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Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended
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Dec. 31, 2017
Summary of Operating Results | Our summarized operating results by quarter are detailed below.
|  | 2017 Quarters |
|  | First |  |  | Second |  |  | Third |  |  | Fourth |
|  | (in millions, except per share data) |
Net revenues |  | $ | 6,414 |  |  | $ | 5,986 |  |  | $ | 6,530 |  |  | $ | 6,966 |
Gross profit |  |  | 2,525 |  |  |  | 2,324 |  |  |  | 2,552 |  |  |  | 2,664 |
Provision for income taxes |  |  | (154 | ) |  |  | (84 | ) |  |  | (272 | ) |  |  | (178 | )
Gain on equity method investment transactions |  |  | – |  |  |  | – |  |  |  | – |  |  |  | 40 |
Equity method investment net earnings |  |  | 66 |  |  |  | 67 |  |  |  | 103 |  |  |  | 224 |
Net earnings (1) |  | $ | 633 |  |  | $ | 500 |  |  | $ | 993 |  |  | $ | 810 |
Noncontrolling interest |  |  | (3 | ) |  |  | (2 | ) |  |  | (1 | ) |  |  | (8 | )
Net earnings attributable to Mondelēz International |  | $ | 630 |  |  | $ | 498 |  |  | $ | 992 |  |  | $ | 802 |
Weighted-average shares for basic EPS |  |  | 1,529 |  |  |  | 1,519 |  |  |  | 1,507 |  |  |  | 1,497 |
Plus incremental shares from assumed conversions of stock options and long-term incentive plan shares |  |  | 21 |  |  |  | 20 |  |  |  | 17 |  |  |  | 16 |
Weighted-average shares for diluted EPS |  |  | 1,550 |  |  |  | 1,539 |  |  |  | 1,524 |  |  |  | 1,513 |
Per share data: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic EPS attributable to Mondelēz International: |  | $ | 0.41 |  |  | $ | 0.33 |  |  | $ | 0.66 |  |  | $ | 0.54 |
Diluted EPS attributable to Mondelēz International: |  | $ | 0.41 |  |  | $ | 0.32 |  |  | $ | 0.65 |  |  | $ | 0.53 |
Dividends declared |  | $ | 0.19 |  |  | $ | 0.19 |  |  | $ | 0.22 |  |  | $ | 0.22 |
Market price - high |  | $ | 45.48 |  |  | $ | 47.23 |  |  | $ | 44.48 |  |  | $ | 43.98 |
- low |  | $ | 41.30 |  |  | $ | 42.92 |  |  | $ | 40.04 |  |  | $ | 39.19 |
|  | 2016 Quarters |
|  | First |  |  | Second |  |  | Third |  |  | Fourth |
|  | (in millions, except per share data) |
Net revenues |  | $ | 6,455 |  |  | $ | 6,302 |  |  | $ | 6,396 |  |  | $ | 6,770 |
Gross profit |  |  | 2,535 |  |  |  | 2,516 |  |  |  | 2,488 |  |  |  | 2,589 |
Provision for income taxes |  |  | (49 | ) |  |  | (118 | ) |  |  | (40 | ) |  |  | 78 |
Gain on equity method investment transactions |  |  | 43 |  |  |  | – |  |  |  | – |  |  |  | – |
Equity method investment net earnings |  |  | 85 |  |  |  | 102 |  |  |  | 31 |  |  |  | 83 |
Net earnings (1) |  | $ | 557 |  |  | $ | 471 |  |  | $ | 548 |  |  | $ | 93 |
Noncontrolling interest |  |  | (3 | ) |  |  | (7 | ) |  |  | – |  |  |  | – |
Net earnings attributable to Mondelēz International |  | $ | 554 |  |  | $ | 464 |  |  | $ | 548 |  |  | $ | 93 |
Weighted-average shares for basic EPS |  |  | 1,569 |  |  |  | 1,557 |  |  |  | 1,557 |  |  |  | 1,540 |
Plus incremental shares from assumed conversions of stock options and long-term incentive plan shares |  |  | 18 |  |  |  | 19 |  |  |  | 19 |  |  |  | 19 |
Weighted-average shares for diluted EPS |  |  | 1,587 |  |  |  | 1,576 |  |  |  | 1,576 |  |  |  | 1,559 |
Per share data: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic EPS attributable to Mondelēz International: |  | $ | 0.35 |  |  | $ | 0.30 |  |  | $ | 0.35 |  |  | $ | 0.06 |
Diluted EPS attributable to Mondelēz International: |  | $ | 0.35 |  |  | $ | 0.29 |  |  | $ | 0.35 |  |  | $ | 0.06 |
Dividends declared |  | $ | 0.17 |  |  | $ | 0.17 |  |  | $ | 0.19 |  |  | $ | 0.19 |
Market price - high |  | $ | 44.45 |  |  | $ | 45.75 |  |  | $ | 46.36 |  |  | $ | 46.40 |
- low |  | $ | 35.88 |  |  | $ | 39.53 |  |  | $ | 41.96 |  |  | $ | 40.50 |
(1) | See the following table for significant items that affected the comparability of earnings each quarter.
Pre-Tax (Charges) / Gains in Earnings From Continuing Operations | During 2017 and 2016, we recorded the following pre-tax (charges)/gains in earnings from continuing operations:
|  | 2017 Quarters |
|  | First |  |  | Second |  |  | Third |  |  | Fourth |
|  | (in millions) |
Asset impairment and exit costs |  | $ | (166 | ) |  | $ | (187 | ) |  | $ | (183 | ) |  | $ | (120 | )
Net gain on divestitures |  |  | – |  |  |  | (3 | ) |  |  | 187 |  |  |  | 2 |
Divestiture-related costs |  |  | (19 | ) |  |  | (9 | ) |  |  | 2 |  |  |  | (8 | )
Loss on early extinguishment of debt and related expenses |  |  | – |  |  |  | (11 | ) |  |  | – |  |  |  | – |
Benefits from the resolution of tax matters |  |  | 58 |  |  |  | – |  |  |  | 215 |  |  |  | 8 |
|  | $ | (127 | ) |  | $ | (210 | ) |  | $ | 221 |  |  | $ | (118 | )
|  | 2016 Quarters |
|  | First |  |  | Second |  |  | Third |  |  | Fourth |
|  | (in millions) |
Asset impairment and exit costs |  | $ | (154 | ) |  | $ | (166 | ) |  | $ | (190 | ) |  | $ | (342 | )
Divestiture-related costs |  |  | – |  |  |  | (84 | ) |  |  | – |  |  |  | (2 | )
Loss related to interest rate swaps |  |  | (97 | ) |  |  | – |  |  |  | – |  |  |  | – |
Loss on early extinguishment of debt and related expenses |  |  | – |  |  |  | – |  |  |  | – |  |  |  | (427 | )
|  | $ | (251 | ) |  | $ | (250 | ) |  | $ | (190 | ) |  | $ | (771 | )

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