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Segment Reporting (Tables) | 6 Months Ended
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Jun. 30, 2019
Segment Reporting [Abstract] |
Schedule of Segment Net Revenues and Earnings | Our segment net revenues and earnings were:
| For the Three Months Ended June 30, |  | For the Six Months Ended June 30,
| 2019 |  | 2018 |  | 2019 |  | 2018
| (in millions)
Net revenues: |  |  |  |  |  |  |
Latin America | $ | 737 |  |  | $ | 774 |  |  | $ | 1,537 |  |  | $ | 1,665 |
AMEA | 1,352 |  |  | 1,360 |  |  | 2,893 |  |  | 2,902 |
Europe | 2,247 |  |  | 2,303 |  |  | 4,798 |  |  | 5,009 |
North America | 1,726 |  |  | 1,675 |  |  | 3,372 |  |  | 3,301 |
Net revenues | $ | 6,062 |  |  | $ | 6,112 |  |  | $ | 12,600 |  |  | $ | 12,877 |
Earnings before income taxes: |  |  |  |  |  |  |
Operating income: |  |  |  |  |  |  |
Latin America | $ | 68 |  |  | $ | 92 |  |  | $ | 166 |  |  | $ | 218 |
AMEA | 191 |  |  | 177 |  |  | 447 |  |  | 405 |
Europe | 408 |  |  | 367 |  |  | 908 |  |  | 864 |
North America | 407 |  |  | (95 | ) |  | 726 |  |  | 180 |
Unrealized gains on hedging activities (mark-to-market impacts) | 33 |  |  | 88 |  |  | 49 |  |  | 294 |
General corporate expenses | (79 | ) |  | (91 | ) |  | (188 | ) |  | (155 | )
Amortization of intangibles | (43 | ) |  | (44 | ) |  | (87 | ) |  | (88 | )
Net gain on divestitures | 41 |  |  | — |  |  | 41 |  |  | — |
Acquisition-related costs | (1 | ) |  | (13 | ) |  | (1 | ) |  | (13 | )
Operating income | 1,025 |  |  | 481 |  |  | 2,061 |  |  | 1,705 |
Benefit plan non-service income | 12 |  |  | 15 |  |  | 29 |  |  | 28 |
Interest and other expense, net | (101 | ) |  | (248 | ) |  | (181 | ) |  | (328 | )
Earnings before income taxes | $ | 936 |  |  | $ | 248 |  |  | $ | 1,909 |  |  | $ | 1,405 |
Schedule of Net Revenues by Product Category | Net revenues by product category were:
| For the Three Months Ended June 30, 2019
| Latin America |  | AMEA |  | Europe |  | North America |  | Total
| (in millions)
Biscuits | $ | 186 |  |  | $ | 405 |  |  | $ | 767 |  |  | $ | 1,451 |  |  | $ | 2,809 |
Chocolate | 157 |  |  | 438 |  |  | 1,006 |  |  | 42 |  |  | 1,643 |
Gum & Candy | 209 |  |  | 224 |  |  | 181 |  |  | 233 |  |  | 847 |
Beverages | 108 |  |  | 169 |  |  | 20 |  |  | — |  |  | 297 |
Cheese & Grocery | 77 |  |  | 116 |  |  | 273 |  |  | — |  |  | 466 |
Total net revenues | $ | 737 |  |  | $ | 1,352 |  |  | $ | 2,247 |  |  | $ | 1,726 |  |  | $ | 6,062 |
| For the Three Months Ended June 30, 2018
| Latin America |  | AMEA |  | Europe |  | North America |  | Total
| (in millions)
Biscuits | $ | 192 |  |  | $ | 387 |  |  | $ | 810 |  |  | $ | 1,403 |  |  | $ | 2,792 |
Chocolate | 161 |  |  | 440 |  |  | 1,003 |  |  | 46 |  |  | 1,650 |
Gum & Candy | 224 |  |  | 236 |  |  | 200 |  |  | 226 |  |  | 886 |
Beverages | 116 |  |  | 173 |  |  | 19 |  |  | — |  |  | 308 |
Cheese & Grocery | 81 |  |  | 124 |  |  | 271 |  |  | — |  |  | 476 |
Total net revenues | $ | 774 |  |  | $ | 1,360 |  |  | $ | 2,303 |  |  | $ | 1,675 |  |  | $ | 6,112 |
| For the Six Months Ended June 30, 2019
| Latin America |  | AMEA |  | Europe |  | North America |  | Total
| (in millions)
Biscuits | $ | 356 |  |  | $ | 866 |  |  | $ | 1,501 |  |  | $ | 2,823 |  |  | $ | 5,546 |
Chocolate | 387 |  |  | 995 |  |  | 2,366 |  |  | 101 |  |  | 3,849 |
Gum & Candy | 409 |  |  | 449 |  |  | 354 |  |  | 448 |  |  | 1,660 |
Beverages | 231 |  |  | 341 |  |  | 46 |  |  | — |  |  | 618 |
Cheese & Grocery | 154 |  |  | 242 |  |  | 531 |  |  | — |  |  | 927 |
Total net revenues | $ | 1,537 |  |  | $ | 2,893 |  |  | $ | 4,798 |  |  | $ | 3,372 |  |  | $ | 12,600 |
| For the Six Months Ended June 30, 2018
| Latin America |  | AMEA |  | Europe |  | North America |  | Total
| (in millions)
Biscuits | $ | 375 |  |  | $ | 829 |  |  | $ | 1,605 |  |  | $ | 2,736 |  |  | $ | 5,545 |
Chocolate | 404 |  |  | 1,013 |  |  | 2,426 |  |  | 103 |  |  | 3,946 |
Gum & Candy | 448 |  |  | 471 |  |  | 386 |  |  | 462 |  |  | 1,767 |
Beverages | 277 |  |  | 345 |  |  | 47 |  |  | — |  |  | 669 |
Cheese & Grocery | 161 |  |  | 244 |  |  | 545 |  |  | — |  |  | 950 |
Total net revenues | $ | 1,665 |  |  | $ | 2,902 |  |  | $ | 5,009 |  |  | $ | 3,301 |  |  | $ | 12,877 |

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