XML 93 R44.htm IDEA: XBRL DOCUMENT
v3.19.3.a.u2

Segment Reporting (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2019
Segment Reporting [Abstract] |
Schedule of Net Revenues by Segment | Our segment net revenues and earnings, reflecting our current segment structure for all periods presented, were:
| For the Years Ended December 31,
| 2019 |  | 2018 |  | 2017
| (in millions)
Net revenues: |  |  |  |  |
Latin America | $ | 3,018 |  |  | $ | 3,202 |  |  | $ | 3,566 |
AMEA | 5,770 |  |  | 5,729 |  |  | 5,739 |
Europe | 9,972 |  |  | 10,122 |  |  | 9,794 |
North America | 7,108 |  |  | 6,885 |  |  | 6,797 |
Net revenues | $ | 25,868 |  |  | $ | 25,938 |  |  | $ | 25,896 |
Schedule of Operating Income by Segment |
Earnings before income taxes: |  |  |  |  |
Operating income: |  |  |  |  |
Latin America | $ | 341 |  |  | $ | 410 |  |  | $ | 564 |
AMEA | 691 |  |  | 702 |  |  | 514 |
Europe | 1,732 |  |  | 1,734 |  |  | 1,610 |
North America | 1,451 |  |  | 849 |  |  | 1,144 |
Unrealized gains/(losses) on hedging activities (mark-to-market impacts) | 91 |  |  | 141 |  |  | (96 | )
General corporate expenses | (330 | ) |  | (335 | ) |  | (282 | )
Amortization of intangibles | (174 | ) |  | (176 | ) |  | (178 | )
Net gains on divestitures | 44 |  |  | — |  |  | 186 |
Acquisition-related costs | (3 | ) |  | (13 | ) |  | — |
Operating income | 3,843 |  |  | 3,312 |  |  | 3,462 |
Benefit plan non-service income (1) | 60 |  |  | 50 |  |  | 44 |
Interest and other expense, net | (456 | ) |  | (520 | ) |  | (382 | )
Earnings before income taxes | $ | 3,447 |  |  | $ | 2,842 |  |  | $ | 3,124 |
(1) During the first quarter of 2018, in connection with adopting a new pension cost classification accounting standard, we reclassified certain of our benefit plan component costs other than service costs out of operating income into a new line item, benefit plan non-service income, on our consolidated statements of earnings. As such, we have recast our historical operating income and segment operating income to reflect this reclassification, which had no impact to earnings before income taxes or net earnings.
Schedule of Total Assets, Depreciation Expense and Capital Expenditure by Segment | Total assets, depreciation expense and capital expenditures by segment, reflecting our current segment structure for all periods presented, were:
| For the Years Ended December 31,
| 2019 |  | 2018 |  | 2017
| (in millions)
Total assets: |  |  |  |  |
Latin America (1) | $ | 4,716 |  |  | $ | 4,699 |  |  | $ | 4,948 |
AMEA (1) | 9,740 |  |  | 9,571 |  |  | 9,883 |
Europe (1) | 20,354 |  |  | 19,426 |  |  | 21,611 |
North America (1) | 21,637 |  |  | 21,015 |  |  | 20,709 |
Equity method investments | 7,212 |  |  | 7,123 |  |  | 6,193 |
Unallocated assets and adjustments (2) | 890 |  |  | 895 |  |  | (387 | )
Total assets | $ | 64,549 |  |  | $ | 62,729 |  |  | $ | 62,957 |
(1) | Segment assets do not reflect outstanding intercompany asset balances as intercompany accounts have been eliminated at a segment level.
(2) | Unallocated assets consist primarily of cash and cash equivalents, deferred income taxes, centrally held property, plant and equipment, prepaid pension assets and derivative financial instrument balances. Final adjustments for jurisdictional netting of deferred tax assets and liabilities is done at a consolidated level.
| For the Years Ended December 31,
| 2019 |  | 2018 |  | 2017
| (in millions)
Depreciation expense (1): |  |  |  |  |
Latin America | $ | 105 |  |  | $ | 97 |  |  | $ | 107 |
AMEA | 164 |  |  | 159 |  |  | 157 |
Europe | 238 |  |  | 248 |  |  | 239 |
North America | 138 |  |  | 131 |  |  | 135 |
Total depreciation expense | $ | 645 |  |  | $ | 635 |  |  | $ | 638 |
(1) | Includes depreciation expense related to owned property, plant and equipment. Does not include amortization of intangible assets or leased assets. Refer to the consolidated statement of cash flows for 2019 for total depreciation and amortization expenses.
| For the Years Ended December 31,
| 2019 |  | 2018 |  | 2017
| (in millions)
Capital expenditures: |  |  |  |  |
Latin America | $ | 197 |  |  | $ | 261 |  |  | $ | 226 |
AMEA | 244 |  |  | 277 |  |  | 280 |
Europe | 297 |  |  | 326 |  |  | 278 |
North America | 187 |  |  | 231 |  |  | 230 |
Total capital expenditures | $ | 925 |  |  | $ | 1,095 |  |  | $ | 1,014 |
Schedule of Net Revenues by Geographic Area | Geographic data for net revenues (recognized in the countries where products are sold) and long-lived assets, excluding deferred tax, goodwill, intangible assets and equity method investments, were:
| For the Years Ended December 31,
| 2019 |  | 2018 |  | 2017
| (in millions)
Net revenues: |  |  |  |  |
United States | $ | 6,625 |  |  | $ | 6,401 |  |  | $ | 6,275 |
Other | 19,243 |  |  | 19,537 |  |  | 19,621 |
Total net revenues | $ | 25,868 |  |  | $ | 25,938 |  |  | $ | 25,896 |
Schedule of Long-lived Assets by Geographic Area |
| As of December 31,
| 2019 |  | 2018 |  | 2017
| (in millions)
Long-lived assets: |  |  |  |  |
United States | $ | 1,806 |  |  | $ | 1,481 |  |  | $ | 1,468 |
Other | 8,370 |  |  | 7,539 |  |  | 7,733 |
Total long-lived assets | $ | 10,176 |  |  | $ | 9,020 |  |  | $ | 9,201 |
Schedule of Net Revenues by Product Category | Net revenues by product category, reflecting our current segment structure for all periods presented, were:
| For the Year Ended December 31, 2019
| Latin America |  | AMEA |  | Europe |  | North America |  | Total
| (in millions)
Biscuits | $ | 708 |  |  | $ | 1,844 |  |  | $ | 2,998 |  |  | $ | 5,888 |  |  | $ | 11,438 |
Chocolate | 710 |  |  | 2,082 |  |  | 5,119 |  |  | 247 |  |  | 8,158 |
Gum & Candy | 823 |  |  | 861 |  |  | 698 |  |  | 973 |  |  | 3,355 |
Beverages | 452 |  |  | 546 |  |  | 97 |  |  | — |  |  | 1,095 |
Cheese & Grocery | 325 |  |  | 437 |  |  | 1,060 |  |  | — |  |  | 1,822 |
Total net revenues | $ | 3,018 |  |  | $ | 5,770 |  |  | $ | 9,972 |  |  | $ | 7,108 |  |  | $ | 25,868 |
| For the Year Ended December 31, 2018
| Latin America |  | AMEA |  | Europe |  | North America |  | Total
| (in millions)
Biscuits | $ | 727 |  |  | $ | 1,724 |  |  | $ | 3,127 |  |  | $ | 5,607 |  |  | $ | 11,185 |
Chocolate | 747 |  |  | 2,080 |  |  | 5,083 |  |  | 267 |  |  | 8,177 |
Gum & Candy | 865 |  |  | 879 |  |  | 736 |  |  | 1,011 |  |  | 3,491 |
Beverages | 533 |  |  | 553 |  |  | 98 |  |  | — |  |  | 1,184 |
Cheese & Grocery | 330 |  |  | 493 |  |  | 1,078 |  |  | — |  |  | 1,901 |
Total net revenues | $ | 3,202 |  |  | $ | 5,729 |  |  | $ | 10,122 |  |  | $ | 6,885 |  |  | $ | 25,938 |
| For the Year Ended December 31, 2017
| Latin America |  | AMEA |  | Europe |  | North America |  | Total
| (in millions)
Biscuits | $ | 779 |  |  | $ | 1,637 |  |  | $ | 2,944 |  |  | $ | 5,479 |  |  | $ | 10,839 |
Chocolate | 862 |  |  | 2,008 |  |  | 4,869 |  |  | 293 |  |  | 8,032 |
Gum & Candy | 919 |  |  | 919 |  |  | 775 |  |  | 1,025 |  |  | 3,638 |
Beverages | 665 |  |  | 569 |  |  | 121 |  |  | — |  |  | 1,355 |
Cheese & Grocery | 341 |  |  | 606 |  |  | 1,085 |  |  | — |  |  | 2,032 |
Total net revenues | $ | 3,566 |  |  | $ | 5,739 |  |  | $ | 9,794 |  |  | $ | 6,797 |  |  | $ | 25,896 |

X
- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8924-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8906-108599 + Details
Name: | us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of all significant reconciling items in the reconciliation of total revenues from reportable segments to the entity's consolidated revenues. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8924-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8906-108599 + Details
Name: | us-gaap_ReconciliationOfRevenueFromSegmentsToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the names of foreign countries in which material long-lived assets other than financial instruments, long-term customer relationships of a financial institution, mortgage and other servicing rights, deferred policy acquisition costs, and deferred tax assets are located, and amount of such long-lived assets located in that country or foreign geographic area. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e9038-108599 + Details
Name: | us-gaap_ScheduleOfEntityWideDisclosureOnGeographicAreasLongLivedAssetsInIndividualForeignCountriesByCountryTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of entity-wide revenues from external customers for each product or service or each group of similar products or services if the information is not provided as part of the reportable operating segment information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e9031-108599 + Details
Name: | us-gaap_ScheduleOfEntityWideInformationRevenueFromExternalCustomersByProductsAndServicesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the names of foreign countries from which revenue is material and the amount of revenue from external customers attributed to those countries. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1) -URI http://asc.fasb.org/extlink&oid=116634182&loc=SL114868664-224227 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e9038-108599 + Details
Name: | us-gaap_ScheduleOfRevenueFromExternalCustomersAttributedToForeignCountriesByGeographicAreaTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=108376223&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8721-108599 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8906-108599 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration