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Segment Reporting (Tables) | 9 Months Ended
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Sep. 30, 2014
Net Revenues by Segment | Our segment net revenues and earnings were:
|  | For the Three Months Ended September 30, |  |  | For the Nine Months Ended September 30, |
|  | 2014 |  |  | 2013 |  |  | 2014 |  |  | 2013 |
|  | (in millions) |
Net revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Latin America |  | $ | 1,315 |  |  | $ | 1,308 |  |  | $ | 3,913 |  |  | $ | 4,045 |
Asia Pacific |  |  | 1,153 |  |  |  | 1,136 |  |  |  | 3,460 |  |  |  | 3,743 |
EEMEA |  |  | 894 |  |  |  | 948 |  |  |  | 2,740 |  |  |  | 2,850 |
Europe |  |  | 3,215 |  |  |  | 3,295 |  |  |  | 10,151 |  |  |  | 10,026 |
North America |  |  | 1,760 |  |  |  | 1,785 |  |  |  | 5,150 |  |  |  | 5,147 |
Net revenues |  | $ | 8,337 |  |  | $ | 8,472 |  |  | $ | 25,414 |  |  | $ | 25,811 |
Reconciliation of Operating Profit (Loss) from Segments to Consolidated |
|  | For the Three Months Ended September 30, |  |  | For the Nine Months Ended September 30, |
|  | 2014 |  |  | 2013 |  |  | 2014 |  |  | 2013 |
|  | (in millions) |
Net revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Latin America |  | $ | 1,315 |  |  | $ | 1,308 |  |  | $ | 3,913 |  |  | $ | 4,045 |
Asia Pacific |  |  | 1,153 |  |  |  | 1,136 |  |  |  | 3,460 |  |  |  | 3,743 |
EEMEA |  |  | 894 |  |  |  | 948 |  |  |  | 2,740 |  |  |  | 2,850 |
Europe |  |  | 3,215 |  |  |  | 3,295 |  |  |  | 10,151 |  |  |  | 10,026 |
North America |  |  | 1,760 |  |  |  | 1,785 |  |  |  | 5,150 |  |  |  | 5,147 |
Net revenues |  | $ | 8,337 |  |  | $ | 8,472 |  |  | $ | 25,414 |  |  | $ | 25,811 |
Earnings before income taxes: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Latin America |  | $ | 120 |  |  | $ | 171 |  |  | $ | 304 |  |  | $ | 425 |
Asia Pacific |  |  | 65 |  |  |  | 81 |  |  |  | 364 |  |  |  | 399 |
EEMEA |  |  | 93 |  |  |  | 109 |  |  |  | 303 |  |  |  | 282 |
Europe |  |  | 368 |  |  |  | 403 |  |  |  | 1,294 |  |  |  | 1,178 |
North America |  |  | 272 |  |  |  | 279 |  |  |  | 744 |  |  |  | 643 |
Unrealized gains / (losses) on hedging activities |  |  | 39 |  |  |  | 12 |  |  |  | (8 | ) |  |  | 55 |
General corporate expenses |  |  | (56 | ) |  |  | (74 | ) |  |  | (191 | ) |  |  | (219 | )
Amortization of intangibles |  |  | (48 | ) |  |  | (55 | ) |  |  | (157 | ) |  |  | (164 | )
Benefit from indemnification resolution |  |  | – |  |  |  | 336 |  |  |  | – |  |  |  | 336 |
Gains on acquisition and divestitures, net |  |  | – |  |  |  | – |  |  |  | – |  |  |  | 28 |
Acquisition-related costs |  |  | – |  |  |  | – |  |  |  | – |  |  |  | (2 | )
Operating income |  |  | 853 |  |  |  | 1,262 |  |  |  | 2,653 |  |  |  | 2,961 |
Interest and other (expense) / income |  |  | 227 |  |  |  | (218 | ) |  |  | (717 | ) |  |  | (732 | )
Earnings before income taxes |  | $ | 1,080 |  |  | $ | 1,044 |  |  | $ | 1,936 |  |  | $ | 2,229 |
Net Revenues by Consumer Sector | Net revenues by consumer sector were:
|  | For the Three Months Ended September 30, 2014 |
|  | Latin |  |  | Asia |  |  |  |  |  |  |  |  | North |  |  |  |
| America |  |  | Pacific |  |  | EEMEA |  |  | Europe |  |  | America |  |  | Total |
|  | (in millions) |
Biscuits |  | $ | 338 |  |  | $ | 294 |  |  | $ | 165 |  |  | $ | 724 |  |  | $ | 1,367 |  |  | $ | 2,888 |
Chocolate |  |  | 253 |  |  |  | 408 |  |  |  | 287 |  |  |  | 1,214 |  |  |  | 75 |  |  |  | 2,237 |
Gum & Candy |  |  | 314 |  |  |  | 190 |  |  |  | 151 |  |  |  | 217 |  |  |  | 304 |  |  |  | 1,176 |
Beverages |  |  | 232 |  |  |  | 100 |  |  |  | 227 |  |  |  | 723 |  |  |  | – |  |  |  | 1,282 |
Cheese & Grocery |  |  | 178 |  |  |  | 161 |  |  |  | 64 |  |  |  | 337 |  |  |  | 14 |  |  |  | 754 |
Total net revenues |  | $ | 1,315 |  |  | $ | 1,153 |  |  | $ | 894 |  |  | $ | 3,215 |  |  | $ | 1,760 |  |  | $ | 8,337 |
|  | For the Three Months Ended September 30, 2013 |
|  | Latin |  |  | Asia |  |  |  |  |  |  |  |  | North |  |  |  |
| America |  |  | Pacific |  |  | EEMEA |  |  | Europe |  |  | America |  |  | Total |
|  | (in millions) |
Biscuits |  | $ | 329 |  |  | $ | 285 |  |  | $ | 165 |  |  | $ | 750 |  |  | $ | 1,369 |  |  | $ | 2,898 |
Chocolate |  |  | 253 |  |  |  | 378 |  |  |  | 294 |  |  |  | 1,224 |  |  |  | 83 |  |  |  | 2,232 |
Gum & Candy |  |  | 353 |  |  |  | 209 |  |  |  | 160 |  |  |  | 227 |  |  |  | 312 |  |  |  | 1,261 |
Beverages |  |  | 211 |  |  |  | 99 |  |  |  | 260 |  |  |  | 759 |  |  |  | – |  |  |  | 1,329 |
Cheese & Grocery |  |  | 162 |  |  |  | 165 |  |  |  | 69 |  |  |  | 335 |  |  |  | 21 |  |  |  | 752 |
Total net revenues |  | $ | 1,308 |  |  | $ | 1,136 |  |  | $ | 948 |  |  | $ | 3,295 |  |  | $ | 1,785 |  |  | $ | 8,472 |
|  | For the Nine Months Ended September 30, 2014 |
|  | Latin |  |  | Asia |  |  |  |  |  |  |  |  | North |  |  |  |
| America |  |  | Pacific |  |  | EEMEA |  |  | Europe |  |  | America |  |  | Total |
|  | (in millions) |
Biscuits |  | $ | 998 |  |  | $ | 898 |  |  | $ | 483 |  |  | $ | 2,269 |  |  | $ | 4,078 |  |  | $ | 8,726 |
Chocolate |  |  | 833 |  |  |  | 1,155 |  |  |  | 751 |  |  |  | 3,804 |  |  |  | 188 |  |  |  | 6,731 |
Gum & Candy |  |  | 893 |  |  |  | 584 |  |  |  | 498 |  |  |  | 678 |  |  |  | 842 |  |  |  | 3,495 |
Beverages |  |  | 684 |  |  |  | 359 |  |  |  | 782 |  |  |  | 2,348 |  |  |  | – |  |  |  | 4,173 |
Cheese & Grocery |  |  | 505 |  |  |  | 464 |  |  |  | 226 |  |  |  | 1,052 |  |  |  | 42 |  |  |  | 2,289 |
Total net revenues |  | $ | 3,913 |  |  | $ | 3,460 |  |  | $ | 2,740 |  |  | $ | 10,151 |  |  | $ | 5,150 |  |  | $ | 25,414 |
|  | For the Nine Months Ended September 30, 2013 |
|  | Latin |  |  | Asia |  |  |  |  |  |  |  |  | North |  |  |  |
| America |  |  | Pacific |  |  | EEMEA |  |  | Europe |  |  | America |  |  | Total |
|  | (in millions) |
Biscuits |  | $ | 953 |  |  | $ | 1,028 |  |  | $ | 490 |  |  | $ | 2,231 |  |  | $ | 4,011 |  |  | $ | 8,713 |
Chocolate |  |  | 901 |  |  |  | 1,190 |  |  |  | 806 |  |  |  | 3,680 |  |  |  | 214 |  |  |  | 6,791 |
Gum & Candy |  |  | 1,049 |  |  |  | 638 |  |  |  | 505 |  |  |  | 702 |  |  |  | 868 |  |  |  | 3,762 |
Beverages |  |  | 666 |  |  |  | 371 |  |  |  | 849 |  |  |  | 2,399 |  |  |  | – |  |  |  | 4,285 |
Cheese & Grocery |  |  | 476 |  |  |  | 516 |  |  |  | 200 |  |  |  | 1,014 |  |  |  | 54 |  |  |  | 2,260 |
Total net revenues |  | $ | 4,045 |  |  | $ | 3,743 |  |  | $ | 2,850 |  |  | $ | 10,026 |  |  | $ | 5,147 |  |  | $ | 25,811 |

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