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Divestitures and Acquisitions (Tables)
 12 Months Ended
Dec. 31, 2015
Pre-tax Earnings and Major Classes of Assets and Liabilities

In our historical consolidated results, the pre-tax earnings of the coffee businesses we contributed to JDE were included in periods prior to the July 2, 2015 closing date and as reflected below for the periods presented:

 

     For the Six Months
Ended July 2,		      For the Years Ended December 31,  
     2015      2014      2013  
     (in millions)      (in millions)  

Earnings before income taxes

    $ 342       $ 646       $ 700   

 

 

On July 2, 2015, we deconsolidated the following assets and liabilities in connection with the deconsolidation of our global coffee businesses (in millions). The amounts below also include the fourth quarter final settlement of coffee business-related pension obligations as further described below.

 

Assets

   

Cash and cash equivalents

    $ 488   

Trade receivables

      468   

Other receivables

      24   

Inventories, net

      469   

Deferred income taxes

      6   

Other current assets

      44   
  

 

 

  

Current assets

      1,499   

Property, plant and equipment, net

      751   

Goodwill

      1,664   

Intangible assets, net

      –   

Other assets

      35   
  

 

 

  

Noncurrent assets

      2,450   
  

 

 

  

Total assets

    $ 3,949   
  

 

 

  

Liabilities

   

Accounts payable

    $ 438   

Accrued marketing

      290   

Accrued employment costs

      29   

Other current liabilities

      63   
  

 

 

  

Current liabilities

      820   

Deferred income taxes

      63   

Accrued pension costs

      131   

Other liabilities

      4   
  

 

 

  

Noncurrent liabilities

      198   
  

 

 

  

Total liabilities

    $ 1,018   
  

 

 

  

Net assets deconsolidated

    $ 2,931   
  

 

 

  


 
Summary Financial Information for Equity Method Investments

Summary Financial Information for Equity Method Investments:

Summarized financial information for JDE and our other equity method investments is reflected below.

 

            As of December 31,  
            2015      2014  
            (in millions)  

Current assets

       $ 3,943       $ 1,120   

Noncurrent assets

         20,936         835   
     

 

 

     

 

 

  

Total assets

       $ 24,879       $ 1,955   
     

 

 

     

 

 

  

Current liabilities

       $ 2,779       $ 564   

Noncurrent liabilities

         9,880         62   
     

 

 

     

 

 

  

Total liabilities

       $ 12,659       $ 626   
     

 

 

     

 

 

  
     For the Years Ended December 31,  
     2015      2014      2013  
     (in millions)  

Net revenues

    $ 4,993       $ 2,721       $ 2,749   

Gross profit

      1,551         921         952   

Income from continuing operations

      96         226         214   

Net income

      97         226         214   

Net income attributable to investees (1)

    $ 97       $ 226       $ 214   

Mondelēz International ownership interests

      40%-50%         40%-50%         40%-50%   
  

 

 

     

 

 

     

 

 

  

Mondelēz International share of investee net income (2)

    $ 56       $ 113       $ 107   
  

 

 

     

 

 

     

 

 

  

 

  (1) Includes $33 million of amortization expense related to a basis difference between the U.S. GAAP accounting basis for our equity method investments and the U.S. GAAP accounting basis of their equity.
  (2) Historically, we have recorded income from equity method investments within our operating income as these investments operated as extensions of our base business. Beginning in the third quarter of 2015, to align with the accounting for JDE earnings, we began to record the earnings from our equity method investments in after-tax equity method investment earnings outside of operating income. For the six months ended December 31, 2015, after-tax equity method investment net earnings were less than $1 million on a combined basis. Earnings from equity method investments recorded within segment operating income were $56 million for the six months ended July 2, 2015, $113 million for the year ended December 31, 2014 and $107 million for the year ended December 31, 2013. See Note 1, Summary of Significant Accounting Policies – Principles of Consolidation, for additional information.