Mondelez International : Q2 2022 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,
2022	2021	2022	2021
Net revenues	$ 7,274	$ 6,642	$ 15,038	$ 13,880
Cost of sales	4,633	4,011	9,414	8,283
Gross profit	2,641	2,631	5,624	5,597
Gross profit margin	36.3%	39.6%	37.4%	40.3%
Selling, general and administrative expenses	1,676	1,593	3,369	3,157
Asset impairment and exit costs	6	134	170	224
Gain on acquisition	-	-	-	(9)
Amortization of intangible assets	32	32	64	70
Operating income	927	872	2,021	2,155
Operating income margin	12.7%	13.1%	13.4%	15.5%
Benefit plan non-service income	(30)	(54)	(63)	(98)
Interest and other expense, net	98	58	266	276
Earnings before income taxes	859	868	1,818	1,977
Income tax provision	(201)	(398)	(411)	(610)
Effective tax rate	23.4%	45.9%	22.6%	30.9%
(Loss)/gain on equity method investment transactions	(8)	502	(13)	495
Equity method investment net earnings	98	107	215	185
Net earnings	748	1,079	1,609	2,047
Noncontrolling interest earnings	(1)	(1)	(7)	(8)
Net earnings attributable to Mondelēz International	$ 747	$ 1,078	$ 1,602	$ 2,039
Per share data:
Basic earnings per share attributable to Mondelēz International	$ 0.54	$ 0.77	$ 1.16	$ 1.45
Diluted earnings per share attributable to Mondelēz International	$ 0.54	$ 0.76	$ 1.15	$ 1.44
Average shares outstanding:
Basic	1,382	1,407	1,385	1,410
Diluted	1,389	1,416	1,393	1,419

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,
2022	2021
ASSETS
Cash and cash equivalents	$ 1,924	$ 3,546
Trade receivables	2,467	2,337
Other receivables	715	851
Inventories, net	3,038	2,708
Other current assets	1,066	900
Total current assets	9,210	10,342
Property, plant and equipment, net	8,753	8,658
Operating lease right of use assets	626	613
Goodwill	22,103	21,978
Intangible assets, net	18,339	18,291
Prepaid pension assets	1,141	1,009
Deferred income taxes	551	541
Equity method investments	4,655	5,289
Other assets	636	371
TOTAL ASSETS	$ 66,014	$ 67,092
LIABILITIES
Short-term borrowings	$ 605	$ 216
Current portion of long-term debt	746	1,746
Accounts payable	6,787	6,730
Accrued marketing	2,151	2,097
Accrued employment costs	729	822
Other current liabilities	2,560	2,397
Total current liabilities	13,578	14,008
Long-term debt	17,861	17,550
Long-term operating lease liabilities	489	459
Deferred income taxes	3,580	3,444
Accrued pension costs	591	681
Accrued postretirement health care costs	299	301
Other liabilities	2,063	2,326
TOTAL LIABILITIES	38,461	38,769
EQUITY
Common Stock	-	-
Additional paid-in capital	32,086	32,097
Retained earnings	31,431	30,806
Accumulated other comprehensive losses	(10,638)	(10,624)
Treasury stock	(25,368)	(24,010)
Total Mondelēz International Shareholders' Equity	27,511	28,269
Noncontrolling interest	42	54
TOTAL EQUITY	27,553	28,323
TOTAL LIABILITIES AND EQUITY	$ 66,014	$ 67,092
June 30,	December 31,
2022	2021	Incr/(Decr)
Short-term borrowings	$ 605	$ 216	$ 389
Current portion of long-term debt	746	1,746	(1,000)
Long-term debt	17,861	17,550	311
Total Debt	19,212	19,512	(300)
Cash and cash equivalents	1,924	3,546	(1,622)
Net Debt (1)	$ 17,288	$ 15,966	$ 1,322
(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,
2022	2021
CASH PROVIDED BY/(USED IN) OPERATING ACTIVITIES
Net earnings	$ 1,609	$ 2,047
Adjustments to reconcile net earnings to operating cash flows:
Depreciation and amortization	548	564
Stock-based compensation expense	56	63
Deferred income tax (benefit)/provision	(32)	92
Asset impairments and accelerated depreciation	163	152
Loss on early extinguishment of debt	38	110
Gain on acquisition	-	(9)
Loss/(gain) on equity method investment transactions	13	(495)
Equity method investment net earnings	(215)	(185)
Distributions from equity method investments	121	94
Other non-cash items, net	150	(5)
Change in assets and liabilities, excluding the affects of acquisitions and divestitures:
Receivables, net	(227)	42
Inventories, net	(366)	(289)
Accounts payable	183	182
Other current assets	(142)	(190)
Other current liabilities	179	(231)
Change in pension and postretirement assets and liabilities, net	(111)	(150)
Net cash provided by/(used in) operating activities	1,967	1,792
CASH PROVIDED BY/(USED IN) INVESTING ACTIVITIES
Capital expenditures	(385)	(410)
Acquisitions, net of cash received	(1,402)	(833)
Proceeds from divestitures including equity method investments	595	998
Proceeds from sale of property, plant and equipment and other	193	25
Net cash provided by/(used in) investing activities	(999)	(220)
CASH PROVIDED BY/(USED IN) FINANCING ACTIVITIES
Issuance of Other Short-Term Borrowings, Net	219	37
Long-term debt proceeds	1,991	2,378
Long-term debt repayments	(2,329)	(3,376)
Repurchase of Common Stock	(1,506)	(1,498)
Dividends paid	(977)	(896)
Other	86	127
Net cash provided by/(used in) financing activities	(2,516)	(3,228)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(70)	(25)
Cash, Cash Equivalents and Restricted Cash
Decrease	(1,618)	(1,681)
Balance at beginning of period	3,553	3,650
Balance at end of period	$ 1,935	$ 1,969

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, 2022
Reported (GAAP)	$ 876	$ 1,535	$ 2,626	$ 2,237	$ 7,274
Acquisitions	-	-	(189)	(9)	(198)
Currency	14	93	303	8	418
Organic (Non-GAAP)	$ 890	$ 1,628	$ 2,740	$ 2,236	$ 7,494
For the Three Months Ended June 30, 2021
Reported (GAAP)	$ 669	$ 1,452	$ 2,474	$ 2,047	$ 6,642
Divestitures	-	(14)	-	-	(14)
Organic (Non-GAAP)	$ 669	$ 1,438	$ 2,474	$ 2,047	$ 6,628
% Change
Reported (GAAP)	30.9%	5.7%	6.1%	9.3%	9.5%
Divestitures	- pp	1.0 pp	- pp	- pp	0.2 pp
Acquisitions	-	-	(7.6)	(0.5)	(3.0)
Currency	2.1	6.5	12.3	0.4	6.4
Organic (Non-GAAP)	33.0%	13.2%	10.8%	9.2%	13.1%
Vol/Mix	12.4 pp	8.7 pp	5.9 pp	(1.0)pp	5.1 pp
Pricing	20.6	4.5	4.9	10.2	8.0
Latin America	AMEA	Europe	North America	Mondelēz International
For the Six Months Ended June 30, 2022
Reported (GAAP)	$ 1,702	$ 3,402	$ 5,561	$ 4,373	$ 15,038
Acquisitions	-	(15)	(373)	(16)	(404)
Currency	29	142	538	8	717
Organic (Non-GAAP)	$ 1,731	$ 3,529	$ 5,726	$ 4,365	$ 15,351
For the Six Months Ended June 30, 2021
Reported (GAAP)	$ 1,338	$ 3,197	$ 5,321	$ 4,024	$ 13,880
Divestitures	-	(14)	-	-	(14)
Organic (Non-GAAP)	$ 1,338	$ 3,183	$ 5,321	$ 4,024	$ 13,866
% Change
Reported (GAAP)	27.2%	6.4%	4.5%	8.7%	8.3%
Divestitures	- pp	0.5 pp	- pp	- pp	0.2 pp
Acquisitions	-	(0.4)	(7.0)	(0.4)	(2.9)
Currency	2.2	4.4	10.1	0.2	5.1
Organic (Non-GAAP)	29.4%	10.9%	7.6%	8.5%	10.7%
Vol/Mix	10.6 pp	7.5 pp	4.5 pp	(0.4)pp	4.3 pp
Pricing	18.8	3.4	3.1	8.9	6.4

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, 2022
Reported (GAAP)	$ 2,806	$ 4,468	$ 7,274
Acquisitions	(135)	(63)	(198)
Currency	138	280	418
Organic (Non-GAAP)	$ 2,809	$ 4,685	$ 7,494
For the Three Months Ended June 30, 2021
Reported (GAAP)	$ 2,293	$ 4,349	$ 6,642
Divestitures	-	(14)	(14)
Organic (Non-GAAP)	$ 2,293	$ 4,335	$ 6,628
% Change
Reported (GAAP)	22.4%	2.7%	9.5%
Divestitures	- pp	0.4 pp	0.2 pp
Acquisitions	(5.9)	(1.4)	(3.0)
Currency	6.0	6.4	6.4
Organic (Non-GAAP)	22.5%	8.1%	13.1%
Vol/Mix	10.2 pp	2.4 pp	5.1 pp
Pricing	12.3	5.7	8.0
Emerging Markets	Developed Markets	Mondelēz International
For the Six Months Ended June 30, 2022
Reported (GAAP)	$ 5,770	$ 9,268	$ 15,038
Acquisitions	(251)	(153)	(404)
Currency	277	440	717
Organic (Non-GAAP)	$ 5,796	$ 9,555	$ 15,351
For the Six Months Ended June 30, 2021
Reported (GAAP)	$ 4,856	$ 9,024	$ 13,880
Divestitures	-	(14)	(14)
Organic (Non-GAAP)	$ 4,856	$ 9,010	$ 13,866
% Change
Reported (GAAP)	18.8%	2.7%	8.3%
Divestitures	- pp	0.2 pp	0.2 pp
Acquisitions	(5.1)	(1.7)	(2.9)
Currency	5.7	4.8	5.1
Organic (Non-GAAP)	19.4%	6.0%	10.7%
Vol/Mix	9.9 pp	1.3 pp	4.3 pp
Pricing	9.5	4.7	6.4

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, 2022
Net Revenues	Gross Profit	Gross Profit Margin	Operating Income	Operating Income Margin
Reported (GAAP)	$ 7,274	$ 2,641	36.3%	$ 927	12.7%
Simplify to Grow Program	-	11	22
Mark-to-market (gains)/losses from derivatives	-	109	109
Acquisition integration costs and contingent consideration adjustments	-	1	37
Acquisition-related costs	-	-	5
Divestiture-related costs	-	1	5
Remeasurement of net monetary position	-	-	10
Incremental costs due to war in Ukraine	-	(7)	(15)
Adjusted (Non-GAAP)	$ 7,274	$ 2,756	37.9%	$ 1,100	15.1%
Currency	149	66
Adjusted @ Constant FX (Non-GAAP)	$ 2,905	$ 1,166
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 and contingent consideration adjustments	-	1	2
Acquisition-related costs	-	-	17
Operating income from divestitures	(14)	(1)	(2)
Remeasurement of net monetary position	-	-	3
Impact from pension participation changes	-	18	44
Impact from resolution of tax matters	-	-	(5)
Adjusted (Non-GAAP)	$ 6,628	$ 2,648	40.0%	$ 1,075	16.2%
Gross Profit	Operating Income
$ Change - Reported (GAAP)	$ 10	$ 55
$ Change - Adjusted (Non-GAAP)	108	25
$ Change - Adjusted @ Constant FX (Non-GAAP)	257	91
% Change - Reported (GAAP)	0.4%	6.3%
% Change - Adjusted (Non-GAAP)	4.1%	2.3%
% Change - Adjusted @ Constant FX (Non-GAAP)	9.7%	8.5%

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, 2022
Net Revenues	Gross Profit	Gross Profit Margin	Operating Income	Operating Income Margin
Reported (GAAP)	$ 15,038	$ 5,624	37.4%	$ 2,021	13.4%
Simplify to Grow Program	-	21	53
Intangible asset impairment charges	-	-	78
Mark-to-market (gains)/losses from derivatives	-	81	82
Acquisition integration costs and contingent consideration adjustments	-	1	69
Acquisition-related costs	-	-	26
Divestiture-related costs	-	2	6
Remeasurement of net monetary position	-	-	15
Incremental costs due to war in Ukraine	-	37	128
Adjusted (Non-GAAP)	$ 15,038	$ 5,766	38.3%	$ 2,478	16.5%
Currency	288	155
Adjusted @ Constant FX (Non-GAAP)	$ 6,054	$ 2,633
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 and contingent consideration adjustments	-	1	3
Acquisition-related costs	-	-	24
Operating income from divestitures	(14)	(1)	(2)
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)	$ 13,866	$ 5,514	39.8%	$ 2,367	17.1%
Gross Profit	Operating Income
$ Change - Reported (GAAP)	$ 27	$ (134)
$ Change - Adjusted (Non-GAAP)	252	111
$ Change - Adjusted @ Constant FX (Non-GAAP)	540	266
% Change - Reported (GAAP)	0.5%	(6.2)%
% Change - Adjusted (Non-GAAP)	4.6%	4.7%
% Change - Adjusted @ Constant FX (Non-GAAP)	9.8%	11.2%

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, 2022
Operating Income	Benefit plan non-service expense / (income)	Interest and other expense, net	Earnings before income taxes	Income taxes (1)	Effective tax rate	Loss 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)	$ 927	$ (30)	$ 98	$ 859	$ 201	23.4 %	$ 8	$ (98)	$ 1	$ 747	$ 0.54
Simplify to Grow Program	22	(1)	-	23	6	-	-	-	17	0.01
Mark-to-market (gains)/losses from derivatives	109	-	(19)	128	14	-	-	-	114	0.08
Acquisition integration costs and contingent consideration adjustments	37	-	-	37	1	-	-	-	36	0.03
Acquisition-related costs	5	-	-	5	2	-	-	-	3	-
Divestiture-related costs	5	-	-	5	1	-	-	-	4	-
Remeasurement of net monetary position	10	-	-	10	-	-	-	-	10	0.01
Impact from pension participation changes	-	-	(2)	2	-	-	-	-	2	-
Incremental costs due to war in Ukraine	(15)	-	-	(15)	-	-	-	-	(15)	(0.01)
Initial impacts from enacted tax law changes	-	-	-	-	(9)	-	-	-	9	0.01
Loss on equity method investment transactions	-	-	-	-	-	(8)	-	-	8	0.01
Equity method investee items	-	-	-	-	(2)	-	12	-	(10)	(0.01)
Adjusted (Non-GAAP)	$ 1,100	$ (31)	$ 77	$ 1,054	$ 214	20.3 %	$ -	$ (86)	$ 1	$ 925	$ 0.67
Currency	73	0.05
Adjusted @ Constant FX (Non-GAAP)	$ 998	$ 0.72
Diluted Average Shares Outstanding	1,389
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 and contingent consideration adjustments	2	-	-	2	1	-	-	-	1	-
Acquisition-related costs	17	-	-	17	3	-	-	-	14	0.01
Net earnings from divestitures	(2)	-	-	(2)	(3)	-	10	-	(9)	-
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	-	-	-	-	1	-	(5)	-	4	-
Adjusted (Non-GAAP)	$ 1,075	$ (41)	$ 54	$ 1,062	$ 233	21.9 %	$ -	$ (102)	$ 1	$ 930	$ 0.66
Diluted Average Shares Outstanding	1,416
(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, 2022
Operating Income	Benefit plan non-service expense / (income)	Interest and other expense, net	Earnings before income taxes	Income taxes (1)	Effective tax rate	Loss 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)	$ 2,021	$ (63)	$ 266	$ 1,818	$ 411	22.6 %	$ 13	$ (215)	$ 7	$ 1,602	$ 1.15
Simplify to Grow Program	53	(1)	-	54	13	-	-	-	41	0.03
Intangible asset impairment charges	78	-	-	78	19	-	-	-	59	0.04
Mark-to-market (gains)/losses from derivatives	82	-	(18)	100	19	-	-	-	81	0.06
Acquisition integration costs and contingent consideration adjustments	69	-	(3)	72	51	-	-	-	21	0.02
Acquisition-related costs	26	-	-	26	3	-	-	-	23	0.02
Divestiture-related costs	6	-	-	6	1	-	-	-	5	-
Remeasurement of net monetary position	15	-	-	15	-	-	-	-	15	0.01
Impact from pension participation changes	-	-	(5)	5	1	-	-	-	4	-
Incremental costs due to war in Ukraine	128	-	-	128	(2)	-	-	-	130	0.09
Loss on debt extinguishment and related expenses	-	-	(129)	129	31	-	-	-	98	0.07
Initial impacts from enacted tax law changes	-	-	-	-	(9)	-	-	-	9	0.01
Loss on equity method investment transactions	-	(13)	-	-	13	0.01
Equity method investee items	-	-	-	-	(5)	-	13	-	(8)	(0.01)
Adjusted (Non-GAAP)	$ 2,478	$ (64)	$ 111	$ 2,431	$ 533	21.9 %	$ -	$ (202)	$ 7	$ 2,093	$ 1.50
Currency	158	0.12
Adjusted @ Constant FX (Non-GAAP)	$ 2,251	$ 1.62
Diluted Average Shares Outstanding	1,393
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 and contingent consideration adjustments	3	-	-	3	1	-	-	-	2	-
Acquisition-related costs	24	-	-	24	4	-	-	-	20	0.01
Net earnings from divestitures	(2)	-	-	(2)	(6)	-	24	-	(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	-	-	-	-	3	-	(62)	-	59	0.04
Adjusted (Non-GAAP)	$ 2,367	$ (85)	$ 131	$ 2,321	$ 483	20.8 %	$ -	$ (223)	$ 8	$ 2,053	$ 1.45
Diluted Average Shares Outstanding	1,419
(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,
2022	2021	$ Change	% Change
Diluted EPS attributable to Mondelēz International (GAAP)	$ 0.54	$ 0.76	$ (0.22)	(28.9)%
Simplify to Grow Program	0.01	0.07	(0.06)
Intangible asset impairment charges	-	0.02	(0.02)
Mark-to-market (gains)/losses from derivatives	0.08	(0.02)	0.10
Acquisition integration costs and contingent consideration adjustments	0.03	-	0.03
Acquisition-related costs	-	0.01	(0.01)
Remeasurement of net monetary position	0.01	-	0.01
Impact from pension participation changes	-	0.02	(0.02)
Incremental costs due to war in Ukraine	(0.01)	-	(0.01)
Initial impacts from enacted tax law changes	0.01	0.07	(0.06)
(Gain)/loss on equity method investment transactions	0.01	(0.27)	0.28
Equity method investee items	(0.01)	-	(0.01)
Adjusted EPS (Non-GAAP)	$ 0.67	$ 0.66	$ 0.01	1.5 %
Impact of unfavorable currency	0.05	-	0.05
Adjusted EPS @ Constant FX (Non-GAAP)	$ 0.72	$ 0.66	$ 0.06	9.1 %
Adjusted EPS @ Constant FX - Key Drivers
Increase in operations	$ 0.04
Impact from acquisitions	0.01
Change in benefit plan non-service income	-
Change in interest and other expense, net	(0.01)
Change in equity method investment net earnings	(0.01)
Change in income taxes	0.02
Change in shares outstanding	0.01
$ 0.06

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,
2022	2021	$ Change	% Change
Diluted EPS attributable to Mondelēz International (GAAP)	$ 1.15	$ 1.44	$ (0.29)	(20.1)%
Simplify to Grow Program	0.03	0.13	(0.10)
Intangible asset impairment charges	0.04	0.02	0.02
Mark-to-market (gains)/losses from derivatives	0.06	(0.08)	0.14
Acquisition integration costs and contingent consideration adjustments	0.02	-	0.02
Acquisition-related costs	0.02	0.01	0.01
Net earnings from divestitures	-	(0.01)	0.01
Remeasurement of net monetary position	0.01	-	0.01
Impact from pension participation changes	-	0.02	(0.02)
Incremental costs due to war in Ukraine	0.09	-	0.09
Loss on debt extinguishment and related expenses	0.07	0.07	-
Initial impacts from enacted tax law changes	0.01	0.07	(0.06)
(Gain)/loss on equity method investment transactions	0.01	(0.26)	0.27
Equity method investee items	(0.01)	0.04	(0.05)
Adjusted EPS (Non-GAAP)	$ 1.50	$ 1.45	$ 0.05	3.4 %
Impact of unfavorable currency	0.12	-	0.12
Adjusted EPS @ Constant FX (Non-GAAP)	$ 1.62	$ 1.45	$ 0.17	11.7 %
Adjusted EPS @ Constant FX - Key Drivers
Increase in operations	$ 0.14
Impact from acquisitions	0.01
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	(0.01)
Change in shares outstanding	0.03
$ 0.17

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, 2022
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)	$ 876	$ 1,535	$ 2,626	$ 2,237	$ -	$ -	$ -	$ -	$ 7,274
Divestitures	-	-	-	-	-	-	-	-	-
Adjusted (Non-GAAP)	$ 876	$ 1,535	$ 2,626	$ 2,237	$ -	$ -	$ -	$ -	$ 7,274
Operating Income
Reported (GAAP)	$ 90	$ 211	$ 380	$ 454	$ (109)	$ (62)	$ (32)	$ (5)	$ 927
Simplify to Grow Program	1	3	8	13	-	(3)	-	-	22
Mark-to-market (gains)/losses from derivatives	-	-	-	-	109	-	-	-	109
Acquisition integration costs and contingent consideration adjustments	-	-	36	1	-	-	-	-	37
Acquisition-related costs	-	-	-	-	-	-	-	5	5
Divestiture-related costs	1	-	-	-	-	4	-	-	5
Remeasurement of net monetary position	10	-	-	-	-	-	-	-	10
Incremental costs due to war in Ukraine	-	-	(15)	-	-	-	-	-	(15)
Adjusted (Non-GAAP)	$ 102	$ 214	$ 409	$ 468	$ -	$ (61)	$ (32)	$ -	$ 1,100
Currency	(3)	19	52	1	-	(3)	-	-	66
Adjusted @ Constant FX (Non-GAAP)	$ 99	$ 233	$ 461	$ 469	$ -	$ (64)	$ (32)	$ -	$ 1,166
$ Change - Reported (GAAP)	$ 36	$ (2)	$ (33)	$ 155	n/m	$ 16	$ -	n/m	$ 55
$ Change - Adjusted (Non-GAAP)	46	(2)	(58)	27	n/m	12	-	n/m	25
$ Change - Adjusted @ Constant FX (Non-GAAP)	43	17	(6)	28	n/m	9	-	n/m	91
% Change - Reported (GAAP)	66.7%	(0.9)%	(8.0)%	51.8%	n/m	20.5%	0.0%	n/m	6.3%
% Change - Adjusted (Non-GAAP)	82.1%	(0.9)%	(12.4)%	6.1%	n/m	16.4%	0.0%	n/m	2.3%
% Change - Adjusted @ Constant FX (Non-GAAP)	76.8%	7.9%	(1.3)%	6.3%	n/m	12.3%	0.0%	n/m	8.5%
Operating Income Margin
Reported %	10.3%	13.7%	14.5%	20.3%	12.7%
Reported pp change	2.2 pp	(1.0)pp	(2.2)pp	5.7 pp	(0.4)pp
Adjusted %	11.6%	13.9%	15.6%	20.9%	15.1%
Adjusted pp change	3.2 pp	(1.1)pp	(3.3)pp	(0.6)pp	(1.1)pp
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	-	(14)	-	-	-	-	-	-	(14)
Adjusted (Non-GAAP)	$ 669	$ 1,438	$ 2,474	$ 2,047	$ -	$ -	$ -	$ -	$ 6,628
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 and contingent consideration adjustments	-	-	-	1	-	1	-	-	2
Acquisition-related costs	-	-	-	-	-	-	-	17	17
Operating income from divestitures	-	(2)	-	-	-	-	-	-	(2)
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	$ 216	$ 467	$ 441	$ -	$ (73)	$ (32)	$ -	$ 1,075
Operating Income Margin
Reported %	8.1%	14.7%	16.7%	14.6%	13.1%
Adjusted %	8.4%	15.0%	18.9%	21.5%	16.2%

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, 2022
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)	$ 1,702	$ 3,402	$ 5,561	$ 4,373	$ -	$ -	$ -	$ -	$ 15,038
Divestitures	-	-	-	-	-	-	-	-	-
Adjusted (Non-GAAP)	$ 1,702	$ 3,402	$ 5,561	$ 4,373	$ -	$ -	$ -	$ -	$ 15,038
Operating Income
Reported (GAAP)	$ 193	$ 483	$ 757	$ 872	$ (82)	$ (112)	$ (64)	$ (26)	$ 2,021
Simplify to Grow Program	1	6	15	28	-	3	-	-	53
Intangible asset impairment charges	-	78	-	-	-	-	-	-	78
Mark-to-market (gains)/losses from derivatives	-	-	-	-	82	-	-	-	82
Acquisition integration costs and contingent consideration adjustments	-	-	68	1	-	-	-	-	69
Acquisition-related costs	-	-	-	-	-	-	-	26	26
Divestiture-related costs	2	-	-	-	-	4	-	-	6
Remeasurement of net monetary position	15	-	-	-	-	-	-	-	15
Incremental costs due to war in Ukraine	-	-	128	-	-	-	-	-	128
Adjusted (Non-GAAP)	$ 211	$ 567	$ 968	$ 901	$ -	$ (105)	$ (64)	$ -	$ 2,478
Currency	3	29	129	2	-	(6)	(2)	-	155
Adjusted @ Constant FX (Non-GAAP)	$ 214	$ 596	$ 1,097	$ 903	$ -	$ (111)	$ (66)	$ -	$ 2,633
$ Change - Reported (GAAP)	$ 63	$ (92)	$ (213)	$ 303	n/m	$ 30	$ 6	n/m	$ (134)
$ Change - Adjusted (Non-GAAP)	68	8	(73)	78	n/m	24	6	n/m	111
$ Change - Adjusted @ Constant FX (Non-GAAP)	71	37	56	80	n/m	18	4	n/m	266
% Change - Reported (GAAP)	48.5%	(16.0)%	(22.0)%	53.3%	n/m	21.1%	8.6%	n/m	(6.2)%
% Change - Adjusted (Non-GAAP)	47.6%	1.4%	(7.0)%	9.5%	n/m	18.6%	8.6%	n/m	4.7%
% Change - Adjusted @ Constant FX (Non-GAAP)	49.7%	6.6%	5.4%	9.7%	n/m	14.0%	5.7%	n/m	11.2%
Operating Income Margin
Reported %	11.3%	14.2%	13.6%	19.9%	13.4%
Reported pp change	1.6 pp	(3.8)pp	(4.6)pp	5.8 pp	(2.1)pp
Adjusted %	12.4%	16.7%	17.4%	20.6%	16.5%
Adjusted pp change	1.7 pp	(0.9)pp	(2.2)pp	0.1 pp	(0.6)pp
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	-	(14)	-	-	-	-	-	-	(14)
Adjusted (Non-GAAP)	$ 1,338	$ 3,183	$ 5,321	$ 4,024	$ -	$ -	$ -	$ -	$ 13,866
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 and contingent consideration adjustments	-	-	-	2	-	1	-	-	3
Acquisition-related costs	-	-	-	-	-	-	-	24	24
Operating income from divestitures	-	(2)	-	-	-	-	-	-	(2)
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	$ 559	$ 1,041	$ 823	$ -	$ (129)	$ (70)	$ -	$ 2,367
Operating Income Margin
Reported %	9.7%	18.0%	18.2%	14.1%	15.5%
Adjusted %	10.7%	17.6%	19.6%	20.5%	17.1%

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,
2022	2021	$ Change
Net Cash Provided by Operating Activities (GAAP)	$ 1,967	$ 1,792	$ 175
Capital Expenditures	(385)	(410)	25
Free Cash Flow (Non-GAAP)	$ 1,582	$ 1,382	$ 200

WC - MDLZ 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, 2022
Reported (GAAP)	$ 876	$ 1,535	$ 2,626	$ 2,237	$ 7,274
Acquisitions	-	-	(189)	(9)	(198)
Currency	14	93	303	8	418
Organic (Non-GAAP)	$ 890	$ 1,628	$ 2,740	$ 2,236	$ 7,494
For the Three Months Ended June 30, 2021
Reported (GAAP)	$ 669	$ 1,452	$ 2,474	$ 2,047	$ 6,642
Divestitures	-	(14)	-	-	(14)
Organic (Non-GAAP)	$ 669	$ 1,438	$ 2,474	$ 2,047	$ 6,628
% Change
Reported (GAAP)	30.9%	5.7%	6.1%	9.3%	9.5%
Divestitures	- pp	1.0 pp	- pp	- pp	0.2 pp
Acquisitions	-	-	(7.6)	(0.5)	(3.0)
Currency	2.1	6.5	12.3	0.4	6.4
Organic (Non-GAAP)	33.0%	13.2%	10.8%	9.2%	13.1%
Vol/Mix	12.4 pp	8.7 pp	5.9 pp	(1.0)pp	5.1 pp
Pricing	20.6	4.5	4.9	10.2	8.0
Latin America	AMEA	Europe	North America	Mondelēz International
For the Six Months Ended June 30, 2022
Reported (GAAP)	$ 1,702	$ 3,402	$ 5,561	$ 4,373	$ 15,038
Acquisitions	-	(15)	(373)	(16)	(404)
Currency	29	142	538	8	717
Organic (Non-GAAP)	$ 1,731	$ 3,529	$ 5,726	$ 4,365	$ 15,351
For the Six Months Ended June 30, 2021
Reported (GAAP)	$ 1,338	$ 3,197	$ 5,321	$ 4,024	$ 13,880
Divestitures	-	(14)	-	-	(14)
Organic (Non-GAAP)	$ 1,338	$ 3,183	$ 5,321	$ 4,024	$ 13,866
% Change
Reported (GAAP)	27.2%	6.4%	4.5%	8.7%	8.3%
Divestitures	- pp	0.5 pp	- pp	- pp	0.2 pp
Acquisitions	-	(0.4)	(7.0)	(0.4)	(2.9)
Currency	2.2	4.4	10.1	0.2	5.1
Organic (Non-GAAP)	29.4%	10.9%	7.6%	8.5%	10.7%
Vol/Mix	10.6 pp	7.5 pp	4.5 pp	(0.4)pp	4.3 pp
Pricing	18.8	3.4	3.1	8.9	6.4

WC - Q222 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, 2022
Net Revenues	Gross Profit	Gross Profit Margin	Operating Income	Operating Income Margin
Reported (GAAP)	$ 7,274	$ 2,641	36.3%	$ 927	12.7%
Simplify to Grow Program	-	11	22
Mark-to-market (gains)/losses from derivatives	-	109	109
Acquisition integration costs and contingent consideration adjustments	-	1	37
Acquisition-related costs	-	-	5
Divestiture-related costs	-	1	5
Remeasurement of net monetary position	-	-	10
Incremental costs due to war in Ukraine	-	(7)	(15)
Adjusted (Non-GAAP)	$ 7,274	$ 2,756	37.9%	$ 1,100	15.1%
Currency	149	66
Adjusted @ Constant FX (Non-GAAP)	$ 2,905	$ 1,166
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 and contingent consideration adjustments	-	1	2
Acquisition-related costs	-	-	17
Operating income from divestitures	(14)	(1)	(2)
Remeasurement of net monetary position	-	-	3
Impact from pension participation changes	-	18	44
Impact from resolution of tax matters	-	-	(5)
Adjusted (Non-GAAP)	$ 6,628	$ 2,648	40.0%	$ 1,075	16.2%
Gross Profit	Operating Income
$ Change - Reported (GAAP)	$ 10	$ 55
$ Change - Adjusted (Non-GAAP)	108	25
$ Change - Adjusted @ Constant FX (Non-GAAP)	257	91
% Change - Reported (GAAP)	0.4%	6.3%
% Change - Adjusted (Non-GAAP)	4.1%	2.3%
% Change - Adjusted @ Constant FX (Non-GAAP)	9.7%	8.5%

WC - H122 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, 2022
Net Revenues	Gross Profit	Gross Profit Margin	Operating Income	Operating Income Margin
Reported (GAAP)	$ 15,038	$ 5,624	37.4%	$ 2,021	13.4%
Simplify to Grow Program	-	21	53
Intangible asset impairment charges	-	-	78
Mark-to-market (gains)/losses from derivatives	-	81	82
Acquisition integration costs and contingent consideration adjustments	-	1	69
Acquisition-related costs	-	-	26
Divestiture-related costs	-	2	6
Remeasurement of net monetary position	-	-	15
Incremental costs due to war in Ukraine	-	37	128
Adjusted (Non-GAAP)	$ 15,038	$ 5,766	38.3%	$ 2,478	16.5%
Currency	288	155
Adjusted @ Constant FX (Non-GAAP)	$ 6,054	$ 2,633
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 and contingent consideration adjustments	-	1	3
Acquisition-related costs	-	-	24
Operating income from divestitures	(14)	(1)	(2)
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)	$ 13,866	$ 5,514	39.8%	$ 2,367	17.1%
Gross Profit	Operating Income
$ Change - Reported (GAAP)	$ 27	$ (134)
$ Change - Adjusted (Non-GAAP)	252	111
$ Change - Adjusted @ Constant FX (Non-GAAP)	540	266
% Change - Reported (GAAP)	0.5%	(6.2)%
% Change - Adjusted (Non-GAAP)	4.6%	4.7%
% Change - Adjusted @ Constant FX (Non-GAAP)	9.8%	11.2%

WC - Q222 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,	2022	2021	$ Change
Net Cash Provided by Operating Activities (GAAP)	$ 1,967	$ 1,792	$ 175
Capital Expenditures	(385)	(410)	25
Free Cash Flow (Non-GAAP)	$ 1,582	$ 1,382	$ 200

WC - 18-15 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	2018	3 Year CAGR
Reported (GAAP)	$ 25,923	$ 25,896	$ 25,938
Divestitures	(814)	(402)	(126)
Acquisitions	(92)	(59)	(52)
Currency	1,233	(77)	343
Organic (Non-GAAP)	$ 26,250	$ 25,358	$ 26,103
For the Twelve Months Ended December 31,	2015	2016	2017
Reported (GAAP)	$ 29,636	$ 25,923	$ 25,896
Divestitures	(880)	(814)	(402)
Historical Venezuelan operations	(1,217)	-	-
Historical coffee business	(1,627)	-	-
Accounting calendar change	(76)	-	-
Organic (Non-GAAP)	$ 25,836	$ 25,109	$ 25,494
% Change
Reported (GAAP)	(12.5)%	(0.1)%	0.2%	(4.1)%
Organic (Non-GAAP)	1.6%	1.0%	2.4%	1.7%

WC - 22-20 Qtrs 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	March 31, 2021	June 30, 2021	September 30, 2021	December 31, 2021	March 31, 2022
Reported (GAAP)	$ 7,238	$ 6,642	$ 7,182	$ 7,658	$ 7,764
Divestitures	-	(14)	(16)	(5)	-
Acquisitions	(114)	(40)	(46)	(54)	(206)
Currency	(160)	(309)	(89)	96	299
Organic (Non-GAAP)	$ 6,964	$ 6,279	$ 7,031	$ 7,695	$ 7,857
For the Three Months Ended	March 31, 2020	June 30, 2020	September 30, 2020	December 31, 2020	March 31, 2021
Reported (GAAP)	$ 6,707	$ 5,911	$ 6,665	$ 7,298	$ 7,238
Divestitures	-	-	-	-	-
Organic (Non-GAAP)	$ 6,707	$ 5,911	$ 6,665	$ 7,298	$ 7,238
% Change
Reported (GAAP)	7.9%	12.4%	7.8%	4.9%	7.3%
Organic (Non-GAAP)	3.8%	6.2%	5.5%	5.4%	8.6%
Vol/Mix	1.5 pp	4.0 pp	2.4 pp	2.8 pp	3.8 pp
Pricing	2.3	2.2	3.1	2.6	4.8

WC - 21-18 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	2021	3 Year CAGR	2019	2020	2021	2019	2020	2021
Reported (GAAP)	$ 25,868	$ 26,581	$ 28,720	$ 9,675	$ 9,097	$ 10,132	$ 16,193	$ 17,484	$ 18,588
Divestitures	(55)	-	(35)	(55)	-	-	-	-	(35)
Acquisitions	(88)	(445)	(254)	-	-	-	(88)	(445)	(254)
Currency	1,154	637	(462)	651	749	74	503	(112)	(536)
Organic (Non-GAAP)	$ 26,879	$ 26,773	$ 27,969	$ 10,271	$ 9,846	$ 10,206	$ 16,608	$ 16,927	$ 17,763
For the Twelve Months Ended December 31,	2018	2019	2020	2018	2019	2020	2018	2019	2020
Reported (GAAP)	$ 25,938	$ 25,868	$ 26,581	$ 9,659	$ 9,675	$ 9,097	$ 16,279	$ 16,193	$ 17,484
Divestitures	(126)	(55)	-	(126)	(55)	-	-	-	-
Organic (Non-GAAP)	$ 25,812	$ 25,813	$ 26,581	$ 9,533	$ 9,620	$ 9,097	$ 16,279	$ 16,193	$ 17,484
% Change
Reported (GAAP)	(0.3)%	2.8%	8.0%	3.4%	0.2%	(6.0)%	11.4%	(0.5)%	8.0%	6.3%
Organic (Non-GAAP)	4.1%	3.7%	5.2%	4.3%	7.7%	2.3%	12.2%	2.0%	4.5%	1.6%
Vol/Mix	1.9 pp	1.8 pp	2.6 pp	3.1 pp	(1.3)pp	6.6 pp	1.2 pp	3.6 pp	0.6 pp
Pricing	2.2	1.9	2.6	4.6	3.6	5.6	0.8	0.9	1.0

WC - 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, 2022
Reported (GAAP)	$ 2,806	$ 4,468	$ 7,274
Acquisitions	(135)	(63)	(198)
Currency	138	280	418
Organic (Non-GAAP)	$ 2,809	$ 4,685	$ 7,494
For the Three Months Ended June 30, 2021
Reported (GAAP)	$ 2,293	$ 4,349	$ 6,642
Divestitures	-	(14)	(14)
Organic (Non-GAAP)	$ 2,293	$ 4,335	$ 6,628
% Change
Reported (GAAP)	22.4%	2.7%	9.5%
Divestitures	- pp	0.4 pp	0.2 pp
Acquisitions	(5.9)	(1.4)	(3.0)
Currency	6.0	6.4	6.4
Organic (Non-GAAP)	22.5%	8.1%	13.1%
Vol/Mix	10.2 pp	2.4 pp	5.1 pp
Pricing	12.3	5.7	8.0
Emerging Markets	Developed Markets	Mondelēz International
For the Six Months Ended June 30, 2022
Reported (GAAP)	$ 5,770	$ 9,268	$ 15,038
Acquisitions	(251)	(153)	(404)
Currency	277	440	717
Organic (Non-GAAP)	$ 5,796	$ 9,555	$ 15,351
For the Six Months Ended June 30, 2021
Reported (GAAP)	$ 4,856	$ 9,024	$ 13,880
Divestitures	-	(14)	(14)
Organic (Non-GAAP)	$ 4,856	$ 9,010	$ 13,866
% Change
Reported (GAAP)	18.8%	2.7%	8.3%
Divestitures	- pp	0.2 pp	0.2 pp
Acquisitions	(5.1)	(1.7)	(2.9)
Currency	5.7	4.8	5.1
Organic (Non-GAAP)	19.4%	6.0%	10.7%
Vol/Mix	9.9 pp	1.3 pp	4.3 pp
Pricing	9.5	4.7	6.4

WC - Q222 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, 2022
Reported (GAAP)	$ 2,806	$ 139	$ 2,667
Acquisition	(135)	-	(135)
Currency	138	34	104
Organic (Non-GAAP)	$ 2,809	$ 173	$ 2,636
For the Three Months Ended June 30, 2021
Reported (GAAP)	$ 2,293	$ 96	$ 2,197
Divestitures	-	-	-
Organic (Non-GAAP)	$ 2,293	$ 96	$ 2,197
% Change
Reported (GAAP)	22.4%	44.8%	21.4%
Divestitures	- pp	- pp	- pp
Acquisition	(5.9)	-	(6.1)
Currency	6.0	35.4	4.7
Organic (Non-GAAP)	22.5%	80.2%	20.0%
Latin America	Argentina	Latin America ex. Argentina
For the Three Months Ended June 30, 2022
Reported (GAAP)	$ 876	$ 139	$ 737
Currency	14	34	(20)
Organic (Non-GAAP)	$ 890	$ 173	$ 717
For the Three Months Ended June 30, 2021
Reported (GAAP)	$ 669	$ 96	$ 573
Divestitures	-	-	-
Organic (Non-GAAP)	$ 669	$ 96	$ 573
% Change
Reported (GAAP)	30.9%	44.8%	28.6%
Divestitures	- pp	- pp	- pp
Currency	2.1	35.4	(3.5)
Organic (Non-GAAP)	33.0%	80.2%	25.1%

WC - 21-18 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	Biscuits & Chocolate	Gum & Candy	Total Snacks	Beverage	Cheese & Grocery	Mondelēz International
For the Twelve Months Ended December 31, 2021
Reported (GAAP)	$ 13,552	$ 9,271	$ 22,823	$ 2,872	$ 25,695	$ 1,035	$ 1,990	$ 28,720
Divestitures	-	-	-	-	-	-	(35)	(35)
Acquisitions	(210)	(30)	(240)	-	(240)	(14)	-	(254)
Currency	(164)	(240)	(404)	(23)	(427)	27	(62)	(462)
Organic (Non-GAAP)	$ 13,178	$ 9,001	$ 22,179	$ 2,849	$ 25,028	$ 1,048	$ 1,893	$ 27,969
For the Twelve Months Ended December 31, 2020
Reported (GAAP)	$ 12,796	$ 8,149	$ 20,945	$ 2,662	$ 23,607	$ 1,049	$ 1,925	$ 26,581
Divestitures	-	-	-	-	-	-	-	-
Organic (Non-GAAP)	$ 12,796	$ 8,149	$ 20,945	$ 2,662	$ 23,607	$ 1,049	$ 1,925	$ 26,581
% Change
Reported (GAAP)	5.9%	13.8%	9.0%	7.9%	8.8%	(1.3)%	3.4%	8.0%
Organic (Non-GAAP)	3.0%	10.5%	5.9%	7.0%	6.0%	(0.1)%	(1.7)%	5.2%
Biscuits	Chocolate	Biscuits & Chocolate	Gum & Candy	Total Snacks	Beverage	Cheese & Grocery	Mondelēz International
For the Twelve Months Ended December 31, 2020
Reported (GAAP)	$ 12,796	$ 8,149	$ 20,945	$ 2,662	$ 23,607	$ 1,049	$ 1,925	$ 26,581
Acquisitions	(445)	-	(445)	-	(445)	-	-	(445)
Currency	131	256	387	102	489	124	24	637
Organic (Non-GAAP)	$ 12,482	$ 8,405	$ 20,887	$ 2,764	$ 23,651	$ 1,173	$ 1,949	$ 26,773
For the Twelve Months Ended December 31, 2019
Reported (GAAP)	$ 11,464	$ 8,132	$ 19,596	$ 3,355	$ 22,951	$ 1,095	$ 1,822	$ 25,868
Divestitures	-	-	-	-	-	-	(55)	(55)
Organic (Non-GAAP)	$ 11,464	$ 8,132	$ 19,596	$ 3,355	$ 22,951	$ 1,095	$ 1,767	$ 25,813
% Change
Reported (GAAP)	11.6%	0.2%	6.9%	(20.7)%	2.9%	(4.2)%	5.7%	2.8%
Organic (Non-GAAP)	8.9%	3.4%	6.6%	(17.6)%	3.0%	7.1%	10.3%	3.7%
2 Year CAGR
Reported (GAAP)	8.7%	6.8%	7.9%	(7.5)%	5.8%	(2.8)%	4.5%	5.4%
Organic (Non-GAAP)	5.9%	6.9%	6.2%	(6.1)%	4.5%	3.4%	4.1%	4.4%
Biscuits	Chocolate	Biscuits & Chocolate	Gum & Candy	Total Snacks	Beverage	Cheese & Grocery	Mondelēz International
For the Twelve Months Ended December 31, 2019
Reported (GAAP)	$ 11,464	$ 8,132	$ 19,596	$ 3,355	$ 22,951	$ 1,095	$ 1,822	$ 25,868
Divestitures	-	-	-	-	-	-	(55)	(55)
Acquisitions	(88)	-	(88)	-	(88)	-	-	(88)
Currency	323	494	817	149	966	114	74	1,154
Organic (Non-GAAP)	$ 11,699	$ 8,626	$ 20,325	$ 3,504	$ 23,829	$ 1,209	$ 1,841	$ 26,879
For the Twelve Months Ended December 31, 2018
Reported (GAAP)	$ 11,207	$ 8,155	$ 19,362	$ 3,491	$ 22,853	$ 1,184	$ 1,901	$ 25,938
Divestitures	-	-	-	-	-	-	(126)	(126)
Organic (Non-GAAP)	$ 11,207	$ 8,155	$ 19,362	$ 3,491	$ 22,853	$ 1,184	$ 1,775	$ 25,812
% Change
Reported (GAAP)	2.3%	(0.3)%	1.2%	(3.9)%	0.4%	(7.5)%	(4.2)%	(0.3)%
Organic (Non-GAAP)	4.4%	5.8%	5.0%	0.4%	4.3%	2.1%	3.7%	4.1%
Biscuits	Chocolate	Biscuits & Chocolate	Gum & Candy	Total Snacks	Beverage	Cheese & Grocery	Mondelēz International
For the Twelve Months Ended December 31, 2018
Reported (GAAP)	$ 11,207	$ 8,155	$ 19,362	$ 3,491	$ 22,853	$ 1,184	$ 1,901	$ 25,938
Divestitures	-	-	-	-	-	-	(126)	(126)
Acquisitions	(52)	-	(52)	-	(52)	-	-	(52)
Currency	11	105	116	101	217	133	(7)	343
Organic (Non-GAAP)	$ 11,166	$ 8,260	$ 19,426	$ 3,592	$ 23,018	$ 1,317	$ 1,768	$ 26,103
For the Twelve Months Ended December 31, 2017
Reported (GAAP)	$ 10,857	$ 8,014	$ 18,871	$ 3,638	$ 22,509	$ 1,355	$ 2,032	$ 25,896
Divestitures	-	(30)	(30)	(50)	(80)	(23)	(299)	(402)
Organic (Non-GAAP)	$ 10,857	$ 7,984	$ 18,841	$ 3,588	$ 22,429	$ 1,332	$ 1,733	$ 25,494
% Change
Reported (GAAP)	3.2%	1.8%	2.6%	(4.0)%	1.5%	(12.6)%	(6.4)%	0.2%
Organic (Non-GAAP)	2.8%	3.5%	3.1%	0.1%	2.6%	(1.1)%	2.0%	2.4%
2 Year CAGR
Reported (GAAP)	2.7%	0.7%	1.9%	(4.0)%	0.9%	(10.1)%	(5.3)%	(0.1)%
Organic (Non-GAAP)	3.6%	4.6%	4.0%	0.2%	3.4%	0.5%	2.8%	3.2%

WC - 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	Biscuits & Chocolate	Gum & Candy	Total Snacks	Beverage	Cheese & Grocery	Mondelēz International
For the Three Months Ended June 30, 2022
Reported (GAAP)	$ 3,725	$ 1,979	$ 5,704	$ 840	$ 6,544	$ 260	$ 470	$ 7,274
Acquisitions	(193)	(5)	(198)	-	(198)	-	-	(198)
Currency	146	158	304	58	362	13	43	418
Organic (Non-GAAP)	$ 3,678	$ 2,132	$ 5,810	$ 898	$ 6,708	$ 273	$ 513	$ 7,494
For the Three Months Ended June 30, 2021
Reported (GAAP)	$ 3,333	$ 1,847	$ 5,180	$ 713	$ 5,893	$ 255	$ 494	$ 6,642
Divestitures	-	-	-	-	-	-	(14)	(14)
Organic (Non-GAAP)	$ 3,333	$ 1,847	$ 5,180	$ 713	$ 5,893	$ 255	$ 480	$ 6,628
% Change
Reported (GAAP)	11.8%	7.1%	10.1%	17.8%	11.0%	2.0%	(4.9)%	9.5%
Organic (Non-GAAP)	10.4%	15.4%	12.2%	25.9%	13.8%	7.1%	6.9%	13.1%
Biscuits	Chocolate	Biscuits & Chocolate	Gum & Candy	Total Snacks	Beverage	Cheese & Grocery	Mondelēz International
For the Six Months Ended June 30, 2022
Reported (GAAP)	$ 7,356	$ 4,522	$ 11,878	$ 1,627	$ 13,505	$ 591	$ 942	$ 15,038
Acquisitions	(387)	(12)	(399)	-	(399)	(5)	-	(404)
Currency	235	290	525	99	624	27	66	717
Organic (Non-GAAP)	$ 7,204	$ 4,800	$ 12,004	$ 1,726	$ 13,730	$ 613	$ 1,008	$ 15,351
For the Six Months Ended June 30, 2021
Reported (GAAP)	$ 6,639	$ 4,316	$ 10,955	$ 1,364	$ 12,319	$ 562	$ 999	$ 13,880
Divestitures	-	-	-	-	-	-	(14)	(14)
Organic (Non-GAAP)	$ 6,639	$ 4,316	$ 10,955	$ 1,364	$ 12,319	$ 562	$ 985	$ 13,866
% Change
Reported (GAAP)	10.8%	4.8%	8.4%	19.3%	9.6%	5.2%	(5.7)%	8.3%
Organic (Non-GAAP)	8.5%	11.2%	9.6%	26.5%	11.5%	9.1%	2.3%	10.7%

WC - Q222 Seg OI

GAAP to Non-GAAP Reconciliation
Segment Data
(in millions of U.S. dollars) (Unaudited)
For the Three Months Ended June 30, 2022
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)	$ 876	$ 1,535	$ 2,626	$ 2,237	$ -	$ -	$ -	$ -	$ 7,274
Divestitures	-	-	-	-	-	-	-	-	-
Adjusted (Non-GAAP)	$ 876	$ 1,535	$ 2,626	$ 2,237	$ -	$ -	$ -	$ -	$ 7,274
Operating Income
Reported (GAAP)	$ 90	$ 211	$ 380	$ 454	$ (109)	$ (62)	$ (32)	$ (5)	$ 927
Simplify to Grow Program	1	3	8	13	-	(3)	-	-	22
Mark-to-market (gains)/losses from derivatives	-	-	-	-	109	-	-	-	109
Acquisition integration costs and contingent consideration adjustments	-	-	36	1	-	-	-	-	37
Acquisition-related costs	-	-	-	-	-	-	-	5	5
Divestiture-related costs	1	-	-	-	-	4	-	-	5
Remeasurement of net monetary position	10	-	-	-	-	-	-	-	10
Incremental costs due to war in Ukraine	-	-	(15)	-	-	-	-	-	(15)
Adjusted (Non-GAAP)	$ 102	$ 214	$ 409	$ 468	$ -	$ (61)	$ (32)	$ -	$ 1,100
Currency	(3)	19	52	1	-	(3)	-	-	66
Adjusted @ Constant FX (Non-GAAP)	$ 99	$ 233	$ 461	$ 469	$ -	$ (64)	$ (32)	$ -	$ 1,166
$ Change - Reported (GAAP)	$ 36	$ (2)	$ (33)	$ 155	n/m	$ 16	$ -	n/m	$ 55
$ Change - Adjusted (Non-GAAP)	46	(2)	(58)	27	n/m	12	-	n/m	25
$ Change - Adjusted @ Constant FX (Non-GAAP)	43	17	(6)	28	n/m	9	-	n/m	91
% Change - Reported (GAAP)	66.7%	(0.9)%	(8.0)%	51.8%	n/m	20.5%	0.0%	n/m	6.3%
% Change - Adjusted (Non-GAAP)	82.1%	(0.9)%	(12.4)%	6.1%	n/m	16.4%	0.0%	n/m	2.3%
% Change - Adjusted @ Constant FX (Non-GAAP)	76.8%	7.9%	(1.3)%	6.3%	n/m	12.3%	0.0%	n/m	8.5%
Operating Income Margin
Reported %	10.3%	13.7%	14.5%	20.3%	12.7%
Reported pp change	2.2 pp	(1.0)pp	(2.2)pp	5.7 pp	(0.4)pp
Adjusted %	11.6%	13.9%	15.6%	20.9%	15.1%
Adjusted pp change	3.2 pp	(1.1)pp	(3.3)pp	(0.6)pp	(1.1)pp
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	-	(14)	-	-	-	-	-	-	(14)
Adjusted (Non-GAAP)	$ 669	$ 1,438	$ 2,474	$ 2,047	$ -	$ -	$ -	$ -	$ 6,628
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 and contingent consideration adjustments	-	-	-	1	-	1	-	-	2
Acquisition-related costs	-	-	-	-	-	-	-	17	17
Operating income from divestitures	-	(2)	-	-	-	-	-	-	(2)
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	$ 216	$ 467	$ 441	$ -	$ (73)	$ (32)	$ -	$ 1,075
Operating Income Margin
Reported %	8.1%	14.7%	16.7%	14.6%	13.1%
Adjusted %	8.4%	15.0%	18.9%	21.5%	16.2%

WC - H122 Seg OI

GAAP to Non-GAAP Reconciliation
Segment Data
(in millions of U.S. dollars) (Unaudited)
For the Six Months Ended June 30, 2022
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)	$ 1,702	$ 3,402	$ 5,561	$ 4,373	$ -	$ -	$ -	$ -	$ 15,038
Divestitures	-	-	-	-	-	-	-	-	-
Adjusted (Non-GAAP)	$ 1,702	$ 3,402	$ 5,561	$ 4,373	$ -	$ -	$ -	$ -	$ 15,038
Operating Income
Reported (GAAP)	$ 193	$ 483	$ 757	$ 872	$ (82)	$ (112)	$ (64)	$ (26)	$ 2,021
Simplify to Grow Program	1	6	15	28	-	3	-	-	53
Intangible asset impairment charges	-	78	-	-	-	-	-	-	78
Mark-to-market (gains)/losses from derivatives	-	-	-	-	82	-	-	-	82
Acquisition integration costs and contingent consideration adjustments	-	-	68	1	-	-	-	-	69
Acquisition-related costs	-	-	-	-	-	-	-	26	26
Divestiture-related costs	2	-	-	-	-	4	-	-	6
Remeasurement of net monetary position	15	-	-	-	-	-	-	-	15
Incremental costs due to war in Ukraine	-	-	128	-	-	-	-	-	128
Adjusted (Non-GAAP)	$ 211	$ 567	$ 968	$ 901	$ -	$ (105)	$ (64)	$ -	$ 2,478
Currency	3	29	129	2	-	(6)	(2)	-	155
Adjusted @ Constant FX (Non-GAAP)	$ 214	$ 596	$ 1,097	$ 903	$ -	$ (111)	$ (66)	$ -	$ 2,633
$ Change - Reported (GAAP)	$ 63	$ (92)	$ (213)	$ 303	n/m	$ 30	$ 6	n/m	$ (134)
$ Change - Adjusted (Non-GAAP)	68	8	(73)	78	n/m	24	6	n/m	111
$ Change - Adjusted @ Constant FX (Non-GAAP)	71	37	56	80	n/m	18	4	n/m	266
% Change - Reported (GAAP)	48.5%	(16.0)%	(22.0)%	53.3%	n/m	21.1%	8.6%	n/m	(6.2)%
% Change - Adjusted (Non-GAAP)	47.6%	1.4%	(7.0)%	9.5%	n/m	18.6%	8.6%	n/m	4.7%
% Change - Adjusted @ Constant FX (Non-GAAP)	49.7%	6.6%	5.4%	9.7%	n/m	14.0%	5.7%	n/m	11.2%
Operating Income Margin
Reported %	11.3%	14.2%	13.6%	19.9%	13.4%
Reported pp change	1.6 pp	(3.8)pp	(4.6)pp	5.8 pp	(2.1)pp
Adjusted %	12.4%	16.7%	17.4%	20.6%	16.5%
Adjusted pp change	1.7 pp	(0.9)pp	(2.2)pp	0.1 pp	(0.6)pp
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	-	(14)	-	-	-	-	-	-	(14)
Adjusted (Non-GAAP)	$ 1,338	$ 3,183	$ 5,321	$ 4,024	$ -	$ -	$ -	$ -	$ 13,866
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 and contingent consideration adjustments	-	-	-	2	-	1	-	-	3
Acquisition-related costs	-	-	-	-	-	-	-	24	24
Operating income from divestitures	-	(2)	-	-	-	-	-	-	(2)
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	$ 559	$ 1,041	$ 823	$ -	$ (129)	$ (70)	$ -	$ 2,367
Operating Income Margin
Reported %	9.7%	18.0%	18.2%	14.1%	15.5%
Adjusted %	10.7%	17.6%	19.6%	20.5%	17.1%

WC - Q222 EPS

GAAP to Non-GAAP Reconciliation
Diluted EPS to Adjusted EPS
(Unaudited)
For the Three Months Ended June 30,
2022	2021	$ Change	% Change
Diluted EPS attributable to Mondelēz International (GAAP)	$ 0.54	$ 0.76	$ (0.22)	(28.9)%
Simplify to Grow Program	0.01	0.07	(0.06)
Intangible asset impairment charges	-	0.02	(0.02)
Mark-to-market (gains)/losses from derivatives	0.08	(0.02)	0.10
Acquisition integration costs and contingent consideration adjustments	0.03	-	0.03
Acquisition-related costs	-	0.01	(0.01)
Remeasurement of net monetary position	0.01	-	0.01
Impact from pension participation changes	-	0.02	(0.02)
Incremental costs due to war in Ukraine	(0.01)	-	(0.01)
Initial impacts from enacted tax law changes	0.01	0.07	(0.06)
(Gain)/loss on equity method investment transactions	0.01	(0.27)	0.28
Equity method investee items	(0.01)	-	(0.01)
Adjusted EPS (Non-GAAP)	$ 0.67	$ 0.66	$ 0.01	1.5 %
Impact of unfavorable currency	0.05	-	0.05
Adjusted EPS @ Constant FX (Non-GAAP)	$ 0.72	$ 0.66	$ 0.06	9.1 %
Adjusted EPS @ Constant FX - Key Drivers
Increase in operations	$ 0.04
Impact from acquisitions	0.01
Change in benefit plan non-service income	-
Change in interest and other expense, net	(0.01)
Change in equity method investment net earnings	(0.01)
Change in income taxes	0.02
Change in shares outstanding	0.01
$ 0.06

WC - H122 EPS

GAAP to Non-GAAP Reconciliation
Diluted EPS to Adjusted EPS
(Unaudited)
For the Six Months Ended June 30,
2022	2021	$ Change	% Change
Diluted EPS attributable to Mondelēz International (GAAP)	$ 1.15	$ 1.44	$ (0.29)	(20.1)%
Simplify to Grow Program	0.03	0.13	(0.10)
Intangible asset impairment charges	0.04	0.02	0.02
Mark-to-market (gains)/losses from derivatives	0.06	(0.08)	0.14
Acquisition integration costs and contingent consideration adjustments	0.02	-	0.02
Acquisition-related costs	0.02	0.01	0.01
Net earnings from divestitures	-	(0.01)	0.01
Remeasurement of net monetary position	0.01	-	0.01
Impact from pension participation changes	-	0.02	(0.02)
Incremental costs due to war in Ukraine	0.09	-	0.09
Loss on debt extinguishment and related expenses	0.07	0.07	-
Initial impacts from enacted tax law changes	0.01	0.07	(0.06)
(Gain)/loss on equity method investment transactions	0.01	(0.26)	0.27
Equity method investee items	(0.01)	0.04	(0.05)
Adjusted EPS (Non-GAAP)	$ 1.50	$ 1.45	$ 0.05	3.4 %
Impact of unfavorable currency	0.12	-	0.12
Adjusted EPS @ Constant FX (Non-GAAP)	$ 1.62	$ 1.45	$ 0.17	11.7 %
Adjusted EPS @ Constant FX - Key Drivers
Increase in operations	$ 0.14
Impact from acquisitions	0.01
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	(0.01)
Change in shares outstanding	0.03
$ 0.17

WC - 21-18 EPS

GAAP to Non-GAAP Reconciliation
Diluted EPS to Adjusted EPS
(Unaudited)
3 Year
For the Twelve Months Ended December 31,	2019	2018	% Change	2020	2019	% Change	2021	2020	% Change	CAGR
Diluted EPS attributable to Mondelēz International (GAAP)	$ 2.69	$ 2.23	20.6%	$ 2.47	$ 2.69	(8.2)%	$ 3.04	$ 2.47	23.1%	10.9%
Simplify to Grow Program	0.24	0.32	0.20	0.24	0.17	0.20
Intangible asset impairments charges	0.03	0.03	0.08	0.03	0.02	0.08
Mark-to-market (gains)/losses from derivatives	(0.05)	(0.09)	(0.01)	(0.05)	(0.17)	(0.01)
Acquisition integration costs and contingent consideration revisions	-	-	-	-	(0.02)	-
Acquisition-related costs	-	0.01	0.01	-	0.01	0.01
Divestiture-related costs	-	-	-	-	0.01	-
Net earnings from divestitures	(0.08)	(0.08)	(0.07)	(0.08)	(0.02)	(0.07)
Net earnings from Venezuelan subsidiaries	-	-	-	-	-	-
(Gains)/losses on acquisition and divestitures, net	(0.03)	-	-	(0.03)	-	-
(Income)/costs associated with the JDEP coffee business transactions	-	-	0.20	-	-	0.20
Remeasurement of net monetary position	-	0.01	0.01	-	0.01	0.01
Impact of pension participation changes	(0.02)	0.22	0.01	(0.02)	0.02	0.01
Impact from resolution of tax matters	0.05	(0.01)	(0.02)	0.05	-	(0.02)
CEO transition renumeration	0.01	0.01	-	0.01	-	-
(Gain)/loss related to interest rate swaps	0.08	(0.01)	0.05	0.08	-	0.05
Loss on debt extinguishment and related expenses	-	0.07	0.10	-	0.07	0.10
Swiss tax reform net impacts	(0.53)	-	-	(0.53)	-	-
U.S. tax reform discrete net tax (benefit)/expense	-	0.01	-	-	-	-
Initial impacts from enacted tax law changes	0.01	0.01	0.02	0.01	0.07	0.02
(Gain)/loss on equity method investment transactions	0.01	(0.39)	(0.55)	0.01	(0.39)	(0.55)
Equity method investee acquisition-related and other adjustments	(0.01)	-	0.06	(0.01)	0.05	0.06
Adjusted EPS (Non-GAAP)	$ 2.40	$ 2.34	2.6%	$ 2.56	$ 2.40	6.7%	$ 2.87	$ 2.56	12.1%	7.0%
Impact of (fav)/unfav currency	0.14	-	0.04	-	(0.08)	-
Adjusted EPS @ Constant FX (Non-GAAP)	$ 2.54	$ 2.34	8.5%	$ 2.60	$ 2.40	8.3%	$ 2.79	$ 2.56	9.0%	8.6%