Reclassifications from Accumulated Other Comprehensive Income

3 Months Ended

Mar. 31, 2016

Reclassifications from Accumulated Other Comprehensive Income

Note 12. Reclassifications from Accumulated Other Comprehensive Income

The following table summarizes the changes in the accumulated balances of each component of accumulated other comprehensive earnings / (losses) attributable to Mondelēz International. Amounts reclassified from accumulated other comprehensive earnings / (losses) to net earnings (net of tax) were net losses of $140 million in the three months ended March 31, 2016 and $24 million in the three months ended March 31, 2015.


	For the Three Months Ended
	March 31,
	2016			2015
	(in millions)
Currency Translation Adjustments:
Balances at January 1,	$	(8,006	)	$	(5,042	)
Currency translation adjustments attributable to:
Translation of international operations ⁽¹⁾		792			(2,352	)
Pension and other benefits		(30	)		131
Derivatives accounted for as net investment hedges		(274	)		525
Noncontrolling interests		13			(25	)
Tax (expense) / benefit		100			(192	)

Other comprehensive earnings / (losses)		601			(1,913	)
Less: portion attributable to noncontrolling interests		13			(25	)

Balances at March 31,		(7,418	)		(6,930	)

Pension and Other Benefits:
Balances at January 1,	$	(1,934	)	$	(2,274	)
Losses / (gains) reclassified into net earnings:
Amortization of experience losses and prior service costs ⁽²⁾		29			52
Settlement losses ⁽²⁾		4			3
Tax (expense) / benefit on reclassifications⁽³⁾		(9	)		(13	)

Other comprehensive earnings / (losses)		24			42

Balances at March 31,		(1,910	)		(2,232	)

Derivatives Accounted for as Hedges:
Balances at January 1,	$	(46	)	$	(2	)
Net derivative gains / (losses)		(90	)		(56	)
Tax (expense) / benefit on net derivative gain / (loss)		24			30
Losses / (gains) reclassified into net earnings:
Currency exchange contracts - forecasted transactions ⁽⁴⁾		(6	)		(50	)
Commodity contracts ⁽⁴⁾		5			5
Interest rate contracts ⁽⁵⁾		96			41
Tax (expense) / benefit on reclassifications⁽³⁾		(36	)		(14	)

Other comprehensive earnings / (losses)		(7	)		(44	)

Balances at March 31,		(53	)		(46	)

Accumulated other comprehensive income attributable to Mondelēz International:
Balance at January 1,	$	(9,986	)	$	(7,318	)
Total other comprehensive earnings / (losses)		618			(1,915	)
Less: portion attributable to noncontrolling interests		13			(25	)

Other comprehensive earnings / (losses) attributable to Mondelez International		605			(1,890	)

Balance at March 31,	$	(9,381	)	$	(9,208	)

(1)

Includes $57 million of historical cumulative transaction adjustments reclassified to net earnings within the gain on equity method investment exchange.

(2)

These reclassified gains or losses are included in the components of net periodic benefit costs disclosed in Note 9, Benefit Plans, and equity method investment net earnings.

(3)

Taxes related to reclassified gains or losses are recorded within the provision for income taxes.

(4)

These reclassified gains or losses are recorded within cost of sales.

(5)

These reclassified gains or losses are recorded within interest and other expense, net.

- Definition

The entire disclosure for any adjustments made during the period to avoid double counting in comprehensive income items displayed as part of net income that also had been displayed as part of other comprehensive income in that period or earlier periods. These adjustments include reclassifications to net income of items in accumulated comprehensive income, such as deferred gains or losses on qualifying hedges when hedged item reported in net income, holding gains or losses on available-for-sale securities transferred into trading category, unrealized holding gains or losses on debt securities transferred from held-to-maturity category into available-for-sale category and accumulated translation adjustment attributable to foreign subsidiary or investment in foreign entity upon sale or liquidation.

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