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Segment Reporting (Tables) | 12 Months Ended
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Dec. 31, 2015
Net Revenues by Segment | Our segment net revenues:
|  | For the Years Ended December 31, |
|  | 2015 |  |  | 2014 |  |  | 2013 |
|  | (in millions) |
Net revenues: |  |  |  |  |  |  |  |  |  |  |  |
Latin America (1) |  | $ | 4,988 |  |  | $ | 5,153 |  |  | $ | 5,382 |
Asia Pacific (1) |  |  | 4,360 |  |  |  | 4,605 |  |  |  | 4,952 |
EEMEA (1) |  |  | 2,786 |  |  |  | 3,638 |  |  |  | 3,915 |
Europe (1) |  |  | 10,528 |  |  |  | 13,912 |  |  |  | 14,059 |
North America |  |  | 6,974 |  |  |  | 6,936 |  |  |  | 6,991 |
Net revenues |  | $ | 29,636 |  |  | $ | 34,244 |  |  | $ | 35,299 |
| (1) | On July 2, 2015, we contributed our global coffee businesses primarily from our Europe, EEMEA and Asia Pacific segments. The impact of deconsolidating our coffee businesses on July 2, 2015 was $1,699 million in Europe, $413 million in EEMEA, $32 million in Asia Pacific and $5 million in Latin America on a year-over-year basis. Refer to Note 2, Divestitures and Acquisitions – Coffee Business Transactions, for more information.
Reconciliation of Operating Profit (Loss) from Segments to Consolidated | Our segment earnings:
|  | For the Years Ended December 31, |
|  | 2015 |  |  | 2014 |  |  | 2013 |
|  |  |  |  | (in millions) |  |  |  |
Earnings from continuing operations before income taxes: |  |  |  |  |  |  |  |  |  |  |  |
Operating income: |  |  |  |  |  |  |  |  |  |  |  |
Latin America |  | $ | 485 |  |  | $ | 475 |  |  | $ | 570 |
Asia Pacific |  |  | 268 |  |  |  | 385 |  |  |  | 512 |
EEMEA |  |  | 194 |  |  |  | 327 |  |  |  | 379 |
Europe |  |  | 1,277 |  |  |  | 1,770 |  |  |  | 1,699 |
North America |  |  | 1,105 |  |  |  | 922 |  |  |  | 889 |
Unrealized gains / (losses) on hedging activities |  |  | 96 |  |  |  | (112 | ) |  |  | 62 |
General corporate expenses |  |  | (383 | ) |  |  | (317 | ) |  |  | (287 | )
Amortization of intangibles |  |  | (181 | ) |  |  | (206 | ) |  |  | (217 | )
Benefit from indemnification resolution |  |  | – |  |  |  | – |  |  |  | 336 |
Gains on coffee business transactions and divestitures |  |  | 6,822 |  |  |  | – |  |  |  | 30 |
Loss on deconsolidation of Venezuela |  |  | (778 | ) |  |  | – |  |  |  | – |
Acquisition-related costs |  |  | (8 | ) |  |  | (2 | ) |  |  | (2 | )
Operating income |  |  | 8,897 |  |  |  | 3,242 |  |  |  | 3,971 |
Interest and other expense, net |  |  | (1,013 | ) |  |  | (688 | ) |  |  | (1,579 | )
Earnings from continuing operations before income taxes |  | $ | 7,884 |  |  | $ | 2,554 |  |  | $ | 2,392 |
Total Assets, Depreciation Expense and Capital Expenditure by Segment | Total assets, depreciation expense and capital expenditures by segment were:
|  | As of December 31, |
|  | 2015 |  |  | 2014 |  |  | 2013 |
|  |  |  |  | (in millions) |  |  |  |
Total assets (1): |  |  |  |  |  |  |  |  |  |  |  |
Latin America (2) |  | $ | 4,673 |  |  | $ | 6,470 |  |  | $ | 6,860 |
Asia Pacific (3) |  |  | 7,936 |  |  |  | 8,068 |  |  |  | 8,487 |
EEMEA (3) |  |  | 3,867 |  |  |  | 5,153 |  |  |  | 6,951 |
Europe (3) |  |  | 19,683 |  |  |  | 24,568 |  |  |  | 27,599 |
North America |  |  | 21,175 |  |  |  | 21,287 |  |  |  | 21,705 |
Equity method investments |  |  | 5,387 |  |  |  | 662 |  |  |  | 659 |
Unallocated assets (4) |  |  | 122 |  |  |  | 563 |  |  |  | 203 |
Total assets |  | $ | 62,843 |  |  | $ | 66,771 |  |  | $ | 72,464 |
| (1) | Beginning in the third quarter of 2015, earnings from equity method investees were reported outside of segment operating income, as discussed above in this Note and Note 1, Summary of Significant Accounting Policies – Principles of Consolidation, and outside of segment assets. We reclassified equity method investments above as of December 31, 2014 and 2013 on a basis consistent with the 2015 presentation.
| (2) | The change in total assets as of December 31, 2015 reflects a decrease of $1.1 billion related to the loss on deconsolidation of Venezuela. See Note 1, Summary of Significant Accounting Policies – Currency Translation and Highly Inflationary Accounting: Venezuela, for more information.
| (3) | On July 2, 2015, we deconsolidated our global coffee businesses, primarily from our Europe, EEMEA and Asia Pacific segments. See Note 2, Divestitures and Acquisitions – Coffee Business Transactions, for more information.
| (4) | Unallocated assets consist primarily of cash and cash equivalents, deferred income taxes, centrally held property, plant and equipment, prepaid pension assets and derivative financial instrument balances. We had debt issuance costs related to recognized debt liabilities of $46 million as of December 31, 2015, $44 million as of December 31, 2014 and $51 million as of December 31, 2013, which have been reclassified from long-term other assets to a deduction from the related debt obligations on the consolidated balance sheets.
|  | For the Years Ended December 31, |
|  | 2015 |  |  | 2014 |  |  | 2013 |
|  | (in millions) |
Depreciation expense: |  |  |  |  |  |  |  |  |  |  |  |
Latin America |  | $ | 94 |  |  | $ | 118 |  |  | $ | 107 |
Asia Pacific |  |  | 114 |  |  |  | 112 |  |  |  | 107 |
EEMEA |  |  | 66 |  |  |  | 90 |  |  |  | 88 |
Europe |  |  | 274 |  |  |  | 359 |  |  |  | 359 |
North America |  |  | 165 |  |  |  | 174 |  |  |  | 199 |
Total depreciation expense |  | $ | 713 |  |  | $ | 853 |  |  | $ | 860 |
|  | For the Years Ended December 31, |
|  | 2015 |  |  | 2014 |  |  | 2013 |
|  | (in millions) |
Capital Expenditures: |  |  |  |  |  |  |  |  |  |  |  |
Latin America |  | $ | 354 |  |  | $ | 460 |  |  | $ | 412 |
Asia Pacific |  |  | 311 |  |  |  | 356 |  |  |  | 268 |
EEMEA |  |  | 197 |  |  |  | 219 |  |  |  | 254 |
Europe |  |  | 390 |  |  |  | 429 |  |  |  | 478 |
North America |  |  | 262 |  |  |  | 178 |  |  |  | 210 |
Total capital expenditures |  | $ | 1,514 |  |  | $ | 1,642 |  |  | $ | 1,622 |
Net Revenues by Geographic Segment |
|  | For the Years Ended December 31, |
|  | 2015 |  |  | 2014 |  |  | 2013 |
|  |  |  |  | (in millions) |  |  |  |
Net revenues: |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 6,302 |  |  | $ | 6,143 |  |  | $ | 5,965 |
Other |  |  | 23,334 |  |  |  | 28,101 |  |  |  | 29,334 |
Total net revenues |  | $ | 29,636 |  |  | $ | 34,244 |  |  | $ | 35,299 |
Long-Lived Assets Excluding Deferred Tax, Goodwill and Intangible Assets by Geographic Segment |
|  | As of December 31, |
|  | 2015 |  |  | 2014 |  |  | 2013 |
|  |  |  |  | (in millions) |  |  |  |
Long-lived assets (1): |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 1,551 |  |  | $ | 1,564 |  |  | $ | 1,607 |
Other |  |  | 7,238 |  |  |  | 8,801 |  |  |  | 9,201 |
Total long-lived assets |  | $ | 8,789 |  |  | $ | 10,365 |  |  | $ | 10,808 |
| (1) | Long-lived assets no longer includes debt issuance costs related to recognized debt liabilities of $46 million as of December 31, 2015, $44 million as of December 31, 2014 and $51 million as of December 31, 2013, which have been reclassified from long-term other assets to a deduction from the related debt obligations on the consolidated balance sheets.
Net Revenues by Consumer Sector | Net revenues by product category were:
|  | For the Year Ended December 31, 2015 |
|  | Latin |  |  | Asia |  |  |  |  |  |  |  |  | North |  |  |  |
|  | America |  |  | Pacific |  |  | EEMEA |  |  | Europe |  |  | America |  |  | Total |
|  | (in millions) |
Biscuits |  | $ | 1,605 |  |  | $ | 1,264 |  |  | $ | 535 |  |  | $ | 2,420 |  |  | $ | 5,569 |  |  | $ | 11,393 |
Chocolate |  |  | 840 |  |  |  | 1,444 |  |  |  | 896 |  |  |  | 4,638 |  |  |  | 256 |  |  |  | 8,074 |
Gum & Candy |  |  | 1,091 |  |  |  | 717 |  |  |  | 544 |  |  |  | 757 |  |  |  | 1,149 |  |  |  | 4,258 |
Beverages (1) |  |  | 767 |  |  |  | 401 |  |  |  | 543 |  |  |  | 1,549 |  |  |  | – |  |  |  | 3,260 |
Cheese & Grocery |  |  | 685 |  |  |  | 534 |  |  |  | 268 |  |  |  | 1,164 |  |  |  | – |  |  |  | 2,651 |
Total net revenues |  | $ | 4,988 |  |  | $ | 4,360 |  |  | $ | 2,786 |  |  | $ | 10,528 |  |  | $ | 6,974 |  |  | $ | 29,636 |
|  | For the Year Ended December 31, 2014 (2) |
|  | Latin |  |  | Asia |  |  |  |  |  |  |  |  | North |  |  |  |
|  | America |  |  | Pacific |  |  | EEMEA |  |  | Europe |  |  | America |  |  | Total |
|  | (in millions) |
Biscuits |  | $ | 1,322 |  |  | $ | 1,177 |  |  | $ | 642 |  |  | $ | 2,882 |  |  | $ | 5,486 |  |  | $ | 11,509 |
Chocolate |  |  | 1,054 |  |  |  | 1,555 |  |  |  | 1,082 |  |  |  | 5,394 |  |  |  | 296 |  |  |  | 9,381 |
Gum & Candy |  |  | 1,176 |  |  |  | 776 |  |  |  | 646 |  |  |  | 908 |  |  |  | 1,154 |  |  |  | 4,660 |
Beverages (1) |  |  | 940 |  |  |  | 465 |  |  |  | 981 |  |  |  | 3,292 |  |  |  | – |  |  |  | 5,678 |
Cheese & Grocery |  |  | 661 |  |  |  | 632 |  |  |  | 287 |  |  |  | 1,436 |  |  |  | – |  |  |  | 3,016 |
Total net revenues |  | $ | 5,153 |  |  | $ | 4,605 |  |  | $ | 3,638 |  |  | $ | 13,912 |  |  | $ | 6,936 |  |  | $ | 34,244 |
|  | For the Year Ended December 31, 2013 (2) |
|  | Latin |  |  | Asia |  |  |  |  |  |  |  |  | North |  |  |  |
|  | America |  |  | Pacific |  |  | EEMEA |  |  | Europe |  |  | America |  |  | Total |
|  | (in millions) |
Biscuits |  | $ | 1,288 |  |  | $ | 1,311 |  |  | $ | 677 |  |  | $ | 2,940 |  |  | $ | 5,480 |  |  | $ | 11,696 |
Chocolate |  |  | 1,143 |  |  |  | 1,632 |  |  |  | 1,181 |  |  |  | 5,385 |  |  |  | 326 |  |  |  | 9,667 |
Gum & Candy |  |  | 1,380 |  |  |  | 849 |  |  |  | 673 |  |  |  | 968 |  |  |  | 1,185 |  |  |  | 5,055 |
Beverages (1) |  |  | 907 |  |  |  | 470 |  |  |  | 1,113 |  |  |  | 3,340 |  |  |  | – |  |  |  | 5,830 |
Cheese & Grocery |  |  | 664 |  |  |  | 690 |  |  |  | 271 |  |  |  | 1,426 |  |  |  | – |  |  |  | 3,051 |
Total net revenues |  | $ | 5,382 |  |  | $ | 4,952 |  |  | $ | 3,915 |  |  | $ | 14,059 |  |  | $ | 6,991 |  |  | $ | 35,299 |
| (1) | On July 2, 2015, we contributed our global coffee businesses primarily from our Europe, EEMEA and Asia Pacific segment beverage categories. The decrease in beverages net revenues in 2015 compared to 2014 primarily reflects the coffee business transactions and unfavorable currency on our remaining beverage business. The impact of deconsolidating our coffee businesses on July 2, 2015 was $1,699 million in Europe, $413 million in EEMEA, $32 million in Asia Pacific and $5 million in Latin America on a year-over-year basis. Refer to Note 2, Divestitures and Acquisitions – Coffee Business Transactions, for more information.
| (2) | During 2014, we realigned some of our products across product categories and as such, we reclassified the product category net revenues on a basis consistent with the 2015 presentation.

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