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From the OP:
If Kraft Heinz had properly recorded these transactions, its cost of goods sold would have been about $50 million higher between 2015 and the end of 2018, the SEC concluded.
The SEC said the company’s actions artificially inflated earnings before interest, taxes, depreciation and amortization, a metric used by investors to judge operating performance.
The motivation to show drastic year-over-year cost savings was partly personal — executives bonuses were heavily reliant on this metric.
The SEC said the company’s actions artificially inflated earnings before interest, taxes, depreciation and amortization, a metric used by investors to judge operating performance.
The motivation to show drastic year-over-year cost savings was partly personal — executives bonuses were heavily reliant on this metric.
They were all in on it because they all got their yearly bonuses.
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