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Financial Instruments - Fair Value of Contingent Consideration Liability (Details) - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
Aug. 01, 2022
Derivative [Line Items]      
Total contingent consideration $ 167 $ 179  
Quoted Prices in Active Markets for Identical Assets (Level 1)      
Derivative [Line Items]      
Total contingent consideration 0 0  
Significant Other Observable Inputs (Level 2)      
Derivative [Line Items]      
Total contingent consideration 0 0  
Significant Unobservable Inputs (Level 3)      
Derivative [Line Items]      
Total contingent consideration 167 179  
Clif Bar      
Derivative [Line Items]      
Total contingent consideration [1] 99 124  
Clif Bar | Minimum      
Derivative [Line Items]      
Possible payments, minimum     $ 0
Clif Bar | Maximum      
Derivative [Line Items]      
Possible payments, maximum     $ 2,400
Clif Bar | Quoted Prices in Active Markets for Identical Assets (Level 1)      
Derivative [Line Items]      
Total contingent consideration [1] 0 0  
Clif Bar | Significant Other Observable Inputs (Level 2)      
Derivative [Line Items]      
Total contingent consideration [1] 0 0  
Clif Bar | Significant Unobservable Inputs (Level 3)      
Derivative [Line Items]      
Total contingent consideration [1] 99 124  
Other      
Derivative [Line Items]      
Total contingent consideration [2] 68 55  
Other | Quoted Prices in Active Markets for Identical Assets (Level 1)      
Derivative [Line Items]      
Total contingent consideration [2] 0 0  
Other | Significant Other Observable Inputs (Level 2)      
Derivative [Line Items]      
Total contingent consideration [2] 0 0  
Other | Significant Unobservable Inputs (Level 3)      
Derivative [Line Items]      
Total contingent consideration [2] $ 68 $ 55  
[1] In connection with the Clif Bar acquisition, we entered into a contingent consideration arrangement that may require us to pay additional consideration to the sellers for achieving certain net revenue, gross profit and EBITDA targets in 2025 and 2026 that exceed our base financial projections for the business implied in the upfront purchase price. The possible payments range from zero to a maximum total of $2.4 billion, with higher payouts requiring the achievement of targets that generate rates of returns in excess of the base financial projections. The contingent consideration liabilities are recorded at fair value and primarily recorded in other liabilities as of March 31, 2025 and December 31, 2024. The estimated fair value of the contingent consideration obligation is determined using a Monte Carlo simulation. Significant assumptions used in assessing the fair value of the liability include financial projections for net revenue, gross profit and EBITDA, as well as discount and volatility rates. Fair value adjustments are primarily recorded in selling, general and administrative expenses in the condensed consolidated statement of earnings.
[2] The other contingent consideration liabilities are recorded at fair value and recorded in other liabilities as of March 31, 2025 and December 31, 2024. Fair value adjustments were recorded in selling, general and administrative expenses in the condensed consolidated statement of earnings.