10-Q

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 28, 2014

OR

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from __________ to __________

Commission File Number 333-194441

H. J. HEINZ CORPORATION II

(Exact name of registrant as specified in its charter)

Delaware	46-2246679
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)
One PPG Place, Pittsburgh, Pennsylvania (Address of Principal Executive Offices)	15222 (Zip Code)

Registrant’s telephone number, including area code: (412) 456-5700

Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.  Yes X  No

Indicate by check mark whether the Registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the Registrant was required to submit and post such files).  Yes X  No 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer _	Accelerated filer _	Non-accelerated filer X	Smaller reporting company _
		(Do not check if a smaller reporting company)

Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).  Yes   No X

The number of shares of the Registrant’s Common Stock, $0.01 par value per share, outstanding as of September 28, 2014 was 1,000 shares.

PART I — FINANCIAL INFORMATION

Item 1. Financial Statements

H. J. HEINZ CORPORATION II AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

	Successor
	June 30 - September 28, 2014			June 24 - September 22, 2013
	(13 weeks)			(13 weeks)
	(Unaudited)
	(In thousands)
Sales	$	2,593,885		$	2,646,577
Cost of products sold	1,677,862			1,986,414
Gross profit	916,023			660,163
Selling, general and administrative expenses	506,896			571,859
Merger related costs	—			97,798
Operating income/(loss)	409,127			(9,494		)
Interest income	9,198			6,250
Interest expense	166,667			167,161
Other expense, net	(37,450		)	(9,819		)
Income/(loss) from continuing operations before income taxes	214,208			(180,224		)
Provision for/(benefit from) income taxes	40,227			(175,729		)
Income/(loss) from continuing operations	173,981			(4,495		)
Loss from discontinued operations, net of tax	—			(4,909		)
Net income/(loss)	173,981			(9,404		)
Less: Net income attributable to the noncontrolling interest	2,363			2,363
Net income/(loss) attributable to H. J. Heinz Corporation II	$	171,618		$	(11,767	)
Amounts attributable to H. J. Heinz Corporation II common shareholders:
Income/(loss) from continuing operations, net of tax	171,618			(6,858		)
Loss from discontinued operations, net of tax	—			(4,909		)
Net income/(loss)	$	171,618		$	(11,767	)

See Notes to Condensed Consolidated Financial Statements.

_______________________________________

2

H. J. HEINZ CORPORATION II AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

	Successor						Predecessor
	December 30, 2013 - September 28, 2014			February 8 - September 22, 2013			December 24, 2012 - June 7, 2013
	(39 weeks)			(15 weeks)			(24 weeks)
	(Unaudited)
	(In thousands)
Sales	$	8,122,481		$	3,150,003		$	5,203,698
Cost of products sold	5,368,258			2,437,138			3,316,896
Gross profit	2,754,223			712,865			1,886,802
Selling, general and administrative expenses	1,539,209			680,598			1,125,466
Merger related costs	—			153,791			157,002
Operating income/(loss)	1,215,014			(121,524		)	604,334
Interest income	21,665			7,260			10,213
Interest expense	503,601			227,230			130,413
Unrealized gain on derivative instruments	—			117,934			—
Other expense, net	(101,241		)	(8,928		)	(182,618		)
Income/(loss) from continuing operations before income taxes	631,837			(232,488		)	301,516
Provision for/(benefit from) income taxes	124,851			(186,856		)	160,166
Income/(loss) from continuing operations	506,986			(45,632		)	141,350
Loss from discontinued operations, net of tax	—			(4,909		)	(39,663		)
Net income/(loss)	506,986			(50,541		)	101,687
Less: Net income attributable to the noncontrolling interest	13,449			2,370			6,685
Net income/(loss) attributable to H. J. Heinz Corporation II	$	493,537		$	(52,911	)	$	95,002
Amounts attributable to H. J. Heinz Corporation II common shareholders:
Income/(loss) from continuing operations, net of tax	493,537			(48,002		)	$	134,665
Loss from discontinued operations, net of tax	—			(4,909		)	(39,663		)
Net income/(loss)	$	493,537		$	(52,911	)	$	95,002

See Notes to Condensed Consolidated Financial Statements.

_______________________________________

3

H. J. HEINZ CORPORATION II AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS)

	Successor
	June 30 - September 28, 2014			June 24 - September 22, 2013
	(Unaudited)
	(In thousands)
Net income/(loss)	$	173,981		$	(9,404	)
Other comprehensive (loss)/income, net of tax:
Foreign currency translation adjustments	(444,255		)	288,007
Net pension and post retirement benefit losses	(25,481		)	—
Reclassification of net pension and post-retirement benefit gains to net income	(986		)	—
Net deferred gains/(losses) on derivatives from periodic revaluations	23,099			(3,323		)
Net deferred losses/(gains) on derivatives reclassified to earnings	3,865			(1,219		)
Total comprehensive (loss)/income	(269,777		)	274,061
Comprehensive income attributable to the noncontrolling interest	1,796			7,785
Comprehensive (loss)/income attributable to H. J. Heinz Corporation II	$	(267,981	)	$	281,846

See Notes to Condensed Consolidated Financial Statements.

_______________________________________

4

H. J. HEINZ CORPORATION II AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS)

	Nine Months Ended
	Successor						Predecessor
	December 30, 2013 - September 28, 2014			February 8 - September 22, 2013			December 24, 2012 - June 7, 2013
	(Unaudited)
	(In thousands)
Net income/(loss)	$	506,986		$	(50,541	)	$	101,687
Other comprehensive income/(loss), net of tax:
Foreign currency translation adjustments	(309,312		)	120,521			(236,495		)
Net pension and post retirement benefit losses	(53,366		)	—			(189,294		)
Reclassification of net pension and post-retirement benefit (gains)/losses to net income	(2,965		)	—			26,867
Net deferred (losses)/gains on derivatives from periodic revaluations	(136,221		)	103,979			(4,978		)
Net deferred (gains)/losses on derivatives reclassified to earnings	(193		)	(1,219		)	22,674
Total comprehensive income/(loss)	4,929			172,740			(279,539		)
Comprehensive (loss)/income attributable to the noncontrolling interest	(11,906		)	13,451			(1,635		)
Comprehensive (loss)/income attributable to H. J. Heinz Corporation II	$	(6,977	)	$	186,191		$	(281,174	)

See Notes to Condensed Consolidated Financial Statements.

_______________________________________

5

H. J. HEINZ CORPORATION II AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

	Successor
	September 28, 2014		December 29, 2013
	(Unaudited)
	(In thousands)
Assets
Current Assets:
Cash and cash equivalents	$	2,854,109	$	2,458,992
Trade receivables, net	812,038		1,099,655
Other receivables, net	320,513		244,528
Inventories:
Finished goods and work-in-process	1,185,658		1,138,373
Packaging material and ingredients	226,652		297,023
Total inventories	1,412,310		1,435,396
Prepaid expenses	150,743		145,096
Other current assets	86,265		60,458
Total current assets	5,635,978		5,444,125
Property, plant and equipment	2,833,856		2,829,491
Less accumulated depreciation	432,154		165,999
Total property, plant and equipment, net	2,401,702		2,663,492
Goodwill	15,167,591		15,070,062
Trademarks, net	11,776,307		12,130,873
Other intangibles, net	1,906,351		2,358,781
Other non-current assets	1,167,487		1,305,015
Total other non-current assets	30,017,736		30,864,731
Total assets	$	38,055,416	$	38,972,348

See Notes to Condensed Consolidated Financial Statements.

_______________________________________

6

H. J. HEINZ CORPORATION II AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

	Successor
	September 28, 2014			December 29, 2013
	(Unaudited)
	(In thousands)
Liabilities and Equity
Current Liabilities:
Short-term debt	$	904		$	143,689
Portion of long-term debt due within one year	108,538			107,765
Trade payables	1,394,231			1,192,074
Other payables	117,446			148,193
Accrued interest	173,981			172,340
Accrued trade promotions and marketing	329,673			370,329
Other accrued liabilities	514,562			588,281
Income taxes	265,987			202,188
Total current liabilities	2,905,322			2,924,859
Long-term debt	14,530,430			14,617,646
Deferred income taxes	3,954,374			4,160,903
Non-pension postretirement benefits	191,386			196,372
Other non-current liabilities	457,321			529,425
Total long-term liabilities	19,133,511			19,504,346
Redeemable noncontrolling interest	29,315			29,885
Equity:
Capital stock	16,016,516			16,140,000
Additional capital	11,950			1,427
Accumulated deficit	—			(77,021		)
Accumulated other comprehensive (loss)/income	(267,504		)	233,010
Total H. J. Heinz Corporation II shareholder equity	15,760,962			16,297,416
Noncontrolling interest	226,306			215,842
Total equity	15,987,268			16,513,258
Total liabilities and equity	$	38,055,416		$	38,972,348

See Notes to Condensed Consolidated Financial Statements.

_______________________________________

7

H. J. HEINZ CORPORATION II AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

	Successor						Predecessor
	December 30, 2013 - September 28, 2014			February 8 - September 22, 2013			December 24, 2012 - June 7, 2013
	(39 weeks)			(15 weeks)			(24 weeks)
	(Unaudited) (In thousands)
Cash Flows from Operating Activities:
Net income/(loss)	$	506,986		$	(50,541	)	$	101,687
Adjustments to reconcile net income to cash provided by/ (used for) operating activities:
Depreciation	354,298			85,110			143,516
Amortization	74,324			22,256			21,044
Amortization of deferred debt related costs	33,976			14,831			18,494
Inventory fair value step-up charged to cost of products sold	—			383,300			—
Deferred taxes	(139,607		)	(166,666		)	(47,655		)
Net loss on divestitures	—			1,955			34,616
Pension contributions	(59,418		)	(93,095		)	(28,281		)
Impairment loss on indefinite-lived trademarks	61,774			—			—
Unrealized gain on derivative instruments	—			(117,934		)	—
Other items, net	113,284			(4,746		)	71,496
Changes in current assets and liabilities, excluding effects of acquisitions and divestitures:
Receivables (includes proceeds from securitization)	103,351			(6,209		)	83,062
Inventories	(26,697		)	71,552			46,306
Prepaid expenses and other current assets	(7,512		)	21,085			16,368
Accounts payable	185,175			(166,055		)	65,310
Accrued liabilities	(87,890		)	(55,692		)	124,006
Income taxes	220,237			(131,453		)	17,582
Cash provided by/(used for) operating activities	1,332,281			(192,302		)	667,551
Cash Flows from Investing Activities:
Capital expenditures	(247,450		)	(71,135		)	(291,417		)
Proceeds from disposals of property, plant and equipment	42,066			292			2,579
Proceeds from divestitures	—			25,987			—
Acquisitions, net of cash received	—			(21,494,287		)	—
Other items, net	(3,835		)	(29,568		)	30,683
Cash used for investing activities	(209,219		)	(21,568,711		)	(258,155		)
Cash Flows from Financing Activities:
Payments on long-term debt	(74,597		)	(2,645,906		)	(449,847		)
Proceeds from long-term debt	1,586			12,573,734			4,968
Debt issuance costs	—			(320,824		)	—
Net (payments)/proceeds on commercial paper and short-term debt	(11,338		)	(1,656,924		)	297,215
Dividends	(540,000		)	(180,000		)	(331,654		)
Exercise of stock options	—			—			19,387
Purchase of treasury stock	—			—			(17,762		)
Capital contributions	—			16,500,000			—
Other items, net	13,794			26,073			(3,673		)
Cash (used for)/provided by financing activities	(610,555		)	24,296,153			(481,366		)
Effect of exchange rate changes on cash and cash equivalents	(117,390		)	(3,630		)	(140,483		)
Net increase/(decrease) in cash and cash equivalents	395,117			2,531,510			(212,453		)
Cash and cash equivalents at beginning of period	2,458,992			—			2,282,420
Cash and cash equivalents at end of period	$	2,854,109		$	2,531,510		$	2,069,967

See Notes to Condensed Consolidated Financial Statements.

_______________________________________

8

H. J. HEINZ CORPORATION II AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

(1) Basis of Presentation

Organization

On August 1, 2014, the Company's Board of Directors approved a change to the Company's name from Hawk Acquisition Intermediate Corporation II to H. J. Heinz Corporation II.

On June 7, 2013, H. J. Heinz Company ("Heinz") was acquired by H. J. Heinz Holding Corporation (formerly known as Hawk Acquisition Holding Corporation) (“Parent”), a Delaware corporation controlled by Berkshire Hathaway Inc. (“Berkshire Hathaway”) and 3G Special Situations Fund III, L.P. (“3G Capital,” and together with Berkshire Hathaway, the “Sponsors”), pursuant to the Agreement and Plan of Merger, dated February 13, 2013 (the “Merger Agreement”), as amended by the Amendment to Agreement and Plan of Merger, dated March 4, 2013 (the “Amendment”), by and among Heinz, Parent and Hawk Acquisition Sub, Inc., a Pennsylvania corporation and an indirect wholly owned subsidiary of Parent (“Merger Subsidiary”), in a transaction hereinafter referred to as the “Merger.” As a result of the Merger, Merger Subsidiary merged with and into Heinz, with Heinz surviving as a wholly owned subsidiary of H. J. Heinz Corporation II (formerly Hawk Acquisition Intermediate Corporation II) ("Holdings"), which in turn is an indirect wholly owned subsidiary of Parent. See Note 2 "Merger and Acquisition" for further information on the Merger.

Unless the context otherwise requires, the terms "we," "us," "our" and the "Company" refer, collectively, to Holdings, Heinz, and its subsidiaries.

The Company filed a Registration Statement on Form S-4 ("Registration Statement") for an exchange offer for the outstanding 4.25% Second Lien Senior Secured Notes due 2020, in the aggregate principal amount of $3.1 billion ("Exchange Notes"), which became effective May 7, 2014. The Exchange Notes are guaranteed fully and unconditionally, and jointly and severally, on a senior secured basis, subject to certain customary release provisions by Parent, Holdings and most of the Company's domestic subsidiaries, which guarantee our obligations under the Senior Credit Facilities (see Notes 13 and 18). As a result of the Registration Statement becoming effective on May 7, 2014, Holdings became the registrant within which Heinz is consolidated. Holdings has no operations and its Balance Sheet is comprised solely of its investment in Heinz and share capital owned by its parent, Hawk Acquisition Intermediate Corporation I.

Basis of Presentation

The Merger was accounted for as a business combination using the acquisition method of accounting in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification 805, Business Combinations. The Sponsors' cost of acquiring Heinz has been pushed down to establish a new accounting basis for the Company. Accordingly, the interim condensed consolidated financial statements are presented for two periods, Predecessor and Successor, which relate to the accounting periods preceding and succeeding the completion of the Merger. The Predecessor and Successor periods have been separated by a vertical line on the face of the condensed consolidated financial statements to highlight the fact that the financial information for such periods has been prepared under two different historical-cost bases of accounting. The accompanying prior year condensed consolidated statement of operations has been revised to conform to the current year presentation and to correctly classify amortization of debt issue costs in interest expense resulting in an increase in interest expense and a corresponding decrease in other expense, net in the amount of $12.3 million for the quarter ended September 22, 2013 and $14.8 million for the period from February 8, 2013 to September 22, 2013.

Successor - the condensed consolidated financial statements as of September 28, 2014, and for the period from February 8, 2013 through September 28, 2014. The accounts of Merger Subsidiary from inception on February 8, 2013 to the date of its merger into the Company on June 7, 2013 were included in the Successor period from June 8, 2013 to December 29, 2013 as presented in the Registration Statement on Form S-4 which became effective May 7, 2014. The activity in Merger Subsidiary for the period from February 8, 2013 to June 7, 2013 related primarily to the issuance of the Exchange Notes and recognition of associated issuance costs and interest expense. The cash from the Exchange Notes was invested in a money market account until the completion of the Merger on June 7, 2013.

Predecessor - the condensed consolidated financial statements of the Company prior to the Merger on June 7, 2013.

9

Change In Fiscal Year

On October 21, 2013, the Company's Board of Directors approved a change in the Company's fiscal year-end from the Sunday closest to April 30 to the Sunday closest to December 31. As a result of this change, the Company presented its Annual Report for the transition period beginning on April 29, 2013 and ending on December 29, 2013 in its Registration Statement. The Company's interim filings on Form 10-Q are now reported in accordance with the new fiscal year ending December 28, 2014.

The interim condensed consolidated financial statements of the Company are unaudited and have been prepared following the rules and regulations of the United States Securities and Exchange Commission ("SEC"). In the opinion of management, all adjustments, which are of a normal and recurring nature, except those which have been disclosed elsewhere in this Quarterly Report on Form 10-Q, necessary for a fair statement of the results of operations of these interim periods, have been included. The year-end condensed consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America.

The results for interim periods are not necessarily indicative of the results to be expected for the full fiscal year due in part to the seasonal nature of the Company's business. These statements should be read in conjunction with the Company's consolidated financial statements and related notes, and management's discussion and analysis of financial condition and results of operations as of and for the transition period ended December 29, 2013, which appear in the Company's Registration Statement on Form S-4 which became effective May 7, 2014.

(2) Merger and Acquisition

On February 13, 2013, Heinz entered into the Merger Agreement with Parent and Merger Subsidiary. The acquisition was consummated on June 7, 2013, and as a result, Merger Subsidiary merged with and into Heinz, with Heinz surviving as a wholly owned subsidiary of Holdings, which in turn is an indirect wholly owned subsidiary of Parent.

The total consideration paid in connection with the Merger was approximately $28.75 billion, including the assumption of Heinz's outstanding debt. The allocation of consideration to the net tangible and intangible assets acquired and liabilities assumed in the Merger reflects fair value estimates based on management analysis, including work performed by third-party valuation specialists.

10

The following is a summary of the final allocation of the purchase price of the Merger to the estimated fair values of assets acquired and liabilities assumed in the transaction:

	(In thousands)
Cash (including excess cash from Parent)	$	3,223,588
Other current assets	3,734,558
Property, plant and equipment	2,685,880
Trademark and other intangibles	13,914,059
Other non-current assets	675,998
Trade and other payables	(2,741,809		)
Long term debt	(3,021,656		)
Deferred income tax liabilities	(4,055,544		)
Non-pension postretirement benefits and other noncurrent liabilities	(670,822		)
Redeemable non controlling interest and non controlling interest	(258,008		)
Net assets acquired	13,486,244
Goodwill on acquisition	15,266,720
Total consideration pushed down from Parent	28,752,964
Debt repayment and associated costs	(3,976,847		)
Excess cash from Parent	(1,153,621		)
Other transaction related costs	(58,242		)
Total consideration paid to Predecessor shareholders	23,564,254
Cash and cash equivalents of Predecessor at June 7, 2013	(2,069,967		)
Acquisition of business, net of cash on hand	$	21,494,287

Subsequent to December 29, 2013, the Company made measurement period adjustments to the preliminary purchase price allocation primarily reflecting (1) a decrease in indefinite-lived trademarks of approximately $492.9 million, (2) an increase in long term deferred income tax assets of $24.0 million, (3) a decrease in long term deferred tax liabilities of $165.8 million, (4) a reduction in current income taxes payable of $58.6 million and (5) an increase in goodwill of approximately $249.9 million. These measurement period adjustments were made to reflect facts and circumstances existing as of  the  acquisition  date, and did  not  result  from intervening events subsequent to the acquisition date. These adjustments did not have a significant impact  on  the Company’s previously reported consolidated financial statements and,  therefore,  the  Company has not retrospectively adjusted those financial statements.

The total non tax deductible goodwill relating to the Merger is $15.27 billion. The goodwill recognized relates principally to Heinz's established global organization, reputation and strategic positioning.

In the Successor period from February 8, 2013 to September 22, 2013, the Company incurred $153.8 million of Merger related costs, consisting mostly of professional fees. These amounts are separately reflected in Merger related costs in the accompanying condensed consolidated statement of operations.

In the Predecessor period from December 24, 2012 to June 7, 2013, the Company incurred $157.0 million of Merger related costs, including $48.1 million resulting from the acceleration of expense for stock options, restricted stock units and other compensation plans pursuant to the existing change in control provisions of those plans, and the remainder in professional fees. These amounts are separately reflected in Merger related costs in the accompanying condensed consolidated statements of operations for the Predecessor period. The Company also recorded a loss from the extinguishment of debt in the Predecessor periods presented of approximately $129.4 million for debt required to be repaid upon closing as a result of the change in control which is reflected in other expense, net, in the accompanying condensed consolidated statements of operations.

11

The following unaudited pro forma financial data summarizes the Company's results of operations as if the transaction had occurred as of April 30, 2012 (the beginning of the fiscal year ended April 29, 2013). The pro forma data is for informational purposes only and may not necessarily reflect the actual results of operations had the Merger been consummated on April 30, 2012.

	Third Quarter Ended
	September 22, 2013
	(In thousands)
Revenue	$	2,646,577
Income from continuing operations attributable to H. J. Heinz Corporation II	$	241,366

	Nine Months Ended
	September 22, 2013
	(In thousands)
Revenue	$	8,353,701
Income from continuing operations attributable to H. J. Heinz Corporation II	$	464,840

The most significant of the pro forma adjustments were to reflect the impact of Merger related costs, the unrealized gain on derivative instruments, higher cost of products sold associated with the purchase accounting adjustments related to the step-up in inventory, amortization of intangible assets and depreciation of property, plant and equipment, and higher interest expense associated with increased debt.

(3) Segments

Due to the acquisition that occurred on June 7, 2013 (see Note 2) the Company's internal reporting entered a transition period that lasted through the end of December 2013. During this transition period most members of the senior management team were replaced by new management.

In the first quarter of 2014, the Company transitioned to new segments, which are aligned to the new organizational structure implemented during the transition period. These new segments reflect how senior management runs the business and the internal management reporting used for decision-making.

The Company has five reportable segments which are defined by geographic region including: North America, Europe, Asia/Pacific, Latin America and Russia, India, Middle East and Africa ("RIMEA"). The Company has reclassified the segment data for the prior period to conform to the current period’s presentation.

Descriptions of the Company’s reportable segments are as follows:

North America—This segment includes our U.S. consumer products business which manufactures, markets and sells ketchup, condiments, sauces, pasta meals, frozen potatoes, entrées, snacks, and appetizers to the grocery channels and our U.S. foodservice business which manufactures, markets and sells branded and customized products to commercial and non-commercial food outlets and distributors in the United States of America. The North America segment also includes our business in Canada.

Europe—This segment includes the Company’s operations in Europe (excluding Russia) and sells products in all of the Company’s categories.

Asia/Pacific—This segment includes the Company’s operations in Australia, New Zealand, Japan, China, Papua New Guinea, South Korea, Indonesia, Vietnam and Singapore. This segment sells products in all of the Company's categories.

Latin America—This segment includes the Company’s operations in Brazil, Venezuela, Mexico, Costa Rica, and Panama that sell products in all of the Company’s categories.

RIMEA—This segment includes the Company’s operations in Russia, India, the Middle East and Africa that sell products in all of the Company’s categories.

12

The Company’s management evaluates performance based on several factors including net sales and Adjusted Earnings Before Interest, Tax, Depreciation and Amortization ("Adjusted EBITDA"). Inter-segment revenues, items below the operating income line of the condensed consolidated statements of operations and certain costs associated with Restructuring and Productivity Initiatives (see Note 5) and Merger related costs, are not presented by segment, since they are not reflected in the measure of segment profitability reviewed by the Company’s management.

The following tables present information about the Company’s reportable segments:

	Successor
	June 30 - September 28, 2014			June 24 - September 22, 2013
	(In thousands)
Net external sales:
North America	$	982,162		$	1,049,205
Europe	695,991			693,632
Asia/Pacific	475,674			532,185
Latin America	265,889			211,709
RIMEA	174,169			159,846
Consolidated Totals	$	2,593,885		$	2,646,577
Segment Adjusted EBITDA:
North America	$	281,313		$	261,238
Europe	205,408			143,656
Asia/Pacific	78,097			67,914
Latin America	69,566			29,988
RIMEA	29,132			19,551
Non-Operating	(17,067		)	(25,383		)
Adjusted EBITDA	646,449			496,964
Amortization of inventory step-up	—			259,195
Severance related costs(a)	29,059			64,915
Other restructuring costs(a)	10,617			2,444
Asset write-offs(a)	38,429			—
Other special items(b)	59,987			(10,937		)
Merger related costs(c)	—			97,798
Depreciation, including accelerated depreciation for restructuring	70,571			72,272
Amortization	24,681			20,771
Interest expense, net	157,469			160,911
Stock based compensation	3,978			—
Other expense, net	37,450			9,819
Income/(loss) from continuing operations before income tax	$	214,208		$	(180,224	)

______________________________________

(a) See Note 5 for further details on restructuring and productivity initiatives.

(b) Includes incremental costs primarily for additional warehousing and other logistics costs incurred related to the U.S. SAP go-live, which was launched in the second quarter of 2014, along with equipment relocation charges, severance and consulting and advisory charges not specifically related to restructuring activities and other items that management believes do not directly reflect our core operations.

(c) See Note 2 for further details on Merger related costs.

13

	Successor						Predecessor
	December 30, 2013 - September 28, 2014			February 8 - September 22, 2013			December 24, 2012 - June 7, 2013
	(In thousands)
Net external sales:
North America	$	3,116,979		$	1,222,895		$	2,090,049
Europe	2,224,828			815,483			1,365,438
Asia/Pacific	1,551,039			652,785			1,023,379
Latin America	664,875			250,948			389,561
RIMEA	564,760			207,892			335,271
Consolidated Totals	$	8,122,481		$	3,150,003		$	5,203,698
Segment Adjusted EBITDA:
North America	$	936,681		$	294,634		$	516,633
Europe	657,131			170,176			291,990
Asia/Pacific	258,078			84,372			137,292
Latin America	131,942			34,563			38,464
RIMEA	102,545			27,146			48,114
Non-Operating	(58,317		)	(29,459		)	(86,184		)
Adjusted EBITDA	2,028,060			581,432			946,309
Amortization of inventory step-up	—			383,300			—
Severance related costs(a)	112,756			67,500			1,866
Other restructuring costs(a)	48,985			2,444			3,659
Asset write-offs(a)	48,718			—			—
Other special items(b)	106,029			(11,445		)	(11,908		)
Merger related costs(c)	—			153,791			157,002
Unrealized gain on derivative instruments	—			(117,934		)	—
Loss from extinguishment of debt	—			—			129,367
Foodstar earn-out(d)	—			—			12,081
Depreciation, including accelerated depreciation for restructuring	354,298			85,110			143,516
Amortization	74,324			22,256			21,044
Stock based compensation	6,162			—			18,520
Interest expense, net	481,936			219,970			120,200
Other expense, net	101,241			8,928			49,446
Impairment loss on indefinite-lived trademarks(e)	61,774			—			—
Income/(loss) from continuing operations before income tax	$	631,837		$	(232,488	)	$	301,516

______________________________________

(a) See Note 5 for further details on restructuring and productivity initiatives.

(b) Includes incremental costs primarily for additional warehousing and other logistics costs incurred related to the U.S. SAP go-live, which was launched in the second quarter of 2014, along with equipment relocation charges, severance and consulting and advisory charges not specifically related to restructuring activities and other items that management believes do not directly reflect our core operations.

(c) See Note 2 for further details on Merger related costs.

(d) The Company renegotiated the terms of the Foodstar Holdings Pte earn-out resulting in a $12.1 million charge to SG&A in January 2013.

(e) See Note 7 for further details on the impairment loss on indefinite-lived trademarks.

14

The Company’s revenues are generated via the sale of products in the following categories:

	Successor
	June 30 - September 28, 2014		June 24 - September 22, 2013
	(In thousands)
Ketchup and Sauces	$	1,344,804	$	1,319,400
Meals and Snacks	887,417		932,927
Infant/Nutrition	273,018		280,141
Other	88,646		114,109
Total	$	2,593,885	$	2,646,577

	Successor				Predecessor
	December 30, 2013 - September 28, 2014		February 8 - September 22, 2013		December 24, 2012 - June 7, 2013
	(In thousands)
Ketchup and Sauces	$	4,087,500	$	1,577,483	$	2,433,468
Meals and Snacks	2,737,328		1,089,553		1,863,421
Infant/Nutrition	859,368		333,784		546,873
Other	438,285		149,183		359,936
Total	$	8,122,481	$	3,150,003	$	5,203,698

(4) Recently Issued Accounting Standards

In May 2014, the FASB announced the issuance of ASU 2014-09, which provides guidance for recognizing revenue from contracts with customers. The new guidance establishes a five-step model for recognizing revenue, which will supersede a number of existing revenue recognition requirements under U.S. GAAP, providing consistency across industries. The Company is required to adopt this standard for annual reporting periods beginning after December 15, 2016, and for interim and annual reporting periods thereafter. Earlier adoption is not permitted. The Company is currently evaluating the impact the adoption of this standard will have on its consolidated financial statements.

In April 2014, the FASB issued an amendment to the standard for reporting discontinued operations and disclosure of disposals of components of an entity. This revised standard changes the criteria for determining which disposals can be presented as discontinued operations and modifies the disclosure requirements. Under the new guidance, a discontinued operation is defined as a disposal of a component or group of components that is disposed of or is classified as held for sale and represents a strategic shift that has (or will have) a major effect on an entity's operations and financial results. The amendment states that a strategic shift could include a disposal of (i) a major geographic area of operations, (ii) a major line of business, (iii) a major equity method investment, or (iv) other major parts of an entity. The Company is required to adopt this revised standard prospectively for new disposals starting in 2015; however, the Company can, and will, early adopt the revised standard for any new disposals that may occur in 2014.

In July 2013, the FASB issued ASU 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists (ASU 2013-11). ASU 2013-11 requires the netting of unrecognized tax benefits (UTBs) against a deferred tax asset for a loss or other carryforward that would apply in settlement of the uncertain tax positions. UTBs are required to be netted against all available same-jurisdiction loss or other tax carryforwards that would be utilized, rather than only against carryforwards that are created by the UTBs. ASU 2013-11 was effective for interim and annual periods beginning after December 15, 2013. The Company adopted ASU 2013-11 in the first quarter of 2014 on a prospective basis. The adoption did not have a significant impact on the Company’s consolidated financial statements.

15

(5) Restructuring and Productivity Initiatives

During the transition period and the first nine months of 2014, the Company invested in restructuring and productivity initiatives as part of its ongoing cost reduction efforts with the goal of driving efficiencies and creating fiscal resources that will be reinvested into the Company's business as well as to accelerate overall productivity on a global scale. As of September 28, 2014, these initiatives have resulted in the reduction of approximately 4,050 corporate and field positions across the Company's global business segments (excluding the factory closures noted below). With respect to these restructuring and productivity initiatives, the Company currently estimates it will incur total charges of approximately $300 million related to severance benefits and other severance-related expenses, of which $289 million has been incurred from project inception through September 28, 2014.

In addition, the Company has announced the planned closure and consolidation of 5 factories across the U.S., Canada and Europe during 2014.  The number of employees expected to be impacted by these 5 plant closures and consolidation is approximately 1,600, of which 1,450 had left the Company as of September 28, 2014. With respect to these factory closures, the Company currently estimates it will incur charges of approximately $91 million related to severance benefits and other severance-related expenses, of which $86 million has been incurred from project inception through September 28, 2014.  In addition the Company will recognize accelerated depreciation on assets it plans to dispose of but which are currently in use. The charges that the Company expects to incur in connection with these factory workforce reductions and factory closures are subject to a number of assumptions and may differ from actual results.  The Company may also incur other charges not currently contemplated due to events that may occur as a result of, or related to, these cost reductions.

Furthermore, the Company announced the planned closure of an additional factory in Europe in the first half of 2015 due to the expiration of a license to manufacture a non-core product. The number of employees expected to be impacted by this plant closure is approximately 200. With respect to this factory closure, the Company expects to incur charges of approximately $12 million related to severance benefits and other severance-related expenses which it recorded in the quarter ended September 28, 2014. In addition, the Company recognized $33 million in non-cash asset write-downs for impairment of long-lived assets to be disposed.

In the three and nine months ended September 28, 2014, the Company recorded pre-tax costs related to these initiatives of $80.9 million and $338.2 million, respectively, which were comprised of the following:

• $29.1 million and $112.8 million, respectively, for severance and employee benefit costs relating to the reduction of corporate and field positions across the Company.

• $10.6 million and $49.0 million, respectively, associated with other implementation costs, primarily for professional fees, and contract and lease termination costs.

• $41.2 million and $176.4 million, respectively, relating to non-cash asset write-downs and accelerated depreciation for the planned closure and consolidation of 6 factories across the U.S., Canada and Europe.

Of the $80.9 million and $338.2 million total pre-tax charges for the three and nine months ended September 28, 2014, $67.6 million and $292.9 million was recorded in cost of products sold and $13.3 million and $45.3 million in selling, general and administrative expenses ("SG&A"), respectively.

The Company recorded pre-tax costs related to these initiatives of $67.3 million in the three months ended September 22, 2013 (the Three Month Successor period) and $69.9 million in the Successor period from February 8, 2013 to September 22, 2013 (the Year-to-Date Successor period), respectively, which were comprised of the following:

• $64.9 million for the Three Month Successor period and $67.5 million for the Year-to-Date Successor period, respectively, for severance and employee benefit costs relating to the reduction of corporate and field positions across the Company.

• $2.4 million for the Three Month Successor period and Year-to-Date Successor period associated with other implementation costs, primarily for professional fees, and contract and lease termination costs.

16

Of the $67.3 million total pre-tax charges in the Three Month Successor period ended September 22, 2013, $20.8 million was recorded in cost of products sold and $46.5 million in SG&A, respectively. Of the $69.9 million total pre-tax charges in the Year-to-Date Successor period ended September 22, 2013, $23.2 million was recorded in Cost of products sold and $46.7 million in SG&A, respectively.

The Company does not include productivity charges in the results of its reportable segments. The pre-tax impact of allocating such charges to segment results would have been as follows:

	Successor
	June 30 - September 28, 2014		June 24 - September 22, 2013
	(In millions)
North America	$	5.2	$	39.2
Europe	63.1		1.4
Asia/Pacific	8.0		3.5
Latin America	3.5		15.3
RIMEA	0.9		1.0
Non-Operating	0.2		6.9
Total productivity charges	$	80.9	$	67.3

	Successor				Predecessor
	December 30, 2013 - September 28, 2014		February 8 - September 22, 2013		December 24, 2012 - June 7, 2013
	(In millions)
North America	$	161.1	$	39.2	$	—
Europe	126.4		1.4		3.6
Asia/Pacific	26.5		6.1		2.4
Latin America	3.7		15.3		—
RIMEA	2.5		1.0		—
Non-Operating	18.0		6.9		—
Total productivity charges	$	338.2	$	69.9	$	6.0

Activity in other accrued liability balances for restructuring and productivity charges incurred by the Successor were as follows:

	Severance and other severance related costs (a)			Other exit costs (b)			Total
	(In millions)
Accrual balance at December 29, 2013	$	66.3		$	41.6		$	107.9
2014 Restructuring and productivity initiatives	112.8			49.0			161.8
Cash payments	(120.5		)	(59.8		)	(180.3		)
Accrual balance at September 28, 2014	$	58.6		$	30.8		$	89.4

______________________________________

(a) The accrual balance for severance and other severance related costs at December 29, 2013 shown in the above table has been revised to correct the prior period disclosure, decreasing the balance by $27.0 million.  The revision impacted only the disclosed amount and had no impact on the Company's condensed consolidated financial statements.

(b) Other exit costs primarily represent professional fees, and contract and lease termination costs.

17

(6) Discontinued Operations

In January 2013, the Company’s Board of Directors approved management’s plan to sell Shanghai LongFong Foods (“LongFong”), a maker of frozen products in China which was previously reported in the Asia/Pacific segment. As a result, LongFong’s net assets were classified as held for sale and the Company adjusted the carrying value to estimated fair value, recording a $36.0 million pre-tax and after-tax non-cash goodwill impairment charge to discontinued operations in January 2013. The sale was completed in June 2013, resulting in an insignificant pre-tax and after-tax loss which was recorded in discontinued operations at that time.

The operating results related to LongFong have been included in discontinued operations in the Company's condensed consolidated statements of operations for all periods presented. The following table presents summarized operating results for this discontinued operation:

	Successor
	June 30 - September 28, 2014		June 24 - September 22, 2013
	(In millions)
Sales	$	—	$	3.0
Net loss	$	—	$	(4.9	)

	Successor					Predecessor
	December 30, 2013 - September 28, 2014		February 8 - September 22, 2013			December 24, 2012 - June 7, 2013
	(In millions)
Sales	$	—	$	3.0		$	26.5
Net loss	$	—	$	(4.9	)	$	(3.7	)

(7) Goodwill and Other Intangible Assets

Changes in the carrying amount of goodwill for the period from December 29, 2013 to September 28, 2014, by reportable segment, are as follows:

	North America			Europe			Asia/Pacific			Latin America			RIMEA			Total
Successor	(In thousands)
Balance at December 29, 2013	$	9,853,578		$	3,704,658		$	1,026,979		$	210,916		$	273,931		$	15,070,062
Purchase accounting adjustments	215,034			(56,853		)	46,293			48,738			(3,299		)	249,913
Translation adjustments	(45,770		)	(85,294		)	(11,231		)	(11,091		)	1,002			(152,384		)
Balance at September 28, 2014	$	10,022,842		$	3,562,511		$	1,062,041		$	248,563		$	271,634		$	15,167,591

The Company revised its changes in the carrying amount of goodwill table presented herein to correct the allocation of balance at December 29, 2013 and purchase accounting adjustments by reportable segment having the following impacts:

• Increasing North America purchase accounting adjustments by $96 million.

• Decreasing Europe balance at December 29, 2013 by $5 million and decreasing purchase accounting adjustments by $143 million.

• Decreasing Asia/Pacific balance at December 29, 2013 by $21 million and increasing purchase accounting adjustments by $29 million.

• Increasing LATAM purchase accounting adjustments by $44 million.

• Increasing RIMEA balance at December 29, 2013 by $26 million and decreasing purchase accounting adjustments by $26 million.

18

The revisions had no impact on the Company's condensed consolidated financial statements as of December 29, 2013 or for the transition period then ended. The revisions also had no impact on the condensed consolidated financial statements as of September 28, 2014 or for the period then ended.

The Company is required to perform an impairment assessment for goodwill and other indefinite lived intangible assets within one year of their acquisition date (June 7, 2013). As such, the Company performed an impairment assessment of goodwill and other indefinite lived intangible assets as of the first day of the second quarter of 2014. As a result, the Company took a non-cash impairment charge of $62 million classified as cost of products sold in the Successor period from March 31 to June 29, 2014, on its indefinite lived trademarks, primarily in its North American frozen meals and snacks business due to continued category softness driving lower than anticipated sales. Because the indefinite-lived intangible assets were adjusted to their estimated fair values in connection with the Merger, there is not a significant excess of fair value over the carrying values as of September 28, 2014. If current expectations of future growth rates are not met or specific valuation factors outside of our control, such as discount rates, change significantly, then one or more trademarks might become impaired in the future. There was no impairment of goodwill as a result of this assessment and there are no accumulated impairment losses to goodwill as of September 28, 2014.

Intangible assets not subject to amortization at September 28, 2014 totaled $12.3 billion and consisted of $11.8 billion of trademarks, $484.8 million of licenses, and $46.2 million of other intangibles. Intangible assets not subject to amortization at December 29, 2013 totaled $13.0 billion and consisted of $12.1 billion of trademarks, $839.9 million of licenses, and $45.6 million of other intangible assets. The decrease in intangible assets not subject to amortization since December 29, 2013 is due to final purchase accounting adjustments to trademarks, the non-cash impairment noted above and foreign currency translation adjustments.

Other intangible assets at September 28, 2014 and December 29, 2013 subject to amortization expense are as follows:

	September 28, 2014							December 29, 2013
	Gross		Accumulated Amortization			Net		Gross		Accumulated Amortization			Net
	(In thousands)
Customer-related assets	$	1,351,001	$	(85,301	)	$	1,265,700	$	1,375,876	$	(35,773	)	$	1,340,103
Licenses	119,325		(24,547		)	94,778		119,714		(10,030		)	109,684
Other	16,369		(1,494		)	14,875		24,665		(1,118		)	23,547
	$	1,486,695	$	(111,342	)	$	1,375,353	$	1,520,255	$	(46,921	)	$	1,473,334

The following tables summarize amortization expense for customer-related and other intangible assets for the periods presented:

	Successor
	June 30 - September 28, 2014		June 24 - September 22, 2013
	(In thousands)
Amortization of customer-related and other intangible assets	$	22,632	$	19,254

	Successor				Predecessor
	December 30, 2013 - September 28, 2014		February 8 - September 22, 2013		December 24, 2012 - June 7, 2013
	(In thousands)
Amortization of customer-related and other intangible assets	$	68,327	$	20,259	$	13,673

Based upon the amortizable intangible assets recorded on the balance sheet as of September 28, 2014, average annual amortization expense for each of the next five years is estimated to be approximately $82.4 million.

(8) Income Taxes

The provision for income taxes consists of provisions for federal, state and foreign income taxes. The Company operates in an international environment with almost 70% of its sales outside the U.S.  Accordingly, the consolidated income tax rate is a composite rate reflecting the earnings in various locations and the applicable tax rates. In the normal course of business, the Company is subject to examination by taxing authorities throughout the world, including such major

19

jurisdictions as Australia, Canada, Italy, Netherlands, United Kingdom and United States. The Company has substantially concluded all national income tax matters for years through Fiscal 2011 for the United Kingdom and Netherlands, through Fiscal 2010 for the U.S., through Fiscal 2009 for Australia and Canada, and through Fiscal 2008 for Italy.

Tax expense was $124.9 million or 19.8% of pretax income for the nine months ended September 28, 2014, compared with a tax benefit of $186.9 million or 80.4% of pretax loss for the Successor period from February 8 to September 22, 2013, and tax expense of $160.2 million or 53.1% of pretax income for the Predecessor period from December 24, 2012 to June 7, 2013. The Predecessor period effective tax rate is higher than the current and prior year Successor periods' effective tax rates primarily due to significant repatriation costs incurred as a result of distributions of foreign earnings during the Predecessor period. The prior year Successor period included a $106.7 million benefit related to the impact on deferred taxes of a 300 basis point statutory tax rate reduction in the United Kingdom which was enacted during July 2013. Both the Predecessor and prior year Successor periods included nondeductible transaction costs which increased the effective tax rate in comparison with the current period. The Company's effective tax rate in 2014 is lower than the federal statutory rate of 35% primarily due to lower tax rates on earnings in certain foreign jurisdictions and the effects of tax free interest.

The total amount of gross unrecognized tax benefits for uncertain tax positions, including positions impacting only the timing of tax benefits, was $68.3 million and $53.1 million on September 28, 2014 and December 29, 2013, respectively. The amount of unrecognized tax benefits that, if recognized, would impact the effective tax rate was $54.9 million and $44.9 million on September 28, 2014 and December 29, 2013, respectively. It is reasonably possible that the amount of unrecognized tax benefits will decrease by as much as $23.4 million in the next 12 months primarily due to the progression of federal, state and foreign audits in process.

The Company classifies interest and penalties on tax uncertainties as a component of the provision for income taxes. The total amounts of interest accrued at September 28, 2014 and December 29, 2013 were $13.3 million and $10.7 million, respectively. The corresponding amounts of accrued penalties at September 28, 2014 and December 29, 2013 were $8.3 million and $8.5 million, respectively.

(9) Employees’ Stock Incentive Plans and Management Incentive Plans

In October 2013, the Board adopted the H. J. Heinz Holding Corporation 2013 Omnibus Incentive Plan (the “2013 Omnibus Plan”) which authorizes the issuance of up to 39,600,000 shares of our Parent's capital stock. On October 16, 2013, the Company granted non-qualified stock options to purchase up to 14,300,000 shares of Common Stock in H. J. Heinz Holding Corporation to select employees and Directors with cliff vesting on July 1, 2018, provided the employee is continuously employed by Parent or one of its subsidiaries or affiliates.

On February 14, 2014 and May 21, 2014, Parent granted non-qualified stock options under the 2013 Omnibus Plan to purchase up to 3,878,805 and 4,700,000 shares respectively of Common Stock in Parent to select employees with a five-year cliff vesting, provided the employee is continuously employed by Parent or one of its subsidiaries or affiliates. The February 14, 2014 options were issued in conjunction with a program ("Bonus Swap Program") whereby participants could elect to use a portion of their calculated non-equity incentive compensation (after all required taxes and deductions) to purchase shares of Common Stock in Parent. Participants who elected to purchase such shares were granted matching stock options.

Of the options granted on October 16, 2013, February 14, 2014 and May 21, 2014 there were 11,925,000, 3,561,875 and 4,675,000, respectively, of such options outstanding as of September 28, 2014. The change in number of options from the initial grant was due to new options granted or forfeitures. With respect to the shares underlying the options granted on these dates, the exercise price is $10.00 per share. For options granted on October 16, 2013, February 14, 2014 and May 21, 2014, the weighted-average grant date fair value of the options granted was $2.43, $2.43 and $2.46 per share, respectively.

20

The weighted average assumptions used to estimate the fair values are as follows:

	Successor
	Nine Months Ended
	Stock Options Granted October 16, 2013			Stock Options Granted February 14, 2014			Stock Options Granted May 21, 2014
Exercise price	$	10.00		$	10.00		$	10.00
Risk-free interest rate	1.41		%	1.41		%	1.55		%
Expected term (in years)	5.0			5.0			5.0
Expected volatility	24.3		%	24.3		%	24.3		%
Expected forfeiture rate	5.0		%	5.0		%	5.0		%
Expected dividend yield	—		%	—		%	—		%

The compensation cost related to equity plans primarily recognized in SG&A and Merger related costs, and the related tax benefit, are as follows:

	Successor
	June 30 - September 28, 2014		June 24 - September 22, 2013
	(In millions)
Pre-tax compensation cost	$	2.6	$	1.9
Tax benefit	0.9		0.6
After-tax compensation cost	$	1.7	$	1.3

	Successor				Predecessor
	December 30, 2013 - September 28, 2014		February 8 - September 22, 2013		December 24, 2012 - June 7, 2013
	(In millions)
Pre-tax compensation cost	$	6.2	$	1.9	$	36.4
Tax benefit	2.1		0.6		11.2
After-tax compensation cost	$	4.1	$	1.3	$	25.2

Unrecognized compensation cost related to unvested stock option awards under the 2013 Omnibus Plan was $41.5 million as of September 28, 2014.

In connection with the Merger and in accordance with the change in control provisions, all outstanding stock option awards, restricted stock units (except for retention RSUs) and restricted stock awards issued pursuant to various shareholder-approved plans and a shareholder-authorized employee stock purchase plan were automatically canceled and converted into the right to receive $72.50 in cash on June 7, 2013.

In the predecessor period ended June 7, 2013, the Company granted performance awards as permitted in the Fiscal Year 2003 Stock Incentive Plan, subject to the achievement of certain performance goals. These performance awards were tied to the Company’s Relative Total Shareholder Return (“Relative TSR”) Ranking within the defined Long-Term Performance Program (“LTPP”) peer group and the two-year average after-tax Return on Invested Capital (“ROIC”) metrics. The Relative TSR metric was based on the two-year cumulative return to shareholders from the change in stock price and dividends paid between the starting and ending dates. These LTPP awards were settled in connection with the Merger.

21

The compensation cost related to LTPP awards primarily recognized in SG&A and the related tax benefit during the Predecessor periods presented are as follows (there was no compensation cost related to LTPP awards in the Successor periods):

	Predecessor
	December 24, 2012 - June 7, 2013
	(In millions)
Pre-tax compensation cost	$	8.1
Tax benefit	2.8
After-tax compensation cost	$	5.3

(10) Pensions and Other Post-Retirement Benefits

The Company's employees participate in various employee benefit plans that were in place prior to the acquisition.

The components of net periodic benefit (income)/expense are as follows:

	Successor						Successor
	Pension Benefits						Other Retiree Benefits
	June 30 - September 28, 2014			June 24 - September 22, 2013			June 30 - September 28, 2014			June 24 - September 22, 2013
	(In thousands)
Service cost	$	7,303		$	9,555		$	1,430		$	1,640
Interest cost	34,959			33,190			2,209			2,334
Expected return on plan assets	(56,206		)	(53,720		)	—			—
Amortization of prior service cost/(credit)	—			—			(1,577		)	—
Amortization of unrecognized (gain)/loss	(16		)	—						—
Special Termination Benefits	1,784			—			—			—
Curtailment (gains) and settlement losses	(1,494		)	—			(6,868		)	—
Net periodic benefit (income)/expense	$	(13,670	)	$	(10,975	)	$	(4,806	)	$	3,974

	Successor						Predecessor			Successor					Predecessor
	Pension Benefits									Other Retiree Benefits
	December 30, 2013 - September 28, 2014			February 8 - September 22, 2013			December 24, 2012 - June 7, 2013			December 30, 2013 - September 28, 2014			February 8 - September 22, 2013		December 24, 2012 - June 7, 2013
	(In thousands)
Service cost	$	22,353		$	10,950		$	14,673		$	4,256		$	1,905	$	2,909
Interest cost	105,320			38,342			57,912			6,591			2,705		4,260
Expected return on plan assets	(166,631		)	(63,750		)	(111,162		)	—			—		—
Amortization of prior service cost/(credit)	—			—			1,077			(4,731		)	—		(2,736		)
Amortization of unrecognized (gain)/loss	(47		)	—			35,759			—			—		823
Special Termination Benefits	1,784			—			17,230			—			—		—
Curtailment (gains) and settlement losses	(2,289		)	—			3,177			(6,868		)	—		—
Net periodic benefit (income)/expense	$	(39,510	)	$	(14,458	)	$	18,666		$	(752	)	$	4,610	$	5,256

The Company realized a curtailment gain of $1.5 million and $6.9 million on the Canadian defined benefit and post retirement medical plans, respectively, and as a result remeasured the projected benefit obligation which resulted in an adjustment of $25.5 million to accumulated other comprehensive income, net of tax for three months ended September 28, 2014.

22

The Company realized a curtailment gain of $0.8 million on the United Kingdom defined benefit plans and as a result remeasured the projected benefit obligation which resulted in an adjustment of $27.9 million to accumulated other comprehensive income, net of tax for six months ended June 29, 2014.

The Company elected to accelerate vesting of benefits under certain supplemental retirement plans upon consummation of the Merger. The expense associated with the accelerated vesting of $17.2 million was recognized in the Predecessor periods ended June 7, 2013.

The amounts recognized for pension benefits as Other non-current assets on the Company's condensed consolidated balance sheets were $549.5 million as of September 28, 2014 and $502.2 million as of December 29, 2013.

During the first nine months of 2014, the Company contributed $60 million to these defined benefit plans. The Company expects to make combined cash contributions of approximately $94 million for the year ended December 28, 2014.  However, actual contributions may be affected by pension asset and liability valuations during the year.

During the first quarter of 2014, the Company announced its intention to terminate the salaried and non-union US defined benefit plan effective April 30, 2014. The Company wound up the Canadian salaried and Canadian hourly defined benefit plans effective March 28, 2014 and July 15, 2014, respectively These announcements had no impact on the condensed consolidated statements of operations, condensed consolidated balance sheet or condensed consolidated statement of cash flows as at and for the three and nine months ended September 28, 2014.

(11) Comprehensive Income

The following tables summarize the allocation of total comprehensive income between H. J. Heinz Corporation II and the noncontrolling interest for the third quarters ended September 28, 2014 and September 22, 2013, respectively:

	Successor
	June 30 - September 28, 2014									June 24 - September 22, 2013
	H. J. Heinz Corporation II			Non-controlling Interest			Total			H. J. Heinz Corporation II			Non-controlling Interest			Total
	(In thousands)
Net income/(loss)	$	171,618		$	2,363		$	173,981		$	(11,767	)	$	2,363		$	(9,404	)
Other comprehensive (loss)/income, net of tax:
Foreign currency translation adjustments (losses)/gains	(708,453		)	(4,177		)	(712,630		)	298,402			(10,395		)	288,007
Net deferred gains on net investment hedges from periodic revaluations	268,375			—			268,375			—			—			—
Net pension and post-retirement benefit losses	(25,481		)	—			(25,481		)	—			—			—
Net pension and post-retirement benefit gains reclassified to earnings	(986		)	—			(986		)	—			—			—
Net deferred gains/(losses) on derivatives from periodic revaluations	23,164			(65		)	23,099			(3,609		)	286			(3,323		)
Net deferred losses/(gains) on derivatives reclassified to earnings	3,782			83			3,865			(1,180		)	(39		)	(1,219		)
Total comprehensive (loss)/income	$	(267,981	)	$	(1,796	)	$	(269,777	)	$	281,846		$	(7,785	)	$	274,061

23

	Successor																		Predecessor
	December 30, 2013 - September 28, 2014									February 8 - September 22, 2013									December 24, 2012 - June 7, 2013
	H. J. Heinz Corporation II			Non-controlling Interest			Total			H. J. Heinz Corporation II			Non-controlling Interest			Total			H. J. Heinz Corporation II			Non-controlling Interest			Total
	(In thousands)
Net income/(loss)	$	493,537		$	13,449		$	506,986		$	(52,911	)	$	2,370		$	(50,541	)	$	95,002		$	6,685		$	101,687
Other comprehensive (loss)/income, net of tax:
Foreign currency translation adjustments (losses)/gains	(416,748		)	(1,105		)	(417,853		)	136,589			(16,068		)	120,521			(231,442		)	(5,053		)	(236,495		)
Net deferred gains on net investment hedges from periodic revaluations	108,541			—			108,541			—			—			—			—			—			—
Net pension and post-retirement benefit losses	(53,366		)	—			(53,366		)	—			—			—			(189,294		)	—			(189,294		)
Net pension and post-retirement benefit (gains)/losses reclassified to earnings	(2,965		)	—			(2,965		)	—			—			—			26,908			(41		)	26,867
Net deferred (losses)/gains on derivatives from periodic revaluations	(135,800		)	(421		)	(136,221		)	103,693			286			103,979			(5,018		)	40			(4,978		)
Net deferred (gains)/losses on derivatives reclassified to earnings	(176		)	(17		)	(193		)	(1,180		)	(39		)	(1,219		)	22,670			4			22,674
Total comprehensive (loss)/income	$	(6,977	)	$	11,906		$	4,929		$	186,191		$	(13,451	)	$	172,740		$	(281,174	)	$	1,635		$	(279,539	)

The tax (expense)/benefit associated with each component of other comprehensive income/(loss) is as follows:

	H. J. Heinz Corporation II			Noncontrolling Interest			Total
	(In thousands)
Successor
June 24 - September 22, 2013
Net pension and post-retirement benefit (losses)/gains	$	—		$	—		$	—
Net pension and post-retirement benefit (gains)/losses reclassified to earnings	$	—		$	—		$	—
Net deferred (losses)/gains on derivatives from periodic revaluations	$	(722	)	$	(95	)	$	(817	)
Net deferred (gains)/losses on derivatives reclassified to earnings	$	(288	)	$	(13	)	$	(301	)
June 30 - September 28, 2014
Net deferred gains on net investment hedges from periodic revaluations	$	(165,920	)	$	—		$	(165,920	)
Net pension and post-retirement benefit (losses)/gains	$	8,809		$	—		$	8,809
Net pension and post-retirement benefit (gains)/losses reclassified to earnings	$	(607	)	$	—		$	(607	)
Net deferred (losses)/gains on derivatives from periodic revaluations	$	(14,597	)	$	22		$	(14,575	)
Net deferred (gains)/losses on derivatives reclassified to earnings	$	(1,748	)	$	28		$	(1,720	)

24

	H. J. Heinz Corporation II			Noncontrolling Interest			Total
	(In thousands)
Predecessor
December 24, 2012 - June 7, 2013
Net pension and post-retirement benefit (losses)/gains	$	75,526		$	—		$	75,526
Net pension and post-retirement benefit (gains)/losses reclassified to earnings	$	11,191		$	—		$	11,191
Net deferred (losses)/gains on derivatives from periodic revaluations	$	13,484		$	(13	)	$	13,471
Net deferred losses on derivatives reclassified to earnings	$	22,118		$	1		$	22,119
Successor
February 8 - September 22, 2013
Net change in fair value of net investment hedges	$	—		$	—		$	—
Net pension and post-retirement benefit (losses)/gains	$	—		$	—		$	—
Net pension and post-retirement benefit (gains)/losses reclassified to earnings	$	—		$	—		$	—
Net deferred (losses)/gains on derivatives from periodic revaluations	$	(55,735	)	$	(95	)	$	(55,830	)
Net deferred gains on derivatives reclassified to earnings	$	(288	)	$	(13	)	$	(301	)
December 30, 2013 - September 28, 2014
Net deferred gains on net investment hedges from periodic revaluations	$	(67,235	)	$	—		$	(67,235	)
Net pension and post-retirement benefit (losses)/gains	$	15,780		$	—		$	15,780
Net pension and post-retirement benefit (gains)/losses reclassified to earnings	$	(1,813	)	$	—		$	(1,813	)
Net deferred (losses)/gains on derivatives from periodic revaluations	$	64,099		$	141		$	64,240
Net deferred gains on derivatives reclassified to earnings	$	(6,911	)	$	(6	)	$	(6,917	)

The following table provides a summary of the changes in the carrying amount of accumulated other comprehensive (loss)/income, net of tax, by component attributable to H. J. Heinz Corporation II:

	Foreign currency translation adjustments			Net pension and post retirement benefit			Net cash flow hedges			Total
Successor	(In thousands)
Balance as of December 29, 2013	$	22,548		$	102,464		$	107,998		$	233,010
Foreign currency translation adjustments	(416,748		)	—			—			(416,748		)
Net deferred gains on net investment hedges from periodic revaluations	108,541			—			—			108,541
Net pension and post-retirement benefit (losses)/gains	—			(53,366		)	—			(53,366		)
Net pension and post-retirement benefit (gains)/losses reclassified to earnings	—			(2,965		)	—			(2,965		)
Net deferred losses on derivatives from periodic revaluations	—			—			(135,800		)	(135,800		)
Net deferred (gains)/losses on derivatives reclassified to earnings	—			—			(176		)	(176		)
Net current-period other comprehensive loss	$	(308,207	)	$	(56,331	)	$	(135,976	)	$	(500,514	)
Balance as of September 28, 2014	$	(285,659	)	$	46,133		$	(27,978	)	$	(267,504	)

25

The following table presents the affected earnings line for reclassifications out of accumulated other comprehensive income/(loss), net of tax, by component attributable to H. J. Heinz Corporation II for the third quarters and nine months ended September 28, 2014 and September 22, 2013:

Accumulated other comprehensive income/(loss) component	Reclassified from accumulated other comprehensive income/(loss) to earnings						Line affected by reclassification
	(In thousands)
	Successor
	June 30 - September 28, 2014			June 24 - September 22, 2013
Gains/(losses) on cash flow hedges:
Foreign exchange contracts	$	(624	)	$	125		Sales
Foreign exchange contracts	(1,558		)	650			Cost of products sold
Foreign exchange contracts	—			(19		)	Selling, general, and administrative expenses
Foreign exchange contracts	148			672			Other expense
Foreign exchange contracts	—			—			Interest expense
Interest rate contracts	—			40			Interest expense
Cross-currency interest rate swap contracts	—			—			Other expense
Cross-currency interest rate swap contracts	—			—			Interest expense
	$	(2,034	)	$	1,468		Gains/(losses) from continuing operations before income tax
	(1,748		)	(288		)	Provision for income taxes
	$	(3,782	)	$	1,180		Gains/(losses) from continuing operations
Gains/(losses) on pension and post retirement benefit:
Amortization of unrecognized gain/(loss)	$	16		$	—		(a)
Prior service credit/(cost)	1,577			—			(a)
Settlement loss	—			—			(a)
	$	1,593		$	—		Gains/(losses) from continuing operations before income tax
	(607		)	—			Provision for income taxes
	$	986		$	—		Gains/(losses) from continuing operations

______________________________________

(a) As these components are included in the computation of net periodic pension and post-retirement benefit costs refer to Note 10 for further details.

26

Accumulated other comprehensive income/(loss) component	Reclassified from accumulated other comprehensive income/(loss) to earnings									Line affected by reclassification
	(In thousands)
	Successor						Predecessor
	December 30, 2013 - September 28, 2014			February 8 - September 22, 2013			December 24, 2012 - June 7, 2013
Gains/(losses) on cash flow hedges:
Foreign exchange contracts	$	(967	)	$	125		$	4,836		Sales
Foreign exchange contracts	7,207			650			4,695			Cost of products sold
Foreign exchange contracts	(125		)	(19		)	—			Selling, general, and administrative expenses
Foreign exchange contracts	966			672			9,761			Other expense
Foreign exchange contracts	6			—			230			Interest expense
Interest rate contracts	—			40			(98		)	Interest expense
Cross-currency interest rate swap contracts	—			—			(52,447		)	Other expense
Cross-currency interest rate swap contracts	—			—			(11,765		)	Interest expense
	$	7,087		$	1,468		$	(44,788	)	Gains/(losses) from continuing operations before income tax
	(6,911		)	(288		)	22,118			Provision for income taxes
	$	176		$	1,180		$	(22,670	)	Gains/(losses) from continuing operations
Gains/(losses) on pension and post retirement benefit:
Amortization of unrecognized gains/(losses)	$	47		$	—		$	(36,582	)	(a)
Prior service credit/(cost)	4,731			—			1,659			(a)
Settlement loss	—			—			(3,176		)	(a)
	$	4,778		$	—		$	(38,099	)	Gains/(losses) from continuing operations before income tax
	(1,813		)	—			11,191			Provision for income taxes
	$	2,965		$	—		$	(26,908	)	Gains/(losses) from continuing operations

______________________________________

(a) As these components are included in the computation of net periodic pension and post-retirement benefit costs refer to Note 10 for further details.

(12) Changes in Equity

The following table provides a summary of the changes in the carrying amounts of total equity, H. J. Heinz Corporation II shareholder equity and equity attributable to the noncontrolling interest:

	Capital Stock			Additional Capital		Retained Earnings			Accumulated OCI			Noncontrolling Interest		Total
Successor	(In thousands)
Balance as of December 29, 2013	$	16,140,000		$	1,427	$	(77,021	)	$	233,010		$	215,842	$	16,513,258
Comprehensive income/(loss) (a)	—			—		493,537			(500,514		)	10,464		3,487
Dividends paid to shareholder	(123,484		)	—		(416,516		)	—			—		(540,000		)
Capital contribution (b)	—			4,361		—			—			—		4,361
Stock option expense	—			6,162		—			—			—		6,162
Balance at September 28, 2014	$	16,016,516		$	11,950	$	—		$	(267,504	)	$	226,306	$	15,987,268

______________________________________

(a) The allocation of the individual components of comprehensive income/(loss) attributable to H. J. Heinz Corporation II and the noncontrolling interest is disclosed in Note 11. Comprehensive income attributable to the redeemable noncontrolling interest is $1.4 million for the nine months ended September 28, 2014.

(b) Represents non cash capital contribution associated with the push down of shares issued by Parent to certain employees in conjunction with the Bonus Swap Program. See Note 9.

27

(13) Debt

The Company's long-term debt consists of the following:

	Successor
	September 28, 2014			December 29, 2013
	(Unaudited)
	(In thousands)
$2.95 billion Term B-1 Loan	$	2,908,932		$	2,929,213
$6.55 billion Term B-2 Loan	6,471,153			6,518,524
$3.10 billion 4.25% Second Lien Senior Secured Notes due 2020	3,100,000			3,100,000
Other U.S. Dollar Debt due May 2013 — November 2034 (0.94%—7.96%)	9,891			10,774
Other Non-U.S. Dollar Debt due May 2013 — May 2023 (3.50%—11.00%)	61,812			70,411
2.00% U.S. Dollar Notes due September 2016	58,308			58,308
1.50% U.S. Dollar Notes due March 2017	17,742			17,743
3.125% U.S. Dollar Notes due September 2021	34,433			34,433
2.85% U.S. Dollar Notes due March 2022	5,599			5,599
$235 million 6.375% U.S. Dollar Debentures due July 2028	256,902			258,075
£125 million6.25% British Pound Notes due February 2030	214,845			218,507
$437 million 6.75% U.S. Dollar Notes due March 2032	475,281			476,943
$931 million 7.125% U.S. Dollar Notes due August 2039	1,024,070			1,026,881
	14,638,968			14,725,411
Less portion due within one year	(108,538		)	(107,765		)
Total long-term debt	$	14,530,430		$	14,617,646
Weighted-average interest rate on long-term debt, including the impact of applicable interest rate swaps	4.02		%	4.01		%

Senior Credit Facilities

The Senior Credit Facilities are with a syndicate of banks and other financial institutions and provide financing of up to $9.5 billion and consist of (i)(a) term B-1 loans in an aggregate principal amount of $2.95 billion (the “B-1 Loans”) and (b) term B-2 loans in aggregate principal amount of $6.55 billion (the “B-2 Loans”) in each case under the new senior secured term loan facilities (the “Term Loan Facilities”) and (ii) revolving loans of up to $2.0 billion (including revolving loans, swingline loans and letters of credit), a portion of which may be denominated in Euro, Sterling, Australian Dollars, Japanese Yen or New Zealand Dollars, under the new senior secured revolving loan facilities (the “Revolving Credit Facilities” and, together with the Term Loan Facilities, the "Senior Credit Facilities").

The borrower under the Senior Credit Facilities is Heinz. The obligations of Heinz under the Senior Credit Facilities are guaranteed by Holdings and each direct and indirect, existing and future, domestic material wholly-owned restricted subsidiary of the Company. The Senior Credit Facilities and any swap agreements and cash management arrangements provided by any party to the Senior Credit Facilities or any of its affiliates are expected to be secured on a first priority basis by a perfected security interest in substantially all of the Company's and each guarantor's tangible and intangible assets (subject to certain exceptions), including U.S. registered intellectual property, owned real property above a value to be agreed and all of the capital stock of the borrower and all capital stock directly held by the borrower or any subsidiary guarantor of each of its wholly-owned material restricted subsidiaries (limited to 65% of the capital stock of foreign subsidiaries).

The Senior Credit Facilities contain a number of customary affirmative and negative covenants that, among other things, limit or restrict the ability of the Company and its restricted subsidiaries to incur additional indebtedness (including guarantee obligations); incur liens; engage in mergers, consolidations, liquidations and dissolutions (other than the Merger); sell assets; pay dividends and make other payments in respect of capital stock; make acquisitions, investments, loans and advances; pay and modify the terms of certain indebtedness; engage in certain transactions with affiliates; enter into negative pledge clauses and clauses restricting subsidiary distributions; and change its line of business.

28

In addition, under the Senior Credit Facilities, the Company is required to comply with a specified first lien senior secured leverage ratio to the extent any loans are outstanding under the New Revolving Credit Facility or Letters of Credit issued and outstanding thereunder exceed $50 million as of the end of any fiscal quarter. The Senior Credit Facilities also contain certain customary representations and warranties, affirmative covenants and events of default. As of September 28, 2014, the Company is in compliance with these credit facility covenants.

4.25% Second Lien Senior Secured Notes

On April 1, 2013, in connection with the Merger, Merger Subsidiary completed the private placement of $3.1 billion aggregate principal amount of 4.25% Exchange Notes to initial purchasers for resale by the Initial Purchasers to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended ("Securities Act") and to persons outside the United States under Regulation S of the Securities Act. The Exchange Notes were issued pursuant to an indenture (the “Indenture”), dated as of April 1, 2013, by and among Merger Subsidiary, Holdings and Wells Fargo Bank, National Association, as trustee (in such capacity, the “Trustee”) and as collateral agent (in such capacity, the “Collateral Agent”).

The Exchange Notes are jointly and severally, unconditionally guaranteed on a senior secured basis, by Holdings and each direct and indirect, existing and future, domestic material wholly-owned restricted subsidiary that guarantee our obligations under the Senior Credit Facilities.

The Indenture (as supplemented by the Supplemental Indenture) limits the ability of the Company and its restricted subsidiaries to incur additional indebtedness or guarantee indebtedness; create liens or use assets as security in other transactions; declare or pay dividends, redeem stock or make other distributions to stockholders; make investments; merge or consolidate, or sell, transfer, lease or dispose of substantially all of our assets; enter into transactions with affiliates; sell or transfer certain assets; and agree to certain restrictions on the ability of restricted subsidiaries to make payments to us. We were in compliance with these covenants as of September 28, 2014.

The Company was required to cause an exchange offer registration statement for the Exchange Notes to be declared effective by the SEC under the Securities Act and to consummate the exchange offer not later than 365 days after the Merger closing date. The Company filed a Registration Statement for such an exchange offer on such Exchange Notes which became effective on May 7, 2014. See Note 18 for more details.

Debt issuance costs

As of September 28, 2014, unamortized debt issuance costs related to new borrowings under our current Senior Credit Facilities and the Exchange Notes were $255.1 million. The following table summarizes the amortization of debt issuance costs for the periods presented:

	Successor				Successor				Predecessor
	June 30 - September 28, 2014		June 24 - September 22, 2013		December 30, 2013 - September 28, 2014		February 8 - September 22, 2013		December 24, 2012 - June 7, 2013
	(In millions)
Amortization of debt issuance costs	$	12.2	$	12.2	$	36.6	$	14.8	$	18.5

These costs are amortized using the effective interest method over the respective term of debt to which they specifically relate.

29

(14) Financing Arrangements

On May 28, 2014, the Company entered into an amendment of the $175 million accounts receivable securitization program that extended the term until May 27, 2015. As a result of the amendment, the limit has been reduced to $150 million and the Company now accounts for transfers of receivables pursuant to this program as a sale and it removes them from the consolidated balance sheet. For the sale of receivables under the program, the Company receives cash consideration of up to $150 million and a receivable for the remainder of the purchase price (the "Deferred Purchase Price"). The cash consideration and the carrying amount of receivables removed from the condensed consolidated balance sheet was $150.0 million as of September 28, 2014. The fair value of the Deferred Purchase Price was $63.2 million as of September 28, 2014 which is included as a trade receivable on the condensed consolidated balance sheet and has a carrying value which approximates fair value as of September 28, 2014, due to the nature of the short-term underlying financial assets.

Prior to this amendment and subsequent to a May 31, 2013 amendment, the Company accounted for transfers of receivables pursuant to this program as secured borrowings, and the receivables sold pursuant to this program were included on the balance sheet as trade receivables, along with the Deferred Purchase price.

On August 29, 2014, the Company entered into a new $70 million Australian dollar and $50 million New Zealand dollar accounts receivable factoring program with a bank, replacing an existing arrangement with a different bank. These limits are net of the Deferred Purchase Price. This is a one year agreement that automatically continues after one year until either the Company or the bank decides to terminate it. The Company accounts for transfers of receivables pursuant to this program as a sale, and it removes them from the consolidated balance sheet. For the sale of receivables under the program, the Company receives cash consideration of up to $70 million Australian dollars and $50 million New Zealand dollars and a receivable for the Deferred Purchase Price. The cash consideration and the carrying amount of receivables removed from the condensed consolidated balance sheet was $57.8 million as of September 28, 2014 (and $40.3 million at December 29, 2013 under the prior program). The fair value of the Deferred Purchase Price was $31.8 million as of September 28, 2014 which is included as a trade receivable on the condensed consolidated balance sheet and has a carrying value which approximates fair value as of September 28, 2014, due to the nature of the short-term underlying financial assets.

In addition, the Company acted as servicer for approximately $28.4 million and $36.2 million of trade receivables which were sold to unrelated third parties without recourse as of September 28, 2014 and December 29, 2013, respectively. These trade receivables are short-term in nature. The proceeds from these sales are recognized on the condensed consolidated statements of cash flows as a component of operating activities.

The Company has not recorded any servicing assets or liabilities as of September 28, 2014 and December 29, 2013 for the arrangements discussed above because the fair value of these servicing agreements as well as the fees earned were not material to the financial statements.

(15) Fair Value Measurements

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value hierarchy consists of three levels to prioritize the inputs used in valuations, as defined below:

Level 1:  Observable inputs that reflect unadjusted quoted prices for identical assets or liabilities in active markets.

Level 2:  Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly.

Level 3:  Unobservable inputs for the asset or liability.

30

As of September 28, 2014 and December 29, 2013, the fair values of the Company’s assets and liabilities measured on a recurring basis are categorized as follows:

	September 28, 2014								December 29, 2013
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
	(In thousands)
Assets:
Derivatives(a)	$	—	$	284,021	$	—	$	284,021	$	—	$	346,665	$	—	$	346,665
Total assets at fair value	$	—	$	284,021	$	—	$	284,021	$	—	$	346,665	$	—	$	346,665
Liabilities:
Derivatives(a)	$	—	$	125,437	$	—	$	125,437	$	—	$	237,436	$	—	$	237,436
Total liabilities at fair value	$	—	$	125,437	$	—	$	125,437	$	—	$	237,436	$	—	$	237,436

_______________________________________

(a) Foreign currency derivative contracts are valued based on observable market spot and forward rates and classified within Level 2 of the fair value hierarchy. Interest rate swaps are valued based on observable market swap rates and classified within Level 2 of the fair value hierarchy. Cross-currency swaps are valued based on observable market spot and swap rates and classified within Level 2 of the fair value hierarchy.

The aggregate fair value of the Company's long-term debt, including the current portion, was $14.5 billion as compared with the carrying value of $14.6 billion at September 28, 2014, and $14.7 billion as compared with the carrying value of $14.7 billion at December 29, 2013. The Company's debt obligations are valued based on market quotes and are classified within Level 2 of the fair value hierarchy.

There have been no transfers between Levels 1, 2 and 3 in the third quarters ended September 28, 2014 and September 22, 2013, respectively.

(16) Derivative Financial Instruments and Hedging Activities

The Company operates internationally, with manufacturing and sales facilities in various locations around the world, and utilizes certain derivative financial instruments to manage its foreign currency, debt and interest rate exposures. At September 28, 2014, the Company had outstanding currency exchange, interest rate, and cross-currency swap derivative contracts with notional amounts of $2.7 billion, $9.0 billion and $8.3 billion respectively. At December 29, 2013, the Company had outstanding currency exchange, interest rate, and cross-currency swap derivative contracts with notional amounts of $2.5 billion, $9.0 billion and $8.3 billion, respectively.

31

The following table presents the fair values and corresponding balance sheet captions of the Company’s derivative instruments as of September 28, 2014 and December 29, 2013:

	September 28, 2014						December 29, 2013
	Foreign Exchange Contracts		Interest Rate Contracts		Cross-Currency Swap Contracts		Foreign Exchange Contracts		Interest Rate Contracts		Cross-Currency Swap Contracts
	(In thousands)
Assets:
Derivatives designated as hedging instruments:
Other receivables, net	$	24,828	$	—	$	—	$	37,072	$	—	$	—
Other non-current assets	2,905		87,508		79,563		4,129		265,390		31,303
	27,733		87,508		79,563		41,201		265,390		31,303
Derivatives not designated as hedging instruments:
Other receivables, net	89,217		—		—		8,771		—		—
Other non-current assets	—		—		—		—		—		—
	89,217		—		—		8,771		—		—
Total assets(1)	$	116,950	$	87,508	$	79,563	$	49,972	$	265,390	$	31,303
Liabilities:
Derivatives designated as hedging instruments:
Other payables	$	25,331	$	—	$	—	$	5,251	$	—	$	—
Other non-current liabilities	3,553		—		94,384		—		—		221,899
	28,884		—		94,384		5,251		—		221,899
Derivatives not designated as hedging instruments:
Other payables	2,169		—		—		10,286		—		—
Other non-current liabilities	—		—		—		—		—		—
Total liabilities(1)	$	31,053	$	—	$	94,384	$	15,537	$	—	$	221,899

_______________________________________

(1) The Company’s derivative financial instruments are subject to master netting arrangements that allow for the offset of asset and liabilities in the event of default or early termination of the contract. The Company elects to record the gross assets and liabilities of its derivative financial instruments in the condensed consolidated balance sheets. If the derivative financial instruments had been netted in the condensed consolidated balance sheets, the asset and liability positions each would have been reduced by $125.4 million and $237.4 million at September 28, 2014 and December 29, 2013, respectively. No material amounts of collateral were received or posted on the Company’s derivative assets and liabilities as of September 28, 2014.

Refer to Note 15 for further information on how fair value is determined for the Company’s derivatives.

32

The following table presents the pre-tax effect of derivative instruments on the condensed consolidated statements of operations for the periods presented:

	Successor
	June 30 - September 28, 2014							June 24 - September 22, 2013
	Foreign Exchange Contracts			Interest Rate Contracts		Cross-Currency Swap Contracts		Foreign Exchange Contracts			Interest Rate Contracts			Cross-Currency Swap Contracts
	(In thousands)
Cash flow hedges:
Gains/(losses) recognized in other comprehensive income (effective portion)	$	7,836		$	29,925	$	—	$	10,315		$	(13,201	)	$	—
Net investment hedges:
Gains/(losses) recognized in other comprehensive income (effective portion)	—			—		434,616		—			—			—
Total gains/(losses) recognized in other comprehensive income (effective portion)	$	7,836		$	29,925	$	434,616	$	10,315		$	(13,201	)	$	—
Cash flow hedges:
Sales	$	(624	)	$	—	$	—	$	125		$	—		$	—
Cost of products sold	(1,558		)	—		—		650			—			—
Selling, general and administrative expenses	—			—		—		(19		)	—			—
Other expense, net	148			—		—		672			—			—
Interest expense	—			—		—		—			40			—
	(2,034		)	—		—		1,428			40			—
Fair value hedges:
Gains/(losses) recognized in other expense, net	—			—		—		—			—			—
Derivatives not designated as hedging instruments:
Unrealized gains/(losses) on derivative instruments	—			—		—		—			—			—
Gains/(losses) recognized in other expense, net	99,411			—		—		36,353			—			—
Gains/(losses) recognized in interest income	—			—		—		—			—			—
	99,411			—		—		36,353			—			—
Total gains/(losses) recognized in statement of operations	$	97,377		$	—	$	—	$	37,781		$	40		$	—

33

	Successor																Predecessor
	December 30, 2013 - September 28, 2014								February 8 - September 22, 2013								December 24, 2012 - June 7, 2013
	Foreign Exchange Contracts			Interest Rate Contracts			Cross-Currency Swap Contracts		Foreign Exchange Contracts			Interest Rate Contracts			Cross-Currency Swap Contracts		Foreign Exchange Contracts			Interest Rate Contracts			Cross-Currency Interest Rate Swap Contracts
	(In thousands)
Cash flow hedges:
Gains/(losses) recognized in other comprehensive income (effective portion)	$	(22,017	)	$	(177,882	)	$	—	$	17,881		$	141,547		$	—	$	39,351		$	—		$	(57,558	)
Net investment hedges:
Gains/(losses) recognized in other comprehensive income (effective portion)	—			—			175,776		—			—			—		—			—			—
Total gains/(losses) recognized in other comprehensive income (effective portion)	$	(22,017	)	$	(177,882	)	$	175,776	$	17,881		$	141,547		$	—	$	39,351		$	—		$	(57,558	)
Cash flow hedges:
Sales	$	(967	)	$	—		$	—	$	125		$	—		$	—	$	4,836		$	—		$	—
Cost of products sold	7,207			—			—		650			—			—		4,695			—			—
Selling, general and administrative expenses	(125		)	—			—		(19		)	—			—		—			—			—
Other expense, net	966			—			—		672			—			—		9,761			—			(52,447		)
Interest expense	6			—			—		—			40			—		230			(98		)	(11,765		)
	7,087			—			—		1,428			40			—		19,522			(98		)	(64,212		)
Fair value hedges:
Gains/(losses) recognized in other expense, net	—			—			—		—			(180		)	—		—			(8,065		)	—
Derivatives not designated as hedging instruments:
Unrealized gains/(losses) on derivative instruments	—			—			—		—			117,934			—		—			—			—
Gains/(losses) recognized in other expense, net	98,815			—			—		36,434			—			—		(2,922		)	—			—
Gains/(losses) recognized in interest income	—			—			—		—			—			—		—			(10,512		)	—
	98,815			—			—		36,434			117,934			—		(2,922		)	(10,512		)	—
Total gains/(losses) recognized in statement of operations	$	105,902		$	—		$	—	$	37,862		$	117,794		$	—	$	16,600		$	(18,675	)	$	(64,212	)

Foreign Currency Hedging:

The Company uses forward contracts and, to a lesser extent, option contracts to mitigate its foreign currency exchange rate exposure due to forecasted purchases of raw materials and sales of finished goods, and future settlement of foreign currency denominated assets and liabilities. The Company’s principal foreign currency exposures that are hedged include the Australian dollar, British pound sterling, Canadian dollar, euro, and the New Zealand dollar. Derivatives used to hedge forecasted transactions and specific cash flows associated with foreign currency denominated financial assets and liabilities that meet the criteria for hedge accounting are designated as cash flow hedges. Consequently, the effective portion of gains and losses is deferred as a component of accumulated other comprehensive loss and is recognized in earnings at the time the hedged item affects earnings, in the same line item as the underlying hedged item.

Interest Rate Hedging:

The Company uses interest rate swaps to manage debt and interest rate exposures. The Company is exposed to interest rate volatility with regard to existing and future issuances of fixed and floating rate debt. Primary exposures include U.S. Treasury rates and London Interbank Offered Rates (LIBOR). Derivatives used to hedge risk associated with changes

34

in the fair value of certain fixed-rate debt obligations are primarily designated as fair value hedges. Consequently, changes in the fair value of these derivatives, along with changes in the fair value of the hedged debt obligations that are attributable to the hedged risk, are recognized in current period earnings.

The Company also entered into cross-currency interest rate swaps which were designated as cash flow hedges of the future payments of loan principal and interest associated with certain foreign denominated variable rate debt obligations. As a result of the merger, these contracts were terminated in May 2013.

Prior to the Merger date, Merger Subsidiary entered into interest rate swaps to mitigate exposure to variable rate debt that was raised to finance the acquisition. These agreements were not designated as hedging instruments prior to the acquisition date, and as such, we recognized the fair value of these instruments as an asset with gains recognized in income. As a result of the Merger and the transactions entered into in connection therewith, we have assumed the liabilities and obligations of Merger Subsidiary. Upon consummation of the acquisition, these interest rate swaps with an aggregate notional amount of $9.0 billion met the criteria for hedge accounting and were designated as hedges of future interest payments.

Deferred Hedging Gains and Losses:

As of September 28, 2014, the Company is hedging forecasted transactions for periods not exceeding 2 years. During the next 12 months, the Company expects $8.4 million of net deferred losses reported in accumulated other comprehensive loss to be reclassified to earnings, assuming market rates remain constant through contract maturities. Hedge ineffectiveness related to cash flow hedges, as well as reclassifications to earnings due to hedged transactions no longer expected to occur, which is reported in current period earnings as other income/(expense), net, was not significant for the third quarters of 2014 and 2013, respectively.

Hedges of Net Investments in Foreign Operations:

We have numerous investments in our foreign subsidiaries, the net assets of which are exposed to volatility in foreign currency exchange rates. Beginning in October 2013, we have used cross currency swaps to hedge a portion of our net investment in such foreign operations against adverse movements in exchange rates. We designated cross currency swap contracts between the pound sterling and USD, the euro and USD, the Australian dollar and USD, and the Japanese yen and USD, as net investment hedges of a portion of our equity in foreign operations in those currencies. The component of the gains and losses on our net investment in these designated foreign operations, driven by changes in foreign exchange rates, are economically offset by movements in the fair values of our cross currency swap contracts. The fair value of the swaps is calculated each period with changes in fair value reported in foreign currency translation adjustments within accumulated other comprehensive income (loss), net of tax. Such amounts will remain in other comprehensive income (loss) until the complete or substantially complete liquidation of our investment in the underlying foreign operations.

In relation to the cross currency swaps:

•We pay 6.462% per annum on the pound sterling notional amount of £2.795 billion and receive 6.15% per annum on the USD notional amount of $4.50 billion on each January 8, April 8, July 8 and October 8, through the maturity date of the swap, which was also expected to be on October 8, 2019.

•We pay 5.696% per annum on the Euro notional amount of €2.21 billion and receive 6.15% per annum on the USD notional amount of $3 billion on each January 9, April 9, July 9 and October 9, through the maturity date of the swap, which was also expected to be on October 9, 2019.

•We pay 9.164% per annum on the Australian dollar notional amount of A$793.8 million and receive 6.15% per annum on the USD notional amount of $750 million on each January 10, April 10, July 10 and October 10, through the maturity date of the swap, which was also expected to be on October 10, 2019.

•We pay 4.104% per annum on the Japanese yen notional amount of ¥4,854.5 billion and receive 6.15% per annum on the USD notional amount of $50 million on each January 11, April 11, July 11 and October 11, through the maturity date of the swap, which was also expected to be on October 11, 2019.

The net amounts paid or received on a quarterly basis are recorded in Other expense, net, in the condensed consolidated statements of operations. The Company paid net amounts of $2.7 million and $18.0 million related to cross currency swaps for the three and nine months ended September 28, 2014, respectively.

Other Activities:

The Company enters into certain derivative contracts in accordance with its risk management strategy that do not meet the criteria for hedge accounting but which have the economic impact of largely mitigating foreign currency or interest

35

rate exposures. The Company maintained foreign currency forward contracts with a total notional amount of $1.6 billion and $1.0 billion that did not meet the criteria for hedge accounting as of September 28, 2014 and December 29, 2013, respectively. These forward contracts are accounted for on a full mark-to-market basis through current earnings, with gains and losses recorded as a component of other income/(expense), net. Net unrealized gains/(losses) related to outstanding contracts totaled $87.0 million and $(1.3) million as of September 28, 2014 and December 29, 2013, respectively. These contracts are scheduled to mature within one year.

Concentration of Credit Risk:

Counterparties to currency exchange and interest rate derivatives consist of major international financial institutions. The Company continually monitors its positions and the credit ratings of the counterparties involved and, by policy, limits the amount of credit exposure to any one party. While the Company may be exposed to potential losses due to the credit risk of non-performance by these counterparties, losses are not anticipated. The Company closely monitors the credit risk associated with its counterparties and customers and to date has not experienced material losses.

(17) Venezuela- Foreign Currency and Inflation

We apply highly inflationary accounting to our business in Venezuela. Under highly inflationary accounting, the financial statements of our Venezuelan subsidiary are remeasured into our reporting currency (U.S. dollars), based on the exchange rate at which we expect to remit dividends in U.S. dollars, (which we currently determine to be the official exchange rate of 6.30 BsF/US$). Exchange gains and losses from the remeasurement of monetary assets and liabilities are reflected in current earnings, rather than accumulated other comprehensive loss on the balance sheet, until such time as the economy is no longer considered highly inflationary. The impact of applying highly inflationary accounting for Venezuela on our consolidated financial statements is therefore dependent upon movements in the official exchange rate between the Venezuelan bolivar fuerte and the U.S. dollar.

On February 8, 2013, the Venezuelan government announced the devaluation of its currency relative to the U.S. dollar, changing the official exchange rate from 4.30 to 6.30. As a result, the Company recorded a $42.9 million pre-tax currency translation loss, which was reflected within other expense, net, on the condensed consolidated statement of operations in the first quarter of 2013.

In March 2013, the Venezuelan government announced the creation of a new foreign exchange mechanism called the Complimentary System of Foreign Currency Acquirement (or SICAD, which stands for Sistema Complimentario de Administración de Divisas). It operates similar to an auction system and allows entities in specific sectors to bid for U.S. dollar to be used for specified import transactions. In January 2014, the government in Venezuela announced certain changes to the regulations governing the currency exchange market. The current official exchange rate remains applicable to import activities related to certain necessities, including food products.

In February 2014, the Venezuelan government established a new foreign exchange market mechanism (SICAD II), which became effective on March 24, 2014 and may be the market through which U.S. dollars will be obtained for the remittance of dividends. This market has significantly higher foreign exchange rates than those available through the other foreign exchange mechanisms.  Between March 24, 2014 and September 28, 2014 the published weighted average daily exchange rate was between 49.02 bolivars per USD and 51.86 bolivars per USD. The Company has had limited access to the SICAD II market mechanism and has converted 164.3 million bolivars into $3.1 million USD, recognizing a transactional currency loss of $2.0 million and $22.9 million for the three and nine months ended September 28, 2014, respectively, which has been recorded in other expense, net, in the condensed consolidated statements of operations.

The Company has also had access to, and had settlements at, the current official rate in this period and has outstanding requests for settlement at the official rate. Management continues to believe the official rate is legally available and appropriate for the Company's operations in Venezuela.  While there is considerable uncertainty with respect to the actual rates to be realized in the circumstances, as of September 28, 2014 we continue to believe it is appropriate to remeasure our Venezuelan monetary assets and liabilities at the official rate of 6.30 bolivars per U.S. dollar. The amount of net monetary assets and liabilities included in our Venezuelan subsidiary’s balance sheet was $144.4 million at September 28, 2014.

36

(18)    Supplemental Financial Information

On April 1, 2013, in connection with the Merger, Merger Subsidiary completed the private placement of $3.1 billion aggregate principal amount of 4.25% Exchange Notes to Initial Purchasers for resale by the Initial Purchasers to qualified institutional buyers pursuant to Rule 144A under the Securities Act and to persons outside the United States under Regulation S of the Securities Act. See Note 13 for more details.

The Exchange Notes are jointly and severally, fully and unconditionally guaranteed on a senior secured basis, subject to certain customary release provisions by the Guarantors, which represent most of Heinz's domestic subsidiaries, which guarantee our obligations under the Senior Credit Facilities.

The Issuer, H. J. Heinz Company ("Heinz"), and guarantor subsidiaries are 100% owned by Holdings.

The non-U.S. subsidiaries are identified below as Non-Guarantors. The following represents the condensed consolidating financial information for Holdings, the Issuer, the Guarantors on a combined basis, and the non-U.S. subsidiaries of Heinz (the “Non-Guarantors”), on a combined basis, together with eliminations, as of and for the periods indicated. The condensed consolidating financial information may not necessarily be indicative of the financial position, results of operations or cash flows had Holdings, Heinz, Guarantors and Non-Guarantors operated as independent entities.

The Company revised its condensed consolidating balance sheet as of December 29, 2013 presented herein to correct the amount recorded for pension obligations having the following impact on the Guarantor and Issuer columns:

• Decreasing Guarantor non-current assets by approximately $2 million and decreasing current and non-current liabilities by approximately $9 million and $17 million, respectively, with a corresponding increase in Guarantor accumulated other comprehensive income, after tax effect, of approximately $24 million.

• Increasing the Issuer investment in affiliates by approximately $24 million offset by a decrease in Issuer non-current assets of $26 million and an increase in Issuer current liabilities by approximately $9 million offset by a decrease in Issuer non-current liabilities by approximately $11 million.

The revisions had no impact on the Company's condensed consolidated financial statements as of December 29, 2013 or for the transition period then ended. The revisions also had no impact on the condensed consolidated statements of operations and of cash flows for the periods presented.

37

Successor

H. J. Heinz Corporation II and Subsidiaries

Condensed Consolidating Statements of Operations

Third Quarter Ended September 28, 2014

	Holdings			Issuer			Guarantors			Non-Guarantors			Eliminations			Consolidated
	(In thousands)
Sales	$	—		$	49,567		$	859,335		$	1,762,114		$	(77,131	)	$	2,593,885
Cost of product sold	—			393			601,921			1,152,679			(77,131		)	1,677,862
Gross profit	—			49,174			257,414			609,435			—			916,023
Selling, general and administrative expenses	—			36,599			147,775			322,522			—			506,896
Operating income	—			12,575			109,639			286,913			—			409,127
Interest expense/(income), net	—			153,995			6,246			(2,772		)	—			157,469
Other (expense)/income, net	—			(3,522		)	14,690			(48,618		)	—			(37,450		)
(Loss)/income before income taxes	—			(144,942		)	118,083			241,067			—			214,208
Equity in earnings of subsidiaries	171,618			303,868			170,015			—			(645,501		)	—
(Benefit from)/provision for income taxes	—			(12,692		)	4,595			48,324						40,227
Net income	171,618			171,618			283,503			192,743			(645,501		)	173,981
Less: Net income attributable to noncontrolling interest	—			—			—			2,363			—			2,363
Net income	$	171,618		$	171,618		$	283,503		$	190,380		$	(645,501	)	$	171,618
Total comprehensive loss	$	(267,981	)	$	(267,981	)	$	(376,562	)	$	(537,417	)	$	1,181,960		$	(267,981	)

38

Successor

H. J. Heinz Corporation II and Subsidiaries

Condensed Consolidating Statements of Operations

Third Quarter Ended September 22, 2013

	Holdings			Issuer			Guarantors			Non-Guarantors			Eliminations			Consolidated
	(In thousands)
Sales	$	—		$	56,966		$	905,516		$	1,775,685		$	(91,590	)	$	2,646,577
Cost of product sold	—			405			728,293			1,349,306			(91,590		)	1,986,414
Gross profit	—			56,561			177,223			426,379			—			660,163
Selling, general and administrative expenses	—			70,072			178,363			421,222			—			669,657
Operating (loss)/income	—			(13,511		)	(1,140		)	5,157			—			(9,494		)
Interest expense, net	—			152,462			2,717			5,732			—			160,911
Other expense, net	—			(2,246		)	(821		)	(6,752		)	—			(9,819		)
Loss from continuing operations before income taxes	—			(168,219		)	(4,678		)	(7,327		)	—			(180,224		)
Equity in (losses)/earnings of subsidiaries	(11,767		)	77,551			72,228			—			(138,012		)	—
Benefit from income taxes	—			(78,901		)	(11,543		)	(85,285		)	—			(175,729		)
(Loss)/income from continuing operations	(11,767		)	(11,767		)	79,093			77,958			(138,012		)	(4,495		)
Loss from discontinued operations, net of tax	—			—			—			(4,909		)	—			(4,909		)
Net (loss)/income	(11,767		)	(11,767		)	79,093			73,049			(138,012		)	(9,404		)
Less: Net income attributable to noncontrolling interest	—			—			—			2,363			—			2,363
Net (loss)/income	$	(11,767	)	$	(11,767	)	$	79,093		$	70,686		$	(138,012	)	$	(11,767	)
Total comprehensive income	$	281,846		$	281,846		$	372,208		$	381,905		$	(1,035,959	)	$	281,846

39

Successor

H. J. Heinz Corporation II and Subsidiaries

Condensed Consolidating Statements of Operations

Nine Months Ended September 28, 2014

	Holdings			Issuer			Guarantors		Non-Guarantors			Eliminations			Consolidated
	(In thousands)
Sales	$	—		$	164,861		$	2,711,434	$	5,497,793		$	(251,607	)	$	8,122,481
Cost of product sold	—			47,338			1,901,663		3,670,864			(251,607		)	5,368,258
Gross profit	—			117,523			809,771		1,826,929			—			2,754,223
Selling, general and administrative expenses	—			78,041			425,522		1,035,646			—			1,539,209
Operating income	—			39,482			384,249		791,283			—			1,215,014
Interest expense/(income), net	—			465,029			20,237		(3,330		)	—			481,936
Other (expense)/income, net	—			(20,279		)	8,164		(89,126		)	—			(101,241		)
(Loss)/income before income taxes	—			(445,826		)	372,176		705,487			—			631,837
Equity in earnings of subsidiaries	493,537			932,748			521,063		—			(1,947,348		)	—
(Benefit from)/provision for income taxes	—			(6,615		)	10,376		121,090			—			124,851
Net income	493,537			493,537			882,863		584,397			(1,947,348		)	506,986
Less: Net income attributable to noncontrolling interest	—			—			—		13,449			—			13,449
Net income	$	493,537		$	493,537		$	882,863	$	570,948		$	(1,947,348	)	$	493,537
Total comprehensive (loss)/income	$	(6,977	)	$	(6,977	)	$	518,232	$	168,740		$	(679,995	)	$	(6,977	)

40

Successor

H. J. Heinz Corporation II and Subsidiaries

Condensed Consolidating Statements of Operations

Period from February 8 - September 22, 2013

	Holdings			Issuer			Guarantors			Non-Guarantors			Eliminations			Consolidated
	(In thousands)
Sales	$	—		$	75,818		$	1,062,308		$	2,123,815		$	(111,938	)	$	3,150,003
Cost of product sold	—			405			908,986			1,639,685			(111,938		)	2,437,138
Gross profit	—			75,413			153,322			484,130			—			712,865
Selling, general and administrative expenses	—			69,461			229,138			535,790			—			834,389
Operating income/(loss)	—			5,952			(75,816		)	(51,660		)	—			(121,524		)
Interest expense, net	—			210,615			2,952			6,403			—			219,970
Other income/(expense), net	—			113,782			(1,122		)	(3,654		)	—			109,006
Loss from continuing operations before income taxes	—			(90,881		)	(79,890		)	(61,717		)	—			(232,488		)
Equity in (losses)/earnings of subsidiaries	(52,911		)	(12,893		)	64,939			—			865			—
Benefit from income taxes	—			(50,863		)	(11,465		)	(124,528		)	—			(186,856		)
(Loss)/income from continuing operations	(52,911		)	(52,911		)	(3,486		)	62,811			865			(45,632		)
Loss from discontinued operations, net of tax	—			—			—			(4,909		)	—			(4,909		)
Net (loss)/income	(52,911		)	(52,911		)	(3,486		)	57,902			865			(50,541		)
Less: Net income attributable to noncontrolling interest	—			—			—			2,370			—			2,370
Net (loss)/income	$	(52,911	)	$	(52,911	)	$	(3,486	)	$	55,532		$	865		$	(52,911	)
Total comprehensive income	$	186,191		$	186,191		$	125,626		$	195,887		$	(507,704	)	$	186,191

41

Predecessor

H. J. Heinz Corporation II and Subsidiaries

Condensed Consolidating Statements of Operations

Period from December 24, 2012 - June 7, 2013

	Holdings	Issuer			Guarantors			Non-Guarantors			Eliminations			Consolidated
	(In thousands)
Sales	NA	$	110,590		$	1,797,869		$	3,449,189		$	(153,950	)	$	5,203,698
Cost of product sold	NA	2,066			1,225,167			2,243,613			(153,950		)	3,316,896
Gross profit	NA	108,524			572,702			1,205,576			—			1,886,802
Selling, general and administrative expenses	NA	205,701			306,083			770,684			—			1,282,468
Operating (loss)/income	NA	(97,177		)	266,619			434,892			—			604,334
Interest expense, net	NA	74,849			38,805			6,546			—			120,200
Other expense, net	NA	(36,264		)	(107,867		)	(38,487		)	—			(182,618		)
(Loss)/income from continuing operations before income taxes	NA	(208,290		)	119,947			389,859			—			301,516
Equity in earnings of subsidiaries	NA	372,871			256,604			—			(629,475		)	—
Provision for income taxes	NA	69,579			28,906			61,681			—			160,166
Income from continuing operations	NA	95,002			347,645			328,178			(629,475		)	141,350
Loss from discontinued operations, net of tax	NA	—			—			(39,663		)	—			(39,663		)
Net income	NA	95,002			347,645			288,515			(629,475		)	101,687
Less: Net income attributable to noncontrolling interest	NA	—			—			6,685			—			6,685
Net income	NA	$	95,002		$	347,645		$	281,830		$	(629,475	)	$	95,002
Total comprehensive (loss)/income	NA	$	(281,174	)	$	40,726		$	28,192		$	(68,918	)	$	(281,174	)

42

Successor

H. J. Heinz Corporation II and Subsidiaries

Condensed Consolidating Balance Sheets

As of September 28, 2014

	Holdings		Issuer		Guarantors		Non-Guarantors		Eliminations			Consolidated
ASSETS	(In thousands)
Current assets:
Cash and cash equivalents	$	—	$	1,240	$	594,029	$	2,258,840	$	—		$	2,854,109
Trade receivables	—		—		—		812,038		—			812,038
Other receivables	—		209,073		6,413		105,027		—			320,513
Receivables due from affiliates	—		77,881		40,392		224,025		(342,298		)	—
Inventories:
Finished goods and work-in-process	—		—		500,855		684,803		—			1,185,658
Packaging material and ingredients	—		—		59,473		167,179		—			226,652
Total inventories	—		—		560,328		851,982		—			1,412,310
Prepaid expenses	—		16,385		29,180		109,579		(4,401		)	150,743
Short-term lending due from affiliates	—		205,529		496,431		678,905		(1,380,865		)	—
Other current assets	—		1,144		27,180		122,321		(64,380		)	86,265
Total current assets	—		511,252		1,753,953		5,162,717		(1,791,944		)	5,635,978
Property, plant and equipment:
Property, plant and equipment, gross	—		271,642		897,627		1,664,587		—			2,833,856
Less accumulated depreciation	—		34,505		184,384		213,265		—			432,154
Total property, plant and equipment, net	—		237,137		713,243		1,451,322		—			2,401,702
Other non-current assets:
Goodwill	—		—		8,718,583		6,449,008		—			15,167,591
Investments in subsidiaries	15,760,962		27,892,497		14,437,353		—		(58,090,812		)	—
Trademarks, net	—		4,691,000		478,500		6,606,807		—			11,776,307
Other intangibles, net	—		455,573		632,587		818,191		—			1,906,351
Long-term lending due from affiliates	—		—		4,278,686		199,875		(4,478,561		)	—
Other non-current assets	—		559,535		112,819		495,133		—			1,167,487
Total other non-current assets	15,760,962		33,598,605		28,658,528		14,569,014		(62,569,373		)	30,017,736
Total assets	$	15,760,962	$	34,346,994	$	31,125,724	$	21,183,053	$	(64,361,317	)	$	38,055,416

43

Successor

H. J. Heinz Corporation II and Subsidiaries

Condensed Consolidating Balance Sheets

As of September 28, 2014

	Holdings		Issuer		Guarantors		Non-Guarantors		Eliminations			Consolidated
LIABILITIES AND STOCKHOLDERS EQUITY	(In thousands)
Current liabilities:
Short-term debt	$	—	$	—	$	—	$	904	$	—		$	904
Short-term lending due to affiliates	—		658,117		447,561		275,187		(1,380,865		)	—
Portion of long-term debt due within one year	—		95,000		335		13,203		—			108,538
Trade payables	—		15,830		458,891		919,510		—			1,394,231
Payables due to affiliates	—		128,360		53,214		160,724		(342,298		)	—
Other payables	—		24,501		22,321		70,624		—			117,446
Accrued trade promotions and marketing	—		—		45,982		283,691		—			329,673
Other accrued liabilities	—		207,760		106,410		378,774		(4,401		)	688,543
Income taxes	—		317,554		12,603		210		(64,380		)	265,987
Total current liabilities	—		1,447,122		1,147,317		2,102,827		(1,791,944		)	2,905,322
Long-term debt and other non-current liabilities:
Long-term debt	—		12,501,167		1,765,809		263,454		—			14,530,430
Long-term borrowings due to affiliates	—		2,000,000		199,875		2,524,982		(4,724,857		)	—
Deferred income taxes	—		2,421,510		169,116		1,363,748					3,954,374
Non-pension post-retirement benefits	—		5,078		137,088		49,220		—			191,386
Other non-current liabilities	—		211,155		31,976		214,190		—			457,321
Total long-term debt and other non-current liabilities	—		17,138,910		2,303,864		4,415,594		(4,724,857		)	19,133,511
Redeemable noncontrolling interest	—		—		—		29,315		—			29,315
Total shareholder equity	15,760,962		15,760,962		27,674,543		14,409,011		(57,844,516		)	15,760,962
Noncontrolling interest	—		—		—		226,306		—			226,306
Total equity	15,760,962		15,760,962		27,674,543		14,635,317		(57,844,516		)	15,987,268
Total liabilities and equity	$	15,760,962	$	34,346,994	$	31,125,724	$	21,183,053	$	(64,361,317	)	$	38,055,416

44

Successor

H. J. Heinz Corporation II and Subsidiaries

Condensed Consolidating Balance Sheets

As of December 29, 2013

	Holdings		Issuer		Guarantors		Non-Guarantors		Eliminations			Consolidated
ASSETS	(In thousands)
Current assets:
Cash and cash equivalents	$	—	$	48,396	$	943,741	$	1,466,855	$	—		$	2,458,992
Trade receivables	—		—		—		1,099,655		—			1,099,655
Other receivables	—		39,816		15,406		189,306		—			244,528
Receivables due from affiliates	—		83,618		21,752		60,974		(166,344		)	—
Inventories:
Finished goods and work-in-process	—		—		452,230		686,143		—			1,138,373
Packaging material and ingredients	—		—		101,332		195,691		—			297,023
Total inventories	—		—		553,562		881,834		—			1,435,396
Prepaid expenses	—		12,784		25,560		127,870		(21,118		)	145,096
Short-term lending due from affiliates	—		1,807,502		32,777		602,059		(2,442,338		)	—
Other current assets	—		—		50,720		51,239		(41,501		)	60,458
Total current assets	—		1,992,116		1,643,518		4,479,792		(2,671,301		)	5,444,125
Property, plant and equipment:
Property, plant and equipment, gross	—		238,618		804,277		1,786,596		—			2,829,491
Less accumulated depreciation	—		15,064		54,016		96,919		—			165,999
Total property, plant and equipment, net	—		223,554		750,261		1,689,677		—			2,663,492
Other non-current assets:
Goodwill	—		—		8,554,726		6,515,336		—			15,070,062
Investments in subsidiaries	16,297,416		26,057,892		15,500,336		—		(57,855,644		)	—
Trademarks, net	—		4,659,800		624,300		6,846,773		—			12,130,873
Other intangibles, net	—		804,370		666,472		887,939		—			2,358,781
Long-term lending due from affiliates	—		—		3,305,383		202,767		(3,508,150		)	—
Other non-current assets	—		660,829		106,116		538,070		—			1,305,015
Total other non-current assets	16,297,416		32,182,891		28,757,333		14,990,885		(61,363,794		)	30,864,731
Total assets	$	16,297,416	$	34,398,561	$	31,151,112	$	21,160,354	$	(64,035,095	)	$	38,972,348

45

Successor

H. J. Heinz Corporation II and Subsidiaries

Condensed Consolidating Balance Sheets

As of December 29, 2013

	Holdings		Issuer		Guarantors		Non-Guarantors		Eliminations			Consolidated
LIABILITIES AND STOCKHOLDERS EQUITY	(In thousands)
Current liabilities:
Short-term debt	$	—	$	—	$	—	$	143,689	$	—		$	143,689
Short-term lending due to affiliates	—		9,589		2,408,903		23,846		(2,442,338		)	—
Portion of long-term debt due within one year	—		95,000		430		12,335		—			107,765
Trade payables	—		13,389		326,636		852,049		—			1,192,074
Payables due to affiliates	—		49,265		60,488		56,591		(166,344		)	—
Other payables	—		16,349		2,569		129,275		—			148,193
Accrued trade promotions and marketing	—		—		80,892		289,437		—			370,329
Other accrued liabilities	—		226,289		148,609		406,841		(21,118		)	760,621
Income taxes	—		192,282		2,120		49,287		(41,501		)	202,188
Total current liabilities	—		602,163		3,030,647		1,963,350		(2,671,301		)	2,924,859
Long-term debt and other non-current liabilities:
Long-term debt	—		12,568,819		1,772,244		276,583		—			14,617,646
Long-term borrowings due to affiliates	—		2,000,000		202,766		1,554,633		(3,757,399		)	—
Deferred income taxes	—		2,554,207		186,722		1,419,974		—			4,160,903
Non-pension post-retirement benefits	—		3,732		138,136		54,504		—			196,372
Other non-current liabilities	—		372,224		35,989		121,212		—			529,425
Total long-term debt and other non-current liabilities	—		17,498,982		2,335,857		3,426,906		(3,757,399		)	19,504,346
Redeemable noncontrolling interest	—		—		—		29,885		—			29,885
Total shareholder equity	16,297,416		16,297,416		25,784,608		15,524,371		(57,606,395		)	16,297,416
Noncontrolling interest	—		—		—		215,842		—			215,842
Total equity	16,297,416		16,297,416		25,784,608		15,740,213		(57,606,395		)	16,513,258
Total liabilities and equity	$	16,297,416	$	34,398,561	$	31,151,112	$	21,160,354	$	(64,035,095	)	$	38,972,348

46

Successor

H. J. Heinz Corporation II and Subsidiaries

Condensed Consolidating Statements of Cash Flows

For the Nine Months Ended September 28, 2014

	Holdings			Issuer			Guarantors			Non-Guarantors			Eliminations			Consolidated
Operating Activities:	(In thousands)
Cash provided by operating activities	$	416,516		$	205,608		$	572,502		$	1,030,123		$	(892,468	)	$	1,332,281
Investing activities:
Capital expenditures	—			(44,885		)	(108,303		)	(94,262		)	—			(247,450		)
Net payments on intercompany lending activities	—			(273,027		)	(240,300		)	(44,333		)	557,660			—
Return of capital	123,484			—			—			—			(123,484		)	—
Other items, net	—			14,072			18,533			5,626			—			38,231
Cash provided by/(used for) investing activities	123,484			(303,840		)	(330,070		)	(132,969		)	434,176			(209,219		)
Financing activities:
Payments on long-term debt	—			(71,250		)	(674		)	(2,673		)	—			(74,597		)
Proceeds from long-term debt	—			—			—			1,586			—			1,586
Net proceeds/(payments) on intercompany borrowing activities	—			648,532			(115,518		)	24,646			(557,660		)	—
Net payments on commercial paper and short-term debt	—			—			—			(11,338		)	—			(11,338		)
Dividends	(540,000		)	(540,000		)	(475,952		)	—			1,015,952			(540,000		)
Other items, net	—			13,794			—			—			—			13,794
Cash (used for)/provided by financing activities	(540,000		)	51,076			(592,144		)	12,221			458,292			(610,555		)
Effect of exchange rate changes on cash and cash equivalents	—			—			—			(117,390		)	—			(117,390		)
Net (decrease)/increase in cash and cash equivalents	—			(47,156		)	(349,712		)	791,985			—			395,117
Cash and cash equivalents at beginning of period	—			48,396			943,741			1,466,855			—			2,458,992
Cash and cash equivalents at end of period	$	—		$	1,240		$	594,029		$	2,258,840		$	—		$	2,854,109

47

Successor

H. J. Heinz Corporation II and Subsidiaries

Condensed Consolidating Statements of Cash Flows

For the Period February 8 - September 22, 2013

	Holdings			Issuer			Guarantors			Non-Guarantors			Eliminations			Consolidated
Operating Activities:	(In thousands)
Cash (used for)/provided by operating activities	$	—		$	(201,763	)	$	196		$	233,187		$	(223,922	)	$	(192,302	)
Investing activities:
Capital expenditures	—			(14,698		)	(12,381		)	(44,056		)	—			(71,135		)
Net proceeds/(payments) on intercompany lending activities	—			284,606			(5,161		)	149,030			(428,475		)	—
Additional investments in subsidiaries	(16,500,000		)	—			—			—			16,500,000			—
Acquisition of business, net of cash on hand	—			(23,564,251		)	407,067			1,662,897			—			(21,494,287		)
Return of capital	180,000			—			—			—			(180,000		)	—
Change in restricted cash	—			—			—			—			—			—
Other items, net	—			—			(3,126		)	(163		)	—			(3,289		)
Cash (used for)/provided by investing activities	(16,320,000		)	(23,294,343		)	386,399			1,767,708			15,891,525			(21,568,711		)
Financing activities:
Payments on long-term debt	—			(1,683,918		)	(950,037		)	(11,951		)	—			(2,645,906		)
Proceeds from long-term debt	—			12,568,875			—			4,859			—			12,573,734
Debt issuance costs	—			(320,824		)	—			—			—			(320,824		)
Net (payments)/proceeds on intercompany borrowing activities	—			(1,809,129		)	1,449,730			(69,076		)	428,475			—
Net payments on commercial paper and short-term debt	—			(1,600,000		)	—			(56,924		)	—			(1,656,924		)
Dividends	(180,000		)	(180,000		)	(114,461		)	(109,461		)	403,922			(180,000		)
Capital contribution	16,500,000			16,500,000			—			—			(16,500,000		)	16,500,000
Other items, net	—			22,214			3,570			289			—			26,073
Cash provided by/(used for) financing activities	16,320,000			23,497,218			388,802			(242,264		)	(15,667,603		)	24,296,153
Effect of exchange rate changes on cash and cash equivalents	—			—			—			(3,630		)	—			(3,630		)
Net increase in cash and cash equivalents	—			1,112			775,397			1,755,001			—			2,531,510
Cash and cash equivalents at beginning of period	—			—			—			—			—			—
Cash and cash equivalents at end of period	$	—		$	1,112		$	775,397		$	1,755,001		$	—		$	2,531,510

48

Predecessor

H. J. Heinz Corporation II and Subsidiaries

Condensed Consolidating Statements of Cash Flows

For the Period December 24, 2012 - June 7, 2013

	Holdings	Issuer			Guarantors			Non-Guarantors			Eliminations			Consolidated
Operating Activities:	(In thousands)
Cash provided by operating activities	NA	$	403,272		$	379,863		$	440,752		$	(556,336	)	$	667,551
Investing activities:
Capital expenditures	NA	(2,764		)	(123,740		)	(164,913		)	—			(291,417		)
Net payments on intercompany lending activities	NA	(859,093		)	(586,335		)	(558,875		)	2,004,303			—
Other intercompany investing transactions	NA	(282,572		)	261,544			—			21,028			—
Other items, net	NA	(1,475		)	31,992			2,745			—			33,262
Cash used for investing activities	NA	(1,145,904		)	(416,539		)	(721,043		)	2,025,331			(258,155		)
Financing activities:
Payments on long-term debt	NA	(306,354		)	(137,674		)	(5,819		)	—			(449,847		)
Proceeds from long-term debt	NA	—			—			4,968			—			4,968
Net (payments)/proceeds on intercompany borrowing activities	NA	(263,991		)	1,856,899			411,395			(2,004,303		)	—
Net proceeds/(payments) on commercial paper and short-term debt	NA	1,600,000			(1,269,101		)	(33,684		)	—			297,215
Dividends	NA	(331,654		)	(446,065		)	(110,271		)	556,336			(331,654		)
Exercise of stock options	NA	19,387			—			—			—			19,387
Purchase of treasury stock	NA	(17,762		)	—			—			—			(17,762		)
Other intercompany capital stock transactions	NA	(4,000		)	285,739			(260,711		)	(21,028		)	—
Other items, net	NA	47,010			(44,343		)	(6,340		)	—			(3,673		)
Cash provided by/(used for) financing activities	NA	742,636			245,455			(462		)	(1,468,995		)	(481,366		)
Effect of exchange rate changes on cash and cash equivalents	NA	—			—			(140,483		)	—			(140,483		)
Net increase/(decrease) in cash and cash equivalents	NA	4			208,779			(421,236		)	—			(212,453		)
Cash and cash equivalents at beginning of period	NA	—			198,288			2,084,132			—			2,282,420
Cash and cash equivalents at end of period	NA	$	4		$	407,067		$	1,662,896		$	—		$	2,069,967

49

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

The Merger

Heinz has been a pioneer in the food industry for over 140 years and possesses one of the world's best and most recognizable brands - Heinz^®. The Company has a global portfolio of leading brands focused in three core categories, Ketchup and Sauces, Meals and Snacks, and Infant/Nutrition.

On August 1, 2014, the Company's Board of Directors approved a change to the Company's name from Hawk Acquisition Intermediate Corporation II to H. J. Heinz Corporation II.

On February 13, 2013, Heinz entered into the Merger Agreement with Parent and Merger Subsidiary. The acquisition was consummated on June 7, 2013, and as a result, Merger Subsidiary merged with and into Heinz, with Heinz surviving as a wholly owned subsidiary of Holdings (together with its subsidiaries, the "Company"), which is in turn an indirect wholly owned subsidiary of Parent. Parent is controlled by Berkshire Hathaway Inc. and 3G Special Situations Fund III, L.P. (together the "Sponsors"). Holdings has no operations and its Balance Sheet is comprised solely of its investment in Heinz and share capital owned by its parent, Hawk Acquisition Intermediate Corporation I.

Purchase Accounting Effects. The Merger was accounted for using the acquisition method of accounting which affected our results of operations in certain significant respects. The Sponsors' cost of acquiring the Company has been pushed-down to establish a new accounting basis for the Company. Accordingly, the accompanying interim condensed consolidated financial statements are presented for two periods, Predecessor and Successor, which relate to the accounting periods preceding and succeeding the completion of the Merger. The allocation of the total purchase price to the Company's net tangible and identifiable intangible assets were based on fair values as of the Merger date, as described further in Note 2 to the Financial Statements. The purchase accounting adjustment to inventory resulted in an increase in cost of products sold of approximately $259 million and $383 million in the three months and 15 weeks Successor periods ended September 22, 2013, respectively, as those products were sold to customers during the period subsequent to the Merger. The following are also reflected in our results of operations for the nine month period ended September 28, 2014 as compared with the comparable nine month period ended September 22, 2013:

• Incremental amortization and depreciation of approximately $36 million on the step-up in basis of definite-lived tangible and intangible assets which was included within cost of products sold.

• Incremental interest expense of $179 million related to new borrowings under the Senior Credit Facilities and the Exchange Notes issued in a private offering, in connection with the Merger.

• The purchase accounting adjustment to eliminate pre Merger deferred pension costs resulted in a decrease in pension expense of approximately $17 million which was primarily reflected as a reduction in cost of products sold.

• The purchase accounting adjustment to eliminate pre Merger deferred derivative gains related to foreign currency cash flow hedges resulted in an increase in cost of products sold of approximately $8 million.

Periods Presented

Successor - the condensed consolidated financial statements as of September 28, 2014, and for the period from February 8, 2013 through September 28, 2014. The accounts of Merger Subsidiary from inception on February 8, 2013 to the date of its merger into the Company on June 7, 2013 were included in the Successor period June 8, 2013 to December 29, 2013 as presented in the Registration Statement on Form S-4 which became effective May 7, 2014. The activity in Merger Subsidiary for the period February 8, 2013 to June 7, 2013 related primarily to the issuance of the Exchange Notes and recognition of associated issuance costs and interest expense. The cash was invested in a money market account until the completion of the Merger on June 7, 2013.

Transition period - the period from April 29, 2013 to December 29, 2013.

Predecessor - the condensed consolidated financial statements of the Company prior to the Merger on June 7, 2013.

Executive Overview

During the third quarter ended September 28, 2014, the Company's total sales were $2.59 billion, compared to $2.65 billion for the Successor period June 24 to September 22, 2013 (based on the Company's former fiscal month end). Volume decreased 3.9% primarily due to frozen meals and snacks category softness and share losses in our frozen potatoes and snacks businesses in U.S.

50

Consumer Products, softness in Indonesian cordials sales following the festive period and the transition to a new distributor network, chilled beverage product rationalization and reduced promotional activity in the tuna and seafood category in Australia, and raw material and packaging supply constraints in Venezuela. Net pricing increased sales by 2.4%, driven primarily by price increases in Venezuela. Unfavorable foreign exchange translation rates decreased sales by 0.4%. Sales decreased 0.2% due to divestitures.

In the third quarter ended September 28, 2014 and the Successor period from June 24 to September 22, 2013, gross profit, operating income and net income were significantly impacted by restructuring related costs and expenses. In addition, the Successor period from June 24 to September 22, 2013 was impacted by a non-cash charge to cost of sales for the step up in inventory value noted in The Merger section above.

Adjusted earnings before interest, tax, depreciation and amortization ("Adjusted EBITDA") increased $149 million or 30.1%, to $646 million, primarily reflecting the reduction in cost of products sold and SG&A due to efficiencies driven by restructuring and productivity initiatives. Refer to EBITDA & Adjusted EBITDA (from Continuing Operations) within the Non-GAAP Measures section below for our definition of Adjusted EBITDA.

See The Merger and Results of Continuing Operations sections for further analysis of our operating results for the quarter.

Restructuring and Productivity Initiatives

During the transition period and the first nine months of 2014, the Company invested in restructuring and productivity initiatives as part of its ongoing cost reduction efforts with the goal of driving efficiencies and creating fiscal resources that will be reinvested into the Company's business as well as to accelerate overall productivity on a global scale. As of September 28, 2014, these initiatives have resulted in the reduction of approximately 4,050 corporate and field positions across the Company's global business segments (excluding the factory closures noted below). Including charges incurred as of September 28, 2014, the Company currently estimates it will incur total charges of approximately $300 million related to severance benefits and other severance-related expenses related to the reduction in corporate and field positions, of which $289 million has been incurred through September 28, 2014. The ongoing annual cost savings is estimated to be approximately $250 million. The severance-related charges and cost savings assumptions that the Company expects to incur in connection with these work force reductions are subject to a number of assumptions and may differ from actual results. See Note 5, “Restructuring and Productivity Initiatives” for additional information on these productivity initiatives. There were no such charges in the first three months of 2013.

In addition, the Company has announced the planned closure of 5 factories across the U.S., Canada and Europe during 2014.  The number of employees expected to be impacted by these 5 plant closures and consolidation is approximately 1,600, of which 1,450 had left the Company as of September 28, 2014. The Company currently estimates it will incur charges of approximately $91 million related to severance benefits and other severance-related expenses related to these factory closures, of which $86 million has been incurred through September 28, 2014. In addition the Company will recognize accelerated depreciation on assets to be disposed of. The ongoing annual cost savings is estimated to be approximately $80 million. The severance-related charges and cost savings assumptions that the Company expects to incur in connection with these factory workforce reductions and factory closures are subject to a number of assumptions and may differ from actual results. The Company may also incur other charges not currently contemplated due to events that may occur as a result of, or related to, these cost reductions.

Furthermore, the Company announced the planned closure of an additional factory in Europe in the first half of 2015 due to the expiration of a license to manufacture a non-core product. The number of employees expected to be impacted by this plant closure is approximately 200. The Company expects to incur charges of approximately $12 million related to severance benefits and other severance-related expenses related to this factory closure which it recorded in the quarter ended September 28, 2014. In addition, the Company recognized $33 million in non-cash asset write-downs due to the planned closure.

The Company recorded pre-tax costs related to these productivity initiatives of $81 million and $338 million in the three and nine months ended September 28, 2014, respectively, which were recorded in the Non-Operating segment. See Note 5. Charges in the Successor period February 8 to September 22, 2013 and the Predecessor period December 24, 2012, to June 7, 2013 were $70 million and $6 million, respectively.

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Discontinued Operations

In January 2013, the Company’s Board of Directors approved management’s plan to sell Shanghai LongFong Foods (“LongFong”), a maker of frozen products in China which was previously reported in the Asia/Pacific segment. As a result, LongFong’s net assets were classified as held for sale and the Company adjusted the carrying value to estimated fair value, recording a $36 million pre-tax and after-tax non-cash goodwill impairment charge to discontinued operations in January 2013. The sale was completed in June 2014, resulting in an insignificant pre-tax and after-tax loss which was recorded in discontinued operations in the Successor period. See Note 6.

THREE MONTHS ENDED SEPTEMBER 28, 2014 (SUCCESSOR) AND SEPTEMBER 22, 2013 (SUCCESSOR)

Results of Continuing Operations

On October 21, 2013, our board of directors approved a change in our fiscal year-end from the Sunday closest to April 30 to the Sunday closest to December 31. As a result of this change, the Company filed its Annual Report for the transition period beginning on April 29, 2013 and ending on December 29, 2013 in its Registration Statement.

Sales were $2.59 billion for the quarter ended September 28, 2014 compared with $2.65 billion for the quarter ended September 22, 2013, a decrease of $53 million, or 2.0%. Volume decreased 3.9% primarily due to frozen meals and snacks category softness and share losses in our frozen potatoes and snacks businesses in U.S. Consumer Products, softness in Indonesian cordials sales following the festive period and the transition to a new distributor network, chilled beverage product rationalization and reduced promotional activity in the tuna and seafood category in Australia, and raw material and packaging supply constraints in Venezuela. Net pricing increased sales by 2.4%, driven primarily by price increases in Venezuela. Unfavorable foreign exchange rates decreased sales by 0.4%. Sales decreased 0.2% due to divestitures.

Gross profit was $916 million for the quarter ended September 28, 2014 compared with $660 million for the quarter ended September 22, 2013, an increase of $256 million, or 38.8%, and gross profit margin increased to 35.3% from 24.9%. The third quarter of 2014 included charges in cost of products sold for restructuring and productivity initiatives of $68 million (which are recorded in the non-operating segment). In addition, it included incremental costs totaling $23 million, primarily for additional logistics costs incurred related to the U.S. SAP go-live, which was launched in the second quarter of 2014, along with equipment relocation charges not specifically related to restructuring activities. The quarter ended September 22, 2013, incurred higher cost of products sold associated with the purchase accounting step up in inventory value of $259 million, and $21 million primarily in severance and employee benefit costs relating to the reduction of corporate and field positions across the Company. The remaining improvement in gross profit was due to reduced cost of products sold resulting from restructuring and productivity related initiatives.

Selling, general and administrative expenses ("SG&A") were $507 million for the quarter ended September 28, 2014 compared with $572 million for the quarter ended September 22, 2013, a decrease of $65 million, or 11.4%, and decreased as a percentage of sales to 19.5% from 21.6%. The third quarter of 2014 included charges for restructuring and productivity initiatives of $13 million (which are recorded in the non-operating segment). In addition, it included incremental costs totaling $41 million, primarily for additional warehousing and other logistics costs incurred related to the U.S. SAP go-live and employee benefit costs not associated with our restructuring activities (which are recorded in the non-operating segment). The quarter ended September 22, 2013, included $47 million primarily in severance and employee benefit costs relating to the reduction of corporate and field positions across the Company, professional fees, and contract and lease termination costs. The remaining decrease in SG&A is attributable to lower fixed selling and distribution and general and administrative expense primarily resulting from restructuring and productivity related initiatives and lower marketing expense.

Merger related costs in the quarter ended September 22, 2013 were $98 million consisting primarily of advisory fees, legal, accounting and other professional costs.

Net interest expense was $157 million for the quarter ended September 28, 2014 compared with $161 million for the quarter ended September 22, 2013, a decrease of $3 million, reflecting higher interest income as a result of higher average cash and cash equivalent balances.

Other expense, net, was $37 million for the quarter ended September 28, 2014 compared with $10 million for the quarter ended September 22, 2013, an increase of $28 million. The increase is primarily related to additional unrealized currency losses in the quarter ended September 28, 2014.

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Tax expense was $40 million or 18.8% of pretax income for the quarter ended September 28, 2014, compared with a tax benefit of $176 million or 97.5% of pretax loss for the quarter ended September 22, 2013. The difference in effective tax rates is primarily driven by the prior year period including a $107 million benefit related to the impact on deferred taxes of a 300 basis point statutory tax rate reduction in the United Kingdom which was enacted during July 2013 as well as the prior year benefiting from significant restructuring charges recorded in the United States, which has a high relative statutory tax rate. 

The net income from continuing operations attributable to H. J. Heinz Corporation II was $172 million for the quarter ended September 28, 2014 compared with a net loss from continuing operations of $7 million for the quarter ended September 22, 2013, an increase in income of $178 million period over period.

Adjusted EBITDA was $646 million for the quarter ended September 28, 2014 compared with $497 million for the quarter ended September 22, 2013, an increase of $149 million, or 30.1%, primarily reflecting the reduction in cost of products sold and SG&A due to efficiencies driven by restructuring and productivity initiatives.

OPERATING RESULTS BY BUSINESS SEGMENT

In the first quarter of 2014, the Company transitioned to new segments, which are aligned to the new organizational structure implemented during the transition period. These new segments reflect how senior management run the business from an organizational perspective and look at the internal management reporting used for decision-making. The Company has reclassified the segment data for the prior period to conform to the current period’s presentation.

North America

Sales for the North America segment were $982 million for the quarter ended September 28, 2014 compared with $1.05 billion for the quarter ended September 22, 2013, a decrease of $67 million, or 6.4%. Volume was down 5.5% primarily due to frozen meals and snacks category softness and share losses in our frozen potatoes and snacks businesses in U.S. Consumer Products and lower promotional activity in Canada, partially offset by U.S. Foodservice. Lower net price of 0.2% was due to increased promotional activity in U.S. Consumer Products, partially offset by a reduction in such activities in Canada. Unfavorable Canadian exchange rates decreased sales 0.7%.

Gross profit was $382 million for the quarter ended September 28, 2014 compared with $271 million for the quarter ended September 22, 2013, an increase of $111 million, or 41.1%, and gross profit margin increased to 38.9% from 25.8%. These increases are primarily related to lower cost of products sold as a result of various restructuring and productivity initiatives and the purchase accounting step up in inventory value of $115 million recorded in the quarter ended September 22, 2013, largely offset by the lower volumes noted above. Adjusted EBITDA was $281 million for the quarter ended September 28, 2014 compared with $261 million for the quarter ended September 22, 2013, an increase of $20 million, or 7.7%, reflecting the increase in gross profit noted above and lower SG&A primarily due to reduced costs related to workforce reductions and lower marketing spend.

Europe

Sales for Heinz Europe were $696 million for the quarter ended September 28, 2014 compared with $694 million for the quarter ended September 22, 2013, an increase of $2 million, or 0.3%. Volume was down 0.5% as increases in the U.K. soup and beans category and Sweden were offset by similar levels of declines across the rest of the segment. Net pricing decreased 1.4% as increased promotional activity in the U.K. and Italy to counteract category softness were partially offset by higher pricing in Eastern Europe. Favorable exchange rates increased sales 2.9%. The divestiture of a small soup business in Germany decreased sales 0.6%.

Gross profit was $296 million for the quarter ended September 28, 2014 compared with $186 million for the quarter ended September 22, 2013, an increase of $110 million, or 59.5%, and gross profit margin increased to 42.5% from 26.8%. These increases are primarily related to lower cost of products sold as a result of various restructuring and productivity initiatives and the purchase accounting step up in inventory value of $72 million recorded in the quarter ended September 22, 2013. Adjusted EBITDA was $205 million for the quarter ended September 28, 2014 compared with $144 million for the quarter ended September 22, 2013, an increase of $62 million, or 43.0%, reflecting the increase in gross profit and lower SG&A primarily related to productivity initiatives.

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Asia/Pacific

Heinz Asia/Pacific sales were $476 million for the quarter ended September 28, 2014 compared with $532 million for the quarter ended September 22, 2013, a decrease of $57 million, or 10.6%. Volume decreased 9.9% largely a result of softness in Indonesian cordials sales following the festive period and the transition to a new distributor network, and chilled beverage product rationalization and reduced promotional activity in the tuna and seafood category in Australia. Pricing increased 1.5%, due to reduced promotional spend in Australia and increased pricing in China. Unfavorable foreign exchange translation rates, primarily in Indonesia, Australia and Japan, partially offset by favorable foreign exchange rates in New Zealand, decreased sales by 2.2%.

Gross profit was $149 million for the quarter ended September 28, 2014 compared with $102 million for the quarter ended September 22, 2013, an increase of $47 million, or 45.8%, and the gross profit margin increased to 31.4% from 19.2%. These increases are primarily related to lower cost of products sold as a result of various restructuring and productivity initiatives and the purchase accounting step up in inventory value of $67 million recorded in the quarter ended September 22, 2013. Adjusted EBITDA was $78 million for the quarter ended September 28, 2014 compared with $68 million for the quarter ended September 22, 2013, an increase of $10 million, or 15.0%, due to the increase in gross profit and lower SG&A primarily related to productivity initiatives.

Latin America

Sales for the Latin America segment were $266 million for the quarter ended September 28, 2014 compared with $212 million for the quarter ended September 22, 2013, an increase of $54 million, or 25.6%. Volume decreased 2.8% primarily in Venezuela, driven by raw material and packaging supply constraints, which were partially offset by increased volume from strong Heinz brand market share growth in Brazil. Pricing increased sales 29.6% primarily in Venezuela. Unfavorable foreign exchange rates primarily in Brazil decreased sales by 1.1%.

Gross profit was $111 million for the quarter ended September 28, 2014 compared with $60 million for the quarter ended September 22, 2013, an increase of $51 million, or 84.9%, while gross profit margin increased to 41.9% from 28.5%. These increases are primarily related to lower cost of products sold as a result of various restructuring and productivity initiatives and the purchase accounting step up in inventory value of $6 million recorded in the quarter ended September 22, 2013. Adjusted EBITDA was $70 million for the quarter ended September 28, 2014 compared with $30 million for the quarter ended September 22, 2013, an increase of $40 million, or 132.0%, due to the increase in gross profit and lower SG&A primarily related to productivity initiatives.

RIMEA

Sales for RIMEA were $174 million for the quarter ended September 28, 2014 compared with $160 million for the quarter ended September 22, 2013, an increase of $14 million, or 9.0%, period over period. Volume increased 10.5% as growth was realized across the segment. Pricing increased sales by 3.5%, largely due to price increases in Russia and India. Unfavorable foreign exchange rates decreased sales 5.1%.

Gross profit was $66 million for the quarter ended September 28, 2014 compared with $57 million for the quarter ended September 22, 2013, an increase of $9 million, or 16.3%, and gross profit margin increased to 38.0% from 35.6%. The gross profit margin improvement was primarily due to lower cost of products sold as a result of various restructuring and productivity initiatives. Adjusted EBITDA was $29 million for the quarter ended September 28, 2014 compared with $20 million for the quarter ended September 22, 2013, an increase of $10 million, or 49.0%, due to the increase in gross profit and lower SG&A primarily related to productivity initiatives.

NINE MONTHS ENDED SEPTEMBER 28, 2014 (SUCCESSOR), PERIOD FROM FEBRUARY 8 - SEPTEMBER 22, 2013 (SUCCESSOR), AND PERIOD FROM DECEMBER 24, 2012 - JUNE 7, 2013 (PREDECESSOR)

Results of Continuing Operations

Sales were $8.12 billion for the nine months ended September 28, 2014, compared with $3.15 billion for the Successor period from February 8 to September 22, 2013, and $5.20 billion for the Predecessor period from December 24, 2012 to June 7, 2013, a decrease of $231 million, or 2.8%, period over period. Volume decreased 3.3% primarily due to frozen meals and snacks category softness and share losses in our frozen potatoes, meals and snacks businesses in U.S. Consumer Products, soft soup and frozen meals categories in the U.K., chilled beverage product rationalization and reduced promotional activity in the tuna and seafood category in Australia, softness in Indonesian cordials sales following the transition to a new distributor network, and raw material and packaging supply constraints in Venezuela. Net pricing increased sales by 1.9%, driven by price increases in Venezuela,

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Indonesia, China and India, and reduced trade promotions in US Foodservice, partially offset by increased promotional activity in US Consumer Products, the U.K. and Italy. Unfavorable foreign exchange rates decreased sales by 1.2%. Sales decreased 0.2% due to divestitures.

Gross profit was $2.75 billion for the nine months ended September 28, 2014, compared with $713 million for the Successor period from February 8 to September 22, 2013, and $1.89 billion for the Predecessor period from December 24, 2012 to June 7, 2013, an increase of $155 million, or 5.9%, period over period, while gross profit margin increased to 33.9% from 31.1%. The first nine months of 2014 included a non-cash impairment charge of $62 million on its indefinite lived trademarks, primarily in its North American frozen meals and snacks business due to continued category softness driving lower than anticipated sales. This impairment was recorded in the non-operating segment. The first nine months of 2014 included charges in cost of products sold for restructuring and productivity initiatives of $293 million (which are recorded in the non-operating segment) and incremental amortization of $36 million following the step-up in basis of definite-lived tangible and intangible assets due to purchase accounting adjustments. In addition, it included incremental costs totaling $45 million, primarily for additional logistics costs incurred related to the U.S. SAP go-live, along with equipment relocation charges and consulting and advisory charges not specifically related to restructuring activities (which are recorded in the non-operating segment). The Successor period February 8 to September 22, 2013, incurred higher cost of products sold associated with the purchase accounting step up in inventory value of $383 million. It also included $23 million primarily in severance and employee benefit costs relating to the reduction of corporate and field positions across the Company. Gross profit in the current year was positively impacted by reduced costs of product sold as a result of restructuring and productivity initiatives.

SG&A were $1.54 billion for the nine months ended September 28, 2014, compared with $681 million for the Successor period from February 8 to September 22, 2013, and $1.13 billion for the Predecessor period from December 24, 2012 to June 7, 2013, a decrease of $267 million, or 14.8%, period over period, and decreased as a percentage of sales to 18.9% from 21.6% period over period. The first nine months of 2014 included charges for restructuring and productivity initiatives of $45 million (which are recorded in the non-operating segment). In addition, it included incremental costs totaling $68 million, primarily for additional warehousing and other logistics costs incurred related to the U.S. SAP go-live and employee benefit costs not associated with our restructuring activities (which are recorded in the non-operating segment). The Successor period February 8 to September 22, 2013 included $47 million primarily in severance and employee benefit costs relating to the reduction of corporate and field positions across the Company. The remaining decrease in SG&A is attributable to lower fixed selling and distribution and general and administrative expense primarily resulting from restructuring and productivity related initiatives and lower marketing expense.

Merger related costs in the Successor period from February 8 to September 22, 2013 were $154 million consisting primarily of advisory fees, legal, accounting and other professional costs. In the Predecessor period, Merger related costs of $157 million include $48 million resulting from the acceleration of stock options, restricted stock units and other compensation plans pursuant to the existing change in control provisions of those plans, and $109 million of professional fees.

Net interest expense was $482 million for the nine months ended September 28, 2014, compared with $220 million for the Successor period from February 8 to September 22, 2013, and $120 million for the Predecessor period from December 24, 2012 to June 7, 2013, an increase of $142 million, reflecting higher average debt balances resulting from the Merger.

Prior to the Merger, Merger Subsidiary entered into interest rate swap agreements to mitigate exposure to variable rate debt that was raised to finance the acquisition. These agreements were not designated as hedging instruments prior to the Merger date, and as such, we recorded a gain of $118 million in the Successor period from February 8 to September 22, 2013 due to changes in fair value of these instruments, and separately reflected the gain in the accompanying condensed consolidated statement of operations. As a result of the Merger and the transactions entered into in connection therewith, we have assumed the liabilities and obligations of Merger Subsidiary. Upon consummation of the acquisition, these interest rate swaps with an aggregate notional amount of $9.0 billion met the criteria for hedge accounting and were designated as hedges of future interest payments.

Other expense, net, was $101 million for the nine months ended September 28, 2014, compared with $9 million for the Successor period from February 8 to September 22, 2013, and $183 million for the Predecessor period from December 24, 2012 to June 7, 2013, a decrease of $90 million. The decrease is primarily related to the costs for early extinguishment of debt ($129 million) related to the Merger and a $43 million charge in relation to the currency devaluation in Venezuela in the Predecessor period, partially offset by $85 million of currency losses in the nine months ended September 28, 2014, including $23 million realized in Venezuela (see Note 17), and a $15 million increase in net payments made on the cross currency swaps (see Note 16).

Tax expense was $125 million or 19.8% of pretax income for the nine months ended September 28, 2014, compared with a tax benefit of $187 million or 80.4% of pretax loss for the Successor period from February 8 to September 22, 2013, and tax expense of $160 million or 53.1% of pretax income for the Predecessor period from December 24, 2012 to June 7, 2013. The Predecessor period effective tax rate is higher than the current and Successor periods effective tax rates primarily due to significant repatriation

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costs incurred as a result of distributions of foreign earnings during the Predecessor period. The prior year Successor period included a $107 million benefit related to the impact on deferred taxes of a 300 basis point statutory tax rate reduction in the United Kingdom which was enacted during July 2013. Both the Predecessor and prior year Successor periods included nondeductible transaction costs which increased the effective tax rate in comparison with the current period. The Company's effective tax rate in 2014 is lower than the federal statutory rate of 35% primarily due to lower tax rates on earnings in certain foreign jurisdictions and the effects of tax free interest.

The net income from continuing operations attributable to H. J. Heinz Corporation II was $494 million for the nine months ended September 28, 2014, compared with a net loss from continuing operations of $48 million for the Successor period from February 8 to September 22, 2013, and net income from continuing operations of $135 million for the Predecessor period from December 24, 2012 to June 7, 2013, an increase of $407 million.

Adjusted EBITDA was $2.03 billion for the nine months ended September 28, 2014, compared with $581 million for the Successor period from February 8 to September 22, 2013, and $946 million for the Predecessor period from December 24, 2012 to June 7, 2013, an increase of $500 million, or 32.7%, primarily reflecting the reduction in cost of products sold and SG&A due to efficiencies driven by restructuring and productivity initiatives.

OPERATING RESULTS BY BUSINESS SEGMENT

In the first quarter of 2014, the Company transitioned to new segments, which are aligned to the new organizational structure implemented during the transition period. These new segments reflect how senior management run the business from an organizational perspective and look at the internal management reporting used for decision-making. The Company has reclassified the segment data for the prior period to conform to the current period’s presentation.

North America

Sales for the North America segment were $3.12 billion for the nine months ended September 28, 2014, compared with $1.22 billion for the Successor period from February 8 to September 22, 2013, and $2.09 billion for the Predecessor period from December 24, 2012 to June 7, 2013, a decrease of $196 million, or 5.9%, period over period. Volume was down 5.1% primarily due to frozen meals and snacks category softness and share losses in our frozen potatoes, meals and snacks businesses in U.S. Consumer Products. Higher net price of 0.2% reflects reduced trade promotions in U.S. Foodservice and Canada, offset by an increase in such activities in U.S. Consumer Products. Unfavorable Canadian exchange rates decreased sales 1.0%.

Gross profit was $1.25 billion for the nine months ended September 28, 2014, compared with $274 million for the Successor period from February 8 to September 22, 2013, and $800 million for the Predecessor period from December 24, 2012 to June 7, 2013, an increase of $180 million, or 16.7%, period over period, and gross profit margin increased to 40.1% from 32.4%. These increases are primarily related to lower cost of products sold as a result of various restructuring and productivity initiatives and the purchase accounting step up in inventory value of $174 million recorded in the Successor period February 8 to September 22, 2013, partially offset by lower volumes noted above and higher cost of products sold associated with the amortization of the purchase accounting adjustments relative to customer related assets. Adjusted EBITDA was $937 million for the nine months ended September 28, 2014, compared with $295 million for the Successor period from February 8 to September 22, 2013, and $517 million for the Predecessor period from December 24, 2012 to June 7, 2013, an increase of $125 million, or 15.5%, reflecting increase in gross profit noted above and lower SG&A primarily related to reduced costs related to workforce reductions and lower marketing spend.

Europe

Sales for Heinz Europe were $2.22 billion for the nine months ended September 28, 2014, compared with $815 million for the Successor period from February 8 to September 22, 2013, and $1.37 billion for the Predecessor period from December 24, 2012 to June 7, 2013, an increase of $44 million, or 2.0%, period over period. Volume was down 2.0% due primarily to soft soup and frozen meals category sales in the U.K., infant food in Italy, and, to a lesser extent, increased competition in the Benelux countries and Eastern Europe, partially offset by strong market performance in Sweden. Net pricing decreased 0.4% due to increased trade spend in the U.K. and Italy to counteract category softness partially offset by higher pricing in the Benelux countries and Eastern Europe. Favorable exchange rates increased sales 5.1%. The divestiture of a small soup business in Germany decreased sales 0.7%.

Gross profit was $946 million for the nine months ended September 28, 2014, compared with $200 million for the Successor period from February 8 to September 22, 2013, and $519 million for the Predecessor period from December 24, 2012 to June 7,

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2013, an increase of $228 million, or 31.7%, period over period, while the gross profit margin increased to 42.5% from 32.9%. These increases are primarily related to lower cost of products sold as a result of various restructuring and productivity initiatives and the purchase accounting step up in inventory value of $106 million recorded in the Successor period February 8 to September 22, 2013, partially offset by higher cost of products sold associated with the amortization of the purchase accounting adjustments relative to customer related assets and lower volume. Adjusted EBITDA was $657 million for the nine months ended September 28, 2014, compared with $170 million for the Successor period from February 8 to September 22, 2013, and $292 million for the Predecessor period from December 24, 2012 to June 7, 2013, an increase of $195 million, or 42.2%, reflecting the increase in gross profit and lower SG&A primarily related to productivity initiatives.

Asia/Pacific

Heinz Asia/Pacific sales were $1.55 billion for the nine months ended September 28, 2014, compared with $653 million for the Successor period from February 8 to September 22, 2013, and $1.02 billion for the Predecessor period from December 24, 2012 to June 7, 2013, a decrease of $125 million, or 7.5%, period over period. Volume decreased 3.3% primarily as a result of chilled beverage product rationalization and reduced promotional activity in the tuna and seafood category in Australia, and softness in Indonesian cordials sales following the transition to a new distributor network. Pricing increased 1.9%, due to increased pricing in Indonesia and China, partially offset by increased promotional activity in New Zealand. Unfavorable foreign exchange rates primarily in Australia and Indonesia, decreased sales by 6.1%.

Gross profit was $488 million for the nine months ended September 28, 2014, compared with $118 million for the Successor period from February 8 to September 22, 2013, and $328 million for the Predecessor period from December 24, 2012 to June 7, 2013, an increase of $41 million, or 9.2%, period over period, while the gross profit margin increased to 31.5% from 26.6%. These increases are primarily related to lower cost of products sold as a result of the various restructuring and productivity initiatives undertaken in the prior year and the purchase accounting step up in inventory value of $90 million recorded in the Successor period February 8 to September 22, 2013, partially offset by higher cost of products sold associated with the amortization of the purchase accounting adjustments relative to customer related assets. Adjusted EBITDA was $258 million for the nine months ended September 28, 2014, compared with $84 million for the Successor period from February 8 to September 22, 2013, and $137 million for the Predecessor period from December 24, 2012 to June 7, 2013, an increase of $36 million, or 16.4%, due to the increase in gross profit and lower SG&A primarily related to restructuring and productivity initiatives.

Latin America

Sales for the Latin America segment were $665 million for the nine months ended September 28, 2014, compared with $251 million for the Successor period from February 8 to September 22, 2013, and $390 million for the Predecessor period from December 24, 2012 to June 7, 2013, an increase of $24 million, or 3.8%, period over period. Volume decreased 8.4% as product shortages in Venezuela, driven by raw material and packaging supply constraints, were partially offset by increased ketchup volume and market expansion in Mexico. Pricing increased sales 16.7% primarily in Venezuela. Unfavorable foreign exchange rates primarily in Brazil decreased sales by 4.5%.

Gross profit was $247 million for the nine months ended September 28, 2014, compared with $71 million for the Successor period from February 8 to September 22, 2013, and $122 million for the Predecessor period from December 24, 2012 to June 7, 2013, an increase of $54 million, or 27.7%, period over period, and gross profit margin increased to 37.2% from 30.2%. These increases are primarily related to lower cost of products sold as a result of the various restructuring and productivity initiatives undertaken in the prior year and the purchase accounting step up in inventory value of $8 million recorded in the Successor period February 8 to September 22, 2013, partially offset by higher cost of products sold associated with the amortization of the purchase accounting adjustments relative to customer related assets. Adjusted EBITDA was $132 million for the nine months ended September 28, 2014, compared with $35 million for the Successor period from February 8 to September 22, 2013, and $38 million for the Predecessor period from December 24, 2012 to June 7, 2013, an increase of $59 million, or 80.7%, reflecting the increase in gross profit and lower SG&A resulting from restructuring and productivity initiatives, primarily in Venezuela.

RIMEA

Sales for RIMEA were $565 million for the nine months ended September 28, 2014, compared with $208 million for the Successor period from February 8 to September 22, 2013, and $335 million for the Predecessor period from December 24, 2012 to June 7, 2013, an increase of $22 million, or 4.0%, period over period. Volume increased 8.2% led by growth in Russia and our Africa, Middle East and Turkey region. Pricing increased sales by 4.4%, largely due to increasing commodity prices in India and price increases on ketchup in the Middle East. Unfavorable foreign exchange rates decreased sales 8.6%.

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Gross profit was $215 million for the nine months ended September 28, 2014, compared with $67 million for the Successor period from February 8 to September 22, 2013, and $123 million for the Predecessor period from December 24, 2012 to June 7, 2013, an increase of $25 million, or 13.0%, period over period, and gross profit margin increased to 38.2% from 35.1%. These increases are primarily related to lower cost of products sold as a result of the various restructuring and productivity initiatives undertaken in the prior year and the purchase accounting step up in inventory value of $5 million recorded in the Successor period February 8 to September 22, 2013, partially offset by higher cost of products sold associated with the amortization of the purchase accounting adjustments relative to customer related assets. Adjusted EBITDA was $103 million for the nine months ended September 28, 2014, compared with $27 million for the Successor period from February 8 to September 22, 2013, and $48 million for the Predecessor period from December 24, 2012 to June 7, 2013, an increase of $27 million, or 36.3%, primarily reflecting lower SG&A costs in Russia and India.

Liquidity and Financial Position

In connection with the Merger, the cash consideration was funded from equity contributions from the Sponsors and cash of the Company, as well as proceeds received by Merger Subsidiary in connection with the following debt financing pursuant to the Senior Credit Facilities and the Exchange Notes:

• $9.5 billion in senior secured term loans, with tranches of 6 and 7 year maturities and fluctuating interest rates based on, at the Company's election, base rate or LIBOR plus a spread on each of the tranches, with respective spreads ranging from 125-150 basis points for base rate loans with a 2% base rate floor and 225-250 basis points for LIBOR loans with a 1% LIBOR floor. Prior to the Merger, Merger Subsidiary entered into interest rate swaps to mitigate exposure to the variable interest rates on these term loans and as a result, the rate on future interest payments beginning in January 2015 and extending through July 2020 have been fixed at an average fixed rate of 2.1%,

• $2.0 billion senior secured revolving credit facility with a 5 year maturity and a fluctuating interest rate based on, at the Company's election, base rate or LIBOR, with respective spreads ranging from 50-100 basis points for base rate loans and 150-200 basis points for LIBOR loans, on which nothing is currently, or has been, drawn, and

• $3.1 billion of 4.25% Exchange Notes.

Cash provided by operating activities was $1.3 billion for the nine months ended September 28, 2014, compared to cash used for operating activities of $192 million for the Successor period February 8 to June 23, 2013 and cash provided by operating activities of $668 million for the Predecessor period December 24, 2012 to June 7, 2013. The increase primarily reflects operating losses in the transition period resulting from merger and restructuring related costs and charges incurred on the early extinguishment of debt as well as a reduction in cash taxes paid during 2014. In addition favorable movements in accounts receivable and accounts payable along with reduced pension contributions were partially offset by unfavorable movements in inventory and accrued liabilities. Cash used in the current year in relation to productivity and restructuring initiatives totaled $180 million.

Cash used for investing activities totaled $209 million for the nine months ended September 28, 2014, compared to $21.6 billion for the Successor period February 8 - September 22, 2013, which included the merger consideration, net of cash on hand, of $21.5 billion, and $258 million for the Predecessor period December 24, 2012 - June 7, 2013. Other than the merger consideration, the decline is due to reduced capital expenditures and increased proceeds from disposals of property, plant and equipment.

Cash used for financing activities totaled $611 million for the nine months ended September 28, 2014, compared to cash provided by financing activities of $24.3 billion for the Successor period February 8 - September 22, 2013 and cash used for financing activities of $481 million in the Predecessor period December 24, 2012 - June 7, 2013. The merger was funded by equity contributions from the Sponsors totaling $16.5 billion as well as proceeds of approximately $11.5 billion under Senior Credit Facilities (of which $9.5 billion was drawn at the close of the transaction), and $3.1 billion upon the issuance of the Exchange Notes. The Company used such proceeds, which was partially offset by $321 million of debt issuance costs, to repay $4.2 billion of the Predecessor's outstanding short and long term debt and associated hedge contracts, as well as decreases in net proceeds on commercial paper and short term debt in the prior year.

Berkshire Hathaway has an $8.0 billion preferred stock investment in Parent which requires a 9.0% annual dividend to be paid quarterly in cash or in-kind.  The Company made distributions totaling $540 million in cash to Hawk Acquisition Intermediate Corporation I (the immediate parent of Holdings) during the nine months ended September 28, 2014, and expects to continue to make quarterly cash distributions to fund this dividend.

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The effect of exchange rate changes on cash and cash equivalents was unfavorable by $117 million during the nine months ended September 28, 2014 due to adverse exchange rate movements primarily in the pound sterling and euro, both in relation to the USD.

At September 28, 2014, the Company had total debt of $14.6 billion and cash and cash equivalents of $2.9 billion. The Senior Credit Facilities contain certain customary representations and warranties, affirmative covenants and events of default. As of September 28, 2014, the Company is in compliance with these credit facility covenants.

Prior to the Merger, our intent was to reinvest the accumulated earnings of our foreign subsidiaries in our international operations, except where remittance could be made tax free in certain situations, and our plans did not demonstrate a need to repatriate them to fund our U.S. cash requirements. Accordingly, a liability for the related deferred income taxes was not reflected in the Company's financial statements. While we continue to expect to reinvest a substantial portion of the future earnings of our foreign subsidiaries in our international operations, as of the Merger date we determined that a portion of our accumulated unremitted foreign earnings were likely to be needed to meet U.S. cash needs. For the portion of unremitted foreign earnings determined not to be permanently reinvested as of September 28, 2014, a deferred tax liability of approximately $131 million is currently recorded. The Company currently anticipates repatriating a substantial portion of the accumulated unremitted earnings which are no longer permanently reinvested during 2014 resulting in the utilization of the majority of its foreign tax credit carryforwards. The Company’s 2013 and 2014 repatriation plans have provided access to international cash which is expected to meet the U.S. cash requirements for the foreseeable future.

The Company will continue to monitor the credit markets to determine the appropriate mix of long-term debt and short-term debt going forward. The Company believes that its operating cash flow, existing cash balances, together with the credit facilities and other available capital market financing, will be adequate to meet the Company's cash requirements for operations, including capital spending, debt maturities and interest payments. While the Company is confident that its needs can be financed, there can be no assurance that increased volatility and disruption in the global capital and credit markets will not impair its ability to access these markets on commercially acceptable terms.

Venezuela- Foreign Currency and Inflation

We apply highly inflationary accounting to our business in Venezuela. Under highly inflationary accounting, the financial statements of our Venezuelan subsidiary are remeasured into our reporting currency (U.S. dollars), based on the exchange rate at which we expect to remit dividends in U.S. dollars, (which we currently determine to be the official exchange rate of 6.30 BsF/US$). Exchange gains and losses from the remeasurement of monetary assets and liabilities are reflected in current earnings, rather than accumulated other comprehensive loss on the balance sheet, until such time as the economy is no longer considered highly inflationary. The impact of applying highly inflationary accounting for Venezuela on our consolidated financial statements is therefore dependent upon movements in the official exchange rate between the Venezuelan bolivar fuerte and the U.S. dollar.

On February 8, 2013, the Venezuelan government announced the devaluation of its currency relative to the U.S. dollar, changing the official exchange rate from 4.30 to 6.30. As a result, the Company recorded a $43 million pre-tax currency translation loss, which was reflected within other expense, net, on the condensed consolidated statement of operations in the first quarter of 2013.

In March 2013, the Venezuelan government announced the creation of a new foreign exchange mechanism called the Complimentary System of Foreign Currency Acquirement (or SICAD, which stands for Sistema Complimentario de Administración de Divisas). It operates similar to an auction system and allows entities in specific sectors to bid for U.S. dollar to be used for specified import transactions. In January 2014, the government in Venezuela announced certain changes to the regulations governing the currency exchange market. The current official exchange rate remains applicable to import activities related to certain necessities, including food products.

In February 2014, the Venezuelan government established a new foreign exchange market mechanism (SICAD II), which became effective on March 24, 2014 and may be the market through which U.S. dollars will be obtained for the remittance of dividends. This market has significantly higher foreign exchange rates than those available through the other foreign exchange mechanisms. Between March 24, 2014 and September 28, 2014 the published weighted average daily exchange rate was between 49.02 bolivars per USD and 51.86 bolivars per USD. The Company has had limited access to the SICAD II market mechanism and has converted 164 million bolivars into $3 million USD, recognizing a transactional currency loss of $2 million and $23 million for the three and nine months ended September 28, 2014, respectively, which has been recorded in other expense, net, in the condensed consolidated statements of operations.

The Company has also had access to, and had settlements at, the current official rate in this period and has outstanding requests for settlement at the official rate. Management continues to believe the official rate is legally available and appropriate for the

59

Company's operations in Venezuela.  While there is considerable uncertainty with respect to the actual rates to be realized in the circumstances, as of September 28, 2014 we continue to believe it is appropriate to remeasure our Venezuelan monetary assets and liabilities at the official rate of 6.30 bolivars per U.S. dollar. The amount of net monetary assets and liabilities included in our Venezuelan subsidiary’s balance sheet was $144 million at September 28, 2014.

Contractual Obligations

The Company is obligated to make future payments under various contracts such as debt agreements, lease agreements and unconditional purchase obligations. In addition, the Company has purchase obligations for materials, supplies, services, and property, plant and equipment as part of the ordinary conduct of business. A few of these obligations are long-term and are based on minimum purchase requirements. Certain purchase obligations contain variable pricing components, and, as a result, actual cash payments are expected to fluctuate based on changes in these variable components. Due to the proprietary nature of some of the Company's materials and processes, certain supply contracts contain penalty provisions for early terminations. The Company does not believe that a material amount of penalties are reasonably likely to be incurred under these contracts based upon historical experience and current expectations. There have been no material changes to contractual obligations during the nine months ended September 28, 2014. For additional information, refer to Company's Registration Statement on Form S-4 which became effective May 7, 2014.

As of the end of the third quarter of 2014, the total potential cash payments for gross unrecognized tax benefits for uncertain tax positions, including an accrual of related interest and penalties along with positions only impacting the timing of tax benefits, was approximately $80 million. The timing of payments will depend on the progress of examinations with tax authorities. The Company does not expect a significant tax payment related to these obligations within the next year. The Company is unable to make a reasonably reliable estimate as to when cash settlements with taxing authorities may occur.

Recently Issued Accounting Standards

See Note 4 to the Condensed Consolidated Financial Statements in Part I Item 1 of this Form 10-Q.

Non-GAAP Measures

Included in this report are measures of financial performance that are not defined by generally accepted accounting principles in the United States (“GAAP”). Each of the measures is used in reporting to the Company's executive management and as a component of the Board of Directors' measurement of the Company's performance for incentive compensation purposes. Management and the Board of Directors believe that these measures provide useful information to investors, and include these measures in other communications to investors.

For each of these non-GAAP financial measures, a reconciliation of the differences between the non-GAAP measure and the most directly comparable GAAP measure has been provided. In addition, an explanation of why management believes the non-GAAP measure provides useful information to investors and any additional purposes for which management uses the non-GAAP measure are provided below. These non-GAAP measures should be viewed in addition to, and not in lieu of, the comparable GAAP measure.

EBITDA & Adjusted EBITDA (from Continuing Operations)

EBITDA is defined as earnings from continuing operations (net income or loss) before interest, taxes, depreciation and amortization, and is used by management to measure operating performance of the business. Adjusted EBITDA is a tool intended to assist our management in comparing our performance on a consistent basis for purposes of business decision-making by removing the impact of certain items that management believes do not directly reflect our core operations. These items include share-based compensation and non-cash compensation expense, other operating (income) expenses, net, and all other specifically identified costs associated with projects, transaction costs, restructuring and related professional fees.    EBITDA and Adjusted EBITDA are intended to provide additional information only and do not have any standard meaning prescribed by generally accepted accounting principles in the U.S. or U.S. GAAP. EBITDA and Adjusted EBITDA are not measurements of our financial performance under GAAP and should not be considered as alternatives to net income or other performance measures derived in accordance with GAAP, or as alternatives to cash flow from operating activities as measures of our liquidity. The Company's definition of EBITDA may not be comparable to similarly titled measures used by other companies.

We believe that EBITDA and Adjusted EBITDA are useful to investors, analysts and other external users of our condensed consolidated financial statements because they are widely used by investors to measure operating performance without regard to

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items such as income taxes, net interest expense, depreciation and amortization, non-cash stock compensation expense and other one-time items, which can vary substantially from company to company depending upon accounting methods and book value of assets, financing methods, capital structure and the method by which assets were acquired.

Because of their limitations, neither EBITDA nor Adjusted EBITDA should be considered as a measure of discretionary cash available to us to reinvest in the growth of our business or as a measure of cash that will be available to us to meet our obligations. Additionally, our presentation of Adjusted EBITDA is different than Adjusted EBITDA as defined in our debt agreements.

	Successor
	June 30 - September 28, 2014		June 24 - September 22, 2013
	(13 weeks)		(13 weeks)
Income/(loss) from continuing operations, net of tax	$	173,981	$	(4,495	)
Interest expense, net	157,469		160,911
Provision for/(benefit from) income taxes	40,227		(175,729		)
Depreciation, including accelerated depreciation for restructuring	70,571		72,272
Amortization	24,681		20,771
EBITDA	$	466,929	$	73,730
Amortization of inventory step-up	—		259,195
Merger related costs	—		97,798
Severance related costs	29,059		64,915
Asset write-offs	38,429		—
Other exit and implementation restructuring costs	10,617		2,444
Other special items	59,987		(10,937		)
Other expense, net (excluding amortization)	37,450		9,819
Stock based compensation	3,978		—
Adjusted EBITDA	$	646,449	$	496,964

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	Successor					Predecessor
	December 30, 2013 - September 28, 2014		February 8 - September 22, 2013			December 24, 2012 - June 7, 2013
	(39 weeks)		(15 weeks)			(24 weeks)
	(Unaudited)
	(In thousands)
Income/(loss) from continuing operations, net of tax	$	506,986	$	(45,632	)	$	141,350
Interest expense, net	481,936		219,970			120,200
Provision for/(benefit from) income taxes	124,851		(186,856		)	160,166
Depreciation, including accelerated depreciation for restructuring	354,298		85,110			143,516
Amortization	74,324		22,256			21,044
EBITDA	$	1,542,395	$	94,848		$	586,276
Amortization of inventory step-up	—		383,300			—
Merger related costs	—		153,791			157,002
Severance related costs	112,756		67,500			1,866
Asset write-offs	48,718		—			—
Other exit and implementation restructuring costs	48,985		2,444			3,659
Loss from extinguishment of debt	—		—			129,367
Unrealized gain on derivative instruments	—		(117,934		)	—
Other special items	106,029		(11,445		)	(11,908		)
Foodstar earn-out	—		—			12,081
Other expense, net (excluding amortization)	101,241		8,928			49,446
Stock based compensation	6,162		—			18,520
Impairment loss on indefinite-lived trademarks	61,774		—			—
Adjusted EBITDA	$	2,028,060	$	581,432		$	946,309

Adjusted EBITDA in the three and nine months ended September 28, 2014, increased $149 million or 30.1%, to $646 million, and $500 million or 32.7% to $2.0 billion, respectively, primarily reflecting the reduction in cost of products sold and SG&A due to efficiencies driven by prior year productivity initiatives.

Discussion of Significant Accounting Estimates

In the ordinary course of business, the Company has made a number of estimates and assumptions relating to the reporting of results of operations and financial condition in the preparation of its financial statements in conformity with GAAP. Actual results could differ significantly from those estimates under different assumptions and conditions. The Company addresses in its Annual Report for the transition period ended December 29, 2013 included in the Registration Statement on Form S-4, which became effective May 7, 2014, its most critical accounting policies, which are those that are most important to the portrayal of the Company’s financial condition and results and require management’s most difficult, subjective and complex judgments, often as a result of the need to make estimates about the effect of matters that are inherently uncertain. No changes to such policies as discussed in the Registration Statement have occurred as of September 28, 2014.

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CAUTIONARY STATEMENT RELEVANT TO FORWARD-LOOKING INFORMATION

Statements about future growth, profitability, costs, expectations, plans, or objectives included in this report, including in management's discussion and analysis, and the financial statements and footnotes, are forward-looking statements based on management's estimates, assumptions, and projections. These forward-looking statements are subject to risks, uncertainties, assumptions and other important factors, many of which may be beyond the Company's control and could cause actual results to differ materially from those expressed or implied in this report and the financial statements and footnotes. Uncertainties contained in such statements include, but are not limited to:

• the ability of the Company to retain and hire key personnel and maintain relationships with customers, suppliers and other business partners,

• sales, volume, earnings, or cash flow growth,

• general economic, political, and industry conditions, including those that could impact consumer spending,

• competitive conditions, which affect, among other things, customer preferences and the pricing of products, production, and energy costs,

• competition from lower-priced private label brands,

• increases in the cost and restrictions on the availability of raw materials including agricultural commodities and packaging materials, the ability to increase product prices in response, and the impact on profitability,

• the ability to identify and anticipate and respond through innovation to consumer trends,

• the need for product recalls,

• the ability to maintain favorable supplier and customer relationships, and the financial viability of those suppliers and customers,

• currency valuations and devaluations and interest rate fluctuations,

• our substantial level of indebtedness and related debt-service obligations,

• changes in credit ratings, leverage, and economic conditions, and the impact of these factors on our cost of borrowing and access to capital markets,

• our ability to effectuate our strategy, including our continued evaluation of potential opportunities, such as strategic acquisitions, joint ventures, divestitures and other initiatives, our ability to identify, finance and complete these transactions and other initiatives, and our ability to realize anticipated benefits from them,

• the ability to successfully complete cost reduction programs and increase productivity including our restructuring and productivity initiatives,

• the ability to effectively integrate acquired businesses,

• new products, packaging innovations, and product mix,

• the effectiveness of advertising, marketing, and promotional programs,

• supply chain efficiency,

• cash flow initiatives,

• risks inherent in litigation, including tax litigation,

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• the ability to further penetrate and grow and the risk of doing business in international markets, particularly our emerging markets, economic or political instability in those markets, strikes, nationalization, and the performance of business in hyperinflationary environments, in each case, such as Venezuela; and the uncertain global macroeconomic environment and sovereign debt issues, particularly in Europe,

• political or social unrest, economic instability, as well as tensions, conflict or war in a specific country or region, such as the recent events in the Ukraine, the increasingly hostile relations between Russia and the Ukraine and the sanctions imposed against Russia by the U.S. and Europe, and by Russia against the U.S. and European countries, which could have an adverse impact on our business,

• changes in estimates in critical accounting judgments and changes in laws and regulations, including tax laws,

• not meeting expectations of future growth rates or significant changes in specific valuation factors outside of our control, such as discount rates, leading to the possibility of one or more trademarks becoming impaired in the future,

• the success of tax planning strategies,

• the possibility of increased pension expense and contributions and other people-related costs,

• the potential adverse impact of natural disasters, such as flooding and crop failures, and the potential impact of climate change,

• the ability to implement new information systems, potential disruptions due to failures in information technology systems, and risks associated with social media, and

• other factors described in “Risk Factors” and "Cautionary Statement Relevant to Forward-Looking Information" in the Company's Annual Report for the transition period ended December 29, 2013 included in the Registration Statement on Form S-4, which became effective May 7, 2014.

The forward-looking statements are and will be based on management's then current views and assumptions regarding future events and speak only as of their dates. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by the securities laws.

Item 3. Quantitative and Qualitative Disclosures About Market Risk

There have been no material changes in the Company’s market risk during the nine months ended September 28, 2014. For additional information, refer to the Company's Annual Report on Form 10-KT for the transition period ended December 29, 2013 included in the Registration Statement on Form S-4, which became effective May 7, 2014.

Item 4. Controls and Procedures

(a) Evaluation of Disclosure Controls and Procedures

The Company's management, with the participation of the Company's Chief Executive Officer and Chief Financial Officer, evaluated the effectiveness of the Company's disclosure controls and procedures as of the end of the period covered by this report. Based on that evaluation, the Chief Executive Officer and Chief Financial Officer concluded that the Company's disclosure controls and procedures, as of the end of the period covered by this report, were effective and provided reasonable assurance that the information required to be disclosed by the Company in reports filed under the Securities Exchange Act of 1934 is (i) recorded, processed, summarized, and reported within the time periods specified in the SEC's rules and forms, and (ii) accumulated and communicated to our management, including the Chief Executive Officer and Chief Financial Officer, as appropriate to allow timely decisions regarding required disclosure.

(b) Changes in Internal Control over Financial Reporting

During the nine months ended September 28, 2014, the Company continued its implementation of SAP software across operations in the U.S and Russia. As appropriate, the Company is modifying the design and documentation of internal control processes and procedures relating to the new systems to simplify and harmonize existing internal control over financial reporting. There were no additional changes in the Company's internal control over financial reporting during the Company's most recent fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Company's internal control over financial reporting.   

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PART II—OTHER INFORMATION

Item 5. Other Information

Nothing to report under this item.

Item 6. Exhibits

Exhibits required to be filed by Item 601 of Regulation S-K are listed below. Documents not designated as being incorporated herein by reference are filed herewith. The paragraph numbers correspond to the exhibit numbers designated in Item 601 of Regulation S-K.

3(i)	Amendment of Certificate of Incorporation of Hawk Acquisition Intermediate Corporation II, reflecting change of name to H. J. Heinz Corporation II, effective August 1, 2014, is incorporated herein by reference to the Company’s 10-Q filing dated August 12, 2014.
3(ii)	Bylaws of H. J. Heinz Corporation II effective February 8, 2013 are incorporated herein by reference to Exhibit 3 (iv) of the Company's S-4 Registration Statement effective May 7, 2014.
31(a)	Rule 13a-14(a)/15d-14(a) Certification by the Chief Executive Officer.
31(b)	Rule 13a-14(a)/15d-14(a) Certification by the Chief Financial Officer.
32(a)	18 U.S.C. Section 1350 Certification by the Chief Executive Officer.
32(b)	18 U.S.C. Section 1350 Certification by the Chief Financial Officer.
101.INS	XBRL Instance Document
101.SCH	XBRL Schema Document
101.CAL	XBRL Calculation Linkbase Document
101.LAB	XBRL Labels Linkbase Document
101.LAB	XBRL Presentation Linkbase Document
101.DEF	XBRL Definition Linkbase Document

65

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

		H. J. HEINZ CORPORATION II
		(Registrant)
Date:	November 7, 2014
		By:	/s/  Paulo Basilio
			Paulo Basilio
			Chief Financial Officer
			(Principal Financial Officer)

Date:	November 7, 2014
		By:	/s/  Robert Bonacci
			Robert Bonacci
			Corporate Controller
			(Principal Accounting Officer)

66

EXHIBIT INDEX

DESCRIPTION OF EXHIBIT

Exhibits required to be filed by Item 601 of Regulation S-K are listed below. Documents not designated as being incorporated herein by reference are filed herewith. The paragraph numbers correspond to the exhibit numbers designated in Item 601 of Regulation S-K.

3(i)	Amendment of Certificate of Incorporation of Hawk Acquisition Intermediate Corporation II, reflecting change of name to H. J. Heinz Corporation II, effective August 1, 2014 is incorporated herein by reference to the Company’s 10-Q filing dated August 12, 2014.
3(ii)	Bylaws of H. J. Heinz Corporation II effective February 8, 2013 are incorporated herein by reference to Exhibit 3 (iv) of the Company's S-4 Registration Statement effective May 7, 2014.
31(a)	Rule 13a-14(a)/15d-14(a) Certification by the Chief Executive Officer.
31(b)	Rule 13a-14(a)/15d-14(a) Certification by the Chief Financial Officer.
32(a)	18 U.S.C. Section 1350 Certification by the Chief Executive Officer.
32(b)	18 U.S.C. Section 1350 Certification by the Chief Financial Officer.
101.INS	XBRL Instance Document
101.SCH	XBRL Schema Document
101.CAL	XBRL Calculation Linkbase Document
101.LAB	XBRL Labels Linkbase Document
101.LAB	XBRL Presentation Linkbase Document
101.DEF	XBRL Definition Linkbase Document

EX-31.A

Exhibit 31(a)

I, Bernardo Hees, certify that:

1. I have reviewed this quarterly report on Form 10-Q for the quarter ended September 28, 2014 of H. J. Heinz Corporation II;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

c) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

By:	/s/ Bernardo Hees
	Name:	Bernardo Hees
	Title:	Chief Executive Officer

Date: November 7, 2014

EX-31.B

Exhibit 31(b)

I, Paulo Basilio, certify that:

1. I have reviewed this quarterly report on Form 10-Q for the quarter ended September 28, 2014 of H. J. Heinz Corporation II;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

c) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

By:	/s/  Paulo Basilio
	Name:	Paulo Basilio
	Title:	Chief Financial Officer

Date: November 7, 2014

EX-32.A

Exhibit 32(a)

18 U.S.C. SECTION 1350 CERTIFICATION

I, Bernardo Hees, Chief Executive Officer, of H. J. Heinz Corporation II, a Delaware corporation (the “Company”), hereby certify that, to my knowledge:

1. The Company’s periodic report on Form 10-Q for the period ended September 28, 2014 (the “Form 10-Q”) fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

2. The information contained in the Form 10-Q fairly presents, in all material respects, the financial condition and results of operations of the Company.

/s/ Bernardo Hees
Name:	Bernardo Hees
Title:	Chief Executive Officer

Date: November 7, 2014

EX-32.B

Exhibit 32(b)

18 U.S.C. SECTION 1350 CERTIFICATION

I, Paulo Basilio, Chief Financial Officer of H. J. Heinz Corporation II, a Delaware corporation (the “Company”), hereby certify that, to my knowledge:

1. The Company’s periodic report on Form 10-Q for the period ended September 28, 2014 (the “Form 10-Q”) fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

2. The information contained in the Form 10-Q fairly presents, in all material respects, the financial condition and results of operations of the Company.

/s/  Paulo Basilio
Name:	Paulo Basilio
Title:	Chief Financial Officer

Date: November 7, 2014

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Merger and Acquisition (Estimated Fair Values Acquired Assets and Liabilities Assumed) (Details) (USD $) In Thousands, unless otherwise specified	7 Months Ended			0 Months Ended	4 Months Ended
	Sep. 22, 2013	Sep. 28, 2014	Dec. 29, 2013	Jun. 07, 2013 H.J. Heinz Holding Corporation	Jun. 07, 2013 H.J. Heinz Holding Corporation
Business Acquisition [Line Items]
Cash (including excess cash from Parent)					$ 3,223,588
Other current assets					3,734,558
Property, plant and equipment					2,685,880
Trademark and other intangibles					13,914,059
Other non-current assets					675,998
Trade and other payables					(2,741,809)
Long term debt					(3,021,656)
Deferred income tax liabilities					(4,055,544)
Non-pension postretirement benefits and other noncurrent liabilities					(670,822)
Redeemable non controlling interest and non controlling interest					(258,008)
Net assets acquired					13,486,244
Goodwill on acquisition		15,167,591	15,070,062		15,266,720
Total consideration pushed down from Parent					28,752,964
Debt repayment and associated costs				(3,976,847)
Excess cash from Parent				(1,153,621)
Other transaction related costs				(58,242)
Total consideration paid to Predecessor shareholders				23,564,254	28,750,000
Cash and cash equivalents of Predecessor at June 7, 2013				(2,069,967)
Acquisition of business, net of cash on hand	$ 21,494,287			$ 21,494,287

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Debt (Narrative) (Details) (USD $)	7 Months Ended	9 Months Ended		6 Months Ended													9 Months Ended	3 Months Ended		7 Months Ended	9 Months Ended	6 Months Ended
	Sep. 22, 2013 Successor	Sep. 28, 2014 Successor	Dec. 29, 2013 Successor	Jun. 07, 2013 Predecessor	Sep. 28, 2014 Maximum	Sep. 28, 2014 Other Non-U.S. Dollar Debt due May 2013 — May 2023 (3.50%—11.00%) Successor	Dec. 29, 2013 Other Non-U.S. Dollar Debt due May 2013 — May 2023 (3.50%—11.00%) Successor	Sep. 28, 2014 Other Non-U.S. Dollar Debt due May 2013 — May 2023 (3.50%—11.00%) Maximum Successor	Sep. 28, 2014 $2.95 billion Term B-1 Loan Successor	Dec. 29, 2013 $2.95 billion Term B-1 Loan Successor	Sep. 28, 2014 $6.55 billion Term B-2 Loan Successor	Dec. 29, 2013 $6.55 billion Term B-2 Loan Successor	Sep. 28, 2014 4.25% Second Lien Senior Notes Successor	Dec. 29, 2013 4.25% Second Lien Senior Notes Successor	Sep. 28, 2014 $931 million 7.125% U.S. Dollar Notes due August 2039 Successor	Dec. 29, 2013 $931 million 7.125% U.S. Dollar Notes due August 2039 Successor	Sep. 28, 2014 Senior Credit Facilities	Sep. 28, 2014 Senior Credit Facilities Successor	Sep. 22, 2013 Senior Credit Facilities Successor	Sep. 22, 2013 Senior Credit Facilities Successor	Sep. 28, 2014 Senior Credit Facilities Successor	Jun. 07, 2013 Senior Credit Facilities Predecessor	Sep. 28, 2014 Senior Credit Facilities $2.95 billion Term B-1 Loan Successor	Sep. 28, 2014 Senior Credit Facilities $6.55 billion Term B-2 Loan Successor	Sep. 28, 2014 Revolving Credit Facility	Jun. 07, 2013 Senior Notes 4.25% Senior secured notes	Sep. 28, 2014 Cash	Jun. 07, 2013 Long-term debt
Debt Instrument [Line Items]
Business combination, senior credit facility																											$ 9,500,000,000.0	$ 3,100,000,000
Maximum borrowing capacity																							2,950,000,000	6,550,000,000
Long-term debt		14,638,968,000	14,725,411,000			61,812,000	70,411,000		2,908,932,000	2,929,213,000	6,471,153,000	6,518,524,000	3,100,000,000	3,100,000,000	1,024,070,000	1,026,881,000									2,000,000,000
Collateral, Capital stock of foreign subsidiaries, Percent					65.00%
Leverage ratio threshold																									50,000,000
Stated interest rate								11.00%					4.25%		7.125%											4.25%
Debt issuance costs																	255,100,000
Amortization of deferred debt related costs	$ 14,831,000	$ 33,976,000		$ 18,494,000														$ 12,200,000	$ 12,200,000	$ 14,800,000	$ 36,600,000	$ 18,500,000

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Employees' Stock Incentive Plans and Management Incentive Plans (Details) (USD $) In Millions, except Share data, unless otherwise specified	3 Months Ended		0 Months Ended					3 Months Ended			3 Months Ended		7 Months Ended	9 Months Ended	6 Months Ended
	Sep. 28, 2014	Sep. 28, 2014 2013 Omnibus Plan	May 21, 2014 2013 Omnibus Plan Employee Stock Option	May 01, 2014 2013 Omnibus Plan Employee Stock Option	Feb. 14, 2014 2013 Omnibus Plan Employee Stock Option	Feb. 14, 2014 2013 Omnibus Plan Employee Stock Option	Oct. 16, 2013 2013 Omnibus Plan Employee Stock Option	Sep. 28, 2014 2013 Omnibus Plan Employee Stock Option	May 21, 2014 2013 Omnibus Plan Employee Stock Option	Oct. 31, 2013 2013 Omnibus Plan Employee Stock Option	Sep. 28, 2014 Successor	Sep. 22, 2013 Successor	Sep. 22, 2013 Successor	Sep. 28, 2014 Successor	Jun. 07, 2013 Predecessor	Jun. 07, 2013 Predecessor Selling, General and Administrative Expenses LTPP	Jun. 07, 2013 Capital Stock H.J. Heinz Holding Corporation
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares Authorized										39,600,000
Cash received for each share of common stock																	$ 72.50
Compensation Cost Not yet Recognized		$ 41.5
Performance Period In Years For Dividends Paid	2 years
Stock options							14,300,000
Grants in Period, Gross			4,700,000		3,878,805
Award vesting period						5 years		5 years
Options, Outstanding, Number						3,561,875	11,925,000		4,675,000
Grants in Period, Weighted Average Exercise Price							$ 10.00
Weighted average grant date fair value				$ 2.46	$ 2.43		$ 2.43
Weighted Average Assumptions Used in Calculations [Abstract]
Exercise price (usd per share)						$ 10	$ 10		$ 10
Risk-free interest rate			1.55%		1.41%		1.41%
Expected term			5 years		5 years		5 years
Expected volatility rate			24.30%		24.30%		24.30%
Expected forfeiture rate			5.00%		5.00%		5.00%
Expected dividend rate			0.00%		0.00%		0.00%
Employees Stock Incentive Plans And Management Incentive Plans [Abstract]
Pre-tax compensation cost											2.6	1.9	1.9	6.2	36.4	8.1
Tax benefit											0.9	0.6	0.6	2.1	11.2	2.8
After-tax compensation cost											$ 1.7	$ 1.3	$ 1.3	$ 4.1	$ 25.2	$ 5.3

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Goodwill and Other Intangible Assets (Trademarks and Other Intangible Assets) (Details) (USD $)	3 Months Ended										3 Months Ended		7 Months Ended	9 Months Ended	3 Months Ended		7 Months Ended	9 Months Ended	3 Months Ended	6 Months Ended
	Sep. 28, 2014	Dec. 29, 2013	Sep. 28, 2014 Trademarks	Dec. 29, 2013 Trademarks	Sep. 28, 2014 Licenses	Dec. 29, 2013 Licenses	Sep. 28, 2014 Customer-related assets	Dec. 29, 2013 Customer-related assets	Sep. 28, 2014 Other	Dec. 29, 2013 Other	Sep. 28, 2014 Successor	Sep. 22, 2013 Successor	Sep. 22, 2013 Successor	Sep. 28, 2014 Successor	Sep. 28, 2014 Successor Customer-Related Intangible Assets [Member]	Sep. 22, 2013 Successor Customer-Related Intangible Assets [Member]	Sep. 22, 2013 Successor Customer-Related Intangible Assets [Member]	Sep. 28, 2014 Successor Customer-Related Intangible Assets [Member]	Jun. 07, 2013 Predecessor	Jun. 07, 2013 Predecessor	Jun. 07, 2013 Predecessor Customer-Related Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Impairment loss on indefinite-lived trademarks											$ 0	$ 0	$ 0	$ 61,774,000					$ 0	$ 0
Intangible assets not subject to amortization	12,300,000,000	13,000,000,000	11,800,000,000	12,100,000,000	484,800,000	839,900,000			46,200,000	45,600,000
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Gross	1,486,695,000	1,520,255,000			119,325,000	119,714,000	1,351,001,000	1,375,876,000	16,369,000	24,665,000
Accumulated Amortization	(111,342,000)	(46,921,000)			(24,547,000)	(10,030,000)	(85,301,000)	(35,773,000)	(1,494,000)	(1,118,000)
Net	1,375,353,000	1,473,334,000			94,778,000	109,684,000	1,265,700,000	1,340,103,000	14,875,000	23,547,000
Amortization expense for trademarks and other intangible assets											24,681,000	20,771,000	22,256,000		22,632,000	19,254,000	20,259,000	68,327,000	10,620,000	21,044,000	13,673,000
Finite lived intangible assets, annual future amortization expense	82,400,000
Amortization Expense, Fiscal Year Maturity [Abstract]
2014	82,400,000
2015	82,400,000
2016	82,400,000
2017	82,400,000
2018	$ 82,400,000

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Debt (Tables)

9 Months Ended

Sep. 28, 2014

Debt Disclosure [Abstract]

Schedule of Debt

The Company's long-term debt consists of the following:

	Successor
	September 28, 2014			December 29, 2013
	(Unaudited)
	(In thousands)
$2.95 billion Term B-1 Loan	$	2,908,932		$	2,929,213
$6.55 billion Term B-2 Loan	6,471,153			6,518,524
$3.10 billion 4.25% Second Lien Senior Secured Notes due 2020	3,100,000			3,100,000
Other U.S. Dollar Debt due May 2013 — November 2034 (0.94%—7.96%)	9,891			10,774
Other Non-U.S. Dollar Debt due May 2013 — May 2023 (3.50%—11.00%)	61,812			70,411
2.00% U.S. Dollar Notes due September 2016	58,308			58,308
1.50% U.S. Dollar Notes due March 2017	17,742			17,743
3.125% U.S. Dollar Notes due September 2021	34,433			34,433
2.85% U.S. Dollar Notes due March 2022	5,599			5,599
$235 million 6.375% U.S. Dollar Debentures due July 2028	256,902			258,075
£125 million6.25% British Pound Notes due February 2030	214,845			218,507
$437 million 6.75% U.S. Dollar Notes due March 2032	475,281			476,943
$931 million 7.125% U.S. Dollar Notes due August 2039	1,024,070			1,026,881
	14,638,968			14,725,411
Less portion due within one year	(108,538		)	(107,765		)
Total long-term debt	$	14,530,430		$	14,617,646
Weighted-average interest rate on long-term debt, including the impact of applicable interest rate swaps	4.02		%	4.01		%

Schedule of Amortization of Debt Issuance Costs

The following table summarizes the amortization of debt issuance costs for the periods presented:

	Successor				Successor				Predecessor
	June 30 - September 28, 2014		June 24 - September 22, 2013		December 30, 2013 - September 28, 2014		February 8 - September 22, 2013		December 24, 2012 - June 7, 2013
	(In millions)
Amortization of debt issuance costs	$	12.2	$	12.2	$	36.6	$	14.8	$	18.5

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Derivative Financial Instruments and Hedging Activities (Narrative) (Details)	9 Months Ended		9 Months Ended							9 Months Ended									3 Months Ended	9 Months Ended
	Sep. 28, 2014 USD ($)	Dec. 29, 2013 USD ($)	Sep. 28, 2014 Foreign Exchange Forward	Sep. 28, 2014 Foreign exchange contracts USD ($)	Dec. 29, 2013 Foreign exchange contracts USD ($)	Sep. 28, 2014 Interest rate contracts USD ($)	Dec. 29, 2013 Interest rate contracts USD ($)	Sep. 28, 2014 Cross-currency interest rate swap contracts USD ($)	Dec. 29, 2013 Cross-currency interest rate swap contracts USD ($)	Sep. 28, 2014 Interest Rate Swap	Dec. 29, 2013 United Kingdom, Pounds Cross-currency interest rate swap contracts USD ($)	Dec. 29, 2013 United Kingdom, Pounds Cross-currency interest rate swap contracts GBP (£)	Dec. 29, 2013 Eurodollar Future Cross-currency interest rate swap contracts USD ($)	Dec. 29, 2013 Eurodollar Future Cross-currency interest rate swap contracts EUR (€)	Dec. 29, 2013 Australia, Dollars Cross-currency interest rate swap contracts USD ($)	Dec. 29, 2013 Australia, Dollars Cross-currency interest rate swap contracts AUD	Dec. 29, 2013 Japan, Yen Cross-currency interest rate swap contracts USD ($)	Dec. 29, 2013 Japan, Yen Cross-currency interest rate swap contracts JPY (¥)	Sep. 28, 2014 Other Expense Cross-currency interest rate swap contracts USD ($)	Sep. 28, 2014 Other Expense Cross-currency interest rate swap contracts USD ($)	Sep. 28, 2014 Not Designated as Hedging Instrument Foreign exchange contracts USD ($)	Dec. 29, 2013 Not Designated as Hedging Instrument Foreign exchange contracts USD ($)
Derivative [Line Items]
Derivative, Notional Amount				$ 2,700,000,000	$ 2,500,000,000	$ 9,000,000,000	$ 9,000,000,000	$ 8,300,000,000	$ 8,300,000,000												$ 1,600,000,000	$ 1,000,000,000
Derivative, Collateral, Obligation to Return Cash	125,400,000	237,400,000
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months	(8,400,000)
Derivative, Interest Rate Paid on Swap											6.462%	6.462%	5.696%	5.696%	9.164%	9.164%	4.104%	4.104%
Derivative Asset, Notional Amount											4,500,000,000		3,000,000,000		750,000,000		50,000,000
Derivative Liability, Notional Amount												2,795,000,000		2,210,000,000		793,800,000		4,854,500,000,000
Derivative, Interest Rate Received on Swap											6.15%	6.15%	6.15%	6.15%	6.15%	6.15%	6.15%	6.15%
Unrealized Gain (Loss) related to Outstanding Nondesignated Derivative Instruments	87,000,000	(1,300,000)
Derivative, Gain (Loss) on Derivative, Net																			$ 2,700,000	$ 18,000,000
Period of Hedging Forecasted Transactions	2 years
Derivative, Term			1 year							3 years

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Segments (Tables)

9 Months Ended

Sep. 28, 2014

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The following tables present information about the Company’s reportable segments:

	Successor
	June 30 - September 28, 2014			June 24 - September 22, 2013
	(In thousands)
Net external sales:
North America	$	982,162		$	1,049,205
Europe	695,991			693,632
Asia/Pacific	475,674			532,185
Latin America	265,889			211,709
RIMEA	174,169			159,846
Consolidated Totals	$	2,593,885		$	2,646,577
Segment Adjusted EBITDA:
North America	$	281,313		$	261,238
Europe	205,408			143,656
Asia/Pacific	78,097			67,914
Latin America	69,566			29,988
RIMEA	29,132			19,551
Non-Operating	(17,067		)	(25,383		)
Adjusted EBITDA	646,449			496,964
Amortization of inventory step-up	—			259,195
Severance related costs(a)	29,059			64,915
Other restructuring costs(a)	10,617			2,444
Asset write-offs(a)	38,429			—
Other special items(b)	59,987			(10,937		)
Merger related costs(c)	—			97,798
Depreciation, including accelerated depreciation for restructuring	70,571			72,272
Amortization	24,681			20,771
Interest expense, net	157,469			160,911
Stock based compensation	3,978			—
Other expense, net	37,450			9,819
Income/(loss) from continuing operations before income tax	$	214,208		$	(180,224	)

______________________________________

(a) See Note 5 for further details on restructuring and productivity initiatives.

(b) Includes incremental costs primarily for additional warehousing and other logistics costs incurred related to the U.S. SAP go-live, which was launched in the second quarter of 2014, along with equipment relocation charges, severance and consulting and advisory charges not specifically related to restructuring activities and other items that management believes do not directly reflect our core operations.

(c) See Note 2 for further details on Merger related costs.

	Successor						Predecessor
	December 30, 2013 - September 28, 2014			February 8 - September 22, 2013			December 24, 2012 - June 7, 2013
	(In thousands)
Net external sales:
North America	$	3,116,979		$	1,222,895		$	2,090,049
Europe	2,224,828			815,483			1,365,438
Asia/Pacific	1,551,039			652,785			1,023,379
Latin America	664,875			250,948			389,561
RIMEA	564,760			207,892			335,271
Consolidated Totals	$	8,122,481		$	3,150,003		$	5,203,698
Segment Adjusted EBITDA:
North America	$	936,681		$	294,634		$	516,633
Europe	657,131			170,176			291,990
Asia/Pacific	258,078			84,372			137,292
Latin America	131,942			34,563			38,464
RIMEA	102,545			27,146			48,114
Non-Operating	(58,317		)	(29,459		)	(86,184		)
Adjusted EBITDA	2,028,060			581,432			946,309
Amortization of inventory step-up	—			383,300			—
Severance related costs(a)	112,756			67,500			1,866
Other restructuring costs(a)	48,985			2,444			3,659
Asset write-offs(a)	48,718			—			—
Other special items(b)	106,029			(11,445		)	(11,908		)
Merger related costs(c)	—			153,791			157,002
Unrealized gain on derivative instruments	—			(117,934		)	—
Loss from extinguishment of debt	—			—			129,367
Foodstar earn-out(d)	—			—			12,081
Depreciation, including accelerated depreciation for restructuring	354,298			85,110			143,516
Amortization	74,324			22,256			21,044
Stock based compensation	6,162			—			18,520
Interest expense, net	481,936			219,970			120,200
Other expense, net	101,241			8,928			49,446
Impairment loss on indefinite-lived trademarks(e)	61,774			—			—
Income/(loss) from continuing operations before income tax	$	631,837		$	(232,488	)	$	301,516

______________________________________

(a) See Note 5 for further details on restructuring and productivity initiatives.

(b) Includes incremental costs primarily for additional warehousing and other logistics costs incurred related to the U.S. SAP go-live, which was launched in the second quarter of 2014, along with equipment relocation charges, severance and consulting and advisory charges not specifically related to restructuring activities and other items that management believes do not directly reflect our core operations.

(c) See Note 2 for further details on Merger related costs.

(d) The Company renegotiated the terms of the Foodstar Holdings Pte earn-out resulting in a $12.1 million charge to SG&A in January 2013.

(e) See Note 7 for further details on the impairment loss on indefinite-lived trademarks.

Revenue from External Customers by Products and Services

The Company’s revenues are generated via the sale of products in the following categories:

	Successor
	June 30 - September 28, 2014		June 24 - September 22, 2013
	(In thousands)
Ketchup and Sauces	$	1,344,804	$	1,319,400
Meals and Snacks	887,417		932,927
Infant/Nutrition	273,018		280,141
Other	88,646		114,109
Total	$	2,593,885	$	2,646,577

	Successor				Predecessor
	December 30, 2013 - September 28, 2014		February 8 - September 22, 2013		December 24, 2012 - June 7, 2013
	(In thousands)
Ketchup and Sauces	$	4,087,500	$	1,577,483	$	2,433,468
Meals and Snacks	2,737,328		1,089,553		1,863,421
Infant/Nutrition	859,368		333,784		546,873
Other	438,285		149,183		359,936
Total	$	8,122,481	$	3,150,003	$	5,203,698

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Comprehensive Income/(Loss) (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended	7 Months Ended	9 Months Ended
	Sep. 28, 2014	Sep. 22, 2013	Jun. 07, 2013	Sep. 22, 2013	Sep. 28, 2014
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest [Abstract]
Net income	$ 171,618	$ (11,767)	$ 95,002	$ (52,911)	$ 493,537
Net Income (Loss) Attributable to Noncontrolling Interest	(2,363)	(2,363)	(6,685)	(2,370)	(13,449)
Net income/(loss)	173,981	(9,404)	101,687	(50,541)	506,986
Other comprehensive income/(loss), net of tax:
Comprehensive (loss)/income attributable to H. J. Heinz Corporation II	(267,981)	281,846	(281,174)	186,191	(6,977)
Other Comprehensive Income (Loss), Tax [Abstract]
Net change in fair value of net investment hedges				0
Predecessor
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest [Abstract]
Net income			95,002
Net income/(loss)			101,687
Other comprehensive income/(loss), net of tax:
Foreign currency translation adjustments			(236,495)
Net deferred gains on net investment hedges from periodic revaluations			0
Net pension and post retirement benefit losses			(189,294)
Reclassification of net pension and post-retirement benefit gains to net income			26,867
Net deferred (losses)/gains on other derivatives from periodic revaluations			(4,978)
Net deferred losses/(gains) on derivatives reclassified to earnings			22,674
Comprehensive (loss)/income attributable to H. J. Heinz Corporation II			(281,174)
Total comprehensive (loss)/income			(279,539)
Other Comprehensive Income (Loss), Tax [Abstract]
Net pension and post-retirement benefit (losses)/gains			75,526
Net pension and post-retirement benefit (gains)/losses reclassified to earnings			11,191
Net deferred (losses)/gains on derivatives from periodic revaluations			13,471
Net deferred (gains)/losses on derivatives reclassified to earnings			22,119
Predecessor | H.J. Heinz Company
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest [Abstract]
Net income			95,002
Other comprehensive income/(loss), net of tax:
Foreign currency translation adjustments			(231,442)
Net deferred gains on net investment hedges from periodic revaluations			0
Net pension and post retirement benefit losses			(189,294)
Reclassification of net pension and post-retirement benefit gains to net income			26,908
Net deferred (losses)/gains on other derivatives from periodic revaluations			(5,018)
Net deferred losses/(gains) on derivatives reclassified to earnings			22,670
Other Comprehensive Income (Loss), Tax [Abstract]
Net pension and post-retirement benefit (losses)/gains			75,526
Net pension and post-retirement benefit (gains)/losses reclassified to earnings			11,191
Net deferred (losses)/gains on derivatives from periodic revaluations			13,484
Net deferred (gains)/losses on derivatives reclassified to earnings			22,118
Predecessor | Noncontrolling Interest
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest [Abstract]
Net Income (Loss) Attributable to Noncontrolling Interest			6,685
Other comprehensive income/(loss), net of tax:
Foreign currency translation adjustments			(5,053)
Net deferred gains on net investment hedges from periodic revaluations			0
Net pension and post retirement benefit losses			0
Reclassification of net pension and post-retirement benefit gains to net income			(41)
Net deferred (losses)/gains on other derivatives from periodic revaluations			40
Net deferred losses/(gains) on derivatives reclassified to earnings			4
Total comprehensive (loss)/income			1,635
Other Comprehensive Income (Loss), Tax [Abstract]
Net pension and post-retirement benefit (losses)/gains			0
Net pension and post-retirement benefit (gains)/losses reclassified to earnings			0
Net deferred (losses)/gains on derivatives from periodic revaluations			(13)
Net deferred (gains)/losses on derivatives reclassified to earnings			1
Successor
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest [Abstract]
Net income	171,618	(11,767)		(52,911)	493,537
Net income/(loss)	173,981	(9,404)		(50,541)	506,986
Other comprehensive income/(loss), net of tax:
Foreign currency translation adjustments	(712,630)	288,007		120,521	(417,853)
Net deferred gains on net investment hedges from periodic revaluations	268,375	0		0	108,541
Net pension and post retirement benefit losses	(25,481)	0		0	(53,366)
Reclassification of net pension and post-retirement benefit gains to net income	(986)	0		0	(2,965)
Net deferred (losses)/gains on other derivatives from periodic revaluations	23,099	(3,323)		103,979	(136,221)
Net deferred losses/(gains) on derivatives reclassified to earnings	3,865	(1,219)		(1,219)	(193)
Comprehensive (loss)/income attributable to H. J. Heinz Corporation II	(267,981)	281,846		186,191	(6,977)
Total comprehensive (loss)/income	(269,777)	274,061		172,740	4,929
Other Comprehensive Income (Loss), Tax [Abstract]
Net deferred gains on net investment hedges from periodic revaluations	(165,920)				(67,235)
Net pension and post-retirement benefit (losses)/gains	8,809	0		0	15,780
Net pension and post-retirement benefit (gains)/losses reclassified to earnings	(607)	0		0	(1,813)
Net deferred (losses)/gains on derivatives from periodic revaluations	(14,575)	(817)		(55,830)	64,240
Net deferred (gains)/losses on derivatives reclassified to earnings	(1,720)	(301)		(301)	(6,917)
Successor | H.J. Heinz Company
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest [Abstract]
Net income	171,618	(11,767)		(52,911)	493,537
Other comprehensive income/(loss), net of tax:
Foreign currency translation adjustments	(708,453)	298,402		136,589	(416,748)
Net deferred gains on net investment hedges from periodic revaluations	268,375	0		0	108,541
Net pension and post retirement benefit losses	(25,481)	0		0	(53,366)
Reclassification of net pension and post-retirement benefit gains to net income	(986)	0		0	(2,965)
Net deferred (losses)/gains on other derivatives from periodic revaluations	23,164	(3,609)		103,693	(135,800)
Net deferred losses/(gains) on derivatives reclassified to earnings	3,782	(1,180)		(1,180)	(176)
Comprehensive (loss)/income attributable to H. J. Heinz Corporation II		281,846
Other Comprehensive Income (Loss), Tax [Abstract]
Net deferred gains on net investment hedges from periodic revaluations	(165,920)				(67,235)
Net pension and post-retirement benefit (losses)/gains	8,809	0		0	15,780
Net pension and post-retirement benefit (gains)/losses reclassified to earnings	(607)	0		0	(1,813)
Net deferred (losses)/gains on derivatives from periodic revaluations	(14,597)	(722)		(55,735)	64,099
Net deferred (gains)/losses on derivatives reclassified to earnings	(1,748)	(288)		(288)	(6,911)
Successor | Noncontrolling Interest
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest [Abstract]
Net Income (Loss) Attributable to Noncontrolling Interest	2,363	2,363		2,370	13,449
Other comprehensive income/(loss), net of tax:
Foreign currency translation adjustments	(4,177)	(10,395)		(16,068)	(1,105)
Net deferred gains on net investment hedges from periodic revaluations	0	0		0	0
Net pension and post retirement benefit losses	0	0		0	0
Reclassification of net pension and post-retirement benefit gains to net income	0	0		0	0
Net deferred (losses)/gains on other derivatives from periodic revaluations	(65)	286		286	(421)
Net deferred losses/(gains) on derivatives reclassified to earnings	83	(39)		(39)	(17)
Total comprehensive (loss)/income	(1,796)	(7,785)		(13,451)	11,906
Other Comprehensive Income (Loss), Tax [Abstract]
Net deferred gains on net investment hedges from periodic revaluations	0				0
Net pension and post-retirement benefit (losses)/gains	0	0		0	0
Net pension and post-retirement benefit (gains)/losses reclassified to earnings	0	0		0	0
Net deferred (losses)/gains on derivatives from periodic revaluations	22	(95)		(95)	141
Net deferred (gains)/losses on derivatives reclassified to earnings	$ 28	$ (13)		$ (13)	$ (6)

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Restructuring and Productivity Initiatives (Narrative) (Details) (USD $)	3 Months Ended		7 Months Ended	9 Months Ended		3 Months Ended		7 Months Ended	9 Months Ended	3 Months Ended		7 Months Ended	9 Months Ended			3 Months Ended			7 Months Ended	9 Months Ended				3 Months Ended		9 Months Ended			3 Months Ended				7 Months Ended		9 Months Ended		3 Months Ended		6 Months Ended		3 Months Ended	7 Months Ended	9 Months Ended
	Sep. 28, 2014 employee	Sep. 22, 2013	Sep. 22, 2013	Sep. 28, 2014 employee	Dec. 29, 2013	Sep. 28, 2014 Cost of Sales	Sep. 22, 2013 Cost of Sales	Sep. 22, 2013 Cost of Sales	Sep. 28, 2014 Cost of Sales	Sep. 28, 2014 Selling, General and Administrative Expenses	Sep. 22, 2013 Selling, General and Administrative Expenses	Sep. 22, 2013 Selling, General and Administrative Expenses	Sep. 28, 2014 Selling, General and Administrative Expenses	Sep. 28, 2014 Severance and other severance related costs (a)	Dec. 29, 2013 Severance and other severance related costs (a)	Sep. 28, 2014 Other exit costs		Sep. 22, 2013 Other exit costs	Sep. 22, 2013 Other exit costs	Sep. 28, 2014 Other exit costs		Dec. 29, 2013 Other exit costs		Sep. 28, 2014 Facility Closing factories	Sep. 22, 2013 Facility Closing	Sep. 28, 2014 Facility Closing employee factories	Sep. 27, 2014 Facility Closing factories	Dec. 29, 2013 Restatement Adjustment Severance and other severance related costs (a)	Sep. 28, 2014 Successor		Sep. 22, 2013 Successor		Sep. 22, 2013 Successor		Sep. 28, 2014 Successor		Jun. 07, 2013 Predecessor		Jun. 07, 2013 Predecessor		Sep. 28, 2014 Pension Benefits Facility Closing	Sep. 22, 2013 Pension Benefits Facility Closing	Sep. 28, 2014 Pension Benefits Facility Closing
Restructuring Cost and Reserve [Line Items]
Number of positions eliminated				4,050																						1,450
Restructuring and Related Cost, Cost Incurred to Date				$ 86,000,000																						$ 91,000,000
Estimated severance and other severance related expenses														300,000,000
Incurred cost	80,900,000	67,300,000	69,900,000	338,200,000		67,600,000	20,800,000	23,200,000	292,900,000	13,300,000	46,500,000	46,700,000	45,300,000	289,000,000		10,600,000		2,400,000	2,400,000	49,000,000				41,200,000	64,900,000	176,400,000															29,100,000	67,500,000	112,800,000
Number of facilities eliminated																								6		6	5
Restructuring approximate number of positions affected	200																									1,600
Severance related costs	12,000,000																												29,059,000	[1]	64,915,000	[1]	67,500,000	[1]	112,756,000	[1]	1,866,000	[1]	1,866,000	[1]
Impairment of long-lived assets to be disposed of	33,000,000
Restructuring Reserve, Current	$ 89,400,000			$ 89,400,000	$ 107,900,000									$ 58,600,000	$ 66,300,000	$ 30,800,000	[2]			$ 30,800,000	[2]	$ 41,600,000	[2]					$ 27,000,000

[1] See Note 5 for further details on restructuring and productivity initiatives.

[2] Other exit costs primarily represent professional fees, and contract and lease termination costs.

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Basis of Presentation (Details) (USD $)	3 Months Ended		6 Months Ended	7 Months Ended	9 Months Ended
	Sep. 28, 2014	Sep. 22, 2013	Jun. 07, 2013	Sep. 22, 2013	Sep. 28, 2014
Debt Instrument [Line Items]
Decrease in other expenses	$ (37,450,000)	$ (9,819,000)	$ (182,618,000)	$ 109,006,000	$ (101,241,000)
4.25% Senior secured notes | Senior Notes
Debt Instrument [Line Items]
Stated interest rate			4.25%
Long-term debt
Debt Instrument [Line Items]
Business combination, senior credit facility			3,100,000,000
Restatement Adjustment
Debt Instrument [Line Items]
Increase in interest expense		12,300,000		14,800,000
Decrease in other expenses		$ 12,300,000		$ 14,800,000

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Changes in Equity (Details) (USD $)	9 Months Ended
	Sep. 28, 2014
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ 16,513,258,000
Comprehensive (loss)/ income	3,487,000	[1]
Dividends Paid to Shareholders	(540,000,000)	[2]
Adjustments to Additional Paid in Capital, Other	4,361,000	[3]
Stock option expense	(6,162,000)
Ending balance	15,987,268,000
Comprehensive income attributable to redeemable noncontrolling interest	1,400,000
Capital Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	16,140,000,000
Comprehensive (loss)/ income	0	[1]
Dividends Paid to Shareholders	(123,484,000)
Adjustments to Additional Paid in Capital, Other	0	[3]
Stock option expense	0
Ending balance	16,016,516,000
Additional Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	1,427,000
Comprehensive (loss)/ income	0
Dividends Paid to Shareholders	0
Adjustments to Additional Paid in Capital, Other	4,361,000
Stock option expense	(6,162,000)
Ending balance	11,950,000
Retained Earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(77,021,000)
Comprehensive (loss)/ income	493,537,000	[1]
Dividends Paid to Shareholders	(416,516,000)
Adjustments to Additional Paid in Capital, Other	0	[3]
Stock option expense	0
Ending balance	0
Accum OCI
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	233,010,000
Comprehensive (loss)/ income	(500,514,000)	[1]
Dividends Paid to Shareholders	0
Adjustments to Additional Paid in Capital, Other	0	[3]
Stock option expense	0
Ending balance	(267,504,000)
Noncontrolling Interest
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	215,842,000
Comprehensive (loss)/ income	10,464,000	[1]
Dividends Paid to Shareholders	0
Adjustments to Additional Paid in Capital, Other	0	[3]
Stock option expense	0
Ending balance	$ 226,306,000

[1] The allocation of the individual components of comprehensive income/(loss) attributable to H. J. Heinz Corporation II and the noncontrolling interest is disclosed in Note 11. Comprehensive income attributable to the redeemable noncontrolling interest is $1.4 million for the nine months ended September 28, 2014.

[2] Foreign currency derivative contracts are valued based on observable market spot and forward rates and classified within Level 2 of the fair value hierarchy. Interest rate swaps are valued based on observable market swap rates and classified within Level 2 of the fair value hierarchy. Cross-currency swaps are valued based on observable market spot and swap rates and classified within Level 2 of the fair value hierarchy.

[3] Represents non cash capital contribution associated with the push down of shares issued by Parent to certain employees in conjunction with the Bonus Swap Program. See Note 9.

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Supplemental Financial Information (Narrative) (Details) (USD $)	Sep. 28, 2014	Dec. 29, 2013	Jun. 07, 2013 Long-term debt	Jun. 07, 2013 Senior Notes 4.25% Senior secured notes	Sep. 28, 2014 Guarantors	Dec. 29, 2013 Guarantors	Sep. 28, 2014 Issuer	Dec. 29, 2013 Issuer	Dec. 29, 2013 Restatement Adjustment Guarantors	Dec. 29, 2013 Restatement Adjustment Issuer
Debt Instrument [Line Items]
Business combination, senior credit facility			$ 3,100,000,000
Stated interest rate				4.25%
Other non-current assets	1,167,487,000	1,305,015,000			112,819,000	106,116,000	559,535,000	660,829,000	2,000,000	26,000,000
Total current liabilities	2,905,322,000	2,924,859,000			1,147,317,000	3,030,647,000	1,447,122,000	602,163,000	9,000,000	9,000,000
Other non-current liabilities	457,321,000	529,425,000			31,976,000	35,989,000	211,155,000	372,224,000	17,000,000	11,000,000
Total shareholder equity	15,760,962,000	16,297,416,000			27,674,543,000	25,784,608,000	15,760,962,000	16,297,416,000	24,000,000
Investments in subsidiaries	$ 0	$ 0			$ 14,437,353,000	$ 15,500,336,000	$ 27,892,497,000	$ 26,057,892,000		$ 24,000,000

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Income Taxes (Details) (USD $)	3 Months Ended		6 Months Ended	7 Months Ended	9 Months Ended		1 Months Ended	3 Months Ended		7 Months Ended	9 Months Ended	6 Months Ended
	Sep. 28, 2014	Sep. 22, 2013	Jun. 07, 2013	Sep. 22, 2013	Sep. 28, 2014	Dec. 29, 2013	Jul. 31, 2013 Successor	Sep. 28, 2014 Successor	Sep. 22, 2013 Successor	Sep. 22, 2013 Successor	Sep. 28, 2014 Successor	Jun. 07, 2013 Predecessor
Income Tax Contingency [Line Items]
International sales percent					70.00%
Income tax (benefit) expense	$ (40,227,000)	$ 175,729,000	$ (160,166,000)	$ 186,856,000	$ (124,851,000)		$ (106,700,000)	$ (40,227,000)	$ 175,729,000	$ 186,856,000	$ (124,851,000)	$ (160,166,000)
Effective tax rate			53.10%	80.40%	19.80%
Income tax, decrease in statutory federal rate							3.00%
Federal statutory tax rate					35.00%
Unrecognized tax benefits	68,300,000				68,300,000	53,100,000
Unrecognized tax benefits that would impact effective tax rate	54,900,000				54,900,000	44,900,000
Significant change in unrecognized tax benefits is reasonably possible, amount of unrecorded benefit	23,400,000				23,400,000
Unrecognized tax benefits, interest on income taxes accrued	13,300,000				13,300,000	10,700,000
Unrecognized tax benefits, income tax penalties accrued	$ 8,300,000				$ 8,300,000	$ 8,500,000

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Recently Issued Accounting Standards

9 Months Ended

Sep. 28, 2014

Accounting Policies [Abstract]

Recently Issued Accounting Standards

Recently Issued Accounting Standards

In May 2014, the FASB announced the issuance of ASU 2014-09, which provides guidance for recognizing revenue from contracts with customers. The new guidance establishes a five-step model for recognizing revenue, which will supersede a number of existing revenue recognition requirements under U.S. GAAP, providing consistency across industries. The Company is required to adopt this standard for annual reporting periods beginning after December 15, 2016, and for interim and annual reporting periods thereafter. Earlier adoption is not permitted. The Company is currently evaluating the impact the adoption of this standard will have on its consolidated financial statements.

In April 2014, the FASB issued an amendment to the standard for reporting discontinued operations and disclosure of disposals of components of an entity. This revised standard changes the criteria for determining which disposals can be presented as discontinued operations and modifies the disclosure requirements. Under the new guidance, a discontinued operation is defined as a disposal of a component or group of components that is disposed of or is classified as held for sale and represents a strategic shift that has (or will have) a major effect on an entity's operations and financial results. The amendment states that a strategic shift could include a disposal of (i) a major geographic area of operations, (ii) a major line of business, (iii) a major equity method investment, or (iv) other major parts of an entity. The Company is required to adopt this revised standard prospectively for new disposals starting in 2015; however, the Company can, and will, early adopt the revised standard for any new disposals that may occur in 2014.

In July 2013, the FASB issued ASU 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists (ASU 2013-11). ASU 2013-11 requires the netting of unrecognized tax benefits (UTBs) against a deferred tax asset for a loss or other carryforward that would apply in settlement of the uncertain tax positions. UTBs are required to be netted against all available same-jurisdiction loss or other tax carryforwards that would be utilized, rather than only against carryforwards that are created by the UTBs. ASU 2013-11 was effective for interim and annual periods beginning after December 15, 2013. The Company adopted ASU 2013-11 in the first quarter of 2014 on a prospective basis. The adoption did not have a significant impact on the Company’s consolidated financial statements.

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Supplemental Financial Information (Condensed Consolidating Statement of Operations) (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended	7 Months Ended	9 Months Ended
	Sep. 28, 2014	Sep. 22, 2013	Jun. 07, 2013	Sep. 22, 2013	Sep. 28, 2014
Sales	$ 2,593,885	$ 2,646,577	$ 5,203,698	$ 3,150,003	$ 8,122,481
Cost of product sold	1,677,862	1,986,414	3,316,896	2,437,138	5,368,258
Gross profit	916,023	660,163	1,886,802	712,865	2,754,223
Selling, general and administrative expenses	506,896	669,657	1,282,468	834,389	1,539,209
Operating income	409,127	(9,494)	604,334	(121,524)	1,215,014
Interest expense/(income), net	157,469	160,911	120,200	219,970	481,936
Other (expense)/income, net	(37,450)	(9,819)	(182,618)	109,006	(101,241)
(Loss)/income before income taxes	214,208	(180,224)	301,516	(232,488)	631,837
Equity in earnings of subsidiaries	0	0	0	0	0
(Benefit from)/provision for income taxes	40,227	(175,729)	160,166	(186,856)	124,851
Income/(loss) from continuing operations		(4,495)	141,350	(45,632)
Loss from discontinued operations, net of tax		(4,909)	(39,663)	(4,909)
Net income	173,981	(9,404)	101,687	(50,541)	506,986
Less: Net income attributable to noncontrolling interest	2,363	2,363	6,685	2,370	13,449
Net income	171,618	(11,767)	95,002	(52,911)	493,537
Total comprehensive loss	(267,981)	281,846	(281,174)	186,191	(6,977)
Parent
Sales	0	0		0	0
Cost of product sold	0	0		0	0
Gross profit	0	0		0	0
Selling, general and administrative expenses	0	0		0	0
Operating income	0	0		0	0
Interest expense/(income), net	0	0		0	0
Other (expense)/income, net	0	0		0	0
(Loss)/income before income taxes	0	0		0	0
Equity in earnings of subsidiaries	171,618	(11,767)		(52,911)	493,537
(Benefit from)/provision for income taxes	0	0		0	0
Income/(loss) from continuing operations		(11,767)		(52,911)
Loss from discontinued operations, net of tax		0		0
Net income	171,618	(11,767)		(52,911)	493,537
Less: Net income attributable to noncontrolling interest	0	0		0	0
Net income	171,618	(11,767)		(52,911)	493,537
Total comprehensive loss	(267,981)	281,846		186,191	(6,977)
Issuer
Sales	49,567	56,966	110,590	75,818	164,861
Cost of product sold	393	405	2,066	405	47,338
Gross profit	49,174	56,561	108,524	75,413	117,523
Selling, general and administrative expenses	36,599	70,072	205,701	69,461	78,041
Operating income	12,575	(13,511)	(97,177)	5,952	39,482
Interest expense/(income), net	153,995	152,462	74,849	210,615	465,029
Other (expense)/income, net	(3,522)	(2,246)	(36,264)	113,782	(20,279)
(Loss)/income before income taxes	(144,942)	(168,219)	(208,290)	(90,881)	(445,826)
Equity in earnings of subsidiaries	303,868	77,551	372,871	(12,893)	932,748
(Benefit from)/provision for income taxes	(12,692)	(78,901)	69,579	(50,863)	(6,615)
Income/(loss) from continuing operations		(11,767)	95,002	(52,911)
Loss from discontinued operations, net of tax		0	0	0
Net income	171,618	(11,767)	95,002	(52,911)	493,537
Less: Net income attributable to noncontrolling interest	0	0	0	0	0
Net income	171,618	(11,767)	95,002	(52,911)	493,537
Total comprehensive loss	(267,981)	281,846	(281,174)	186,191	(6,977)
Guarantors
Sales	859,335	905,516	1,797,869	1,062,308	2,711,434
Cost of product sold	601,921	728,293	1,225,167	908,986	1,901,663
Gross profit	257,414	177,223	572,702	153,322	809,771
Selling, general and administrative expenses	147,775	178,363	306,083	229,138	425,522
Operating income	109,639	(1,140)	266,619	(75,816)	384,249
Interest expense/(income), net	6,246	2,717	38,805	2,952	20,237
Other (expense)/income, net	14,690	(821)	(107,867)	(1,122)	8,164
(Loss)/income before income taxes	118,083	(4,678)	119,947	(79,890)	372,176
Equity in earnings of subsidiaries	170,015	72,228	256,604	64,939	521,063
(Benefit from)/provision for income taxes	4,595	(11,543)	28,906	(11,465)	10,376
Income/(loss) from continuing operations		79,093	347,645	(3,486)
Loss from discontinued operations, net of tax		0	0	0
Net income	283,503	79,093	347,645	(3,486)	882,863
Less: Net income attributable to noncontrolling interest	0	0	0	0	0
Net income	283,503	79,093	347,645	(3,486)	882,863
Total comprehensive loss	(376,562)	372,208	40,726	125,626	518,232
Non-Guarantors
Sales	1,762,114	1,775,685	3,449,189	2,123,815	5,497,793
Cost of product sold	1,152,679	1,349,306	2,243,613	1,639,685	3,670,864
Gross profit	609,435	426,379	1,205,576	484,130	1,826,929
Selling, general and administrative expenses	322,522	421,222	770,684	535,790	1,035,646
Operating income	286,913	5,157	434,892	(51,660)	791,283
Interest expense/(income), net	(2,772)	5,732	6,546	6,403	(3,330)
Other (expense)/income, net	(48,618)	(6,752)	(38,487)	(3,654)	(89,126)
(Loss)/income before income taxes	241,067	(7,327)	389,859	(61,717)	705,487
Equity in earnings of subsidiaries	0	0	0	0	0
(Benefit from)/provision for income taxes	48,324	(85,285)	61,681	(124,528)	121,090
Income/(loss) from continuing operations		77,958	328,178	62,811
Loss from discontinued operations, net of tax		(4,909)	(39,663)	(4,909)
Net income	192,743	73,049	288,515	57,902	584,397
Less: Net income attributable to noncontrolling interest	2,363	2,363	6,685	2,370	13,449
Net income	190,380	70,686	281,830	55,532	570,948
Total comprehensive loss	(537,417)	381,905	28,192	195,887	168,740
Eliminations
Sales	(77,131)	(91,590)	(153,950)	(111,938)	(251,607)
Cost of product sold	(77,131)	(91,590)	(153,950)	(111,938)	(251,607)
Gross profit	0	0	0	0	0
Selling, general and administrative expenses	0	0	0	0	0
Operating income	0	0	0	0	0
Interest expense/(income), net	0	0	0	0	0
Other (expense)/income, net	0	0	0	0	0
(Loss)/income before income taxes	0	0	0	0	0
Equity in earnings of subsidiaries	(645,501)	(138,012)	(629,475)	865	(1,947,348)
(Benefit from)/provision for income taxes		0	0	0	0
Income/(loss) from continuing operations		(138,012)	(629,475)	865
Loss from discontinued operations, net of tax		0	0	0
Net income	(645,501)	(138,012)	(629,475)	865	(1,947,348)
Less: Net income attributable to noncontrolling interest	0	0	0	0	0
Net income	(645,501)	(138,012)	(629,475)	865	(1,947,348)
Total comprehensive loss	$ 1,181,960	$ (1,035,959)	$ (68,918)	$ (507,704)	$ (679,995)

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Restructuring and Productivity Initiatives (Details) (USD $) In Millions, unless otherwise specified	9 Months Ended					3 Months Ended		7 Months Ended	9 Months Ended	3 Months Ended		7 Months Ended	9 Months Ended	3 Months Ended		7 Months Ended	9 Months Ended	3 Months Ended		7 Months Ended	9 Months Ended	3 Months Ended		7 Months Ended	9 Months Ended	3 Months Ended		7 Months Ended	9 Months Ended	3 Months Ended		7 Months Ended	9 Months Ended	6 Months Ended
	Sep. 28, 2014	Sep. 28, 2014 Severance and other severance related costs (a)	Sep. 28, 2014 Other exit costs		Dec. 29, 2013 Restatement Adjustment Severance and other severance related costs (a)	Sep. 28, 2014 Successor	Sep. 22, 2013 Successor	Sep. 22, 2013 Successor	Sep. 28, 2014 Successor	Sep. 28, 2014 Successor North American Consumer Products	Sep. 22, 2013 Successor North American Consumer Products	Sep. 22, 2013 Successor North American Consumer Products	Sep. 28, 2014 Successor North American Consumer Products	Sep. 28, 2014 Successor Europe	Sep. 22, 2013 Successor Europe	Sep. 22, 2013 Successor Europe	Sep. 28, 2014 Successor Europe	Sep. 28, 2014 Successor Asia/Pacific	Sep. 22, 2013 Successor Asia/Pacific	Sep. 22, 2013 Successor Asia/Pacific	Sep. 28, 2014 Successor Asia/Pacific	Sep. 28, 2014 Successor Latin America	Sep. 22, 2013 Successor Latin America	Sep. 22, 2013 Successor Latin America	Sep. 28, 2014 Successor Latin America	Sep. 28, 2014 Successor RIMEA	Sep. 22, 2013 Successor RIMEA	Sep. 22, 2013 Successor RIMEA	Sep. 28, 2014 Successor RIMEA	Sep. 28, 2014 Successor Non-operating	Sep. 22, 2013 Successor Non-operating	Sep. 22, 2013 Successor Non-operating	Sep. 28, 2014 Successor Non-operating	Jun. 07, 2013 Predecessor	Jun. 07, 2013 Predecessor North American Consumer Products	Jun. 07, 2013 Predecessor Europe	Jun. 07, 2013 Predecessor Asia/Pacific	Jun. 07, 2013 Predecessor Latin America	Jun. 07, 2013 Predecessor RIMEA	Jun. 07, 2013 Predecessor Non-operating
Segment Reporting Information [Line Items]
Productivity charges						$ 80.9	$ 67.3	$ 69.9	$ 338.2	$ 5.2	$ 39.2	$ 39.2	$ 161.1	$ 63.1	$ 1.4	$ 1.4	$ 126.4	$ 8.0	$ 3.5	$ 6.1	$ 26.5	$ 3.5	$ 15.3	$ 15.3	$ 3.7	$ 0.9	$ 1.0	$ 1.0	$ 2.5	$ 0.2	$ 6.9	$ 6.9	$ 18.0	$ 6.0	$ 0	$ 3.6	$ 2.4	$ 0	$ 0	$ 0
Restructuring Reserve [Roll Forward]
Accrual balance at December 29, 2013	107.9	66.3	41.6	[1]	27.0
2014 Restructuring and productivity initiatives	161.8	112.8	49.0	[1]
Cash payments	(180.3)	(120.5)	(59.8)	[1]
Accrual balance at June 29, 2014	$ 89.4	$ 58.6	$ 30.8	[1]	$ 27.0

[1] Other exit costs primarily represent professional fees, and contract and lease termination costs.

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Employees' Stock Incentive Plans and Management Incentive Plans (Tables)

9 Months Ended

Sep. 28, 2014

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The weighted average assumptions used to estimate the fair values are as follows:

	Successor
	Nine Months Ended
	Stock Options Granted October 16, 2013			Stock Options Granted February 14, 2014			Stock Options Granted May 21, 2014
Exercise price	$	10.00		$	10.00		$	10.00
Risk-free interest rate	1.41		%	1.41		%	1.55		%
Expected term (in years)	5.0			5.0			5.0
Expected volatility	24.3		%	24.3		%	24.3		%
Expected forfeiture rate	5.0		%	5.0		%	5.0		%
Expected dividend yield	—		%	—		%	—		%

Stock Option and Restricted Stock Plans

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan

The compensation cost related to equity plans primarily recognized in SG&A and Merger related costs, and the related tax benefit, are as follows:

	Successor
	June 30 - September 28, 2014		June 24 - September 22, 2013
	(In millions)
Pre-tax compensation cost	$	2.6	$	1.9
Tax benefit	0.9		0.6
After-tax compensation cost	$	1.7	$	1.3

	Successor				Predecessor
	December 30, 2013 - September 28, 2014		February 8 - September 22, 2013		December 24, 2012 - June 7, 2013
	(In millions)
Pre-tax compensation cost	$	6.2	$	1.9	$	36.4
Tax benefit	2.1		0.6		11.2
After-tax compensation cost	$	4.1	$	1.3	$	25.2

LTPP

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan

The compensation cost related to LTPP awards primarily recognized in SG&A and the related tax benefit during the Predecessor periods presented are as follows (there was no compensation cost related to LTPP awards in the Successor periods):

	Predecessor
	December 24, 2012 - June 7, 2013
	(In millions)
Pre-tax compensation cost	$	8.1
Tax benefit	2.8
After-tax compensation cost	$	5.3

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Goodwill and Other Intangible Assets (Tables)

9 Months Ended

Sep. 28, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in the carrying amount of goodwill

Changes in the carrying amount of goodwill for the period from December 29, 2013 to September 28, 2014, by reportable segment, are as follows:

	North America			Europe			Asia/Pacific			Latin America			RIMEA			Total
Successor	(In thousands)
Balance at December 29, 2013	$	9,853,578		$	3,704,658		$	1,026,979		$	210,916		$	273,931		$	15,070,062
Purchase accounting adjustments	215,034			(56,853		)	46,293			48,738			(3,299		)	249,913
Translation adjustments	(45,770		)	(85,294		)	(11,231		)	(11,091		)	1,002			(152,384		)
Balance at September 28, 2014	$	10,022,842		$	3,562,511		$	1,062,041		$	248,563		$	271,634		$	15,167,591

Schedule of Finite-Lived Intangible Assets by Major Class

Other intangible assets at September 28, 2014 and December 29, 2013 subject to amortization expense are as follows:

	September 28, 2014							December 29, 2013
	Gross		Accumulated Amortization			Net		Gross		Accumulated Amortization			Net
	(In thousands)
Customer-related assets	$	1,351,001	$	(85,301	)	$	1,265,700	$	1,375,876	$	(35,773	)	$	1,340,103
Licenses	119,325		(24,547		)	94,778		119,714		(10,030		)	109,684
Other	16,369		(1,494		)	14,875		24,665		(1,118		)	23,547
	$	1,486,695	$	(111,342	)	$	1,375,353	$	1,520,255	$	(46,921	)	$	1,473,334

Summarized Amortization Expense

The following tables summarize amortization expense for customer-related and other intangible assets for the periods presented:

	Successor
	June 30 - September 28, 2014		June 24 - September 22, 2013
	(In thousands)
Amortization of customer-related and other intangible assets	$	22,632	$	19,254

	Successor				Predecessor
	December 30, 2013 - September 28, 2014		February 8 - September 22, 2013		December 24, 2012 - June 7, 2013
	(In thousands)
Amortization of customer-related and other intangible assets	$	68,327	$	20,259	$	13,673

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Fair Value Measurements (Details) (USD $)	Sep. 28, 2014		Dec. 29, 2013
Carrying (Reported) Amount, Fair Value Disclosure
Fair Value Measurements (Textuals) [Abstract]
Fair value of long term debt	$ 14,600,000,000		$ 14,700,000,000
Level 2 | Estimate of Fair Value, Fair Value Disclosure
Fair Value Measurements (Textuals) [Abstract]
Fair value of long term debt	14,500,000,000		14,700,000,000
Fair Value, Measurements, Recurring
Assets:
Derivatives	284,021,000	[1]	346,665,000	[1]
Total assets at fair value	284,021,000		346,665,000
Liabilities:
Derivatives	125,437,000	[1]	237,436,000	[1]
Total liabilities at fair value	125,437,000		237,436,000
Fair Value, Measurements, Recurring | Level 1
Assets:
Derivatives	0	[1]	0	[1]
Total assets at fair value	0		0
Liabilities:
Derivatives	0	[1]	0	[1]
Total liabilities at fair value	0		0
Fair Value, Measurements, Recurring | Level 2
Assets:
Derivatives			346,665,000	[1]
Total assets at fair value	284,021,000		346,665,000
Liabilities:
Derivatives			237,436,000	[1]
Total liabilities at fair value	125,437,000		237,436,000
Fair Value, Measurements, Recurring | Level 3
Assets:
Derivatives	0	[1]	0	[1]
Total assets at fair value	0		0
Liabilities:
Derivatives	0	[1]	0	[1]
Total liabilities at fair value	$ 0	[2]	$ 0

[1] Foreign currency derivative contracts are valued based on observable market spot and forward rates and classified within Level 2 of the fair value hierarchy. Interest rate swaps are valued based on observable market swap rates and classified within Level 2 of the fair value hierarchy. Cross-currency swaps are valued based on observable market spot and swap rates and classified within Level 2 of the fair value hierarchy.

[2] The Company’s derivative financial instruments are subject to master netting arrangements that allow for the offset of asset and liabilities in the event of default or early termination of the contract. The Company elects to record the gross assets and liabilities of its derivative financial instruments in the condensed consolidated balance sheets. If the derivative financial instruments had been netted in the condensed consolidated balance sheets, the asset and liability positions each would have been reduced by $125.4 million and $237.4 million at September 28, 2014 and December 29, 2013, respectively.

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Discontinued Operations (Details) (USD $)	3 Months Ended	6 Months Ended	7 Months Ended	3 Months Ended		7 Months Ended	9 Months Ended	6 Months Ended	3 Months Ended		7 Months Ended	9 Months Ended	6 Months Ended	1 Months Ended
	Sep. 22, 2013	Jun. 07, 2013	Sep. 22, 2013	Sep. 28, 2014 Successor	Sep. 22, 2013 Successor	Sep. 22, 2013 Successor	Sep. 28, 2014 Successor	Jun. 07, 2013 Predecessor	Sep. 28, 2014 Long Fong Successor	Sep. 22, 2013 Long Fong Successor	Sep. 22, 2013 Long Fong Successor	Sep. 28, 2014 Long Fong Successor	Jun. 07, 2013 Long Fong Predecessor	Jan. 31, 2013 Asia/Pacific Predecessor
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Goodwill, Impairment Loss														$ 36,000,000
Operating Results from Discontinued Operation [Abstract]
Sales									0	3,000,000	3,000,000	0	26,500,000
Net after-tax losses	$ (4,909,000)	$ (39,663,000)	$ (4,909,000)	$ 0	$ (4,909,000)	$ (4,909,000)	$ 0	$ (39,663,000)	$ 0	$ (4,900,000)	$ (4,900,000)	$ 0	$ (3,700,000)

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Pensions and Other Postretirement Benefits (Tables)

9 Months Ended

Sep. 28, 2014

Compensation and Retirement Disclosure [Abstract]

Components of net periodic benefit cost

The components of net periodic benefit (income)/expense are as follows:

	Successor						Successor
	Pension Benefits						Other Retiree Benefits
	June 30 - September 28, 2014			June 24 - September 22, 2013			June 30 - September 28, 2014			June 24 - September 22, 2013
	(In thousands)
Service cost	$	7,303		$	9,555		$	1,430		$	1,640
Interest cost	34,959			33,190			2,209			2,334
Expected return on plan assets	(56,206		)	(53,720		)	—			—
Amortization of prior service cost/(credit)	—			—			(1,577		)	—
Amortization of unrecognized (gain)/loss	(16		)	—						—
Special Termination Benefits	1,784			—			—			—
Curtailment (gains) and settlement losses	(1,494		)	—			(6,868		)	—
Net periodic benefit (income)/expense	$	(13,670	)	$	(10,975	)	$	(4,806	)	$	3,974

	Successor						Predecessor			Successor					Predecessor
	Pension Benefits									Other Retiree Benefits
	December 30, 2013 - September 28, 2014			February 8 - September 22, 2013			December 24, 2012 - June 7, 2013			December 30, 2013 - September 28, 2014			February 8 - September 22, 2013		December 24, 2012 - June 7, 2013
	(In thousands)
Service cost	$	22,353		$	10,950		$	14,673		$	4,256		$	1,905	$	2,909
Interest cost	105,320			38,342			57,912			6,591			2,705		4,260
Expected return on plan assets	(166,631		)	(63,750		)	(111,162		)	—			—		—
Amortization of prior service cost/(credit)	—			—			1,077			(4,731		)	—		(2,736		)
Amortization of unrecognized (gain)/loss	(47		)	—			35,759			—			—		823
Special Termination Benefits	1,784			—			17,230			—			—		—
Curtailment (gains) and settlement losses	(2,289		)	—			3,177			(6,868		)	—		—
Net periodic benefit (income)/expense	$	(39,510	)	$	(14,458	)	$	18,666		$	(752	)	$	4,610	$	5,256

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Comprehensive Income/(Loss) (Tables)

9 Months Ended

Sep. 28, 2014

Equity [Abstract]

Summary of comprehensive income

The following tables summarize the allocation of total comprehensive income between H. J. Heinz Corporation II and the noncontrolling interest for the third quarters ended September 28, 2014 and September 22, 2013, respectively:

	Successor
	June 30 - September 28, 2014									June 24 - September 22, 2013
	H. J. Heinz Corporation II			Non-controlling Interest			Total			H. J. Heinz Corporation II			Non-controlling Interest			Total
	(In thousands)
Net income/(loss)	$	171,618		$	2,363		$	173,981		$	(11,767	)	$	2,363		$	(9,404	)
Other comprehensive (loss)/income, net of tax:
Foreign currency translation adjustments (losses)/gains	(708,453		)	(4,177		)	(712,630		)	298,402			(10,395		)	288,007
Net deferred gains on net investment hedges from periodic revaluations	268,375			—			268,375			—			—			—
Net pension and post-retirement benefit losses	(25,481		)	—			(25,481		)	—			—			—
Net pension and post-retirement benefit gains reclassified to earnings	(986		)	—			(986		)	—			—			—
Net deferred gains/(losses) on derivatives from periodic revaluations	23,164			(65		)	23,099			(3,609		)	286			(3,323		)
Net deferred losses/(gains) on derivatives reclassified to earnings	3,782			83			3,865			(1,180		)	(39		)	(1,219		)
Total comprehensive (loss)/income	$	(267,981	)	$	(1,796	)	$	(269,777	)	$	281,846		$	(7,785	)	$	274,061

	Successor																		Predecessor
	December 30, 2013 - September 28, 2014									February 8 - September 22, 2013									December 24, 2012 - June 7, 2013
	H. J. Heinz Corporation II			Non-controlling Interest			Total			H. J. Heinz Corporation II			Non-controlling Interest			Total			H. J. Heinz Corporation II			Non-controlling Interest			Total
	(In thousands)
Net income/(loss)	$	493,537		$	13,449		$	506,986		$	(52,911	)	$	2,370		$	(50,541	)	$	95,002		$	6,685		$	101,687
Other comprehensive (loss)/income, net of tax:
Foreign currency translation adjustments (losses)/gains	(416,748		)	(1,105		)	(417,853		)	136,589			(16,068		)	120,521			(231,442		)	(5,053		)	(236,495		)
Net deferred gains on net investment hedges from periodic revaluations	108,541			—			108,541			—			—			—			—			—			—
Net pension and post-retirement benefit losses	(53,366		)	—			(53,366		)	—			—			—			(189,294		)	—			(189,294		)
Net pension and post-retirement benefit (gains)/losses reclassified to earnings	(2,965		)	—			(2,965		)	—			—			—			26,908			(41		)	26,867
Net deferred (losses)/gains on derivatives from periodic revaluations	(135,800		)	(421		)	(136,221		)	103,693			286			103,979			(5,018		)	40			(4,978		)
Net deferred (gains)/losses on derivatives reclassified to earnings	(176		)	(17		)	(193		)	(1,180		)	(39		)	(1,219		)	22,670			4			22,674
Total comprehensive (loss)/income	$	(6,977	)	$	11,906		$	4,929		$	186,191		$	(13,451	)	$	172,740		$	(281,174	)	$	1,635		$	(279,539	)

Tax Expenses Benefits Associated With Components Of Other Comprehensive Income

The tax (expense)/benefit associated with each component of other comprehensive income/(loss) is as follows:

	H. J. Heinz Corporation II			Noncontrolling Interest			Total
	(In thousands)
Successor
June 24 - September 22, 2013
Net pension and post-retirement benefit (losses)/gains	$	—		$	—		$	—
Net pension and post-retirement benefit (gains)/losses reclassified to earnings	$	—		$	—		$	—
Net deferred (losses)/gains on derivatives from periodic revaluations	$	(722	)	$	(95	)	$	(817	)
Net deferred (gains)/losses on derivatives reclassified to earnings	$	(288	)	$	(13	)	$	(301	)
June 30 - September 28, 2014
Net deferred gains on net investment hedges from periodic revaluations	$	(165,920	)	$	—		$	(165,920	)
Net pension and post-retirement benefit (losses)/gains	$	8,809		$	—		$	8,809
Net pension and post-retirement benefit (gains)/losses reclassified to earnings	$	(607	)	$	—		$	(607	)
Net deferred (losses)/gains on derivatives from periodic revaluations	$	(14,597	)	$	22		$	(14,575	)
Net deferred (gains)/losses on derivatives reclassified to earnings	$	(1,748	)	$	28		$	(1,720	)

	H. J. Heinz Corporation II			Noncontrolling Interest			Total
	(In thousands)
Predecessor
December 24, 2012 - June 7, 2013
Net pension and post-retirement benefit (losses)/gains	$	75,526		$	—		$	75,526
Net pension and post-retirement benefit (gains)/losses reclassified to earnings	$	11,191		$	—		$	11,191
Net deferred (losses)/gains on derivatives from periodic revaluations	$	13,484		$	(13	)	$	13,471
Net deferred losses on derivatives reclassified to earnings	$	22,118		$	1		$	22,119
Successor
February 8 - September 22, 2013
Net change in fair value of net investment hedges	$	—		$	—		$	—
Net pension and post-retirement benefit (losses)/gains	$	—		$	—		$	—
Net pension and post-retirement benefit (gains)/losses reclassified to earnings	$	—		$	—		$	—
Net deferred (losses)/gains on derivatives from periodic revaluations	$	(55,735	)	$	(95	)	$	(55,830	)
Net deferred gains on derivatives reclassified to earnings	$	(288	)	$	(13	)	$	(301	)
December 30, 2013 - September 28, 2014
Net deferred gains on net investment hedges from periodic revaluations	$	(67,235	)	$	—		$	(67,235	)
Net pension and post-retirement benefit (losses)/gains	$	15,780		$	—		$	15,780
Net pension and post-retirement benefit (gains)/losses reclassified to earnings	$	(1,813	)	$	—		$	(1,813	)
Net deferred (losses)/gains on derivatives from periodic revaluations	$	64,099		$	141		$	64,240
Net deferred gains on derivatives reclassified to earnings	$	(6,911	)	$	(6	)	$	(6,917	)

Schedule of Accumulated Other Comprehensive Income (Loss)

The following table provides a summary of the changes in the carrying amount of accumulated other comprehensive (loss)/income, net of tax, by component attributable to H. J. Heinz Corporation II:

	Foreign currency translation adjustments			Net pension and post retirement benefit			Net cash flow hedges			Total
Successor	(In thousands)
Balance as of December 29, 2013	$	22,548		$	102,464		$	107,998		$	233,010
Foreign currency translation adjustments	(416,748		)	—			—			(416,748		)
Net deferred gains on net investment hedges from periodic revaluations	108,541			—			—			108,541
Net pension and post-retirement benefit (losses)/gains	—			(53,366		)	—			(53,366		)
Net pension and post-retirement benefit (gains)/losses reclassified to earnings	—			(2,965		)	—			(2,965		)
Net deferred losses on derivatives from periodic revaluations	—			—			(135,800		)	(135,800		)
Net deferred (gains)/losses on derivatives reclassified to earnings	—			—			(176		)	(176		)
Net current-period other comprehensive loss	$	(308,207	)	$	(56,331	)	$	(135,976	)	$	(500,514	)
Balance as of September 28, 2014	$	(285,659	)	$	46,133		$	(27,978	)	$	(267,504	)

Schedule of Amounts Recognized in Other Comprehensive Income (Loss)

The following table presents the affected earnings line for reclassifications out of accumulated other comprehensive income/(loss), net of tax, by component attributable to H. J. Heinz Corporation II for the third quarters and nine months ended September 28, 2014 and September 22, 2013:

Accumulated other comprehensive income/(loss) component	Reclassified from accumulated other comprehensive income/(loss) to earnings						Line affected by reclassification
	(In thousands)
	Successor
	June 30 - September 28, 2014			June 24 - September 22, 2013
Gains/(losses) on cash flow hedges:
Foreign exchange contracts	$	(624	)	$	125		Sales
Foreign exchange contracts	(1,558		)	650			Cost of products sold
Foreign exchange contracts	—			(19		)	Selling, general, and administrative expenses
Foreign exchange contracts	148			672			Other expense
Foreign exchange contracts	—			—			Interest expense
Interest rate contracts	—			40			Interest expense
Cross-currency interest rate swap contracts	—			—			Other expense
Cross-currency interest rate swap contracts	—			—			Interest expense
	$	(2,034	)	$	1,468		Gains/(losses) from continuing operations before income tax
	(1,748		)	(288		)	Provision for income taxes
	$	(3,782	)	$	1,180		Gains/(losses) from continuing operations
Gains/(losses) on pension and post retirement benefit:
Amortization of unrecognized gain/(loss)	$	16		$	—		(a)
Prior service credit/(cost)	1,577			—			(a)
Settlement loss	—			—			(a)
	$	1,593		$	—		Gains/(losses) from continuing operations before income tax
	(607		)	—			Provision for income taxes
	$	986		$	—		Gains/(losses) from continuing operations

______________________________________

(a) As these components are included in the computation of net periodic pension and post-retirement benefit costs refer to Note 10 for further details.

Accumulated other comprehensive income/(loss) component	Reclassified from accumulated other comprehensive income/(loss) to earnings									Line affected by reclassification
	(In thousands)
	Successor						Predecessor
	December 30, 2013 - September 28, 2014			February 8 - September 22, 2013			December 24, 2012 - June 7, 2013
Gains/(losses) on cash flow hedges:
Foreign exchange contracts	$	(967	)	$	125		$	4,836		Sales
Foreign exchange contracts	7,207			650			4,695			Cost of products sold
Foreign exchange contracts	(125		)	(19		)	—			Selling, general, and administrative expenses
Foreign exchange contracts	966			672			9,761			Other expense
Foreign exchange contracts	6			—			230			Interest expense
Interest rate contracts	—			40			(98		)	Interest expense
Cross-currency interest rate swap contracts	—			—			(52,447		)	Other expense
Cross-currency interest rate swap contracts	—			—			(11,765		)	Interest expense
	$	7,087		$	1,468		$	(44,788	)	Gains/(losses) from continuing operations before income tax
	(6,911		)	(288		)	22,118			Provision for income taxes
	$	176		$	1,180		$	(22,670	)	Gains/(losses) from continuing operations
Gains/(losses) on pension and post retirement benefit:
Amortization of unrecognized gains/(losses)	$	47		$	—		$	(36,582	)	(a)
Prior service credit/(cost)	4,731			—			1,659			(a)
Settlement loss	—			—			(3,176		)	(a)
	$	4,778		$	—		$	(38,099	)	Gains/(losses) from continuing operations before income tax
	(1,813		)	—			11,191			Provision for income taxes
	$	2,965		$	—		$	(26,908	)	Gains/(losses) from continuing operations

______________________________________

(a) As these components are included in the computation of net periodic pension and post-retirement benefit costs refer to Note 10 for further details.

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Segments

9 Months Ended

Sep. 28, 2014

Segment Reporting [Abstract]

Segments

Segments

Due to the acquisition that occurred on June 7, 2013 (see Note 2) the Company's internal reporting entered a transition period that lasted through the end of December 2013. During this transition period most members of the senior management team were replaced by new management.

In the first quarter of 2014, the Company transitioned to new segments, which are aligned to the new organizational structure implemented during the transition period. These new segments reflect how senior management runs the business and the internal management reporting used for decision-making.

The Company has five reportable segments which are defined by geographic region including: North America, Europe, Asia/Pacific, Latin America and Russia, India, Middle East and Africa ("RIMEA"). The Company has reclassified the segment data for the prior period to conform to the current period’s presentation.

Descriptions of the Company’s reportable segments are as follows:

North America—This segment includes our U.S. consumer products business which manufactures, markets and sells ketchup, condiments, sauces, pasta meals, frozen potatoes, entrées, snacks, and appetizers to the grocery channels and our U.S. foodservice business which manufactures, markets and sells branded and customized products to commercial and non-commercial food outlets and distributors in the United States of America. The North America segment also includes our business in Canada.

Europe—This segment includes the Company’s operations in Europe (excluding Russia) and sells products in all of the Company’s categories.

Asia/Pacific—This segment includes the Company’s operations in Australia, New Zealand, Japan, China, Papua New Guinea, South Korea, Indonesia, Vietnam and Singapore. This segment sells products in all of the Company's categories.

Latin America—This segment includes the Company’s operations in Brazil, Venezuela, Mexico, Costa Rica, and Panama that sell products in all of the Company’s categories.

RIMEA—This segment includes the Company’s operations in Russia, India, the Middle East and Africa that sell products in all of the Company’s categories.

The Company’s management evaluates performance based on several factors including net sales and Adjusted Earnings Before Interest, Tax, Depreciation and Amortization ("Adjusted EBITDA"). Inter-segment revenues, items below the operating income line of the condensed consolidated statements of operations and certain costs associated with Restructuring and Productivity Initiatives (see Note 5) and Merger related costs, are not presented by segment, since they are not reflected in the measure of segment profitability reviewed by the Company’s management.

The following tables present information about the Company’s reportable segments:

	Successor
	June 30 - September 28, 2014			June 24 - September 22, 2013
	(In thousands)
Net external sales:
North America	$	982,162		$	1,049,205
Europe	695,991			693,632
Asia/Pacific	475,674			532,185
Latin America	265,889			211,709
RIMEA	174,169			159,846
Consolidated Totals	$	2,593,885		$	2,646,577
Segment Adjusted EBITDA:
North America	$	281,313		$	261,238
Europe	205,408			143,656
Asia/Pacific	78,097			67,914
Latin America	69,566			29,988
RIMEA	29,132			19,551
Non-Operating	(17,067		)	(25,383		)
Adjusted EBITDA	646,449			496,964
Amortization of inventory step-up	—			259,195
Severance related costs(a)	29,059			64,915
Other restructuring costs(a)	10,617			2,444
Asset write-offs(a)	38,429			—
Other special items(b)	59,987			(10,937		)
Merger related costs(c)	—			97,798
Depreciation, including accelerated depreciation for restructuring	70,571			72,272
Amortization	24,681			20,771
Interest expense, net	157,469			160,911
Stock based compensation	3,978			—
Other expense, net	37,450			9,819
Income/(loss) from continuing operations before income tax	$	214,208		$	(180,224	)

______________________________________

(a) See Note 5 for further details on restructuring and productivity initiatives.

(b) Includes incremental costs primarily for additional warehousing and other logistics costs incurred related to the U.S. SAP go-live, which was launched in the second quarter of 2014, along with equipment relocation charges, severance and consulting and advisory charges not specifically related to restructuring activities and other items that management believes do not directly reflect our core operations.

(c) See Note 2 for further details on Merger related costs.

	Successor						Predecessor
	December 30, 2013 - September 28, 2014			February 8 - September 22, 2013			December 24, 2012 - June 7, 2013
	(In thousands)
Net external sales:
North America	$	3,116,979		$	1,222,895		$	2,090,049
Europe	2,224,828			815,483			1,365,438
Asia/Pacific	1,551,039			652,785			1,023,379
Latin America	664,875			250,948			389,561
RIMEA	564,760			207,892			335,271
Consolidated Totals	$	8,122,481		$	3,150,003		$	5,203,698
Segment Adjusted EBITDA:
North America	$	936,681		$	294,634		$	516,633
Europe	657,131			170,176			291,990
Asia/Pacific	258,078			84,372			137,292
Latin America	131,942			34,563			38,464
RIMEA	102,545			27,146			48,114
Non-Operating	(58,317		)	(29,459		)	(86,184		)
Adjusted EBITDA	2,028,060			581,432			946,309
Amortization of inventory step-up	—			383,300			—
Severance related costs(a)	112,756			67,500			1,866
Other restructuring costs(a)	48,985			2,444			3,659
Asset write-offs(a)	48,718			—			—
Other special items(b)	106,029			(11,445		)	(11,908		)
Merger related costs(c)	—			153,791			157,002
Unrealized gain on derivative instruments	—			(117,934		)	—
Loss from extinguishment of debt	—			—			129,367
Foodstar earn-out(d)	—			—			12,081
Depreciation, including accelerated depreciation for restructuring	354,298			85,110			143,516
Amortization	74,324			22,256			21,044
Stock based compensation	6,162			—			18,520
Interest expense, net	481,936			219,970			120,200
Other expense, net	101,241			8,928			49,446
Impairment loss on indefinite-lived trademarks(e)	61,774			—			—
Income/(loss) from continuing operations before income tax	$	631,837		$	(232,488	)	$	301,516

______________________________________

(a) See Note 5 for further details on restructuring and productivity initiatives.

(b) Includes incremental costs primarily for additional warehousing and other logistics costs incurred related to the U.S. SAP go-live, which was launched in the second quarter of 2014, along with equipment relocation charges, severance and consulting and advisory charges not specifically related to restructuring activities and other items that management believes do not directly reflect our core operations.

(c) See Note 2 for further details on Merger related costs.

(d) The Company renegotiated the terms of the Foodstar Holdings Pte earn-out resulting in a $12.1 million charge to SG&A in January 2013.

(e) See Note 7 for further details on the impairment loss on indefinite-lived trademarks.

The Company’s revenues are generated via the sale of products in the following categories:

	Successor
	June 30 - September 28, 2014		June 24 - September 22, 2013
	(In thousands)
Ketchup and Sauces	$	1,344,804	$	1,319,400
Meals and Snacks	887,417		932,927
Infant/Nutrition	273,018		280,141
Other	88,646		114,109
Total	$	2,593,885	$	2,646,577

	Successor				Predecessor
	December 30, 2013 - September 28, 2014		February 8 - September 22, 2013		December 24, 2012 - June 7, 2013
	(In thousands)
Ketchup and Sauces	$	4,087,500	$	1,577,483	$	2,433,468
Meals and Snacks	2,737,328		1,089,553		1,863,421
Infant/Nutrition	859,368		333,784		546,873
Other	438,285		149,183		359,936
Total	$	8,122,481	$	3,150,003	$	5,203,698

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Changes in Equity (Tables)

9 Months Ended

Sep. 28, 2014

Equity [Abstract]

Summary of changes in carrying amounts of total equity

The following table provides a summary of the changes in the carrying amounts of total equity, H. J. Heinz Corporation II shareholder equity and equity attributable to the noncontrolling interest:

	Capital Stock			Additional Capital		Retained Earnings			Accumulated OCI			Noncontrolling Interest		Total
Successor	(In thousands)
Balance as of December 29, 2013	$	16,140,000		$	1,427	$	(77,021	)	$	233,010		$	215,842	$	16,513,258
Comprehensive income/(loss) (a)	—			—		493,537			(500,514		)	10,464		3,487
Dividends paid to shareholder	(123,484		)	—		(416,516		)	—			—		(540,000		)
Capital contribution (b)	—			4,361		—			—			—		4,361
Stock option expense	—			6,162		—			—			—		6,162
Balance at September 28, 2014	$	16,016,516		$	11,950	$	—		$	(267,504	)	$	226,306	$	15,987,268

______________________________________

(a) The allocation of the individual components of comprehensive income/(loss) attributable to H. J. Heinz Corporation II and the noncontrolling interest is disclosed in Note 11. Comprehensive income attributable to the redeemable noncontrolling interest is $1.4 million for the nine months ended September 28, 2014.

(b) Represents non cash capital contribution associated with the push down of shares issued by Parent to certain employees in conjunction with the Bonus Swap Program. See Note 9.

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Merger and Acquisition (Pro Forma Information) (Details) (H.J. Heinz Holding Corporation, USD $) In Thousands, unless otherwise specified	3 Months Ended	9 Months Ended
	Sep. 22, 2013	Sep. 22, 2013
H.J. Heinz Holding Corporation
Business Acquisition [Line Items]
Revenue	$ 2,646,577	$ 8,353,701
Income from continuing operations attributable to H. J. Heinz Corporation II	$ 241,366	$ 464,840

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Debt (Details) (USD $)			9 Months Ended
	Sep. 28, 2014	Dec. 29, 2013	Sep. 28, 2014 Senior Credit Facilities	Sep. 28, 2014 Successor	Dec. 29, 2013 Successor	Sep. 28, 2014 Successor $2.95 billion Term B-1 Loan	Dec. 29, 2013 Successor $2.95 billion Term B-1 Loan	Sep. 28, 2014 Successor $6.55 billion Term B-2 Loan	Dec. 29, 2013 Successor $6.55 billion Term B-2 Loan	Sep. 28, 2014 Successor $3.10 billion 4.25% Second Lien Senior Secured Notes due 2020	Dec. 29, 2013 Successor $3.10 billion 4.25% Second Lien Senior Secured Notes due 2020	Sep. 28, 2014 Successor Other U.S. Dollar Debt due May 2013 — November 2034 (0.94%—7.96%)	Dec. 29, 2013 Successor Other U.S. Dollar Debt due May 2013 — November 2034 (0.94%—7.96%)	Sep. 28, 2014 Successor Other Non-U.S. Dollar Debt due May 2013 — May 2023 (3.50%—11.00%)	Dec. 29, 2013 Successor Other Non-U.S. Dollar Debt due May 2013 — May 2023 (3.50%—11.00%)	Sep. 28, 2014 Successor 2.00% U.S. Dollar Notes due September 2016	Dec. 29, 2013 Successor 2.00% U.S. Dollar Notes due September 2016	Sep. 28, 2014 Successor 1.50% U.S. Dollar Notes due March 2017	Dec. 29, 2013 Successor 1.50% U.S. Dollar Notes due March 2017	Sep. 28, 2014 Successor 3.125% U.S. Dollar Notes due September 2021	Dec. 29, 2013 Successor 3.125% U.S. Dollar Notes due September 2021	Sep. 28, 2014 Successor 2.85% U.S. Dollar Notes due March 2022	Dec. 29, 2013 Successor 2.85% U.S. Dollar Notes due March 2022	Sep. 28, 2014 Successor $235 million 6.375% U.S. Dollar Debentures due July 2028	Dec. 29, 2013 Successor $235 million 6.375% U.S. Dollar Debentures due July 2028	Sep. 28, 2014 Successor £125 million 6.25% British Pound Notes due February 2030	Dec. 29, 2013 Successor £125 million 6.25% British Pound Notes due February 2030	Sep. 28, 2014 Successor $437 million 6.75% U.S. Dollar Notes due March 2032	Dec. 29, 2013 Successor $437 million 6.75% U.S. Dollar Notes due March 2032	Sep. 28, 2014 Successor $931 million 7.125% U.S. Dollar Notes due August 2039	Dec. 29, 2013 Successor $931 million 7.125% U.S. Dollar Notes due August 2039	Sep. 28, 2014 Minimum Successor Other U.S. Dollar Debt due May 2013 — November 2034 (0.94%—7.96%)	Sep. 28, 2014 Minimum Successor Other Non-U.S. Dollar Debt due May 2013 — May 2023 (3.50%—11.00%)	Sep. 28, 2014 Maximum Successor Other U.S. Dollar Debt due May 2013 — November 2034 (0.94%—7.96%)	Sep. 28, 2014 Maximum Successor Other Non-U.S. Dollar Debt due May 2013 — May 2023 (3.50%—11.00%)
Debt Instrument [Line Items]
Total Long-term debt				$ 14,638,968,000	$ 14,725,411,000	$ 2,908,932,000	$ 2,929,213,000	$ 6,471,153,000	$ 6,518,524,000	$ 3,100,000,000	$ 3,100,000,000	$ 9,891,000	$ 10,774,000	$ 61,812,000	$ 70,411,000	$ 58,308,000	$ 58,308,000	$ 17,742,000	$ 17,743,000	$ 34,433,000	$ 34,433,000	$ 5,599,000	$ 5,599,000	$ 256,902,000	$ 258,075,000	$ 214,845,000	$ 218,507,000	$ 475,281,000	$ 476,943,000	$ 1,024,070,000	$ 1,026,881,000
Less portion due within one year	(108,538,000)	(107,765,000)		(108,538,000)	(107,765,000)
Long-term debt	14,530,430,000	14,617,646,000		14,530,430,000	14,617,646,000
Long-term Debt, Weighted Average Interest Rate				4.02%	4.01%
Debt issuance costs			$ 255,100,000
Stated interest rate										4.25%						2.00%		1.50%		3.125%		2.85%		6.375%		6.25%		6.75%		7.125%		0.94%	3.50%	7.96%	11.00%

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Consolidated Statements of Income (USD $) In Thousands, unless otherwise specified	3 Months Ended				7 Months Ended	9 Months Ended		6 Months Ended
	Sep. 28, 2014 Successor		Sep. 22, 2013 Successor		Sep. 22, 2013 Successor	Sep. 28, 2014 Successor		Jun. 07, 2013 Predecessor
Sales	$ 2,593,885		$ 2,646,577		$ 3,150,003	$ 8,122,481		$ 5,203,698
Cost of products sold	1,677,862		1,986,414		2,437,138	5,368,258		3,316,896
Gross profit	916,023		660,163		712,865	2,754,223		1,886,802
Selling, general and administrative expenses	506,896		571,859		680,598	1,539,209		1,125,466
Merger related costs	0	[1]	97,798	[1]	153,791	0	[1]	157,002	[1]
Operating (loss)/income	409,127		(9,494)		(121,524)	1,215,014		604,334
Interest income	9,198		6,250		7,260	21,665		10,213
Interest expense	166,667		167,161		227,230	503,601		130,413
Unrealized gain on derivative instruments	0		0		117,934	0		0
Other expense, net	(37,450)		(9,819)		(8,928)	(101,241)		(182,618)
(Loss)/income from continuing operations before income taxes	214,208		(180,224)		(232,488)	631,837		301,516
(Benefit from)/provision for income taxes	40,227		(175,729)		(186,856)	124,851		160,166
Income/(loss) from continuing operations	173,981		(4,495)		(45,632)	506,986		141,350
Loss from discontinued operations, net of tax	0		(4,909)		(4,909)	0		(39,663)
Net (loss)/income	173,981		(9,404)		(50,541)	506,986		101,687
Net income/(loss)	171,618		(11,767)		(52,911)	493,537		95,002
Amounts attributable to the H.J. Heinz Company shareholders:
(Loss)/income from continuing operations, net of tax	171,618		(6,858)		(48,002)	493,537		134,665
Loss from discontinued operations, net of tax	0		(4,909)		(4,909)	0		(39,663)
Net income/(loss)	$ 171,618		$ (11,767)		$ (52,911)	$ 493,537		$ 95,002

[1] See Note 2 for further details on Merger related costs.

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Goodwill and Other Intangible Assets (Details) (USD $)	9 Months Ended
	Sep. 28, 2014	Dec. 29, 2013
Goodwill [Line Items]
Finite-lived intangible assets, remaining amortization period	5 years
Goodwill [Roll Forward]
Goodwill, Beginning Balance	$ 15,070,062,000
Purchase accounting adjustments	249,900,000
Goodwill, Ending Balance	15,167,591,000
Successor
Goodwill [Roll Forward]
Goodwill, Beginning Balance	15,070,062,000
Purchase accounting adjustments	249,913,000
Translation adjustments	(152,384,000)
Goodwill, Ending Balance	15,167,591,000
Successor | North American Consumer Products
Goodwill [Roll Forward]
Goodwill, Beginning Balance	9,853,578,000
Purchase accounting adjustments	215,034,000
Translation adjustments	(45,770,000)
Goodwill, Ending Balance	10,022,842,000
Successor | Europe
Goodwill [Roll Forward]
Goodwill, Beginning Balance	3,704,658,000
Purchase accounting adjustments	(56,853,000)
Translation adjustments	(85,294,000)
Goodwill, Ending Balance	3,562,511,000
Successor | Asia/Pacific
Goodwill [Roll Forward]
Goodwill, Beginning Balance	1,026,979,000
Purchase accounting adjustments	46,293,000
Translation adjustments	(11,231,000)
Goodwill, Ending Balance	1,062,041,000
Successor | Latin America
Goodwill [Roll Forward]
Goodwill, Beginning Balance	210,916,000
Purchase accounting adjustments	48,738,000
Translation adjustments	(11,091,000)
Goodwill, Ending Balance	248,563,000
Successor | RIMEA
Goodwill [Roll Forward]
Goodwill, Beginning Balance	273,931,000
Purchase accounting adjustments	(3,299,000)
Translation adjustments	1,002,000
Goodwill, Ending Balance	271,634,000
Goodwill Carrying Amount Revision | Successor | North American Consumer Products
Goodwill [Roll Forward]
Purchase accounting adjustments	96,000,000
Goodwill Carrying Amount Revision | Successor | Europe
Goodwill [Roll Forward]
Purchase accounting adjustments	(143,000,000)
Opening balance adjustment		5,000,000
Goodwill Carrying Amount Revision | Successor | Asia/Pacific
Goodwill [Roll Forward]
Purchase accounting adjustments	29,000,000
Opening balance adjustment		21,000,000
Goodwill Carrying Amount Revision | Successor | Latin America
Goodwill [Roll Forward]
Purchase accounting adjustments	44,000,000
Goodwill Carrying Amount Revision | Successor | RIMEA
Goodwill [Roll Forward]
Purchase accounting adjustments	(26,000,000)
Opening balance adjustment		$ 26,000,000

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Basis of Presentation

9 Months Ended

Sep. 28, 2014

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Presentation

Basis of Presentation

Organization

On August 1, 2014, the Company's Board of Directors approved a change to the Company's name from Hawk Acquisition Intermediate Corporation II to H. J. Heinz Corporation II.

On June 7, 2013, H. J. Heinz Company ("Heinz") was acquired by H. J. Heinz Holding Corporation (formerly known as Hawk Acquisition Holding Corporation) (“Parent”), a Delaware corporation controlled by Berkshire Hathaway Inc. (“Berkshire Hathaway”) and 3G Special Situations Fund III, L.P. (“3G Capital,” and together with Berkshire Hathaway, the “Sponsors”), pursuant to the Agreement and Plan of Merger, dated February 13, 2013 (the “Merger Agreement”), as amended by the Amendment to Agreement and Plan of Merger, dated March 4, 2013 (the “Amendment”), by and among Heinz, Parent and Hawk Acquisition Sub, Inc., a Pennsylvania corporation and an indirect wholly owned subsidiary of Parent (“Merger Subsidiary”), in a transaction hereinafter referred to as the “Merger.” As a result of the Merger, Merger Subsidiary merged with and into Heinz, with Heinz surviving as a wholly owned subsidiary of H. J. Heinz Corporation II (formerly Hawk Acquisition Intermediate Corporation II) ("Holdings"), which in turn is an indirect wholly owned subsidiary of Parent. See Note 2 "Merger and Acquisition" for further information on the Merger.

Unless the context otherwise requires, the terms "we," "us," "our" and the "Company" refer, collectively, to Holdings, Heinz, and its subsidiaries.

The Company filed a Registration Statement on Form S-4 ("Registration Statement") for an exchange offer for the outstanding 4.25% Second Lien Senior Secured Notes due 2020, in the aggregate principal amount of $3.1 billion ("Exchange Notes"), which became effective May 7, 2014. The Exchange Notes are guaranteed fully and unconditionally, and jointly and severally, on a senior secured basis, subject to certain customary release provisions by Parent, Holdings and most of the Company's domestic subsidiaries, which guarantee our obligations under the Senior Credit Facilities (see Notes 13 and 18). As a result of the Registration Statement becoming effective on May 7, 2014, Holdings became the registrant within which Heinz is consolidated. Holdings has no operations and its Balance Sheet is comprised solely of its investment in Heinz and share capital owned by its parent, Hawk Acquisition Intermediate Corporation I.

Basis of Presentation

The Merger was accounted for as a business combination using the acquisition method of accounting in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification 805, Business Combinations. The Sponsors' cost of acquiring Heinz has been pushed down to establish a new accounting basis for the Company. Accordingly, the interim condensed consolidated financial statements are presented for two periods, Predecessor and Successor, which relate to the accounting periods preceding and succeeding the completion of the Merger. The Predecessor and Successor periods have been separated by a vertical line on the face of the condensed consolidated financial statements to highlight the fact that the financial information for such periods has been prepared under two different historical-cost bases of accounting. The accompanying prior year condensed consolidated statement of operations has been revised to conform to the current year presentation and to correctly classify amortization of debt issue costs in interest expense resulting in an increase in interest expense and a corresponding decrease in other expense, net in the amount of $12.3 million for the quarter ended September 22, 2013 and $14.8 million for the period from February 8, 2013 to September 22, 2013.

Successor - the condensed consolidated financial statements as of September 28, 2014, and for the period from February 8, 2013 through September 28, 2014. The accounts of Merger Subsidiary from inception on February 8, 2013 to the date of its merger into the Company on June 7, 2013 were included in the Successor period from June 8, 2013 to December 29, 2013 as presented in the Registration Statement on Form S-4 which became effective May 7, 2014. The activity in Merger Subsidiary for the period from February 8, 2013 to June 7, 2013 related primarily to the issuance of the Exchange Notes and recognition of associated issuance costs and interest expense. The cash from the Exchange Notes was invested in a money market account until the completion of the Merger on June 7, 2013.

Predecessor - the condensed consolidated financial statements of the Company prior to the Merger on June 7, 2013.

Change In Fiscal Year

On October 21, 2013, the Company's Board of Directors approved a change in the Company's fiscal year-end from the Sunday closest to April 30 to the Sunday closest to December 31. As a result of this change, the Company presented its Annual Report for the transition period beginning on April 29, 2013 and ending on December 29, 2013 in its Registration Statement. The Company's interim filings on Form 10-Q are now reported in accordance with the new fiscal year ending December 28, 2014.

The interim condensed consolidated financial statements of the Company are unaudited and have been prepared following the rules and regulations of the United States Securities and Exchange Commission ("SEC"). In the opinion of management, all adjustments, which are of a normal and recurring nature, except those which have been disclosed elsewhere in this Quarterly Report on Form 10-Q, necessary for a fair statement of the results of operations of these interim periods, have been included. The year-end condensed consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America.

The results for interim periods are not necessarily indicative of the results to be expected for the full fiscal year due in part to the seasonal nature of the Company's business. These statements should be read in conjunction with the Company's consolidated financial statements and related notes, and management's discussion and analysis of financial condition and results of operations as of and for the transition period ended December 29, 2013, which appear in the Company's Registration Statement on Form S-4 which became effective May 7, 2014.

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Derivative Financial Instruments and Hedging Activities (Consolidated Statement of Income) (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended	7 Months Ended	9 Months Ended	6 Months Ended	3 Months Ended		7 Months Ended	9 Months Ended	3 Months Ended	6 Months Ended	3 Months Ended		7 Months Ended	9 Months Ended	7 Months Ended			3 Months Ended		7 Months Ended	9 Months Ended	3 Months Ended		7 Months Ended	9 Months Ended	3 Months Ended		7 Months Ended	9 Months Ended	3 Months Ended		7 Months Ended	9 Months Ended	6 Months Ended				3 Months Ended		7 Months Ended	9 Months Ended	3 Months Ended		7 Months Ended	9 Months Ended	3 Months Ended		7 Months Ended	9 Months Ended	3 Months Ended		7 Months Ended	9 Months Ended	3 Months Ended		7 Months Ended	9 Months Ended	3 Months Ended				7 Months Ended	9 Months Ended	3 Months Ended		7 Months Ended	9 Months Ended	3 Months Ended		7 Months Ended	9 Months Ended	6 Months Ended							3 Months Ended	9 Months Ended	3 Months Ended		7 Months Ended	9 Months Ended	3 Months Ended		7 Months Ended	9 Months Ended	3 Months Ended		7 Months Ended	9 Months Ended	3 Months Ended		7 Months Ended	9 Months Ended	3 Months Ended		7 Months Ended	9 Months Ended	3 Months Ended				7 Months Ended	9 Months Ended	3 Months Ended		7 Months Ended	9 Months Ended	3 Months Ended		7 Months Ended	9 Months Ended	6 Months Ended							3 Months Ended		9 Months Ended	3 Months Ended	9 Months Ended	3 Months Ended		9 Months Ended	3 Months Ended		9 Months Ended	3 Months Ended		7 Months Ended	9 Months Ended	6 Months Ended					7 Months Ended	9 Months Ended	6 Months Ended	7 Months Ended	9 Months Ended	7 Months Ended	9 Months Ended	6 Months Ended
	Sep. 28, 2014	Sep. 22, 2013	Jun. 07, 2013	Sep. 22, 2013	Sep. 28, 2014	Jun. 07, 2013 Net Investment Hedging [Member]	Sep. 28, 2014 Successor	Sep. 22, 2013 Successor	Sep. 22, 2013 Successor	Sep. 28, 2014 Successor	Jun. 07, 2013 Predecessor	Jun. 07, 2013 Predecessor	Sep. 28, 2014 Foreign exchange contracts Successor	Sep. 22, 2013 Foreign exchange contracts Successor	Sep. 22, 2013 Foreign exchange contracts Successor	Sep. 28, 2014 Foreign exchange contracts Successor	Sep. 22, 2013 Foreign exchange contracts Successor Sales	Sep. 22, 2013 Foreign exchange contracts Successor Cost of Sales	Sep. 22, 2013 Foreign exchange contracts Successor Selling, General and Administrative Expenses	Sep. 28, 2014 Foreign exchange contracts Successor Other Expense	Sep. 22, 2013 Foreign exchange contracts Successor Other Expense	Sep. 22, 2013 Foreign exchange contracts Successor Other Expense	Sep. 28, 2014 Foreign exchange contracts Successor Other Expense	Sep. 28, 2014 Foreign exchange contracts Successor Interest Income	Sep. 22, 2013 Foreign exchange contracts Successor Interest Income	Sep. 22, 2013 Foreign exchange contracts Successor Interest Income	Sep. 28, 2014 Foreign exchange contracts Successor Interest Income	Sep. 28, 2014 Foreign exchange contracts Successor Cash Flow Hedging [Member]	Sep. 22, 2013 Foreign exchange contracts Successor Cash Flow Hedging [Member]	Sep. 22, 2013 Foreign exchange contracts Successor Cash Flow Hedging [Member]	Sep. 28, 2014 Foreign exchange contracts Successor Cash Flow Hedging [Member]	Sep. 28, 2014 Foreign exchange contracts Successor Net Investment Hedging [Member]	Sep. 22, 2013 Foreign exchange contracts Successor Net Investment Hedging [Member]	Sep. 22, 2013 Foreign exchange contracts Successor Net Investment Hedging [Member]	Sep. 28, 2014 Foreign exchange contracts Successor Net Investment Hedging [Member]	Jun. 07, 2013 Foreign exchange contracts Predecessor	Jun. 07, 2013 Foreign exchange contracts Predecessor Other Expense	Jun. 07, 2013 Foreign exchange contracts Predecessor Interest Income	Jun. 07, 2013 Foreign exchange contracts Predecessor Cash Flow Hedging [Member]	Sep. 28, 2014 Interest rate contracts Successor	Sep. 22, 2013 Interest rate contracts Successor	Sep. 22, 2013 Interest rate contracts Successor	Sep. 28, 2014 Interest rate contracts Successor	Sep. 28, 2014 Interest rate contracts Successor Sales	Sep. 22, 2013 Interest rate contracts Successor Sales	Sep. 22, 2013 Interest rate contracts Successor Sales	Sep. 28, 2014 Interest rate contracts Successor Sales	Sep. 28, 2014 Interest rate contracts Successor Cost of Sales	Sep. 22, 2013 Interest rate contracts Successor Cost of Sales	Sep. 22, 2013 Interest rate contracts Successor Cost of Sales	Sep. 28, 2014 Interest rate contracts Successor Cost of Sales	Sep. 28, 2014 Interest rate contracts Successor Selling, General and Administrative Expenses	Sep. 22, 2013 Interest rate contracts Successor Selling, General and Administrative Expenses	Sep. 22, 2013 Interest rate contracts Successor Selling, General and Administrative Expenses	Sep. 28, 2014 Interest rate contracts Successor Selling, General and Administrative Expenses	Sep. 28, 2014 Interest rate contracts Successor Other Expense	Sep. 22, 2013 Interest rate contracts Successor Other Expense	Sep. 22, 2013 Interest rate contracts Successor Other Expense	Sep. 28, 2014 Interest rate contracts Successor Other Expense	Sep. 28, 2014 Interest rate contracts Successor Interest Expense	Sep. 22, 2013 Interest rate contracts Successor Interest Expense	Sep. 28, 2014 Interest rate contracts Successor Interest Income	Sep. 22, 2013 Interest rate contracts Successor Interest Income	Sep. 22, 2013 Interest rate contracts Successor Interest Income	Sep. 28, 2014 Interest rate contracts Successor Interest Income	Sep. 28, 2014 Interest rate contracts Successor Cash Flow Hedging [Member]	Sep. 22, 2013 Interest rate contracts Successor Cash Flow Hedging [Member]	Sep. 22, 2013 Interest rate contracts Successor Cash Flow Hedging [Member]	Sep. 28, 2014 Interest rate contracts Successor Cash Flow Hedging [Member]	Sep. 28, 2014 Interest rate contracts Successor Net Investment Hedging [Member]	Sep. 22, 2013 Interest rate contracts Successor Net Investment Hedging [Member]	Sep. 22, 2013 Interest rate contracts Successor Net Investment Hedging [Member]	Sep. 28, 2014 Interest rate contracts Successor Net Investment Hedging [Member]	Jun. 07, 2013 Interest rate contracts Predecessor	Jun. 07, 2013 Interest rate contracts Predecessor Sales	Jun. 07, 2013 Interest rate contracts Predecessor Cost of Sales	Jun. 07, 2013 Interest rate contracts Predecessor Selling, General and Administrative Expenses	Jun. 07, 2013 Interest rate contracts Predecessor Other Expense	Jun. 07, 2013 Interest rate contracts Predecessor Interest Income	Jun. 07, 2013 Interest rate contracts Predecessor Cash Flow Hedging [Member]	Sep. 28, 2014 Cross-currency interest rate swap contracts Other Expense	Sep. 28, 2014 Cross-currency interest rate swap contracts Other Expense	Sep. 28, 2014 Cross-currency interest rate swap contracts Successor	Sep. 22, 2013 Cross-currency interest rate swap contracts Successor	Sep. 22, 2013 Cross-currency interest rate swap contracts Successor	Sep. 28, 2014 Cross-currency interest rate swap contracts Successor	Sep. 28, 2014 Cross-currency interest rate swap contracts Successor Sales	Sep. 22, 2013 Cross-currency interest rate swap contracts Successor Sales	Sep. 22, 2013 Cross-currency interest rate swap contracts Successor Sales	Sep. 28, 2014 Cross-currency interest rate swap contracts Successor Sales	Sep. 28, 2014 Cross-currency interest rate swap contracts Successor Cost of Sales	Sep. 22, 2013 Cross-currency interest rate swap contracts Successor Cost of Sales	Sep. 22, 2013 Cross-currency interest rate swap contracts Successor Cost of Sales	Sep. 28, 2014 Cross-currency interest rate swap contracts Successor Cost of Sales	Sep. 28, 2014 Cross-currency interest rate swap contracts Successor Selling, General and Administrative Expenses	Sep. 22, 2013 Cross-currency interest rate swap contracts Successor Selling, General and Administrative Expenses	Sep. 22, 2013 Cross-currency interest rate swap contracts Successor Selling, General and Administrative Expenses	Sep. 28, 2014 Cross-currency interest rate swap contracts Successor Selling, General and Administrative Expenses	Sep. 28, 2014 Cross-currency interest rate swap contracts Successor Other Expense	Sep. 22, 2013 Cross-currency interest rate swap contracts Successor Other Expense	Sep. 22, 2013 Cross-currency interest rate swap contracts Successor Other Expense	Sep. 28, 2014 Cross-currency interest rate swap contracts Successor Other Expense	Sep. 28, 2014 Cross-currency interest rate swap contracts Successor Interest Expense	Sep. 22, 2013 Cross-currency interest rate swap contracts Successor Interest Expense	Sep. 28, 2014 Cross-currency interest rate swap contracts Successor Interest Income	Sep. 22, 2013 Cross-currency interest rate swap contracts Successor Interest Income	Sep. 22, 2013 Cross-currency interest rate swap contracts Successor Interest Income	Sep. 28, 2014 Cross-currency interest rate swap contracts Successor Interest Income	Sep. 28, 2014 Cross-currency interest rate swap contracts Successor Cash Flow Hedging [Member]	Sep. 22, 2013 Cross-currency interest rate swap contracts Successor Cash Flow Hedging [Member]	Sep. 22, 2013 Cross-currency interest rate swap contracts Successor Cash Flow Hedging [Member]	Sep. 28, 2014 Cross-currency interest rate swap contracts Successor Cash Flow Hedging [Member]	Sep. 28, 2014 Cross-currency interest rate swap contracts Successor Net Investment Hedging [Member]	Sep. 22, 2013 Cross-currency interest rate swap contracts Successor Net Investment Hedging [Member]	Sep. 22, 2013 Cross-currency interest rate swap contracts Successor Net Investment Hedging [Member]	Sep. 28, 2014 Cross-currency interest rate swap contracts Successor Net Investment Hedging [Member]	Jun. 07, 2013 Cross-currency interest rate swap contracts Predecessor	Jun. 07, 2013 Cross-currency interest rate swap contracts Predecessor Sales	Jun. 07, 2013 Cross-currency interest rate swap contracts Predecessor Cost of Sales	Jun. 07, 2013 Cross-currency interest rate swap contracts Predecessor Selling, General and Administrative Expenses	Jun. 07, 2013 Cross-currency interest rate swap contracts Predecessor Other Expense	Jun. 07, 2013 Cross-currency interest rate swap contracts Predecessor Interest Income	Jun. 07, 2013 Cross-currency interest rate swap contracts Predecessor Cash Flow Hedging [Member]	Sep. 28, 2014 Net cash flow hedges Foreign exchange contracts Successor Sales	Sep. 22, 2013 Net cash flow hedges Foreign exchange contracts Successor Sales	Sep. 28, 2014 Net cash flow hedges Foreign exchange contracts Successor Sales	Sep. 28, 2014 Net cash flow hedges Foreign exchange contracts Successor Cost of Sales	Sep. 28, 2014 Net cash flow hedges Foreign exchange contracts Successor Cost of Sales	Sep. 28, 2014 Net cash flow hedges Foreign exchange contracts Successor Selling, General and Administrative Expenses	Sep. 22, 2013 Net cash flow hedges Foreign exchange contracts Successor Selling, General and Administrative Expenses	Sep. 28, 2014 Net cash flow hedges Foreign exchange contracts Successor Selling, General and Administrative Expenses	Sep. 28, 2014 Net cash flow hedges Foreign exchange contracts Successor Other Expense	Sep. 22, 2013 Net cash flow hedges Foreign exchange contracts Successor Other Expense	Sep. 28, 2014 Net cash flow hedges Foreign exchange contracts Successor Other Expense	Sep. 28, 2014 Net cash flow hedges Foreign exchange contracts Successor Interest Expense	Sep. 22, 2013 Net cash flow hedges Foreign exchange contracts Successor Interest Expense	Sep. 22, 2013 Net cash flow hedges Foreign exchange contracts Successor Interest Expense	Sep. 28, 2014 Net cash flow hedges Foreign exchange contracts Successor Interest Expense	Jun. 07, 2013 Net cash flow hedges Foreign exchange contracts Predecessor Sales	Jun. 07, 2013 Net cash flow hedges Foreign exchange contracts Predecessor Cost of Sales	Jun. 07, 2013 Net cash flow hedges Foreign exchange contracts Predecessor Selling, General and Administrative Expenses	Jun. 07, 2013 Net cash flow hedges Foreign exchange contracts Predecessor Other Expense	Jun. 07, 2013 Net cash flow hedges Foreign exchange contracts Predecessor Interest Expense	Sep. 22, 2013 Net cash flow hedges Interest rate contracts Successor Interest Expense	Sep. 28, 2014 Net cash flow hedges Interest rate contracts Successor Interest Expense	Jun. 07, 2013 Net cash flow hedges Interest rate contracts Predecessor Interest Expense	Sep. 22, 2013 Net cash flow hedges Cross-currency interest rate swap contracts Successor Other Expense	Sep. 28, 2014 Net cash flow hedges Cross-currency interest rate swap contracts Successor Other Expense	Sep. 22, 2013 Net cash flow hedges Cross-currency interest rate swap contracts Successor Interest Expense	Sep. 28, 2014 Net cash flow hedges Cross-currency interest rate swap contracts Successor Interest Expense	Jun. 07, 2013 Net cash flow hedges Cross-currency interest rate swap contracts Predecessor Other Expense	Jun. 07, 2013 Net cash flow hedges Cross-currency interest rate swap contracts Predecessor Interest Expense
Cash flow hedges:
Net gains recognized in other comprehensive loss (effective portion)						$ 0							$ 7,836	$ 10,315	$ 17,881	$ (22,017)												$ 7,836	$ 10,315	$ 17,881	$ (22,017)	$ 0	$ 0	$ 0	$ 0	$ 39,351			$ 39,351	$ 29,925	$ (13,201)	$ 141,547	$ (177,882)																							$ 29,925	$ (13,201)	$ 141,547	$ (177,882)	$ 0	$ 0	$ 0	$ 0	$ 0						$ 0			$ 434,616	$ 0	$ 0	$ 175,776																							$ 0	$ 0	$ 0	$ 0	$ 434,616	$ 0	$ 0	$ 175,776	$ (57,558)						$ (57,558)
Net gains/(losses) reclassified from other comprehensive loss into earnings (effective portion):
Sales																	125																											0	0	0	0																												0												0	0	0	0																												0						(624)	125	(967)													4,836
Cost of products sold	(1,677,862)	(1,986,414)	(3,316,896)	(2,437,138)	(5,368,258)		(1,677,862)	(1,986,414)	(2,437,138)	(5,368,258)		(3,316,896)		650				650																														0	0	0	0																									0															0	0	0	0																									0								(1,558)	7,207												4,695
Selling, general and administrative expenses																			19																																	0	0	0	0																						0																		0	0	0	0																						0									0	19	125										0
Other (expense)/income, net																						672																																		0	0	0	0																			0																					0	0																																148	672	966								9,761					0	0			(52,447)
Interest income/(expense)	(157,469)	(160,911)	(120,200)	(219,970)	(481,936)		(166,667)	(167,161)	(227,230)	(503,601)		(130,413)																																																0	40																																										0	0																															0	0	0	6					230	40	0	(98)			0	0		(11,765)
Net (loss)/income	173,981	(9,404)	101,687	(50,541)	506,986		173,981	(9,404)	(50,541)	506,986		101,687	(2,034)	1,428	1,428	7,087																				19,522				0	40	40	0																															(98)									0	0	0	0																															(64,212)
Fair value hedges:
Net losses recognized in other expense, net																				0	0	0	0														0				0															0		(180)	0																			(8,065)																					0	0	0	0																			0
Derivatives not designated as hedging instruments:
Unrealized gain on derivative instruments							0	0	117,934	0	0	0								0	0	0	0														0				0															0		117,934	0																			0																					0	0	0	0																			0
Net gains/(losses) recognized in other expense, net													99,411	36,353	36,434	98,815				99,411	36,353	36,434	98,815	0	0	0	0									(2,922)	(2,922)	0		0	0	117,934	0													0	0	0	0			0	0	0	0									(10,512)				0	(10,512)				0	0	0	0													0	0	0	0			0	0	0	0									0				0	0
Total amount recognized in statement of income													$ 97,377	$ 37,781	$ 37,862	$ 105,902																				$ 16,600				$ 0	$ 40	$ 117,794	$ 0																															$ (18,675)							$ 2,700	$ 18,000	$ 0	$ 0	$ 0	$ 0																															$ (64,212)

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Derivative Financial Instruments and Hedging Activities (Tables)

9 Months Ended

Sep. 28, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair values and corresponding balance sheet captions of the Company's derivative instruments

The following table presents the fair values and corresponding balance sheet captions of the Company’s derivative instruments as of September 28, 2014 and December 29, 2013:

	September 28, 2014						December 29, 2013
	Foreign Exchange Contracts		Interest Rate Contracts		Cross-Currency Swap Contracts		Foreign Exchange Contracts		Interest Rate Contracts		Cross-Currency Swap Contracts
	(In thousands)
Assets:
Derivatives designated as hedging instruments:
Other receivables, net	$	24,828	$	—	$	—	$	37,072	$	—	$	—
Other non-current assets	2,905		87,508		79,563		4,129		265,390		31,303
	27,733		87,508		79,563		41,201		265,390		31,303
Derivatives not designated as hedging instruments:
Other receivables, net	89,217		—		—		8,771		—		—
Other non-current assets	—		—		—		—		—		—
	89,217		—		—		8,771		—		—
Total assets(1)	$	116,950	$	87,508	$	79,563	$	49,972	$	265,390	$	31,303
Liabilities:
Derivatives designated as hedging instruments:
Other payables	$	25,331	$	—	$	—	$	5,251	$	—	$	—
Other non-current liabilities	3,553		—		94,384		—		—		221,899
	28,884		—		94,384		5,251		—		221,899
Derivatives not designated as hedging instruments:
Other payables	2,169		—		—		10,286		—		—
Other non-current liabilities	—		—		—		—		—		—
Total liabilities(1)	$	31,053	$	—	$	94,384	$	15,537	$	—	$	221,899

_______________________________________

(1) The Company’s derivative financial instruments are subject to master netting arrangements that allow for the offset of asset and liabilities in the event of default or early termination of the contract. The Company elects to record the gross assets and liabilities of its derivative financial instruments in the condensed consolidated balance sheets. If the derivative financial instruments had been netted in the condensed consolidated balance sheets, the asset and liability positions each would have been reduced by $125.4 million and $237.4 million at September 28, 2014 and December 29, 2013, respectively. No material amounts of collateral were received or posted on the Company’s derivative assets and liabilities as of September 28, 2014.

Effect of derivative instruments on the statement of income

The following table presents the pre-tax effect of derivative instruments on the condensed consolidated statements of operations for the periods presented:

	Successor
	June 30 - September 28, 2014							June 24 - September 22, 2013
	Foreign Exchange Contracts			Interest Rate Contracts		Cross-Currency Swap Contracts		Foreign Exchange Contracts			Interest Rate Contracts			Cross-Currency Swap Contracts
	(In thousands)
Cash flow hedges:
Gains/(losses) recognized in other comprehensive income (effective portion)	$	7,836		$	29,925	$	—	$	10,315		$	(13,201	)	$	—
Net investment hedges:
Gains/(losses) recognized in other comprehensive income (effective portion)	—			—		434,616		—			—			—
Total gains/(losses) recognized in other comprehensive income (effective portion)	$	7,836		$	29,925	$	434,616	$	10,315		$	(13,201	)	$	—
Cash flow hedges:
Sales	$	(624	)	$	—	$	—	$	125		$	—		$	—
Cost of products sold	(1,558		)	—		—		650			—			—
Selling, general and administrative expenses	—			—		—		(19		)	—			—
Other expense, net	148			—		—		672			—			—
Interest expense	—			—		—		—			40			—
	(2,034		)	—		—		1,428			40			—
Fair value hedges:
Gains/(losses) recognized in other expense, net	—			—		—		—			—			—
Derivatives not designated as hedging instruments:
Unrealized gains/(losses) on derivative instruments	—			—		—		—			—			—
Gains/(losses) recognized in other expense, net	99,411			—		—		36,353			—			—
Gains/(losses) recognized in interest income	—			—		—		—			—			—
	99,411			—		—		36,353			—			—
Total gains/(losses) recognized in statement of operations	$	97,377		$	—	$	—	$	37,781		$	40		$	—

	Successor																Predecessor
	December 30, 2013 - September 28, 2014								February 8 - September 22, 2013								December 24, 2012 - June 7, 2013
	Foreign Exchange Contracts			Interest Rate Contracts			Cross-Currency Swap Contracts		Foreign Exchange Contracts			Interest Rate Contracts			Cross-Currency Swap Contracts		Foreign Exchange Contracts			Interest Rate Contracts			Cross-Currency Interest Rate Swap Contracts
	(In thousands)
Cash flow hedges:
Gains/(losses) recognized in other comprehensive income (effective portion)	$	(22,017	)	$	(177,882	)	$	—	$	17,881		$	141,547		$	—	$	39,351		$	—		$	(57,558	)
Net investment hedges:
Gains/(losses) recognized in other comprehensive income (effective portion)	—			—			175,776		—			—			—		—			—			—
Total gains/(losses) recognized in other comprehensive income (effective portion)	$	(22,017	)	$	(177,882	)	$	175,776	$	17,881		$	141,547		$	—	$	39,351		$	—		$	(57,558	)
Cash flow hedges:
Sales	$	(967	)	$	—		$	—	$	125		$	—		$	—	$	4,836		$	—		$	—
Cost of products sold	7,207			—			—		650			—			—		4,695			—			—
Selling, general and administrative expenses	(125		)	—			—		(19		)	—			—		—			—			—
Other expense, net	966			—			—		672			—			—		9,761			—			(52,447		)
Interest expense	6			—			—		—			40			—		230			(98		)	(11,765		)
	7,087			—			—		1,428			40			—		19,522			(98		)	(64,212		)
Fair value hedges:
Gains/(losses) recognized in other expense, net	—			—			—		—			(180		)	—		—			(8,065		)	—
Derivatives not designated as hedging instruments:
Unrealized gains/(losses) on derivative instruments	—			—			—		—			117,934			—		—			—			—
Gains/(losses) recognized in other expense, net	98,815			—			—		36,434			—			—		(2,922		)	—			—
Gains/(losses) recognized in interest income	—			—			—		—			—			—		—			(10,512		)	—
	98,815			—			—		36,434			117,934			—		(2,922		)	(10,512		)	—
Total gains/(losses) recognized in statement of operations	$	105,902		$	—		$	—	$	37,862		$	117,794		$	—	$	16,600		$	(18,675	)	$	(64,212	)

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Venezuela - Foreign Currency and Inflation

9 Months Ended

Sep. 28, 2014

Foreign Currency [Abstract]

Venezuela - Foreign Currency and Inflation

Venezuela- Foreign Currency and Inflation

We apply highly inflationary accounting to our business in Venezuela. Under highly inflationary accounting, the financial statements of our Venezuelan subsidiary are remeasured into our reporting currency (U.S. dollars), based on the exchange rate at which we expect to remit dividends in U.S. dollars, (which we currently determine to be the official exchange rate of 6.30 BsF/US$). Exchange gains and losses from the remeasurement of monetary assets and liabilities are reflected in current earnings, rather than accumulated other comprehensive loss on the balance sheet, until such time as the economy is no longer considered highly inflationary. The impact of applying highly inflationary accounting for Venezuela on our consolidated financial statements is therefore dependent upon movements in the official exchange rate between the Venezuelan bolivar fuerte and the U.S. dollar.

On February 8, 2013, the Venezuelan government announced the devaluation of its currency relative to the U.S. dollar, changing the official exchange rate from 4.30 to 6.30. As a result, the Company recorded a $42.9 million pre-tax currency translation loss, which was reflected within other expense, net, on the condensed consolidated statement of operations in the first quarter of 2013.

In March 2013, the Venezuelan government announced the creation of a new foreign exchange mechanism called the Complimentary System of Foreign Currency Acquirement (or SICAD, which stands for Sistema Complimentario de Administración de Divisas). It operates similar to an auction system and allows entities in specific sectors to bid for U.S. dollar to be used for specified import transactions. In January 2014, the government in Venezuela announced certain changes to the regulations governing the currency exchange market. The current official exchange rate remains applicable to import activities related to certain necessities, including food products.

In February 2014, the Venezuelan government established a new foreign exchange market mechanism (SICAD II), which became effective on March 24, 2014 and may be the market through which U.S. dollars will be obtained for the remittance of dividends. This market has significantly higher foreign exchange rates than those available through the other foreign exchange mechanisms.  Between March 24, 2014 and September 28, 2014 the published weighted average daily exchange rate was between 49.02 bolivars per USD and 51.86 bolivars per USD. The Company has had limited access to the SICAD II market mechanism and has converted 164.3 million bolivars into $3.1 million USD, recognizing a transactional currency loss of $2.0 million and $22.9 million for the three and nine months ended September 28, 2014, respectively, which has been recorded in other expense, net, in the condensed consolidated statements of operations.

The Company has also had access to, and had settlements at, the current official rate in this period and has outstanding requests for settlement at the official rate. Management continues to believe the official rate is legally available and appropriate for the Company's operations in Venezuela.  While there is considerable uncertainty with respect to the actual rates to be realized in the circumstances, as of September 28, 2014 we continue to believe it is appropriate to remeasure our Venezuelan monetary assets and liabilities at the official rate of 6.30 bolivars per U.S. dollar. The amount of net monetary assets and liabilities included in our Venezuelan subsidiary’s balance sheet was $144.4 million at September 28, 2014.

XML

Supplemental Financial Information (Tables)

9 Months Ended

Sep. 28, 2014

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Condensed Income Statement

and Subsidiaries

Condensed Consolidating Statements of Operations

Third Quarter Ended September 28, 2014

	Holdings			Issuer			Guarantors			Non-Guarantors			Eliminations			Consolidated
	(In thousands)
Sales	$	—		$	49,567		$	859,335		$	1,762,114		$	(77,131	)	$	2,593,885
Cost of product sold	—			393			601,921			1,152,679			(77,131		)	1,677,862
Gross profit	—			49,174			257,414			609,435			—			916,023
Selling, general and administrative expenses	—			36,599			147,775			322,522			—			506,896
Operating income	—			12,575			109,639			286,913			—			409,127
Interest expense/(income), net	—			153,995			6,246			(2,772		)	—			157,469
Other (expense)/income, net	—			(3,522		)	14,690			(48,618		)	—			(37,450		)
(Loss)/income before income taxes	—			(144,942		)	118,083			241,067			—			214,208
Equity in earnings of subsidiaries	171,618			303,868			170,015			—			(645,501		)	—
(Benefit from)/provision for income taxes	—			(12,692		)	4,595			48,324						40,227
Net income	171,618			171,618			283,503			192,743			(645,501		)	173,981
Less: Net income attributable to noncontrolling interest	—			—			—			2,363			—			2,363
Net income	$	171,618		$	171,618		$	283,503		$	190,380		$	(645,501	)	$	171,618
Total comprehensive loss	$	(267,981	)	$	(267,981	)	$	(376,562	)	$	(537,417	)	$	1,181,960		$	(267,981	)

Successor

H. J. Heinz Corporation II and Subsidiaries

Condensed Consolidating Statements of Operations

Third Quarter Ended September 22, 2013

	Holdings			Issuer			Guarantors			Non-Guarantors			Eliminations			Consolidated
	(In thousands)
Sales	$	—		$	56,966		$	905,516		$	1,775,685		$	(91,590	)	$	2,646,577
Cost of product sold	—			405			728,293			1,349,306			(91,590		)	1,986,414
Gross profit	—			56,561			177,223			426,379			—			660,163
Selling, general and administrative expenses	—			70,072			178,363			421,222			—			669,657
Operating (loss)/income	—			(13,511		)	(1,140		)	5,157			—			(9,494		)
Interest expense, net	—			152,462			2,717			5,732			—			160,911
Other expense, net	—			(2,246		)	(821		)	(6,752		)	—			(9,819		)
Loss from continuing operations before income taxes	—			(168,219		)	(4,678		)	(7,327		)	—			(180,224		)
Equity in (losses)/earnings of subsidiaries	(11,767		)	77,551			72,228			—			(138,012		)	—
Benefit from income taxes	—			(78,901		)	(11,543		)	(85,285		)	—			(175,729		)
(Loss)/income from continuing operations	(11,767		)	(11,767		)	79,093			77,958			(138,012		)	(4,495		)
Loss from discontinued operations, net of tax	—			—			—			(4,909		)	—			(4,909		)
Net (loss)/income	(11,767		)	(11,767		)	79,093			73,049			(138,012		)	(9,404		)
Less: Net income attributable to noncontrolling interest	—			—			—			2,363			—			2,363
Net (loss)/income	$	(11,767	)	$	(11,767	)	$	79,093		$	70,686		$	(138,012	)	$	(11,767	)
Total comprehensive income	$	281,846		$	281,846		$	372,208		$	381,905		$	(1,035,959	)	$	281,846

Successor

H. J. Heinz Corporation II and Subsidiaries

Condensed Consolidating Statements of Operations

Nine Months Ended September 28, 2014

	Holdings			Issuer			Guarantors		Non-Guarantors			Eliminations			Consolidated
	(In thousands)
Sales	$	—		$	164,861		$	2,711,434	$	5,497,793		$	(251,607	)	$	8,122,481
Cost of product sold	—			47,338			1,901,663		3,670,864			(251,607		)	5,368,258
Gross profit	—			117,523			809,771		1,826,929			—			2,754,223
Selling, general and administrative expenses	—			78,041			425,522		1,035,646			—			1,539,209
Operating income	—			39,482			384,249		791,283			—			1,215,014
Interest expense/(income), net	—			465,029			20,237		(3,330		)	—			481,936
Other (expense)/income, net	—			(20,279		)	8,164		(89,126		)	—			(101,241		)
(Loss)/income before income taxes	—			(445,826		)	372,176		705,487			—			631,837
Equity in earnings of subsidiaries	493,537			932,748			521,063		—			(1,947,348		)	—
(Benefit from)/provision for income taxes	—			(6,615		)	10,376		121,090			—			124,851
Net income	493,537			493,537			882,863		584,397			(1,947,348		)	506,986
Less: Net income attributable to noncontrolling interest	—			—			—		13,449			—			13,449
Net income	$	493,537		$	493,537		$	882,863	$	570,948		$	(1,947,348	)	$	493,537
Total comprehensive (loss)/income	$	(6,977	)	$	(6,977	)	$	518,232	$	168,740		$	(679,995	)	$	(6,977	)

Successor

H. J. Heinz Corporation II and Subsidiaries

Condensed Consolidating Statements of Operations

Period from February 8 - September 22, 2013

	Holdings			Issuer			Guarantors			Non-Guarantors			Eliminations			Consolidated
	(In thousands)
Sales	$	—		$	75,818		$	1,062,308		$	2,123,815		$	(111,938	)	$	3,150,003
Cost of product sold	—			405			908,986			1,639,685			(111,938		)	2,437,138
Gross profit	—			75,413			153,322			484,130			—			712,865
Selling, general and administrative expenses	—			69,461			229,138			535,790			—			834,389
Operating income/(loss)	—			5,952			(75,816		)	(51,660		)	—			(121,524		)
Interest expense, net	—			210,615			2,952			6,403			—			219,970
Other income/(expense), net	—			113,782			(1,122		)	(3,654		)	—			109,006
Loss from continuing operations before income taxes	—			(90,881		)	(79,890		)	(61,717		)	—			(232,488		)
Equity in (losses)/earnings of subsidiaries	(52,911		)	(12,893		)	64,939			—			865			—
Benefit from income taxes	—			(50,863		)	(11,465		)	(124,528		)	—			(186,856		)
(Loss)/income from continuing operations	(52,911		)	(52,911		)	(3,486		)	62,811			865			(45,632		)
Loss from discontinued operations, net of tax	—			—			—			(4,909		)	—			(4,909		)
Net (loss)/income	(52,911		)	(52,911		)	(3,486		)	57,902			865			(50,541		)
Less: Net income attributable to noncontrolling interest	—			—			—			2,370			—			2,370
Net (loss)/income	$	(52,911	)	$	(52,911	)	$	(3,486	)	$	55,532		$	865		$	(52,911	)
Total comprehensive income	$	186,191		$	186,191		$	125,626		$	195,887		$	(507,704	)	$	186,191

Predecessor

H. J. Heinz Corporation II and Subsidiaries

Condensed Consolidating Statements of Operations

Period from December 24, 2012 - June 7, 2013

	Holdings	Issuer			Guarantors			Non-Guarantors			Eliminations			Consolidated
	(In thousands)
Sales	NA	$	110,590		$	1,797,869		$	3,449,189		$	(153,950	)	$	5,203,698
Cost of product sold	NA	2,066			1,225,167			2,243,613			(153,950		)	3,316,896
Gross profit	NA	108,524			572,702			1,205,576			—			1,886,802
Selling, general and administrative expenses	NA	205,701			306,083			770,684			—			1,282,468
Operating (loss)/income	NA	(97,177		)	266,619			434,892			—			604,334
Interest expense, net	NA	74,849			38,805			6,546			—			120,200
Other expense, net	NA	(36,264		)	(107,867		)	(38,487		)	—			(182,618		)
(Loss)/income from continuing operations before income taxes	NA	(208,290		)	119,947			389,859			—			301,516
Equity in earnings of subsidiaries	NA	372,871			256,604			—			(629,475		)	—
Provision for income taxes	NA	69,579			28,906			61,681			—			160,166
Income from continuing operations	NA	95,002			347,645			328,178			(629,475		)	141,350
Loss from discontinued operations, net of tax	NA	—			—			(39,663		)	—			(39,663		)
Net income	NA	95,002			347,645			288,515			(629,475		)	101,687
Less: Net income attributable to noncontrolling interest	NA	—			—			6,685			—			6,685
Net income	NA	$	95,002		$	347,645		$	281,830		$	(629,475	)	$	95,002
Total comprehensive (loss)/income	NA	$	(281,174	)	$	40,726		$	28,192		$	(68,918	)	$	(281,174	)

Condensed Balance Sheet

Condensed Consolidating Balance Sheets

As of September 28, 2014

	Holdings		Issuer		Guarantors		Non-Guarantors		Eliminations			Consolidated
ASSETS	(In thousands)
Current assets:
Cash and cash equivalents	$	—	$	1,240	$	594,029	$	2,258,840	$	—		$	2,854,109
Trade receivables	—		—		—		812,038		—			812,038
Other receivables	—		209,073		6,413		105,027		—			320,513
Receivables due from affiliates	—		77,881		40,392		224,025		(342,298		)	—
Inventories:
Finished goods and work-in-process	—		—		500,855		684,803		—			1,185,658
Packaging material and ingredients	—		—		59,473		167,179		—			226,652
Total inventories	—		—		560,328		851,982		—			1,412,310
Prepaid expenses	—		16,385		29,180		109,579		(4,401		)	150,743
Short-term lending due from affiliates	—		205,529		496,431		678,905		(1,380,865		)	—
Other current assets	—		1,144		27,180		122,321		(64,380		)	86,265
Total current assets	—		511,252		1,753,953		5,162,717		(1,791,944		)	5,635,978
Property, plant and equipment:
Property, plant and equipment, gross	—		271,642		897,627		1,664,587		—			2,833,856
Less accumulated depreciation	—		34,505		184,384		213,265		—			432,154
Total property, plant and equipment, net	—		237,137		713,243		1,451,322		—			2,401,702
Other non-current assets:
Goodwill	—		—		8,718,583		6,449,008		—			15,167,591
Investments in subsidiaries	15,760,962		27,892,497		14,437,353		—		(58,090,812		)	—
Trademarks, net	—		4,691,000		478,500		6,606,807		—			11,776,307
Other intangibles, net	—		455,573		632,587		818,191		—			1,906,351
Long-term lending due from affiliates	—		—		4,278,686		199,875		(4,478,561		)	—
Other non-current assets	—		559,535		112,819		495,133		—			1,167,487
Total other non-current assets	15,760,962		33,598,605		28,658,528		14,569,014		(62,569,373		)	30,017,736
Total assets	$	15,760,962	$	34,346,994	$	31,125,724	$	21,183,053	$	(64,361,317	)	$	38,055,416

Successor

H. J. Heinz Corporation II and Subsidiaries

Condensed Consolidating Balance Sheets

As of September 28, 2014

	Holdings		Issuer		Guarantors		Non-Guarantors		Eliminations			Consolidated
LIABILITIES AND STOCKHOLDERS EQUITY	(In thousands)
Current liabilities:
Short-term debt	$	—	$	—	$	—	$	904	$	—		$	904
Short-term lending due to affiliates	—		658,117		447,561		275,187		(1,380,865		)	—
Portion of long-term debt due within one year	—		95,000		335		13,203		—			108,538
Trade payables	—		15,830		458,891		919,510		—			1,394,231
Payables due to affiliates	—		128,360		53,214		160,724		(342,298		)	—
Other payables	—		24,501		22,321		70,624		—			117,446
Accrued trade promotions and marketing	—		—		45,982		283,691		—			329,673
Other accrued liabilities	—		207,760		106,410		378,774		(4,401		)	688,543
Income taxes	—		317,554		12,603		210		(64,380		)	265,987
Total current liabilities	—		1,447,122		1,147,317		2,102,827		(1,791,944		)	2,905,322
Long-term debt and other non-current liabilities:
Long-term debt	—		12,501,167		1,765,809		263,454		—			14,530,430
Long-term borrowings due to affiliates	—		2,000,000		199,875		2,524,982		(4,724,857		)	—
Deferred income taxes	—		2,421,510		169,116		1,363,748					3,954,374
Non-pension post-retirement benefits	—		5,078		137,088		49,220		—			191,386
Other non-current liabilities	—		211,155		31,976		214,190		—			457,321
Total long-term debt and other non-current liabilities	—		17,138,910		2,303,864		4,415,594		(4,724,857		)	19,133,511
Redeemable noncontrolling interest	—		—		—		29,315		—			29,315
Total shareholder equity	15,760,962		15,760,962		27,674,543		14,409,011		(57,844,516		)	15,760,962
Noncontrolling interest	—		—		—		226,306		—			226,306
Total equity	15,760,962		15,760,962		27,674,543		14,635,317		(57,844,516		)	15,987,268
Total liabilities and equity	$	15,760,962	$	34,346,994	$	31,125,724	$	21,183,053	$	(64,361,317	)	$	38,055,416

Successor

H. J. Heinz Corporation II and Subsidiaries

Condensed Consolidating Balance Sheets

As of December 29, 2013

	Holdings		Issuer		Guarantors		Non-Guarantors		Eliminations			Consolidated
ASSETS	(In thousands)
Current assets:
Cash and cash equivalents	$	—	$	48,396	$	943,741	$	1,466,855	$	—		$	2,458,992
Trade receivables	—		—		—		1,099,655		—			1,099,655
Other receivables	—		39,816		15,406		189,306		—			244,528
Receivables due from affiliates	—		83,618		21,752		60,974		(166,344		)	—
Inventories:
Finished goods and work-in-process	—		—		452,230		686,143		—			1,138,373
Packaging material and ingredients	—		—		101,332		195,691		—			297,023
Total inventories	—		—		553,562		881,834		—			1,435,396
Prepaid expenses	—		12,784		25,560		127,870		(21,118		)	145,096
Short-term lending due from affiliates	—		1,807,502		32,777		602,059		(2,442,338		)	—
Other current assets	—		—		50,720		51,239		(41,501		)	60,458
Total current assets	—		1,992,116		1,643,518		4,479,792		(2,671,301		)	5,444,125
Property, plant and equipment:
Property, plant and equipment, gross	—		238,618		804,277		1,786,596		—			2,829,491
Less accumulated depreciation	—		15,064		54,016		96,919		—			165,999
Total property, plant and equipment, net	—		223,554		750,261		1,689,677		—			2,663,492
Other non-current assets:
Goodwill	—		—		8,554,726		6,515,336		—			15,070,062
Investments in subsidiaries	16,297,416		26,057,892		15,500,336		—		(57,855,644		)	—
Trademarks, net	—		4,659,800		624,300		6,846,773		—			12,130,873
Other intangibles, net	—		804,370		666,472		887,939		—			2,358,781
Long-term lending due from affiliates	—		—		3,305,383		202,767		(3,508,150		)	—
Other non-current assets	—		660,829		106,116		538,070		—			1,305,015
Total other non-current assets	16,297,416		32,182,891		28,757,333		14,990,885		(61,363,794		)	30,864,731
Total assets	$	16,297,416	$	34,398,561	$	31,151,112	$	21,160,354	$	(64,035,095	)	$	38,972,348

Successor

H. J. Heinz Corporation II and Subsidiaries

Condensed Consolidating Balance Sheets

As of December 29, 2013

	Holdings		Issuer		Guarantors		Non-Guarantors		Eliminations			Consolidated
LIABILITIES AND STOCKHOLDERS EQUITY	(In thousands)
Current liabilities:
Short-term debt	$	—	$	—	$	—	$	143,689	$	—		$	143,689
Short-term lending due to affiliates	—		9,589		2,408,903		23,846		(2,442,338		)	—
Portion of long-term debt due within one year	—		95,000		430		12,335		—			107,765
Trade payables	—		13,389		326,636		852,049		—			1,192,074
Payables due to affiliates	—		49,265		60,488		56,591		(166,344		)	—
Other payables	—		16,349		2,569		129,275		—			148,193
Accrued trade promotions and marketing	—		—		80,892		289,437		—			370,329
Other accrued liabilities	—		226,289		148,609		406,841		(21,118		)	760,621
Income taxes	—		192,282		2,120		49,287		(41,501		)	202,188
Total current liabilities	—		602,163		3,030,647		1,963,350		(2,671,301		)	2,924,859
Long-term debt and other non-current liabilities:
Long-term debt	—		12,568,819		1,772,244		276,583		—			14,617,646
Long-term borrowings due to affiliates	—		2,000,000		202,766		1,554,633		(3,757,399		)	—
Deferred income taxes	—		2,554,207		186,722		1,419,974		—			4,160,903
Non-pension post-retirement benefits	—		3,732		138,136		54,504		—			196,372
Other non-current liabilities	—		372,224		35,989		121,212		—			529,425
Total long-term debt and other non-current liabilities	—		17,498,982		2,335,857		3,426,906		(3,757,399		)	19,504,346
Redeemable noncontrolling interest	—		—		—		29,885		—			29,885
Total shareholder equity	16,297,416		16,297,416		25,784,608		15,524,371		(57,606,395		)	16,297,416
Noncontrolling interest	—		—		—		215,842		—			215,842
Total equity	16,297,416		16,297,416		25,784,608		15,740,213		(57,606,395		)	16,513,258
Total liabilities and equity	$	16,297,416	$	34,398,561	$	31,151,112	$	21,160,354	$	(64,035,095	)	$	38,972,348

Condensed Cash Flow Statement

H. J. Heinz Corporation II and Subsidiaries

Condensed Consolidating Statements of Cash Flows

For the Nine Months Ended September 28, 2014

	Holdings			Issuer			Guarantors			Non-Guarantors			Eliminations			Consolidated
Operating Activities:	(In thousands)
Cash provided by operating activities	$	416,516		$	205,608		$	572,502		$	1,030,123		$	(892,468	)	$	1,332,281
Investing activities:
Capital expenditures	—			(44,885		)	(108,303		)	(94,262		)	—			(247,450		)
Net payments on intercompany lending activities	—			(273,027		)	(240,300		)	(44,333		)	557,660			—
Return of capital	123,484			—			—			—			(123,484		)	—
Other items, net	—			14,072			18,533			5,626			—			38,231
Cash provided by/(used for) investing activities	123,484			(303,840		)	(330,070		)	(132,969		)	434,176			(209,219		)
Financing activities:
Payments on long-term debt	—			(71,250		)	(674		)	(2,673		)	—			(74,597		)
Proceeds from long-term debt	—			—			—			1,586			—			1,586
Net proceeds/(payments) on intercompany borrowing activities	—			648,532			(115,518		)	24,646			(557,660		)	—
Net payments on commercial paper and short-term debt	—			—			—			(11,338		)	—			(11,338		)
Dividends	(540,000		)	(540,000		)	(475,952		)	—			1,015,952			(540,000		)
Other items, net	—			13,794			—			—			—			13,794
Cash (used for)/provided by financing activities	(540,000		)	51,076			(592,144		)	12,221			458,292			(610,555		)
Effect of exchange rate changes on cash and cash equivalents	—			—			—			(117,390		)	—			(117,390		)
Net (decrease)/increase in cash and cash equivalents	—			(47,156		)	(349,712		)	791,985			—			395,117
Cash and cash equivalents at beginning of period	—			48,396			943,741			1,466,855			—			2,458,992
Cash and cash equivalents at end of period	$	—		$	1,240		$	594,029		$	2,258,840		$	—		$	2,854,109

Successor

H. J. Heinz Corporation II and Subsidiaries

Condensed Consolidating Statements of Cash Flows

For the Period February 8 - September 22, 2013

	Holdings			Issuer			Guarantors			Non-Guarantors			Eliminations			Consolidated
Operating Activities:	(In thousands)
Cash (used for)/provided by operating activities	$	—		$	(201,763	)	$	196		$	233,187		$	(223,922	)	$	(192,302	)
Investing activities:
Capital expenditures	—			(14,698		)	(12,381		)	(44,056		)	—			(71,135		)
Net proceeds/(payments) on intercompany lending activities	—			284,606			(5,161		)	149,030			(428,475		)	—
Additional investments in subsidiaries	(16,500,000		)	—			—			—			16,500,000			—
Acquisition of business, net of cash on hand	—			(23,564,251		)	407,067			1,662,897			—			(21,494,287		)
Return of capital	180,000			—			—			—			(180,000		)	—
Change in restricted cash	—			—			—			—			—			—
Other items, net	—			—			(3,126		)	(163		)	—			(3,289		)
Cash (used for)/provided by investing activities	(16,320,000		)	(23,294,343		)	386,399			1,767,708			15,891,525			(21,568,711		)
Financing activities:
Payments on long-term debt	—			(1,683,918		)	(950,037		)	(11,951		)	—			(2,645,906		)
Proceeds from long-term debt	—			12,568,875			—			4,859			—			12,573,734
Debt issuance costs	—			(320,824		)	—			—			—			(320,824		)
Net (payments)/proceeds on intercompany borrowing activities	—			(1,809,129		)	1,449,730			(69,076		)	428,475			—
Net payments on commercial paper and short-term debt	—			(1,600,000		)	—			(56,924		)	—			(1,656,924		)
Dividends	(180,000		)	(180,000		)	(114,461		)	(109,461		)	403,922			(180,000		)
Capital contribution	16,500,000			16,500,000			—			—			(16,500,000		)	16,500,000
Other items, net	—			22,214			3,570			289			—			26,073
Cash provided by/(used for) financing activities	16,320,000			23,497,218			388,802			(242,264		)	(15,667,603		)	24,296,153
Effect of exchange rate changes on cash and cash equivalents	—			—			—			(3,630		)	—			(3,630		)
Net increase in cash and cash equivalents	—			1,112			775,397			1,755,001			—			2,531,510
Cash and cash equivalents at beginning of period	—			—			—			—			—			—
Cash and cash equivalents at end of period	$	—		$	1,112		$	775,397		$	1,755,001		$	—		$	2,531,510

Predecessor

H. J. Heinz Corporation II and Subsidiaries

Condensed Consolidating Statements of Cash Flows

For the Period December 24, 2012 - June 7, 2013

	Holdings	Issuer			Guarantors			Non-Guarantors			Eliminations			Consolidated
Operating Activities:	(In thousands)
Cash provided by operating activities	NA	$	403,272		$	379,863		$	440,752		$	(556,336	)	$	667,551
Investing activities:
Capital expenditures	NA	(2,764		)	(123,740		)	(164,913		)	—			(291,417		)
Net payments on intercompany lending activities	NA	(859,093		)	(586,335		)	(558,875		)	2,004,303			—
Other intercompany investing transactions	NA	(282,572		)	261,544			—			21,028			—
Other items, net	NA	(1,475		)	31,992			2,745			—			33,262
Cash used for investing activities	NA	(1,145,904		)	(416,539		)	(721,043		)	2,025,331			(258,155		)
Financing activities:
Payments on long-term debt	NA	(306,354		)	(137,674		)	(5,819		)	—			(449,847		)
Proceeds from long-term debt	NA	—			—			4,968			—			4,968
Net (payments)/proceeds on intercompany borrowing activities	NA	(263,991		)	1,856,899			411,395			(2,004,303		)	—
Net proceeds/(payments) on commercial paper and short-term debt	NA	1,600,000			(1,269,101		)	(33,684		)	—			297,215
Dividends	NA	(331,654		)	(446,065		)	(110,271		)	556,336			(331,654		)
Exercise of stock options	NA	19,387			—			—			—			19,387
Purchase of treasury stock	NA	(17,762		)	—			—			—			(17,762		)
Other intercompany capital stock transactions	NA	(4,000		)	285,739			(260,711		)	(21,028		)	—
Other items, net	NA	47,010			(44,343		)	(6,340		)	—			(3,673		)
Cash provided by/(used for) financing activities	NA	742,636			245,455			(462		)	(1,468,995		)	(481,366		)
Effect of exchange rate changes on cash and cash equivalents	NA	—			—			(140,483		)	—			(140,483		)
Net increase/(decrease) in cash and cash equivalents	NA	4			208,779			(421,236		)	—			(212,453		)
Cash and cash equivalents at beginning of period	NA	—			198,288			2,084,132			—			2,282,420
Cash and cash equivalents at end of period	NA	$	4		$	407,067		$	1,662,896		$	—		$	2,069,967

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Merger and Acquisition (Tables)

9 Months Ended

Sep. 28, 2014

Business Combinations [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following is a summary of the final allocation of the purchase price of the Merger to the estimated fair values of assets acquired and liabilities assumed in the transaction:

	(In thousands)
Cash (including excess cash from Parent)	$	3,223,588
Other current assets	3,734,558
Property, plant and equipment	2,685,880
Trademark and other intangibles	13,914,059
Other non-current assets	675,998
Trade and other payables	(2,741,809		)
Long term debt	(3,021,656		)
Deferred income tax liabilities	(4,055,544		)
Non-pension postretirement benefits and other noncurrent liabilities	(670,822		)
Redeemable non controlling interest and non controlling interest	(258,008		)
Net assets acquired	13,486,244
Goodwill on acquisition	15,266,720
Total consideration pushed down from Parent	28,752,964
Debt repayment and associated costs	(3,976,847		)
Excess cash from Parent	(1,153,621		)
Other transaction related costs	(58,242		)
Total consideration paid to Predecessor shareholders	23,564,254
Cash and cash equivalents of Predecessor at June 7, 2013	(2,069,967		)
Acquisition of business, net of cash on hand	$	21,494,287

Business Acquisition, Pro Forma Information

The following unaudited pro forma financial data summarizes the Company's results of operations as if the transaction had occurred as of April 30, 2012 (the beginning of the fiscal year ended April 29, 2013). The pro forma data is for informational purposes only and may not necessarily reflect the actual results of operations had the Merger been consummated on April 30, 2012.

	Third Quarter Ended
	September 22, 2013
	(In thousands)
Revenue	$	2,646,577
Income from continuing operations attributable to H. J. Heinz Corporation II	$	241,366

	Nine Months Ended
	September 22, 2013
	(In thousands)
Revenue	$	8,353,701
Income from continuing operations attributable to H. J. Heinz Corporation II	$	464,840

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Merger and Acquistion

9 Months Ended

Sep. 28, 2014

Business Combinations [Abstract]

Merger and Acquisition

Merger and Acquisition

On February 13, 2013, Heinz entered into the Merger Agreement with Parent and Merger Subsidiary. The acquisition was consummated on June 7, 2013, and as a result, Merger Subsidiary merged with and into Heinz, with Heinz surviving as a wholly owned subsidiary of Holdings, which in turn is an indirect wholly owned subsidiary of Parent.

The total consideration paid in connection with the Merger was approximately $28.75 billion, including the assumption of Heinz's outstanding debt. The allocation of consideration to the net tangible and intangible assets acquired and liabilities assumed in the Merger reflects fair value estimates based on management analysis, including work performed by third-party valuation specialists.

The following is a summary of the final allocation of the purchase price of the Merger to the estimated fair values of assets acquired and liabilities assumed in the transaction:

	(In thousands)
Cash (including excess cash from Parent)	$	3,223,588
Other current assets	3,734,558
Property, plant and equipment	2,685,880
Trademark and other intangibles	13,914,059
Other non-current assets	675,998
Trade and other payables	(2,741,809		)
Long term debt	(3,021,656		)
Deferred income tax liabilities	(4,055,544		)
Non-pension postretirement benefits and other noncurrent liabilities	(670,822		)
Redeemable non controlling interest and non controlling interest	(258,008		)
Net assets acquired	13,486,244
Goodwill on acquisition	15,266,720
Total consideration pushed down from Parent	28,752,964
Debt repayment and associated costs	(3,976,847		)
Excess cash from Parent	(1,153,621		)
Other transaction related costs	(58,242		)
Total consideration paid to Predecessor shareholders	23,564,254
Cash and cash equivalents of Predecessor at June 7, 2013	(2,069,967		)
Acquisition of business, net of cash on hand	$	21,494,287

Subsequent to December 29, 2013, the Company made measurement period adjustments to the preliminary purchase price allocation primarily reflecting (1) a decrease in indefinite-lived trademarks of approximately $492.9 million, (2) an increase in long term deferred income tax assets of $24.0 million, (3) a decrease in long term deferred tax liabilities of $165.8 million, (4) a reduction in current income taxes payable of $58.6 million and (5) an increase in goodwill of approximately $249.9 million. These measurement period adjustments were made to reflect facts and circumstances existing as of  the  acquisition  date, and did  not  result  from intervening events subsequent to the acquisition date. These adjustments did not have a significant impact  on  the Company’s previously reported consolidated financial statements and,  therefore,  the  Company has not retrospectively adjusted those financial statements.

The total non tax deductible goodwill relating to the Merger is $15.27 billion. The goodwill recognized relates principally to Heinz's established global organization, reputation and strategic positioning.

In the Successor period from February 8, 2013 to September 22, 2013, the Company incurred $153.8 million of Merger related costs, consisting mostly of professional fees. These amounts are separately reflected in Merger related costs in the accompanying condensed consolidated statement of operations.

In the Predecessor period from December 24, 2012 to June 7, 2013, the Company incurred $157.0 million of Merger related costs, including $48.1 million resulting from the acceleration of expense for stock options, restricted stock units and other compensation plans pursuant to the existing change in control provisions of those plans, and the remainder in professional fees. These amounts are separately reflected in Merger related costs in the accompanying condensed consolidated statements of operations for the Predecessor period. The Company also recorded a loss from the extinguishment of debt in the Predecessor periods presented of approximately $129.4 million for debt required to be repaid upon closing as a result of the change in control which is reflected in other expense, net, in the accompanying condensed consolidated statements of operations.

The following unaudited pro forma financial data summarizes the Company's results of operations as if the transaction had occurred as of April 30, 2012 (the beginning of the fiscal year ended April 29, 2013). The pro forma data is for informational purposes only and may not necessarily reflect the actual results of operations had the Merger been consummated on April 30, 2012.

	Third Quarter Ended
	September 22, 2013
	(In thousands)
Revenue	$	2,646,577
Income from continuing operations attributable to H. J. Heinz Corporation II	$	241,366

	Nine Months Ended
	September 22, 2013
	(In thousands)
Revenue	$	8,353,701
Income from continuing operations attributable to H. J. Heinz Corporation II	$	464,840

The most significant of the pro forma adjustments were to reflect the impact of Merger related costs, the unrealized gain on derivative instruments, higher cost of products sold associated with the purchase accounting adjustments related to the step-up in inventory, amortization of intangible assets and depreciation of property, plant and equipment, and higher interest expense associated with increased debt.

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Consolidated Statements of Comprehensive Income/(Loss) (Unaudited) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended	7 Months Ended	9 Months Ended
	Sep. 28, 2014	Sep. 22, 2013	Jun. 07, 2013	Sep. 22, 2013	Sep. 28, 2014
Net income/(loss)	$ 173,981	$ (9,404)	$ 101,687	$ (50,541)	$ 506,986
Other comprehensive (loss)/income, net of tax:
Comprehensive (loss)/income attributable to H. J. Heinz Corporation II	(267,981)	281,846	(281,174)	186,191	(6,977)
Successor
Net income/(loss)	173,981	(9,404)		(50,541)	506,986
Other comprehensive (loss)/income, net of tax:
Foreign currency translation adjustments	(444,255)	288,007		120,521	(309,312)
Net pension and post retirement benefit losses	(25,481)	0		0	(53,366)
Reclassification of net pension and post-retirement benefit gains to net income	(986)	0		0	(2,965)
Net deferred gains/(losses) on derivatives from periodic revaluations	23,099	(3,323)		103,979	(136,221)
Net deferred losses/(gains) on derivatives reclassified to earnings	3,865	(1,219)		(1,219)	(193)
Total comprehensive (loss)/income	(269,777)	274,061		172,740	4,929
Comprehensive income attributable to the noncontrolling interest	1,796	7,785		13,451	(11,906)
Comprehensive (loss)/income attributable to H. J. Heinz Corporation II	(267,981)	281,846		186,191	(6,977)
Predecessor
Net income/(loss)			101,687
Other comprehensive (loss)/income, net of tax:
Foreign currency translation adjustments			(236,495)
Net pension and post retirement benefit losses			(189,294)
Reclassification of net pension and post-retirement benefit gains to net income			26,867
Net deferred gains/(losses) on derivatives from periodic revaluations			(4,978)
Net deferred losses/(gains) on derivatives reclassified to earnings			22,674
Total comprehensive (loss)/income			(279,539)
Comprehensive income attributable to the noncontrolling interest			(1,635)
Comprehensive (loss)/income attributable to H. J. Heinz Corporation II			$ (281,174)

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Changes in Equity

9 Months Ended

Sep. 28, 2014

Equity [Abstract]

Changes in Equity

Changes in Equity

The following table provides a summary of the changes in the carrying amounts of total equity, H. J. Heinz Corporation II shareholder equity and equity attributable to the noncontrolling interest:

	Capital Stock			Additional Capital		Retained Earnings			Accumulated OCI			Noncontrolling Interest		Total
Successor	(In thousands)
Balance as of December 29, 2013	$	16,140,000		$	1,427	$	(77,021	)	$	233,010		$	215,842	$	16,513,258
Comprehensive income/(loss) (a)	—			—		493,537			(500,514		)	10,464		3,487
Dividends paid to shareholder	(123,484		)	—		(416,516		)	—			—		(540,000		)
Capital contribution (b)	—			4,361		—			—			—		4,361
Stock option expense	—			6,162		—			—			—		6,162
Balance at September 28, 2014	$	16,016,516		$	11,950	$	—		$	(267,504	)	$	226,306	$	15,987,268

______________________________________

(a) The allocation of the individual components of comprehensive income/(loss) attributable to H. J. Heinz Corporation II and the noncontrolling interest is disclosed in Note 11. Comprehensive income attributable to the redeemable noncontrolling interest is $1.4 million for the nine months ended September 28, 2014.

(b) Represents non cash capital contribution associated with the push down of shares issued by Parent to certain employees in conjunction with the Bonus Swap Program. See Note 9.

XML

Document and Entity Information	9 Months Ended
	Sep. 28, 2014
Document and Entity Information [Abstract]
Entity Registrant Name	H. J. Heinz Corp II
Entity Central Index Key	0001600508
Document Type	10-Q
Document Period End Date	Sep. 28, 2014
Amendment Flag	false
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-28
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	Yes
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding	1,000

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Debt

9 Months Ended

Sep. 28, 2014

Debt Disclosure [Abstract]

Debt

Debt

The Company's long-term debt consists of the following:

	Successor
	September 28, 2014			December 29, 2013
	(Unaudited)
	(In thousands)
$2.95 billion Term B-1 Loan	$	2,908,932		$	2,929,213
$6.55 billion Term B-2 Loan	6,471,153			6,518,524
$3.10 billion 4.25% Second Lien Senior Secured Notes due 2020	3,100,000			3,100,000
Other U.S. Dollar Debt due May 2013 — November 2034 (0.94%—7.96%)	9,891			10,774
Other Non-U.S. Dollar Debt due May 2013 — May 2023 (3.50%—11.00%)	61,812			70,411
2.00% U.S. Dollar Notes due September 2016	58,308			58,308
1.50% U.S. Dollar Notes due March 2017	17,742			17,743
3.125% U.S. Dollar Notes due September 2021	34,433			34,433
2.85% U.S. Dollar Notes due March 2022	5,599			5,599
$235 million 6.375% U.S. Dollar Debentures due July 2028	256,902			258,075
£125 million6.25% British Pound Notes due February 2030	214,845			218,507
$437 million 6.75% U.S. Dollar Notes due March 2032	475,281			476,943
$931 million 7.125% U.S. Dollar Notes due August 2039	1,024,070			1,026,881
	14,638,968			14,725,411
Less portion due within one year	(108,538		)	(107,765		)
Total long-term debt	$	14,530,430		$	14,617,646
Weighted-average interest rate on long-term debt, including the impact of applicable interest rate swaps	4.02		%	4.01		%

Senior Credit Facilities

The Senior Credit Facilities are with a syndicate of banks and other financial institutions and provide financing of up to $9.5 billion and consist of (i)(a) term B-1 loans in an aggregate principal amount of $2.95 billion (the “B-1 Loans”) and (b) term B-2 loans in aggregate principal amount of $6.55 billion (the “B-2 Loans”) in each case under the new senior secured term loan facilities (the “Term Loan Facilities”) and (ii) revolving loans of up to $2.0 billion (including revolving loans, swingline loans and letters of credit), a portion of which may be denominated in Euro, Sterling, Australian Dollars, Japanese Yen or New Zealand Dollars, under the new senior secured revolving loan facilities (the “Revolving Credit Facilities” and, together with the Term Loan Facilities, the "Senior Credit Facilities").

The borrower under the Senior Credit Facilities is Heinz. The obligations of Heinz under the Senior Credit Facilities are guaranteed by Holdings and each direct and indirect, existing and future, domestic material wholly-owned restricted subsidiary of the Company. The Senior Credit Facilities and any swap agreements and cash management arrangements provided by any party to the Senior Credit Facilities or any of its affiliates are expected to be secured on a first priority basis by a perfected security interest in substantially all of the Company's and each guarantor's tangible and intangible assets (subject to certain exceptions), including U.S. registered intellectual property, owned real property above a value to be agreed and all of the capital stock of the borrower and all capital stock directly held by the borrower or any subsidiary guarantor of each of its wholly-owned material restricted subsidiaries (limited to 65% of the capital stock of foreign subsidiaries).

The Senior Credit Facilities contain a number of customary affirmative and negative covenants that, among other things, limit or restrict the ability of the Company and its restricted subsidiaries to incur additional indebtedness (including guarantee obligations); incur liens; engage in mergers, consolidations, liquidations and dissolutions (other than the Merger); sell assets; pay dividends and make other payments in respect of capital stock; make acquisitions, investments, loans and advances; pay and modify the terms of certain indebtedness; engage in certain transactions with affiliates; enter into negative pledge clauses and clauses restricting subsidiary distributions; and change its line of business.

In addition, under the Senior Credit Facilities, the Company is required to comply with a specified first lien senior secured leverage ratio to the extent any loans are outstanding under the New Revolving Credit Facility or Letters of Credit issued and outstanding thereunder exceed $50 million as of the end of any fiscal quarter. The Senior Credit Facilities also contain certain customary representations and warranties, affirmative covenants and events of default. As of September 28, 2014, the Company is in compliance with these credit facility covenants.

4.25% Second Lien Senior Secured Notes

On April 1, 2013, in connection with the Merger, Merger Subsidiary completed the private placement of $3.1 billion aggregate principal amount of 4.25% Exchange Notes to initial purchasers for resale by the Initial Purchasers to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended ("Securities Act") and to persons outside the United States under Regulation S of the Securities Act. The Exchange Notes were issued pursuant to an indenture (the “Indenture”), dated as of April 1, 2013, by and among Merger Subsidiary, Holdings and Wells Fargo Bank, National Association, as trustee (in such capacity, the “Trustee”) and as collateral agent (in such capacity, the “Collateral Agent”).

The Exchange Notes are jointly and severally, unconditionally guaranteed on a senior secured basis, by Holdings and each direct and indirect, existing and future, domestic material wholly-owned restricted subsidiary that guarantee our obligations under the Senior Credit Facilities.

The Indenture (as supplemented by the Supplemental Indenture) limits the ability of the Company and its restricted subsidiaries to incur additional indebtedness or guarantee indebtedness; create liens or use assets as security in other transactions; declare or pay dividends, redeem stock or make other distributions to stockholders; make investments; merge or consolidate, or sell, transfer, lease or dispose of substantially all of our assets; enter into transactions with affiliates; sell or transfer certain assets; and agree to certain restrictions on the ability of restricted subsidiaries to make payments to us. We were in compliance with these covenants as of September 28, 2014.

The Company was required to cause an exchange offer registration statement for the Exchange Notes to be declared effective by the SEC under the Securities Act and to consummate the exchange offer not later than 365 days after the Merger closing date. The Company filed a Registration Statement for such an exchange offer on such Exchange Notes which became effective on May 7, 2014. See Note 18 for more details.

Debt issuance costs

As of September 28, 2014, unamortized debt issuance costs related to new borrowings under our current Senior Credit Facilities and the Exchange Notes were $255.1 million. The following table summarizes the amortization of debt issuance costs for the periods presented:

	Successor				Successor				Predecessor
	June 30 - September 28, 2014		June 24 - September 22, 2013		December 30, 2013 - September 28, 2014		February 8 - September 22, 2013		December 24, 2012 - June 7, 2013
	(In millions)
Amortization of debt issuance costs	$	12.2	$	12.2	$	36.6	$	14.8	$	18.5

These costs are amortized using the effective interest method over the respective term of debt to which they specifically relate.

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Condensed Consolidated Balance Sheets (Unaudited) (USD $) In Thousands, unless otherwise specified	Sep. 28, 2014	Dec. 29, 2013
Current Assets:
Cash and cash equivalents	$ 2,854,109	$ 2,458,992
Trade receivables, net	812,038	1,099,655
Other receivables	320,513	244,528
Inventories:
Finished goods and work-in-process	1,185,658	1,138,373
Packaging material and ingredients	226,652	297,023
Total inventories	1,412,310	1,435,396
Prepaid expenses	150,743	145,096
Other current assets	86,265	60,458
Total current assets	5,635,978	5,444,125
Property, plant and equipment	2,833,856	2,829,491
Less accumulated depreciation	432,154	165,999
Total property, plant and equipment, net	2,401,702	2,663,492
Goodwill	15,167,591	15,070,062
Trademarks, net	11,776,307	12,130,873
Other intangibles, net	1,906,351	2,358,781
Other non-current assets	1,167,487	1,305,015
Total other non-current assets	30,017,736	30,864,731
Total assets	38,055,416	38,972,348
Current Liabilities:
Short-term debt	904	143,689
Portion of long-term debt due within one year	108,538	107,765
Trade payables	1,394,231	1,192,074
Other payables	117,446	148,193
Accrued trade promotions and marketing	329,673	370,329
Other accrued liabilities	688,543	760,621
Income taxes	265,987	202,188
Total current liabilities	2,905,322	2,924,859
Long-term debt	14,530,430	14,617,646
Deferred income taxes	3,954,374	4,160,903
Non-pension postretirement benefits	191,386	196,372
Other non-current liabilities	457,321	529,425
Total long-term liabilities	19,133,511	19,504,346
Redeemable noncontrolling interest	29,315	29,885
Equity:
Total H. J. Heinz Corporation II shareholder equity	15,760,962	16,297,416
Noncontrolling interest	226,306	215,842
Total equity	15,987,268	16,513,258
Total liabilities and equity	38,055,416	38,972,348
Successor
Current Assets:
Cash and cash equivalents	2,854,109	2,458,992
Trade receivables, net	812,038	1,099,655
Other receivables	320,513	244,528
Inventories:
Finished goods and work-in-process	1,185,658	1,138,373
Packaging material and ingredients	226,652	297,023
Total inventories	1,412,310	1,435,396
Prepaid expenses	150,743	145,096
Other current assets	86,265	60,458
Total current assets	5,635,978	5,444,125
Property, plant and equipment	2,833,856	2,829,491
Less accumulated depreciation	432,154	165,999
Total property, plant and equipment, net	2,401,702	2,663,492
Goodwill	15,167,591	15,070,062
Trademarks, net	11,776,307	12,130,873
Other intangibles, net	1,906,351	2,358,781
Other non-current assets	1,167,487	1,305,015
Total other non-current assets	30,017,736	30,864,731
Total assets	38,055,416	38,972,348
Current Liabilities:
Short-term debt	904	143,689
Portion of long-term debt due within one year	108,538	107,765
Trade payables	1,394,231	1,192,074
Other payables	117,446	148,193
Accrued interest	173,981	172,340
Accrued trade promotions and marketing	329,673	370,329
Other accrued liabilities	514,562	588,281
Income taxes	265,987	202,188
Total current liabilities	2,905,322	2,924,859
Long-term debt	14,530,430	14,617,646
Deferred income taxes	3,954,374	4,160,903
Non-pension postretirement benefits	191,386	196,372
Other non-current liabilities	457,321	529,425
Total long-term liabilities	19,133,511	19,504,346
Redeemable noncontrolling interest	29,315	29,885
Equity:
Capital stock	16,016,516	16,140,000
Additional capital	11,950	1,427
Accumulated deficit	0	(77,021)
Accumulated other comprehensive (loss)/income	(267,504)	233,010
Total H. J. Heinz Corporation II shareholder equity	15,760,962	16,297,416
Noncontrolling interest	226,306	215,842
Total equity	15,987,268	16,513,258
Total liabilities and equity	$ 38,055,416	$ 38,972,348

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Goodwill and Other Intangible Assets

9 Months Ended

Sep. 28, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Goodwill and Other Intangible Assets

Changes in the carrying amount of goodwill for the period from December 29, 2013 to September 28, 2014, by reportable segment, are as follows:

	North America			Europe			Asia/Pacific			Latin America			RIMEA			Total
Successor	(In thousands)
Balance at December 29, 2013	$	9,853,578		$	3,704,658		$	1,026,979		$	210,916		$	273,931		$	15,070,062
Purchase accounting adjustments	215,034			(56,853		)	46,293			48,738			(3,299		)	249,913
Translation adjustments	(45,770		)	(85,294		)	(11,231		)	(11,091		)	1,002			(152,384		)
Balance at September 28, 2014	$	10,022,842		$	3,562,511		$	1,062,041		$	248,563		$	271,634		$	15,167,591

The Company revised its changes in the carrying amount of goodwill table presented herein to correct the allocation of balance at December 29, 2013 and purchase accounting adjustments by reportable segment having the following impacts:

• Increasing North America purchase accounting adjustments by $96 million.

• Decreasing Europe balance at December 29, 2013 by $5 million and decreasing purchase accounting adjustments by $143 million.

• Decreasing Asia/Pacific balance at December 29, 2013 by $21 million and increasing purchase accounting adjustments by $29 million.

• Increasing LATAM purchase accounting adjustments by $44 million.

• Increasing RIMEA balance at December 29, 2013 by $26 million and decreasing purchase accounting adjustments by $26 million.

The revisions had no impact on the Company's condensed consolidated financial statements as of December 29, 2013 or for the transition period then ended. The revisions also had no impact on the condensed consolidated financial statements as of September 28, 2014 or for the period then ended.

The Company is required to perform an impairment assessment for goodwill and other indefinite lived intangible assets within one year of their acquisition date (June 7, 2013). As such, the Company performed an impairment assessment of goodwill and other indefinite lived intangible assets as of the first day of the second quarter of 2014. As a result, the Company took a non-cash impairment charge of $62 million classified as cost of products sold in the Successor period from March 31 to June 29, 2014, on its indefinite lived trademarks, primarily in its North American frozen meals and snacks business due to continued category softness driving lower than anticipated sales. Because the indefinite-lived intangible assets were adjusted to their estimated fair values in connection with the Merger, there is not a significant excess of fair value over the carrying values as of September 28, 2014. If current expectations of future growth rates are not met or specific valuation factors outside of our control, such as discount rates, change significantly, then one or more trademarks might become impaired in the future. There was no impairment of goodwill as a result of this assessment and there are no accumulated impairment losses to goodwill as of September 28, 2014.

Intangible assets not subject to amortization at September 28, 2014 totaled $12.3 billion and consisted of $11.8 billion of trademarks, $484.8 million of licenses, and $46.2 million of other intangibles. Intangible assets not subject to amortization at December 29, 2013 totaled $13.0 billion and consisted of $12.1 billion of trademarks, $839.9 million of licenses, and $45.6 million of other intangible assets. The decrease in intangible assets not subject to amortization since December 29, 2013 is due to final purchase accounting adjustments to trademarks, the non-cash impairment noted above and foreign currency translation adjustments.

Other intangible assets at September 28, 2014 and December 29, 2013 subject to amortization expense are as follows:

	September 28, 2014							December 29, 2013
	Gross		Accumulated Amortization			Net		Gross		Accumulated Amortization			Net
	(In thousands)
Customer-related assets	$	1,351,001	$	(85,301	)	$	1,265,700	$	1,375,876	$	(35,773	)	$	1,340,103
Licenses	119,325		(24,547		)	94,778		119,714		(10,030		)	109,684
Other	16,369		(1,494		)	14,875		24,665		(1,118		)	23,547
	$	1,486,695	$	(111,342	)	$	1,375,353	$	1,520,255	$	(46,921	)	$	1,473,334

The following tables summarize amortization expense for customer-related and other intangible assets for the periods presented:

	Successor
	June 30 - September 28, 2014		June 24 - September 22, 2013
	(In thousands)
Amortization of customer-related and other intangible assets	$	22,632	$	19,254

	Successor				Predecessor
	December 30, 2013 - September 28, 2014		February 8 - September 22, 2013		December 24, 2012 - June 7, 2013
	(In thousands)
Amortization of customer-related and other intangible assets	$	68,327	$	20,259	$	13,673

Based upon the amortizable intangible assets recorded on the balance sheet as of September 28, 2014, average annual amortization expense for each of the next five years is estimated to be approximately $82.4 million.

XML

Discontinued Operations

9 Months Ended

Sep. 28, 2014

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

Discontinued Operations

In January 2013, the Company’s Board of Directors approved management’s plan to sell Shanghai LongFong Foods (“LongFong”), a maker of frozen products in China which was previously reported in the Asia/Pacific segment. As a result, LongFong’s net assets were classified as held for sale and the Company adjusted the carrying value to estimated fair value, recording a $36.0 million pre-tax and after-tax non-cash goodwill impairment charge to discontinued operations in January 2013. The sale was completed in June 2013, resulting in an insignificant pre-tax and after-tax loss which was recorded in discontinued operations at that time.

The operating results related to LongFong have been included in discontinued operations in the Company's condensed consolidated statements of operations for all periods presented. The following table presents summarized operating results for this discontinued operation:

	Successor
	June 30 - September 28, 2014		June 24 - September 22, 2013
	(In millions)
Sales	$	—	$	3.0
Net loss	$	—	$	(4.9	)

	Successor					Predecessor
	December 30, 2013 - September 28, 2014		February 8 - September 22, 2013			December 24, 2012 - June 7, 2013
	(In millions)
Sales	$	—	$	3.0		$	26.5
Net loss	$	—	$	(4.9	)	$	(3.7	)

XML

Supplemental Financial Information (Notes)

9 Months Ended

Sep. 28, 2014

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Supplemental Financial Information

Supplemental Financial Information

On April 1, 2013, in connection with the Merger, Merger Subsidiary completed the private placement of $3.1 billion aggregate principal amount of 4.25% Exchange Notes to Initial Purchasers for resale by the Initial Purchasers to qualified institutional buyers pursuant to Rule 144A under the Securities Act and to persons outside the United States under Regulation S of the Securities Act. See Note 13 for more details.

The Exchange Notes are jointly and severally, fully and unconditionally guaranteed on a senior secured basis, subject to certain customary release provisions by the Guarantors, which represent most of Heinz's domestic subsidiaries, which guarantee our obligations under the Senior Credit Facilities.

The Issuer, H. J. Heinz Company ("Heinz"), and guarantor subsidiaries are 100% owned by Holdings.

The non-U.S. subsidiaries are identified below as Non-Guarantors. The following represents the condensed consolidating financial information for Holdings, the Issuer, the Guarantors on a combined basis, and the non-U.S. subsidiaries of Heinz (the “Non-Guarantors”), on a combined basis, together with eliminations, as of and for the periods indicated. The condensed consolidating financial information may not necessarily be indicative of the financial position, results of operations or cash flows had Holdings, Heinz, Guarantors and Non-Guarantors operated as independent entities.

The Company revised its condensed consolidating balance sheet as of December 29, 2013 presented herein to correct the amount recorded for pension obligations having the following impact on the Guarantor and Issuer columns:

• Decreasing Guarantor non-current assets by approximately $2 million and decreasing current and non-current liabilities by approximately $9 million and $17 million, respectively, with a corresponding increase in Guarantor accumulated other comprehensive income, after tax effect, of approximately $24 million.

• Increasing the Issuer investment in affiliates by approximately $24 million offset by a decrease in Issuer non-current assets of $26 million and an increase in Issuer current liabilities by approximately $9 million offset by a decrease in Issuer non-current liabilities by approximately $11 million.

The revisions had no impact on the Company's condensed consolidated financial statements as of December 29, 2013 or for the transition period then ended. The revisions also had no impact on the condensed consolidated statements of operations and of cash flows for the periods presented.

Successor

H. J. Heinz Corporation II and Subsidiaries

Condensed Consolidating Statements of Operations

Third Quarter Ended September 28, 2014

	Holdings			Issuer			Guarantors			Non-Guarantors			Eliminations			Consolidated
	(In thousands)
Sales	$	—		$	49,567		$	859,335		$	1,762,114		$	(77,131	)	$	2,593,885
Cost of product sold	—			393			601,921			1,152,679			(77,131		)	1,677,862
Gross profit	—			49,174			257,414			609,435			—			916,023
Selling, general and administrative expenses	—			36,599			147,775			322,522			—			506,896
Operating income	—			12,575			109,639			286,913			—			409,127
Interest expense/(income), net	—			153,995			6,246			(2,772		)	—			157,469
Other (expense)/income, net	—			(3,522		)	14,690			(48,618		)	—			(37,450		)
(Loss)/income before income taxes	—			(144,942		)	118,083			241,067			—			214,208
Equity in earnings of subsidiaries	171,618			303,868			170,015			—			(645,501		)	—
(Benefit from)/provision for income taxes	—			(12,692		)	4,595			48,324						40,227
Net income	171,618			171,618			283,503			192,743			(645,501		)	173,981
Less: Net income attributable to noncontrolling interest	—			—			—			2,363			—			2,363
Net income	$	171,618		$	171,618		$	283,503		$	190,380		$	(645,501	)	$	171,618
Total comprehensive loss	$	(267,981	)	$	(267,981	)	$	(376,562	)	$	(537,417	)	$	1,181,960		$	(267,981	)

Successor

H. J. Heinz Corporation II and Subsidiaries

Condensed Consolidating Statements of Operations

Third Quarter Ended September 22, 2013

	Holdings			Issuer			Guarantors			Non-Guarantors			Eliminations			Consolidated
	(In thousands)
Sales	$	—		$	56,966		$	905,516		$	1,775,685		$	(91,590	)	$	2,646,577
Cost of product sold	—			405			728,293			1,349,306			(91,590		)	1,986,414
Gross profit	—			56,561			177,223			426,379			—			660,163
Selling, general and administrative expenses	—			70,072			178,363			421,222			—			669,657
Operating (loss)/income	—			(13,511		)	(1,140		)	5,157			—			(9,494		)
Interest expense, net	—			152,462			2,717			5,732			—			160,911
Other expense, net	—			(2,246		)	(821		)	(6,752		)	—			(9,819		)
Loss from continuing operations before income taxes	—			(168,219		)	(4,678		)	(7,327		)	—			(180,224		)
Equity in (losses)/earnings of subsidiaries	(11,767		)	77,551			72,228			—			(138,012		)	—
Benefit from income taxes	—			(78,901		)	(11,543		)	(85,285		)	—			(175,729		)
(Loss)/income from continuing operations	(11,767		)	(11,767		)	79,093			77,958			(138,012		)	(4,495		)
Loss from discontinued operations, net of tax	—			—			—			(4,909		)	—			(4,909		)
Net (loss)/income	(11,767		)	(11,767		)	79,093			73,049			(138,012		)	(9,404		)
Less: Net income attributable to noncontrolling interest	—			—			—			2,363			—			2,363
Net (loss)/income	$	(11,767	)	$	(11,767	)	$	79,093		$	70,686		$	(138,012	)	$	(11,767	)
Total comprehensive income	$	281,846		$	281,846		$	372,208		$	381,905		$	(1,035,959	)	$	281,846

Successor

H. J. Heinz Corporation II and Subsidiaries

Condensed Consolidating Statements of Operations

Nine Months Ended September 28, 2014

	Holdings			Issuer			Guarantors		Non-Guarantors			Eliminations			Consolidated
	(In thousands)
Sales	$	—		$	164,861		$	2,711,434	$	5,497,793		$	(251,607	)	$	8,122,481
Cost of product sold	—			47,338			1,901,663		3,670,864			(251,607		)	5,368,258
Gross profit	—			117,523			809,771		1,826,929			—			2,754,223
Selling, general and administrative expenses	—			78,041			425,522		1,035,646			—			1,539,209
Operating income	—			39,482			384,249		791,283			—			1,215,014
Interest expense/(income), net	—			465,029			20,237		(3,330		)	—			481,936
Other (expense)/income, net	—			(20,279		)	8,164		(89,126		)	—			(101,241		)
(Loss)/income before income taxes	—			(445,826		)	372,176		705,487			—			631,837
Equity in earnings of subsidiaries	493,537			932,748			521,063		—			(1,947,348		)	—
(Benefit from)/provision for income taxes	—			(6,615		)	10,376		121,090			—			124,851
Net income	493,537			493,537			882,863		584,397			(1,947,348		)	506,986
Less: Net income attributable to noncontrolling interest	—			—			—		13,449			—			13,449
Net income	$	493,537		$	493,537		$	882,863	$	570,948		$	(1,947,348	)	$	493,537
Total comprehensive (loss)/income	$	(6,977	)	$	(6,977	)	$	518,232	$	168,740		$	(679,995	)	$	(6,977	)

Successor

H. J. Heinz Corporation II and Subsidiaries

Condensed Consolidating Statements of Operations

Period from February 8 - September 22, 2013

	Holdings			Issuer			Guarantors			Non-Guarantors			Eliminations			Consolidated
	(In thousands)
Sales	$	—		$	75,818		$	1,062,308		$	2,123,815		$	(111,938	)	$	3,150,003
Cost of product sold	—			405			908,986			1,639,685			(111,938		)	2,437,138
Gross profit	—			75,413			153,322			484,130			—			712,865
Selling, general and administrative expenses	—			69,461			229,138			535,790			—			834,389
Operating income/(loss)	—			5,952			(75,816		)	(51,660		)	—			(121,524		)
Interest expense, net	—			210,615			2,952			6,403			—			219,970
Other income/(expense), net	—			113,782			(1,122		)	(3,654		)	—			109,006
Loss from continuing operations before income taxes	—			(90,881		)	(79,890		)	(61,717		)	—			(232,488		)
Equity in (losses)/earnings of subsidiaries	(52,911		)	(12,893		)	64,939			—			865			—
Benefit from income taxes	—			(50,863		)	(11,465		)	(124,528		)	—			(186,856		)
(Loss)/income from continuing operations	(52,911		)	(52,911		)	(3,486		)	62,811			865			(45,632		)
Loss from discontinued operations, net of tax	—			—			—			(4,909		)	—			(4,909		)
Net (loss)/income	(52,911		)	(52,911		)	(3,486		)	57,902			865			(50,541		)
Less: Net income attributable to noncontrolling interest	—			—			—			2,370			—			2,370
Net (loss)/income	$	(52,911	)	$	(52,911	)	$	(3,486	)	$	55,532		$	865		$	(52,911	)
Total comprehensive income	$	186,191		$	186,191		$	125,626		$	195,887		$	(507,704	)	$	186,191

Predecessor

H. J. Heinz Corporation II and Subsidiaries

Condensed Consolidating Statements of Operations

Period from December 24, 2012 - June 7, 2013

	Holdings	Issuer			Guarantors			Non-Guarantors			Eliminations			Consolidated
	(In thousands)
Sales	NA	$	110,590		$	1,797,869		$	3,449,189		$	(153,950	)	$	5,203,698
Cost of product sold	NA	2,066			1,225,167			2,243,613			(153,950		)	3,316,896
Gross profit	NA	108,524			572,702			1,205,576			—			1,886,802
Selling, general and administrative expenses	NA	205,701			306,083			770,684			—			1,282,468
Operating (loss)/income	NA	(97,177		)	266,619			434,892			—			604,334
Interest expense, net	NA	74,849			38,805			6,546			—			120,200
Other expense, net	NA	(36,264		)	(107,867		)	(38,487		)	—			(182,618		)
(Loss)/income from continuing operations before income taxes	NA	(208,290		)	119,947			389,859			—			301,516
Equity in earnings of subsidiaries	NA	372,871			256,604			—			(629,475		)	—
Provision for income taxes	NA	69,579			28,906			61,681			—			160,166
Income from continuing operations	NA	95,002			347,645			328,178			(629,475		)	141,350
Loss from discontinued operations, net of tax	NA	—			—			(39,663		)	—			(39,663		)
Net income	NA	95,002			347,645			288,515			(629,475		)	101,687
Less: Net income attributable to noncontrolling interest	NA	—			—			6,685			—			6,685
Net income	NA	$	95,002		$	347,645		$	281,830		$	(629,475	)	$	95,002
Total comprehensive (loss)/income	NA	$	(281,174	)	$	40,726		$	28,192		$	(68,918	)	$	(281,174	)

Successor

H. J. Heinz Corporation II and Subsidiaries

Condensed Consolidating Balance Sheets

As of September 28, 2014

	Holdings		Issuer		Guarantors		Non-Guarantors		Eliminations			Consolidated
ASSETS	(In thousands)
Current assets:
Cash and cash equivalents	$	—	$	1,240	$	594,029	$	2,258,840	$	—		$	2,854,109
Trade receivables	—		—		—		812,038		—			812,038
Other receivables	—		209,073		6,413		105,027		—			320,513
Receivables due from affiliates	—		77,881		40,392		224,025		(342,298		)	—
Inventories:
Finished goods and work-in-process	—		—		500,855		684,803		—			1,185,658
Packaging material and ingredients	—		—		59,473		167,179		—			226,652
Total inventories	—		—		560,328		851,982		—			1,412,310
Prepaid expenses	—		16,385		29,180		109,579		(4,401		)	150,743
Short-term lending due from affiliates	—		205,529		496,431		678,905		(1,380,865		)	—
Other current assets	—		1,144		27,180		122,321		(64,380		)	86,265
Total current assets	—		511,252		1,753,953		5,162,717		(1,791,944		)	5,635,978
Property, plant and equipment:
Property, plant and equipment, gross	—		271,642		897,627		1,664,587		—			2,833,856
Less accumulated depreciation	—		34,505		184,384		213,265		—			432,154
Total property, plant and equipment, net	—		237,137		713,243		1,451,322		—			2,401,702
Other non-current assets:
Goodwill	—		—		8,718,583		6,449,008		—			15,167,591
Investments in subsidiaries	15,760,962		27,892,497		14,437,353		—		(58,090,812		)	—
Trademarks, net	—		4,691,000		478,500		6,606,807		—			11,776,307
Other intangibles, net	—		455,573		632,587		818,191		—			1,906,351
Long-term lending due from affiliates	—		—		4,278,686		199,875		(4,478,561		)	—
Other non-current assets	—		559,535		112,819		495,133		—			1,167,487
Total other non-current assets	15,760,962		33,598,605		28,658,528		14,569,014		(62,569,373		)	30,017,736
Total assets	$	15,760,962	$	34,346,994	$	31,125,724	$	21,183,053	$	(64,361,317	)	$	38,055,416

Successor

H. J. Heinz Corporation II and Subsidiaries

Condensed Consolidating Balance Sheets

As of September 28, 2014

	Holdings		Issuer		Guarantors		Non-Guarantors		Eliminations			Consolidated
LIABILITIES AND STOCKHOLDERS EQUITY	(In thousands)
Current liabilities:
Short-term debt	$	—	$	—	$	—	$	904	$	—		$	904
Short-term lending due to affiliates	—		658,117		447,561		275,187		(1,380,865		)	—
Portion of long-term debt due within one year	—		95,000		335		13,203		—			108,538
Trade payables	—		15,830		458,891		919,510		—			1,394,231
Payables due to affiliates	—		128,360		53,214		160,724		(342,298		)	—
Other payables	—		24,501		22,321		70,624		—			117,446
Accrued trade promotions and marketing	—		—		45,982		283,691		—			329,673
Other accrued liabilities	—		207,760		106,410		378,774		(4,401		)	688,543
Income taxes	—		317,554		12,603		210		(64,380		)	265,987
Total current liabilities	—		1,447,122		1,147,317		2,102,827		(1,791,944		)	2,905,322
Long-term debt and other non-current liabilities:
Long-term debt	—		12,501,167		1,765,809		263,454		—			14,530,430
Long-term borrowings due to affiliates	—		2,000,000		199,875		2,524,982		(4,724,857		)	—
Deferred income taxes	—		2,421,510		169,116		1,363,748					3,954,374
Non-pension post-retirement benefits	—		5,078		137,088		49,220		—			191,386
Other non-current liabilities	—		211,155		31,976		214,190		—			457,321
Total long-term debt and other non-current liabilities	—		17,138,910		2,303,864		4,415,594		(4,724,857		)	19,133,511
Redeemable noncontrolling interest	—		—		—		29,315		—			29,315
Total shareholder equity	15,760,962		15,760,962		27,674,543		14,409,011		(57,844,516		)	15,760,962
Noncontrolling interest	—		—		—		226,306		—			226,306
Total equity	15,760,962		15,760,962		27,674,543		14,635,317		(57,844,516		)	15,987,268
Total liabilities and equity	$	15,760,962	$	34,346,994	$	31,125,724	$	21,183,053	$	(64,361,317	)	$	38,055,416

Successor

H. J. Heinz Corporation II and Subsidiaries

Condensed Consolidating Balance Sheets

As of December 29, 2013

	Holdings		Issuer		Guarantors		Non-Guarantors		Eliminations			Consolidated
ASSETS	(In thousands)
Current assets:
Cash and cash equivalents	$	—	$	48,396	$	943,741	$	1,466,855	$	—		$	2,458,992
Trade receivables	—		—		—		1,099,655		—			1,099,655
Other receivables	—		39,816		15,406		189,306		—			244,528
Receivables due from affiliates	—		83,618		21,752		60,974		(166,344		)	—
Inventories:
Finished goods and work-in-process	—		—		452,230		686,143		—			1,138,373
Packaging material and ingredients	—		—		101,332		195,691		—			297,023
Total inventories	—		—		553,562		881,834		—			1,435,396
Prepaid expenses	—		12,784		25,560		127,870		(21,118		)	145,096
Short-term lending due from affiliates	—		1,807,502		32,777		602,059		(2,442,338		)	—
Other current assets	—		—		50,720		51,239		(41,501		)	60,458
Total current assets	—		1,992,116		1,643,518		4,479,792		(2,671,301		)	5,444,125
Property, plant and equipment:
Property, plant and equipment, gross	—		238,618		804,277		1,786,596		—			2,829,491
Less accumulated depreciation	—		15,064		54,016		96,919		—			165,999
Total property, plant and equipment, net	—		223,554		750,261		1,689,677		—			2,663,492
Other non-current assets:
Goodwill	—		—		8,554,726		6,515,336		—			15,070,062
Investments in subsidiaries	16,297,416		26,057,892		15,500,336		—		(57,855,644		)	—
Trademarks, net	—		4,659,800		624,300		6,846,773		—			12,130,873
Other intangibles, net	—		804,370		666,472		887,939		—			2,358,781
Long-term lending due from affiliates	—		—		3,305,383		202,767		(3,508,150		)	—
Other non-current assets	—		660,829		106,116		538,070		—			1,305,015
Total other non-current assets	16,297,416		32,182,891		28,757,333		14,990,885		(61,363,794		)	30,864,731
Total assets	$	16,297,416	$	34,398,561	$	31,151,112	$	21,160,354	$	(64,035,095	)	$	38,972,348

Successor

H. J. Heinz Corporation II and Subsidiaries

Condensed Consolidating Balance Sheets

As of December 29, 2013

	Holdings		Issuer		Guarantors		Non-Guarantors		Eliminations			Consolidated
LIABILITIES AND STOCKHOLDERS EQUITY	(In thousands)
Current liabilities:
Short-term debt	$	—	$	—	$	—	$	143,689	$	—		$	143,689
Short-term lending due to affiliates	—		9,589		2,408,903		23,846		(2,442,338		)	—
Portion of long-term debt due within one year	—		95,000		430		12,335		—			107,765
Trade payables	—		13,389		326,636		852,049		—			1,192,074
Payables due to affiliates	—		49,265		60,488		56,591		(166,344		)	—
Other payables	—		16,349		2,569		129,275		—			148,193
Accrued trade promotions and marketing	—		—		80,892		289,437		—			370,329
Other accrued liabilities	—		226,289		148,609		406,841		(21,118		)	760,621
Income taxes	—		192,282		2,120		49,287		(41,501		)	202,188
Total current liabilities	—		602,163		3,030,647		1,963,350		(2,671,301		)	2,924,859
Long-term debt and other non-current liabilities:
Long-term debt	—		12,568,819		1,772,244		276,583		—			14,617,646
Long-term borrowings due to affiliates	—		2,000,000		202,766		1,554,633		(3,757,399		)	—
Deferred income taxes	—		2,554,207		186,722		1,419,974		—			4,160,903
Non-pension post-retirement benefits	—		3,732		138,136		54,504		—			196,372
Other non-current liabilities	—		372,224		35,989		121,212		—			529,425
Total long-term debt and other non-current liabilities	—		17,498,982		2,335,857		3,426,906		(3,757,399		)	19,504,346
Redeemable noncontrolling interest	—		—		—		29,885		—			29,885
Total shareholder equity	16,297,416		16,297,416		25,784,608		15,524,371		(57,606,395		)	16,297,416
Noncontrolling interest	—		—		—		215,842		—			215,842
Total equity	16,297,416		16,297,416		25,784,608		15,740,213		(57,606,395		)	16,513,258
Total liabilities and equity	$	16,297,416	$	34,398,561	$	31,151,112	$	21,160,354	$	(64,035,095	)	$	38,972,348

Successor

H. J. Heinz Corporation II and Subsidiaries

Condensed Consolidating Statements of Cash Flows

For the Nine Months Ended September 28, 2014

	Holdings			Issuer			Guarantors			Non-Guarantors			Eliminations			Consolidated
Operating Activities:	(In thousands)
Cash provided by operating activities	$	416,516		$	205,608		$	572,502		$	1,030,123		$	(892,468	)	$	1,332,281
Investing activities:
Capital expenditures	—			(44,885		)	(108,303		)	(94,262		)	—			(247,450		)
Net payments on intercompany lending activities	—			(273,027		)	(240,300		)	(44,333		)	557,660			—
Return of capital	123,484			—			—			—			(123,484		)	—
Other items, net	—			14,072			18,533			5,626			—			38,231
Cash provided by/(used for) investing activities	123,484			(303,840		)	(330,070		)	(132,969		)	434,176			(209,219		)
Financing activities:
Payments on long-term debt	—			(71,250		)	(674		)	(2,673		)	—			(74,597		)
Proceeds from long-term debt	—			—			—			1,586			—			1,586
Net proceeds/(payments) on intercompany borrowing activities	—			648,532			(115,518		)	24,646			(557,660		)	—
Net payments on commercial paper and short-term debt	—			—			—			(11,338		)	—			(11,338		)
Dividends	(540,000		)	(540,000		)	(475,952		)	—			1,015,952			(540,000		)
Other items, net	—			13,794			—			—			—			13,794
Cash (used for)/provided by financing activities	(540,000		)	51,076			(592,144		)	12,221			458,292			(610,555		)
Effect of exchange rate changes on cash and cash equivalents	—			—			—			(117,390		)	—			(117,390		)
Net (decrease)/increase in cash and cash equivalents	—			(47,156		)	(349,712		)	791,985			—			395,117
Cash and cash equivalents at beginning of period	—			48,396			943,741			1,466,855			—			2,458,992
Cash and cash equivalents at end of period	$	—		$	1,240		$	594,029		$	2,258,840		$	—		$	2,854,109

Successor

H. J. Heinz Corporation II and Subsidiaries

Condensed Consolidating Statements of Cash Flows

For the Period February 8 - September 22, 2013

	Holdings			Issuer			Guarantors			Non-Guarantors			Eliminations			Consolidated
Operating Activities:	(In thousands)
Cash (used for)/provided by operating activities	$	—		$	(201,763	)	$	196		$	233,187		$	(223,922	)	$	(192,302	)
Investing activities:
Capital expenditures	—			(14,698		)	(12,381		)	(44,056		)	—			(71,135		)
Net proceeds/(payments) on intercompany lending activities	—			284,606			(5,161		)	149,030			(428,475		)	—
Additional investments in subsidiaries	(16,500,000		)	—			—			—			16,500,000			—
Acquisition of business, net of cash on hand	—			(23,564,251		)	407,067			1,662,897			—			(21,494,287		)
Return of capital	180,000			—			—			—			(180,000		)	—
Change in restricted cash	—			—			—			—			—			—
Other items, net	—			—			(3,126		)	(163		)	—			(3,289		)
Cash (used for)/provided by investing activities	(16,320,000		)	(23,294,343		)	386,399			1,767,708			15,891,525			(21,568,711		)
Financing activities:
Payments on long-term debt	—			(1,683,918		)	(950,037		)	(11,951		)	—			(2,645,906		)
Proceeds from long-term debt	—			12,568,875			—			4,859			—			12,573,734
Debt issuance costs	—			(320,824		)	—			—			—			(320,824		)
Net (payments)/proceeds on intercompany borrowing activities	—			(1,809,129		)	1,449,730			(69,076		)	428,475			—
Net payments on commercial paper and short-term debt	—			(1,600,000		)	—			(56,924		)	—			(1,656,924		)
Dividends	(180,000		)	(180,000		)	(114,461		)	(109,461		)	403,922			(180,000		)
Capital contribution	16,500,000			16,500,000			—			—			(16,500,000		)	16,500,000
Other items, net	—			22,214			3,570			289			—			26,073
Cash provided by/(used for) financing activities	16,320,000			23,497,218			388,802			(242,264		)	(15,667,603		)	24,296,153
Effect of exchange rate changes on cash and cash equivalents	—			—			—			(3,630		)	—			(3,630		)
Net increase in cash and cash equivalents	—			1,112			775,397			1,755,001			—			2,531,510
Cash and cash equivalents at beginning of period	—			—			—			—			—			—
Cash and cash equivalents at end of period	$	—		$	1,112		$	775,397		$	1,755,001		$	—		$	2,531,510

Predecessor

H. J. Heinz Corporation II and Subsidiaries

Condensed Consolidating Statements of Cash Flows

For the Period December 24, 2012 - June 7, 2013

	Holdings	Issuer			Guarantors			Non-Guarantors			Eliminations			Consolidated
Operating Activities:	(In thousands)
Cash provided by operating activities	NA	$	403,272		$	379,863		$	440,752		$	(556,336	)	$	667,551
Investing activities:
Capital expenditures	NA	(2,764		)	(123,740		)	(164,913		)	—			(291,417		)
Net payments on intercompany lending activities	NA	(859,093		)	(586,335		)	(558,875		)	2,004,303			—
Other intercompany investing transactions	NA	(282,572		)	261,544			—			21,028			—
Other items, net	NA	(1,475		)	31,992			2,745			—			33,262
Cash used for investing activities	NA	(1,145,904		)	(416,539		)	(721,043		)	2,025,331			(258,155		)
Financing activities:
Payments on long-term debt	NA	(306,354		)	(137,674		)	(5,819		)	—			(449,847		)
Proceeds from long-term debt	NA	—			—			4,968			—			4,968
Net (payments)/proceeds on intercompany borrowing activities	NA	(263,991		)	1,856,899			411,395			(2,004,303		)	—
Net proceeds/(payments) on commercial paper and short-term debt	NA	1,600,000			(1,269,101		)	(33,684		)	—			297,215
Dividends	NA	(331,654		)	(446,065		)	(110,271		)	556,336			(331,654		)
Exercise of stock options	NA	19,387			—			—			—			19,387
Purchase of treasury stock	NA	(17,762		)	—			—			—			(17,762		)
Other intercompany capital stock transactions	NA	(4,000		)	285,739			(260,711		)	(21,028		)	—
Other items, net	NA	47,010			(44,343		)	(6,340		)	—			(3,673		)
Cash provided by/(used for) financing activities	NA	742,636			245,455			(462		)	(1,468,995		)	(481,366		)
Effect of exchange rate changes on cash and cash equivalents	NA	—			—			(140,483		)	—			(140,483		)
Net increase/(decrease) in cash and cash equivalents	NA	4			208,779			(421,236		)	—			(212,453		)
Cash and cash equivalents at beginning of period	NA	—			198,288			2,084,132			—			2,282,420
Cash and cash equivalents at end of period	NA	$	4		$	407,067		$	1,662,896		$	—		$	2,069,967

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Financing Arrangements

9 Months Ended

Sep. 28, 2014

Transfers and Servicing [Abstract]

Financing Arrangements

Financing Arrangements

On May 28, 2014, the Company entered into an amendment of the $175 million accounts receivable securitization program that extended the term until May 27, 2015. As a result of the amendment, the limit has been reduced to $150 million and the Company now accounts for transfers of receivables pursuant to this program as a sale and it removes them from the consolidated balance sheet. For the sale of receivables under the program, the Company receives cash consideration of up to $150 million and a receivable for the remainder of the purchase price (the "Deferred Purchase Price"). The cash consideration and the carrying amount of receivables removed from the condensed consolidated balance sheet was $150.0 million as of September 28, 2014. The fair value of the Deferred Purchase Price was $63.2 million as of September 28, 2014 which is included as a trade receivable on the condensed consolidated balance sheet and has a carrying value which approximates fair value as of September 28, 2014, due to the nature of the short-term underlying financial assets.

Prior to this amendment and subsequent to a May 31, 2013 amendment, the Company accounted for transfers of receivables pursuant to this program as secured borrowings, and the receivables sold pursuant to this program were included on the balance sheet as trade receivables, along with the Deferred Purchase price.

On August 29, 2014, the Company entered into a new $70 million Australian dollar and $50 million New Zealand dollar accounts receivable factoring program with a bank, replacing an existing arrangement with a different bank. These limits are net of the Deferred Purchase Price. This is a one year agreement that automatically continues after one year until either the Company or the bank decides to terminate it. The Company accounts for transfers of receivables pursuant to this program as a sale, and it removes them from the consolidated balance sheet. For the sale of receivables under the program, the Company receives cash consideration of up to $70 million Australian dollars and $50 million New Zealand dollars and a receivable for the Deferred Purchase Price. The cash consideration and the carrying amount of receivables removed from the condensed consolidated balance sheet was $57.8 million as of September 28, 2014 (and $40.3 million at December 29, 2013 under the prior program). The fair value of the Deferred Purchase Price was $31.8 million as of September 28, 2014 which is included as a trade receivable on the condensed consolidated balance sheet and has a carrying value which approximates fair value as of September 28, 2014, due to the nature of the short-term underlying financial assets.

In addition, the Company acted as servicer for approximately $28.4 million and $36.2 million of trade receivables which were sold to unrelated third parties without recourse as of September 28, 2014 and December 29, 2013, respectively. These trade receivables are short-term in nature. The proceeds from these sales are recognized on the condensed consolidated statements of cash flows as a component of operating activities.

The Company has not recorded any servicing assets or liabilities as of September 28, 2014 and December 29, 2013 for the arrangements discussed above because the fair value of these servicing agreements as well as the fees earned were not material to the financial statements.

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Pensions and Other Postretirement Benefits

9 Months Ended

Sep. 28, 2014

Compensation and Retirement Disclosure [Abstract]

Pensions and Other Postretirement Benefits

Pensions and Other Post-Retirement Benefits

The Company's employees participate in various employee benefit plans that were in place prior to the acquisition.

The components of net periodic benefit (income)/expense are as follows:

	Successor						Successor
	Pension Benefits						Other Retiree Benefits
	June 30 - September 28, 2014			June 24 - September 22, 2013			June 30 - September 28, 2014			June 24 - September 22, 2013
	(In thousands)
Service cost	$	7,303		$	9,555		$	1,430		$	1,640
Interest cost	34,959			33,190			2,209			2,334
Expected return on plan assets	(56,206		)	(53,720		)	—			—
Amortization of prior service cost/(credit)	—			—			(1,577		)	—
Amortization of unrecognized (gain)/loss	(16		)	—						—
Special Termination Benefits	1,784			—			—			—
Curtailment (gains) and settlement losses	(1,494		)	—			(6,868		)	—
Net periodic benefit (income)/expense	$	(13,670	)	$	(10,975	)	$	(4,806	)	$	3,974

	Successor						Predecessor			Successor					Predecessor
	Pension Benefits									Other Retiree Benefits
	December 30, 2013 - September 28, 2014			February 8 - September 22, 2013			December 24, 2012 - June 7, 2013			December 30, 2013 - September 28, 2014			February 8 - September 22, 2013		December 24, 2012 - June 7, 2013
	(In thousands)
Service cost	$	22,353		$	10,950		$	14,673		$	4,256		$	1,905	$	2,909
Interest cost	105,320			38,342			57,912			6,591			2,705		4,260
Expected return on plan assets	(166,631		)	(63,750		)	(111,162		)	—			—		—
Amortization of prior service cost/(credit)	—			—			1,077			(4,731		)	—		(2,736		)
Amortization of unrecognized (gain)/loss	(47		)	—			35,759			—			—		823
Special Termination Benefits	1,784			—			17,230			—			—		—
Curtailment (gains) and settlement losses	(2,289		)	—			3,177			(6,868		)	—		—
Net periodic benefit (income)/expense	$	(39,510	)	$	(14,458	)	$	18,666		$	(752	)	$	4,610	$	5,256

The Company realized a curtailment gain of $1.5 million and $6.9 million on the Canadian defined benefit and post retirement medical plans, respectively, and as a result remeasured the projected benefit obligation which resulted in an adjustment of $25.5 million to accumulated other comprehensive income, net of tax for three months ended September 28, 2014.

The Company realized a curtailment gain of $0.8 million on the United Kingdom defined benefit plans and as a result remeasured the projected benefit obligation which resulted in an adjustment of $27.9 million to accumulated other comprehensive income, net of tax for six months ended June 29, 2014.

The Company elected to accelerate vesting of benefits under certain supplemental retirement plans upon consummation of the Merger. The expense associated with the accelerated vesting of $17.2 million was recognized in the Predecessor periods ended June 7, 2013.

The amounts recognized for pension benefits as Other non-current assets on the Company's condensed consolidated balance sheets were $549.5 million as of September 28, 2014 and $502.2 million as of December 29, 2013.

During the first nine months of 2014, the Company contributed $60 million to these defined benefit plans. The Company expects to make combined cash contributions of approximately $94 million for the year ended December 28, 2014.  However, actual contributions may be affected by pension asset and liability valuations during the year.

During the first quarter of 2014, the Company announced its intention to terminate the salaried and non-union US defined benefit plan effective April 30, 2014. The Company wound up the Canadian salaried and Canadian hourly defined benefit plans effective March 28, 2014 and July 15, 2014, respectively These announcements had no impact on the condensed consolidated statements of operations, condensed consolidated balance sheet or condensed consolidated statement of cash flows as at and for the three and nine months ended September 28, 2014.

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Venezuela - Foreign Currency and Inflation (Details) In Millions, unless otherwise specified	3 Months Ended	9 Months Ended					3 Months Ended
	Sep. 28, 2014 USD ($)	Sep. 28, 2014 USD ($)	Sep. 28, 2014 VEF	Mar. 24, 2014 VEF	Feb. 08, 2013 VEF	Feb. 07, 2013 VEF	Mar. 24, 2013 VENEZUELA USD ($)	Sep. 28, 2014 VENEZUELA USD ($)	Sep. 28, 2014 VENEZUELA VEB
Foreign Currency [Line Items]
Foreign Currency Exchange Rate, Remeasurement			51.86	49.02	6.30	4.30
Foreign Currency Transaction Gain (Loss), Realized	$ 2.0	$ 22.9					$ (42.9)
Monetary assets, net of monetary liabilities, subject to an earnings impact from exchange rate movements for Venezuelan subsidiary under highly inflationary accounting								144.4
Net monetary assets and liabilities converted using SICAD II mechanism under highly inflationary accounting	$ 3.1	$ 3.1							164.3

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Income Taxes

9 Months Ended

Sep. 28, 2014

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

The provision for income taxes consists of provisions for federal, state and foreign income taxes. The Company operates in an international environment with almost 70% of its sales outside the U.S.  Accordingly, the consolidated income tax rate is a composite rate reflecting the earnings in various locations and the applicable tax rates. In the normal course of business, the Company is subject to examination by taxing authorities throughout the world, including such major jurisdictions as Australia, Canada, Italy, Netherlands, United Kingdom and United States. The Company has substantially concluded all national income tax matters for years through Fiscal 2011 for the United Kingdom and Netherlands, through Fiscal 2010 for the U.S., through Fiscal 2009 for Australia and Canada, and through Fiscal 2008 for Italy.

Tax expense was $124.9 million or 19.8% of pretax income for the nine months ended September 28, 2014, compared with a tax benefit of $186.9 million or 80.4% of pretax loss for the Successor period from February 8 to September 22, 2013, and tax expense of $160.2 million or 53.1% of pretax income for the Predecessor period from December 24, 2012 to June 7, 2013. The Predecessor period effective tax rate is higher than the current and prior year Successor periods' effective tax rates primarily due to significant repatriation costs incurred as a result of distributions of foreign earnings during the Predecessor period. The prior year Successor period included a $106.7 million benefit related to the impact on deferred taxes of a 300 basis point statutory tax rate reduction in the United Kingdom which was enacted during July 2013. Both the Predecessor and prior year Successor periods included nondeductible transaction costs which increased the effective tax rate in comparison with the current period. The Company's effective tax rate in 2014 is lower than the federal statutory rate of 35% primarily due to lower tax rates on earnings in certain foreign jurisdictions and the effects of tax free interest.

The total amount of gross unrecognized tax benefits for uncertain tax positions, including positions impacting only the timing of tax benefits, was $68.3 million and $53.1 million on September 28, 2014 and December 29, 2013, respectively. The amount of unrecognized tax benefits that, if recognized, would impact the effective tax rate was $54.9 million and $44.9 million on September 28, 2014 and December 29, 2013, respectively. It is reasonably possible that the amount of unrecognized tax benefits will decrease by as much as $23.4 million in the next 12 months primarily due to the progression of federal, state and foreign audits in process.

The Company classifies interest and penalties on tax uncertainties as a component of the provision for income taxes. The total amounts of interest accrued at September 28, 2014 and December 29, 2013 were $13.3 million and $10.7 million, respectively. The corresponding amounts of accrued penalties at September 28, 2014 and December 29, 2013 were $8.3 million and $8.5 million, respectively.

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Employees' Stock Incentive Plans and Management Incentive Plans

9 Months Ended

Sep. 28, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Employees' Stock Incentive Plans and Management Incentive Plans

Employees’ Stock Incentive Plans and Management Incentive Plans

In October 2013, the Board adopted the H. J. Heinz Holding Corporation 2013 Omnibus Incentive Plan (the “2013 Omnibus Plan”) which authorizes the issuance of up to 39,600,000 shares of our Parent's capital stock. On October 16, 2013, the Company granted non-qualified stock options to purchase up to 14,300,000 shares of Common Stock in H. J. Heinz Holding Corporation to select employees and Directors with cliff vesting on July 1, 2018, provided the employee is continuously employed by Parent or one of its subsidiaries or affiliates.

On February 14, 2014 and May 21, 2014, Parent granted non-qualified stock options under the 2013 Omnibus Plan to purchase up to 3,878,805 and 4,700,000 shares respectively of Common Stock in Parent to select employees with a five-year cliff vesting, provided the employee is continuously employed by Parent or one of its subsidiaries or affiliates. The February 14, 2014 options were issued in conjunction with a program ("Bonus Swap Program") whereby participants could elect to use a portion of their calculated non-equity incentive compensation (after all required taxes and deductions) to purchase shares of Common Stock in Parent. Participants who elected to purchase such shares were granted matching stock options.

Of the options granted on October 16, 2013, February 14, 2014 and May 21, 2014 there were 11,925,000, 3,561,875 and 4,675,000, respectively, of such options outstanding as of September 28, 2014. The change in number of options from the initial grant was due to new options granted or forfeitures. With respect to the shares underlying the options granted on these dates, the exercise price is $10.00 per share. For options granted on October 16, 2013, February 14, 2014 and May 21, 2014, the weighted-average grant date fair value of the options granted was $2.43, $2.43 and $2.46 per share, respectively.

The weighted average assumptions used to estimate the fair values are as follows:

	Successor
	Nine Months Ended
	Stock Options Granted October 16, 2013			Stock Options Granted February 14, 2014			Stock Options Granted May 21, 2014
Exercise price	$	10.00		$	10.00		$	10.00
Risk-free interest rate	1.41		%	1.41		%	1.55		%
Expected term (in years)	5.0			5.0			5.0
Expected volatility	24.3		%	24.3		%	24.3		%
Expected forfeiture rate	5.0		%	5.0		%	5.0		%
Expected dividend yield	—		%	—		%	—		%

The compensation cost related to equity plans primarily recognized in SG&A and Merger related costs, and the related tax benefit, are as follows:

	Successor
	June 30 - September 28, 2014		June 24 - September 22, 2013
	(In millions)
Pre-tax compensation cost	$	2.6	$	1.9
Tax benefit	0.9		0.6
After-tax compensation cost	$	1.7	$	1.3

	Successor				Predecessor
	December 30, 2013 - September 28, 2014		February 8 - September 22, 2013		December 24, 2012 - June 7, 2013
	(In millions)
Pre-tax compensation cost	$	6.2	$	1.9	$	36.4
Tax benefit	2.1		0.6		11.2
After-tax compensation cost	$	4.1	$	1.3	$	25.2

Unrecognized compensation cost related to unvested stock option awards under the 2013 Omnibus Plan was $41.5 million as of September 28, 2014.

In connection with the Merger and in accordance with the change in control provisions, all outstanding stock option awards, restricted stock units (except for retention RSUs) and restricted stock awards issued pursuant to various shareholder-approved plans and a shareholder-authorized employee stock purchase plan were automatically canceled and converted into the right to receive $72.50 in cash on June 7, 2013.

In the predecessor period ended June 7, 2013, the Company granted performance awards as permitted in the Fiscal Year 2003 Stock Incentive Plan, subject to the achievement of certain performance goals. These performance awards were tied to the Company’s Relative Total Shareholder Return (“Relative TSR”) Ranking within the defined Long-Term Performance Program (“LTPP”) peer group and the two-year average after-tax Return on Invested Capital (“ROIC”) metrics. The Relative TSR metric was based on the two-year cumulative return to shareholders from the change in stock price and dividends paid between the starting and ending dates. These LTPP awards were settled in connection with the Merger.

The compensation cost related to LTPP awards primarily recognized in SG&A and the related tax benefit during the Predecessor periods presented are as follows (there was no compensation cost related to LTPP awards in the Successor periods):

	Predecessor
	December 24, 2012 - June 7, 2013
	(In millions)
Pre-tax compensation cost	$	8.1
Tax benefit	2.8
After-tax compensation cost	$	5.3

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Comprehensive Income

9 Months Ended

Sep. 28, 2014

Equity [Abstract]

Comprehensive Income

Comprehensive Income

The following tables summarize the allocation of total comprehensive income between H. J. Heinz Corporation II and the noncontrolling interest for the third quarters ended September 28, 2014 and September 22, 2013, respectively:

	Successor
	June 30 - September 28, 2014									June 24 - September 22, 2013
	H. J. Heinz Corporation II			Non-controlling Interest			Total			H. J. Heinz Corporation II			Non-controlling Interest			Total
	(In thousands)
Net income/(loss)	$	171,618		$	2,363		$	173,981		$	(11,767	)	$	2,363		$	(9,404	)
Other comprehensive (loss)/income, net of tax:
Foreign currency translation adjustments (losses)/gains	(708,453		)	(4,177		)	(712,630		)	298,402			(10,395		)	288,007
Net deferred gains on net investment hedges from periodic revaluations	268,375			—			268,375			—			—			—
Net pension and post-retirement benefit losses	(25,481		)	—			(25,481		)	—			—			—
Net pension and post-retirement benefit gains reclassified to earnings	(986		)	—			(986		)	—			—			—
Net deferred gains/(losses) on derivatives from periodic revaluations	23,164			(65		)	23,099			(3,609		)	286			(3,323		)
Net deferred losses/(gains) on derivatives reclassified to earnings	3,782			83			3,865			(1,180		)	(39		)	(1,219		)
Total comprehensive (loss)/income	$	(267,981	)	$	(1,796	)	$	(269,777	)	$	281,846		$	(7,785	)	$	274,061

	Successor																		Predecessor
	December 30, 2013 - September 28, 2014									February 8 - September 22, 2013									December 24, 2012 - June 7, 2013
	H. J. Heinz Corporation II			Non-controlling Interest			Total			H. J. Heinz Corporation II			Non-controlling Interest			Total			H. J. Heinz Corporation II			Non-controlling Interest			Total
	(In thousands)
Net income/(loss)	$	493,537		$	13,449		$	506,986		$	(52,911	)	$	2,370		$	(50,541	)	$	95,002		$	6,685		$	101,687
Other comprehensive (loss)/income, net of tax:
Foreign currency translation adjustments (losses)/gains	(416,748		)	(1,105		)	(417,853		)	136,589			(16,068		)	120,521			(231,442		)	(5,053		)	(236,495		)
Net deferred gains on net investment hedges from periodic revaluations	108,541			—			108,541			—			—			—			—			—			—
Net pension and post-retirement benefit losses	(53,366		)	—			(53,366		)	—			—			—			(189,294		)	—			(189,294		)
Net pension and post-retirement benefit (gains)/losses reclassified to earnings	(2,965		)	—			(2,965		)	—			—			—			26,908			(41		)	26,867
Net deferred (losses)/gains on derivatives from periodic revaluations	(135,800		)	(421		)	(136,221		)	103,693			286			103,979			(5,018		)	40			(4,978		)
Net deferred (gains)/losses on derivatives reclassified to earnings	(176		)	(17		)	(193		)	(1,180		)	(39		)	(1,219		)	22,670			4			22,674
Total comprehensive (loss)/income	$	(6,977	)	$	11,906		$	4,929		$	186,191		$	(13,451	)	$	172,740		$	(281,174	)	$	1,635		$	(279,539	)

The tax (expense)/benefit associated with each component of other comprehensive income/(loss) is as follows:

	H. J. Heinz Corporation II			Noncontrolling Interest			Total
	(In thousands)
Successor
June 24 - September 22, 2013
Net pension and post-retirement benefit (losses)/gains	$	—		$	—		$	—
Net pension and post-retirement benefit (gains)/losses reclassified to earnings	$	—		$	—		$	—
Net deferred (losses)/gains on derivatives from periodic revaluations	$	(722	)	$	(95	)	$	(817	)
Net deferred (gains)/losses on derivatives reclassified to earnings	$	(288	)	$	(13	)	$	(301	)
June 30 - September 28, 2014
Net deferred gains on net investment hedges from periodic revaluations	$	(165,920	)	$	—		$	(165,920	)
Net pension and post-retirement benefit (losses)/gains	$	8,809		$	—		$	8,809
Net pension and post-retirement benefit (gains)/losses reclassified to earnings	$	(607	)	$	—		$	(607	)
Net deferred (losses)/gains on derivatives from periodic revaluations	$	(14,597	)	$	22		$	(14,575	)
Net deferred (gains)/losses on derivatives reclassified to earnings	$	(1,748	)	$	28		$	(1,720	)

	H. J. Heinz Corporation II			Noncontrolling Interest			Total
	(In thousands)
Predecessor
December 24, 2012 - June 7, 2013
Net pension and post-retirement benefit (losses)/gains	$	75,526		$	—		$	75,526
Net pension and post-retirement benefit (gains)/losses reclassified to earnings	$	11,191		$	—		$	11,191
Net deferred (losses)/gains on derivatives from periodic revaluations	$	13,484		$	(13	)	$	13,471
Net deferred losses on derivatives reclassified to earnings	$	22,118		$	1		$	22,119
Successor
February 8 - September 22, 2013
Net change in fair value of net investment hedges	$	—		$	—		$	—
Net pension and post-retirement benefit (losses)/gains	$	—		$	—		$	—
Net pension and post-retirement benefit (gains)/losses reclassified to earnings	$	—		$	—		$	—
Net deferred (losses)/gains on derivatives from periodic revaluations	$	(55,735	)	$	(95	)	$	(55,830	)
Net deferred gains on derivatives reclassified to earnings	$	(288	)	$	(13	)	$	(301	)
December 30, 2013 - September 28, 2014
Net deferred gains on net investment hedges from periodic revaluations	$	(67,235	)	$	—		$	(67,235	)
Net pension and post-retirement benefit (losses)/gains	$	15,780		$	—		$	15,780
Net pension and post-retirement benefit (gains)/losses reclassified to earnings	$	(1,813	)	$	—		$	(1,813	)
Net deferred (losses)/gains on derivatives from periodic revaluations	$	64,099		$	141		$	64,240
Net deferred gains on derivatives reclassified to earnings	$	(6,911	)	$	(6	)	$	(6,917	)

The following table provides a summary of the changes in the carrying amount of accumulated other comprehensive (loss)/income, net of tax, by component attributable to H. J. Heinz Corporation II:

	Foreign currency translation adjustments			Net pension and post retirement benefit			Net cash flow hedges			Total
Successor	(In thousands)
Balance as of December 29, 2013	$	22,548		$	102,464		$	107,998		$	233,010
Foreign currency translation adjustments	(416,748		)	—			—			(416,748		)
Net deferred gains on net investment hedges from periodic revaluations	108,541			—			—			108,541
Net pension and post-retirement benefit (losses)/gains	—			(53,366		)	—			(53,366		)
Net pension and post-retirement benefit (gains)/losses reclassified to earnings	—			(2,965		)	—			(2,965		)
Net deferred losses on derivatives from periodic revaluations	—			—			(135,800		)	(135,800		)
Net deferred (gains)/losses on derivatives reclassified to earnings	—			—			(176		)	(176		)
Net current-period other comprehensive loss	$	(308,207	)	$	(56,331	)	$	(135,976	)	$	(500,514	)
Balance as of September 28, 2014	$	(285,659	)	$	46,133		$	(27,978	)	$	(267,504	)

The following table presents the affected earnings line for reclassifications out of accumulated other comprehensive income/(loss), net of tax, by component attributable to H. J. Heinz Corporation II for the third quarters and nine months ended September 28, 2014 and September 22, 2013:

Accumulated other comprehensive income/(loss) component	Reclassified from accumulated other comprehensive income/(loss) to earnings						Line affected by reclassification
	(In thousands)
	Successor
	June 30 - September 28, 2014			June 24 - September 22, 2013
Gains/(losses) on cash flow hedges:
Foreign exchange contracts	$	(624	)	$	125		Sales
Foreign exchange contracts	(1,558		)	650			Cost of products sold
Foreign exchange contracts	—			(19		)	Selling, general, and administrative expenses
Foreign exchange contracts	148			672			Other expense
Foreign exchange contracts	—			—			Interest expense
Interest rate contracts	—			40			Interest expense
Cross-currency interest rate swap contracts	—			—			Other expense
Cross-currency interest rate swap contracts	—			—			Interest expense
	$	(2,034	)	$	1,468		Gains/(losses) from continuing operations before income tax
	(1,748		)	(288		)	Provision for income taxes
	$	(3,782	)	$	1,180		Gains/(losses) from continuing operations
Gains/(losses) on pension and post retirement benefit:
Amortization of unrecognized gain/(loss)	$	16		$	—		(a)
Prior service credit/(cost)	1,577			—			(a)
Settlement loss	—			—			(a)
	$	1,593		$	—		Gains/(losses) from continuing operations before income tax
	(607		)	—			Provision for income taxes
	$	986		$	—		Gains/(losses) from continuing operations

______________________________________

(a) As these components are included in the computation of net periodic pension and post-retirement benefit costs refer to Note 10 for further details.

Accumulated other comprehensive income/(loss) component	Reclassified from accumulated other comprehensive income/(loss) to earnings									Line affected by reclassification
	(In thousands)
	Successor						Predecessor
	December 30, 2013 - September 28, 2014			February 8 - September 22, 2013			December 24, 2012 - June 7, 2013
Gains/(losses) on cash flow hedges:
Foreign exchange contracts	$	(967	)	$	125		$	4,836		Sales
Foreign exchange contracts	7,207			650			4,695			Cost of products sold
Foreign exchange contracts	(125		)	(19		)	—			Selling, general, and administrative expenses
Foreign exchange contracts	966			672			9,761			Other expense
Foreign exchange contracts	6			—			230			Interest expense
Interest rate contracts	—			40			(98		)	Interest expense
Cross-currency interest rate swap contracts	—			—			(52,447		)	Other expense
Cross-currency interest rate swap contracts	—			—			(11,765		)	Interest expense
	$	7,087		$	1,468		$	(44,788	)	Gains/(losses) from continuing operations before income tax
	(6,911		)	(288		)	22,118			Provision for income taxes
	$	176		$	1,180		$	(22,670	)	Gains/(losses) from continuing operations
Gains/(losses) on pension and post retirement benefit:
Amortization of unrecognized gains/(losses)	$	47		$	—		$	(36,582	)	(a)
Prior service credit/(cost)	4,731			—			1,659			(a)
Settlement loss	—			—			(3,176		)	(a)
	$	4,778		$	—		$	(38,099	)	Gains/(losses) from continuing operations before income tax
	(1,813		)	—			11,191			Provision for income taxes
	$	2,965		$	—		$	(26,908	)	Gains/(losses) from continuing operations

______________________________________

(a) As these components are included in the computation of net periodic pension and post-retirement benefit costs refer to Note 10 for further details.

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Supplemental Financial Information (Condensed Consolidating Statement of Cash Flows) (Details) (USD $) In Thousands, unless otherwise specified	6 Months Ended	7 Months Ended	9 Months Ended
	Jun. 07, 2013	Sep. 22, 2013	Sep. 28, 2014
Operating Activities:
Cash provided by operating activities	$ 667,551	$ (192,302)	$ 1,332,281
Investing activities:
Capital expenditures	(291,417)	(71,135)	(247,450)
Net payments on intercompany lending activities	0	0	0
Additional investments in subsidiaries		0
Acquisition of business, net of cash on hand		(21,494,287)
Return of capital		0	0
Change in restricted cash		0
Other intercompany investing transactions	0
Other items, net	33,262	(3,289)	38,231
Cash used for investing activities	(258,155)	(21,568,711)	(209,219)
Financing activities:
Payments on long-term debt	(449,847)	(2,645,906)	(74,597)
Proceeds from long-term debt and capital securities			1,586
Proceeds from long-term debt	4,968	12,573,734
Debt issuance costs		(320,824)
Net proceeds/(payments) on intercompany borrowing activities	0	0	0
Net payments on commercial paper and short-term debt	297,215	(1,656,924)	(11,338)
Dividends	(331,654)	(180,000)	(540,000)
Capital contributions		16,500,000
Exercise of stock options	19,387
Purchase of treasury stock	(17,762)
Other intercompany capital stock transactions	0
Other items, net	(3,673)	26,073	13,794
Cash (used for)/provided by financing activities	(481,366)	24,296,153	(610,555)
Effect of exchange rate changes on cash and cash equivalents	(140,483)	(3,630)	(117,390)
Net (decrease)/increase in cash and cash equivalents	(212,453)	2,531,510	395,117
Cash and cash equivalents	2,069,967	2,531,510	2,854,109
Parent
Operating Activities:
Cash provided by operating activities		0	416,516
Investing activities:
Capital expenditures		0	0
Net payments on intercompany lending activities		0	0
Additional investments in subsidiaries		(16,500,000)
Acquisition of business, net of cash on hand		0
Return of capital		180,000	123,484
Change in restricted cash		0
Other items, net		0	0
Cash used for investing activities		(16,320,000)	123,484
Financing activities:
Payments on long-term debt		0	0
Proceeds from long-term debt and capital securities			0
Proceeds from long-term debt		0
Debt issuance costs		0
Net proceeds/(payments) on intercompany borrowing activities		0	0
Net payments on commercial paper and short-term debt		0	0
Dividends		(180,000)	(540,000)
Capital contributions		16,500,000
Other items, net		0	0
Cash (used for)/provided by financing activities		16,320,000	(540,000)
Effect of exchange rate changes on cash and cash equivalents		0	0
Net (decrease)/increase in cash and cash equivalents		0	0
Cash and cash equivalents		0	0
Issuer
Operating Activities:
Cash provided by operating activities	403,272	(201,763)	205,608
Investing activities:
Capital expenditures	(2,764)	(14,698)	(44,885)
Net payments on intercompany lending activities	(859,093)	284,606	(273,027)
Additional investments in subsidiaries		0
Acquisition of business, net of cash on hand		(23,564,251)
Return of capital		0	0
Change in restricted cash		0
Other intercompany investing transactions	(282,572)
Other items, net	(1,475)	0	14,072
Cash used for investing activities	(1,145,904)	(23,294,343)	(303,840)
Financing activities:
Payments on long-term debt	(306,354)	(1,683,918)	(71,250)
Proceeds from long-term debt and capital securities			0
Proceeds from long-term debt	0	12,568,875
Debt issuance costs		(320,824)
Net proceeds/(payments) on intercompany borrowing activities	(263,991)	(1,809,129)	648,532
Net payments on commercial paper and short-term debt	1,600,000	(1,600,000)	0
Dividends	(331,654)	(180,000)	(540,000)
Capital contributions		16,500,000
Exercise of stock options	19,387
Purchase of treasury stock	(17,762)
Other intercompany capital stock transactions	(4,000)
Other items, net	47,010	22,214	13,794
Cash (used for)/provided by financing activities	742,636	23,497,218	51,076
Effect of exchange rate changes on cash and cash equivalents	0	0	0
Net (decrease)/increase in cash and cash equivalents	4	1,112	(47,156)
Cash and cash equivalents	4	1,112	1,240
Guarantors
Operating Activities:
Cash provided by operating activities	379,863	196	572,502
Investing activities:
Capital expenditures	(123,740)	(12,381)	(108,303)
Net payments on intercompany lending activities	(586,335)	(5,161)	(240,300)
Additional investments in subsidiaries		0
Acquisition of business, net of cash on hand		407,067
Return of capital		0	0
Change in restricted cash		0
Other intercompany investing transactions	261,544
Other items, net	31,992	(3,126)	18,533
Cash used for investing activities	(416,539)	386,399	(330,070)
Financing activities:
Payments on long-term debt	(137,674)	(950,037)	(674)
Proceeds from long-term debt and capital securities			0
Proceeds from long-term debt	0	0
Debt issuance costs		0
Net proceeds/(payments) on intercompany borrowing activities	1,856,899	1,449,730	(115,518)
Net payments on commercial paper and short-term debt	(1,269,101)	0	0
Dividends	(446,065)	(114,461)	(475,952)
Capital contributions		0
Exercise of stock options	0
Purchase of treasury stock	0
Other intercompany capital stock transactions	285,739
Other items, net	(44,343)	3,570	0
Cash (used for)/provided by financing activities	245,455	388,802	(592,144)
Effect of exchange rate changes on cash and cash equivalents	0	0	0
Net (decrease)/increase in cash and cash equivalents	208,779	775,397	(349,712)
Cash and cash equivalents	407,067	775,397	594,029
Non-Guarantors
Operating Activities:
Cash provided by operating activities	440,752	233,187	1,030,123
Investing activities:
Capital expenditures	(164,913)	(44,056)	(94,262)
Net payments on intercompany lending activities	(558,875)	149,030	(44,333)
Additional investments in subsidiaries		0
Acquisition of business, net of cash on hand		1,662,897
Return of capital		0	0
Change in restricted cash		0
Other intercompany investing transactions	0
Other items, net	2,745	(163)	5,626
Cash used for investing activities	(721,043)	1,767,708	(132,969)
Financing activities:
Payments on long-term debt	(5,819)	(11,951)	(2,673)
Proceeds from long-term debt and capital securities			1,586
Proceeds from long-term debt	4,968	4,859
Debt issuance costs		0
Net proceeds/(payments) on intercompany borrowing activities	411,395	(69,076)	24,646
Net payments on commercial paper and short-term debt	(33,684)	(56,924)	(11,338)
Dividends	(110,271)	(109,461)	0
Capital contributions		0
Exercise of stock options	0
Purchase of treasury stock	0
Other intercompany capital stock transactions	(260,711)
Other items, net	(6,340)	289	0
Cash (used for)/provided by financing activities	(462)	(242,264)	12,221
Effect of exchange rate changes on cash and cash equivalents	(140,483)	(3,630)	(117,390)
Net (decrease)/increase in cash and cash equivalents	(421,236)	1,755,001	791,985
Cash and cash equivalents	1,662,896	1,755,001	2,258,840
Eliminations
Operating Activities:
Cash provided by operating activities	(556,336)	(223,922)	(892,468)
Investing activities:
Capital expenditures	0	0	0
Net payments on intercompany lending activities	2,004,303	(428,475)	557,660
Additional investments in subsidiaries		16,500,000
Acquisition of business, net of cash on hand		0
Return of capital		(180,000)	(123,484)
Change in restricted cash		0
Other intercompany investing transactions	21,028
Other items, net	0	0	0
Cash used for investing activities	2,025,331	15,891,525	434,176
Financing activities:
Payments on long-term debt	0	0	0
Proceeds from long-term debt and capital securities			0
Proceeds from long-term debt	0	0
Debt issuance costs		0
Net proceeds/(payments) on intercompany borrowing activities	(2,004,303)	428,475	(557,660)
Net payments on commercial paper and short-term debt	0	0	0
Dividends	556,336	403,922	1,015,952
Capital contributions		(16,500,000)
Exercise of stock options	0
Purchase of treasury stock	0
Other intercompany capital stock transactions	(21,028)
Other items, net	0	0	0
Cash (used for)/provided by financing activities	(1,468,995)	(15,667,603)	458,292
Effect of exchange rate changes on cash and cash equivalents	0	0	0
Net (decrease)/increase in cash and cash equivalents	0	0	0
Cash and cash equivalents	$ 0	$ 0	$ 0

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Supplemental Financial Information (Condensed Consolidating Balance Sheet) (Details) (USD $) In Thousands, unless otherwise specified	Sep. 28, 2014	Dec. 29, 2013	Sep. 22, 2013	Jun. 07, 2013	Feb. 08, 2013	Dec. 23, 2012
Current assets:
Cash and cash equivalents	$ 2,854,109	$ 2,458,992	$ 2,531,510	$ 2,069,967	$ 0	$ 2,282,420
Trade receivables	812,038	1,099,655
Other receivables	320,513	244,528
Receivables due from affiliates	0	0
Inventories:
Finished goods and work-in-process	1,185,658	1,138,373
Packaging material and ingredients	226,652	297,023
Total inventories	1,412,310	1,435,396
Prepaid expenses	150,743	145,096
Short-term lending due from affiliates	0	0
Other current assets	86,265	60,458
Total current assets	5,635,978	5,444,125
Property, plant and equipment:
Property, plant and equipment, gross	2,833,856	2,829,491
Less accumulated depreciation	432,154	165,999
Total property, plant and equipment, net	2,401,702	2,663,492
Other non-current assets:
Goodwill	15,167,591	15,070,062
Investments in subsidiaries	0	0
Trademarks, net	11,776,307	12,130,873
Other intangibles, net	1,906,351	2,358,781
Long-term lending due from affiliates	0	0
Other non-current assets	1,167,487	1,305,015
Total other non-current assets	30,017,736	30,864,731
Total assets	38,055,416	38,972,348
Current liabilities:
Short-term debt	904	143,689
Short-term lending due to affiliates	0	0
Portion of long-term debt due within one year	108,538	107,765
Trade payables	1,394,231	1,192,074
Payables due to affiliates	0	0
Other payables	117,446	148,193
Accrued trade promotions and marketing	329,673	370,329
Other accrued liabilities	688,543	760,621
Income taxes	265,987	202,188
Total current liabilities	2,905,322	2,924,859
Long-term debt and other non-current liabilities:
Long-term debt	14,530,430	14,617,646
Long-term borrowings due to affiliates	0	0
Deferred income taxes	3,954,374	4,160,903
Non-pension post-retirement benefits	191,386	196,372
Other non-current liabilities	457,321	529,425
Total long-term liabilities	19,133,511	19,504,346
Redeemable noncontrolling interest	29,315	29,885
Total shareholder equity	15,760,962	16,297,416
Noncontrolling interest	226,306	215,842
Total equity	15,987,268	16,513,258
Total liabilities and equity	38,055,416	38,972,348
Parent
Current assets:
Cash and cash equivalents	0	0	0		0
Trade receivables	0	0
Other receivables	0	0
Receivables due from affiliates	0	0
Inventories:
Finished goods and work-in-process	0	0
Packaging material and ingredients	0	0
Total inventories	0	0
Prepaid expenses	0	0
Short-term lending due from affiliates	0	0
Other current assets	0	0
Total current assets	0	0
Property, plant and equipment:
Property, plant and equipment, gross	0	0
Less accumulated depreciation	0	0
Total property, plant and equipment, net	0	0
Other non-current assets:
Goodwill	0	0
Investments in subsidiaries	15,760,962	16,297,416
Trademarks, net	0	0
Other intangibles, net	0	0
Long-term lending due from affiliates	0	0
Other non-current assets	0	0
Total other non-current assets	15,760,962	16,297,416
Total assets	15,760,962	16,297,416
Current liabilities:
Short-term debt	0	0
Short-term lending due to affiliates	0	0
Portion of long-term debt due within one year	0	0
Trade payables	0	0
Payables due to affiliates	0	0
Other payables	0	0
Accrued trade promotions and marketing	0	0
Other accrued liabilities	0	0
Income taxes	0	0
Total current liabilities	0	0
Long-term debt and other non-current liabilities:
Long-term debt	0	0
Long-term borrowings due to affiliates	0	0
Deferred income taxes	0	0
Non-pension post-retirement benefits	0	0
Other non-current liabilities	0	0
Total long-term liabilities	0	0
Redeemable noncontrolling interest	0	0
Total shareholder equity	15,760,962	16,297,416
Noncontrolling interest	0	0
Total equity	15,760,962	16,297,416
Total liabilities and equity	15,760,962	16,297,416
Issuer
Current assets:
Cash and cash equivalents	1,240	48,396	1,112	4	0	0
Trade receivables	0	0
Other receivables	209,073	39,816
Receivables due from affiliates	77,881	83,618
Inventories:
Finished goods and work-in-process	0	0
Packaging material and ingredients	0	0
Total inventories	0	0
Prepaid expenses	16,385	12,784
Short-term lending due from affiliates	205,529	1,807,502
Other current assets	1,144	0
Total current assets	511,252	1,992,116
Property, plant and equipment:
Property, plant and equipment, gross	271,642	238,618
Less accumulated depreciation	34,505	15,064
Total property, plant and equipment, net	237,137	223,554
Other non-current assets:
Goodwill	0	0
Investments in subsidiaries	27,892,497	26,057,892
Trademarks, net	4,691,000	4,659,800
Other intangibles, net	455,573	804,370
Long-term lending due from affiliates	0	0
Other non-current assets	559,535	660,829
Total other non-current assets	33,598,605	32,182,891
Total assets	34,346,994	34,398,561
Current liabilities:
Short-term debt	0	0
Short-term lending due to affiliates	658,117	9,589
Portion of long-term debt due within one year	95,000	95,000
Trade payables	15,830	13,389
Payables due to affiliates	128,360	49,265
Other payables	24,501	16,349
Accrued trade promotions and marketing	0	0
Other accrued liabilities	207,760	226,289
Income taxes	317,554	192,282
Total current liabilities	1,447,122	602,163
Long-term debt and other non-current liabilities:
Long-term debt	12,501,167	12,568,819
Long-term borrowings due to affiliates	2,000,000	2,000,000
Deferred income taxes	2,421,510	2,554,207
Non-pension post-retirement benefits	5,078	3,732
Other non-current liabilities	211,155	372,224
Total long-term liabilities	17,138,910	17,498,982
Redeemable noncontrolling interest	0	0
Total shareholder equity	15,760,962	16,297,416
Noncontrolling interest	0	0
Total equity	15,760,962	16,297,416
Total liabilities and equity	34,346,994	34,398,561
Guarantors
Current assets:
Cash and cash equivalents	594,029	943,741	775,397	407,067	0	198,288
Trade receivables	0	0
Other receivables	6,413	15,406
Receivables due from affiliates	40,392	21,752
Inventories:
Finished goods and work-in-process	500,855	452,230
Packaging material and ingredients	59,473	101,332
Total inventories	560,328	553,562
Prepaid expenses	29,180	25,560
Short-term lending due from affiliates	496,431	32,777
Other current assets	27,180	50,720
Total current assets	1,753,953	1,643,518
Property, plant and equipment:
Property, plant and equipment, gross	897,627	804,277
Less accumulated depreciation	184,384	54,016
Total property, plant and equipment, net	713,243	750,261
Other non-current assets:
Goodwill	8,718,583	8,554,726
Investments in subsidiaries	14,437,353	15,500,336
Trademarks, net	478,500	624,300
Other intangibles, net	632,587	666,472
Long-term lending due from affiliates	4,278,686	3,305,383
Other non-current assets	112,819	106,116
Total other non-current assets	28,658,528	28,757,333
Total assets	31,125,724	31,151,112
Current liabilities:
Short-term debt	0	0
Short-term lending due to affiliates	447,561	2,408,903
Portion of long-term debt due within one year	335	430
Trade payables	458,891	326,636
Payables due to affiliates	53,214	60,488
Other payables	22,321	2,569
Accrued trade promotions and marketing	45,982	80,892
Other accrued liabilities	106,410	148,609
Income taxes	12,603	2,120
Total current liabilities	1,147,317	3,030,647
Long-term debt and other non-current liabilities:
Long-term debt	1,765,809	1,772,244
Long-term borrowings due to affiliates	199,875	202,766
Deferred income taxes	169,116	186,722
Non-pension post-retirement benefits	137,088	138,136
Other non-current liabilities	31,976	35,989
Total long-term liabilities	2,303,864	2,335,857
Redeemable noncontrolling interest	0	0
Total shareholder equity	27,674,543	25,784,608
Noncontrolling interest	0	0
Total equity	27,674,543	25,784,608
Total liabilities and equity	31,125,724	31,151,112
Non-Guarantors
Current assets:
Cash and cash equivalents	2,258,840	1,466,855	1,755,001	1,662,896	0	2,084,132
Trade receivables	812,038	1,099,655
Other receivables	105,027	189,306
Receivables due from affiliates	224,025	60,974
Inventories:
Finished goods and work-in-process	684,803	686,143
Packaging material and ingredients	167,179	195,691
Total inventories	851,982	881,834
Prepaid expenses	109,579	127,870
Short-term lending due from affiliates	678,905	602,059
Other current assets	122,321	51,239
Total current assets	5,162,717	4,479,792
Property, plant and equipment:
Property, plant and equipment, gross	1,664,587	1,786,596
Less accumulated depreciation	213,265	96,919
Total property, plant and equipment, net	1,451,322	1,689,677
Other non-current assets:
Goodwill	6,449,008	6,515,336
Investments in subsidiaries	0	0
Trademarks, net	6,606,807	6,846,773
Other intangibles, net	818,191	887,939
Long-term lending due from affiliates	199,875	202,767
Other non-current assets	495,133	538,070
Total other non-current assets	14,569,014	14,990,885
Total assets	21,183,053	21,160,354
Current liabilities:
Short-term debt	904	143,689
Short-term lending due to affiliates	275,187	23,846
Portion of long-term debt due within one year	13,203	12,335
Trade payables	919,510	852,049
Payables due to affiliates	160,724	56,591
Other payables	70,624	129,275
Accrued trade promotions and marketing	283,691	289,437
Other accrued liabilities	378,774	406,841
Income taxes	210	49,287
Total current liabilities	2,102,827	1,963,350
Long-term debt and other non-current liabilities:
Long-term debt	263,454	276,583
Long-term borrowings due to affiliates	2,524,982	1,554,633
Deferred income taxes	1,363,748	1,419,974
Non-pension post-retirement benefits	49,220	54,504
Other non-current liabilities	214,190	121,212
Total long-term liabilities	4,415,594	3,426,906
Redeemable noncontrolling interest	29,315	29,885
Total shareholder equity	14,409,011	15,524,371
Noncontrolling interest	226,306	215,842
Total equity	14,635,317	15,740,213
Total liabilities and equity	21,183,053	21,160,354
Eliminations
Current assets:
Cash and cash equivalents	0	0	0	0	0	0
Trade receivables	0	0
Other receivables	0	0
Receivables due from affiliates	(342,298)	(166,344)
Inventories:
Finished goods and work-in-process	0	0
Packaging material and ingredients	0	0
Total inventories	0	0
Prepaid expenses	(4,401)	(21,118)
Short-term lending due from affiliates	(1,380,865)	(2,442,338)
Other current assets	(64,380)	(41,501)
Total current assets	(1,791,944)	(2,671,301)
Property, plant and equipment:
Property, plant and equipment, gross	0	0
Less accumulated depreciation	0	0
Total property, plant and equipment, net	0	0
Other non-current assets:
Goodwill	0	0
Investments in subsidiaries	(58,090,812)	(57,855,644)
Trademarks, net	0	0
Other intangibles, net	0	0
Long-term lending due from affiliates	(4,478,561)	(3,508,150)
Other non-current assets	0	0
Total other non-current assets	(62,569,373)	(61,363,794)
Total assets	(64,361,317)	(64,035,095)
Current liabilities:
Short-term debt	0	0
Short-term lending due to affiliates	(1,380,865)	(2,442,338)
Portion of long-term debt due within one year	0	0
Trade payables	0	0
Payables due to affiliates	(342,298)	(166,344)
Other payables	0	0
Accrued trade promotions and marketing	0	0
Other accrued liabilities	(4,401)	(21,118)
Income taxes	(64,380)	(41,501)
Total current liabilities	(1,791,944)	(2,671,301)
Long-term debt and other non-current liabilities:
Long-term debt	0	0
Long-term borrowings due to affiliates	(4,724,857)	(3,757,399)
Deferred income taxes		0
Non-pension post-retirement benefits	0	0
Other non-current liabilities	0	0
Total long-term liabilities	(4,724,857)	(3,757,399)
Redeemable noncontrolling interest	0	0
Total shareholder equity	(57,844,516)	(57,606,395)
Noncontrolling interest	0	0
Total equity	(57,844,516)	(57,606,395)
Total liabilities and equity	$ (64,361,317)	$ (64,035,095)

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Fair Value Measurements (Tables)

9 Months Ended

Sep. 28, 2014

Fair Value Disclosures [Abstract]

Fair value assets and liabilities measured on recurring basis

As of September 28, 2014 and December 29, 2013, the fair values of the Company’s assets and liabilities measured on a recurring basis are categorized as follows:

	September 28, 2014								December 29, 2013
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
	(In thousands)
Assets:
Derivatives(a)	$	—	$	284,021	$	—	$	284,021	$	—	$	346,665	$	—	$	346,665
Total assets at fair value	$	—	$	284,021	$	—	$	284,021	$	—	$	346,665	$	—	$	346,665
Liabilities:
Derivatives(a)	$	—	$	125,437	$	—	$	125,437	$	—	$	237,436	$	—	$	237,436
Total liabilities at fair value	$	—	$	125,437	$	—	$	125,437	$	—	$	237,436	$	—	$	237,436

_______________________________________

(a) Foreign currency derivative contracts are valued based on observable market spot and forward rates and classified within Level 2 of the fair value hierarchy. Interest rate swaps are valued based on observable market swap rates and classified within Level 2 of the fair value hierarchy. Cross-currency swaps are valued based on observable market spot and swap rates and classified within Level 2 of the fair value hierarchy.

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Comprehensive Income/(Loss) (AOCI Reclassification) (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended	7 Months Ended	9 Months Ended	3 Months Ended	6 Months Ended		1 Months Ended	3 Months Ended		7 Months Ended	9 Months Ended				3 Months Ended		7 Months Ended	9 Months Ended	3 Months Ended			6 Months Ended		3 Months Ended	6 Months Ended	3 Months Ended	7 Months Ended	9 Months Ended	3 Months Ended	7 Months Ended	9 Months Ended	3 Months Ended	6 Months Ended	7 Months Ended	3 Months Ended		7 Months Ended	9 Months Ended	6 Months Ended	3 Months Ended		7 Months Ended	9 Months Ended	3 Months Ended	6 Months Ended	3 Months Ended	7 Months Ended	9 Months Ended
	Sep. 28, 2014	Sep. 22, 2013	Jun. 07, 2013	Sep. 22, 2013	Sep. 28, 2014	Jun. 07, 2013 Predecessor	Jun. 07, 2013 Predecessor	Jun. 07, 2013 Predecessor Parent	Jul. 31, 2013 Successor	Sep. 28, 2014 Successor	Sep. 22, 2013 Successor	Sep. 22, 2013 Successor	Sep. 28, 2014 Successor	Sep. 28, 2014 Successor Foreign currency translation adjustments	Sep. 28, 2014 Successor Net pension and post retirement benefit	Sep. 28, 2014 Successor Net cash flow hedges	Sep. 28, 2014 Successor Parent	Sep. 22, 2013 Successor Parent	Sep. 22, 2013 Successor Parent	Sep. 28, 2014 Successor Parent	Sep. 22, 2013 Foreign exchange contracts Successor	Sep. 22, 2013 Reclassification out of Accumulated Other Comprehensive Income [Member] Predecessor Net pension and post retirement benefit		Jun. 07, 2013 Reclassification out of Accumulated Other Comprehensive Income [Member] Predecessor Net pension and post retirement benefit		Sep. 22, 2013 Reclassification out of Accumulated Other Comprehensive Income [Member] Predecessor Net cash flow hedges	Jun. 07, 2013 Reclassification out of Accumulated Other Comprehensive Income [Member] Predecessor Net cash flow hedges	Sep. 28, 2014 Reclassification out of Accumulated Other Comprehensive Income [Member] Successor Net pension and post retirement benefit	Sep. 22, 2013 Reclassification out of Accumulated Other Comprehensive Income [Member] Successor Net pension and post retirement benefit	Sep. 28, 2014 Reclassification out of Accumulated Other Comprehensive Income [Member] Successor Net pension and post retirement benefit	Sep. 28, 2014 Reclassification out of Accumulated Other Comprehensive Income [Member] Successor Net cash flow hedges	Sep. 22, 2013 Reclassification out of Accumulated Other Comprehensive Income [Member] Successor Net cash flow hedges	Sep. 28, 2014 Reclassification out of Accumulated Other Comprehensive Income [Member] Successor Net cash flow hedges	Sep. 22, 2013 Reclassification out of Accumulated Other Comprehensive Income [Member] Foreign exchange contracts Predecessor Net cash flow hedges	Jun. 07, 2013 Reclassification out of Accumulated Other Comprehensive Income [Member] Foreign exchange contracts Predecessor Net cash flow hedges	Sep. 22, 2013 Reclassification out of Accumulated Other Comprehensive Income [Member] Foreign exchange contracts Successor	Sep. 28, 2014 Reclassification out of Accumulated Other Comprehensive Income [Member] Foreign exchange contracts Successor Net cash flow hedges	Sep. 22, 2013 Reclassification out of Accumulated Other Comprehensive Income [Member] Foreign exchange contracts Successor Net cash flow hedges	Sep. 22, 2013 Reclassification out of Accumulated Other Comprehensive Income [Member] Foreign exchange contracts Successor Net cash flow hedges	Sep. 28, 2014 Reclassification out of Accumulated Other Comprehensive Income [Member] Foreign exchange contracts Successor Net cash flow hedges	Jun. 07, 2013 Reclassification out of Accumulated Other Comprehensive Income [Member] Interest rate contracts Predecessor Net cash flow hedges	Sep. 28, 2014 Reclassification out of Accumulated Other Comprehensive Income [Member] Interest rate contracts Successor Net cash flow hedges	Sep. 22, 2013 Reclassification out of Accumulated Other Comprehensive Income [Member] Interest rate contracts Successor Net cash flow hedges	Sep. 22, 2013 Reclassification out of Accumulated Other Comprehensive Income [Member] Interest rate contracts Successor Net cash flow hedges	Sep. 28, 2014 Reclassification out of Accumulated Other Comprehensive Income [Member] Interest rate contracts Successor Net cash flow hedges	Sep. 22, 2013 Reclassification out of Accumulated Other Comprehensive Income [Member] Cross-currency interest rate swap contracts Predecessor Net cash flow hedges	Jun. 07, 2013 Reclassification out of Accumulated Other Comprehensive Income [Member] Cross-currency interest rate swap contracts Predecessor Net cash flow hedges	Sep. 28, 2014 Reclassification out of Accumulated Other Comprehensive Income [Member] Cross-currency interest rate swap contracts Successor Net cash flow hedges	Sep. 22, 2013 Reclassification out of Accumulated Other Comprehensive Income [Member] Cross-currency interest rate swap contracts Successor Net cash flow hedges	Sep. 28, 2014 Reclassification out of Accumulated Other Comprehensive Income [Member] Cross-currency interest rate swap contracts Successor Net cash flow hedges
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
Balance at beginning of period													$ 233,010	$ 22,548	$ 102,464	$ 107,998
Foreign currency translation adjustments														(416,748)	0	0				(416,748)
Net deferred gains on net investment hedges from periodic revaluations														108,541	0	0				108,541
Net pension and post retirement benefit (losses)/gains														0	(53,366)	0				(53,366)
Net deferred gains on net investment hedges from periodic revaluations							0	0		268,375	0	0	108,541				268,375	0	0	108,541
Net pension and post-retirement benefit (gains)/losses reclassified to earnings														0	(2,965)	0				(2,965)
Net deferred gains/(losses) on derivatives from periodic revaluations							(4,978)	(5,018)		23,099	(3,323)	103,979	(136,221)	0	0	(135,800)	23,164	(3,609)	103,693	(135,800)
Net deferred losses/(gains) on derivatives reclassified to earnings							22,674	22,670		3,865	(1,219)	(1,219)	(193)	0	0	(176)	3,782	(1,180)	(1,180)	(176)
Net current-period other comprehensive loss													(500,514)	(308,207)	(56,331)	(135,976)
Balance at end of period										(267,504)			(267,504)	(285,659)	46,133	(27,978)
Accumulated other comprehensive income/(loss) component
Sales	2,593,885	2,646,577	5,203,698	3,150,003	8,122,481	2,347,453	5,203,698			2,593,885	2,646,577	3,150,003	8,122,481																						4,836		624	(125)	125	(967)
Cost of product sold	(1,677,862)	(1,986,414)	(3,316,896)	(2,437,138)	(5,368,258)		(3,316,896)			(1,677,862)	(1,986,414)	(2,437,138)	(5,368,258)								650													650	4,695		(1,558)		650	7,207
Selling, general and administrative expenses	506,896	669,657	1,282,468	834,389	1,539,209		1,125,466			506,896	571,859	680,598	1,539,209																						0	(19)	0	(19)		(125)
Other (expense)/income, net	(37,450)	(9,819)	(182,618)	109,006	(101,241)		(182,618)			(37,450)	(9,819)	(8,928)	(101,241)																						(9,761)	(672)	(148)	(672)		(966)						0	52,447	0	0	0
Interest expense	(157,469)	(160,911)	(120,200)	(219,970)	(481,936)		(130,413)			(166,667)	(167,161)	(227,230)	(503,601)																						230		0	0	0	6	(98)	0	40	40	0	0	(11,765)	0	0	0
(Loss)/income before income taxes	214,208	(180,224)	301,516	(232,488)	631,837	23,817	301,516			214,208	(180,224)	(232,488)	631,837									0		(38,099)		(1,468)	44,788	1,593	0	4,778	2,034	(1,468)	(7,087)
Actuarial gains/(losses)																						0	[1]	(36,582)	[1]			16	0	47
Prior service credit/(cost)																						0	[1]	1,659	[1]			1,577	0	4,731
Curtailment (gains) and settlement losses																						0	[1]	3,176	[1]			0	0	0
Income tax (benefit) expense	(40,227)	175,729	(160,166)	186,856	(124,851)		(160,166)		(106,700)	(40,227)	175,729	186,856	(124,851)									0		11,191		(288)	22,118	(607)	0	(1,813)	(1,748)	(288)	(6,911)
Income (Loss) from Continuing Operations, Including Portion Attributable to Noncontrolling Interest		$ (4,495)	$ 141,350	$ (45,632)			$ 141,350			$ 173,981	$ (4,495)	$ (45,632)	$ 506,986									$ 0		$ (26,908)		$ (1,180)	$ 22,670	$ 986	$ 0	$ 2,965	$ 3,782	$ (1,180)	$ (176)

[1] As these components are included in the computation of net periodic pension and post-retirement benefit costs refer to Note 10 for further details.

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Derivative Financial Instruments and Hedging Activities

9 Months Ended

Sep. 28, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments and Hedging Activities

Derivative Financial Instruments and Hedging Activities

The Company operates internationally, with manufacturing and sales facilities in various locations around the world, and utilizes certain derivative financial instruments to manage its foreign currency, debt and interest rate exposures. At September 28, 2014, the Company had outstanding currency exchange, interest rate, and cross-currency swap derivative contracts with notional amounts of $2.7 billion, $9.0 billion and $8.3 billion respectively. At December 29, 2013, the Company had outstanding currency exchange, interest rate, and cross-currency swap derivative contracts with notional amounts of $2.5 billion, $9.0 billion and $8.3 billion, respectively.

The following table presents the fair values and corresponding balance sheet captions of the Company’s derivative instruments as of September 28, 2014 and December 29, 2013:

	September 28, 2014						December 29, 2013
	Foreign Exchange Contracts		Interest Rate Contracts		Cross-Currency Swap Contracts		Foreign Exchange Contracts		Interest Rate Contracts		Cross-Currency Swap Contracts
	(In thousands)
Assets:
Derivatives designated as hedging instruments:
Other receivables, net	$	24,828	$	—	$	—	$	37,072	$	—	$	—
Other non-current assets	2,905		87,508		79,563		4,129		265,390		31,303
	27,733		87,508		79,563		41,201		265,390		31,303
Derivatives not designated as hedging instruments:
Other receivables, net	89,217		—		—		8,771		—		—
Other non-current assets	—		—		—		—		—		—
	89,217		—		—		8,771		—		—
Total assets(1)	$	116,950	$	87,508	$	79,563	$	49,972	$	265,390	$	31,303
Liabilities:
Derivatives designated as hedging instruments:
Other payables	$	25,331	$	—	$	—	$	5,251	$	—	$	—
Other non-current liabilities	3,553		—		94,384		—		—		221,899
	28,884		—		94,384		5,251		—		221,899
Derivatives not designated as hedging instruments:
Other payables	2,169		—		—		10,286		—		—
Other non-current liabilities	—		—		—		—		—		—
Total liabilities(1)	$	31,053	$	—	$	94,384	$	15,537	$	—	$	221,899

_______________________________________

(1) The Company’s derivative financial instruments are subject to master netting arrangements that allow for the offset of asset and liabilities in the event of default or early termination of the contract. The Company elects to record the gross assets and liabilities of its derivative financial instruments in the condensed consolidated balance sheets. If the derivative financial instruments had been netted in the condensed consolidated balance sheets, the asset and liability positions each would have been reduced by $125.4 million and $237.4 million at September 28, 2014 and December 29, 2013, respectively. No material amounts of collateral were received or posted on the Company’s derivative assets and liabilities as of September 28, 2014.

Refer to Note 15 for further information on how fair value is determined for the Company’s derivatives.

The following table presents the pre-tax effect of derivative instruments on the condensed consolidated statements of operations for the periods presented:

	Successor
	June 30 - September 28, 2014							June 24 - September 22, 2013
	Foreign Exchange Contracts			Interest Rate Contracts		Cross-Currency Swap Contracts		Foreign Exchange Contracts			Interest Rate Contracts			Cross-Currency Swap Contracts
	(In thousands)
Cash flow hedges:
Gains/(losses) recognized in other comprehensive income (effective portion)	$	7,836		$	29,925	$	—	$	10,315		$	(13,201	)	$	—
Net investment hedges:
Gains/(losses) recognized in other comprehensive income (effective portion)	—			—		434,616		—			—			—
Total gains/(losses) recognized in other comprehensive income (effective portion)	$	7,836		$	29,925	$	434,616	$	10,315		$	(13,201	)	$	—
Cash flow hedges:
Sales	$	(624	)	$	—	$	—	$	125		$	—		$	—
Cost of products sold	(1,558		)	—		—		650			—			—
Selling, general and administrative expenses	—			—		—		(19		)	—			—
Other expense, net	148			—		—		672			—			—
Interest expense	—			—		—		—			40			—
	(2,034		)	—		—		1,428			40			—
Fair value hedges:
Gains/(losses) recognized in other expense, net	—			—		—		—			—			—
Derivatives not designated as hedging instruments:
Unrealized gains/(losses) on derivative instruments	—			—		—		—			—			—
Gains/(losses) recognized in other expense, net	99,411			—		—		36,353			—			—
Gains/(losses) recognized in interest income	—			—		—		—			—			—
	99,411			—		—		36,353			—			—
Total gains/(losses) recognized in statement of operations	$	97,377		$	—	$	—	$	37,781		$	40		$	—

	Successor																Predecessor
	December 30, 2013 - September 28, 2014								February 8 - September 22, 2013								December 24, 2012 - June 7, 2013
	Foreign Exchange Contracts			Interest Rate Contracts			Cross-Currency Swap Contracts		Foreign Exchange Contracts			Interest Rate Contracts			Cross-Currency Swap Contracts		Foreign Exchange Contracts			Interest Rate Contracts			Cross-Currency Interest Rate Swap Contracts
	(In thousands)
Cash flow hedges:
Gains/(losses) recognized in other comprehensive income (effective portion)	$	(22,017	)	$	(177,882	)	$	—	$	17,881		$	141,547		$	—	$	39,351		$	—		$	(57,558	)
Net investment hedges:
Gains/(losses) recognized in other comprehensive income (effective portion)	—			—			175,776		—			—			—		—			—			—
Total gains/(losses) recognized in other comprehensive income (effective portion)	$	(22,017	)	$	(177,882	)	$	175,776	$	17,881		$	141,547		$	—	$	39,351		$	—		$	(57,558	)
Cash flow hedges:
Sales	$	(967	)	$	—		$	—	$	125		$	—		$	—	$	4,836		$	—		$	—
Cost of products sold	7,207			—			—		650			—			—		4,695			—			—
Selling, general and administrative expenses	(125		)	—			—		(19		)	—			—		—			—			—
Other expense, net	966			—			—		672			—			—		9,761			—			(52,447		)
Interest expense	6			—			—		—			40			—		230			(98		)	(11,765		)
	7,087			—			—		1,428			40			—		19,522			(98		)	(64,212		)
Fair value hedges:
Gains/(losses) recognized in other expense, net	—			—			—		—			(180		)	—		—			(8,065		)	—
Derivatives not designated as hedging instruments:
Unrealized gains/(losses) on derivative instruments	—			—			—		—			117,934			—		—			—			—
Gains/(losses) recognized in other expense, net	98,815			—			—		36,434			—			—		(2,922		)	—			—
Gains/(losses) recognized in interest income	—			—			—		—			—			—		—			(10,512		)	—
	98,815			—			—		36,434			117,934			—		(2,922		)	(10,512		)	—
Total gains/(losses) recognized in statement of operations	$	105,902		$	—		$	—	$	37,862		$	117,794		$	—	$	16,600		$	(18,675	)	$	(64,212	)

Foreign Currency Hedging:

The Company uses forward contracts and, to a lesser extent, option contracts to mitigate its foreign currency exchange rate exposure due to forecasted purchases of raw materials and sales of finished goods, and future settlement of foreign currency denominated assets and liabilities. The Company’s principal foreign currency exposures that are hedged include the Australian dollar, British pound sterling, Canadian dollar, euro, and the New Zealand dollar. Derivatives used to hedge forecasted transactions and specific cash flows associated with foreign currency denominated financial assets and liabilities that meet the criteria for hedge accounting are designated as cash flow hedges. Consequently, the effective portion of gains and losses is deferred as a component of accumulated other comprehensive loss and is recognized in earnings at the time the hedged item affects earnings, in the same line item as the underlying hedged item.

Interest Rate Hedging:

The Company uses interest rate swaps to manage debt and interest rate exposures. The Company is exposed to interest rate volatility with regard to existing and future issuances of fixed and floating rate debt. Primary exposures include U.S. Treasury rates and London Interbank Offered Rates (LIBOR). Derivatives used to hedge risk associated with changes in the fair value of certain fixed-rate debt obligations are primarily designated as fair value hedges. Consequently, changes in the fair value of these derivatives, along with changes in the fair value of the hedged debt obligations that are attributable to the hedged risk, are recognized in current period earnings.

The Company also entered into cross-currency interest rate swaps which were designated as cash flow hedges of the future payments of loan principal and interest associated with certain foreign denominated variable rate debt obligations. As a result of the merger, these contracts were terminated in May 2013.

Prior to the Merger date, Merger Subsidiary entered into interest rate swaps to mitigate exposure to variable rate debt that was raised to finance the acquisition. These agreements were not designated as hedging instruments prior to the acquisition date, and as such, we recognized the fair value of these instruments as an asset with gains recognized in income. As a result of the Merger and the transactions entered into in connection therewith, we have assumed the liabilities and obligations of Merger Subsidiary. Upon consummation of the acquisition, these interest rate swaps with an aggregate notional amount of $9.0 billion met the criteria for hedge accounting and were designated as hedges of future interest payments.

Deferred Hedging Gains and Losses:

As of September 28, 2014, the Company is hedging forecasted transactions for periods not exceeding 2 years. During the next 12 months, the Company expects $8.4 million of net deferred losses reported in accumulated other comprehensive loss to be reclassified to earnings, assuming market rates remain constant through contract maturities. Hedge ineffectiveness related to cash flow hedges, as well as reclassifications to earnings due to hedged transactions no longer expected to occur, which is reported in current period earnings as other income/(expense), net, was not significant for the third quarters of 2014 and 2013, respectively.

Hedges of Net Investments in Foreign Operations:

We have numerous investments in our foreign subsidiaries, the net assets of which are exposed to volatility in foreign currency exchange rates. Beginning in October 2013, we have used cross currency swaps to hedge a portion of our net investment in such foreign operations against adverse movements in exchange rates. We designated cross currency swap contracts between the pound sterling and USD, the euro and USD, the Australian dollar and USD, and the Japanese yen and USD, as net investment hedges of a portion of our equity in foreign operations in those currencies. The component of the gains and losses on our net investment in these designated foreign operations, driven by changes in foreign exchange rates, are economically offset by movements in the fair values of our cross currency swap contracts. The fair value of the swaps is calculated each period with changes in fair value reported in foreign currency translation adjustments within accumulated other comprehensive income (loss), net of tax. Such amounts will remain in other comprehensive income (loss) until the complete or substantially complete liquidation of our investment in the underlying foreign operations.

In relation to the cross currency swaps:

•We pay 6.462% per annum on the pound sterling notional amount of £2.795 billion and receive 6.15% per annum on the USD notional amount of $4.50 billion on each January 8, April 8, July 8 and October 8, through the maturity date of the swap, which was also expected to be on October 8, 2019.

•We pay 5.696% per annum on the Euro notional amount of €2.21 billion and receive 6.15% per annum on the USD notional amount of $3 billion on each January 9, April 9, July 9 and October 9, through the maturity date of the swap, which was also expected to be on October 9, 2019.

•We pay 9.164% per annum on the Australian dollar notional amount of A$793.8 million and receive 6.15% per annum on the USD notional amount of $750 million on each January 10, April 10, July 10 and October 10, through the maturity date of the swap, which was also expected to be on October 10, 2019.

•We pay 4.104% per annum on the Japanese yen notional amount of ¥4,854.5 billion and receive 6.15% per annum on the USD notional amount of $50 million on each January 11, April 11, July 11 and October 11, through the maturity date of the swap, which was also expected to be on October 11, 2019.

The net amounts paid or received on a quarterly basis are recorded in Other expense, net, in the condensed consolidated statements of operations. The Company paid net amounts of $2.7 million and $18.0 million related to cross currency swaps for the three and nine months ended September 28, 2014, respectively.

Other Activities:

The Company enters into certain derivative contracts in accordance with its risk management strategy that do not meet the criteria for hedge accounting but which have the economic impact of largely mitigating foreign currency or interest rate exposures. The Company maintained foreign currency forward contracts with a total notional amount of $1.6 billion and $1.0 billion that did not meet the criteria for hedge accounting as of September 28, 2014 and December 29, 2013, respectively. These forward contracts are accounted for on a full mark-to-market basis through current earnings, with gains and losses recorded as a component of other income/(expense), net. Net unrealized gains/(losses) related to outstanding contracts totaled $87.0 million and $(1.3) million as of September 28, 2014 and December 29, 2013, respectively. These contracts are scheduled to mature within one year.

Concentration of Credit Risk:

Counterparties to currency exchange and interest rate derivatives consist of major international financial institutions. The Company continually monitors its positions and the credit ratings of the counterparties involved and, by policy, limits the amount of credit exposure to any one party. While the Company may be exposed to potential losses due to the credit risk of non-performance by these counterparties, losses are not anticipated. The Company closely monitors the credit risk associated with its counterparties and customers and to date has not experienced material losses.

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Restructuring and Productivity Initiatives (Tables)

9 Months Ended

Sep. 28, 2014

Restructuring and Related Activities [Abstract]

Schedule of Productivity Charges Excluded from Segments

The Company does not include productivity charges in the results of its reportable segments. The pre-tax impact of allocating such charges to segment results would have been as follows:

	Successor
	June 30 - September 28, 2014		June 24 - September 22, 2013
	(In millions)
North America	$	5.2	$	39.2
Europe	63.1		1.4
Asia/Pacific	8.0		3.5
Latin America	3.5		15.3
RIMEA	0.9		1.0
Non-Operating	0.2		6.9
Total productivity charges	$	80.9	$	67.3

	Successor				Predecessor
	December 30, 2013 - September 28, 2014		February 8 - September 22, 2013		December 24, 2012 - June 7, 2013
	(In millions)
North America	$	161.1	$	39.2	$	—
Europe	126.4		1.4		3.6
Asia/Pacific	26.5		6.1		2.4
Latin America	3.7		15.3		—
RIMEA	2.5		1.0		—
Non-Operating	18.0		6.9		—
Total productivity charges	$	338.2	$	69.9	$	6.0

Schedule of Accrued Liabilities

Activity in other accrued liability balances for restructuring and productivity charges incurred by the Successor were as follows:

	Severance and other severance related costs (a)			Other exit costs (b)			Total
	(In millions)
Accrual balance at December 29, 2013	$	66.3		$	41.6		$	107.9
2014 Restructuring and productivity initiatives	112.8			49.0			161.8
Cash payments	(120.5		)	(59.8		)	(180.3		)
Accrual balance at September 28, 2014	$	58.6		$	30.8		$	89.4

______________________________________

(a) The accrual balance for severance and other severance related costs at December 29, 2013 shown in the above table has been revised to correct the prior period disclosure, decreasing the balance by $27.0 million.  The revision impacted only the disclosed amount and had no impact on the Company's condensed consolidated financial statements.

(b) Other exit costs primarily represent professional fees, and contract and lease termination costs.

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Pensions and Other Postretirement Benefits (Details) (USD $)	3 Months Ended			9 Months Ended		3 Months Ended			7 Months Ended	9 Months Ended	3 Months Ended		7 Months Ended	9 Months Ended	6 Months Ended			3 Months Ended
	Sep. 28, 2014	Jun. 29, 2014	Dec. 29, 2013	Sep. 28, 2014 Maximum	Sep. 28, 2014 Successor	Jun. 29, 2014 Successor Supplemental Employee Retirement Plan, Defined Benefit [Member]	Sep. 28, 2014 Successor Pension Benefits	Sep. 22, 2013 Successor Pension Benefits	Sep. 22, 2013 Successor Pension Benefits	Sep. 28, 2014 Successor Pension Benefits	Sep. 28, 2014 Successor Other Retiree Benefits	Sep. 22, 2013 Successor Other Retiree Benefits	Sep. 22, 2013 Successor Other Retiree Benefits	Sep. 28, 2014 Successor Other Retiree Benefits	Jun. 07, 2013 Predecessor Supplemental Employee Retirement Plan, Defined Benefit [Member]	Jun. 07, 2013 Predecessor Pension Benefits	Jun. 07, 2013 Predecessor Other Retiree Benefits	Sep. 28, 2014 Canadian Defined Benefit Successor Supplemental Employee Retirement Plan, Defined Benefit [Member]	Sep. 28, 2014 Post Retirement Medical Plans Successor Supplemental Employee Retirement Plan, Defined Benefit [Member]
Components of net periodic benefit cost
Service cost							$ 7,303,000	$ 9,555,000	$ 10,950,000	$ 22,353,000	$ 1,430,000	$ 1,640,000	$ 1,905,000	$ 4,256,000		$ 14,673,000	$ 2,909,000
Interest cost							34,959,000	33,190,000	38,342,000	105,320,000	2,209,000	2,334,000	2,705,000	6,591,000		57,912,000	4,260,000
Expected return on plan assets							(56,206,000)	(53,720,000)	(63,750,000)	(166,631,000)	0	0	0	0		(111,162,000)	0
Amortization of prior service cost/(credit)							0	0	0	0	(1,577,000)	0	0	(4,731,000)		1,077,000	(2,736,000)
Amortization of unrecognized (gain)/loss							(16,000)	0	0	(47,000)		0	0	0		35,759,000	823,000
Special Termination Benefits							1,784,000	0	0	1,784,000	0	0	0	0	17,230,000	17,230,000	0
Curtailment (gains) and settlement losses						(800,000)	1,494,000	0	0	2,289,000	6,868,000	0	0	6,868,000		(3,177,000)	0	1,500,000	6,868,000
Net periodic benefit (income)/expense							(13,670,000)	(10,975,000)	(14,458,000)	(39,510,000)	(4,806,000)	3,974,000	4,610,000	(752,000)		18,666,000	5,256,000
Pensions and Other Post-Retirement Benefits (Textuals) [Abstract]
Accumulated benefit obligation	25,500,000	27,900,000
Benefit obligation recognized for pension benefits as other non-current assets	549,500,000		502,200,000
Employer contribution					60,000,000
Expected full year combined cash contributions				$ 94,000,000

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Segments (Details) (USD $) In Thousands, unless otherwise specified	1 Months Ended	3 Months Ended		6 Months Ended	7 Months Ended	9 Months Ended	3 Months Ended				7 Months Ended		9 Months Ended		3 Months Ended		7 Months Ended	9 Months Ended	3 Months Ended		7 Months Ended	9 Months Ended	3 Months Ended		7 Months Ended	9 Months Ended	3 Months Ended		7 Months Ended	9 Months Ended	3 Months Ended		7 Months Ended	9 Months Ended	3 Months Ended		7 Months Ended	9 Months Ended	3 Months Ended		7 Months Ended	9 Months Ended	3 Months Ended		7 Months Ended	9 Months Ended	3 Months Ended		7 Months Ended	9 Months Ended	3 Months Ended		7 Months Ended	9 Months Ended	3 Months Ended		6 Months Ended						3 Months Ended	6 Months Ended	3 Months Ended	6 Months Ended	3 Months Ended	6 Months Ended	3 Months Ended	6 Months Ended	3 Months Ended	6 Months Ended	3 Months Ended	6 Months Ended
	Jan. 31, 2013	Sep. 28, 2014	Sep. 22, 2013	Jun. 07, 2013	Sep. 22, 2013	Sep. 28, 2014 segment	Sep. 28, 2014 Successor		Sep. 22, 2013 Successor		Sep. 22, 2013 Successor		Sep. 28, 2014 Successor		Sep. 28, 2014 Successor Ketchup and Sauces	Sep. 22, 2013 Successor Ketchup and Sauces	Sep. 22, 2013 Successor Ketchup and Sauces	Sep. 28, 2014 Successor Ketchup and Sauces	Sep. 28, 2014 Successor Meals and Snacks	Sep. 22, 2013 Successor Meals and Snacks	Sep. 22, 2013 Successor Meals and Snacks	Sep. 28, 2014 Successor Meals and Snacks	Sep. 28, 2014 Successor Infant/Nutrition	Sep. 22, 2013 Successor Infant/Nutrition	Sep. 22, 2013 Successor Infant/Nutrition	Sep. 28, 2014 Successor Infant/Nutrition	Sep. 28, 2014 Successor Other	Sep. 22, 2013 Successor Other	Sep. 22, 2013 Successor Other	Sep. 28, 2014 Successor Other	Sep. 28, 2014 Successor North American Consumer Products	Sep. 22, 2013 Successor North American Consumer Products	Sep. 22, 2013 Successor North American Consumer Products	Sep. 28, 2014 Successor North American Consumer Products	Sep. 28, 2014 Successor Europe	Sep. 22, 2013 Successor Europe	Sep. 22, 2013 Successor Europe	Sep. 28, 2014 Successor Europe	Sep. 28, 2014 Successor Asia/Pacific	Sep. 22, 2013 Successor Asia/Pacific	Sep. 22, 2013 Successor Asia/Pacific	Sep. 28, 2014 Successor Asia/Pacific	Sep. 28, 2014 Successor Latin America	Sep. 22, 2013 Successor Latin America	Sep. 22, 2013 Successor Latin America	Sep. 28, 2014 Successor Latin America	Sep. 28, 2014 Successor RIMEA	Sep. 22, 2013 Successor RIMEA	Sep. 22, 2013 Successor RIMEA	Sep. 28, 2014 Successor RIMEA	Sep. 28, 2014 Successor Non-Operating	Sep. 22, 2013 Successor Non-Operating	Sep. 22, 2013 Successor Non-Operating	Sep. 28, 2014 Successor Non-Operating	Jun. 07, 2013 Predecessor		Jun. 07, 2013 Predecessor		Jun. 07, 2013 Predecessor Ketchup and Sauces	Jun. 07, 2013 Predecessor Meals and Snacks	Jun. 07, 2013 Predecessor Infant/Nutrition	Jun. 07, 2013 Predecessor Other	Jun. 07, 2013 Predecessor North American Consumer Products	Jun. 07, 2013 Predecessor North American Consumer Products	Jun. 07, 2013 Predecessor Europe	Jun. 07, 2013 Predecessor Europe	Jun. 07, 2013 Predecessor Asia/Pacific	Jun. 07, 2013 Predecessor Asia/Pacific	Jun. 07, 2013 Predecessor Latin America	Jun. 07, 2013 Predecessor Latin America	Jun. 07, 2013 Predecessor RIMEA	Jun. 07, 2013 Predecessor RIMEA	Jun. 07, 2013 Predecessor Non-Operating	Jun. 07, 2013 Predecessor Non-Operating
Segment Reporting Information [Line Items]
Number of reportable segments						5
Reconciliation from Segment Totals to Consolidated
Sales		$ 2,593,885	$ 2,646,577	$ 5,203,698	$ 3,150,003	$ 8,122,481	$ 2,593,885		$ 2,646,577		$ 3,150,003		$ 8,122,481		$ 1,344,804	$ 1,319,400	$ 1,577,483	$ 4,087,500	$ 887,417	$ 932,927	$ 1,089,553	$ 2,737,328	$ 273,018	$ 280,141	$ 333,784	$ 859,368	$ 88,646	$ 114,109	$ 149,183	$ 438,285	$ 982,162	$ 1,049,205	$ 1,222,895	$ 3,116,979	$ 695,991	$ 693,632	$ 815,483	$ 2,224,828	$ 475,674	$ 532,185	$ 652,785	$ 1,551,039	$ 265,889	$ 211,709	$ 250,948	$ 664,875	$ 174,169	$ 159,846	$ 207,892	$ 564,760					$ 2,347,453		$ 5,203,698		$ 2,433,468	$ 1,863,421	$ 546,873	$ 359,936	$ 926,342	$ 2,090,049	$ 615,572	$ 1,365,438	$ 476,384	$ 1,023,379	$ 179,031	$ 389,561	$ 150,124	$ 335,271
Operating income		409,127	(9,494)	604,334	(121,524)	1,215,014	409,127		(9,494)		(121,524)		1,215,014																		281,313	261,238	294,634	936,681	205,408	143,656	170,176	657,131	78,097	67,914	84,372	258,078	69,566	29,988	34,563	131,942	29,132	19,551	27,146	102,545	(17,067)	(25,383)	(29,459)	(58,317)			604,334						228,795	516,633	123,943	291,990	68,248	137,292	20,818	38,464	23,741	48,114	(37,552)	(86,184)
Adjusted EBITDA							646,449		496,964		581,432		2,028,060																																										427,993		946,309
Amortization of inventory step-up							0		259,195		383,300		0																																										0		0
Severance related costs		12,000					29,059	[1]	64,915	[1]	67,500	[1]	112,756	[1]																																									1,866	[1]	1,866	[1]
Other restructuring costs							10,617	[1]	2,444	[1]	2,444	[1]	48,985	[1]																																									3,659	[1]	3,659	[1]
Asset write-offs							38,429	[1]	0	[1]	0	[1]	48,718	[1]																																									0	[1]	0	[1]
Other special items							59,987	[2]	(10,937)	[2]	(11,445)	[3]	106,029	[3]																																									(11,908)	[2]	(11,908)	[3]
Merger related costs							0	[4]	97,798	[4]	153,791		0	[4]																																									144,169	[4]	157,002	[4]
Unrealized gain on derivative instruments							0		0		(117,934)		0																																										0		0
Loss from extinguishment of debt							0		0		0		0																																										129,367		129,367
Earn Out Adjustments	12,100										0		0																																												12,081
Depreciation											85,110		354,298																																												143,516
Depreciation, including accelerated depreciation for restructuring							70,571		72,272		85,110																																												67,470		143,516
Amortization											22,256		74,324																																												21,044
Amortization							24,681		20,771		22,256																																												10,620		21,044
Interest expense, net							157,469		160,911		219,970		481,936																																										55,427		120,200
Stock based compensation							3,978		0		0		6,162																																										8,449		18,520
Other expense, net							37,450		9,819		8,928		101,241																																										(4,943)		49,446
(Loss)/income from continuing operations before income taxes		214,208	(180,224)	301,516	(232,488)	631,837	214,208		(180,224)		(232,488)		631,837																																										23,817		301,516
Impairment loss on indefinite-lived trademarks							$ 0		$ 0		$ 0		$ 61,774																																										$ 0		$ 0

[1] See Note 5 for further details on restructuring and productivity initiatives.

[2] Includes incremental costs primarily for additional warehousing and other logistics costs incurred related to the U.S. SAP go-live, which was launched in the second quarter of 2014, along with equipment relocation charges, severance and consulting and advisory charges not specifically related to restructuring activities and other items that management believes do not directly reflect our core operations.

[3] Includes incremental costs primarily for additional warehousing and other logistics costs incurred related to the U.S. SAP go-live, which was launched in the second quarter of 2014, along with equipment relocation charges, severance and consulting and advisory charges not specifically related to restructuring activities

[4] See Note 2 for further details on Merger related costs.

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Consolidated Statements of Cash Flows (Unaudited) (USD $) In Thousands, unless otherwise specified	7 Months Ended	9 Months Ended	6 Months Ended
	Sep. 22, 2013 Successor	Sep. 28, 2014 Successor	Jun. 07, 2013 Predecessor
Cash Flows from Operating Activities:
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$ (50,541)	$ 506,986	$ 101,687
Adjustments to reconcile net income to cash provided by/ (used for) operating activities:
Depreciation	85,110	354,298	143,516
Amortization	22,256	74,324	21,044
Amortization of deferred debt related costs	14,831	33,976	18,494
Inventory fair value step-up charged to cost of products sold	383,300	0	0
Deferred taxes	(166,666)	(139,607)	(47,655)
Net loss on divestitures	1,955	0	34,616
Pension contributions	(93,095)	(59,418)	(28,281)
Impairment loss on indefinite-lived trademarks	0	61,774	0
Unrealized gain on derivative instruments	(117,934)	0	0
Other items, net	(4,746)	113,284	71,496
Changes in current assets and liabilities, excluding effects of acquisitions and divestitures:
Receivables (includes proceeds from securitization)	(6,209)	103,351	83,062
Inventories	71,552	(26,697)	46,306
Prepaid expenses and other current assets	21,085	(7,512)	16,368
Accounts payable	(166,055)	185,175	65,310
Accrued liabilities	(55,692)	(87,890)	124,006
Income taxes	(131,453)	220,237	17,582
Cash provided by/(used for) operating activities	(192,302)	1,332,281	667,551
Cash Flows from Investing Activities:
Capital expenditures	(71,135)	(247,450)	(291,417)
Proceeds from disposals of property, plant and equipment	292	42,066	2,579
Proceeds from divestitures	25,987	0	0
Acquisitions, net of cash received	(21,494,287)	0	0
Other items, net	(29,568)	(3,835)	30,683
Cash used for investing activities	(21,568,711)	(209,219)	(258,155)
Cash Flows from Financing Activities:
Payments on long-term debt	(2,645,906)	(74,597)	(449,847)
Proceeds from long-term debt	12,573,734	1,586	4,968
Debt issuance costs	(320,824)	0	0
Net (payments)/proceeds on commercial paper and short-term debt	(1,656,924)	(11,338)	297,215
Dividends	(180,000)	(540,000)	(331,654)
Exercise of stock options	0	0	19,387
Purchase of treasury stock	0	0	(17,762)
Capital contributions	16,500,000	0	0
Other items, net	26,073	13,794	(3,673)
Cash (used for)/provided by financing activities	24,296,153	(610,555)	(481,366)
Effect of exchange rate changes on cash and cash equivalents	(3,630)	(117,390)	(140,483)
Net increase/(decrease) in cash and cash equivalents	2,531,510	395,117	(212,453)
Cash and cash equivalents at beginning of year	0	2,458,992	2,282,420
Cash and cash equivalents at end of period	$ 2,531,510	$ 2,854,109	$ 2,069,967

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Restructuring and Productivity Initiatives

9 Months Ended

Sep. 28, 2014

Restructuring and Related Activities [Abstract]

Restructuring and Productivity Initiatives

Restructuring and Productivity Initiatives

During the transition period and the first nine months of 2014, the Company invested in restructuring and productivity initiatives as part of its ongoing cost reduction efforts with the goal of driving efficiencies and creating fiscal resources that will be reinvested into the Company's business as well as to accelerate overall productivity on a global scale. As of September 28, 2014, these initiatives have resulted in the reduction of approximately 4,050 corporate and field positions across the Company's global business segments (excluding the factory closures noted below). With respect to these restructuring and productivity initiatives, the Company currently estimates it will incur total charges of approximately $300 million related to severance benefits and other severance-related expenses, of which $289 million has been incurred from project inception through September 28, 2014.

In addition, the Company has announced the planned closure and consolidation of 5 factories across the U.S., Canada and Europe during 2014.  The number of employees expected to be impacted by these 5 plant closures and consolidation is approximately 1,600, of which 1,450 had left the Company as of September 28, 2014. With respect to these factory closures, the Company currently estimates it will incur charges of approximately $91 million related to severance benefits and other severance-related expenses, of which $86 million has been incurred from project inception through September 28, 2014.  In addition the Company will recognize accelerated depreciation on assets it plans to dispose of but which are currently in use. The charges that the Company expects to incur in connection with these factory workforce reductions and factory closures are subject to a number of assumptions and may differ from actual results.  The Company may also incur other charges not currently contemplated due to events that may occur as a result of, or related to, these cost reductions.

Furthermore, the Company announced the planned closure of an additional factory in Europe in the first half of 2015 due to the expiration of a license to manufacture a non-core product. The number of employees expected to be impacted by this plant closure is approximately 200. With respect to this factory closure, the Company expects to incur charges of approximately $12 million related to severance benefits and other severance-related expenses which it recorded in the quarter ended September 28, 2014. In addition, the Company recognized $33 million in non-cash asset write-downs for impairment of long-lived assets to be disposed.

In the three and nine months ended September 28, 2014, the Company recorded pre-tax costs related to these initiatives of $80.9 million and $338.2 million, respectively, which were comprised of the following:

• $29.1 million and $112.8 million, respectively, for severance and employee benefit costs relating to the reduction of corporate and field positions across the Company.

• $10.6 million and $49.0 million, respectively, associated with other implementation costs, primarily for professional fees, and contract and lease termination costs.

• $41.2 million and $176.4 million, respectively, relating to non-cash asset write-downs and accelerated depreciation for the planned closure and consolidation of 6 factories across the U.S., Canada and Europe.

Of the $80.9 million and $338.2 million total pre-tax charges for the three and nine months ended September 28, 2014, $67.6 million and $292.9 million was recorded in cost of products sold and $13.3 million and $45.3 million in selling, general and administrative expenses ("SG&A"), respectively.

The Company recorded pre-tax costs related to these initiatives of $67.3 million in the three months ended September 22, 2013 (the Three Month Successor period) and $69.9 million in the Successor period from February 8, 2013 to September 22, 2013 (the Year-to-Date Successor period), respectively, which were comprised of the following:

• $64.9 million for the Three Month Successor period and $67.5 million for the Year-to-Date Successor period, respectively, for severance and employee benefit costs relating to the reduction of corporate and field positions across the Company.

• $2.4 million for the Three Month Successor period and Year-to-Date Successor period associated with other implementation costs, primarily for professional fees, and contract and lease termination costs.

Of the $67.3 million total pre-tax charges in the Three Month Successor period ended September 22, 2013, $20.8 million was recorded in cost of products sold and $46.5 million in SG&A, respectively. Of the $69.9 million total pre-tax charges in the Year-to-Date Successor period ended September 22, 2013, $23.2 million was recorded in Cost of products sold and $46.7 million in SG&A, respectively.

The Company does not include productivity charges in the results of its reportable segments. The pre-tax impact of allocating such charges to segment results would have been as follows:

	Successor
	June 30 - September 28, 2014		June 24 - September 22, 2013
	(In millions)
North America	$	5.2	$	39.2
Europe	63.1		1.4
Asia/Pacific	8.0		3.5
Latin America	3.5		15.3
RIMEA	0.9		1.0
Non-Operating	0.2		6.9
Total productivity charges	$	80.9	$	67.3

	Successor				Predecessor
	December 30, 2013 - September 28, 2014		February 8 - September 22, 2013		December 24, 2012 - June 7, 2013
	(In millions)
North America	$	161.1	$	39.2	$	—
Europe	126.4		1.4		3.6
Asia/Pacific	26.5		6.1		2.4
Latin America	3.7		15.3		—
RIMEA	2.5		1.0		—
Non-Operating	18.0		6.9		—
Total productivity charges	$	338.2	$	69.9	$	6.0

Activity in other accrued liability balances for restructuring and productivity charges incurred by the Successor were as follows:

	Severance and other severance related costs (a)			Other exit costs (b)			Total
	(In millions)
Accrual balance at December 29, 2013	$	66.3		$	41.6		$	107.9
2014 Restructuring and productivity initiatives	112.8			49.0			161.8
Cash payments	(120.5		)	(59.8		)	(180.3		)
Accrual balance at September 28, 2014	$	58.6		$	30.8		$	89.4

______________________________________

(a) The accrual balance for severance and other severance related costs at December 29, 2013 shown in the above table has been revised to correct the prior period disclosure, decreasing the balance by $27.0 million.  The revision impacted only the disclosed amount and had no impact on the Company's condensed consolidated financial statements.

(b) Other exit costs primarily represent professional fees, and contract and lease termination costs.

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Derivative Financial Instruments and Hedging Activities (Balance Sheet Captions) (Details) (USD $) In Thousands, unless otherwise specified	Sep. 28, 2014 Successor Foreign exchange contracts	Sep. 28, 2014 Successor Foreign exchange contracts Designated as Hedging Instrument	Sep. 28, 2014 Successor Foreign exchange contracts Designated as Hedging Instrument Other Receivables, Net	Sep. 28, 2014 Successor Foreign exchange contracts Designated as Hedging Instrument Other Non-Current Assets	Sep. 28, 2014 Successor Foreign exchange contracts Designated as Hedging Instrument Other Payables	Sep. 28, 2014 Successor Foreign exchange contracts Designated as Hedging Instrument Other Non-Current Liabilities	Sep. 28, 2014 Successor Foreign exchange contracts Not Designated as Hedging Instrument	Sep. 28, 2014 Successor Foreign exchange contracts Not Designated as Hedging Instrument Other Receivables, Net	Sep. 28, 2014 Successor Foreign exchange contracts Not Designated as Hedging Instrument Other Non-Current Assets	Sep. 28, 2014 Successor Foreign exchange contracts Not Designated as Hedging Instrument Other Payables	Sep. 28, 2014 Successor Foreign exchange contracts Not Designated as Hedging Instrument Other Non-Current Liabilities	Sep. 28, 2014 Successor Interest rate contracts	Sep. 28, 2014 Successor Interest rate contracts Designated as Hedging Instrument	Sep. 28, 2014 Successor Interest rate contracts Designated as Hedging Instrument Other Receivables, Net	Sep. 28, 2014 Successor Interest rate contracts Designated as Hedging Instrument Other Non-Current Assets	Sep. 28, 2014 Successor Interest rate contracts Designated as Hedging Instrument Other Payables	Sep. 28, 2014 Successor Interest rate contracts Designated as Hedging Instrument Other Non-Current Liabilities	Sep. 28, 2014 Successor Interest rate contracts Not Designated as Hedging Instrument	Sep. 28, 2014 Successor Interest rate contracts Not Designated as Hedging Instrument Other Receivables, Net	Sep. 28, 2014 Successor Interest rate contracts Not Designated as Hedging Instrument Other Non-Current Assets	Sep. 28, 2014 Successor Interest rate contracts Not Designated as Hedging Instrument Other Payables	Sep. 28, 2014 Successor Interest rate contracts Not Designated as Hedging Instrument Other Non-Current Liabilities	Sep. 28, 2014 Successor Cross-currency interest rate swap contracts	Sep. 28, 2014 Successor Cross-currency interest rate swap contracts Designated as Hedging Instrument	Sep. 28, 2014 Successor Cross-currency interest rate swap contracts Designated as Hedging Instrument Other Receivables, Net	Sep. 28, 2014 Successor Cross-currency interest rate swap contracts Designated as Hedging Instrument Other Non-Current Assets	Sep. 28, 2014 Successor Cross-currency interest rate swap contracts Designated as Hedging Instrument Other Payables	Sep. 28, 2014 Successor Cross-currency interest rate swap contracts Designated as Hedging Instrument Other Non-Current Liabilities	Sep. 28, 2014 Successor Cross-currency interest rate swap contracts Not Designated as Hedging Instrument	Sep. 28, 2014 Successor Cross-currency interest rate swap contracts Not Designated as Hedging Instrument Other Receivables, Net	Sep. 28, 2014 Successor Cross-currency interest rate swap contracts Not Designated as Hedging Instrument Other Non-Current Assets	Sep. 28, 2014 Successor Cross-currency interest rate swap contracts Not Designated as Hedging Instrument Other Payables	Sep. 28, 2014 Successor Cross-currency interest rate swap contracts Not Designated as Hedging Instrument Other Non-Current Liabilities	Dec. 29, 2013 Predecessor Foreign exchange contracts	Dec. 29, 2013 Predecessor Foreign exchange contracts Designated as Hedging Instrument	Dec. 29, 2013 Predecessor Foreign exchange contracts Designated as Hedging Instrument Other Receivables, Net	Dec. 29, 2013 Predecessor Foreign exchange contracts Designated as Hedging Instrument Other Non-Current Assets	Dec. 29, 2013 Predecessor Foreign exchange contracts Designated as Hedging Instrument Other Payables	Dec. 29, 2013 Predecessor Foreign exchange contracts Designated as Hedging Instrument Other Non-Current Liabilities	Dec. 29, 2013 Predecessor Foreign exchange contracts Not Designated as Hedging Instrument	Dec. 29, 2013 Predecessor Foreign exchange contracts Not Designated as Hedging Instrument Other Receivables, Net	Dec. 29, 2013 Predecessor Foreign exchange contracts Not Designated as Hedging Instrument Other Non-Current Assets	Dec. 29, 2013 Predecessor Foreign exchange contracts Not Designated as Hedging Instrument Other Payables	Dec. 29, 2013 Predecessor Foreign exchange contracts Not Designated as Hedging Instrument Other Non-Current Liabilities	Dec. 29, 2013 Predecessor Interest rate contracts	Dec. 29, 2013 Predecessor Interest rate contracts Designated as Hedging Instrument	Dec. 29, 2013 Predecessor Interest rate contracts Designated as Hedging Instrument Other Receivables, Net	Dec. 29, 2013 Predecessor Interest rate contracts Designated as Hedging Instrument Other Non-Current Assets	Dec. 29, 2013 Predecessor Interest rate contracts Designated as Hedging Instrument Other Payables	Dec. 29, 2013 Predecessor Interest rate contracts Designated as Hedging Instrument Other Non-Current Liabilities	Dec. 29, 2013 Predecessor Interest rate contracts Not Designated as Hedging Instrument	Dec. 29, 2013 Predecessor Interest rate contracts Not Designated as Hedging Instrument Other Receivables, Net	Dec. 29, 2013 Predecessor Interest rate contracts Not Designated as Hedging Instrument Other Non-Current Assets	Dec. 29, 2013 Predecessor Interest rate contracts Not Designated as Hedging Instrument Other Payables	Dec. 29, 2013 Predecessor Interest rate contracts Not Designated as Hedging Instrument Other Non-Current Liabilities	Dec. 29, 2013 Predecessor Cross-currency interest rate swap contracts	Dec. 29, 2013 Predecessor Cross-currency interest rate swap contracts Designated as Hedging Instrument	Dec. 29, 2013 Predecessor Cross-currency interest rate swap contracts Designated as Hedging Instrument Other Receivables, Net	Dec. 29, 2013 Predecessor Cross-currency interest rate swap contracts Designated as Hedging Instrument Other Non-Current Assets	Dec. 29, 2013 Predecessor Cross-currency interest rate swap contracts Designated as Hedging Instrument Other Payables	Dec. 29, 2013 Predecessor Cross-currency interest rate swap contracts Designated as Hedging Instrument Other Non-Current Liabilities	Dec. 29, 2013 Predecessor Cross-currency interest rate swap contracts Not Designated as Hedging Instrument	Dec. 29, 2013 Predecessor Cross-currency interest rate swap contracts Not Designated as Hedging Instrument Other Receivables, Net	Dec. 29, 2013 Predecessor Cross-currency interest rate swap contracts Not Designated as Hedging Instrument Other Non-Current Assets	Dec. 29, 2013 Predecessor Cross-currency interest rate swap contracts Not Designated as Hedging Instrument Other Payables	Dec. 29, 2013 Predecessor Cross-currency interest rate swap contracts Not Designated as Hedging Instrument Other Non-Current Liabilities
Assets:
Total assets	$ 116,950	$ 27,733	$ 24,828	$ 2,905			$ 89,217	$ 89,217	$ 0			$ 87,508	$ 87,508	$ 0	$ 87,508			$ 0	$ 0	$ 0			$ 79,563	$ 79,563	$ 0	$ 79,563			$ 0	$ 0	$ 0			$ 49,972	$ 41,201	$ 37,072	$ 4,129			$ 8,771	$ 8,771	$ 0			$ 265,390	$ 265,390	$ 0	$ 265,390			$ 0	$ 0	$ 0			$ 31,303	$ 31,303	$ 0	$ 31,303			$ 0	$ 0	$ 0
Liabilities:
Total liabilities	$ 31,053	$ 28,884			$ 25,331	$ 3,553				$ 2,169	$ 0	$ 0	$ 0			$ 0	$ 0				$ 0	$ 0	$ 94,384	$ 94,384			$ 0	$ 94,384				$ 0	$ 0	$ 15,537	$ 5,251			$ 5,251	$ 0				$ 10,286	$ 0	$ 0	$ 0			$ 0	$ 0				$ 0	$ 0	$ 221,899	$ 221,899			$ 0	$ 221,899				$ 0	$ 0

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Discontinued Operations (Tables)

9 Months Ended

Sep. 28, 2014

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block]

The following table presents summarized operating results for this discontinued operation:

	Successor
	June 30 - September 28, 2014		June 24 - September 22, 2013
	(In millions)
Sales	$	—	$	3.0
Net loss	$	—	$	(4.9	)

	Successor					Predecessor
	December 30, 2013 - September 28, 2014		February 8 - September 22, 2013			December 24, 2012 - June 7, 2013
	(In millions)
Sales	$	—	$	3.0		$	26.5
Net loss	$	—	$	(4.9	)	$	(3.7	)

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Merger and Acquisition (Narrative) (Details) (USD $)	9 Months Ended		3 Months Ended				7 Months Ended	9 Months Ended			3 Months Ended		6 Months Ended		0 Months Ended	4 Months Ended	6 Months Ended
	Sep. 28, 2014	Dec. 29, 2013	Sep. 28, 2014 Successor		Sep. 22, 2013 Successor		Sep. 22, 2013 Successor	Sep. 28, 2014 Successor		Dec. 29, 2013 Successor	Jun. 07, 2013 Predecessor		Jun. 07, 2013 Predecessor		Jun. 07, 2013 H.J. Heinz Holding Corporation	Jun. 07, 2013 H.J. Heinz Holding Corporation	Jun. 07, 2013 H.J. Heinz Holding Corporation Predecessor
Business Acquisition [Line Items]
Decrease in indefinite-lived trademarks	$ 492,900,000
Business combination, total cash consideration															23,564,254,000	28,750,000,000
Increase in long term deferred income tax assets	24,000,000
Decrease in long term deferred tax liabilities	165,800,000
Reduction in income tax payable	58,600,000
Increase in Goodwill	249,900,000							249,913,000
Goodwill on acquisition	15,167,591,000	15,070,062,000	15,167,591,000					15,167,591,000		15,070,062,000						15,266,720,000
Merger related costs			0	[1]	97,798,000	[1]	153,791,000	0	[1]		144,169,000	[1]	157,002,000	[1]	58,242,000
Accelerated expense for stock options													48,100,000
Loss from extinguishment of debt			$ 0		$ 0		$ 0	$ 0			$ 129,367,000		$ 129,367,000				$ 129,400,000

[1] See Note 2 for further details on Merger related costs.

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Fair Value Measurements

9 Months Ended

Sep. 28, 2014

Fair Value Disclosures [Abstract]

Fair Value Measurements

Fair Value Measurements

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value hierarchy consists of three levels to prioritize the inputs used in valuations, as defined below:

Level 1:  Observable inputs that reflect unadjusted quoted prices for identical assets or liabilities in active markets.

Level 2:  Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly.

Level 3:  Unobservable inputs for the asset or liability.

As of September 28, 2014 and December 29, 2013, the fair values of the Company’s assets and liabilities measured on a recurring basis are categorized as follows:

	September 28, 2014								December 29, 2013
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
	(In thousands)
Assets:
Derivatives(a)	$	—	$	284,021	$	—	$	284,021	$	—	$	346,665	$	—	$	346,665
Total assets at fair value	$	—	$	284,021	$	—	$	284,021	$	—	$	346,665	$	—	$	346,665
Liabilities:
Derivatives(a)	$	—	$	125,437	$	—	$	125,437	$	—	$	237,436	$	—	$	237,436
Total liabilities at fair value	$	—	$	125,437	$	—	$	125,437	$	—	$	237,436	$	—	$	237,436

_______________________________________

(a) Foreign currency derivative contracts are valued based on observable market spot and forward rates and classified within Level 2 of the fair value hierarchy. Interest rate swaps are valued based on observable market swap rates and classified within Level 2 of the fair value hierarchy. Cross-currency swaps are valued based on observable market spot and swap rates and classified within Level 2 of the fair value hierarchy.

The aggregate fair value of the Company's long-term debt, including the current portion, was $14.5 billion as compared with the carrying value of $14.6 billion at September 28, 2014, and $14.7 billion as compared with the carrying value of $14.7 billion at December 29, 2013. The Company's debt obligations are valued based on market quotes and are classified within Level 2 of the fair value hierarchy.

There have been no transfers between Levels 1, 2 and 3 in the third quarters ended September 28, 2014 and September 22, 2013, respectively.