v3.25.1

CONSOLIDATED BALANCE SHEET (Unaudited) - USD ($) $ in Millions	Mar. 29, 2025	Dec. 28, 2024
Current assets
Cash and cash equivalents	$ 330	$ 694
Accounts receivable, net	1,572	1,522
Inventories	1,223	1,165
Other current assets	349	373
Total current assets	3,474	3,754
Property, net	3,345	3,234
Operating lease right-of-use assets	606	601
Goodwill	5,020	5,003
Other intangibles, net	1,774	1,760
Investments in unconsolidated entities	103	99
Other assets	1,152	1,177
Total assets	15,474	15,628
Current liabilities
Current maturities of long-term debt	4	632
Notes payable	586	113
Accounts payable	2,129	2,236
Current operating lease liabilities	141	134
Accrued advertising and promotion	572	611
Accrued salaries and wages	185	259
Other current liabilities	724	675
Total current liabilities	4,341	4,660
Long-term debt	5,027	4,998
Operating lease liabilities	462	465
Deferred income taxes	579	541
Pension liability	580	599
Other liabilities	460	483
Commitments and contingencies
Equity
Common stock, $.25 par value	105	105
Capital in excess of par value	1,005	1,121
Retained earnings	9,497	9,358
Treasury stock, at cost	(4,425)	(4,533)
Accumulated other comprehensive income (loss)	(2,267)	(2,276)
Total Kellanova equity	3,915	3,775
Noncontrolling interests	110	107
Total equity	4,025	3,882
Total liabilities and equity	$ 15,474	$ 15,628

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

KELLANOVA 10-Q