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Quarterly Financial Data (Unaudited) (Tables)
 12 Months Ended
Dec. 31, 2014
Summary of Operating Results

Our summarized operating results by quarter are detailed below.

 

     2014 Quarters  
     First      Second      Third      Fourth  
     (in millions, except per share data)  

Net revenues

    $ 8,641       $ 8,436       $ 8,337       $ 8,830   

Gross profit

      3,204         3,105         3,142         3,146   

(Benefit) / provision for income taxes (1)

      (27 )       91         178         111   

Net earnings

    $ 150       $ 642       $ 902       $ 507   

Noncontrolling interest

      (13 )       20         3         7   
  

 

 

     

 

 

     

 

 

     

 

 

  

Net earnings attributable to Mondelēz International

 $ 163    $ 622    $ 899    $ 500   
  

 

 

     

 

 

     

 

 

     

 

 

  

Weighted-average shares for basic EPS

   1,704      1,694      1,688      1,677   

Plus incremental shares from assumed conversions of
stock options and long-term incentive plan shares

   18      18      17      18   
  

 

 

     

 

 

     

 

 

     

 

 

  

Weighted-average shares for diluted EPS

   1,722      1,712      1,705      1,695   
  

 

 

     

 

 

     

 

 

     

 

 

  

Per share data:

Basic EPS attributable to Mondelēz International:

 $ 0.10    $ 0.37    $ 0.53    $ 0.30   
  

 

 

     

 

 

     

 

 

     

 

 

  

Diluted EPS attributable to Mondelēz International:

 $ 0.09    $ 0.36    $ 0.53    $ 0.29   
  

 

 

     

 

 

     

 

 

     

 

 

  

Dividends declared

 $ 0.14    $ 0.14    $ 0.15    $ 0.15   

Market price - high

 $ 36.05    $ 38.47    $ 39.54    $ 39.42   

                     - low

 $ 31.84    $ 34.03    $ 33.93    $ 31.83   

 

(1) In the fourth quarter of 2014, we recorded a tax benefit of $43 million associated with the lapse of a statute of limitations that related to the third quarter of 2014.

 

     2013 Quarters  
     First      Second      Third      Fourth  
     (in millions, except per share data)  

Net revenues

    $ 8,744       $ 8,595       $ 8,472       $ 9,488   

Gross profit

      3,242         3,231         3,144         3,493   

Provision / (benefit) for income taxes

      13         28         26         (7 ) 

Earnings from continuing operations

    $ 542       $ 602       $ 1,018       $ 170   

Earnings from discontinued operations, net of income taxes

      –         –         –         1,603   
  

 

 

     

 

 

     

 

 

     

 

 

  

Net earnings

 $ 542    $ 602    $ 1,018    $ 1,773   

Noncontrolling interest

   6      1      6      7   
  

 

 

     

 

 

     

 

 

     

 

 

  

Net earnings attributable to Mondelēz International

 $ 536    $ 601    $ 1,012    $ 1,766   
  

 

 

     

 

 

     

 

 

     

 

 

  

Weighted-average shares for basic EPS

   1,784      1,788      1,779      1,743   

Plus incremental shares from assumed conversions of
stock options and long-term incentive plan shares

   14      15      15      18   
  

 

 

     

 

 

     

 

 

     

 

 

  

Weighted-average shares for diluted EPS

   1,798      1,803      1,794      1,761   
  

 

 

     

 

 

     

 

 

     

 

 

  

Per share data:

Basic EPS attributable to Mondelēz International:

Continuing operations

 $ 0.30    $ 0.34    $ 0.57    $ 0.09   

Discontinued operations

   –      –      –      0.92   
  

 

 

     

 

 

     

 

 

     

 

 

  

Net earnings attributable to Mondelēz International:

 $ 0.30    $ 0.34    $ 0.57    $ 1.01   
  

 

 

     

 

 

     

 

 

     

 

 

  

Diluted EPS attributable to Mondelēz International:

Continuing operations

 $ 0.30    $ 0.33    $ 0.56    $ 0.09   

Discontinued operations

   –      –      –      0.91   
  

 

 

     

 

 

     

 

 

     

 

 

  

Net earnings attributable to Mondelēz International:

 $ 0.30    $ 0.33    $ 0.56    $ 1.00   
  

 

 

     

 

 

     

 

 

     

 

 

  

Dividends declared

 $ 0.13    $ 0.13    $ 0.14    $ 0.14   

Market price - high

 $ 30.66    $ 32.10    $ 33.08    $ 35.43   

                     - low

 $ 25.78    $ 28.22    $ 28.50    $ 30.07   

 

(1) In the third quarter of 2013, we recorded a $385 million pre-tax gain ($363 million net of tax) due to the resolution of a Cadbury acquisition-related indemnification. See Note 11, Commitments and Contingencies, for additional information. In the fourth quarter of 2013, we recorded a $608 million pre-tax loss ($386 million net of tax) in connection with extinguishing debt in the December 18, 2013 tender offer and a $2.5 billion pre-tax gain ($1.6 billion net of tax) on the resolution of the Starbucks arbitration. See Note 8, Debt and Borrowing Arrangements and Note 2, Divestitures and Acquisitions, for additional information.
Pre-Tax Charges/(Gains) in Earnings From Continuing Operations

During 2014 and 2013, we recorded the following pre-tax charges / (gains) in earnings from continuing operations:

 

                                                                           
     2014 Quarters  
     First      Second      Third      Fourth  
     (in millions)  

Asset impairment and exit costs

    $ 42       $ 55       $ 188       $ 407   

Unrealized (gain) / loss on planned coffee business transactions
currency hedge

      –         7         (420 )       (215 ) 

Loss on early extinguishment of
debt and related expenses

      494         1         –         –   
  

 

 

     

 

 

     

 

 

     

 

 

  
$ 536    $ 63    $ (232 )  $ 192   
  

 

 

     

 

 

     

 

 

     

 

 

  
     2013 Quarters  
     First      Second      Third      Fourth  
     (in millions)  

Asset impairment and exit costs

    $ 44       $ 48       $ 43       $ 138   

Benefit from indemnification resolution

      –         –         (385 )       –   

Loss on early extinguishment of
debt and related expenses

      –         –         –         612   

(Gains) / losses on divestitures, net

      (22 )       (6 )       –         (2 ) 
  

 

 

     

 

 

     

 

 

     

 

 

  
$ 22    $ 42    $ (342 )  $ 748