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Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2017

Net Revenues by Segment

Our segment net revenues and earnings, reflecting our current segment structure for all periods presented, were:

		For the Years Ended December 31,
		2017				2016				2015
		(in millions)
Net revenues:
Latin America (1)		$	3,566			$	3,392			$	4,988
AMEA (2)			5,739				5,816				6,002
Europe (2)			9,794				9,755				11,672
North America			6,797				6,960				6,974
Net revenues		$	25,896			$	25,923			$	29,636

(1) Net revenues of $1,217 million for 2015 from our Venezuelan subsidiaries are included in our consolidated financial statements. Beginning in 2016, we account for our Venezuelan subsidiaries using the cost method of accounting and no longer include net revenues of our Venezuelan subsidiaries within our consolidated financial statements. Refer to Note 1, Summary of Significant Accounting Policies – Currency Translation and Highly Inflationary Accounting: Venezuela, for more information.

(2) On July 2, 2015, we contributed our global coffee businesses primarily from our Europe and AMEA segments. Net revenues of our global coffee business were $1,561 million in Europe and $66 million in AMEA for the year ended December 31, 2015. Refer to Note 2, Divestitures and Acquisitions – JDE Coffee Business Transactions, for more information.

Operating Income by Segment

Our segment net revenues and earnings, reflecting our current segment structure for all periods presented, were:

		For the Years Ended December 31,
		2017				2016				2015
		(in millions)
Earnings before income taxes:
Operating income:
Latin America		$	565			$	271			$	485
AMEA			516				506				389
Europe			1,680				1,267				1,350
North America			1,120				1,078				1,105
Unrealized (losses)/gains on hedging activities (mark-to-market impacts)			(96	)			(94	)			96
General corporate expenses			(287	)			(291	)			(383	)
Amortization of intangibles			(178	)			(176	)			(181	)
Net gain on divestitures			186				9				6,822
Loss on deconsolidation of Venezuela			–				–				(778	)
Acquisition-related costs			–				(1	)			(8	)
Operating income			3,506				2,569				8,897
Interest and other expense, net			(382	)			(1,115	)			(1,013	)
Earnings before income taxes		$	3,124			$	1,454			$	7,884

Total Assets, Depreciation Expense and Capital Expenditure by Segment

Total assets, depreciation expense and capital expenditures by segment, reflecting our current segment structure for all periods presented, were:

		For the Years Ended December 31,
		2017				2016				2015
		(in millions)
Total assets:
Latin America		$	4,948			$	5,156			$	4,673
AMEA			9,883				10,031				10,460
Europe			21,611				19,934				21,026
North America			20,709				20,694				21,175
Equity method investments			6,345				5,585				5,387
Unallocated assets and adjustments (1)			(387	)			138				122
Total assets		$	63,109			$	61,538			$	62,843

(1) Unallocated assets consist primarily of cash and cash equivalents, deferred income taxes, centrally held property, plant and equipment, prepaid pension assets and derivative financial instrument balances. Final adjustments for jurisdictional netting of deferred tax assets and liabilities is done at a consolidated level.

		For the Years Ended December 31,
		2017				2016				2015
		(in millions)
Depreciation expense:
Latin America		$	107			$	92			$	94
AMEA			157				161				155
Europe			239				253				299
North America			135				141				165
Total depreciation expense		$	638			$	647			$	713

		For the Years Ended December 31,
		2017				2016				2015
		(in millions)
Capital expenditures:
Latin America		$	226			$	321			$	354
AMEA			280				349				381
Europe			278				294				517
North America			230				260				262
Total capital expenditures		$	1,014			$	1,224			$	1,514

Net Revenues by Geographic Segment

		For the Years Ended December 31,
		2017				2016				2015
		(in millions)
Net revenues:
United States		$	6,275			$	6,329			$	6,302
Other			19,621				19,594				23,334
Total net revenues		$	25,896			$	25,923			$	29,636

Long-lived Assets by Geographic Segment

		As of December 31,
		2017				2016				2015
		(in millions)
Long-lived assets:
United States		$	1,468			$	1,508			$	1,551
Other			7,733				7,229				7,238
Total long-lived assets		$	9,201			$	8,737			$	8,789

Net Revenues by Consumer Sector

Net revenues by product category, reflecting our current segment structure for all periods presented, were:

		For the Year Ended December 31, 2017
		Latin America (1)				AMEA				Europe				North America				Total (1)
		(in millions)
Biscuits		$	779			$	1,634			$	2,880			$	5,479			$	10,772
Chocolate			862				2,011				4,933				293				8,099
Gum & Candy			919				919				775				1,025				3,638
Beverages			665				569				121				–				1,355
Cheese & Grocery			341				606				1,085				–				2,032
Total net revenues		$	3,566			$	5,739			$	9,794			$	6,797			$	25,896

		For the Year Ended December 31, 2016
		Latin America (1)				AMEA				Europe				North America				Total (1)
		(in millions)
Biscuits		$	734			$	1,588			$	2,703			$	5,565			$	10,590
Chocolate			743				1,901				4,840				255				7,739
Gum & Candy			938				953				916				1,140				3,947
Beverages			657				611				177				–				1,445
Cheese & Grocery			320				763				1,119				–				2,202
Total net revenues		$	3,392			$	5,816			$	9,755			$	6,960			$	25,923

		For the Year Ended December 31, 2015
		Latin America (1)				AMEA				Europe (3)				North America				Total (1)
		(in millions)
Biscuits		$	1,605			$	1,539			$	2,680			$	5,569			$	11,393
Chocolate			840				1,928				5,050				256				8,074
Gum & Candy			1,091				1,003				1,015				1,149				4,258
Beverages (2)			767				730				1,763				–				3,260
Cheese & Grocery			685				802				1,164				–				2,651
Total net revenues		$	4,988			$	6,002			$	11,672			$	6,974			$	29,636

(1) In 2015, our consolidated net revenues included Venezuela net revenues of $763 million in biscuits, $340 million in cheese & grocery, $66 million in gum & candy and $48 million in beverages. Following the deconsolidation of our Venezuela operations at the end of 2015, our 2016 and 2017 consolidated net revenues no longer include the net revenues of our Venezuelan subsidiaries. Refer to Note 1, Summary of Significant Accounting Policies – Currency Translation and Highly Inflationary Accounting: Venezuela, for more information.

(2) On July 2, 2015, we contributed our global coffee businesses primarily from our Europe and AMEA segment beverage categories. Net revenues of our global coffee business were $1,561 million in Europe and $66 million in AMEA for the year ended December 31, 2015. Refer to Note 2, Divestitures and Acquisitions – JDE Coffee Business Transactions, for more information.

(3) During 2016, we realigned some of our products across product categories primarily within our Europe segment and as such, we reclassified the product category net revenues on a basis consistent with the 2016 presentation.

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- Definition

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