U.S. GAAP to Non-GAAP Reconciliations

In addition to reporting our U.S. GAAP operating results, we have historically reported non-GAAP financial information. Refer also to our Quarterly Reports on Form 10-Q and our Annual Report on Form 10-K for the periods presented for additional information on our GAAP to non-GAAP adjustments.

Schedule 1.a

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 March 31, 2021
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)

$ 1,283 $ (44 ) $ 218 $ 1,109 $ 212 19.1 % $ 7 $ (78 ) $ 7 $ 961 $ 0.68

Simplify to Grow Program

122 - - 122 31 - - - 91 0.07

Mark-to-market (gains)/losses from derivatives

(118 ) - (1 ) (117 ) (22 ) - - - (95 ) (0.07 )

Acquisition integration costs

1 - - 1 - - - - 1 -

Acquisition-related costs

7 - - 7 1 - - - 6 0.01

Gain on acquisition

(9 ) - - (9 ) (2 ) - - - (7 ) -

Remeasurement of net monetary position

5 - - 5 - - - - 5 -

Impact from pension participation changes

1 - (3 ) 4 1 - - - 3 -

Loss on debt extinguishment and related expenses

- - (137 ) 137 34 - - - 103 0.07

Loss on equity method investment transactions

- - - - - (7 ) - - 7 -

Equity method investee items

- - - - 1 - (16 ) - 15 0.01

Adjusted (Non-GAAP)

$ 1,292 $ (44 ) $ 77 $ 1,259 $ 256 20.3 % $ - $ (94 ) $ 7 $ 1,090 $ 0.77

Impact from enacted tax law changes

- - - - (4 ) - - - 4 -

Change in equity method investee items

- - - - - - (43 ) - 43 0.03

Adjusted (Non-GAAP) - As Recast

$ 1,292 $ (44 ) $ 77 $ 1,259 $ 252 20.0 % $ - $ (137 ) $ 7 $ 1,137 $ 0.80

Currency

(49 ) (0.03 )

Adjusted @ Constant FX (Non-GAAP) - As Recast

$ 1,088 $ 0.77

Diluted Average Shares Outstanding

1,422
For the Three Months Ended March 31, 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)

$ 856 $ (33 ) $ 190 $ 699 $ 148 21.2 % $ (71 ) $ (121 ) $ 7 $ 736 $ 0.51

Simplify to Grow Program

58 - - 58 13 - - - 45 0.03

Mark-to-market (gains)/losses from derivatives

185 - 1 184 32 - - - 152 0.11

Acquisition-related costs

5 - - 5 1 - - - 4 -

Net earnings from divestitures

- - - - (5 ) - 28 - (23 ) (0.01 )

Remeasurement of net monetary position

2 - - 2 - - - - 2 -

Impact from pension participation changes

- - (3 ) 3 1 - - - 2 -

Loss related to interest rate swaps

- - (103 ) 103 24 - - - 79 0.05

Gain on equity method investment transactions

- - - - (17 ) 71 - - (54 ) (0.04 )

Equity method investee items

- - - - 1 - (6 ) - 5 0.01

Adjusted (Non-GAAP)

$ 1,106 $ (33 ) $ 85 $ 1,054 $ 198 18.8 % $ - $ (99 ) $ 7 $ 948 $ 0.66

Impact from enacted tax law changes

- - - - - - - - - -

Change in equity method investee items

- - - - - - (10 ) - 10 -

Adjusted (Non-GAAP) - As Recast

$ 1,106 $ (33 ) $ 85 $ 1,054 $ 198 18.8 % $ - $ (109 ) $ 7 $ 958 $ 0.66

Diluted Average Shares Outstanding

1,445
(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.b

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 Twelve Months Ended December 31, 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)

$ 3,853 $ (138 ) $ 608 $ 3,383 $ 1,224 36.2 % $ (989 ) $ (421 ) $ 14 $ 3,555 $ 2.47

Simplify to Grow Program

360 (3 ) - 363 81 - - - 282 0.20

Intangible asset impairment charges

144 - - 144 33 - - - 111 0.08

Mark-to-market (gains)/losses from derivatives

(16 ) - 3 (19 ) (8 ) - - - (11 ) (0.01 )

Acquisition integration costs

4 - - 4 2 - - - 2 -

Acquisition-related costs

15 - - 15 - - - - 15 0.01

Divestiture-related costs

4 - - 4 - - - - 4 -

Net earnings from divestitures

- - - - (15 ) - 74 - (59 ) (0.04 )

Costs associated with JDE Peet's transaction

48 - - 48 (250 ) - - - 298 0.20

Remeasurement of net monetary position

9 - - 9 - - - - 9 0.01

Impact from pension participation changes

- - (11 ) 11 2 - - - 9 0.01

Impact from resolution of tax matters

(20 ) - 28 (48 ) (16 ) - - - (32 ) (0.02 )

Loss related to interest rate swaps

- - (103 ) 103 24 - - - 79 0.05

Loss on debt extinguishment and related expenses

- - (185 ) 185 46 - - - 139 0.10

Gain on equity method investment transactions

- - - - (202 ) 989 - - (787 ) (0.55 )

Equity method investee items

- - - - 7 - (81 ) - 74 0.05

Adjusted (Non-GAAP)

$ 4,401 $ (141 ) $ 340 $ 4,202 $ 928 22.1 % $ - $ (428 ) $ 14 $ 3,688 $ 2.56

Impact from enacted tax law changes

- - - - (36 ) - - - 36 0.02

Change in equity method investee items

- - - - - - (10 ) - 10 0.01

Adjusted (Non-GAAP) - As Recast

$ 4,401 $ (141 ) $ 340 $ 4,202 $ 892 21.2 % $ - $ (438 ) $ 14 $ 3,734 $ 2.59

Currency

50 0.04

Adjusted @ Constant FX (Non-GAAP) - As Recast

$ 3,784 $ 2.63

Diluted Average Shares Outstanding

1,441
For the Twelve Months Ended December 31, 2019
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)

$ 3,843 $ (60 ) $ 456 $ 3,447 $ 2 0.1 % $ 2 $ (501 ) $ 15 $ 3,929 $ 2.69

Simplify to Grow Program

442 (6 ) - 448 103 - - - 345 0.24

Intangible asset impairment charges

57 - - 57 14 - - - 43 0.03

Mark-to-market (gains)/losses from derivatives

(91 ) - (1 ) (90 ) (19 ) - - - (71 ) (0.05 )

Acquisition-related costs

3 - - 3 1 - - - 2 -

Divestiture-related costs

6 - - 6 - - - - 6 -

Net earnings from divestitures

(9 ) - - (9 ) (15 ) - 95 - (89 ) (0.06 )

Gain on divestitures

(44 ) - - (44 ) (3 ) - - - (41 ) (0.03 )

Remeasurement of net monetary position

(4 ) - - (4 ) - - - - (4 ) -

Impact from pension participation changes

(35 ) - (6 ) (29 ) (8 ) - - - (21 ) (0.02 )

Impact from resolution of tax matters

85 - - 85 21 - - - 64 0.05

CEO transition remuneration

9 - - 9 - - - - 9 0.01

Loss related to interest rate swaps

- - (111 ) 111 - - - - 111 0.08

Swiss tax reform net impacts

2 - - 2 769 - - - (767 ) (0.53 )

U.S. tax reform discrete net tax (benefit)/expense

- - - - (5 ) - - - 5 -

Loss on equity method investment transactions

- - - - (6 ) (2 ) - - 8 0.01

Equity method investee items

- - - - 6 - (37 ) - 31 0.02

Adjusted (Non-GAAP)

$ 4,264 $ (66 ) $ 338 $ 3,992 $ 860 21.5 % $ - $ (443 ) $ 15 $ 3,560 $ 2.44

Impact from enacted tax law changes

- - - - (10 ) - - - 10 0.01

Change in equity method investee items

- - - - - - 42 - (42 ) (0.03 )

Adjusted (Non-GAAP) - As Recast

$ 4,264 $ (66 ) $ 338 $ 3,992 $ 850 21.3 % $ - $ (401 ) $ 15 $ 3,528 $ 2.42

Diluted Average Shares Outstanding

1,458
(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.c

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 December 31, 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)

$ 1,149 $ (36 ) $ 244 $ 941 $ 344 36.6 % $ (452 ) $ (110 ) $ 3 $ 1,156 $ 0.80

Simplify to Grow Program

112 1 - 111 26 - - - 85 0.06

Mark-to-market (gains)/losses from derivatives

(58 ) - (1 ) (57 ) (13 ) - - - (44 ) (0.03 )

Acquisition integration costs

2 - - 2 2 - - - - -

Net earnings from divestitures

- - - - (3 ) - 13 - (10 ) -

Costs associated with JDE Peet's transaction

- - - - 11 - - - (11 ) (0.01 )

Remeasurement of net monetary position

2 - - 2 - - - - 2 -

Impact from pension participation changes

- - (2 ) 2 - - - - 2 -

Impact from resolution of tax matters

(20 ) - 28 (48 ) (16 ) - - - (32 ) (0.02 )

Loss on debt extinguishment and related expenses

- - (185 ) 185 46 - - - 139 0.10

Gain on equity method investment transactions

- - - - (108 ) 452 - - (344 ) (0.24 )

Equity method investee items

- - - - - - (15 ) - 15 0.01

Rounding

1 - - 1 - - - - 1 -

Adjusted (Non-GAAP)

$ 1,188 $ (35 ) $ 84 $ 1,139 $ 289 25.4 % $ - $ (112 ) $ 3 $ 959 $ 0.67

Impact from enacted tax law changes

- - - - (6 ) - - - 6 -

Change in equity method investee items

- - - - - - - - - -

Adjusted (Non-GAAP) - As Recast

$ 1,188 $ (35 ) $ 84 $ 1,139 $ 283 24.8 % $ - $ (112 ) $ 3 $ 965 $ 0.67

Currency

(25 ) (0.02 )

Adjusted @ Constant FX (Non-GAAP) - As Recast

$ 940 $ 0.65

Diluted Average Shares Outstanding

1,439
For the Three Months Ended December 31, 2019
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)

$ 906 $ (18 ) $ 70 $ 854 $ 230 26.9 % $ - $ (112 ) $ 3 $ 733 $ 0.50

Simplify to Grow Program

138 - - 138 36 - - - 102 0.07

Mark-to-market (gains)/losses from derivatives

(22 ) - 1 (23 ) (5 ) - - - (18 ) (0.01 )

Acquisition-related costs

1 - - 1 - - - - 1 -

Net earnings from divestitures

- - - - (4 ) - 23 - (19 ) (0.01 )

Remeasurement of net monetary position

(6 ) - - (6 ) - - - - (6 ) -

Impact from pension participation changes

- - (3 ) 3 1 - - - 2 -

Impact from resolution of tax matters

85 - - 85 21 - - - 64 0.04

U.S. tax reform discrete net tax (benefit)/expense

- - - - (3 ) - - - 3 -

Equity method investee items

- - - - 1 - (11 ) - 10 0.01

Rounding

(1 ) - - (1 ) - - - - (1 ) -

Adjusted (Non-GAAP)

$ 1,101 $ (18 ) $ 68 $ 1,051 $ 277 26.4 % $ - $ (100 ) $ 3 $ 871 $ 0.60

Impact from enacted tax law changes

- - - - 2 - - - (2 ) -

Change in equity method investee items

- - - - - - - - - -

Adjusted (Non-GAAP) - As Recast

$ 1,101 $ (18 ) $ 68 $ 1,051 $ 279 26.5 % $ - $ (100 ) $ 3 $ 869 $ 0.60

Diluted Average Shares Outstanding

1,453
(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.d

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 September 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)

$ 1,135 $ (38 ) $ 89 $ 1,084 $ 391 36.1 % $ (345 ) $ (84 ) $ 3 $ 1,119 $ 0.78

Simplify to Grow Program

114 - - 114 22 - - - 92 0.06

Intangible asset impairment charges

54 - - 54 12 - - - 42 0.03

Mark-to-market (gains)/losses from derivatives

(145 ) - 3 (148 ) (27 ) - - - (121 ) (0.08 )

Acquisition-related costs

- - - - (3 ) - - - 3 -

Divestiture-related costs

6 - - 6 - - - - 6 -

Net earnings from divestitures

- - - - (6 ) - 17 - (11 ) (0.01 )

Remeasurement of net monetary position

2 - - 2 - - - - 2 -

Impact from pension participation changes

- - (3 ) 3 1 - - - 2 -

Gain on equity method investment transactions

- - - - (77 ) 345 - - (268 ) (0.19 )

Equity method investee items

- - - - 2 - (37 ) - 35 0.03

Rounding

(1 ) - - (1 ) - - - - (1 ) -

Adjusted (Non-GAAP)

$ 1,165 $ (38 ) $ 89 $ 1,114 $ 315 28.3 % $ - $ (104 ) $ 3 $ 900 $ 0.62

Impact from enacted tax law changes

- - - - (30 ) - - - 30 0.02

Change in equity method investee items

- - - - - - - - - -

Adjusted (Non-GAAP) - As Recast

$ 1,165 $ (38 ) $ 89 $ 1,114 $ 285 25.6 % $ - $ (104 ) $ 3 $ 930 $ 0.64

Currency

4 0.01

Adjusted @ Constant FX (Non-GAAP) - As Recast

$ 934 $ 0.65

Diluted Average Shares Outstanding

1,442
For the Three Months Ended September 30, 2019
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)

$ 876 $ (13 ) $ 205 $ 684 $ (633 ) (92.5 )% $ - $ (114 ) $ 5 $ 1,426 $ 0.98

Simplify to Grow Program

151 (1 ) - 152 29 - - - 123 0.08

Intangible asset impairment charges

57 - - 57 14 - - - 43 0.03

Mark-to-market (gains)/losses from derivatives

(20 ) - (2 ) (18 ) (8 ) - - - (10 ) (0.01 )

Acquisition-related costs

1 - - 1 1 - - - - -

Divestiture-related costs

(4 ) - - (4 ) (1 ) - - - (3 ) -

Net earnings from divestitures

- - - - (4 ) - 23 - (19 ) (0.01 )

Gain on divestitures

(3 ) - - (3 ) 1 - - - (4 ) -

Remeasurement of net monetary position

1 - - 1 - - - - 1 -

Impact from pension participation changes

- - (3 ) 3 - - - - 3 -

CEO transition remuneration

3 - - 3 - - - - 3 -

Loss related to interest rate swaps

- - (111 ) 111 - - - - 111 0.08

Swiss tax reform net impacts

2 - - 2 769 - - - (767 ) (0.53 )

Equity method investee items

- - - - 1 - (7 ) - 6 0.01

Rounding

1 - - 1 - - - - 1 -

Adjusted (Non-GAAP)

$ 1,065 $ (14 ) $ 89 $ 990 $ 169 17.1 % $ - $ (98 ) $ 5 $ 914 $ 0.63

Impact from enacted tax law changes

- - - - (3 ) - - - 3 -

Change in equity method investee items

- - - - - - - - - -

Adjusted (Non-GAAP) - As Recast

$ 1,065 $ (14 ) $ 89 $ 990 $ 166 16.8 % $ - $ (98 ) $ 5 $ 917 $ 0.63

Diluted Average Shares Outstanding

1,458
(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.e

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, 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

Impact from enacted tax law changes

- - - - - - - - - -

Change in equity method investee items

- - - - - - - - - -

Adjusted (Non-GAAP) - As Recast

$ 942 $ (35 ) $ 82 $ 895 $ 126 14.1 % $ - $ (113 ) $ 1 $ 881 $ 0.61

Currency

27 0.02

Adjusted @ Constant FX (Non-GAAP) - As Recast

$ 908 $ 0.63

Diluted Average Shares Outstanding

1,439
For the Three Months Ended June 30, 2019
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)

$ 1,025 $ (12 ) $ 101 $ 936 $ 216 23.1 % $ 25 $ (109 ) $ 1 $ 803 $ 0.55

Simplify to Grow Program

83 (5 ) - 88 19 - - - 69 0.05

Mark-to-market (gains)/losses from derivatives

(33 ) - - (33 ) (3 ) - - - (30 ) (0.02 )

Acquisition-related costs

1 - - 1 - - - - 1 -

Divestiture-related costs

11 - - 11 1 - - - 10 0.01

Net earnings from divestitures

(5 ) - - (5 ) (4 ) - 21 - (22 ) (0.02 )

Gain on divestitures

(41 ) - - (41 ) (3 ) - - - (38 ) (0.03 )

Remeasurement of net monetary position

(1 ) - - (1 ) - - - - (1 ) -

Impact from pension participation changes

(35 ) - - (35 ) (9 ) - - - (26 ) (0.02 )

CEO transition remuneration

3 - - 3 - - - - 3 -

U.S. tax reform discrete net tax (benefit)/expense

- - - - (1 ) - - - 1 -

Loss on equity method investment transactions

- - - - (2 ) (25 ) - - 27 0.02

Equity method investee items

- - - - 1 - (8 ) - 7 0.01

Adjusted (Non-GAAP)

$ 1,008 $ (17 ) $ 101 $ 924 $ 215 23.3 % $ - $ (96 ) $ 1 $ 804 $ 0.55

Impact from enacted tax law changes

- - - - (9 ) - - - 9 0.01

Change in equity method investee items

- - - - - - 1 - (1 ) -

Adjusted (Non-GAAP) - As Recast

$ 1,008 $ (17 ) $ 101 $ 924 $ 206 22.3 % $ - $ (95 ) $ 1 $ 812 $ 0.56

Diluted Average Shares Outstanding

1,458
(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.f

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 March 31, 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)

$ 856 $ (33 ) $ 190 $ 699 $ 148 21.2 % $ (71 ) $ (121 ) $ 7 $ 736 $ 0.51

Simplify to Grow Program

58 - - 58 13 - - - 45 0.03

Mark-to-market (gains)/losses from derivatives

185 - 1 184 32 - - - 152 0.11

Acquisition-related costs

5 - - 5 1 - - - 4 -

Net earnings from divestitures

- - - - (5 ) - 28 - (23 ) (0.01 )

Remeasurement of net monetary position

2 - - 2 - - - - 2 -

Impact from pension participation changes

- - (3 ) 3 1 - - - 2 -

Loss related to interest rate swaps

- - (103 ) 103 24 - - - 79 0.05

Gain on equity method investment transactions

- - - - (17 ) 71 - - (54 ) (0.04 )

Equity method investee items

- - - - 1 - (6 ) - 5 0.01

Adjusted (Non-GAAP)

$ 1,106 $ (33 ) $ 85 $ 1,054 $ 198 18.8 % $ - $ (99 ) $ 7 $ 948 $ 0.66

Impact from enacted tax law changes

- - - - - - - - - -

Change in equity method investee items

- - - - - - (10 ) - 10 -

Adjusted (Non-GAAP) - As Recast

$ 1,106 $ (33 ) $ 85 $ 1,054 $ 198 18.8 % $ - $ (109 ) $ 7 $ 958 $ 0.66

Currency

44 0.03

Adjusted @ Constant FX (Non-GAAP) - As Recast

$ 1,002 $ 0.69

Diluted Average Shares Outstanding

1,445
For the Three Months Ended March 31, 2019
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)

$ 1,036 $ (17 ) $ 80 $ 973 $ 189 19.4 % $ (23 ) $ (166 ) $ 6 $ 967 $ 0.66

Simplify to Grow Program

70 - - 70 19 - - - 51 0.04

Mark-to-market (gains)/losses from derivatives

(16 ) - - (16 ) (3 ) - - - (13 ) (0.01 )

Divestiture-related costs

(1 ) - - (1 ) - - - - (1 ) -

Net earnings from divestitures

(4 ) - - (4 ) (3 ) - 28 - (29 ) (0.02 )

Remeasurement of net monetary position

2 - - 2 - - - - 2 -

CEO transition remuneration

3 - - 3 - - - - 3 -

U.S. tax reform discrete net tax (benefit)/expense

- - - - (1 ) - - - 1 -

Gain on equity method investment transactions

- - - - (5 ) 23 - - (18 ) (0.01 )

Equity method investee items

- - - - 3 - (11 ) - 8 -

Adjusted (Non-GAAP)

$ 1,090 $ (17 ) $ 80 $ 1,027 $ 199 19.4 % $ - $ (149 ) $ 6 $ 971 $ 0.66

Impact from enacted tax law changes

- - - - - - - - - -

Change in equity method investee items

- - - - - - 41 - (41 ) (0.02 )

Adjusted (Non-GAAP) - As Recast

$ 1,090 $ (17 ) $ 80 $ 1,027 $ 199 19.4 % $ - $ (108 ) $ 6 $ 930 $ 0.64

Diluted Average Shares Outstanding

1,461
(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.g

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 Twelve Months Ended December 31, 2019
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)

$ 3,843 $ (60 ) $ 456 $ 3,447 $ 2 0.1 % $ 2 $ (501 ) $ 15 $ 3,929 $ 2.69

Simplify to Grow Program

442 (6 ) - 448 103 - - - 345 0.24

Intangible asset impairment charges

57 - - 57 14 - - - 43 0.03

Mark-to-market (gains)/losses from derivatives

(91 ) - (1 ) (90 ) (19 ) - - - (71 ) (0.05 )

Acquisition-related costs

3 - - 3 1 - - - 2 -

Divestiture-related costs

6 - - 6 - - - - 6 -

Net earnings from divestitures

(9 ) - - (9 ) (15 ) - 95 - (89 ) (0.06 )

Gain on divestitures

(44 ) - - (44 ) (3 ) - - - (41 ) (0.03 )

Remeasurement of net monetary position

(4 ) - - (4 ) - - - - (4 ) -

Impact from pension participation changes

(35 ) - (6 ) (29 ) (8 ) - - - (21 ) (0.02 )

Impact from resolution of tax matters

85 - - 85 21 - - - 64 0.05

CEO transition remuneration

9 - - 9 - - - - 9 0.01

Loss related to interest rate swaps

- - (111 ) 111 - - - - 111 0.08

Swiss tax reform net impacts

2 - - 2 769 - - - (767 ) (0.53 )

U.S. tax reform discrete net tax (benefit)/expense

- - - - (5 ) - - - 5 -

Loss on equity method investment transactions

- - - - (6 ) (2 ) - - 8 0.01

Equity method investee items

- - - - 6 - (37 ) - 31 0.02

Adjusted (Non-GAAP)

$ 4,264 $ (66 ) $ 338 $ 3,992 $ 860 21.5 % $ - $ (443 ) $ 15 $ 3,560 $ 2.44

Impact from enacted tax law changes

- - - - (10 ) - - - 10 0.01

Change in equity method investee items

- - - - - - 42 - (42 ) (0.03 )

Adjusted (Non-GAAP) - As Recast

$ 4,264 $ (66 ) $ 338 $ 3,992 $ 850 21.3 % $ - $ (401 ) $ 15 $ 3,528 $ 2.42

Currency

216 0.15

Adjusted @ Constant FX (Non-GAAP) - As Recast

$ 3,744 $ 2.57

Diluted Average Shares Outstanding

1,458
For the Twelve Months Ended December 31, 2018
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)

$ 3,312 $ (50 ) $ 520 $ 2,842 $ 773 27.2 % $ (778 ) $ (484 ) $ 14 $ 3,317 $ 2.23

Simplify to Grow Program

626 (5 ) - 631 156 - - - 475 0.32

Intangible asset impairment charges

68 - - 68 16 - - - 52 0.03

Mark-to-market (gains)/losses from derivatives

(141 ) - 1 (142 ) (10 ) - - - (132 ) (0.09 )

Acquisition integration costs

3 - - 3 - - - - 3 -

Acquisition-related costs

13 - - 13 3 - - - 10 0.01

Divestiture-related costs

(1 ) - - (1 ) (2 ) - - - 1 -

Net earnings from divestitures

(19 ) - - (19 ) (19 ) - 103 - (103 ) (0.07 )

Remeasurement of net monetary position

11 - - 11 - - - - 11 0.01

Impact from pension participation changes

423 - (6 ) 429 108 - - - 321 0.22

Impact from resolution of tax matters

(15 ) - (4 ) (11 ) 6 - - - (17 ) (0.01 )

CEO transition remuneration

22 - - 22 5 - - - 17 0.01

Gain related to interest rate swaps

- - 10 (10 ) (2 ) - - - (8 ) (0.01 )

Loss on debt extinguishment and related expenses

- - (140 ) 140 35 - - - 105 0.07

U.S. tax reform discrete net tax (benefit)/expense

- - - - (19 ) - - - 19 0.01

Gain on equity method investment transactions

- - - - (192 ) 778 - - (586 ) (0.39 )

Equity method investee items

- - - - (10 ) - 17 - (7 ) -

Adjusted (Non-GAAP)

$ 4,302 $ (55 ) $ 381 $ 3,976 $ 848 21.3 % $ - $ (364 ) $ 14 $ 3,478 $ 2.34

Impact from enacted tax law changes

- - - - (14 ) - - - 14 0.01

Change in equity method investee items

- - - - - - (6 ) - 6 -

Adjusted (Non-GAAP) - As Recast

$ 4,302 $ (55 ) $ 381 $ 3,976 $ 834 21.0 % $ - $ (370 ) $ 14 $ 3,498 $ 2.35

Diluted Average Shares Outstanding

1,486
(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 2.a

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Diluted EPS

(Unaudited)

For the Three Months Ended
March 31,
2021 2020 $ Change % Change

Diluted EPS attributable to Mondelēz International (GAAP)

$ 0.68 $ 0.51 $ 0.17 33.3 %

Simplify to Grow Program

0.07 0.03 0.04

Mark-to-market (gains)/losses from derivatives

(0.07 ) 0.11 (0.18 )

Acquisition-related costs

0.01 - 0.01

Net earnings from divestitures

- (0.01 ) 0.01

Loss related to interest rate swaps

- 0.05 (0.05 )

Loss on debt extinguishment and related expenses

0.07 - 0.07

Gain on equity method investment transactions

- (0.04 ) 0.04

Equity method investee items

0.01 0.01 -

Adjusted EPS (Non-GAAP)

$ 0.77 $ 0.66 $ 0.11 16.7 %

Impact from enacted tax law changes

- - -

Change in equity method investee items

0.03 - 0.03

Adjusted EPS (Non-GAAP) - As Recast

$ 0.80 $ 0.66 $ 0.14 21.2 %

Impact of favorable currency

(0.03 ) - (0.03 )

Adjusted EPS @ Constant FX (Non-GAAP) - As Recast

$ 0.77 $ 0.66 $ 0.11 16.7 %

Schedule 2.b

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Diluted EPS

(Unaudited)

For the Twelve Months Ended
December 31,
2020 2019 $ Change % Change

Diluted EPS attributable to Mondelēz International (GAAP)

$ 2.47 $ 2.69 $ (0.22 ) (8.2 )%

Simplify to Grow Program

0.20 0.24 (0.04 )

Intangible asset impairment charges

0.08 0.03 0.05

Mark-to-market (gains)/losses from derivatives

(0.01 ) (0.05 ) 0.04

Acquisition-related costs

0.01 - 0.01

Net earnings from divestitures

(0.04 ) (0.06 ) 0.02

Gain on divestitures

- (0.03 ) 0.03

Costs associated with JDE Peet's transaction

0.20 - 0.20

Remeasurement of net monetary position

0.01 - 0.01

Impact from pension participation changes

0.01 (0.02 ) 0.03

Impact from resolution of tax matters

(0.02 ) 0.05 (0.07 )

CEO transition remuneration

- 0.01 (0.01 )

Loss related to interest rate swaps

0.05 0.08 (0.03 )

Loss on debt extinguishment and related expenses

0.10 - 0.10

Swiss tax reform net impacts

- (0.53 ) 0.53

(Gain)/loss on equity method investment transactions

(0.55 ) 0.01 (0.56 )

Equity method investee items

0.05 0.02 0.03

Adjusted EPS (Non-GAAP)

$ 2.56 $ 2.44 $ 0.12 4.9 %

Impact from enacted tax law changes

0.02 0.01 0.01

Change in equity method investee items

0.01 (0.03 ) 0.04

Adjusted EPS (Non-GAAP) - As Recast

$ 2.59 $ 2.42 $ 0.17 7.0 %

Impact of unfavorable currency

0.04 - 0.04

Adjusted EPS @ Constant FX (Non-GAAP) - As Recast

$ 2.63 $ 2.42 $ 0.21 8.7 %

Schedule 2.c

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Diluted EPS

(Unaudited)

For the Three Months Ended
December 31,
2020 2019 $ Change % Change

Diluted EPS attributable to Mondelēz International (GAAP)

$ 0.80 $ 0.50 $ 0.30 60.0 %

Simplify to Grow Program

0.06 0.07 (0.01 )

Mark-to-market (gains)/losses from derivatives

(0.03 ) (0.01 ) (0.02 )

Net earnings from divestitures

- (0.01 ) 0.01

Costs associated with JDE Peet's transaction

(0.01 ) - (0.01 )

Impact from resolution of tax matters

(0.02 ) 0.04 (0.06 )

Loss on debt extinguishment and related expenses

0.10 - 0.10

Gain on equity method investment transactions

(0.24 ) - (0.24 )

Equity method investee items

0.01 0.01 -

Adjusted EPS (Non-GAAP)

$ 0.67 $ 0.60 $ 0.07 11.7 %

Impact from enacted tax law changes

- - -

Change in equity method investee items

- - -

Adjusted EPS (Non-GAAP) - As Recast

$ 0.67 $ 0.60 $ 0.07 11.7 %

Impact of favorable currency

(0.02 ) - (0.02 )

Adjusted EPS @ Constant FX (Non-GAAP) - As Recast

$ 0.65 $ 0.60 $ 0.05 8.3 %

Schedule 2.d

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Diluted EPS

(Unaudited)

For the Three Months Ended
September 30,
2020 2019 $ Change % Change

Diluted EPS attributable to Mondelēz International (GAAP)

$ 0.78 $ 0.98 $ (0.20 ) (20.4 )%

Simplify to Grow Program

0.06 0.08 (0.02 )

Intangible asset impairment charges

0.03 0.03 -

Mark-to-market (gains)/losses from derivatives

(0.08 ) (0.01 ) (0.07 )

Net earnings from divestitures

(0.01 ) (0.01 ) -

Loss related to interest rate swaps

- 0.08 (0.08 )

Swiss tax reform net impacts

- (0.53 ) 0.53

Gain on equity method investment transactions

(0.19 ) - (0.19 )

Equity method investee items

0.03 0.01 0.02

Adjusted EPS (Non-GAAP)

$ 0.62 $ 0.63 $ (0.01 ) (1.6 )%

Impact from enacted tax law changes

0.02 - 0.02

Change in equity method investee items

- - -

Adjusted EPS (Non-GAAP) - As Recast

$ 0.64 $ 0.63 $ 0.01 1.6 %

Impact of unfavorable currency

0.01 - 0.01

Adjusted EPS @ Constant FX (Non-GAAP) - As Recast

$ 0.65 $ 0.63 $ 0.02 3.2 %

Schedule 2.e

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Diluted EPS

(Unaudited)

For the Three Months Ended
June 30,
2020 2019 $ Change % Change

Diluted EPS attributable to Mondelēz International (GAAP)

$ 0.38 $ 0.55 $ (0.17 ) (30.9 )%

Simplify to Grow Program

0.04 0.05 (0.01 )

Intangible asset impairment charges

0.05 - 0.05

Mark-to-market (gains)/losses from derivatives

- (0.02 ) 0.02

Acquisition-related costs

0.01 - 0.01

Divestiture-related costs

- 0.01 (0.01 )

Net earnings from divestitures

(0.01 ) (0.02 ) 0.01

Gain on divestitures

- (0.03 ) 0.03

Costs associated with JDE Peet's transaction

0.21 - 0.21

Impact from pension participation changes

- (0.02 ) 0.02

(Gain)/loss on equity method investment transactions

(0.08 ) 0.02 (0.10 )

Equity method investee items

0.01 0.01 -

Adjusted EPS (Non-GAAP)

$ 0.61 $ 0.55 $ 0.06 10.9 %

Impact from enacted tax law changes

- 0.01 (0.01 )

Change in equity method investee items

- - -

Adjusted EPS (Non-GAAP) - As Recast

$ 0.61 $ 0.56 $ 0.05 8.9 %

Impact of unfavorable currency

0.02 - 0.02

Adjusted EPS @ Constant FX (Non-GAAP) - As Recast

$ 0.63 $ 0.56 $ 0.07 12.5 %

Schedule 2.f

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Diluted EPS

(Unaudited)

For the Three Months Ended
March 31,
2020 2019 $ Change % Change

Diluted EPS attributable to Mondelēz International (GAAP)

$ 0.51 $ 0.66 $ (0.15 ) (22.7 )%

Simplify to Grow Program

0.03 0.04 (0.01 )

Mark-to-market (gains)/losses from derivatives

0.11 (0.01 ) 0.12

Net earnings from divestitures

(0.01 ) (0.02 ) 0.01

Loss related to interest rate swaps

0.05 - 0.05

Gain on equity method investment transactions

(0.04 ) (0.01 ) (0.03 )

Equity method investee items

0.01 - 0.01

Adjusted EPS (Non-GAAP)

$ 0.66 $ 0.66 $ - 0.0 %

Impact from enacted tax law changes

- - -

Change in equity method investee items

- (0.02 ) 0.02

Adjusted EPS (Non-GAAP) - As Recast

$ 0.66 $ 0.64 $ 0.02 3.1 %

Impact of unfavorable currency

0.03 - 0.03

Adjusted EPS @ Constant FX (Non-GAAP) - As Recast

$ 0.69 $ 0.64 $ 0.05 7.8 %

Schedule 2.g

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Diluted EPS

(Unaudited)

For the Twelve Months Ended
December 31,
2019 2018 $ Change % Change

Diluted EPS attributable to Mondelēz International (GAAP)

$ 2.69 $ 2.23 $ 0.46 20.6 %

Simplify to Grow Program

0.24 0.32 (0.08 )

Intangible asset impairment charges

0.03 0.03 -

Mark-to-market (gains)/losses from derivatives

(0.05 ) (0.09 ) 0.04

Acquisition-related costs

- 0.01 (0.01 )

Net earnings from divestitures

(0.06 ) (0.07 ) 0.01

Gain on divestitures

(0.03 ) - (0.03 )

Remeasurement of net monetary position

- 0.01 (0.01 )

Impact from pension participation changes

(0.02 ) 0.22 (0.24 )

Impact from resolution of tax matters

0.05 (0.01 ) 0.06

CEO transition remuneration

0.01 0.01 -

(Gain)/loss related to interest rate swaps

0.08 (0.01 ) 0.09

Loss on debt extinguishment and related expenses

- 0.07 (0.07 )

Swiss tax reform net impacts

(0.53 ) - (0.53 )

U.S. tax reform discrete net tax (benefit)/expense

- 0.01 (0.01 )

(Gain)/loss on equity method investment transactions

0.01 (0.39 ) 0.40

Equity method investee items

0.02 - 0.02

Adjusted EPS (Non-GAAP)

$ 2.44 $ 2.34 $ 0.10 4.3 %

Impact from enacted tax law changes

0.01 0.01 -

Change in equity method investee items

(0.03 ) - (0.03 )

Adjusted EPS (Non-GAAP) - As Recast

$ 2.42 $ 2.35 $ 0.07 3.0 %

Impact of unfavorable currency

0.15 - 0.15

Adjusted EPS @ Constant FX (Non-GAAP) - As Recast

$ 2.57 $ 2.35 $ 0.22 9.4 %

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Mondelez International Inc. published this content on 13 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 July 2021 20:16:03 UTC.