Mondelez International : Q2 2021 Financial Schedules and GAAP to Non-GAAP Information

Schedule 1 PnL

Schedule 1
Mondelēz International, Inc. and Subsidiaries
Condensed Consolidated Statements of Earnings
(in millions of U.S. dollars and shares, except per share data)
(Unaudited)
For the Three Months Ended June 30,	For the Six Months Ended June 30,
2021	2020	2021	2020
Net revenues	$ 6,642	$ 5,911	$ 13,880	$ 12,618
Cost of sales	4,011	3,580	8,283	7,836
Gross profit	2,631	2,331	5,597	4,782
Gross profit margin	39.6%	39.4%	40.3%	37.9%
Selling, general and administrative expenses	1,593	1,453	3,157	2,990
Asset impairment and exit costs	134	115	224	130
Gain on acquisition	-	-	(9)	-
Amortization of intangible assets	32	50	70	93
Operating income	872	713	2,155	1,569
Operating income margin	13.1%	12.1%	15.5%	12.4%
Benefit plan non-service income	(54)	(31)	(98)	(64)
Interest and other expense, net	58	85	276	275
Earnings before income taxes	868	659	1,977	1,358
Income tax provision	(398)	(341)	(610)	(489)
Effective tax rate	45.9%	51.7%	30.9%	36.0%
Gain on equity method investment transactions	502	121	495	192
Equity method investment net earnings	107	106	185	227
Net earnings	1,079	545	2,047	1,288
Noncontrolling interest earnings	(1)	(1)	(8)	(8)
Net earnings attributable to Mondelēz International	$ 1,078	$ 544	$ 2,039	$ 1,280
Per share data:
Basic earnings per share attributable to Mondelēz International	$ 0.77	$ 0.38	$ 1.45	$ 0.89
Diluted earnings per share attributable to Mondelēz International	$ 0.76	$ 0.38	$ 1.44	$ 0.89
Average shares outstanding:
Basic	1,407	1,431	1,410	1,432
Diluted	1,416	1,439	1,419	1,442

Schedule 2 BS

Schedule 2
Mondelēz International, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(in millions of U.S. dollars)
(Unaudited)
June 30,	December 31,
2021	2020
ASSETS
Cash and cash equivalents	$ 1,938	$ 3,619
Trade receivables	2,226	2,297
Other receivables	687	657
Inventories, net	2,925	2,647
Other current assets	878	759
Total current assets	8,654	9,979
Property, plant and equipment, net	8,857	9,026
Operating lease right of use assets	653	638
Goodwill	22,270	21,895
Intangible assets, net	18,691	18,482
Prepaid pension assets	802	672
Deferred income taxes	723	790
Equity method investments	5,586	6,036
Other assets	241	292
TOTAL ASSETS	$ 66,477	$ 67,810
LIABILITIES
Short-term borrowings	$ 64	$ 29
Current portion of long-term debt	1,905	2,741
Accounts payable	6,375	6,209
Accrued marketing	1,966	2,130
Accrued employment costs	743	834
Other current liabilities	3,032	3,216
Total current liabilities	14,085	15,159
Long-term debt	17,046	17,276
Long-term operating lease liabilities	489	470
Deferred income taxes	3,436	3,346
Accrued pension costs	1,135	1,257
Accrued postretirement health care costs	346	346
Other liabilities	2,320	2,302
TOTAL LIABILITIES	38,857	40,156
EQUITY
Common Stock	-	-
Additional paid-in capital	32,042	32,070
Retained earnings	29,538	28,402
Accumulated other comprehensive losses	(10,572)	(10,690)
Treasury stock	(23,465)	(22,204)
Total Mondelēz International Shareholders' Equity	27,543	27,578
Noncontrolling interest	77	76
TOTAL EQUITY	27,620	27,654
TOTAL LIABILITIES AND EQUITY	$ 66,477	$ 67,810
June 30,	December 31,
2021	2020	Incr/(Decr)
Short-term borrowings	$ 64	$ 29	$ 35
Current portion of long-term debt	1,905	2,741	(836)
Long-term debt	17,046	17,276	(230)
Total Debt	19,015	20,046	(1,031)
Cash and cash equivalents	1,938	3,619	(1,681)
Net Debt (1)	$ 17,077	$ 16,427	$ 650
(1) Net debt is defined as total debt, which includes short-term borrowings, current portion of long-term debt and long-term debt, less cash and cash equivalents.

Schedule 3 CF

Schedule 3
Mondelēz International, Inc. and Subsidiaries
Condensed Consolidated Statements of Cash Flows
(in millions of U.S. dollars)
(Unaudited)
For the Six Months Ended June 30,
2021	2020
CASH PROVIDED BY/(USED IN) OPERATING ACTIVITIES
Net earnings	$ 2,047	$ 1,288
Adjustments to reconcile net earnings to operating cash flows:
Depreciation and amortization	564	528
Stock-based compensation expense	63	63
Deferred income tax provision/(benefit)	92	(110)
Asset impairments and accelerated depreciation	152	99
Loss on early extinguishment of debt	110	-
Gain on acquisition	(9)	-
Gain on equity method investment transactions	(495)	(192)
Equity method investment net earnings	(185)	(227)
Distributions from equity method investments	94	193
Other non-cash items, net	(5)	154
Change in assets and liabilities, net of acquisitions:
Receivables, net	42	328
Inventories, net	(289)	(233)
Accounts payable	182	75
Other current assets	(190)	(62)
Other current liabilities	(231)	(224)
Change in pension and postretirement assets and liabilities, net	(150)	(122)
Net cash provided by/(used in) operating activities	1,792	1,558
CASH PROVIDED BY/(USED IN) INVESTING ACTIVITIES
Capital expenditures	(410)	(445)
Acquisitions, net of cash received	(833)	(1,141)
Proceeds from divestitures including equity method investments	998	579
Other	25	(30)
Net cash provided by/(used in) investing activities	(220)	(1,037)
CASH PROVIDED BY/(USED IN) FINANCING ACTIVITIES
Issuances of commercial paper, maturities greater than 90 days	-	677
Repayments of commercial paper, maturities greater than 90 days	-	(654)
Net issuances of other short-term borrowings	37	109
Long-term debt proceeds	2,378	2,533
Long-term debt repaid	(3,376)	(1,430)
Repurchase of Common Stock	(1,498)	(720)
Dividends paid	(896)	(819)
Other	127	123
Net cash provided by/(used in) financing activities	(3,228)	(181)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(25)	(37)
Cash, Cash Equivalents and Restricted Cash
(Decrease) / increase	(1,681)	303
Balance at beginning of period	3,650	1,328
Balance at end of period	$ 1,969	$ 1,631

Schedule 4a Org Rev

Schedule 4a
Mondelēz International, Inc. and Subsidiaries
Reconciliation of GAAP to Non-GAAP Measures
Net Revenues
(in millions of U.S. dollars)
(Unaudited)
Latin America	AMEA	Europe	North America	Mondelēz International
For the Three Months Ended June 30, 2021
Reported (GAAP)	$ 669	$ 1,452	$ 2,474	$ 2,047	$ 6,642
Acquisitions	-	(23)	(21)	(8)	(52)
Currency	14	(106)	(199)	(20)	(311)
Organic (Non-GAAP)	$ 683	$ 1,323	$ 2,254	$ 2,019	$ 6,279
For the Three Months Ended June 30, 2020
Reported (GAAP)	$ 511	$ 1,237	$ 2,138	$ 2,025	$ 5,911
Divestitures	-	-	-	-	-
Organic (Non-GAAP)	$ 511	$ 1,237	$ 2,138	$ 2,025	$ 5,911
% Change
Reported (GAAP)	30.9%	17.4%	15.7%	1.1%	12.4%
Divestitures	- pp	- pp	- pp	- pp	- pp
Acquisitions	-	(1.8)	(1.0)	(0.4)	(0.9)
Currency	2.8	(8.6)	(9.3)	(1.0)	(5.3)
Organic (Non-GAAP)	33.7%	7.0%	5.4%	(0.3)%	6.2%
Vol/Mix	18.8 pp	5.1 pp	4.2 pp	(0.5)pp	4.0 pp
Pricing	14.9	1.9	1.2	0.2	2.2
Latin America	AMEA	Europe	North America	Mondelēz International
For the Six Months Ended June 30, 2021
Reported (GAAP)	$ 1,338	$ 3,197	$ 5,321	$ 4,024	$ 13,880
Acquisitions	-	(23)	(21)	(122)	(166)
Currency	123	(187)	(376)	(31)	(471)
Organic (Non-GAAP)	$ 1,461	$ 2,987	$ 4,924	$ 3,871	$ 13,243
For the Six Months Ended June 30, 2020
Reported (GAAP)	$ 1,237	$ 2,739	$ 4,722	$ 3,920	$ 12,618
Divestitures	-	-	-	-	-
Organic (Non-GAAP)	$ 1,237	$ 2,739	$ 4,722	$ 3,920	$ 12,618
% Change
Reported (GAAP)	8.2%	16.7%	12.7%	2.7%	10.0%
Divestitures	- pp	- pp	- pp	- pp	- pp
Acquisitions	-	(0.8)	(0.4)	(3.2)	(1.3)
Currency	9.9	(6.8)	(8.0)	(0.8)	(3.7)
Organic (Non-GAAP)	18.1%	9.1%	4.3%	(1.3)%	5.0%
Vol/Mix	6.0 pp	6.7 pp	3.2 pp	(1.7)pp	2.8 pp
Pricing	12.1	2.4	1.1	0.4	2.2

Schedule 4b Org Rev

Schedule 4b
Mondelēz International, Inc. and Subsidiaries
Reconciliation of GAAP to Non-GAAP Measures
Net Revenues - Markets
(in millions of U.S. dollars)
(Unaudited)
Emerging Markets	Developed Markets	Mondelēz International
For the Three Months Ended June 30, 2021
Reported (GAAP)	$ 2,293	$ 4,349	$ 6,642
Acquisitions	-	(52)	(52)
Currency	(60)	(251)	(311)
Organic (Non-GAAP)	$ 2,233	$ 4,046	$ 6,279
For the Three Months Ended June 30, 2020
Reported (GAAP)	$ 1,917	$ 3,994	$ 5,911
Divestitures	-	-	-
Organic (Non-GAAP)	$ 1,917	$ 3,994	$ 5,911
% Change
Reported (GAAP)	19.6%	8.9%	12.4%
Divestitures	- pp	- pp	- pp
Acquisitions	-	(1.3)	(0.9)
Currency	(3.1)	(6.3)	(5.3)
Organic (Non-GAAP)	16.5%	1.3%	6.2%
Vol/Mix	10.6 pp	0.9 pp	4.0 pp
Pricing	5.9	0.4	2.2
Emerging Markets	Developed Markets	Mondelēz International
For the Six Months Ended June 30, 2021
Reported (GAAP)	$ 4,856	$ 9,024	$ 13,880
Acquisitions	-	(166)	(166)
Currency	34	(505)	(471)
Organic (Non-GAAP)	$ 4,890	$ 8,353	$ 13,243
For the Six Months Ended June 30, 2020
Reported (GAAP)	$ 4,334	$ 8,284	$ 12,618
Divestitures	-	-	-
Organic (Non-GAAP)	$ 4,334	$ 8,284	$ 12,618
% Change
Reported (GAAP)	12.0%	8.9%	10.0%
Divestitures	- pp	- pp	- pp
Acquisitions	-	(2.0)	(1.3)
Currency	0.8	(6.1)	(3.7)
Organic (Non-GAAP)	12.8%	0.8%	5.0%
Vol/Mix	7.3 pp	0.3 pp	2.8 pp
Pricing	5.5	0.5	2.2

Schedule 5a GP_OI

Schedule 5a
Mondelēz International, Inc. and Subsidiaries
Reconciliation of GAAP to Non-GAAP Measures
Gross Profit / Operating Income
(in millions of U.S. dollars)
(Unaudited)
For the Three Months Ended June 30, 2021
Net Revenues	Gross Profit	Gross Profit Margin	Operating Income	Operating Income Margin
Reported (GAAP)	$ 6,642	$ 2,631	39.6%	$ 872	13.1%
Simplify to Grow Program	-	20	132
Intangible asset impairment charges	-	-	32
Mark-to-market (gains)/losses from derivatives	-	(21)	(20)
Acquisition integration costs	-	1	2
Acquisition-related costs	-	-	17
Remeasurement of net monetary position	-	-	3
Impact from pension participation changes	-	18	44
Impact from resolution of tax matters	-	-	(5)
Adjusted (Non-GAAP)	$ 6,642	$ 2,649	39.9%	$ 1,077	16.2%
Currency	(134)	(67)
Adjusted @ Constant FX (Non-GAAP)	$ 2,515	$ 1,010
For the Three Months Ended June 30, 2020
Net Revenues	Gross Profit	Gross Profit Margin	Operating Income	Operating Income Margin
Reported (GAAP)	$ 5,911	$ 2,331	39.4%	$ 713	12.1%
Simplify to Grow Program	-	15	76
Intangible asset impairment charges	-	-	90
Mark-to-market (gains)/losses from derivatives	-	1	2
Acquisition integration costs	-	-	2
Acquisition-related costs	-	-	10
Divestiture-related costs	-	(1)	(2)
Costs associated with JDE Peet's transaction	-	-	48
Remeasurement of net monetary position	-	-	3
Rounding	-	1	-
Adjusted (Non-GAAP)	$ 5,911	$ 2,347	39.7%	$ 942	15.9%
Gross Profit	Operating Income
$ Change - Reported (GAAP)	$ 300	$ 159
$ Change - Adjusted (Non-GAAP)	302	135
$ Change - Adjusted @ Constant FX (Non-GAAP)	168	68
% Change - Reported (GAAP)	12.9%	22.3%
% Change - Adjusted (Non-GAAP)	12.9%	14.3%
% Change - Adjusted @ Constant FX (Non-GAAP)	7.2%	7.2%

Schedule 5b GP_OI

Schedule 5b
Mondelēz International, Inc. and Subsidiaries
Reconciliation of GAAP to Non-GAAP Measures
Gross Profit / Operating Income
(in millions of U.S. dollars)
(Unaudited)
For the Six Months Ended June 30, 2021
Net Revenues	Gross Profit	Gross Profit Margin	Operating Income	Operating Income Margin
Reported (GAAP)	$ 13,880	$ 5,597	40.3%	$ 2,155	15.5%
Simplify to Grow Program	-	35	254
Intangible asset impairment charges	-	-	32
Mark-to-market (gains)/losses from derivatives	-	(137)	(138)
Acquisition integration costs	-	1	3
Acquisition-related costs	-	-	24
Gain on acquisition	-	-	(9)
Remeasurement of net monetary position	-	-	8
Impact from pension participation changes	-	19	45
Impact from resolution of tax matters	-	-	(5)
Adjusted (Non-GAAP)	$ 13,880	$ 5,515	39.7%	$ 2,369	17.1%
Currency	(210)	(111)
Adjusted @ Constant FX (Non-GAAP)	$ 5,305	$ 2,258
For the Six Months Ended June 30, 2020
Net Revenues	Gross Profit	Gross Profit Margin	Operating Income	Operating Income Margin
Reported (GAAP)	$ 12,618	$ 4,782	37.9%	$ 1,569	12.4%
Simplify to Grow Program	-	34	134
Intangible asset impairment charges	-	-	90
Mark-to-market (gains)/losses from derivatives	-	187	187
Acquisition integration costs	-	-	2
Acquisition-related costs	-	-	15
Divestiture-related costs	-	(1)	(2)
Costs associated with JDE Peet's transaction	-	-	48
Remeasurement of net monetary position	-	-	5
Rounding	-	1	-
Adjusted (Non-GAAP)	$ 12,618	$ 5,003	39.6%	$ 2,048	16.2%
Gross Profit	Operating Income
$ Change - Reported (GAAP)	$ 815	$ 586
$ Change - Adjusted (Non-GAAP)	512	321
$ Change - Adjusted @ Constant FX (Non-GAAP)	302	210
% Change - Reported (GAAP)	17.0%	37.3%
% Change - Adjusted (Non-GAAP)	10.2%	15.7%
% Change - Adjusted @ Constant FX (Non-GAAP)	6.0%	10.3%

Schedule 6a Cons IS

Schedule 6a
Mondelēz International, Inc. and Subsidiaries
Reconciliation of GAAP to Non-GAAP Measures
Net Earnings and Tax Rate
(in millions of U.S. dollars and shares, except per share data)
(Unaudited)
For the Three Months Ended June 30, 2021
Operating Income	Benefit plan non-service expense / (income)	Interest and other expense, net	Earnings before income taxes	Income taxes (1)	Effective tax rate	Gain on equity method investment transactions	Equity method investment net losses / (earnings)	Non-controlling interest earnings	Net Earnings attributable to Mondelēz International	Diluted EPS attributable to Mondelēz International
Reported (GAAP)	$ 872	$ (54)	$ 58	$ 868	$ 398	45.9 %	$ (502)	$ (107)	$ 1	$ 1,078	$ 0.76
Simplify to Grow Program	132	(1)	-	133	35	-	-	-	98	0.07
Intangible asset impairment charges	32	-	-	32	8	-	-	-	24	0.02
Mark-to-market (gains)/losses from derivatives	(20)	-	(3)	(17)	4	-	-	-	(21)	(0.02)
Acquisition integration costs	2	-	-	2	1	-	-	-	1	-
Acquisition-related costs	17	-	-	17	3	-	-	-	14	0.01
Remeasurement of net monetary position	3	-	-	3	-	-	-	-	3	-
Impact from pension participation changes	44	14	(3)	33	7	-	-	-	26	0.02
Impact from resolution of tax matters	(5)	-	2	(7)	(1)	-	-	-	(6)	-
Initial impacts from enacted tax law changes	-	-	-	-	(95)	-	-	-	95	0.07
Gain on equity method investment transactions	-	-	-	-	(125)	502	-	-	(377)	(0.27)
Equity method investee items	-	-	-	-	3	-	(8)	-	5	-
Adjusted (Non-GAAP)	$ 1,077	$ (41)	$ 54	$ 1,064	$ 238	22.4 %	$ -	$ (115)	$ 1	$ 940	$ 0.66
Currency	(60)	(0.04)
Adjusted @ Constant FX (Non-GAAP)	$ 880	$ 0.62
Diluted Average Shares Outstanding	1,416
For the Three Months Ended June 30, 2020
Operating Income	Benefit plan non-service expense / (income)	Interest and other expense, net	Earnings before income taxes	Income taxes (1)	Effective tax rate	Gain on equity method investment transactions	Equity method investment net losses / (earnings)	Non-controlling interest earnings	Net Earnings attributable to Mondelēz International	Diluted EPS attributable to Mondelēz International
Reported (GAAP)	$ 713	$ (31)	$ 85	$ 659	$ 341	51.7 %	$ (121)	$ (106)	$ 1	$ 544	$ 0.38
Simplify to Grow Program	76	(4)	-	80	20	-	-	-	60	0.04
Intangible asset impairment charges	90	-	-	90	21	-	-	-	69	0.05
Mark-to-market (gains)/losses from derivatives	2	-	-	2	-	-	-	-	2	-
Acquisition integration costs	2	-	-	2	-	-	-	-	2	-
Acquisition-related costs	10	-	-	10	2	-	-	-	8	0.01
Divestiture-related costs	(2)	-	-	(2)	-	-	-	-	(2)	-
Net earnings from divestitures	-	-	-	-	(1)	-	16	-	(15)	(0.01)
Costs associated with JDE Peet's transaction	48	-	-	48	(261)	-	-	-	309	0.21
Remeasurement of net monetary position	3	-	-	3	-	-	-	-	3	-
Impact from pension participation changes	-	-	(3)	3	-	-	-	-	3	-
Gain on equity method investment transactions	-	-	-	-	-	121	-	-	(121)	(0.08)
Equity method investee items	-	-	-	-	4	-	(23)	-	19	0.01
Adjusted (Non-GAAP)	$ 942	$ (35)	$ 82	$ 895	$ 126	14.1 %	$ -	$ (113)	$ 1	$ 881	$ 0.61
Diluted Average Shares Outstanding	1,439
(1) Taxes were computed for each of the items excluded from the company's GAAP results based on the facts and tax assumptions associated with each item.

Schedule 1

Schedule 1

Schedule 1

Schedule 1

Schedule 6b Cons IS

Schedule 6b
Mondelēz International, Inc. and Subsidiaries
Reconciliation of GAAP to Non-GAAP Measures
Net Earnings and Tax Rate
(in millions of U.S. dollars and shares, except per share data)
(Unaudited)
For the Six Months Ended June 30, 2021
Operating Income	Benefit plan non-service expense / (income)	Interest and other expense, net	Earnings before income taxes	Income taxes (1)	Effective tax rate	Gain on equity method investment transactions	Equity method investment net losses / (earnings)	Non-controlling interest earnings	Net Earnings attributable to Mondelēz International	Diluted EPS attributable to Mondelēz International
Reported (GAAP)	$ 2,155	$ (98)	$ 276	$ 1,977	$ 610	30.9 %	$ (495)	$ (185)	$ 8	$ 2,039	$ 1.44
Simplify to Grow Program	254	(1)	-	255	66	-	-	-	189	0.13
Intangible asset impairment charges	32	-	-	32	8	-	-	-	24	0.02
Mark-to-market (gains)/losses from derivatives	(138)	-	(4)	(134)	(18)	-	-	-	(116)	(0.08)
Acquisition integration costs	3	-	-	3	1	-	-	-	2	-
Acquisition-related costs	24	-	-	24	4	-	-	-	20	0.01
Gain on acquisition	(9)	-	-	(9)	(2)	-	-	-	(7)	-
Remeasurement of net monetary position	8	-	-	8	-	-	-	-	8	-
Impact from pension participation changes	45	14	(6)	37	8	-	-	-	29	0.02
Impact from resolution of tax matters	(5)	-	2	(7)	(1)	-	-	-	(6)	-
Loss on debt extinguishment and related expenses	-	-	(137)	137	34	-	-	-	103	0.07
Initial impacts from enacted tax law changes	-	-	-	-	(99)	-	-	-	99	0.07
Gain on equity method investment transactions	-	-	-	-	(125)	495	-	-	(370)	(0.26)
Equity method investee items	-	-	-	-	4	-	(67)	-	63	0.04
Adjusted (Non-GAAP)	$ 2,369	$ (85)	$ 131	$ 2,323	$ 490	21.1 %	$ -	$ (252)	$ 8	$ 2,077	$ 1.46
Currency	(109)	(0.07)
Adjusted @ Constant FX (Non-GAAP)	$ 1,968	$ 1.39
Diluted Average Shares Outstanding	1,419
For the Six Months Ended June 30, 2020
Operating Income	Benefit plan non-service expense / (income)	Interest and other expense, net	Earnings before income taxes	Income taxes (1)	Effective tax rate	Gain on equity method investment transactions	Equity method investment net losses / (earnings)	Non-controlling interest earnings	Net Earnings attributable to Mondelēz International	Diluted EPS attributable to Mondelēz International
Reported (GAAP)	$ 1,569	$ (64)	$ 275	$ 1,358	$ 489	36.0 %	$ (192)	$ (227)	$ 8	$ 1,280	$ 0.89
Simplify to Grow Program	134	(4)	-	138	33	-	-	-	105	0.07
Intangible asset impairment charges	90	-	-	90	21	-	-	-	69	0.05
Mark-to-market (gains)/losses from derivatives	187	-	1	186	32	-	-	-	154	0.11
Acquisition integration costs	2	-	-	2	-	-	-	-	2	-
Acquisition-related costs	15	-	-	15	3	-	-	-	12	0.01
Divestiture-related costs	(2)	-	-	(2)	-	-	-	-	(2)	-
Net earnings from divestitures	-	-	-	-	(6)	-	44	-	(38)	(0.02)
Costs associated with JDE Peet's transaction	48	-	-	48	(261)	-	-	-	309	0.21
Remeasurement of net monetary position	5	-	-	5	-	-	-	-	5	-
Impact from pension participation changes	-	-	(6)	6	1	-	-	-	5	-
Loss related to interest rate swaps	-	-	(103)	103	24	-	-	-	79	0.06
Gain on equity method investment transactions	-	-	-	-	(17)	192	-	-	(175)	(0.12)
Equity method investee items	-	-	-	-	5	-	(39)	-	34	0.02
Adjusted (Non-GAAP)	$ 2,048	$ (68)	$ 167	$ 1,949	$ 324	16.6 %	$ -	$ (222)	$ 8	$ 1,839	$ 1.28
Diluted Average Shares Outstanding	1,442
(1) Taxes were computed for each of the items excluded from the company's GAAP results based on the facts and tax assumptions associated with each item.

Schedule 1

Schedule 1

Schedule 1

Schedule 1

Schedule 7a EPS

Schedule 7a
Mondelēz International, Inc. and Subsidiaries
Reconciliation of GAAP to Non-GAAP Measures
Diluted EPS
(Unaudited)
For the Three Months Ended June 30,
2021	2020	$ Change	% Change
Diluted EPS attributable to Mondelēz International (GAAP)	$ 0.76	$ 0.38	$ 0.38	100.0 %
Simplify to Grow Program	0.07	0.04	0.03
Intangible asset impairment charges	0.02	0.05	(0.03)
Mark-to-market (gains)/losses from derivatives	(0.02)	-	(0.02)
Acquisition-related costs	0.01	0.01	-
Net earnings from divestitures	-	(0.01)	0.01
Costs associated with JDE Peet's transaction	-	0.21	(0.21)
Impact from pension participation changes	0.02	-	0.02
Initial impacts from enacted tax law changes	0.07	-	0.07
Gain on equity method investment transactions	(0.27)	(0.08)	(0.19)
Equity method investee items	-	0.01	(0.01)
Adjusted EPS (Non-GAAP)	$ 0.66	$ 0.61	$ 0.05	8.2 %
Impact of favorable currency	(0.04)	-	(0.04)
Adjusted EPS @ Constant FX (Non-GAAP)	$ 0.62	$ 0.61	$ 0.01	1.6 %
Adjusted EPS @ Constant FX - Key Drivers
Increase in operations	$ 0.04
Change in benefit plan non-service income	-
Change in interest and other expense, net	0.01
Change in equity method investment net earnings	-
Change in income taxes	(0.05)
Change in shares outstanding	0.01
$ 0.01

Schedule 7b EPS

Schedule 7b
Mondelēz International, Inc. and Subsidiaries
Reconciliation of GAAP to Non-GAAP Measures
Diluted EPS
(Unaudited)
For the Six Months Ended June 30,
2021	2020	$ Change	% Change
Diluted EPS attributable to Mondelēz International (GAAP)	$ 1.44	$ 0.89	$ 0.55	61.8 %
Simplify to Grow Program	0.13	0.07	0.06
Intangible asset impairment charges	0.02	0.05	(0.03)
Mark-to-market (gains)/losses from derivatives	(0.08)	0.11	(0.19)
Acquisition-related costs	0.01	0.01	-
Net earnings from divestitures	-	(0.02)	0.02
Costs associated with JDE Peet's transaction	-	0.21	(0.21)
Impact from pension participation changes	0.02	-	0.02
Loss related to interest rate swaps	-	0.06	(0.06)
Loss on debt extinguishment and related expenses	0.07	-	0.07
Initial impacts from enacted tax law changes	0.07	-	0.07
Gain on equity method investment transactions	(0.26)	(0.12)	(0.14)
Equity method investee items	0.04	0.02	0.02
Adjusted EPS (Non-GAAP)	$ 1.46	$ 1.28	$ 0.18	14.1 %
Impact of favorable currency	(0.07)	-	(0.07)
Adjusted EPS @ Constant FX (Non-GAAP)	$ 1.39	$ 1.28	$ 0.11	8.6 %
Adjusted EPS @ Constant FX - Key Drivers
Increase in operations	$ 0.11
Change in benefit plan non-service income	0.01
Change in interest and other expense, net	0.02
Change in equity method investment net earnings	0.01
Change in income taxes	(0.06)
Change in shares outstanding	0.02
$ 0.11

Schedule 8a Seg OI

Schedule 8a
Mondelēz International, Inc. and Subsidiaries
Reconciliation of GAAP to Non-GAAP Measures
Segment Data
(in millions of U.S. dollars)
(Unaudited)
For the Three Months Ended June 30, 2021
Latin America	AMEA	Europe	North America	Unrealized G/(L) on Hedging Activities	General Corporate Expenses	Amortization of Intangibles	Other Items	Mondelēz International
Net Revenue
Reported (GAAP)	$ 669	$ 1,452	$ 2,474	$ 2,047	$ -	$ -	$ -	$ -	$ 6,642
Divestitures	-	-	-	-	-	-	-	-	-
Adjusted (Non-GAAP)	$ 669	$ 1,452	$ 2,474	$ 2,047	$ -	$ -	$ -	$ -	$ 6,642
Operating Income
Reported (GAAP)	$ 54	$ 213	$ 413	$ 299	$ 20	$ (78)	$ (32)	$ (17)	$ 872
Simplify to Grow Program	4	5	10	109	-	4	-	-	132
Intangible asset impairment charges	-	-	-	32	-	-	-	-	32
Mark-to-market (gains)/losses from derivatives	-	-	-	-	(20)	-	-	-	(20)
Acquisition integration costs	-	-	-	1	-	1	-	-	2
Acquisition-related costs	-	-	-	-	-	-	-	17	17
Remeasurement of net monetary position	3	-	-	-	-	-	-	-	3
Impact from pension participation changes	-	-	44	-	-	-	-	-	44
Impact from resolution of tax matters	(5)	-	-	-	-	-	-	-	(5)
Adjusted (Non-GAAP)	$ 56	$ 218	$ 467	$ 441	$ -	$ (73)	$ (32)	$ -	$ 1,077
Currency	1	(23)	(45)	(5)	-	4	1	-	(67)
Adjusted @ Constant FX (Non-GAAP)	$ 57	$ 195	$ 422	$ 436	$ -	$ (69)	$ (31)	$ -	$ 1,010
% Change - Reported (GAAP)	1000.0%	24.6%	39.1%	(29.5)%	n/m	29.7%	36.0%	n/m	22.3%
% Change - Adjusted (Non-GAAP)	366.7%	19.8%	27.2%	(6.2)%	n/m	(87.2)%	36.0%	n/m	14.3%
% Change - Adjusted @ Constant FX (Non-GAAP)	375.0%	7.1%	15.0%	(7.2)%	n/m	(76.9)%	38.0%	n/m	7.2%
Operating Income Margin
Reported %	8.1%	14.7%	16.7%	14.6%	13.1%
Reported pp change	9.3 pp	0.9 pp	2.8 pp	(6.3)pp	1.0 pp
Adjusted %	8.4%	15.0%	18.9%	21.5%	16.2%
Adjusted pp change	6.1 pp	0.3 pp	1.7 pp	(1.7)pp	0.3 pp
For the Three Months Ended June 30, 2020
Latin America	AMEA	Europe	North America	Unrealized G/(L) on Hedging Activities	General Corporate Expenses	Amortization of Intangibles	Other Items	Mondelēz International
Net Revenue
Reported (GAAP)	$ 511	$ 1,237	$ 2,138	$ 2,025	$ -	$ -	$ -	$ -	$ 5,911
Divestitures	-	-	-	-	-	-	-	-	-
Adjusted (Non-GAAP)	$ 511	$ 1,237	$ 2,138	$ 2,025	$ -	$ -	$ -	$ -	$ 5,911
Operating Income
Reported (GAAP)	$ (6)	$ 171	$ 297	$ 424	$ (2)	$ (111)	$ (50)	$ (10)	$ 713
Simplify to Grow Program	15	8	20	9	-	24	-	-	76
Intangible asset impairment charges	-	5	50	36	-	(1)	-	-	90
Mark-to-market (gains)/losses from derivatives	-	-	-	-	2	-	-	-	2
Acquisition integration costs	-	-	-	1	-	1	-	-	2
Acquisition-related costs	-	-	-	-	-	-	-	10	10
Divestiture-related costs	-	(2)	-	-	-	-	-	-	(2)
Costs associated with JDE Peet's transaction	-	-	-	-	-	48	-	-	48
Remeasurement of net monetary position	3	-	-	-	-	-	-	-	3
Adjusted (Non-GAAP)	$ 12	$ 182	$ 367	$ 470	$ -	$ (39)	$ (50)	$ -	$ 942
Operating Income Margin
Reported %	(1.2)%	13.8%	13.9%	20.9%	12.1%
Adjusted %	2.3%	14.7%	17.2%	23.2%	15.9%

Schedule 8b Seg OI

Schedule 8b
Mondelēz International, Inc. and Subsidiaries
Reconciliation of GAAP to Non-GAAP Measures
Segment Data
(in millions of U.S. dollars)
(Unaudited)
For the Six Months Ended June 30, 2021
Latin America	AMEA	Europe	North America	Unrealized G/(L) on Hedging Activities	General Corporate Expenses	Amortization of Intangibles	Other Items	Mondelēz International
Net Revenue
Reported (GAAP)	$ 1,338	$ 3,197	$ 5,321	$ 4,024	$ -	$ -	$ -	$ -	$ 13,880
Divestitures	-	-	-	-	-	-	-	-	-
Adjusted (Non-GAAP)	$ 1,338	$ 3,197	$ 5,321	$ 4,024	$ -	$ -	$ -	$ -	$ 13,880
Operating Income
Reported (GAAP)	$ 130	$ 575	$ 970	$ 569	$ 138	$ (142)	$ (70)	$ (15)	$ 2,155
Simplify to Grow Program	10	(14)	26	220	-	12	-	-	254
Intangible asset impairment charges	-	-	-	32	-	-	-	-	32
Mark-to-market (gains)/losses from derivatives	-	-	-	-	(138)	-	-	-	(138)
Acquisition integration costs	-	-	-	2	-	1	-	-	3
Acquisition-related costs	-	-	-	-	-	-	-	24	24
Gain on acquisition	-	-	-	-	-	-	-	(9)	(9)
Remeasurement of net monetary position	8	-	-	-	-	-	-	-	8
Impact from pension participation changes	-	-	45	-	-	-	-	-	45
Impact from resolution of tax matters	(5)	-	-	-	-	-	-	-	(5)
Adjusted (Non-GAAP)	$ 143	$ 561	$ 1,041	$ 823	$ -	$ (129)	$ (70)	$ -	$ 2,369
Currency	14	(43)	(88)	(7)	-	10	3	-	(111)
Adjusted @ Constant FX (Non-GAAP)	$ 157	$ 518	$ 953	$ 816	$ -	$ (119)	$ (67)	$ -	$ 2,258
% Change - Reported (GAAP)	80.6%	42.0%	26.1%	(29.3)%	n/m	24.1%	24.7%	n/m	37.3%
% Change - Adjusted (Non-GAAP)	38.8%	34.2%	21.6%	(4.7)%	n/m	(29.0)%	24.7%	n/m	15.7%
% Change - Adjusted @ Constant FX (Non-GAAP)	52.4%	23.9%	11.3%	(5.6)%	n/m	(19.0)%	28.0%	n/m	10.3%
Operating Income Margin
Reported %	9.7%	18.0%	18.2%	14.1%	15.5%
Reported pp change	3.9 pp	3.2 pp	1.9 pp	(6.4)pp	3.1 pp
Adjusted %	10.7%	17.5%	19.6%	20.5%	17.1%
Adjusted pp change	2.4 pp	2.2 pp	1.5 pp	(1.5)pp	0.9 pp
For the Six Months Ended June 30, 2020
Latin America	AMEA	Europe	North America	Unrealized G/(L) on Hedging Activities	General Corporate Expenses	Amortization of Intangibles	Other Items	Mondelēz International
Net Revenue
Reported (GAAP)	$ 1,237	$ 2,739	$ 4,722	$ 3,920	$ -	$ -	$ -	$ -	$ 12,618
Divestitures	-	-	-	-	-	-	-	-	-
Adjusted (Non-GAAP)	$ 1,237	$ 2,739	$ 4,722	$ 3,920	$ -	$ -	$ -	$ -	$ 12,618
Operating Income
Reported (GAAP)	$ 72	$ 405	$ 769	$ 805	$ (187)	$ (187)	$ (93)	$ (15)	$ 1,569
Simplify to Grow Program	26	10	37	21	-	40	-	-	134
Intangible asset impairment charges	-	5	50	36	-	(1)	-	-	90
Mark-to-market (gains)/losses from derivatives	-	-	-	-	187	-	-	-	187
Acquisition integration costs	-	-	-	2	-	-	-	-	2
Acquisition-related costs	-	-	-	-	-	-	-	15	15
Divestiture-related costs	-	(2)	-	-	-	-	-	-	(2)
Costs associated with JDE Peet's transaction	-	-	-	-	-	48	-	-	48
Remeasurement of net monetary position	5	-	-	-	-	-	-	-	5
Adjusted (Non-GAAP)	$ 103	$ 418	$ 856	$ 864	$ -	$ (100)	$ (93)	$ -	$ 2,048
Operating Income Margin
Reported %	5.8%	14.8%	16.3%	20.5%	12.4%
Adjusted %	8.3%	15.3%	18.1%	22.0%	16.2%

Schedule 9 FCF

Schedule 9
Mondelēz International, Inc. and Subsidiaries
Reconciliation of GAAP to Non-GAAP Measures
Net Cash Provided by Operating Activities to Free Cash Flow
(in millions of U.S. dollars)
(Unaudited)
For the Six Months Ended June 30,
2021	2020	$ Change
Net Cash Provided by Operating Activities (GAAP)	$ 1,792	$ 1,558	$ 234
Capital Expenditures	(410)	(445)	35
Free Cash Flow (Non-GAAP)	$ 1,382	$ 1,113	$ 269

WC - Q221-Q220 Org Rev

GAAP to Non-GAAP Reconciliation
Net Revenues to Organic Net Revenue
(in millions of U.S. dollars) (Unaudited)
Latin America	AMEA	Europe	North America	Mondelēz International
For the Three Months Ended June 30, 2021
Reported (GAAP)	$ 669	$ 1,452	$ 2,474	$ 2,047	$ 6,642
Acquisitions	-	(23)	(21)	(8)	(52)
Currency	14	(106)	(199)	(20)	(311)
Organic (Non-GAAP)	$ 683	$ 1,323	$ 2,254	$ 2,019	$ 6,279
For the Three Months Ended June 30, 2020
Reported (GAAP)	$ 511	$ 1,237	$ 2,138	$ 2,025	$ 5,911
Divestitures	-	-	-	-	-
Organic (Non-GAAP)	$ 511	$ 1,237	$ 2,138	$ 2,025	$ 5,911
% Change
Reported (GAAP)	30.9%	17.4%	15.7%	1.1%	12.4%
Divestitures	- pp	- pp	- pp	- pp	- pp
Acquisitions	-	(1.8)	(1.0)	(0.4)	(0.9)
Currency	2.8	(8.6)	(9.3)	(1.0)	(5.3)
Organic (Non-GAAP)	33.7%	7.0%	5.4%	(0.3)%	6.2%
Vol/Mix	18.8 pp	5.1 pp	4.2 pp	(0.5)pp	4.0 pp
Pricing	14.9	1.9	1.2	0.2	2.2
Latin America	AMEA	Europe	North America	Mondelēz International
For the Three Months Ended June 30, 2020
Reported (GAAP)	$ 511	$ 1,237	$ 2,138	$ 2,025	$ 5,911
Acquisitions	-	-	-	(114)	(114)
Currency	143	52	83	5	283
Organic (Non-GAAP)	$ 654	$ 1,289	$ 2,221	$ 1,916	$ 6,080
For the Three Months Ended June 30, 2019
Reported (GAAP)	$ 737	$ 1,352	$ 2,247	$ 1,726	$ 6,062
Divestitures	-	(22)	-	-	(22)
Organic (Non-GAAP)	$ 737	$ 1,330	$ 2,247	$ 1,726	$ 6,040
% Change
Reported (GAAP)	(30.7)%	(8.5)%	(4.9)%	17.3%	(2.5)%
Divestitures	- pp	1.5 pp	- pp	- pp	0.4 pp
Acquisitions	-	-	-	(6.6)	(1.8)
Currency	19.4	3.9	3.7	0.3	4.6
Organic (Non-GAAP)	(11.3)%	(3.1)%	(1.2)%	11.0%	0.7%
Vol/Mix	(18.8)pp	(4.6)pp	(0.4)pp	7.4 pp	(1.3)pp
Pricing	7.5	1.5	(0.8)	3.6	2.0
2 Year CAGR
Reported (GAAP)	(4.8)%	3.6%	4.9%	8.9%	4.7%
Organic (Non-GAAP)	8.9%	1.8%	2.0%	5.2%	3.4%

WC - H121-H120 Org Rev

GAAP to Non-GAAP Reconciliation
Net Revenues to Organic Net Revenue
(in millions of U.S. dollars) (Unaudited)
Latin America	AMEA	Europe	North America	Mondelēz International
For the Six Months Ended June 30, 2021
Reported (GAAP)	$ 1,338	$ 3,197	$ 5,321	$ 4,024	$ 13,880
Acquisitions	-	(23)	(21)	(122)	(166)
Currency	123	(187)	(376)	(31)	(471)
Organic (Non-GAAP)	$ 1,461	$ 2,987	$ 4,924	$ 3,871	$ 13,243
For the Six Months Ended June 30, 2020
Reported (GAAP)	$ 1,237	$ 2,739	$ 4,722	$ 3,920	$ 12,618
Divestitures	-	-	-	-	-
Organic (Non-GAAP)	$ 1,237	$ 2,739	$ 4,722	$ 3,920	$ 12,618
% Change
Reported (GAAP)	8.2%	16.7%	12.7%	2.7%	10.0%
Divestitures	- pp	- pp	- pp	- pp	- pp
Acquisitions	-	(0.8)	(0.4)	(3.2)	(1.3)
Currency	9.9	(6.8)	(8.0)	(0.8)	(3.7)
Organic (Non-GAAP)	18.1%	9.1%	4.3%	(1.3)%	5.0%
Vol/Mix	6.0 pp	6.7 pp	3.2 pp	(1.7)pp	2.8 pp
Pricing	12.1	2.4	1.1	0.4	2.2
Latin America	AMEA	Europe	North America	Mondelēz International
For the Six Months Ended June 30, 2020
Reported (GAAP)	$ 1,237	$ 2,739	$ 4,722	$ 3,920	$ 12,618
Acquisitions	-	-	-	(146)	(146)
Currency	273	91	160	8	532
Organic (Non-GAAP)	$ 1,510	$ 2,830	$ 4,882	$ 3,782	$ 13,004
For the Six Months Ended June 30, 2019
Reported (GAAP)	$ 1,537	$ 2,893	$ 4,798	$ 3,372	$ 12,600
Divestitures	-	(55)	-	-	(55)
Organic (Non-GAAP)	$ 1,537	$ 2,838	$ 4,798	$ 3,372	$ 12,545
% Change
Reported (GAAP)	(19.5)%	(5.3)%	(1.6)%	16.3%	0.1%
Divestitures	- pp	1.8 pp	- pp	- pp	0.5 pp
Acquisitions	-	-	-	(4.3)	(1.1)
Currency	17.7	3.2	3.4	0.2	4.2
Organic (Non-GAAP)	(1.8)%	(0.3)%	1.8%	12.2%	3.7%
Vol/Mix	(10.0)pp	(1.7)pp	2.0 pp	9.8 pp	1.8 pp
Pricing	8.2	1.4	(0.2)	2.4	1.9
2 Year CAGR
Reported (GAAP)	(6.7)%	5.1%	5.3%	9.3%	4.9%
Organic (Non-GAAP)	7.7%	4.3%	3.0%	5.2%	4.3%

WC - Q221 GP_OI

GAAP to Non-GAAP Reconciliation
Gross Profit/Operating Income To Adjusted Gross Profit/Operating Income
(in millions of U.S. dollars) (Unaudited)
For the Three Months Ended June 30, 2021
Net Revenues	Gross Profit	Gross Profit Margin	Operating Income	Operating Income Margin
Reported (GAAP)	$ 6,642	$ 2,631	39.6%	$ 872	13.1%
Simplify to Grow Program	-	20	132
Intangible asset impairment charges	-	-	32
Mark-to-market (gains)/losses from derivatives	-	(21)	(20)
Acquisition integration costs	-	1	2
Acquisition-related costs	-	-	17
Remeasurement of net monetary position	-	-	3
Impact from pension participation changes	-	18	44
Impact from resolution of tax matters	-	-	(5)
Adjusted (Non-GAAP)	$ 6,642	$ 2,649	39.9%	$ 1,077	16.2%
Currency	(134)	(67)
Adjusted @ Constant FX (Non-GAAP)	$ 2,515	$ 1,010
For the Three Months Ended June 30, 2020
Net Revenues	Gross Profit	Gross Profit Margin	Operating Income	Operating Income Margin
Reported (GAAP)	$ 5,911	$ 2,331	39.4%	$ 713	12.1%
Simplify to Grow Program	-	15	76
Intangible asset impairment charges	-	-	90
Mark-to-market (gains)/losses from derivatives	-	1	2
Acquisition integration costs	-	-	2
Acquisition-related costs	-	-	10
Divestiture-related costs	-	(1)	(2)
Costs associated with JDE Peet's transaction	-	-	48
Remeasurement of net monetary position	-	-	3
Rounding	-	1	-
Adjusted (Non-GAAP)	$ 5,911	$ 2,347	39.7%	$ 942	15.9%
Gross Profit	Operating Income
$ Change - Reported (GAAP)	$ 300	$ 159
$ Change - Adjusted (Non-GAAP)	302	135
$ Change - Adjusted @ Constant FX (Non-GAAP)	168	68
% Change - Reported (GAAP)	12.9%	22.3%
% Change - Adjusted (Non-GAAP)	12.9%	14.3%
% Change - Adjusted @ Constant FX (Non-GAAP)	7.2%	7.2%

WC - H121 GP_OI

GAAP to Non-GAAP Reconciliation
Gross Profit/Operating Income To Adjusted Gross Profit/Operating Income
(in millions of U.S. dollars) (Unaudited)
For the Six Months Ended June 30, 2021
Net Revenues	Gross Profit	Gross Profit Margin	Operating Income	Operating Income Margin
Reported (GAAP)	$ 13,880	$ 5,597	40.3%	$ 2,155	15.5%
Simplify to Grow Program	-	35	254
Intangible asset impairment charges	-	-	32
Mark-to-market (gains)/losses from derivatives	-	(137)	(138)
Acquisition integration costs	-	1	3
Acquisition-related costs	-	-	24
Gain on acquisition	-	-	(9)
Remeasurement of net monetary position	-	-	8
Impact from pension participation changes	-	19	45
Impact from resolution of tax matters	-	-	(5)
Adjusted (Non-GAAP)	$ 13,880	$ 5,515	39.7%	$ 2,369	17.1%
Currency	(210)	(111)
Adjusted @ Constant FX (Non-GAAP)	$ 5,305	$ 2,258
For the Six Months Ended June 30, 2020
Net Revenues	Gross Profit	Gross Profit Margin	Operating Income	Operating Income Margin
Reported (GAAP)	$ 12,618	$ 4,782	37.9%	$ 1,569	12.4%
Simplify to Grow Program	-	34	134
Intangible asset impairment charges	-	-	90
Mark-to-market (gains)/losses from derivatives	-	187	187
Acquisition integration costs	-	-	2
Acquisition-related costs	-	-	15
Divestiture-related costs	-	(1)	(2)
Costs associated with JDE Peet's transaction	-	-	48
Remeasurement of net monetary position	-	-	5
Rounding	-	1	-
Adjusted (Non-GAAP)	$ 12,618	$ 5,003	39.6%	$ 2,048	16.2%
Gross Profit	Operating Income
$ Change - Reported (GAAP)	$ 815	$ 586
$ Change - Adjusted (Non-GAAP)	512	321
$ Change - Adjusted @ Constant FX (Non-GAAP)	302	210
% Change - Reported (GAAP)	17.0%	37.3%
% Change - Adjusted (Non-GAAP)	10.2%	15.7%
% Change - Adjusted @ Constant FX (Non-GAAP)	6.0%	10.3%

WC - FY17-FY15 MDLZ Org Rev

GAAP to Non-GAAP Reconciliation
Net Revenues to Organic Net Revenue
(in millions of U.S. dollars) (Unaudited)
Mondelēz International
For the Twelve Months Ended December 31,	2016	2017	2 Year CAGR
Reported (GAAP)	$ 25,923	$ 25,896
Divestitures	(814)	(402)
Acquisitions	(92)	(59)
Currency	1,233	(77)
Organic (Non-GAAP)	$ 26,250	$ 25,358
For the Twelve Months Ended December 31,	2015	2016
Reported (GAAP)	$ 29,636	$ 25,923
Divestitures	(880)	(814)
Historical Venezuelan operations	(1,217)	-
Historical coffee business	(1,627)	-
Accounting calendar change	(76)	-
Organic (Non-GAAP)	$ 25,836	$ 25,109
% Change
Reported (GAAP)	(12.5)%	(0.1)%	(6.5)%
Organic (Non-GAAP)	1.6%	1.0%	1.3%

WC - Q221-Q418 MDLZ Org Rev

GAAP to Non-GAAP Reconciliation
Net Revenues to Organic Net Revenue
(in millions of U.S. dollars) (Unaudited)
Mondelēz International
For the Three Months Ended	December 31, 2018	March 31, 2019	June 30, 2019	September 30, 2019	December 31, 2019	March 31, 2020	June 30, 2020	September 30, 2020	December 31, 2020	March 31, 2021	June 30, 2021	Average Growth Rate
Reported (GAAP)	$ 6,773	$ 6,538	$ 6,062	$ 6,355	$ 6,913	$ 6,707	$ 5,911	$ 6,665	$ 7,298	$ 7,238	$ 6,642
Divestitures	(34)	(33)	(22)	-	-	-	-	-	-	-	-
Acquisitions	(22)	(20)	(15)	(26)	(27)	(32)	(114)	(125)	(174)	(114)	(52)
Currency	383	498	333	196	127	249	283	92	13	(160)	(311)
Organic (Non-GAAP)	$ 7,100	$ 6,983	$ 6,358	$ 6,525	$ 7,013	$ 6,924	$ 6,080	$ 6,632	$ 7,137	$ 6,964	$ 6,279
For the Three Months Ended	December 31, 2017	March 31, 2018	June 30, 2018	September 30, 2018	December 31, 2018	March 31, 2019	June 30, 2019	September 30, 2019	December 31, 2019	March 31, 2020	June 30, 2020
Reported (GAAP)	$ 6,966	$ 6,765	$ 6,112	$ 6,288	$ 6,773	$ 6,538	$ 6,062	$ 6,355	$ 6,913	$ 6,707	$ 5,911
Divestitures	(39)	(31)	(32)	(29)	(34)	(33)	(22)	-	-	-	-
Organic (Non-GAAP)	$ 6,927	$ 6,734	$ 6,080	$ 6,259	$ 6,739	$ 6,505	$ 6,040	$ 6,355	$ 6,913	$ 6,707	$ 5,911
% Change
Reported (GAAP)	(2.8)%	(3.4)%	(0.8)%	1.1%	2.1%	2.6%	(2.5)%	4.9%	5.6%	7.9%	12.4%	2.5%
Organic (Non-GAAP)	2.5%	3.7%	4.6%	4.2%	4.1%	6.4%	0.7%	4.4%	3.2%	3.8%	6.2%	4.0%

WC - FY20-FY19 Mkt Org Rev

GAAP to Non-GAAP Reconciliation
Net Revenues to Organic Net Revenue
(in millions of U.S. dollars) (Unaudited)
Mondelēz International	Emerging Markets	Developed Markets
For the Twelve Months Ended December 31,	2019	2020	2019	2020	2019	2020
Reported (GAAP)	$ 25,868	$ 26,581	$ 9,675	$ 9,097	$ 16,193	$ 17,484
Divestitures	(55)	-	(55)	-	-	-
Acquisitions	(88)	(445)	-	-	(88)	(445)
Currency	1,154	637	651	749	503	(112)
Organic (Non-GAAP)	$ 26,879	$ 26,773	$ 10,271	$ 9,846	$ 16,608	$ 16,927
For the Twelve Months Ended December 31,	2018	2019	2018	2019	2018	2019
Reported (GAAP)	$ 25,938	$ 25,868	$ 9,659	$ 9,675	$ 16,279	$ 16,193
Divestitures	(126)	(55)	(126)	(55)	-	-
Organic (Non-GAAP)	$ 25,812	$ 25,813	$ 9,533	$ 9,620	$ 16,279	$ 16,193
% Change
Reported (GAAP)	(0.3)%	2.8%	0.2%	(6.0)%	(0.5)%	8.0%
Organic (Non-GAAP)	4.1%	3.7%	7.7%	2.3%	2.0%	4.5%

WC - Q221-Q220 Mkt Org Rev

GAAP to Non-GAAP Reconciliation
Net Revenues to Organic Net Revenue
(in millions of U.S. dollars) (Unaudited)
Emerging Markets	Developed Markets	Mondelēz International
For the Three Months Ended June 30, 2021
Reported (GAAP)	$ 2,293	$ 4,349	$ 6,642
Acquisitions	-	(52)	(52)
Currency	(60)	(251)	(311)
Organic (Non-GAAP)	$ 2,233	$ 4,046	$ 6,279
For the Three Months Ended June 30, 2020
Reported (GAAP)	$ 1,917	$ 3,994	$ 5,911
Divestitures	-	-	-
Organic (Non-GAAP)	$ 1,917	$ 3,994	$ 5,911
% Change
Reported (GAAP)	19.6%	8.9%	12.4%
Divestitures	- pp	- pp	- pp
Acquisitions	-	(1.3)	(0.9)
Currency	(3.1)	(6.3)	(5.3)
Organic (Non-GAAP)	16.5%	1.3%	6.2%
Vol/Mix	10.6 pp	0.9 pp	4.0 pp
Pricing	5.9	0.4	2.2
Emerging Markets	Developed Markets	Mondelēz International
For the Three Months Ended June 30, 2020
Reported (GAAP)	$ 1,917	$ 3,994	$ 5,911
Acquisitions	-	(114)	(114)
Currency	218	65	283
Organic (Non-GAAP)	$ 2,135	$ 3,945	$ 6,080
For the Three Months Ended June 30, 2019
Reported (GAAP)	$ 2,272	$ 3,790	$ 6,062
Divestitures	(22)	-	(22)
Organic (Non-GAAP)	$ 2,250	$ 3,790	$ 6,040
% Change
Reported (GAAP)	(15.6)%	5.4%	(2.5)%
Divestitures	0.8 pp	- pp	0.4 pp
Acquisitions	-	(3.0)	(1.8)
Currency	9.7	1.7	4.6
Organic (Non-GAAP)	(5.1)%	4.1%	0.7%
Vol/Mix	(7.8)pp	2.5 pp	(1.3)pp
Pricing	2.7	1.6	2.0
2 Year CAGR
Reported (GAAP)	0.5%	7.1%	4.7%
Organic (Non-GAAP)	5.1%	2.7%	3.4%

WC - H121-H120 Mkt Org Rev

GAAP to Non-GAAP Reconciliation
Net Revenues to Organic Net Revenue
(in millions of U.S. dollars) (Unaudited)
Emerging Markets	Developed Markets	Mondelēz International
For the Six Months Ended June 30, 2021
Reported (GAAP)	$ 4,856	$ 9,024	$ 13,880
Acquisitions	-	(166)	(166)
Currency	34	(505)	(471)
Organic (Non-GAAP)	$ 4,890	$ 8,353	$ 13,243
For the Six Months Ended June 30, 2020
Reported (GAAP)	$ 4,334	$ 8,284	$ 12,618
Divestitures	-	-	-
Organic (Non-GAAP)	$ 4,334	$ 8,284	$ 12,618
% Change
Reported (GAAP)	12.0%	8.9%	10.0%
Divestitures	- pp	- pp	- pp
Acquisitions	-	(2.0)	(1.3)
Currency	0.8	(6.1)	(3.7)
Organic (Non-GAAP)	12.8%	0.8%	5.0%
Vol/Mix	7.3 pp	0.3 pp	2.8 pp
Pricing	5.5	0.5	2.2
Emerging Markets	Developed Markets	Mondelēz International
For the Six Months Ended June 30, 2020
Reported (GAAP)	$ 4,334	$ 8,284	$ 12,618
Acquisitions	-	(146)	(146)
Currency	382	150	532
Organic (Non-GAAP)	$ 4,716	$ 8,288	$ 13,004
For the Six Months Ended June 30, 2019
Reported (GAAP)	$ 4,774	$ 7,826	$ 12,600
Divestitures	(55)	-	(55)
Organic (Non-GAAP)	$ 4,719	$ 7,826	$ 12,545
% Change
Reported (GAAP)	(9.2)%	5.9%	0.1%
Divestitures	1.0 pp	- pp	0.5 pp
Acquisitions	-	(1.9)	(1.1)
Currency	8.1	1.9	4.2
Organic (Non-GAAP)	(0.1)%	5.9%	3.7%
Vol/Mix	(3.5)pp	4.9 pp	1.8 pp
Pricing	3.4	1.0	1.9
2 Year CAGR
Reported (GAAP)	0.8%	7.4%	4.9%
Organic (Non-GAAP)	6.2%	3.3%	4.3%

WC - Q221 ex Arg Org Rev

GAAP to Non-GAAP Reconciliation
Net Revenues to Organic Net Revenue
(in millions of U.S. dollars) (Unaudited)
Emerging Markets	Argentina	Emerging Markets ex. Argentina
For the Three Months Ended June 30, 2021
Reported (GAAP)	$ 2,293	$ 96	$ 2,197
Currency	(60)	38	(98)
Organic (Non-GAAP)	$ 2,233	$ 134	$ 2,099
For the Three Months Ended June 30, 2020
Reported (GAAP)	$ 1,917	$ 76	$ 1,841
Divestitures	-	-	-
Organic (Non-GAAP)	$ 1,917	$ 76	$ 1,841
% Change
Reported (GAAP)	19.6%	26.3%	19.3%
Divestitures	- pp	- pp	- pp
Currency	(3.1)	50.0	(5.3)
Organic (Non-GAAP)	16.5%	76.3%	14.0%
Latin America	Argentina	Latin America ex. Argentina
For the Three Months Ended June 30, 2021
Reported (GAAP)	$ 669	$ 96	$ 573
Currency	14	38	(24)
Organic (Non-GAAP)	$ 683	$ 134	$ 549
For the Three Months Ended June 30, 2020
Reported (GAAP)	$ 511	$ 76	$ 435
Divestitures	-	-	-
Organic (Non-GAAP)	$ 511	$ 76	$ 435
% Change
Reported (GAAP)	30.9%	26.3%	31.7%
Divestitures	- pp	- pp	- pp
Currency	2.8	50.0	(5.5)
Organic (Non-GAAP)	33.7%	76.3%	26.2%

WC - FY20-FY19 Sector Org R

GAAP to Non-GAAP Reconciliation
Net Revenues to Organic Net Revenues by Consumer Sector
(in millions of U.S. dollars) (Unaudited)
Biscuits	Chocolate	Gum & Candy	Total Snacks	Beverage	Cheese & Grocery	Mondelēz International
For the Twelve Months Ended December 31, 2020
Reported (GAAP)	$ 12,766	$ 8,179	$ 2,662	$ 23,607	$ 1,049	$ 1,925	$ 26,581
Acquisitions	(445)	-	-	(445)	-	-	(445)
Currency	131	256	102	489	124	24	637
Organic (Non-GAAP)	$ 12,452	$ 8,435	$ 2,764	$ 23,651	$ 1,173	$ 1,949	$ 26,773
For the Twelve Months Ended December 31, 2019
Reported (GAAP)	$ 11,438	$ 8,158	$ 3,355	$ 22,951	$ 1,095	$ 1,822	$ 25,868
Divestitures	-	-	-	-	-	(55)	(55)
Organic (Non-GAAP)	$ 11,438	$ 8,158	$ 3,355	$ 22,951	$ 1,095	$ 1,767	$ 25,813
% Change
Reported (GAAP)	11.6%	0.3%	(20.7)%	2.9%	(4.2)%	5.7%	2.8%
Organic (Non-GAAP)	8.9%	3.4%	(17.6)%	3.0%	7.1%	10.3%	3.7%
Biscuits	Chocolate	Gum & Candy	Total Snacks	Beverage	Cheese & Grocery	Mondelēz International
For the Twelve Months Ended December 31, 2019
Reported (GAAP)	$ 11,438	$ 8,158	$ 3,355	$ 22,951	$ 1,095	$ 1,822	$ 25,868
Divestitures	-	-	-	-	-	(55)	(55)
Acquisitions	(88)	-	-	(88)	-	-	(88)
Currency	322	495	149	966	114	74	1,154
Organic (Non-GAAP)	$ 11,672	$ 8,653	$ 3,504	$ 23,829	$ 1,209	$ 1,841	$ 26,879
For the Twelve Months Ended December 31, 2018
Reported (GAAP)	$ 11,185	$ 8,177	$ 3,491	$ 22,853	$ 1,184	$ 1,901	$ 25,938
Divestitures	-	-	-	-	-	(126)	(126)
Organic (Non-GAAP)	$ 11,185	$ 8,177	$ 3,491	$ 22,853	$ 1,184	$ 1,775	$ 25,812
% Change
Reported (GAAP)	2.3%	(0.2)%	(3.9)%	0.4%	(7.5)%	(4.2)%	(0.3)%
Organic (Non-GAAP)	4.4%	5.8%	0.4%	4.3%	2.1%	3.7%	4.1%

WC - Q221-Q220 Sector Org Rev

GAAP to Non-GAAP Reconciliation
Net Revenues to Organic Net Revenues by Consumer Sector
(in millions of U.S. dollars) (Unaudited)
Biscuits	Chocolate	Gum & Candy	Total Snacks	Beverage	Cheese & Grocery	Mondelēz International
For the Three Months Ended June 30, 2021
Reported (GAAP)	$ 3,327	$ 1,853	$ 713	$ 5,893	$ 255	$ 494	$ 6,642
Acquisitions	(28)	(7)	-	(35)	(5)	(12)	(52)
Currency	(102)	(133)	(28)	(263)	(6)	(42)	(311)
Organic (Non-GAAP)	$ 3,197	$ 1,713	$ 685	$ 5,595	$ 244	$ 440	$ 6,279
For the Three Months Ended June 30, 2020
Reported (GAAP)	$ 3,110	$ 1,520	$ 535	$ 5,165	$ 267	$ 479	$ 5,911
Divestitures	-	-	-	-	-	-	-
Organic (Non-GAAP)	$ 3,110	$ 1,520	$ 535	$ 5,165	$ 267	$ 479	$ 5,911
% Change
Reported (GAAP)	7.0%	21.9%	33.3%	14.1%	(4.5)%	3.1%	12.4%
Organic (Non-GAAP)	2.8%	12.7%	28.0%	8.3%	(8.6)%	(8.1)%	6.2%
Biscuits	Chocolate	Gum & Candy	Total Snacks	Beverage	Cheese & Grocery	Mondelēz International
For the Three Months Ended June 30, 2020
Reported (GAAP)	$ 3,110	$ 1,520	$ 535	$ 5,165	$ 267	$ 479	$ 5,911
Acquisitions	(114)	-	-	(114)	-	-	(114)
Currency	77	114	30	221	36	26	283
Organic (Non-GAAP)	$ 3,073	$ 1,634	$ 565	$ 5,272	$ 303	$ 505	$ 6,080
For the Three Months Ended June 30, 2019
Reported (GAAP)	$ 2,809	$ 1,643	$ 847	$ 5,299	$ 297	$ 466	$ 6,062
Divestitures	-	-	-	-	-	(22)	(22)
Organic (Non-GAAP)	$ 2,809	$ 1,643	$ 847	$ 5,299	$ 297	$ 444	$ 6,040
% Change
Reported (GAAP)	10.7%	(7.5)%	(36.8)%	(2.5)%	(10.1)%	2.8%	(2.5)%
Organic (Non-GAAP)	9.4%	(0.5)%	(33.3)%	(0.5)%	2.0%	13.7%	0.7%
2 Year CAGR
Reported (GAAP)	8.8%	6.2%	(8.2)%	5.5%	(7.3)%	2.9%	4.7%
Organic (Non-GAAP)	6.0%	5.9%	(7.6)%	3.8%	(3.4)%	2.2%	3.4%

WC - H121-H120 Sector Org Rev

GAAP to Non-GAAP Reconciliation
Net Revenues to Organic Net Revenues by Consumer Sector
(in millions of U.S. dollars) (Unaudited)
Biscuits	Chocolate	Gum & Candy	Total Snacks	Beverage	Cheese & Grocery	Mondelēz International
For the Six Months Ended June 30, 2021
Reported (GAAP)	$ 6,625	$ 4,330	$ 1,364	$ 12,319	$ 562	$ 999	$ 13,880
Acquisitions	(135)	(14)	-	(149)	(5)	(12)	(166)
Currency	(163)	(226)	(26)	(415)	12	(68)	(471)
Organic (Non-GAAP)	$ 6,327	$ 4,090	$ 1,338	$ 11,755	$ 569	$ 919	$ 13,243
For the Six Months Ended June 30, 2020
Reported (GAAP)	$ 6,136	$ 3,676	$ 1,316	$ 11,128	$ 565	$ 925	$ 12,618
Divestitures	-	-	-	-	-	-	-
Organic (Non-GAAP)	$ 6,136	$ 3,676	$ 1,316	$ 11,128	$ 565	$ 925	$ 12,618
% Change
Reported (GAAP)	8.0%	17.8%	3.6%	10.7%	(0.5)%	8.0%	10.0%
Organic (Non-GAAP)	3.1%	11.3%	1.7%	5.6%	0.7%	(0.6)%	5.0%
Biscuits	Chocolate	Gum & Candy	Total Snacks	Beverage	Cheese & Grocery	Mondelēz International
For the Six Months Ended June 30, 2020
Reported (GAAP)	$ 6,136	$ 3,676	$ 1,316	$ 11,128	$ 565	$ 925	$ 12,618
Acquisitions	(146)	-	-	(146)	-	-	(146)
Currency	141	222	62	425	65	42	532
Organic (Non-GAAP)	$ 6,131	$ 3,898	$ 1,378	$ 11,407	$ 630	$ 967	$ 13,004
For the Six Months Ended June 30, 2019
Reported (GAAP)	$ 5,546	$ 3,849	$ 1,660	$ 11,055	$ 618	$ 927	$ 12,600
Divestitures	-	-	-	-	-	(55)	(55)
Organic (Non-GAAP)	$ 5,546	$ 3,849	$ 1,660	$ 11,055	$ 618	$ 872	$ 12,545
% Change
Reported (GAAP)	10.6%	(4.5)%	(20.7)%	0.7%	(8.6)%	(0.2)%	0.1%
Organic (Non-GAAP)	10.5%	1.3%	(17.0)%	3.2%	1.9%	10.9%	3.7%
2 Year CAGR
Reported (GAAP)	9.3%	6.1%	(9.4)%	5.6%	(4.6)%	3.8%	4.9%
Organic (Non-GAAP)	6.7%	6.2%	(8.1)%	4.4%	1.3%	5.0%	4.3%

WC - Q221 Seg OI

GAAP to Non-GAAP Reconciliation
Segment Data
(in millions of U.S. dollars) (Unaudited)
For the Three Months Ended June 30, 2021
Latin America	AMEA	Europe	North America	Unrealized G/(L) on Hedging Activities	General Corporate Expenses	Amortization of Intangibles	Other Items	Mondelēz International
Net Revenue
Reported (GAAP)	$ 669	$ 1,452	$ 2,474	$ 2,047	$ -	$ -	$ -	$ -	$ 6,642
Divestitures	-	-	-	-	-	-	-	-	-
Adjusted (Non-GAAP)	$ 669	$ 1,452	$ 2,474	$ 2,047	$ -	$ -	$ -	$ -	$ 6,642
Operating Income
Reported (GAAP)	$ 54	$ 213	$ 413	$ 299	$ 20	$ (78)	$ (32)	$ (17)	$ 872
Simplify to Grow Program	4	5	10	109	-	4	-	-	132
Intangible asset impairment charges	-	-	-	32	-	-	-	-	32
Mark-to-market (gains)/losses from derivatives	-	-	-	-	(20)	-	-	-	(20)
Acquisition integration costs	-	-	-	1	-	1	-	-	2
Acquisition-related costs	-	-	-	-	-	-	-	17	17
Remeasurement of net monetary position	3	-	-	-	-	-	-	-	3
Impact from pension participation changes	-	-	44	-	-	-	-	-	44
Impact from resolution of tax matters	(5)	-	-	-	-	-	-	-	(5)
Adjusted (Non-GAAP)	$ 56	$ 218	$ 467	$ 441	$ -	$ (73)	$ (32)	$ -	$ 1,077
Currency	1	(23)	(45)	(5)	-	4	1	-	(67)
Adjusted @ Constant FX (Non-GAAP)	$ 57	$ 195	$ 422	$ 436	$ -	$ (69)	$ (31)	$ -	$ 1,010
% Change - Reported (GAAP)	1000.0%	24.6%	39.1%	(29.5)%	n/m	29.7%	36.0%	n/m	22.3%
% Change - Adjusted (Non-GAAP)	366.7%	19.8%	27.2%	(6.2)%	n/m	(87.2)%	36.0%	n/m	14.3%
% Change - Adjusted @ Constant FX (Non-GAAP)	375.0%	7.1%	15.0%	(7.2)%	n/m	(76.9)%	38.0%	n/m	7.2%
Operating Income Margin
Reported %	8.1%	14.7%	16.7%	14.6%	13.1%
Reported pp change	9.3 pp	0.9 pp	2.8 pp	(6.3)pp	1.0 pp
Adjusted %	8.4%	15.0%	18.9%	21.5%	16.2%
Adjusted pp change	6.1 pp	0.3 pp	1.7 pp	(1.7)pp	0.3 pp
For the Three Months Ended June 30, 2020
Latin America	AMEA	Europe	North America	Unrealized G/(L) on Hedging Activities	General Corporate Expenses	Amortization of Intangibles	Other Items	Mondelēz International
Net Revenue
Reported (GAAP)	$ 511	$ 1,237	$ 2,138	$ 2,025	$ -	$ -	$ -	$ -	$ 5,911
Divestitures	-	-	-	-	-	-	-	-	-
Adjusted (Non-GAAP)	$ 511	$ 1,237	$ 2,138	$ 2,025	$ -	$ -	$ -	$ -	$ 5,911
Operating Income
Reported (GAAP)	$ (6)	$ 171	$ 297	$ 424	$ (2)	$ (111)	$ (50)	$ (10)	$ 713
Simplify to Grow Program	15	8	20	9	-	24	-	-	76
Intangible asset impairment charges	-	5	50	36	-	(1)	-	-	90
Mark-to-market (gains)/losses from derivatives	-	-	-	-	2	-	-	-	2
Acquisition integration costs	-	-	-	1	-	1	-	-	2
Acquisition-related costs	-	-	-	-	-	-	-	10	10
Divestiture-related costs	-	(2)	-	-	-	-	-	-	(2)
Costs associated with JDE Peet's transaction	-	-	-	-	-	48	-	-	48
Remeasurement of net monetary position	3	-	-	-	-	-	-	-	3
Adjusted (Non-GAAP)	$ 12	$ 182	$ 367	$ 470	$ -	$ (39)	$ (50)	$ -	$ 942
Operating Income Margin
Reported %	(1.2)%	13.8%	13.9%	20.9%	12.1%
Adjusted %	2.3%	14.7%	17.2%	23.2%	15.9%

WC - H121 Seg OI

GAAP to Non-GAAP Reconciliation
Segment Data
(in millions of U.S. dollars) (Unaudited)
For the Six Months Ended June 30, 2021
Latin America	AMEA	Europe	North America	Unrealized G/(L) on Hedging Activities	General Corporate Expenses	Amortization of Intangibles	Other Items	Mondelēz International
Net Revenue
Reported (GAAP)	$ 1,338	$ 3,197	$ 5,321	$ 4,024	$ -	$ -	$ -	$ -	$ 13,880
Divestitures	-	-	-	-	-	-	-	-	-
Adjusted (Non-GAAP)	$ 1,338	$ 3,197	$ 5,321	$ 4,024	$ -	$ -	$ -	$ -	$ 13,880
Operating Income
Reported (GAAP)	$ 130	$ 575	$ 970	$ 569	$ 138	$ (142)	$ (70)	$ (15)	$ 2,155
Simplify to Grow Program	10	(14)	26	220	-	12	-	-	254
Intangible asset impairment charges	-	-	-	32	-	-	-	-	32
Mark-to-market (gains)/losses from derivatives	-	-	-	-	(138)	-	-	-	(138)
Acquisition integration costs	-	-	-	2	-	1	-	-	3
Acquisition-related costs	-	-	-	-	-	-	-	24	24
Gain on acquisition	-	-	-	-	-	-	-	(9)	(9)
Remeasurement of net monetary position	8	-	-	-	-	-	-	-	8
Impact from pension participation changes	-	-	45	-	-	-	-	-	45
Impact from resolution of tax matters	(5)	-	-	-	-	-	-	-	(5)
Adjusted (Non-GAAP)	$ 143	$ 561	$ 1,041	$ 823	$ -	$ (129)	$ (70)	$ -	$ 2,369
Currency	14	(43)	(88)	(7)	-	10	3	-	(111)
Adjusted @ Constant FX (Non-GAAP)	$ 157	$ 518	$ 953	$ 816	$ -	$ (119)	$ (67)	$ -	$ 2,258
% Change - Reported (GAAP)	80.6%	42.0%	26.1%	(29.3)%	n/m	24.1%	24.7%	n/m	37.3%
% Change - Adjusted (Non-GAAP)	38.8%	34.2%	21.6%	(4.7)%	n/m	(29.0)%	24.7%	n/m	15.7%
% Change - Adjusted @ Constant FX (Non-GAAP)	52.4%	23.9%	11.3%	(5.6)%	n/m	(19.0)%	28.0%	n/m	10.3%
Operating Income Margin
Reported %	9.7%	18.0%	18.2%	14.1%	15.5%
Reported pp change	3.9 pp	3.2 pp	1.9 pp	(6.4)pp	3.1 pp
Adjusted %	10.7%	17.5%	19.6%	20.5%	17.1%
Adjusted pp change	2.4 pp	2.2 pp	1.5 pp	(1.5)pp	0.9 pp
For the Six Months Ended June 30, 2020
Latin America	AMEA	Europe	North America	Unrealized G/(L) on Hedging Activities	General Corporate Expenses	Amortization of Intangibles	Other Items	Mondelēz International
Net Revenue
Reported (GAAP)	$ 1,237	$ 2,739	$ 4,722	$ 3,920	$ -	$ -	$ -	$ -	$ 12,618
Divestitures	-	-	-	-	-	-	-	-	-
Adjusted (Non-GAAP)	$ 1,237	$ 2,739	$ 4,722	$ 3,920	$ -	$ -	$ -	$ -	$ 12,618
Operating Income
Reported (GAAP)	$ 72	$ 405	$ 769	$ 805	$ (187)	$ (187)	$ (93)	$ (15)	$ 1,569
Simplify to Grow Program	26	10	37	21	-	40	-	-	134
Intangible asset impairment charges	-	5	50	36	-	(1)	-	-	90
Mark-to-market (gains)/losses from derivatives	-	-	-	-	187	-	-	-	187
Acquisition integration costs	-	-	-	2	-	-	-	-	2
Acquisition-related costs	-	-	-	-	-	-	-	15	15
Divestiture-related costs	-	(2)	-	-	-	-	-	-	(2)
Costs associated with JDE Peet's transaction	-	-	-	-	-	48	-	-	48
Remeasurement of net monetary position	5	-	-	-	-	-	-	-	5
Adjusted (Non-GAAP)	$ 103	$ 418	$ 856	$ 864	$ -	$ (100)	$ (93)	$ -	$ 2,048
Operating Income Margin
Reported %	5.8%	14.8%	16.3%	20.5%	12.4%
Adjusted %	8.3%	15.3%	18.1%	22.0%	16.2%

WC - Q221 EPS

GAAP to Non-GAAP Reconciliation
Diluted EPS to Adjusted EPS
(Unaudited)
For the Three Months Ended June 30,
2021	2020	$ Change	% Change
Diluted EPS attributable to Mondelēz International (GAAP)	$ 0.76	$ 0.38	$ 0.38	100.0 %
Simplify to Grow Program	0.07	0.04	0.03
Intangible asset impairment charges	0.02	0.05	(0.03)
Mark-to-market (gains)/losses from derivatives	(0.02)	-	(0.02)
Acquisition-related costs	0.01	0.01	-
Net earnings from divestitures	-	(0.01)	0.01
Costs associated with JDE Peet's transaction	-	0.21	(0.21)
Impact from pension participation changes	0.02	-	0.02
Initial impacts from enacted tax law changes	0.07	-	0.07
Gain on equity method investment transactions	(0.27)	(0.08)	(0.19)
Equity method investee items	-	0.01	(0.01)
Adjusted EPS (Non-GAAP)	$ 0.66	$ 0.61	$ 0.05	8.2 %
Impact of favorable currency	(0.04)	-	(0.04)
Adjusted EPS @ Constant FX (Non-GAAP)	$ 0.62	$ 0.61	$ 0.01	1.6 %
Adjusted EPS @ Constant FX - Key Drivers
Increase in operations	$ 0.04
Change in benefit plan non-service income	-
Change in interest and other expense, net	0.01
Change in equity method investment net earnings	-
Change in income taxes	(0.05)
Change in shares outstanding	0.01
$ 0.01

WC - H121 EPS

GAAP to Non-GAAP Reconciliation
Diluted EPS to Adjusted EPS
(Unaudited)
For the Six Months Ended June 30,
2021	2020	$ Change	% Change
Diluted EPS attributable to Mondelēz International (GAAP)	$ 1.44	$ 0.89	$ 0.55	61.8 %
Simplify to Grow Program	0.13	0.07	0.06
Intangible asset impairment charges	0.02	0.05	(0.03)
Mark-to-market (gains)/losses from derivatives	(0.08)	0.11	(0.19)
Acquisition-related costs	0.01	0.01	-
Net earnings from divestitures	-	(0.02)	0.02
Costs associated with JDE Peet's transaction	-	0.21	(0.21)
Impact from pension participation changes	0.02	-	0.02
Loss related to interest rate swaps	-	0.06	(0.06)
Loss on debt extinguishment and related expenses	0.07	-	0.07
Initial impacts from enacted tax law changes	0.07	-	0.07
Gain on equity method investment transactions	(0.26)	(0.12)	(0.14)
Equity method investee items	0.04	0.02	0.02
Adjusted EPS (Non-GAAP)	$ 1.46	$ 1.28	$ 0.18	14.1 %
Impact of favorable currency	(0.07)	-	(0.07)
Adjusted EPS @ Constant FX (Non-GAAP)	$ 1.39	$ 1.28	$ 0.11	8.6 %
Adjusted EPS @ Constant FX - Key Drivers
Increase in operations	$ 0.11
Change in benefit plan non-service income	0.01
Change in interest and other expense, net	0.02
Change in equity method investment net earnings	0.01
Change in income taxes	(0.06)
Change in shares outstanding	0.02
$ 0.11

WC - FCF

GAAP to Non-GAAP Reconciliation
Net Cash Provided by Operating Activities to Free Cash Flow
(in millions of U.S. dollars) (Unaudited)
Mondelēz International
For the Six Months Ended June 30,	2021	2020	$ Change
Net Cash Provided by Operating Activities (GAAP)	$ 1,792	$ 1,558	$ 234
Capital Expenditures	(410)	(445)	35
Free Cash Flow (Non-GAAP)	$ 1,382	$ 1,113	$ 269
For the Three Months Ended June 30,	2021
Net Cash Provided by Operating Activities (GAAP)	$ 877
Capital Expenditures	(194)
Free Cash Flow (Non-GAAP)	$ 683