EX-99.1

EX-99.1 2 d753661dex991.htm EX-99.1 EX-99.1

Exhibit 99.1

U.S. GAAP to Non-GAAP Reconciliations

In addition to reporting our U.S. GAAP operating results, we have historically reported non-GAAP financial information. Refer also to our Quarterly Reports on Form 10-Q and our Annual Report on Form 10-K for the periods presented for additional information on our GAAP to non-GAAP adjustments.

Schedule 1.1

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Net Revenues

(in millions of U.S. dollars)

(Unaudited)


	Latin America			AMEA			Europe			North America			Mondelēz International			Emerging Markets			Developed Markets
For the Three Months Ended March 31, 2019
Reported (GAAP)	$	800		$	1,541		$	2,551		$	1,646		$	6,538		$	2,502		$	4,036
Acquisition		—			—			—			(20	)		(20	)		—			(20	)
Currency		166			95			229			8			498			299			199

Organic (Non-GAAP)	$	966		$	1,636		$	2,780		$	1,634		$	7,016		$	2,801		$	4,215
MEA cheese business divestiture		—			(33	)		—			—			(33	)		(33	)		—

Revised Organic (Non-GAAP)	$	966		$	1,603		$	2,780		$	1,634		$	6,983		$	2,768		$	4,215

For the Three Months Ended March 31, 2018
Reported (GAAP)	$	891		$	1,542		$	2,706		$	1,626		$	6,765		$	2,584		$	4,181
Divestitures		—			—			—			—			—			—			—

Organic (Non-GAAP)	$	891		$	1,542		$	2,706		$	1,626		$	6,765		$	2,584		$	4,181
MEA cheese business divestiture		—			(31	)		—			—			(31	)		(31	)		—

Revised Organic (Non-GAAP)	$	891		$	1,511		$	2,706		$	1,626		$	6,734		$	2,553		$	4,181

% Change
Reported (GAAP)		(10.2	)%		(0.1	)%		(5.7	)%		1.2	%		(3.4	)%		(3.2	)%		(3.5	)%
Organic (Non-GAAP)		8.4	%		6.1	%		2.7	%		0.5	%		3.7	%		8.4	%		0.8	%
Revised Organic (Non-GAAP)		8.4	%		6.1	%		2.7	%		0.5	%		3.7	%		8.4	%		0.8	%

Schedule 1.2

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Net Revenues

(in millions of U.S. dollars)

(Unaudited)


	Latin America			AMEA			Europe			North America			Mondelēz International			Emerging Markets			Developed Markets
For the Twelve Months Ended December 31, 2018
Reported (GAAP)	$	3,202		$	5,729		$	10,122		$	6,885		$	25,938		$	9,659		$	16,279
Acquisition		—			—			—			(52	)		(52	)		—			(52	)
Currency		493			74			(228	)		4			343			604			(261	)

Organic (Non-GAAP)	$	3,695		$	5,803		$	9,894		$	6,837		$	26,229		$	10,263		$	15,966
MEA cheese business divestiture		—			(126	)		—			—			(126	)		(126	)		—

Revised Organic (Non-GAAP)	$	3,695		$	5,677		$	9,894		$	6,837		$	26,103		$	10,137		$	15,966

For the Twelve Months Ended December 31, 2017
Reported (GAAP)	$	3,566		$	5,739		$	9,794		$	6,797		$	25,896		$	9,707		$	16,189
Divestitures		—			(133	)		(137	)		—			(270	)		—			(270	)

Organic (Non-GAAP)	$	3,566		$	5,606		$	9,657		$	6,797		$	25,626		$	9,707		$	15,919
MEA cheese business divestiture		—			(132	)		—			—			(132	)		(132	)		—

Revised Organic (Non-GAAP)	$	3,566		$	5,474		$	9,657		$	6,797		$	25,494		$	9,575		$	15,919

% Change
Reported (GAAP)		(10.2	)%		(0.2	)%		3.3	%		1.3	%		0.2	%		(0.5	)%		0.6	%
Organic (Non-GAAP)		3.6	%		3.5	%		2.5	%		0.6	%		2.4	%		5.7	%		0.3	%
Revised Organic (Non-GAAP)		3.6	%		3.7	%		2.5	%		0.6	%		2.4	%		5.9	%		0.3	%

Schedule 1.3

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Net Revenues

(in millions of U.S. dollars)

(Unaudited)


	Latin America			AMEA			Europe			North America			Mondelēz International			Emerging Markets			Developed Markets
For the Three Months Ended December 31, 2018
Reported (GAAP)	$	763		$	1,429		$	2,752		$	1,829		$	6,773		$	2,441		$	4,332
Acquisition		—			—			—			(22	)		(22	)		—			(22	)
Currency		172			74			128			9			383			283			100

Organic (Non-GAAP)	$	935		$	1,503		$	2,880		$	1,816		$	7,134		$	2,724		$	4,410
MEA cheese business divestiture		—			(34	)		—			—			(34	)		(34	)		—

Revised Organic (Non-GAAP)	$	935		$	1,469		$	2,880		$	1,816		$	7,100		$	2,690		$	4,410

For the Three Months Ended December 31, 2017
Reported (GAAP)	$	900		$	1,449		$	2,816		$	1,801		$	6,966		$	2,557		$	4,409
Divestitures		—			(4	)		(2	)		—			(6	)		—			(6	)

Organic (Non-GAAP)	$	900		$	1,445		$	2,814		$	1,801		$	6,960		$	2,557		$	4,403
MEA cheese business divestiture		—			(33	)		—			—			(33	)		(33	)		—

Revised Organic (Non-GAAP)	$	900		$	1,412		$	2,814		$	1,801		$	6,927		$	2,524		$	4,403

% Change
Reported (GAAP)		(15.2	)%		(1.4	)%		(2.3	)%		1.6	%		(2.8	)%		(4.5	)%		(1.7	)%
Organic (Non-GAAP)		3.9	%		4.0	%		2.3	%		0.8	%		2.5	%		6.5	%		0.2	%
Revised Organic (Non-GAAP)		3.9	%		4.0	%		2.3	%		0.8	%		2.5	%		6.6	%		0.2	%

Schedule 1.4

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Net Revenues

(in millions of U.S. dollars)

(Unaudited)


	Latin America			AMEA			Europe			North America			Mondelēz International			Emerging Markets			Developed Markets
For the Three Months Ended September 30, 2018
Reported (GAAP)	$	774		$	1,398		$	2,361		$	1,755		$	6,288		$	2,325		$	3,963
Acquisition		—			—			—			(23	)		(23	)		—			(23	)
Currency		176			68			71			8			323			266			57

Organic (Non-GAAP)	$	950		$	1,466		$	2,432		$	1,740		$	6,588		$	2,591		$	3,997
MEA cheese business divestiture		—			(29	)		—			—			(29	)		(29	)		—

Revised Organic (Non-GAAP)	$	950		$	1,437		$	2,432		$	1,740		$	6,559		$	2,562		$	3,997

For the Three Months Ended September 30, 2017
Reported (GAAP)	$	908		$	1,405		$	2,442		$	1,775		$	6,530		$	2,444		$	4,086
Divestitures		—			(4	)		(14	)		—			(18	)		—			(18	)

Organic (Non-GAAP)	$	908		$	1,401		$	2,428		$	1,775		$	6,512		$	2,444		$	4,068
MEA cheese business divestiture		—			(30	)		—			—			(30	)		(30	)		—

Revised Organic (Non-GAAP)	$	908		$	1,371		$	2,428		$	1,775		$	6,482		$	2,414		$	4,068

% Change
Reported (GAAP)		(14.8	)%		(0.5	)%		(3.3	)%		(1.1	)%		(3.7	)%		(4.9	)%		(3.0	)%
Organic (Non-GAAP)		4.6	%		4.6	%		0.2	%		(2.0	)%		1.2	%		6.0	%		(1.7	)%
Revised Organic (Non-GAAP)		4.6	%		4.8	%		0.2	%		(2.0	)%		1.2	%		6.1	%		(1.7	)%

Schedule 1.5

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Net Revenues

(in millions of U.S. dollars)

(Unaudited)


	Latin America			AMEA			Europe			North America			Mondelēz International			Emerging Markets			Developed Markets
For the Three Months Ended June 30, 2018
Reported (GAAP)	$	774		$	1,360		$	2,303		$	1,675		$	6,112		$	2,309		$	3,803
Acquisition		—			—			—			(7	)		(7	)		—			(7	)
Currency		106			(10	)		(116	)		(6	)		(26	)		104			(130	)

Organic (Non-GAAP)	$	880		$	1,350		$	2,187		$	1,662		$	6,079		$	2,413		$	3,666
MEA cheese business divestiture		—			(32	)		—			—			(32	)		(32	)		—

Revised Organic (Non-GAAP)	$	880		$	1,318		$	2,187		$	1,662		$	6,047		$	2,381		$	3,666

For the Three Months Ended June 30, 2017
Reported (GAAP)	$	848		$	1,394		$	2,171		$	1,573		$	5,986		$	2,304		$	3,682
Divestitures		—			(66	)		(44	)		—			(110	)		—			(110	)

Organic (Non-GAAP)	$	848		$	1,328		$	2,127		$	1,573		$	5,876		$	2,304		$	3,572
MEA cheese business divestiture		—			(33	)		—			—			(33	)		(33	)		—

Revised Organic (Non-GAAP)	$	848		$	1,295		$	2,127		$	1,573		$	5,843		$	2,271		$	3,572

% Change
Reported (GAAP)		(8.7	)%		(2.4	)%		6.1	%		6.5	%		2.1	%		0.2	%		3.3	%
Organic (Non-GAAP)		3.8	%		1.7	%		2.8	%		5.7	%		3.5	%		4.7	%		2.6	%
Revised Organic (Non-GAAP)		3.8	%		1.8	%		2.8	%		5.7	%		3.5	%		4.8	%		2.6	%

Schedule 1.6

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Net Revenues

(in millions of U.S. dollars)

(Unaudited)


	Latin America			AMEA			Europe			North America			Mondelēz International			Emerging Markets			Developed Markets
For the Three Months Ended March 31, 2018
Reported (GAAP)	$	891		$	1,542		$	2,706		$	1,626		$	6,765		$	2,584		$	4,181
Currency		39			(58	)		(311	)		(7	)		(337	)		(49	)		(288	)

Organic (Non-GAAP)	$	930		$	1,484		$	2,395		$	1,619		$	6,428		$	2,535		$	3,893
MEA cheese business divestiture		—			(31	)		—			—			(31	)		(31	)		—

Revised Organic (Non-GAAP)	$	930		$	1,453		$	2,395		$	1,619		$	6,397		$	2,504		$	3,893

For the Three Months Ended March 31, 2017
Reported (GAAP)	$	910		$	1,491		$	2,365		$	1,648		$	6,414		$	2,402		$	4,012
Divestitures		—			(59	)		(77	)		—			(136	)		—			(136	)

Organic (Non-GAAP)	$	910		$	1,432		$	2,288		$	1,648		$	6,278		$	2,402		$	3,876
MEA cheese business divestiture		—			(36	)		—			—			(36	)		(36	)		—

Revised Organic (Non-GAAP)	$	910		$	1,396		$	2,288		$	1,648		$	6,242		$	2,366		$	3,876

% Change
Reported (GAAP)		(2.1	)%		3.4	%		14.4	%		(1.3	)%		5.5	%		7.6	%		4.2	%
Organic (Non-GAAP)		2.2	%		3.6	%		4.7	%		(1.8	)%		2.4	%		5.5	%		0.4	%
Revised Organic (Non-GAAP)		2.2	%		4.1	%		4.7	%		(1.8	)%		2.5	%		5.8	%		0.4	%

Schedule 1.7

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Net Revenues

(in millions of U.S. dollars)

(Unaudited)


	Latin America			AMEA			Europe			North America			Mondelēz International			Emerging Markets			Developed Markets
For the Twelve Months Ended December 31, 2017
Reported (GAAP)	$	3,566		$	5,739		$	9,794		$	6,797		$	25,896		$	9,707		$	16,189
Divestitures		—			(133	)		(137	)		—			(270	)		—			(270	)
Acquisition		—			—			(59	)		—			(59	)		—			(59	)
Currency		(62	)		99			(96	)		(18	)		(77	)		(19	)		(58	)

Organic (Non-GAAP)	$	3,504		$	5,705		$	9,502		$	6,779		$	25,490		$	9,688		$	15,802
MEA cheese business divestiture		—			(132	)		—			—			(132	)		(132	)		—

Revised Organic (Non-GAAP)	$	3,504		$	5,573		$	9,502		$	6,779		$	25,358		$	9,556		$	15,802

For the Twelve Months Ended December 31, 2016
Reported (GAAP)	$	3,392		$	5,816		$	9,755		$	6,960		$	25,923		$	9,357		$	16,566
Divestitures		(8	)		(261	)		(371	)		(13	)		(653	)		(10	)		(643	)

Organic (Non-GAAP)	$	3,384		$	5,555		$	9,384		$	6,947		$	25,270		$	9,347		$	15,923
MEA cheese business divestiture		—			(161	)		—			—			(161	)		(161	)		—

Revised Organic (Non-GAAP)	$	3,384		$	5,394		$	9,384		$	6,947		$	25,109		$	9,186		$	15,923

% Change
Reported (GAAP)		5.1	%		(1.3	)%		0.4	%		(2.3	)%		(0.1	)%		3.7	%		(2.3	)%
Organic (Non-GAAP)		3.5	%		2.7	%		1.3	%		(2.4	)%		0.9	%		3.6	%		(0.8	)%
Revised Organic (Non-GAAP)		3.5	%		3.3	%		1.3	%		(2.4	)%		1.0	%		4.0	%		(0.8	)%

Schedule 2.1

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Gross Profit / Operating Income

(in millions of U.S. dollars)

(Unaudited)


	For the Three Months Ended March 31, 2019
	Net Revenues			Gross Profit			Gross Profit Margin			Operating Income			Operating Income Margin
Reported (GAAP)	$	6,538		$	2,593			39.7	%	$	1,036			15.8	%
Simplify to Grow Program		—			21						70
Mark-to-market (gains)/losses from derivatives		—			(17	)					(16	)
Divestiture-related costs		—			—						(1	)
Remeasurement of net monetary position		—			—						2
CEO transition remuneration		—			—						3

Adjusted (Non-GAAP)	$	6,538		$	2,597			39.7	%	$	1,094			16.7	%
Operating income from MEA cheese business divestiture		(33	)		(6	)					(4	)

Revised Adjusted (Non-GAAP)	$	6,505		$	2,591			39.8	%	$	1,090			16.8	%

Currency					190						87

Revised Adjusted @ Constant FX (Non-GAAP)				$	2,781					$	1,177


	For the Three Months Ended March 31, 2018
	Net Revenues			Gross Profit			Gross Profit Margin			Operating Income			Operating Income Margin
Reported (GAAP)	$	6,765		$	2,849			42.1	%	$	1,224			18.1	%
Simplify to Grow Program		—			23						114
Mark-to-market (gains)/losses from derivatives		—			(206	)					(206	)
Acquisition integration costs		—			—						1
Divestiture-related costs		—			—						(3	)
CEO transition remuneration		—			—						4
Rounding		—			—						(1	)

Adjusted (Non-GAAP)	$	6,765		$	2,666			39.4	%	$	1,133			16.7	%
Operating income from MEA cheese business divestiture		(31	)		(7	)					(6	)

Revised Adjusted (Non-GAAP)	$	6,734		$	2,659			39.5	%	$	1,127			16.7	%


				Gross Profit						Operating Income
$ Change - Reported (GAAP)				$	(256	)				$	(188	)
$ Change - Adjusted (Non-GAAP)					(69	)					(39	)
$ Change - Revised Adjusted (Non-GAAP)					(68	)					(37	)
$ Change - Revised Adjusted @ Constant FX (Non-GAAP)					122						50
% Change - Reported (GAAP)					(9.0	)%					(15.4	)%
% Change - Adjusted (Non-GAAP)					(2.6	)%					(3.4	)%
% Change - Revised Adjusted (Non-GAAP)					(2.6	)%					(3.3	)%
% Change - Revised Adjusted @ Constant FX (Non-GAAP)					4.6	%					4.4	%

Schedule 2.2

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Gross Profit / Operating Income

(in millions of U.S. dollars)

(Unaudited)


	For the Twelve Months Ended December 31, 2018
	Net Revenues			Gross Profit			Gross Profit Margin			Operating Income			Operating Income Margin
Reported (GAAP)	$	25,938		$	10,352			39.9	%	$	3,312			12.8	%
Simplify to Grow Program		—			189						626
Intangible asset impairment charges		—			—						68
Mark-to-market (gains)/losses from derivatives		—			(140	)					(141	)
Acquisition integration costs		—			—						3
Acquisition-related costs		—			—						13
Divestiture-related costs		—			—						(1	)
Remeasurement of net monetary position		—			—						11
Impact of pension participation changes		—			—						423
Impacts from resolution of tax matters		—			(1	)					(15	)
CEO transition remuneration		—			—						22
Rounding		—			1						—

Adjusted (Non-GAAP)	$	25,938		$	10,401			40.1	%	$	4,321			16.7	%
Operating income from MEA cheese business divestiture		(126	)		(28	)					(19	)

Revised Adjusted (Non-GAAP)	$	25,812		$	10,373			40.2	%	$	4,302			16.7	%

Currency					128						55

Revised Adjusted @ Constant FX (Non-GAAP)				$	10,501					$	4,357


	For the Twelve Months Ended December 31, 2017
	Net Revenues			Gross Profit			Gross Profit Margin			Operating Income			Operating Income Margin
Reported (GAAP)	$	25,896		$	10,034			38.7	%	$	3,462			13.4	%
Simplify to Grow Program		—			61						777
Intangible asset impairment charges		—			—						109
Mark-to-market (gains)/losses from derivatives		—			96						96
Malware incident incremental expenses		—			62						84
Acquisition integration costs		—			—						3
Divestiture-related costs		—			2						31
Operating income from divestitures		(270	)		(79	)					(61	)
(Gain)/loss on divestitures		—			—						(186	)
Impacts from resolution of tax matters		—			—						(209	)
CEO transition remuneration		—			—						14
Rounding		—			1						(1	)

Adjusted (Non-GAAP)	$	25,626		$	10,177			39.7	%	$	4,119			16.1	%
Operating income from MEA cheese business divestiture		(132	)		(39	)					(31	)

Revised Adjusted (Non-GAAP)	$	25,494		$	10,138			39.8	%	$	4,088			16.0	%


				Gross Profit						Operating Income
$ Change - Reported (GAAP)				$	318					$	(150	)
$ Change - Adjusted (Non-GAAP)					224						202
$ Change - Revised Adjusted (Non-GAAP)					235						214
$ Change - Revised Adjusted @ Constant FX (Non-GAAP)					363						269
% Change - Reported (GAAP)					3.2	%					(4.3	)%
% Change - Adjusted (Non-GAAP)					2.2	%					4.9	%
% Change - Revised Adjusted (Non-GAAP)					2.3	%					5.2	%
% Change - Revised Adjusted @ Constant FX (Non-GAAP)					3.6	%					6.6	%

Schedule 2.3

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Gross Profit / Operating Income

(in millions of U.S. dollars)

(Unaudited)


	For the Three Months Ended December 31, 2018
	Net Revenues			Gross Profit			Gross Profit Margin			Operating Income			Operating Income Margin
Reported (GAAP)	$	6,773		$	2,549			37.6	%	$	870			12.8	%
Simplify to Grow Program		—			121						194
Mark-to-market (gains)/losses from derivatives		—			40						40
Acquisition integration costs		—			—						1
Acquisition-related costs		—			—						(1	)
Divestiture-related costs		—			—						2
Remeasurement of net monetary position		—			—						(2	)
Impact of pension participation changes		—			—						15
Impacts from resolution of tax matters		—			(1	)					(26	)
CEO transition remuneration		—			—						4
Rounding		—			1						(1	)

Adjusted (Non-GAAP)	$	6,773		$	2,710			40.0	%	$	1,096			16.2	%
Operating income from MEA cheese business divestiture		(34	)		(7	)					(5	)

Revised Adjusted (Non-GAAP)	$	6,739		$	2,703			40.1	%	$	1,091			16.2	%

Currency					155						74

Revised Adjusted @ Constant FX (Non-GAAP)				$	2,858					$	1,165


	For the Three Months Ended December 31, 2017
	Net Revenues			Gross Profit			Gross Profit Margin			Operating Income			Operating Income Margin
Reported (GAAP)	$	6,966		$	2,653			38.1	%	$	830			11.9	%
Simplify to Grow Program		—			22						192
Mark-to-market (gains)/losses from derivatives		—			27						27
Malware incident incremental expenses		—			20						30
Acquisition integration costs		—			—						1
Divestiture-related costs		—			(1	)					9
Operating income from divestitures		(6	)		(3	)					(1	)
(Gain)/loss on divestitures		—			—						(2	)
Impacts from resolution of tax matters		—			—						(8	)
CEO transition remuneration		—			—						14
Rounding		—			—						(1	)

Adjusted (Non-GAAP)	$	6,960		$	2,718			39.1	%	$	1,091			15.7	%
Operating income from MEA cheese business divestiture		(33	)		(6	)					(6	)

Revised Adjusted (Non-GAAP)	$	6,927		$	2,712			39.2	%	$	1,085			15.7	%


				Gross Profit						Operating Income
$ Change - Reported (GAAP)				$	(104	)				$	40
$ Change - Adjusted (Non-GAAP)					(8	)					5
$ Change - Revised Adjusted (Non-GAAP)					(9	)					6
$ Change - Revised Adjusted @ Constant FX (Non-GAAP)					146						80
% Change - Reported (GAAP)					(3.9	)%					4.8	%
% Change - Adjusted (Non-GAAP)					(0.3	)%					0.5	%
% Change - Revised Adjusted (Non-GAAP)					(0.3	)%					0.6	%
% Change - Revised Adjusted @ Constant FX (Non-GAAP)					5.4	%					7.4	%

Schedule 2.4

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Gross Profit / Operating Income

(in millions of U.S. dollars)

(Unaudited)


	For the Three Months Ended September 30, 2018
	Net Revenues			Gross Profit			Gross Profit Margin			Operating Income			Operating Income Margin
Reported (GAAP)	$	6,288		$	2,414			38.4	%	$	737			11.7	%
Simplify to Grow Program		—			25						139
Intangible asset impairment charges		—			—						68
Mark-to-market (gains)/losses from derivatives		—			114						112
Acquisition integration costs		—			—						(1	)
Acquisition-related costs		—			—						1
Remeasurement of net monetary position		—			—						13
CEO transition remuneration		—			—						4
Rounding		—			—						1

Adjusted (Non-GAAP)	$	6,288		$	2,553			40.6	%	$	1,074			17.1	%
Operating income from MEA cheese business divestiture		(29	)		(8	)					(6	)

Revised Adjusted (Non-GAAP)	$	6,259		$	2,545			40.7	%	$	1,068			17.1	%

Currency					127						60

Revised Adjusted @ Constant FX (Non-GAAP)				$	2,672					$	1,128


	For the Three Months Ended September 30, 2017
	Net Revenues			Gross Profit			Gross Profit Margin			Operating Income			Operating Income Margin
Reported (GAAP)	$	6,530		$	2,549			39.0	%	$	1,171			17.9	%
Simplify to Grow Program		—			18						175
Intangible asset impairment charges		—			—						71
Mark-to-market (gains)/losses from derivatives		—			(28	)					(28	)
Malware incident incremental expenses		—			39						47
Acquisition integration costs		—			—						1
Operating income from divestitures		(18	)		(4	)					(5	)
(Gain)/loss on divestitures		—			—						(187	)
Impacts from resolution of tax matters		—			—						(155	)
Rounding		—			—						(1	)

Adjusted (Non-GAAP)	$	6,512		$	2,574			39.5	%	$	1,089			16.7	%
Operating income from MEA cheese business divestiture		(30	)		(10	)					(7	)

Revised Adjusted (Non-GAAP)	$	6,482		$	2,564			39.6	%	$	1,082			16.7	%


				Gross Profit						Operating Income
$ Change - Reported (GAAP)				$	(135	)				$	(434	)
$ Change - Adjusted (Non-GAAP)					(21	)					(15	)
$ Change - Revised Adjusted (Non-GAAP)					(19	)					(14	)
$ Change - Revised Adjusted @ Constant FX (Non-GAAP)					108						46
% Change - Reported (GAAP)					(5.3	)%					(37.1	)%
% Change - Adjusted (Non-GAAP)					(0.8	)%					(1.4	)%
% Change - Revised Adjusted (Non-GAAP)					(0.7	)%					(1.3	)%
% Change - Revised Adjusted @ Constant FX (Non-GAAP)					4.2	%					4.3	%

Schedule 2.5

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Gross Profit / Operating Income

(in millions of U.S. dollars)

(Unaudited)


	For the Three Months Ended June 30, 2018
	Net Revenues			Gross Profit			Gross Profit Margin			Operating Income			Operating Income Margin
Reported (GAAP)	$	6,112		$	2,540			41.6	%	$	481			7.9	%
Simplify to Grow Program		—			20						179
Mark-to-market (gains)/losses from derivatives		—			(88	)					(88	)
Acquisition integration costs		—			—						2
Acquisition-related costs		—			—						13
Impact of pension participation changes		—			—						408
Impacts from resolution of tax matters		—			—						11
CEO transition remuneration		—			—						10
Rounding		—			—						2

Adjusted (Non-GAAP)	$	6,112		$	2,472			40.4	%	$	1,018			16.7	%
Operating income from MEA cheese business divestiture		(32	)		(6	)					(2	)

Revised Adjusted (Non-GAAP)	$	6,080		$	2,466			40.6	%	$	1,016			16.7	%

Currency					(21	)					(10	)

Revised Adjusted @ Constant FX (Non-GAAP)				$	2,445					$	1,006


	For the Three Months Ended June 30, 2017
	Net Revenues			Gross Profit			Gross Profit Margin			Operating Income			Operating Income Margin
Reported (GAAP)	$	5,986		$	2,314			38.7	%	$	636			10.6	%
Simplify to Grow Program		—			12						199
Intangible asset impairment charges		—			—						38
Mark-to-market (gains)/losses from derivatives		—			46						46
Malware incident incremental expenses		—			4						7
Divestiture-related costs		—			1						4
Operating income from divestitures		(110	)		(37	)					(28	)
(Gain)/loss on divestitures		—			—						3
Rounding		—			—						1

Adjusted (Non-GAAP)	$	5,876		$	2,340			39.8	%	$	906			15.4	%
Operating income from MEA cheese business divestiture		(33	)		(10	)					(7	)

Revised Adjusted (Non-GAAP)	$	5,843		$	2,330			39.9	%	$	899			15.4	%


				Gross Profit						Operating Income
$ Change - Reported (GAAP)				$	226					$	(155	)
$ Change - Adjusted (Non-GAAP)					132						112
$ Change - Revised Adjusted (Non-GAAP)					136						117
$ Change - Revised Adjusted @ Constant FX (Non-GAAP)					115						107
% Change - Reported (GAAP)					9.8	%					(24.4	)%
% Change - Adjusted (Non-GAAP)					5.6	%					12.4	%
% Change - Revised Adjusted (Non-GAAP)					5.8	%					13.0	%
% Change - Revised Adjusted @ Constant FX (Non-GAAP)					4.9	%					11.9	%

Schedule 2.6

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Gross Profit / Operating Income

(in millions of U.S. dollars)

(Unaudited)


	For the Three Months Ended March 31, 2018
	Net Revenues			Gross Profit			Gross Profit Margin			Operating Income			Operating Income Margin
Reported (GAAP)	$	6,765		$	2,849			42.1	%	$	1,224			18.1	%
Simplify to Grow Program		—			23						114
Mark-to-market (gains)/losses from derivatives		—			(206	)					(206	)
Acquisition integration costs		—			—						1
Divestiture-related costs		—			—						(3	)
CEO transition remuneration		—			—						4
Rounding		—			—						(1	)

Adjusted (Non-GAAP)	$	6,765		$	2,666			39.4	%	$	1,133			16.7	%
Operating income from MEA cheese business divestiture		(31	)		(7	)					(6	)

Revised Adjusted (Non-GAAP)	$	6,734		$	2,659			39.5	%	$	1,127			16.7	%

Currency					(133	)					(69	)

Revised Adjusted @ Constant FX (Non-GAAP)				$	2,526					$	1,058


	For the Three Months Ended March 31, 2017
	Net Revenues			Gross Profit			Gross Profit Margin			Operating Income			Operating Income Margin
Reported (GAAP)	$	6,414		$	2,518			39.3	%	$	825			12.9	%
Simplify to Grow Program		—			9						211
Mark-to-market (gains)/losses from derivatives		—			51						51
Acquisition integration costs		—			—						1
Divestiture-related costs		—			2						19
Operating income from divestitures		(136	)		(35	)					(27	)
Impacts from resolution of tax matters		—			—						(46	)
Rounding		—			—						(1	)

Adjusted (Non-GAAP)	$	6,278		$	2,545			40.5	%	$	1,033			16.5	%
Operating income from MEA cheese business divestiture		(36	)		(13	)					(11	)

Revised Adjusted (Non-GAAP)	$	6,242		$	2,532			40.6	%	$	1,022			16.4	%


				Gross Profit						Operating Income
$ Change - Reported (GAAP)				$	331					$	399
$ Change - Adjusted (Non-GAAP)					121						100
$ Change - Revised Adjusted (Non-GAAP)					127						105
$ Change - Revised Adjusted @ Constant FX (Non-GAAP)					(6	)					36
% Change - Reported (GAAP)					13.1	%					48.4	%
% Change - Adjusted (Non-GAAP)					4.8	%					9.7	%
% Change - Revised Adjusted (Non-GAAP)					5.0	%					10.3	%
% Change - Revised Adjusted @ Constant FX (Non-GAAP)					(0.2	)%					3.5	%

Schedule 2.7

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Gross Profit / Operating Income

(in millions of U.S. dollars)

(Unaudited)


	For the Twelve Months Ended December 31, 2017
	Net Revenues			Gross Profit			Gross Profit Margin			Operating Income			Operating Income Margin
Reported (GAAP)	$	25,896		$	10,034			38.7	%	$	3,462			13.4	%
Simplify to Grow Program		—			61						777
Intangible asset impairment charges		—			—						109
Mark-to-market (gains)/losses from derivatives		—			96						96
Malware incident incremental expenses		—			62						84
Acquisition integration costs		—			—						3
Divestiture-related costs		—			2						31
Operating income from divestitures		(270	)		(79	)					(61	)
(Gain)/loss on divestitures		—			—						(186	)
Impacts from resolution of tax matters		—			—						(209	)
CEO transition remuneration		—			—						14
Rounding		—			1						(1	)

Adjusted (Non-GAAP)	$	25,626		$	10,177			39.7	%	$	4,119			16.1	%
Operating income from MEA cheese business divestiture		(132	)		(39	)					(31	)

Revised Adjusted (Non-GAAP)	$	25,494		$	10,138			39.8	%	$	4,088			16.0	%

Currency					(40	)					(3	)

Revised Adjusted @ Constant FX (Non-GAAP)				$	10,098					$	4,085


	For the Twelve Months Ended December 31, 2016
	Net Revenues			Gross Profit			Gross Profit Margin			Operating Income			Operating Income Margin
Reported (GAAP)	$	25,923		$	10,104			39.0	%	$	2,554			9.9	%
Simplify to Grow Program		—			91						1,072
Intangible asset impairment charges		—			—						137
Mark-to-market (gains)/losses from derivatives		—			94						94
Acquisition integration costs		—			—						7
Acquisition-related costs		—			—						1
Divestiture-related costs		—			8						86
Operating income from divestitures		(653	)		(198	)					(153	)
(Gain)/loss on divestitures		—			—						(9	)
(Income)/costs associated with the JDE coffee business transactions		—			—						(2	)
(Gain)/loss on sale of intangible assets		—			—						(15	)
Rounding		—			(1	)					1

Adjusted (Non-GAAP)	$	25,270		$	10,098			40.0	%	$	3,773			14.9	%
Operating income from MEA cheese business divestiture		(161	)		(54	)					(40	)

Revised Adjusted (Non-GAAP)	$	25,109		$	10,044			40.0	%	$	3,733			14.9	%


				Gross Profit						Operating Income
$ Change - Reported (GAAP)				$	(70	)				$	908
$ Change - Adjusted (Non-GAAP)					79						346
$ Change - Revised Adjusted (Non-GAAP)					94						355
$ Change - Revised Adjusted @ Constant FX (Non-GAAP)					54						352
% Change - Reported (GAAP)					(0.7	)%					35.6	%
% Change - Adjusted (Non-GAAP)					0.8	%					9.2	%
% Change - Revised Adjusted (Non-GAAP)					0.9	%					9.5	%
% Change - Revised Adjusted @ Constant FX (Non-GAAP)					0.5	%					9.4	%

Schedule 3.1

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Net Earnings and Tax Rate

(in millions of U.S. dollars and shares, except per share data)

(Unaudited)


	For the Three Months Ended March 31, 2019
	Operating Income			Benefit plan non- service expense / (income)			Interest and other expense, net		Earnings before income taxes			Income taxes ⁽¹⁾			Effective tax rate			Gain on equity method investment transactions			Equity method investment net losses / (earnings)			Non-controlling interest		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP)	$	1,036		$	(17	)	$	80	$	973		$	189			19.4	%	$	(23	)	$	(113	)	$	6	$	914		$	0.63
Simplify to Grow Program		70			—			—		70			19						—			—			—		51			0.03
Mark-to-market (gains)/losses from derivatives		(16	)		—			—		(16	)		(3	)					—			—			—		(13	)		(0.01	)
Divestiture-related costs		(1	)		—			—		(1	)		—						—			—			—		(1	)		—
Remeasurement of net monetary position		2			—			—		2			—						—			—			—		2			—
CEO transition remuneration		3			—			—		3			—						—			—			—		3			—
U.S. tax reform discrete net tax (benefit)/expense		—			—			—		—			(1	)					—			—			—		1			—
Gain on equity method investment transaction		—			—			—		—			(5	)					23			—			—		(18	)		(0.01	)
Equity method investee acquisition-related and other adjustments		—			—			—		—			4						—			(17	)		—		13			0.01

Adjusted (Non-GAAP)	$	1,094		$	(17	)	$	80	$	1,031		$	203			19.7	%	$	—		$	(130	)	$	6	$	952		$	0.65
Net earnings from MEA cheese business divestiture		(4	)		—			—		(4	)		—						—			—			—		(4	)		—

Revised Adjusted (Non-GAAP)	$	1,090		$	(17	)	$	80	$	1,027		$	203			19.8	%	$	—		$	(130	)	$	6	$	948		$	0.65

Currency																											84			0.06

Revised Adjusted @ Constant FX (Non-GAAP)																										$	1,032		$	0.71

Diluted Average Shares Outstanding																														1,461

	For the Three Months Ended March 31, 2018
	Operating Income			Benefit plan non- service expense / (income)			Interest and other expense, net		Earnings before income taxes			Income taxes ⁽¹⁾			Effective tax rate			Gain on equity method investment transactions			Equity method investment net losses / (earnings)			Non-controlling interest		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP)	$	1,224		$	(13	)	$	80	$	1,157		$	337			29.1	%	$	—		$	(232	)	$	6	$	1,046		$	0.70
Simplify to Grow Program		114			—			—		114			30						—			—			—		84			0.06
Mark-to-market (gains)/losses from derivatives		(206	)		—			—		(206	)		(25	)					—			—			—		(181	)		(0.12	)
Acquisition integration costs		1			—			—		1			—						—			—			—		1			—
Divestiture-related costs		(3	)		—			—		(3	)		(2	)					—			—			—		(1	)		—
CEO transition remuneration		4			—			—		4			1						—			—			—		3			—
(Gain)/loss related to interest rate swaps		—			—			14		(14	)		(3	)					—			—			—		(11	)		(0.01	)
U.S. tax reform discrete net tax (benefit)/expense		—			—			—		—			(89	)					—			—			—		89			0.06
Equity method investee acquisition-related and other adjustments		—			—			—		—			(27	)					—			113			—		(86	)		(0.06	)
Rounding		(1	)		—			—		(1	)		—						—			—			—		(1	)		—

Adjusted (Non-GAAP)	$	1,133		$	(13	)	$	94	$	1,052		$	222			21.1	%	$	—		$	(119	)	$	6	$	943		$	0.63
Net earnings from MEA cheese business divestiture		(6	)		—			—		(6	)		1						—			—			—		(7	)		(0.01	)

Revised Adjusted (Non-GAAP)	$	1,127		$	(13	)	$	94	$	1,046		$	223			21.3	%	$	—		$	(119	)	$	6	$	936		$	0.62

Diluted Average Shares Outstanding																														1,505

⁽¹⁾	Taxes were computed for each of the items excluded from the company’s GAAP results based on the facts and tax assumptions associated with each item.

Schedule 3.2

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Net Earnings and Tax Rate

(in millions of U.S. dollars and shares, except per share data)

(Unaudited)


	For the Twelve Months Ended December 31, 2018
	Operating Income			Benefit plan non- service expense / (income)			Interest and other expense, net			Earnings before income taxes			Income taxes ⁽¹⁾			Effective tax rate			Gain on Equity Method Investment Transactions			Equity Method Investment Net Losses / (Earnings)			Non-controlling interest		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP)	$	3,312		$	(50	)	$	520		$	2,842		$	773			27.2	%	$	(778	)	$	(548	)	$	14	$	3,381		$	2.28
Simplify to Grow Program		626			(5	)		—			631			156						—			—			—		475			0.32
Intangible asset impairment charges		68			—			—			68			16						—			—			—		52			0.03
Mark-to-market (gains)/losses from derivatives		(141	)		—			1			(142	)		(10	)					—			—			—		(132	)		(0.09	)
Acquisition integration costs		3			—			—			3			—						—			—			—		3			—
Acquisition-related costs		13			—			—			13			3						—			—			—		10			0.01
Divestiture-related costs		(1	)		—			—			(1	)		(2	)					—			—			—		1			—
Remeasurement of net monetary position		11			—			—			11			—						—			—			—		11			0.01
Impact of pension participation changes		423			—			(6	)		429			108						—			—			—		321			0.22
Impacts from resolution of tax matters		(15	)		—			(4	)		(11	)		6						—			—			—		(17	)		(0.01	)
CEO transition remuneration		22			—			—			22			5						—			—			—		17			0.01
(Gain)/loss related to interest rate swaps		—			—			10			(10	)		(2	)					—			—			—		(8	)		(0.01	)
Loss on debt extinguishment and related expenses		—			—			(140	)		140			35						—			—			—		105			0.07
U.S. tax reform discrete net tax (benefit)/expense		—			—			—			—			(19	)					—			—			—		19			0.01
Gain on equity method investment transactions		—			—			—			—			(192	)					778			—			—		(586	)		(0.39	)
Equity method investee acquisition-related and other adjustments		—			—			—			—			(16	)					—			54			—		(38	)		(0.03	)

Adjusted (Non-GAAP)	$	4,321		$	(55	)	$	381		$	3,995		$	861			21.6	%	$	—		$	(494	)	$	14	$	3,614		$	2.43
Net earnings from MEA cheese business divestiture		(19	)		—			—			(19	)		—						—			—			—		(19	)		(0.01	)

Revised Adjusted (Non-GAAP)	$	4,302		$	(55	)	$	381		$	3,976		$	861			21.7	%	$	—		$	(494	)	$	14	$	3,595		$	2.42

Currency																												41			0.03

Revised Adjusted @ Constant FX (Non-GAAP)																											$	3,636		$	2.45

Diluted Average Shares Outstanding																															1,486

	For the Twelve Months Ended December 31, 2017
	Operating Income			Benefit plan non- service expense / (income)			Interest and other expense, net			Earnings before income taxes			Income taxes ⁽¹⁾			Effective tax rate			Gain on Equity Method Investment Transactions			Equity Method Investment Net Losses / (Earnings)			Non-controlling interest		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP)	$	3,462		$	(44	)	$	382		$	3,124		$	666			21.3	%	$	(40	)	$	(344	)	$	14	$	2,828		$	1.85
Simplify to Grow Program		777			(15	)		—			792			190						—			—			—		602			0.39
Intangible asset impairment charges		109			—			—			109			30						—			—			—		79			0.05
Mark-to-market (gains)/losses from derivatives		96			—			—			96			6						—			—			—		90			0.06
Malware incident incremental expenses		84			—			—			84			27						—			—			—		57			0.04
Acquisition integration costs		3			—			—			3			—						—			—			—		3			—
Divestiture-related costs		31			—			(3	)		34			(8	)					—			—			—		42			0.02
Net earnings from divestitures		(61	)		—			—			(61	)		(15	)					—			6			—		(52	)		(0.03	)
(Gain)/loss on divestitures		(186	)		—			—			(186	)		(7	)					—			—			—		(179	)		(0.11	)
Impacts from resolution of tax matters		(209	)		—			72			(281	)		(75	)					—			—			—		(206	)		(0.13	)
CEO transition remuneration		14			—			—			14			5						—			—			—		9			0.01
Loss on debt extinguishment and related expenses		—			—			(11	)		11			4						—			—			—		7			—
U.S. tax reform discrete net tax (benefit)/expense		—			—			—			—			44						—			—			—		(44	)		(0.03	)
Gain on equity method investment transactions		—			—			—			—			(15	)					40			—			—		(25	)		(0.02	)
Equity method investee acquisition-related and other adjustments		—			—			—			—			10						—			(69	)		—		59			0.04
Rounding		(1	)		—			—			(1	)		—						—			—			—		(1	)		—

Adjusted (Non-GAAP)	$	4,119		$	(59	)	$	440		$	3,738		$	862			23.1	%	$	—		$	(407	)	$	14	$	3,269		$	2.14
Net earnings from MEA cheese business divestiture		(31	)		—			—			(31	)		(1	)					—			—			—		(30	)		(0.02	)

Revised Adjusted (Non-GAAP)	$	4,088		$	(59	)	$	440		$	3,707		$	861			23.2	%	$	—		$	(407	)	$	14	$	3,239		$	2.12

Diluted Average Shares Outstanding																															1,531

⁽¹⁾	Taxes were computed for each of the items excluded from the company’s GAAP results based on the facts and tax assumptions associated with each item.

Schedule 3.3

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Net Earnings and Tax Rate

(in millions of U.S. dollars and shares, except per share data)

(Unaudited)


	For the Three Months Ended December 31, 2018
	Operating Income			Benefit plan non- service expense / (income)			Interest and other expense, net			Earnings before income taxes			Income taxes ⁽¹⁾			Effective tax rate			Gain on Equity Method Investment Transactions			Equity Method Investment Net Losses / (Earnings)			Non- controlling interest		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP)	$	870		$	(3	)	$	106		$	767		$	111			14.5	%	$	(21	)	$	(149	)	$	3	$	823		$	0.56
Simplify to Grow Program		194			(2	)		—			196			45						—			—			—		151			0.10
Mark-to-market (gains)/losses from derivatives		40			—			2			38			17						—			—			—		21			0.01
Acquisition integration costs		1			—			—			1			—						—			—			—		1			—
Acquisition-related costs		(1	)		—			—			(1	)		—						—			—			—		(1	)		—
Divestiture-related costs		2			—			—			2			—						—			—			—		2			—
Remeasurement of net monetary position		(2	)		—			—			(2	)		—						—			—			—		(2	)		—
Impact of pension participation changes		15			—			(3	)		18			4						—			—			—		14			0.01
Impacts from resolution of tax matters		(26	)		—			—			(26	)		(9	)					—			—			—		(17	)		(0.01	)
CEO transition remuneration		4			—			—			4			1						—			—			—		3			—
U.S. tax reform discrete net tax (benefit)/expense		—			—			—			—			77						—			—			—		(77	)		(0.05	)
Gain on equity method investment transactions		—			—			—			—			(8	)					21			—			—		(13	)		(0.01	)
Equity method investee acquisition-related and other adjustments		—			—			—			—			8						—			(32	)		—		24			0.02
Rounding		(1	)		—			—			(1	)		—						—			—			—		(1	)		—

Adjusted (Non-GAAP)	$	1,096		$	(5	)	$	105		$	996		$	246			24.7	%	$	—		$	(181	)	$	3	$	928		$	0.63
Net earnings from MEA cheese business divestiture		(5	)		—			—			(5	)		1						—			—			—		(6	)		—

Revised Adjusted (Non-GAAP)	$	1,091		$	(5	)	$	105		$	991		$	247			24.9	%	$	—		$	(181	)	$	3	$	922		$	0.63

Currency																												68			0.04

Revised Adjusted @ Constant FX (Non-GAAP)																											$	990		$	0.67

Diluted Average Shares Outstanding																															1,470

	For the Three Months Ended December 31, 2017
	Operating Income			Benefit plan non- service expense / (income)			Interest and other expense, net			Earnings before income taxes			Income taxes ⁽¹⁾			Effective tax rate			Gain on Equity Method Investment Transactions			Equity Method Investment Net Losses / (Earnings)			Non-controlling interest		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP)	$	830		$	(14	)	$	120		$	724		$	156			21.5	%	$	(40	)	$	(95	)	$	8	$	695		$	0.46
Simplify to Grow Program		192			(3	)		—			195			35						—			—			—		160			0.11
Mark-to-market (gains)/losses from derivatives		27			—			—			27			6						—			—			—		21			0.01
Malware incident incremental expenses		30			—			—			30			10						—			—			—		20			0.01
Acquisition integration costs		1			—			—			1			—						—			—			—		1			—
Divestiture-related costs		9			—			—			9			5						—			—			—		4			—
Net earnings from divestitures		(1	)		—			—			(1	)		—						—			—			—		(1	)		—
(Gain)/loss on divestitures		(2	)		—			—			(2	)		5						—			—			—		(7	)		—
Impacts from resolution of tax matters		(8	)		—			—			(8	)		(3	)					—			—			—		(5	)		—
CEO transition remuneration		14			—			—			14			5						—			—			—		9			0.01
U.S. tax reform discrete net tax (benefit)/expense		—			—			—			—			44						—			—			—		(44	)		(0.03	)
Gain on equity method investment transactions		—			—			—			—			(15	)					40			—			—		(25	)		(0.02	)
Equity method investee acquisition-related and other adjustments		—			—			—			—			2						—			(21	)		—		19			0.01
Rounding		(1	)		—			—			(1	)		—						—			—			—		(1	)		—

Adjusted (Non-GAAP)	$	1,091		$	(17	)	$	120		$	988		$	250			25.3	%	$	—		$	(116	)	$	8	$	846		$	0.56
Net earnings from MEA cheese business divestiture		(6	)		—			—			(6	)		(1	)					—			—			—		(5	)		—

Revised Adjusted (Non-GAAP)	$	1,085		$	(17	)	$	120		$	982		$	249			25.4	%	$	—		$	(116	)	$	8	$	841		$	0.56

Diluted Average Shares Outstanding																															1,513

⁽¹⁾	Taxes were computed for each of the items excluded from the company’s GAAP results based on the facts and tax assumptions associated with each item.

Schedule 3.4

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Net Earnings and Tax Rate

(in millions of U.S. dollars and shares, except per share data)

(Unaudited)


	For the Three Months Ended September 30, 2018
	Operating Income			Benefit plan non- service expense / (income)			Interest and other expense, net			Earnings before income taxes			Income taxes ⁽¹⁾			Effective tax rate			Gain on Equity Method Investment Transactions			Equity Method Investment Net Losses / (Earnings)			Non-controlling interest		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP)	$	737		$	(19	)	$	86		$	670		$	310			46.3	%	$	(757	)	$	(80	)	$	3	$	1,194		$	0.81
Simplify to Grow Program		139			—			—			139			34						—			—			—		105			0.07
Intangible asset impairment charges		68			—			—			68			16						—			—			—		52			0.03
Mark-to-market (gains)/losses from derivatives		112			—			(1	)		113			12						—			—			—		101			0.07
Acquisition integration costs		(1	)		—			—			(1	)		—						—			—			—		(1	)		—
Acquisition-related costs		1			—			—			1			—						—			—			—		1			—
Remeasurement of net monetary position		13			—			—			13			—						—			—			—		13			0.01
Impact of pension participation changes		—			—			(3	)		3			1						—			—			—		2			—
CEO transition remuneration		4			—			—			4			1						—			—			—		3			—
(Gain)/loss related to interest rate swaps		—			—			1			(1	)		—						—			—			—		(1	)		—
U.S. tax reform discrete net tax (benefit)/expense		—			—			—			—			(9	)					—			—			—		9			0.01
Gain on equity method investment transactions		—			—			—			—			(184	)					757			—			—		(573	)		(0.39	)
Equity method investee acquisition-related and other adjustments		—			—			—			—			2						—			(20	)		—		18			0.01
Rounding		1			—			—			1			—						—			—			—		1			—

Adjusted (Non-GAAP)	$	1,074		$	(19	)	$	83		$	1,010		$	183			18.1	%	$	—		$	(100	)	$	3	$	924		$	0.62
Net earnings from MEA cheese business divestiture		(6	)		—			—			(6	)		—						—			—			—		(6	)		—

Revised Adjusted (Non-GAAP)	$	1,068		$	(19	)	$	83		$	1,004		$	183			18.2	%	$	—		$	(100	)	$	3	$	918		$	0.62

Currency																												56			0.04

Revised Adjusted @ Constant FX (Non-GAAP)																											$	974		$	0.66

Diluted Average Shares Outstanding																															1,480

	For the Three Months Ended September 30, 2017
	Operating Income			Benefit plan non- service expense / (income)			Interest and other expense, net			Earnings before income taxes			Income taxes ⁽¹⁾			Effective tax rate			Gain on Equity Method Investment Transactions			Equity Method Investment Net Losses / (Earnings)			Non-controlling interest		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP)	$	1,171		$	(10	)	$	19		$	1,162		$	272			23.4	%	$	—		$	(92	)	$	1	$	981		$	0.64
Simplify to Grow Program		175			—			—			175			49						—			—			—		126			0.08
Intangible asset impairment charges		71			—			—			71			16						—			—			—		55			0.04
Mark-to-market (gains)/losses from derivatives		(28	)		—			—			(28	)		(3	)					—			—			—		(25	)		(0.02	)
Malware incident incremental expenses		47			—			—			47			15						—			—			—		32			0.02
Acquisition integration costs		1			—			—			1			—						—			—			—		1			—
Divestiture-related costs		—			—			2			(2	)		(18	)					—			—			—		16			0.01
Net earnings from divestitures		(5	)		—			—			(5	)		—						—			2			—		(7	)		—
(Gain)/loss on divestitures		(187	)		—			—			(187	)		(8	)					—			—			—		(179	)		(0.12	)
Impacts from resolution of tax matters		(155	)		—			60			(215	)		(72	)					—			—			—		(143	)		(0.09	)
Equity method investee acquisition-related and other adjustments		—			—			—			—			1						—			(3	)		—		2			—
Rounding		(1	)		—			—			(1	)		—						—			—			—		(1	)		—

Adjusted (Non-GAAP)	$	1,089		$	(10	)	$	81		$	1,018		$	252			24.8	%	$	—		$	(93	)	$	1	$	858		$	0.56
Net earnings from MEA cheese business divestiture		(7	)		—			—			(7	)		—						—			—			—		(7	)		—

Revised Adjusted (Non-GAAP)	$	1,082		$	(10	)	$	81		$	1,011		$	252			24.9	%	$	—		$	(93	)	$	1	$	851		$	0.56

Diluted Average Shares Outstanding																															1,524

⁽¹⁾	Taxes were computed for each of the items excluded from the company’s GAAP results based on the facts and tax assumptions associated with each item.

Schedule 3.5

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Net Earnings and Tax Rate

(in millions of U.S. dollars and shares, except per share data)

(Unaudited)


	For the Three Months Ended June 30, 2018
	Operating Income			Benefit plan non- service expense / (income)			Interest and other expense, net			Earnings before income taxes			Income taxes ⁽¹⁾			Effective tax rate			Equity Method Investment Net Losses / (Earnings)			Non-controlling interest		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP)	$	481		$	(15	)	$	248		$	248		$	15			6.0	%	$	(87	)	$	2	$	318		$	0.21
Simplify to Grow Program		179			(3	)		—			182			47						—			—		135			0.09
Mark-to-market (gains)/losses from derivatives		(88	)		—			—			(88	)		(14	)					—			—		(74	)		(0.05	)
Acquisition integration costs		2			—			—			2			—						—			—		2			—
Acquisition-related costs		13			—			—			13			3						—			—		10			0.01
Impact of pension participation changes		408			—			—			408			103						—			—		305			0.20
Impacts from resolution of tax matters		11			—			(4	)		15			15						—			—		—			—
CEO transition remuneration		10			—			—			10			2						—			—		8			0.01
(Gain)/loss related to interest rate swaps		—			—			(5	)		5			1						—			—		4			—
Loss on debt extinguishment and related expenses		—			—			(140	)		140			35						—			—		105			0.07
U.S. tax reform discrete net tax (benefit)/expense		—			—			—			—			2						—			—		(2	)		—
Equity method investee acquisition-related and other adjustments		—			—			—			—			1						(7	)		—		6			0.01
Rounding		2			—			—			2			—						—			—		2			—

Adjusted (Non-GAAP)	$	1,018		$	(18	)	$	99		$	937		$	210			22.4	%	$	(94	)	$	2	$	819		$	0.55
Net earnings from MEA cheese business divestiture		(2	)		—			—			(2	)		(2	)					—			—		—			—

Revised Adjusted (Non-GAAP)	$	1,016		$	(18	)	$	99		$	935		$	208			22.2	%	$	(94	)	$	2	$	819		$	0.55

Currency																									(11	)		(0.01	)

Revised Adjusted @ Constant FX (Non-GAAP)																								$	808		$	0.54

Diluted Average Shares Outstanding																												1,488

	For the Three Months Ended June 30, 2017
	Operating Income			Benefit plan non- service expense / (income)			Interest and other expense, net			Earnings before income taxes			Income taxes ⁽¹⁾			Effective tax rate			Equity Method Investment Net Losses / (Earnings)			Non-controlling interest		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP)	$	636		$	(5	)	$	124		$	517		$	84			16.2	%	$	(67	)	$	2	$	498		$	0.32
Simplify to Grow Program		199			(12	)		—			211			58						—			—		153			0.10
Intangible asset impairment charges		38			—			—			38			14						—			—		24			0.02
Mark-to-market (gains)/losses from derivatives		46			—			—			46			—						—			—		46			0.03
Malware incident incremental expenses		7			—			—			7			2						—			—		5			—
Divestiture-related costs		4			—			(5	)		9			2						—			—		7			—
Net earnings from divestitures		(28	)		—			—			(28	)		(8	)					2			—		(22	)		(0.01	)
(Gain)/loss on divestitures		3			—			—			3			(4	)					—			—		7			—
Loss on debt extinguishment and related expenses		—			—			(11	)		11			4						—			—		7			0.01
Equity method investee acquisition-related and other adjustments		—			—			—			—			4						(18	)		—		14			0.01
Rounding		1			—			—			1			—						—			—		1			—

Adjusted (Non-GAAP)	$	906		$	(17	)	$	108		$	815		$	156			19.1	%	$	(83	)	$	2	$	740		$	0.48
Net earnings from MEA cheese business divestiture		(7	)		—			—			(7	)		—						—			—		(7	)		—

Revised Adjusted (Non-GAAP)	$	899		$	(17	)	$	108		$	808		$	156			19.3	%	$	(83	)	$	2	$	733		$	0.48

Diluted Average Shares Outstanding																												1,539

⁽¹⁾	Taxes were computed for each of the items excluded from the company’s GAAP results based on the facts and tax assumptions associated with each item.

Schedule 3.6

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Net Earnings and Tax Rate

(in millions of U.S. dollars and shares, except per share data)

(Unaudited)


	For the Three Months Ended March 31, 2018
	Operating Income			Benefit plan non- service expense / (income)			Interest and other expense, net		Earnings before income taxes			Income taxes ⁽¹⁾			Effective tax rate			Equity Method Investment Net Losses / (Earnings)			Non-controlling interest		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP)	$	1,224		$	(13	)	$	80	$	1,157		$	337			29.1	%	$	(232	)	$	6	$	1,046		$	0.70
Simplify to Grow Program		114			—			—		114			30						—			—		84			0.06
Mark-to-market (gains)/losses from derivatives		(206	)		—			—		(206	)		(25	)					—			—		(181	)		(0.12	)
Acquisition integration costs		1			—			—		1			—						—			—		1			—
Divestiture-related costs		(3	)		—			—		(3	)		(2	)					—			—		(1	)		—
CEO transition remuneration		4			—			—		4			1						—			—		3			—
(Gain)/loss related to interest rate swaps		—			—			14		(14	)		(3	)					—			—		(11	)		(0.01	)
U.S. tax reform discrete net tax (benefit)/expense		—			—			—		—			(89	)					—			—		89			0.06
Equity method investee acquisition-related and other adjustments		—			—			—		—			(27	)					113			—		(86	)		(0.06	)
Rounding		(1	)		—			—		(1	)		—						—			—		(1	)		—

Adjusted (Non-GAAP)	$	1,133		$	(13	)	$	94	$	1,052		$	222			21.1	%	$	(119	)	$	6	$	943		$	0.63
Net earnings from MEA cheese business divestiture		(6	)		—			—		(6	)		1						—			—		(7	)		(0.01	)

Revised Adjusted (Non-GAAP)	$	1,127		$	(13	)	$	94	$	1,046		$	223			21.3	%	$	(119	)	$	6	$	936		$	0.62

Currency																								(72	)		(0.05	)

Revised Adjusted @ Constant FX (Non-GAAP)																							$	864		$	0.57

Diluted Average Shares Outstanding																											1,505

	For the Three Months Ended March 31, 2017
	Operating Income			Benefit plan non- service expense / (income)			Interest and other expense, net		Earnings before income taxes			Income taxes ⁽¹⁾			Effective tax rate			Equity Method Investment Net Losses / (Earnings)			Non-controlling interest		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP)	$	825		$	(15	)	$	119	$	721		$	154			21.4	%	$	(90	)	$	3	$	654		$	0.42
Simplify to Grow Program		211			—			—		211			48						—			—		163			0.10
Mark-to-market (gains)/losses from derivatives		51			—			—		51			3						—			—		48			0.03
Acquisition integration costs		1			—			—		1			—						—			—		1			—
Divestiture-related costs		19			—			—		19			3						—			—		16			0.01
Net earnings from divestitures		(27	)		—			—		(27	)		(7	)					2			—		(22	)		(0.01	)
Impacts from resolution of tax matters		(46	)		—			12		(58	)		—						—			—		(58	)		(0.04	)
Equity method investee acquisition-related and other adjustments		—			—			—		—			3						(27	)		—		24			0.02
Rounding		(1	)		—			—		(1	)		—						—			—		(1	)		—

Adjusted (Non-GAAP)	$	1,033		$	(15	)	$	131	$	917		$	204			22.2	%	$	(115	)	$	3	$	825		$	0.53
Net earnings from MEA cheese business divestiture		(11	)		—			—		(11	)		—						—			—		(11	)		—

Revised Adjusted (Non-GAAP)	$	1,022		$	(15	)	$	131	$	906		$	204			22.5	%	$	(115	)	$	3	$	814		$	0.53

Diluted Average Shares Outstanding																											1,550

⁽¹⁾	Taxes were computed for each of the items excluded from the company’s GAAP results based on the facts and tax assumptions associated with each item.

Schedule 3.7

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Net Earnings and Tax Rate

(in millions of U.S. dollars and shares, except per share data)

(Unaudited)


	For the Twelve Months Ended December 31, 2017
	Operating Income			Benefit plan non- service expense / (income)			Interest and other expense, net			Earnings before income taxes			Income taxes ⁽¹⁾			Effective tax rate			Gain on Equity Method Investment Transactions			Equity Method Investment Net Losses / (Earnings)			Non-controlling interest		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP)	$	3,462		$	(44	)	$	382		$	3,124		$	666			21.3	%	$	(40	)	$	(344	)	$	14	$	2,828		$	1.85
Simplify to Grow Program		777			(15	)		—			792			190						—			—			—		602			0.39
Intangible asset impairment charges		109			—			—			109			30						—			—			—		79			0.05
Mark-to-market (gains)/losses from derivatives		96			—			—			96			6						—			—			—		90			0.06
Malware incident incremental expenses		84			—			—			84			27						—			—			—		57			0.04
Acquisition integration costs		3			—			—			3			—						—			—			—		3			—
Divestiture-related costs		31			—			(3	)		34			(8	)					—			—			—		42			0.02
Net earnings from divestitures		(61	)		—			—			(61	)		(15	)					—			6			—		(52	)		(0.03	)
(Gain)/loss on divestitures		(186	)		—			—			(186	)		(7	)					—			—			—		(179	)		(0.11	)
Impacts from resolution of tax matters		(209	)		—			72			(281	)		(75	)					—			—			—		(206	)		(0.13	)
CEO transition remuneration		14			—			—			14			5						—			—			—		9			0.01
Loss on debt extinguishment and related expenses		—			—			(11	)		11			4						—			—			—		7			—
U.S. tax reform discrete net tax (benefit)/expense		—			—			—			—			44						—			—			—		(44	)		(0.03	)
Gain on equity method investment transactions		—			—			—			—			(15	)					40			—			—		(25	)		(0.02	)
Equity method investee acquisition-related and other adjustments		—			—			—			—			10						—			(69	)		—		59			0.04
Rounding		(1	)		—			—			(1	)		—						—			—			—		(1	)		—

Adjusted (Non-GAAP)	$	4,119		$	(59	)	$	440		$	3,738		$	862			23.1	%	$	—		$	(407	)	$	14	$	3,269		$	2.14
Net earnings from MEA cheese business divestiture		(31	)		—			—			(31	)		(1	)					—			—			—		(30	)		(0.02	)

Revised Adjusted (Non-GAAP)	$	4,088		$	(59	)	$	440		$	3,707		$	861			23.2	%	$	—		$	(407	)	$	14	$	3,239		$	2.12

Currency																												(15	)		(0.01	)

Revised Adjusted @ Constant FX (Non-GAAP)																											$	3,224		$	2.11

Diluted Average Shares Outstanding																															1,531

	For the Twelve Months Ended December 31, 2016
	Operating Income			Benefit plan non- service expense / (income)			Interest and other expense, net			Earnings before income taxes			Income taxes ⁽¹⁾			Effective tax rate			Gain on Equity Method Investment Transactions			Equity Method Investment Net Losses / (Earnings)			Non-controlling interest		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP)	$	2,554		$	(15	)	$	1,115		$	1,454		$	114			7.8	%	$	(43	)	$	(262	)	$	10	$	1,635		$	1.04
Simplify to Grow Program		1,072			(14	)		—			1,086			288						—			—			—		798			0.51
Intangible asset impairment charges		137			—			—			137			37						—			—			—		100			0.06
Mark-to-market (gains)/losses from derivatives		94			—			—			94			11						—			—			—		83			0.05
Acquisition integration costs		7			—			—			7			—						—			—			—		7			0.01
Acquisition-related costs		1			—			—			1			—						—			—			—		1			—
Divestiture-related costs		86			—			—			86			15						—			—			—		71			0.05
Net earnings from divestitures		(153	)		—			—			(153	)		(40	)					—			12			—		(125	)		(0.08	)
(Gain)/loss on divestitures		(9	)		—			—			(9	)		—						—			—			—		(9	)		—
(Income)/costs associated with the JDE coffee business transactions		(2	)		—			—			(2	)		(3	)					—			—			—		1			—
(Gain)/loss on sale of intangible assets		(15	)		—			—			(15	)		(3	)					—			—			—		(12	)		(0.01	)
(Gain)/loss related to interest rate swaps		—			—			(97	)		97			36						—			—			—		61			0.04
Loss on debt extinguishment and related expenses		—			—			(427	)		427			163						—			—			—		264			0.17
Gain on equity method investment transactions		—			—			—			—			(2	)					43			—			—		(41	)		(0.03	)
Equity method investee acquisition-related and other adjustments		—			—			—			—			3						—			(60	)		—		57			0.03
Rounding		1			—			—			1			1						—			—			—		—			—

Adjusted (Non-GAAP)	$	3,773		$	(29	)	$	591		$	3,211		$	620			19.3	%	$	—		$	(310	)	$	10	$	2,891		$	1.84
Net earnings from MEA cheese business divestiture		(40	)		—			—			(40	)		—						—			—			—		(40	)		(0.03	)

Revised Adjusted (Non-GAAP)	$	3,733		$	(29	)	$	591		$	3,171		$	620			19.6	%	$	—		$	(310	)	$	10	$	2,851		$	1.81

Diluted Average Shares Outstanding																															1,573

⁽¹⁾	Taxes were computed for each of the items excluded from the company’s GAAP results based on the facts and tax assumptions associated with each item.

Schedule 4.1

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Diluted EPS

(Unaudited)


	For the Three Months Ended March 31,
	2019			2018			$ Change			% Change
Diluted EPS attributable to Mondelēz International (GAAP)	$	0.63		$	0.70		$	(0.07	)		(10.0	)%
Simplify to Grow Program		0.03			0.06			(0.03	)
Mark-to-market (gains)/losses from derivatives		(0.01	)		(0.12	)		0.11
(Gain)/loss related to interest rate swaps		—			(0.01	)		0.01
U.S. tax reform discrete net tax (benefit)/expense		—			0.06			(0.06	)
Gain on equity method investment transaction		(0.01	)		—			(0.01	)
Equity method investee acquisition-related and other adjustments		0.01			(0.06	)		0.07

Adjusted EPS (Non-GAAP)	$	0.65		$	0.63		$	0.02			3.2	%
Net earnings from MEA cheese business divestiture		—			(0.01	)		0.01

Revised Adjusted EPS (Non-GAAP)	$	0.65		$	0.62		$	0.03			4.8	%
Impact of unfavorable currency		0.06			—			0.06

Revised Adjusted EPS @ Constant FX (Non-GAAP)	$	0.71		$	0.62		$	0.09			14.5	%

Schedule 4.2

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Diluted EPS

(Unaudited)


	For the Twelve Months Ended December 31,
	2018			2017			$ Change			% Change
Diluted EPS attributable to Mondelēz International (GAAP)	$	2.28		$	1.85		$	0.43			23.2	%
Simplify to Grow Program		0.32			0.39			(0.07	)
Intangible asset impairment charges		0.03			0.05			(0.02	)
Mark-to-market (gains)/losses from derivatives		(0.09	)		0.06			(0.15	)
Malware incident incremental expenses		—			0.04			(0.04	)
Acquisition-related costs		0.01			—			0.01
Divestiture-related costs		—			0.02			(0.02	)
Net earnings from divestitures		—			(0.03	)		0.03
(Gain)/loss on divestitures		—			(0.11	)		0.11
Remeasurement of net monetary position		0.01			—			0.01
Impact of pension participation changes		0.22			—			0.22
Impacts from resolution of tax matters		(0.01	)		(0.13	)		0.12
CEO transition remuneration		0.01			0.01			—
(Gain)/loss related to interest rate swaps		(0.01	)		—			(0.01	)
Loss on debt extinguishment and related expenses		0.07			—			0.07
U.S. tax reform discrete net tax (benefit)/expense		0.01			(0.03	)		0.04
Gain on equity method investment transactions		(0.39	)		(0.02	)		(0.37	)
Equity method investee acquisition-related and other adjustments		(0.03	)		0.04			(0.07	)

Adjusted EPS (Non-GAAP)	$	2.43		$	2.14		$	0.29			13.6	%
Net earnings from MEA cheese business divestiture		(0.01	)		(0.02	)		0.01

Revised Adjusted EPS (Non-GAAP)	$	2.42		$	2.12		$	0.30			14.2	%
Impact of unfavorable currency		0.03			—			0.03

Revised Adjusted EPS @ Constant FX (Non-GAAP)	$	2.45		$	2.12		$	0.33			15.6	%

Schedule 4.3

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Diluted EPS

(Unaudited)


	For the Three Months Ended December 31,
	2018			2017			$ Change			% Change
Diluted EPS attributable to Mondelēz International (GAAP)	$	0.56		$	0.46		$	0.10			21.7	%
Simplify to Grow Program		0.10			0.11			(0.01	)
Mark-to-market (gains)/losses from derivatives		0.01			0.01			—
Malware incident incremental expenses		—			0.01			(0.01	)
Impact of pension participation changes		0.01			—			0.01
Impacts from resolution of tax matters		(0.01	)		—			(0.01	)
CEO transition remuneration		—			0.01			(0.01	)
U.S. tax reform discrete net tax (benefit)/expense		(0.05	)		(0.03	)		(0.02	)
Gain on equity method investment transactions		(0.01	)		(0.02	)		0.01
Equity method investee acquisition-related and other adjustments		0.02			0.01			0.01

Adjusted EPS (Non-GAAP)	$	0.63		$	0.56		$	0.07			12.5	%
Net earnings from MEA cheese business divestiture		—			—			—

Revised Adjusted EPS (Non-GAAP)	$	0.63		$	0.56		$	0.07			12.5	%
Impact of unfavorable currency		0.04			—			0.04

Revised Adjusted EPS @ Constant FX (Non-GAAP)	$	0.67		$	0.56		$	0.11			19.6	%

Schedule 4.4

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Diluted EPS

(Unaudited)


	For the Three Months Ended September 30,
	2018			2017			$ Change			% Change
Diluted EPS attributable to Mondelēz International (GAAP)	$	0.81		$	0.64		$	0.17			26.6	%
Simplify to Grow Program		0.07			0.08			(0.01	)
Intangible asset impairment charges		0.03			0.04			(0.01	)
Mark-to-market (gains)/losses from derivatives		0.07			(0.02	)		0.09
Malware incident incremental expenses		—			0.02			(0.02	)
Divestiture-related costs		—			0.01			(0.01	)
(Gain)/loss on divestitures		—			(0.12	)		0.12
Remeasurement of net monetary position		0.01			—			0.01
Impacts from resolution of tax matters		—			(0.09	)		0.09
U.S. tax reform discrete net tax (benefit)/expense		0.01			—			0.01
Gain on equity method investment transactions		(0.39	)		—			(0.39	)
Equity method investee acquisition-related and other adjustments		0.01			—			0.01

Adjusted EPS (Non-GAAP)	$	0.62		$	0.56		$	0.06			10.7	%
Net earnings from MEA cheese business divestiture		—			—			—

Revised Adjusted EPS (Non-GAAP)	$	0.62		$	0.56		$	0.06			10.7	%
Impact of unfavorable currency		0.04			—			0.04

Revised Adjusted EPS @ Constant FX (Non-GAAP)	$	0.66		$	0.56		$	0.10			17.9	%

Schedule 4.5

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Diluted EPS

(Unaudited)


	For the Three Months Ended June 30,
	2018			2017			$ Change			% Change
Diluted EPS attributable to Mondelēz International (GAAP)	$	0.21		$	0.32		$	(0.11	)		(34.4	)%
Simplify to Grow Program		0.09			0.10			(0.01	)
Intangible asset impairment charges		—			0.02			(0.02	)
Mark-to-market (gains)/losses from derivatives		(0.05	)		0.03			(0.08	)
Acquisition-related costs		0.01			—			0.01
Net earnings from divestitures		—			(0.01	)		0.01
Impact of pension participation changes		0.20			—			0.20
CEO transition remuneration		0.01			—			0.01
Loss on debt extinguishment and related expenses		0.07			0.01			0.06
Equity method investee acquisition-related and other adjustments		0.01			0.01			—

Adjusted EPS (Non-GAAP)	$	0.55		$	0.48		$	0.07			14.6	%
Net earnings from MEA cheese business divestiture		—			—			—

Revised Adjusted EPS (Non-GAAP)	$	0.55		$	0.48		$	0.07			14.6	%
Impact of favorable currency		(0.01	)		—			(0.01	)

Revised Adjusted EPS @ Constant FX (Non-GAAP)	$	0.54		$	0.48		$	0.06			12.5	%

Schedule 4.6

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Diluted EPS

(Unaudited)


	For the Three Months Ended March 31,
	2018			2017			$ Change			% Change
Diluted EPS attributable to Mondelēz International (GAAP)	$	0.70		$	0.42		$	0.28			66.7	%
Simplify to Grow Program		0.06			0.10			(0.04	)
Mark-to-market (gains)/losses from derivatives		(0.12	)		0.03			(0.15	)
Divestiture-related costs		—			0.01			(0.01	)
Net earnings from divestitures		—			(0.01	)		0.01
Impacts from resolution of tax matters		—			(0.04	)		0.04
(Gain)/loss related to interest rate swaps		(0.01	)		—			(0.01	)
U.S. tax reform discrete net tax (benefit)/expense		0.06			—			0.06
Equity method investee acquisition-related and other adjustments		(0.06	)		0.02			(0.08	)

Adjusted EPS (Non-GAAP)	$	0.63		$	0.53		$	0.10			18.9	%
Net earnings from MEA cheese business divestiture		(0.01	)		—			(0.01	)

Revised Adjusted EPS (Non-GAAP)	$	0.62		$	0.53		$	0.09			17.0	%
Impact of favorable currency		(0.05	)		—			(0.05	)

Revised Adjusted EPS @ Constant FX (Non-GAAP)	$	0.57		$	0.53		$	0.04			7.5	%

Schedule 4.7

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Diluted EPS

(Unaudited)


	For the Twelve Months Ended December 31,
	2017			2016			$ Change			% Change
Diluted EPS attributable to Mondelēz International (GAAP)	$	1.85		$	1.04		$	0.81			77.9	%
Simplify to Grow Program		0.39			0.51			(0.12	)
Intangible asset impairment charges		0.05			0.06			(0.01	)
Mark-to-market (gains)/losses from derivatives		0.06			0.05			0.01
Malware incident incremental expenses		0.04			—			0.04
Acquisition integration costs		—			0.01			(0.01	)
Acquisition-related costs		—			—			—
Divestiture-related costs		0.02			0.05			(0.03	)
Net earnings from divestitures		(0.03	)		(0.08	)		0.05
(Gain)/loss on divestitures		(0.11	)		—			(0.11	)
(Income)/costs associated with the JDE coffee business transactions		—			—			—
(Gain)/loss on sale of intangible assets		—			(0.01	)		0.01
Impact of pension participation changes		—			—			—
Impacts from resolution of tax matters		(0.13	)		—			(0.13	)
CEO transition remuneration		0.01			—			0.01
(Gain)/loss related to interest rate swaps		—			0.04			(0.04	)
Loss on debt extinguishment and related expenses		—			0.17			(0.17	)
U.S. tax reform discrete net tax (benefit)/expense		(0.03	)		—			(0.03	)
Gain on equity method investment transactions		(0.02	)		(0.03	)		0.01
Equity method investee acquisition-related and other adjustments		0.04			0.03			0.01

Adjusted EPS (Non-GAAP)	$	2.14		$	1.84		$	0.30			16.3	%
Net earnings from MEA cheese business divestiture		(0.02	)		(0.03	)		0.01

Revised Adjusted EPS (Non-GAAP)	$	2.12		$	1.81		$	0.31			17.1	%
Impact of favorable currency		(0.01	)		—			(0.01	)

Revised Adjusted EPS @ Constant FX (Non-GAAP)	$	2.11		$	1.81		$	0.30			16.6	%

Schedule 5.1

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Segment Data

(in millions of U.S. dollars)

(Unaudited)


	For the Three Months Ended March 31, 2019
	Latin America			AMEA			Europe			North America			Unrealized G/(L) on Hedging Activities			General Corporate Expenses			Amortization of Intangibles			Mondelēz International
Net Revenue
Reported (GAAP)	$	800		$	1,541		$	2,551		$	1,646		$	—		$	—		$	—		$	6,538
Divestitures		—			—			—			—			—			—			—			—

Adjusted (Non-GAAP)	$	800		$	1,541		$	2,551		$	1,646		$	—		$	—		$	—		$	6,538
MEA cheese business divestiture		—			(33	)		—			—			—			—			—			(33	)

Revised Adjusted (Non-GAAP)	$	800		$	1,508		$	2,551		$	1,646		$	—		$	—		$	—		$	6,505


Operating Income
Reported (GAAP)	$	98		$	256		$	500		$	319		$	16		$	(109	)	$	(44	)	$	1,036
Simplify to Grow Program		15			13			11			10			—			21			—			70
Mark-to-market (gains)/losses from derivatives		—			—			—			—			(16	)		—			—			(16	)
Divestiture-related costs		—			(1	)		—			—			—			—			—			(1	)
Remeasurement of net monetary position		2			—			—			—			—			—			—			2
CEO transition remuneration		—			—			—			—			—			3			—			3

Adjusted (Non-GAAP)	$	115		$	268		$	511		$	329		$	—		$	(85)		$	(44	)	$	1,094
Operating income from MEA cheese business divestiture		—			(4	)		—			—			—			—			—			(4	)

Revised Adjusted (Non-GAAP)	$	115		$	264		$	511		$	329		$	—		$	(85)		$	(44	)	$	1,090
Currency		18			21			50			1			—			(1	)		(2	)		87

Revised Adjusted @ Constant FX (Non-GAAP)	$	133		$	285		$	561		$	330		$	—		$	(86	)	$	(46	)	$	1,177

% Change - Reported (GAAP)		(22.2	)%		12.3	%		0.6	%		16.0	%		n/m			(70.3	)%		0.0	%		(15.4	)%
% Change - Adjusted (Non-GAAP)		(30.3	)%		8.5	%		(1.7	)%		8.2	%		n/m			(44.1	)%		0.0	%		(3.4	)%
% Change - Revised Adjusted (Non-GAAP)		(30.3	)%		9.5	%		(1.7	)%		8.2	%		n/m			(44.1	)%		0.0	%		(3.3	)%
% Change - Revised Adjusted @ Constant FX (Non-GAAP)		(19.4	)%		18.3	%		7.9	%		8.6	%		n/m			(45.8	)%		(4.5	)%		4.4	%

Operating Income Margin
Reported %		12.3	%		16.6	%		19.6	%		19.4	%											15.8	%
Reported pp change		(1.8	)pp		1.8 pp			1.2 pp			2.5 pp												(2.3	)pp
Adjusted %		14.4	%		17.4	%		20.0	%		20.0	%											16.7	%
Adjusted pp change		(4.1	)pp		1.4 pp			0.8 pp			1.3 pp												— pp
Revised Adjusted %		14.4	%		17.5	%		20.0	%		20.0	%											16.8	%
Revised Adjusted pp change		(4.1	)pp		1.6 pp			0.8 pp			1.3 pp												0.1 pp

	For the Three Months Ended March 31, 2018
	Latin America			AMEA			Europe			North America			Unrealized G/(L) on Hedging Activities			General Corporate Expenses			Amortization of Intangibles			Mondelēz International
Net Revenue
Reported (GAAP)	$	891		$	1,542		$	2,706		$	1,626		$	—		$	—		$	—		$	6,765
Divestitures		—			—			—			—			—			—			—			—

Adjusted (Non-GAAP)	$	891		$	1,542		$	2,706		$	1,626		$	—		$	—		$	—		$	6,765
MEA cheese business divestiture		—			(31	)		—			—			—			—			—			(31	)

Revised Adjusted (Non-GAAP)	$	891		$	1,511		$	2,706		$	1,626		$	—		$	—		$	—		$	6,734


Operating Income
Reported (GAAP)	$	126		$	228		$	497		$	275		$	206		$	(64	)	$	(44	)	$	1,224
Simplify to Grow Program		39			18			23			29			—			5			—			114
Mark-to-market (gains)/losses from derivatives		—			—			—			—			(206	)		—			—			(206	)
Acquisition integration costs		—			1			—			—			—			—			—			1
Divestiture-related costs		—			—			—			—			—			(3	)		—			(3	)
CEO transition remuneration		—			—			—			—			—			4			—			4
Rounding		—			—			—			—			—			(1	)		—			(1	)

Adjusted (Non-GAAP)	$	165		$	247		$	520		$	304		$	—		$	(59	)	$	(44	)	$	1,133
Operating income from MEA cheese business divestiture		—			(6	)		—			—			—			—			—			(6	)

Revised Adjusted (Non-GAAP)	$	165		$	241		$	520		$	304		$	—		$	(59	)	$	(44	)	$	1,127


Operating Income Margin
Reported %		14.1	%		14.8	%		18.4	%		16.9	%											18.1	%
Adjusted %		18.5	%		16.0	%		19.2	%		18.7	%											16.7	%
Revised Adjusted %		18.5	%		15.9	%		19.2	%		18.7	%											16.7	%

Schedule 5.2

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Segment Data

(in millions of U.S. dollars)

(Unaudited)


	For the Twelve Months Ended December 31, 2018
	Latin America			AMEA			Europe			North America			Unrealized G/(L) on Hedging Activities			General Corporate Expenses			Amortization of Intangibles			Other Items			Mondelēz International
Net Revenue
Reported (GAAP)	$	3,202		$	5,729		$	10,122		$	6,885		$	—		$	—		$	—		$	—		$	25,938
Divestitures		—			—			—			—			—			—			—			—			—

Adjusted (Non-GAAP)	$	3,202		$	5,729		$	10,122		$	6,885		$	—		$	—		$	—		$	—		$	25,938
MEA cheese business divestiture		—			(126	)		—			—			—			—			—			—			(126	)

Revised Adjusted (Non-GAAP)	$	3,202		$	5,603		$	10,122		$	6,885		$	—		$	—		$	—		$	—		$	25,812


Operating Income
Reported (GAAP)	$	410		$	702		$	1,734		$	849		$	141		$	(335	)	$	(176	)	$	(13	)	$	3,312
Simplify to Grow Program		130			108			205			111			—			72			—			—			626
Intangible asset impairment charges		—			9			45			14			—			—			—			—			68
Mark-to-market (gains)/losses from derivatives		—			—			—			—			(141	)		—			—			—			(141	)
Acquisition integration costs		—			4			—			—			—			(1	)		—			—			3
Acquisition-related costs		—			—			—			—			—			—			—			13			13
Divestiture-related costs		—			2			—			—			—			(3	)		—			—			(1	)
Remeasurement of net monetary position		11			—			—			—			—			—			—			—			11
Impact of pension participation changes		—			—			—			423			—			—			—			—			423
Impacts from resolution of tax matters		(26	)		—			—			—			—			11			—			—			(15	)
CEO transition remuneration		—			—			—			—			—			22			—			—			22

Adjusted (Non-GAAP)	$	525		$	825		$	1,984		$	1,397		$	—		$	(234)		$	(176	)	$	—		$	4,321
Operating income from MEA cheese business divestiture		—			(19	)		—			—			—			—			—			—			(19	)

Revised Adjusted (Non-GAAP)	$	525		$	806		$	1,984		$	1,397		$	—		$	(234)		$	(176	)	$	—		$	4,302
Currency		82			14			(42	)		2			—			(2	)		1			—			55

Revised Adjusted @ Constant FX (Non-GAAP)	$	607		$	820		$	1,942		$	1,399		$	—		$	(236)		$	(175	)	$	—		$	4,357

% Change - Reported (GAAP)		(27.3	)%		36.6	%		7.7	%		(25.8	)%		n/m			(18.8	)%		1.1	%		n/m			(4.3	)%
% Change - Adjusted (Non-GAAP)		(5.1	)%		13.0	%		8.0	%		1.2	%		n/m			(14.7	)%		1.1	%		n/m			4.9	%
% Change - Revised Adjusted (Non-GAAP)		(5.1	)%		15.3	%		8.0	%		1.2	%		n/m			(14.7	)%		1.1	%		n/m			5.2	%
% Change - Revised Adjusted @ Constant FX (Non-GAAP)		9.8	%		17.3	%		5.7	%		1.3	%		n/m			(15.7	)%		1.7	%		n/m			6.6	%

Operating Income Margin
Reported %		12.8	%		12.3	%		17.1	%		12.3	%														12.8	%
Reported pp change		(3.0	)pp		3.3 pp			0.7 pp			(4.5	)pp														(0.6	)pp
Adjusted %		16.4	%		14.4	%		19.6	%		20.3	%														16.7	%
Adjusted pp change		0.9 pp			1.4 pp			0.6 pp			— pp															0.6 pp
Revised Adjusted %		16.4	%		14.4	%		19.6	%		20.3	%														16.7	%
Revised Adjusted pp change		0.9 pp			1.6 pp			0.6 pp			— pp															0.7 pp

	For the Twelve Months Ended December 31, 2017
	Latin America			AMEA			Europe			North America			Unrealized G/(L) on Hedging Activities			General Corporate Expenses			Amortization of Intangibles			Other Items			Mondelēz International
Net Revenue
Reported (GAAP)	$	3,566		$	5,739		$	9,794		$	6,797		$	—		$	—		$	—		$	—		$	25,896
Divestitures		—			(133	)		(137	)		—			—			—			—			—			(270	)

Adjusted (Non-GAAP)	$	3,566		$	5,606		$	9,657		$	6,797		$	—		$	—		$	—		$	—		$	25,626
MEA cheese business divestiture		—			(132	)		—			—			—			—			—			—			(132	)

Revised Adjusted (Non-GAAP)	$	3,566		$	5,474		$	9,657		$	6,797		$	—		$	—		$	—		$	—		$	25,494


Operating Income
Reported (GAAP)	$	564		$	514		$	1,610		$	1,144		$	(96	)	$	(282	)	$	(178	)	$	186		$	3,462
Simplify to Grow Program		136			183			263			142			—			53			—			—			777
Intangible asset impairment charges		5			52			11			41			—			—			—			—			109
Mark-to-market (gains)/losses from derivatives		—			—			—			—			96			—			—			—			96
Malware incident incremental expenses		1			2			15			61			—			5			—			—			84
Acquisition integration costs		—			3			—			—			—			—			—			—			3
Divestiture-related costs		—			3			21			—			—			7			—			—			31
Operating income from divestitures		—			(27	)		(34	)		—			—			—			—			—			(61	)
(Gain)/loss on divestitures		—			—			—			—			—			—			—			(186	)		(186	)
Impacts from resolution of tax matters		(153	)		—			(49	)		(7	)		—			—			—			—			(209	)
CEO transition remuneration		—			—			—			—			—			14			—			—			14
Rounding		—			—			—			—			—			(1	)		—			—			(1	)

Adjusted (Non-GAAP)	$	553		$	730		$	1,837		$	1,381		$	—		$	(204	)	$	(178	)	$	—		$	4,119
Operating income from MEA cheese business divestiture		—			(31	)		—			—			—			—			—			—			(31	)

Revised Adjusted (Non-GAAP)	$	553		$	699		$	1,837		$	1,381		$	—		$	(204	)	$	(178	)	$	—		$	4,088


Operating Income Margin
Reported %		15.8	%		9.0	%		16.4	%		16.8	%														13.4	%
Adjusted %		15.5	%		13.0	%		19.0	%		20.3	%														16.1	%
Revised Adjusted %		15.5	%		12.8	%		19.0	%		20.3	%														16.0	%

Schedule 5.3

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Segment Data

(in millions of U.S. dollars)

(Unaudited)


	For the Three Months Ended December 31, 2018
	Latin America			AMEA			Europe			North America			Unrealized G/(L) on Hedging Activities			General Corporate Expenses			Amortization of Intangibles			Other Items			Mondelēz International
Net Revenue
Reported (GAAP)	$	763		$	1,429		$	2,752		$	1,829		$	—		$	—		$	—		$	—		$	6,773
Divestitures		—			—			—			—			—			—			—			—			—

Adjusted (Non-GAAP)	$	763		$	1,429		$	2,752		$	1,829		$	—		$	—		$	—		$	—		$	6,773
MEA cheese business divestiture		—			(34	)		—			—			—			—			—			—			(34	)

Revised Adjusted (Non-GAAP)	$	763		$	1,395		$	2,752		$	1,829		$	—		$	—		$	—		$	—		$	6,739


Operating Income
Reported (GAAP)	$	92		$	144		$	489		$	335		$	(40	)	$	(107	)	$	(44	)	$	1		$	870
Simplify to Grow Program		37			30			64			33			—			30			—			—			194
Mark-to-market (gains)/losses from derivatives		—			—			—			—			40			—			—			—			40
Acquisition integration costs		—			—			—			—			—			1			—			—			1
Acquisition-related costs		—			—			—			—			—			—			—			(1	)		(1	)
Divestiture-related costs		—			2			—			—			—			—			—			—			2
Remeasurement of net monetary position		(2	)		—			—			—			—			—			—			—			(2	)
Impact of pension participation changes		—			—			—			15			—			—			—			—			15
Impacts from resolution of tax matters		(26	)		—			—			—			—			—			—			—			(26	)
CEO transition remuneration		—			—			—			—			—			4			—			—			4
Rounding		—			—			—			—			—			(1	)		—			—			(1	)

Adjusted (Non-GAAP)	$	101		$	176		$	553		$	383		$	—		$	(73)		$	(44	)	$	—		$	1,096
Operating income from MEA cheese business divestiture		—			(5	)		—			—			—			—			—			—			(5	)

Revised Adjusted (Non-GAAP)	$	101		$	171		$	553		$	383		$	—		$	(73)		$	(44	)	$	—		$	1,091
Currency		37			13			27			2			—			(4	)		(1	)		—			74

Revised Adjusted @ Constant FX (Non-GAAP)	$	138		$	184		$	580		$	385		$	—		$	(77)		$	(45	)	$	—		$	1,165

% Change - Reported (GAAP)		(3.2	)%		60.0	%		(2.8	)%		10.9	%		n/m			(18.9	)%		2.2	%		n/m			4.8	%
% Change - Adjusted (Non-GAAP)		(20.5	)%		29.4	%		(3.3	)%		9.1	%		n/m			(46.0	)%		2.2	%		n/m			0.5	%
% Change - Revised Adjusted (Non-GAAP)		(20.5	)%		31.5	%		(3.3	)%		9.1	%		n/m			(46.0	)%		2.2	%		n/m			0.6	%
% Change - Revised Adjusted @ Constant FX (Non-GAAP)		8.7	%		41.5	%		1.4	%		9.7	%		n/m			(54.0	)%		0.0	%		n/m			7.4	%

Operating Income Margin
Reported %		12.1	%		10.1	%		17.8	%		18.3	%														12.8	%
Reported pp change		1.5 pp			3.9 pp			(0.1	)pp		1.5 pp															0.9 pp
Adjusted %		13.2	%		12.3	%		20.1	%		20.9	%														16.2	%
Adjusted pp change		(0.9	)pp		2.9 pp			(0.2	)pp		1.4 pp															0.5 pp
Revised Adjusted %		13.2	%		12.3	%		20.1	%		20.9	%														16.2	%
Revised Adjusted pp change		(0.9	)pp		3.1 pp			(0.2	)pp		1.4 pp															0.5 pp

	For the Three Months Ended December 31, 2017
	Latin America			AMEA			Europe			North America			Unrealized G/(L) on Hedging Activities			General Corporate Expenses			Amortization of Intangibles			Other Items			Mondelēz International
Net Revenue
Reported (GAAP)	$	900		$	1,449		$	2,816		$	1,801		$	—		$	—		$	—		$	—		$	6,966
Divestitures		—			(4	)		(2	)		—			—			—			—			—			(6	)

Adjusted (Non-GAAP)	$	900		$	1,445		$	2,814		$	1,801		$	—		$	—		$	—		$	—		$	6,960
MEA cheese business divestiture		—			(33	)		—			—			—			—			—			—			(33	)

Revised Adjusted (Non-GAAP)	$	900		$	1,412		$	2,814		$	1,801		$	—		$	—		$	—		$	—		$	6,927


Operating Income
Reported (GAAP)	$	95		$	90		$	503		$	302		$	(27	)	$	(90	)	$	(45	)	$	2		$	830
Simplify to Grow Program		32			47			65			33			—			15			—			—			192
Mark-to-market (gains)/losses from derivatives		—			—			—			—			27			—			—			—			27
Malware incident incremental expenses		—			—			4			23			—			3			—			—			30
Acquisition integration costs		—			1			—			—			—			—			—			—			1
Divestiture-related costs		—			(2	)		2			—			—			9			—			—			9
Operating income from divestitures		—			—			(1	)		—			—			—			—			—			(1	)
(Gain)/loss on divestitures		—			—			—			—			—			—			—			(2	)		(2	)
Impacts from resolution of tax matters		—			—			(1	)		(7	)		—			—			—			—			(8	)
CEO transition remuneration		—			—			—			—			—			14			—			—			14
Rounding		—			—			—			—			—			(1	)		—			—			(1	)

Adjusted (Non-GAAP)	$	127		$	136		$	572		$	351		$	—		$	(50	)	$	(45	)	$	—		$	1,091
Operating income from MEA cheese business divestiture		—			(6	)		—			—			—			—			—			—			(6	)

Revised Adjusted (Non-GAAP)	$	127		$	130		$	572		$	351		$	—		$	(50	)	$	(45	)	$	—		$	1,085


Operating Income Margin
Reported %		10.6	%		6.2	%		17.9	%		16.8	%														11.9	%
Adjusted %		14.1	%		9.4	%		20.3	%		19.5	%														15.7	%
Revised Adjusted %		14.1	%		9.2	%		20.3	%		19.5	%														15.7	%

Schedule 5.4

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Segment Data

(in millions of U.S. dollars)

(Unaudited)


	For the Three Months Ended September 30, 2018
	Latin America			AMEA			Europe			North America			Unrealized G/(L) on Hedging Activities			General Corporate Expenses			Amortization of Intangibles			Other Items			Mondelēz International
Net Revenue
Reported (GAAP)	$	774		$	1,398		$	2,361		$	1,755		$	—		$	—		$	—		$	—		$	6,288
Divestitures		—			—			—			—			—			—			—			—			—

Adjusted (Non-GAAP)	$	774		$	1,398		$	2,361		$	1,755		$	—		$	—		$	—		$	—		$	6,288
MEA cheese business divestiture		—			(29	)		—			—			—			—			—			—			(29	)

Revised Adjusted (Non-GAAP)	$	774		$	1,369		$	2,361		$	1,755		$	—		$	—		$	—		$	—		$	6,259


Operating Income
Reported (GAAP)	$	100		$	153		$	381		$	334		$	(112	)	$	(74	)	$	(44	)	$	(1	)	$	737
Simplify to Grow Program		27			35			42			14			—			21			—			—			139
Intangible asset impairment charges		—			9			45			14			—			—			—			—			68
Mark-to-market (gains)/losses from derivatives		—			—			—			—			112			—			—			—			112
Acquisition integration costs		—			1			—			—			—			(2	)		—			—			(1	)
Acquisition-related costs		—			—			—			—			—			—			—			1			1
Remeasurement of net monetary position		13			—			—			—			—			—			—			—			13
CEO transition remuneration		—			—			—			—			—			4			—			—			4
Rounding		—			—			—			—			—			1			—			—			1

Adjusted (Non-GAAP)	$	140		$	198		$	468		$	362		$	—		$	(50)		$	(44	)	$	—		$	1,074
Operating income from MEA cheese business divestiture		—			(6	)		—			—			—			—			—			—			(6	)

Revised Adjusted (Non-GAAP)	$	140		$	192		$	468		$	362		$	—		$	(50)		$	(44	)	$	—		$	1,068
Currency		27			16			20			—			—			(2	)		(1	)		—			60

Revised Adjusted @ Constant FX (Non-GAAP)	$	167		$	208		$	488		$	362		$	—		$	(52)		$	(45	)	$	—		$	1,128

% Change - Reported (GAAP)		(60.9	)%		86.6	%		(3.1	)%		2.8	%		n/m			(34.5	)%		2.2	%		n/m			(37.1	)%
% Change - Adjusted (Non-GAAP)		(13.6	)%		8.8	%		3.3	%		(5.0	)%		n/m			(13.6	)%		2.2	%		n/m			(1.4	)%
% Change - Revised Adjusted (Non-GAAP)		(13.6	)%		9.7	%		3.3	%		(5.0	)%		n/m			(13.6	)%		2.2	%		n/m			(1.3	)%
% Change - Revised Adjusted @ Constant FX (Non-GAAP)		3.1	%		18.9	%		7.7	%		(5.0	)%		n/m			(18.2	)%		0.0	%		n/m			4.3	%

Operating Income Margin
Reported %		12.9	%		10.9	%		16.1	%		19.0	%														11.7	%
Reported pp change		(15.3	)pp		5.1 pp			— pp			0.7 pp															(6.2	)pp
Adjusted %		18.1	%		14.2	%		19.8	%		20.6	%														17.1	%
Adjusted pp change		0.3 pp			1.2 pp			1.1 pp			(0.9	)pp														0.4 pp
Revised Adjusted %		18.1	%		14.0	%		19.8	%		20.6	%														17.1	%
Revised Adjusted pp change		0.3 pp			1.2 pp			1.1 pp			(0.9	)pp														0.4 pp

	For the Three Months Ended September 30, 2017
	Latin America			AMEA			Europe			North America			Unrealized G/(L) on Hedging Activities			General Corporate Expenses			Amortization of Intangibles			Other Items			Mondelēz International
Net Revenue
Reported (GAAP)	$	908		$	1,405		$	2,442		$	1,775		$	—		$	—		$	—		$	—		$	6,530
Divestitures		—			(4	)		(14	)		—			—			—			—			—			(18	)

Adjusted (Non-GAAP)	$	908		$	1,401		$	2,428		$	1,775		$	—		$	—		$	—		$	—		$	6,512
MEA cheese business divestiture		—			(30	)		—			—			—			—			—			—			(30	)

Revised Adjusted (Non-GAAP)	$	908		$	1,371		$	2,428		$	1,775		$	—		$	—		$	—		$	—		$	6,482


Operating Income
Reported (GAAP)	$	256		$	82		$	393		$	325		$	28		$	(55	)	$	(45	)	$	187		$	1,171
Simplify to Grow Program		53			43			48			19			—			12			—			—			175
Intangible asset impairment charges		5			53			11			3			—			(1	)		—			—			71
Mark-to-market (gains)/losses from derivatives		—			—			—			—			(28	)		—			—			—			(28	)
Malware incident incremental expenses		1			2			9			34			—			1			—			—			47
Acquisition integration costs		—			1			—			—			—			—			—			—			1
Divestiture-related costs		—			2			(2	)		—			—			—			—			—			—
Operating income from divestitures		—			(1	)		(4	)		—			—			—			—			—			(5	)
(Gain)/loss on divestitures		—			—			—			—			—			—			—			(187	)		(187	)
Impacts from resolution of tax matters		(153	)		—			(2	)		—			—			—			—			—			(155	)
Rounding		—			—			—			—			—			(1	)		—			—			(1	)

Adjusted (Non-GAAP)	$	162		$	182		$	453		$	381		$	—		$	(44	)	$	(45	)	$	—		$	1,089
Operating income from MEA cheese business divestiture		—			(7	)		—			—			—			—			—			—			(7	)

Revised Adjusted (Non-GAAP)	$	162		$	175		$	453		$	381		$	—		$	(44	)	$	(45	)	$	—		$	1,082


Operating Income Margin
Reported %		28.2	%		5.8	%		16.1	%		18.3	%														17.9	%
Adjusted %		17.8	%		13.0	%		18.7	%		21.5	%														16.7	%
Revised Adjusted %		17.8	%		12.8	%		18.7	%		21.5	%														16.7	%

Schedule 5.5

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Segment Data

(in millions of U.S. dollars)

(Unaudited)


	For the Three Months Ended June 30, 2018
	Latin America			AMEA			Europe			North America			Unrealized G/(L) on Hedging Activities			General Corporate Expenses			Amortization of Intangibles			Other Items			Mondelēz International
Net Revenue
Reported (GAAP)	$	774		$	1,360		$	2,303		$	1,675		$	—		$	—		$	—		$	—		$	6,112
Divestitures		—			—			—			—			—			—			—			—			—

Adjusted (Non-GAAP)	$	774		$	1,360		$	2,303		$	1,675		$	—		$	—		$	—		$	—		$	6,112
MEA cheese business divestiture		—			(32	)		—			—			—			—			—			—			(32	)

Revised Adjusted (Non-GAAP)	$	774		$	1,328		$	2,303		$	1,675		$	—		$	—		$	—		$	—		$	6,080


Operating Income
Reported (GAAP)	$	92		$	177		$	367		$	(95	)	$	88		$	(91	)	$	(44	)	$	(13	)	$	481
Simplify to Grow Program		27			25			76			35			—			16			—			—			179
Mark-to-market (gains)/losses from derivatives		—			—			—			—			(88	)		—			—			—			(88	)
Acquisition integration costs		—			2			—			—			—			—			—			—			2
Acquisition-related costs		—			—			—			—			—			—			—			13			13
Impact of pension participation changes		—			—			—			408			—			—			—			—			408
Impacts from resolution of tax matters		—			—			—			—			—			11			—			—			11
CEO transition remuneration		—			—			—			—			—			10			—			—			10
Rounding		—			—			—			—			—			2			—			—			2

Adjusted (Non-GAAP)	$	119		$	204		$	443		$	348		$	—		$	(52)		$	(44	)	$	—		$	1,018
Operating income from MEA cheese business divestiture		—			(2	)		—			—			—			—			—			—			(2	)

Revised Adjusted (Non-GAAP)	$	119		$	202		$	443		$	348		$	—		$	(52)		$	(44	)	$	—		$	1,016
Currency		12			(5	)		(22	)		—			—			4			1			—			(10	)

Revised Adjusted @ Constant FX (Non-GAAP)	$	131		$	197		$	421		$	348		$	—		$	(48)		$	(43	)	$	—		$	1,006

% Change - Reported (GAAP)		(9.8	)%		9.9	%		14.3	%		(142.2	)%		n/m			(13.8	)%		0.0	%		n/m			(24.4	)%
% Change - Adjusted (Non-GAAP)		(0.8	)%		0.0	%		15.4	%		13.7	%		n/m			18.8	%		0.0	%		n/m			12.4	%
% Change - Revised Adjusted (Non-GAAP)		(0.8	)%		2.5	%		15.4	%		13.7	%		n/m			18.8	%		0.0	%		n/m			13.0	%
% Change - Revised Adjusted @ Constant FX (Non-GAAP)		9.2	%		0.0	%		9.6	%		13.7	%		n/m			25.0	%		2.3	%		n/m			11.9	%

Operating Income Margin
Reported %		11.9	%		13.0	%		15.9	%		(5.7	)%														7.9	%
Reported pp change		(0.1	)pp		1.5 pp			1.1 pp			(20.0	)pp														(2.7	)pp
Adjusted %		15.4	%		15.0	%		19.2	%		20.8	%														16.7	%
Adjusted pp change		1.2 pp			(0.4	)pp		1.1 pp			1.3 pp															1.3 pp
Revised Adjusted %		15.4	%		15.2	%		19.2	%		20.8	%														16.7	%
Revised Adjusted pp change		1.2 pp			— pp			1.1 pp			1.3 pp															1.3 pp

	For the Three Months Ended June 30, 2017
	Latin America			AMEA			Europe			North America			Unrealized G/(L) on Hedging Activities			General Corporate Expenses			Amortization of Intangibles			Other Items			Mondelēz International
Net Revenue
Reported (GAAP)	$	848		$	1,394		$	2,171		$	1,573		$	—		$	—		$	—		$	—		$	5,986
Divestitures		—			(66	)		(44	)		—			—			—			—			—			(110	)

Adjusted (Non-GAAP)	$	848		$	1,328		$	2,127		$	1,573		$	—		$	—		$	—		$	—		$	5,876
MEA cheese business divestiture		—			(33	)		—			—			—			—			—			—			(33	)

Revised Adjusted (Non-GAAP)	$	848		$	1,295		$	2,127		$	1,573		$	—		$	—		$	—		$	—		$	5,843


Operating Income
Reported (GAAP)	$	102		$	161		$	321		$	225		$	(46	)	$	(80	)	$	(44	)	$	(3	)	$	636
Simplify to Grow Program		18			58			69			39			—			15			—			—			199
Intangible asset impairment charges		—			—			—			38			—			—			—			—			38
Mark-to-market (gains)/losses from derivatives		—			—			—			—			46			—			—			—			46
Malware incident incremental expenses		—			—			2			4			—			1			—			—			7
Divestiture-related costs		—			1			3			—			—			—			—			—			4
Operating income from divestitures		—			(16	)		(12	)		—			—			—			—			—			(28	)
(Gain)/loss on divestitures		—			—			—			—			—			—			—			3			3
(Income)/costs associated with the JDE coffee business transactions		—			—			1			—			—			(1	)		—			—			—
Rounding		—			—			—			—			—			1			—			—			1

Adjusted (Non-GAAP)	$	120		$	204		$	384		$	306		$	—		$	(64	)	$	(44	)	$	—		$	906
Operating income from MEA cheese business divestiture		—			(7	)		—			—			—			—			—			—			(7	)

Revised Adjusted (Non-GAAP)	$	120		$	197		$	384		$	306		$	—		$	(64	)	$	(44	)	$	—		$	899


Operating Income Margin
Reported %		12.0	%		11.5	%		14.8	%		14.3	%														10.6	%
Adjusted %		14.2	%		15.4	%		18.1	%		19.5	%														15.4	%
Revised Adjusted %		14.2	%		15.2	%		18.1	%		19.5	%														15.4	%

Schedule 5.6

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Segment Data

(in millions of U.S. dollars)

(Unaudited)


	For the Three Months Ended March 31, 2018
	Latin America			AMEA			Europe			North America			Unrealized G/(L) on Hedging Activities			General Corporate Expenses			Amortization of Intangibles			Mondelēz International
Net Revenue
Reported (GAAP)	$	891		$	1,542		$	2,706		$	1,626		$	—		$	—		$	—		$	6,765
Divestitures		—			—			—			—			—			—			—			—

Adjusted (Non-GAAP)	$	891		$	1,542		$	2,706		$	1,626		$	—		$	—		$	—		$	6,765
MEA cheese business divestiture		—			(31	)		—			—			—			—			—			(31	)

Revised Adjusted (Non-GAAP)	$	891		$	1,511		$	2,706		$	1,626		$	—		$	—		$	—		$	6,734


Operating Income
Reported (GAAP)	$	126		$	228		$	497		$	275		$	206		$	(64	)	$	(44	)	$	1,224
Simplify to Grow Program		39			18			23			29			—			5			—			114
Mark-to-market (gains)/losses from derivatives		—			—			—			—			(206	)		—			—			(206	)
Acquisition integration costs		—			1			—			—			—			—			—			1
Divestiture-related costs		—			—			—			—			—			(3	)		—			(3	)
CEO transition remuneration		—			—			—			—			—			4			—			4
Rounding		—			—			—			—			—			(1	)		—			(1	)

Adjusted (Non-GAAP)	$	165		$	247		$	520		$	304		$	—		$	(59)		$	(44	)	$	1,133
Operating income from MEA cheese business divestiture		—			(6	)		—			—			—			—			—			(6	)

Revised Adjusted (Non-GAAP)	$	165		$	241		$	520		$	304		$	—		$	(59)		$	(44	)	$	1,127
Currency		6			(10	)		(67	)		—			—			—			2			(69	)

Revised Adjusted @ Constant FX (Non-GAAP)	$	171		$	231		$	453		$	304		$	—		$	(59)		$	(42	)	$	1,058

% Change - Reported (GAAP)		13.5	%		26.0	%		26.5	%		(5.8	)%		n/m			(12.3	)%		0.0	%		48.4	%
% Change - Adjusted (Non-GAAP)		14.6	%		18.8	%		21.5	%		(11.4	)%		n/m			(28.3	)%		0.0	%		9.7	%
% Change - Revised Adjusted (Non-GAAP)		14.6	%		22.3	%		21.5	%		(11.4	)%		n/m			(28.3	)%		0.0	%		10.3	%
% Change - Revised Adjusted @ Constant FX (Non-GAAP)		18.8	%		17.3	%		5.8	%		(11.4	)%		n/m			(28.3	)%		4.5	%		3.5	%

Operating Income Margin
Reported %		14.1	%		14.8	%		18.4	%		16.9	%											18.1	%
Reported pp change		1.9 pp			2.7 pp			1.8 pp			(0.8	)pp											5.2 pp
Adjusted %		18.5	%		16.0	%		19.2	%		18.7	%											16.7	%
Adjusted pp change		2.7 pp			1.5 pp			0.5 pp			(2.1	)pp											0.2 pp
Revised Adjusted %		18.5	%		15.9	%		19.2	%		18.7	%											16.7	%
Revised Adjusted pp change		2.7 pp			1.8 pp			0.5 pp			(2.1	)pp											0.3 pp

	For the Three Months Ended March 31, 2017
	Latin America			AMEA			Europe			North America			Unrealized G/(L) on Hedging Activities			General Corporate Expenses			Amortization of Intangibles			Mondelēz International
Net Revenue
Reported (GAAP)	$	910		$	1,491		$	2,365		$	1,648		$	—		$	—		$	—		$	6,414
Divestitures		—			(59	)		(77	)		—			—			—			—			(136	)

Adjusted (Non-GAAP)	$	910		$	1,432		$	2,288		$	1,648		$	—		$	—		$	—		$	6,278
MEA cheese business divestiture		—			(36	)		—			—			—			—			—			(36	)

Revised Adjusted (Non-GAAP)	$	910		$	1,396		$	2,288		$	1,648		$	—		$	—		$	—		$	6,242


Operating Income
Reported (GAAP)	$	111		$	181		$	393		$	292		$	(51	)	$	(57	)	$	(44	)	$	825
Simplify to Grow Program		33			35			81			51			—			11			—			211
Mark-to-market (gains)/losses from derivatives		—			—			—			—			51			—			—			51
Acquisition integration costs		—			1			—			—			—			—			—			1
Divestiture-related costs		—			1			18			—			—			—			—			19
Operating income from divestitures		—			(10	)		(17	)		—			—			—			—			(27	)
(Income)/costs associated with the JDE coffee business transactions		—			—			(1	)		—			—			1			—			—
Impacts from resolution of tax matters		—			—			(46	)		—			—			—			—			(46	)
Rounding		—			—			—			—			—			(1	)		—			(1	)

Adjusted (Non-GAAP)	$	144		$	208		$	428		$	343		$	—		$	(46	)	$	(44	)	$	1,033
Operating income from MEA cheese business divestiture		—			(11	)		—			—			—			—			—			(11	)

Revised Adjusted (Non-GAAP)	$	144		$	197		$	428		$	343		$	—		$	(46	)	$	(44	)	$	1,022


Operating Income Margin
Reported %		12.2	%		12.1	%		16.6	%		17.7	%											12.9	%
Adjusted %		15.8	%		14.5	%		18.7	%		20.8	%											16.5	%
Revised Adjusted %		15.8	%		14.1	%		18.7	%		20.8	%											16.4	%

Schedule 5.7

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Segment Data

(in millions of U.S. dollars)

(Unaudited)


	For the Twelve Months Ended December 31, 2017
	Latin America			AMEA			Europe			North America			Unrealized G/(L) on Hedging Activities			General Corporate Expenses			Amortization of Intangibles			Other Items			Mondelēz International
Net Revenue
Reported (GAAP)	$	3,566		$	5,739		$	9,794		$	6,797		$	—		$	—		$	—		$	—		$	25,896
Divestitures		—			(133	)		(137	)		—			—			—			—			—			(270	)

Adjusted (Non-GAAP)	$	3,566		$	5,606		$	9,657		$	6,797		$	—		$	—		$	—		$	—		$	25,626
MEA cheese business divestiture		—			(132	)		—			—			—			—			—			—			(132	)

Revised Adjusted (Non-GAAP)	$	3,566		$	5,474		$	9,657		$	6,797		$	—		$	—		$	—		$	—		$	25,494


Operating Income
Reported (GAAP)	$	564		$	514		$	1,610		$	1,144		$	(96	)	$	(282	)	$	(178	)	$	186		$	3,462
Simplify to Grow Program		136			183			263			142			—			53			—			—			777
Intangible asset impairment charges		5			52			11			41			—			—			—			—			109
Mark-to-market (gains)/losses from derivatives		—			—			—			—			96			—			—			—			96
Malware incident incremental expenses		1			2			15			61			—			5			—			—			84
Acquisition integration costs		—			3			—			—			—			—			—			—			3
Divestiture-related costs		—			3			21			—			—			7			—			—			31
Operating income from divestitures		—			(27	)		(34	)		—			—			—			—			—			(61	)
(Gain)/loss on divestitures		—			—			—			—			—			—			—			(186	)		(186	)
Benefits from resolution of tax matters		(153	)		—			(49	)		(7	)		—			—			—			—			(209	)
CEO transition remuneration		—			—			—			—			—			14			—			—			14
Rounding		—			—			—			—			—			(1	)		—			—			(1	)

Adjusted (Non-GAAP)	$	553		$	730		$	1,837		$	1,381		$	—		$	(204)		$	(178	)	$	—		$	4,119
Operating income from MEA cheese business divestiture		—			(31	)		—			—			—			—			—			—			(31	)

Revised Adjusted (Non-GAAP)	$	553		$	699		$	1,837		$	1,381		$	—		$	(204)		$	(178	)	$	—		$	4,088
Currency		(20	)		44			(22	)		(4	)		—			(2	)		1			—			(3	)

Revised Adjusted @ Constant FX (Non-GAAP)	$	533		$	743		$	1,815		$	1,377		$	—		$	(206)		$	(177	)	$	—		$	4,085

% Change - Reported (GAAP)		107.4	%		1.8	%		34.4	%		1.4	%		n/m			1.7	%		(1.1	)%		n/m			35.6	%
% Change - Adjusted (Non-GAAP)		26.5	%		12.8	%		12.6	%		(4.5	)%		n/m			4.2	%		(1.1	)%		n/m			9.2	%
% Change - Revised Adjusted (Non-GAAP)		26.5	%		15.2	%		12.6	%		(4.5	)%		n/m			4.2	%		(1.1	)%		n/m			9.5	%
% Change - Revised Adjusted @ Constant FX (Non-GAAP)		22.0	%		22.4	%		11.2	%		(4.8	)%		n/m			3.3	%		(0.6	)%		n/m			9.4	%

Operating Income Margin
Reported %		15.8	%		9.0	%		16.4	%		16.8	%														13.4	%
Reported pp change		7.8 pp			0.3 pp			4.1 pp			0.6 pp															3.5 pp
Adjusted %		15.5	%		13.0	%		19.0	%		20.3	%														16.1	%
Adjusted pp change		2.6 pp			1.4 pp			1.6 pp			(0.5	)pp														1.2 pp
Revised Adjusted %		15.5	%		12.8	%		19.0	%		20.3	%														16.0	%
Revised Adjusted pp change		2.6 pp			1.5 pp			1.6 pp			(0.5	)pp														1.1 pp

	For the Twelve Months Ended December 31, 2016
	Latin America			AMEA			Europe			North America			Unrealized G/(L) on Hedging Activities			General Corporate Expenses			Amortization of Intangibles			Other Items			Mondelēz International
Net Revenue
Reported (GAAP)	$	3,392		$	5,816		$	9,755		$	6,960		$	—		$	—		$	—		$	—		$	25,923
Divestitures		(8	)		(261	)		(371	)		(13	)		—			—			—			—			(653	)

Adjusted (Non-GAAP)	$	3,384		$	5,555		$	9,384		$	6,947		$	—		$	—		$	—		$	—		$	25,270
MEA cheese business divestiture		—			(161	)		—			—			—			—			—			—			(161	)

Revised Adjusted (Non-GAAP)	$	3,384		$	5,394		$	9,384		$	6,947		$	—		$	—		$	—		$	—		$	25,109


Operating Income
Reported (GAAP)	$	272		$	505		$	1,198		$	1,128		$	(94	)	$	(287	)	$	(176	)	$	8		$	2,554
Simplify to Grow Program		165			144			398			294			—			71			—			—			1,072
Intangible asset impairment charges		2			45			50			39			—			1			—			—			137
Mark-to-market (gains)/losses from derivatives		—			—			—			—			94			—			—			—			94
Acquisition integration costs		—			7			—			—			—			—			—			—			7
Acquisition-related costs		—			—			—			—			—			—			—			1			1
Divestiture-related costs		—			—			86			—			—			—			—			—			86
Operating income from divestitures		(2	)		(54	)		(89	)		(8	)		—			—			—			—			(153	)
(Gain)/loss on divestitures		—			—			—			—			—			—			—			(9	)		(9	)
(Income)/costs associated with the JDE coffee business transactions		—			—			(3	)		—			—			1			—			—			(2	)
(Gain)/loss on sale of intangible assets		—			—			(8	)		(7	)		—			—			—			—			(15	)
Rounding		—			—			—			—			—			1			—			—			1

Adjusted (Non-GAAP)	$	437		$	647		$	1,632		$	1,446		$	—		$	(213	)	$	(176	)	$	—		$	3,773
Operating income from MEA cheese business divestiture		—			(40	)		—			—			—			—			—			—			(40	)

Revised Adjusted (Non-GAAP)	$	437		$	607		$	1,632		$	1,446		$	—		$	(213	)	$	(176	)	$	—		$	3,733


Operating Income Margin
Reported %		8.0	%		8.7	%		12.3	%		16.2	%														9.9	%
Adjusted %		12.9	%		11.6	%		17.4	%		20.8	%														14.9	%
Revised Adjusted %		12.9	%		11.3	%		17.4	%		20.8	%														14.9	%