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Segment Reporting (Tables) | 6 Months Ended
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Jun. 30, 2014
Net Revenues by Segment | Our segment net revenues and earnings were:
|  | For the Three Months Ended June 30, |  |  | For the Six Months Ended June 30, |
|  | 2014 |  |  | 2013 |  |  | 2014 |  |  | 2013 |
|  | (in millions) |
Net revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Latin America |  | $ | 1,242 |  |  | $ | 1,339 |  |  | $ | 2,598 |  |  | $ | 2,737 |
Asia Pacific |  |  | 1,084 |  |  |  | 1,240 |  |  |  | 2,307 |  |  |  | 2,607 |
EEMEA |  |  | 1,008 |  |  |  | 1,039 |  |  |  | 1,846 |  |  |  | 1,902 |
Europe |  |  | 3,379 |  |  |  | 3,273 |  |  |  | 6,936 |  |  |  | 6,731 |
North America |  |  | 1,723 |  |  |  | 1,704 |  |  |  | 3,390 |  |  |  | 3,362 |
Net revenues |  | $ | 8,436 |  |  | $ | 8,595 |  |  | $ | 17,077 |  |  | $ | 17,339 |
Reconciliation of Operating Profit (Loss) from Segments to Consolidated |
Earnings before income taxes: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Latin America |  | $ | 140 |  |  | $ | 162 |  |  | $ | 184 |  |  | $ | 254 |
Asia Pacific |  |  | 111 |  |  |  | 129 |  |  |  | 299 |  |  |  | 318 |
EEMEA |  |  | 146 |  |  |  | 112 |  |  |  | 210 |  |  |  | 173 |
Europe |  |  | 463 |  |  |  | 369 |  |  |  | 926 |  |  |  | 775 |
North America |  |  | 269 |  |  |  | 194 |  |  |  | 472 |  |  |  | 364 |
Unrealized gains / (losses) on hedging activities |  |  | (54 | ) |  |  | 24 |  |  |  | (47 | ) |  |  | 43 |
General corporate expenses |  |  | (63 | ) |  |  | (76 | ) |  |  | (135 | ) |  |  | (145 | )
Amortization of intangibles |  |  | (55 | ) |  |  | (55 | ) |  |  | (109 | ) |  |  | (109 | )
Gains on acquisition and divestitures, net |  |  | – |  |  |  | 6 |  |  |  | – |  |  |  | 28 |
Acquisition-related costs |  |  | – |  |  |  | – |  |  |  | – |  |  |  | (2 | )
Operating income |  |  | 957 |  |  |  | 865 |  |  |  | 1,800 |  |  |  | 1,699 |
Interest and other expense, net |  |  | (224 | ) |  |  | (235 | ) |  |  | (944 | ) |  |  | (514 | )
Earnings before income taxes |  | $ | 733 |  |  | $ | 630 |  |  | $ | 856 |  |  | $ | 1,185 |
Net Revenues by Consumer Sector | Net revenues by consumer sector were:
|  | For the Three Months Ended June 30, 2014 |
|  | Latin |  |  | Asia |  |  |  |  |  |  |  |  | North |  |  |  |
| America |  |  | Pacific |  |  | EEMEA |  |  | Europe |  |  | America |  |  | Total |
|  | (in millions) |
Biscuits |  | $ | 333 |  |  | $ | 273 |  |  | $ | 171 |  |  | $ | 809 |  |  | $ | 1,384 |  |  | $ | 2,970 |
Chocolate |  |  | 256 |  |  |  | 329 |  |  |  | 221 |  |  |  | 1,113 |  |  |  | 50 |  |  |  | 1,969 |
Gum & Candy |  |  | 293 |  |  |  | 188 |  |  |  | 200 |  |  |  | 238 |  |  |  | 275 |  |  |  | 1,194 |
Beverages |  |  | 197 |  |  |  | 137 |  |  |  | 327 |  |  |  | 848 |  |  |  | – |  |  |  | 1,509 |
Cheese & Grocery |  |  | 163 |  |  |  | 157 |  |  |  | 89 |  |  |  | 371 |  |  |  | 14 |  |  |  | 794 |
Total net revenues |  | $ | 1,242 |  |  | $ | 1,084 |  |  | $ | 1,008 |  |  | $ | 3,379 |  |  | $ | 1,723 |  |  | $ | 8,436 |
|  | For the Three Months Ended June 30, 2013 |
|  | Latin |  |  | Asia |  |  |  |  |  |  |  |  | North |  |  |  |
| America |  |  | Pacific |  |  | EEMEA |  |  | Europe |  |  | America |  |  | Total |
|  | (in millions) |
Biscuits |  | $ | 334 |  |  | $ | 355 |  |  | $ | 174 |  |  | $ | 780 |  |  | $ | 1,349 |  |  | $ | 2,992 |
Chocolate |  |  | 270 |  |  |  | 363 |  |  |  | 240 |  |  |  | 1,062 |  |  |  | 58 |  |  |  | 1,993 |
Gum & Candy |  |  | 363 |  |  |  | 207 |  |  |  | 190 |  |  |  | 246 |  |  |  | 278 |  |  |  | 1,284 |
Beverages |  |  | 212 |  |  |  | 145 |  |  |  | 353 |  |  |  | 835 |  |  |  | – |  |  |  | 1,545 |
Cheese & Grocery |  |  | 160 |  |  |  | 170 |  |  |  | 82 |  |  |  | 350 |  |  |  | 19 |  |  |  | 781 |
Total net revenues |  | $ | 1,339 |  |  | $ | 1,240 |  |  | $ | 1,039 |  |  | $ | 3,273 |  |  | $ | 1,704 |  |  | $ | 8,595 |
|  | For the Six Months Ended June 30, 2014 |
|  | Latin |  |  | Asia |  |  |  |  |  |  |  |  | North |  |  |  |
| America |  |  | Pacific |  |  | EEMEA |  |  | Europe |  |  | America |  |  | Total |
|  | (in millions) |
Biscuits |  | $ | 660 |  |  | $ | 604 |  |  | $ | 318 |  |  | $ | 1,545 |  |  | $ | 2,711 |  |  | $ | 5,838 |
Chocolate |  |  | 580 |  |  |  | 747 |  |  |  | 464 |  |  |  | 2,590 |  |  |  | 113 |  |  |  | 4,494 |
Gum & Candy |  |  | 579 |  |  |  | 394 |  |  |  | 347 |  |  |  | 461 |  |  |  | 538 |  |  |  | 2,319 |
Beverages |  |  | 452 |  |  |  | 259 |  |  |  | 555 |  |  |  | 1,625 |  |  |  | – |  |  |  | 2,891 |
Cheese & Grocery |  |  | 327 |  |  |  | 303 |  |  |  | 162 |  |  |  | 715 |  |  |  | 28 |  |  |  | 1,535 |
Total net revenues |  | $ | 2,598 |  |  | $ | 2,307 |  |  | $ | 1,846 |  |  | $ | 6,936 |  |  | $ | 3,390 |  |  | $ | 17,077 |
|  | For the Six Months Ended June 30, 2013 |
|  | Latin |  |  | Asia |  |  |  |  |  |  |  |  | North |  |  |  |
| America |  |  | Pacific |  |  | EEMEA |  |  | Europe |  |  | America |  |  | Total |
|  | (in millions) |
Biscuits |  | $ | 624 |  |  | $ | 743 |  |  | $ | 325 |  |  | $ | 1,481 |  |  | $ | 2,642 |  |  | $ | 5,815 |
Chocolate |  |  | 648 |  |  |  | 812 |  |  |  | 512 |  |  |  | 2,456 |  |  |  | 131 |  |  |  | 4,559 |
Gum & Candy |  |  | 696 |  |  |  | 429 |  |  |  | 345 |  |  |  | 475 |  |  |  | 556 |  |  |  | 2,501 |
Beverages |  |  | 455 |  |  |  | 272 |  |  |  | 589 |  |  |  | 1,640 |  |  |  | – |  |  |  | 2,956 |
Cheese & Grocery |  |  | 314 |  |  |  | 351 |  |  |  | 131 |  |  |  | 679 |  |  |  | 33 |  |  |  | 1,508 |
Total net revenues |  | $ | 2,737 |  |  | $ | 2,607 |  |  | $ | 1,902 |  |  | $ | 6,731 |  |  | $ | 3,362 |  |  | $ | 17,339 |

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