Reclassifications from Accumulated Other Comprehensive Income

12 Months Ended

Dec. 31, 2016

Reclassifications from Accumulated Other Comprehensive Income

Note 13. 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 $250 million in 2016, $350 million in 2015 and $79 million in 2014.


	For the Years Ended December 31,
	2016			2015			2014
	(in millions)

Currency Translation Adjustments:
Balance at beginning of period	$	(8,006	)	$	(5,042	)	$	(1,414	)
Currency translation adjustments		(847	)		(2,905	)		(3,433	)
Reclassification to earnings related to:
Venezuela deconsolidation		–			99			–
Equity method investment exchange		57			–			–
Tax (expense) / benefit		(135	)		(184	)		(228	)

Other comprehensive earnings / (losses)		(925	)		(2,990	)		(3,661	)
Less: loss attributable to noncontrolling interests		17			26			33

Balance at end of period		(8,914	)		(8,006	)		(5,042	)

Pension and Other Benefit Plans:
Balance at beginning of period	$	(1,934	)	$	(2,274	)	$	(1,592	)
Net actuarial gain / (loss) arising during period		(491	)		(60	)		(1,388	)
Tax (expense) / benefit on net actuarial gain / (loss)		70			3			442
Losses / (gains) reclassified into net earnings:
Amortization of experience losses and prior service costs ⁽¹⁾		150			207			132
Settlement losses ⁽¹⁾		36			111			42
Venezuela deconsolidation		–			2			–
Tax (expense) / benefit on reclassifications⁽²⁾		(46	)		(69	)		(56	)
Currency impact		128			146			146

Other comprehensive earnings / (losses)		(153	)		340			(682	)

Balance at end of period		(2,087	)		(1,934	)		(2,274	)

Derivative Cash Flow Hedges:
Balance at beginning of period	$	(46	)	$	(2	)	$	117
Net derivative gains / (losses)		(151	)		(75	)		(166	)
Tax (expense) / benefit on net derivative gain / (loss)		20			30			86
Losses / (gains) reclassified into net earnings:
Currency exchange contracts – forecasted transactions ⁽³⁾		3			(90	)		(27	)
Commodity contracts ⁽³⁾		9			64			(21	)
Interest rate contracts ⁽⁴⁾		83			47			3
Tax (expense) / benefit on reclassifications⁽²⁾		(42	)		(21	)		6
Currency impact		3			1			–

Other comprehensive earnings / (losses)		(75	)		(44	)		(119	)

Balance at end of period		(121	)		(46	)		(2	)

Accumulated other comprehensive income attributable to Mondelēz International:
Balance at beginning of period	$	(9,986	)	$	(7,318	)	$	(2,889	)
Total other comprehensive earnings / (losses)		(1,153	)		(2,694	)		(4,462	)
Less: loss attributable to noncontrolling interests		17			26			33

Other comprehensive earnings / (losses) attributable to Mondelēz International		(1,136	)		(2,668	)		(4,429	)

Balance at end of period	$	(11,122	)	$	(9,986	)	$	(7,318	)

(1)

These reclassified gains or losses are included in the components of net periodic benefit costs disclosed in Note 9, Benefit Plans. Settlement losses include the transfer of coffee business-related pension obligations in the amount of $90 million in 2015.

(2)

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

(3)

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

(4)

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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