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Quarterly Financial Data (Unaudited) | 12 Months Ended
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Dec. 31, 2017
Quarterly Financial Data (Unaudited) | Note 17. Quarterly Financial Data (Unaudited) 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.
Basic and diluted EPS are computed independently for each of the periods presented. Accordingly, the sum of the quarterly EPS amounts may not equal the total for the year. 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 | )
Items impacting our operating results are discussed in Note 1, Summary of Significant Accounting Policies, including the Venezuela deconsolidation and currency devaluations, Note 2, Divestitures and Acquisitions, Note 5, Goodwill and Intangible Assets, Note 6, 2014-2018 Restructuring Program, and Note 7, Debt and Borrowing Arrangements.

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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