XML 52 R38.htm IDEA: XBRL DOCUMENT
v3.20.2

Segment Reporting (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2020
Segment Reporting [Abstract] |
Schedule of Segment Net Revenues and Earnings | Our segment net revenues and earnings were:
| For the Three Months Ended June 30, |  | For the Six Months Ended June 30,
| 2020 |  | 2019 |  | 2020 |  | 2019
| (in millions)
Net revenues: |  |  |  |  |  |  |
Latin America | $ | 511 |  |  | $ | 737 |  |  | $ | 1,237 |  |  | $ | 1,537 |
AMEA | 1,237 |  |  | 1,352 |  |  | 2,739 |  |  | 2,893 |
Europe | 2,138 |  |  | 2,247 |  |  | 4,722 |  |  | 4,798 |
North America | 2,025 |  |  | 1,726 |  |  | 3,920 |  |  | 3,372 |
Net revenues | $ | 5,911 |  |  | $ | 6,062 |  |  | $ | 12,618 |  |  | $ | 12,600 |
Earnings before income taxes: |  |  |  |  |  |  |
Operating income: |  |  |  |  |  |  |
Latin America | $ | (6 | ) |  | $ | 68 |  |  | $ | 72 |  |  | $ | 166 |
AMEA | 171 |  |  | 191 |  |  | 405 |  |  | 447 |
Europe | 297 |  |  | 408 |  |  | 769 |  |  | 908 |
North America | 424 |  |  | 407 |  |  | 805 |  |  | 726 |
Unrealized (losses)/gains on hedging activities (mark-to-market impacts) | (2 | ) |  | 33 |  |  | (187 | ) |  | 49 |
General corporate expenses | (111 | ) |  | (79 | ) |  | (187 | ) |  | (188 | )
Amortization of intangibles | (50 | ) |  | (43 | ) |  | (93 | ) |  | (87 | )
Net gain on divestiture | — |  |  | 41 |  |  | — |  |  | 41 |
Acquisition-related costs | (10 | ) |  | (1 | ) |  | (15 | ) |  | (1 | )
Operating income | 713 |  |  | 1,025 |  |  | 1,569 |  |  | 2,061 |
Benefit plan non-service income | 31 |  |  | 12 |  |  | 64 |  |  | 29 |
Interest and other expense, net | (85 | ) |  | (101 | ) |  | (275 | ) |  | (181 | )
Earnings before income taxes | $ | 659 |  |  | $ | 936 |  |  | $ | 1,358 |  |  | $ | 1,909 |
Schedule of Net Revenues by Product Category | Net revenues by product category were:
| For the Three Months Ended June 30, 2020
| Latin America |  | AMEA |  | Europe |  | North America |  | Total
| (in millions)
Biscuits | $ | 154 |  |  | $ | 458 |  |  | $ | 694 |  |  | $ | 1,804 |  |  | $ | 3,110 |
Chocolate | 119 |  |  | 361 |  |  | 1,001 |  |  | 39 |  |  | 1,520 |
Gum & Candy | 65 |  |  | 153 |  |  | 135 |  |  | 182 |  |  | 535 |
Beverages | 90 |  |  | 157 |  |  | 20 |  |  | — |  |  | 267 |
Cheese & Grocery | 83 |  |  | 108 |  |  | 288 |  |  | — |  |  | 479 |
Total net revenues | $ | 511 |  |  | $ | 1,237 |  |  | $ | 2,138 |  |  | $ | 2,025 |  |  | $ | 5,911 |
| For the Three Months Ended June 30, 2019
| Latin America |  | AMEA |  | Europe |  | North America |  | Total
| (in millions)
Biscuits | $ | 186 |  |  | $ | 405 |  |  | $ | 767 |  |  | $ | 1,451 |  |  | $ | 2,809 |
Chocolate | 157 |  |  | 438 |  |  | 1,006 |  |  | 42 |  |  | 1,643 |
Gum & Candy | 209 |  |  | 224 |  |  | 181 |  |  | 233 |  |  | 847 |
Beverages | 108 |  |  | 169 |  |  | 20 |  |  | — |  |  | 297 |
Cheese & Grocery | 77 |  |  | 116 |  |  | 273 |  |  | — |  |  | 466 |
Total net revenues | $ | 737 |  |  | $ | 1,352 |  |  | $ | 2,247 |  |  | $ | 1,726 |  |  | $ | 6,062 |
| For the Six Months Ended June 30, 2020
| Latin America |  | AMEA |  | Europe |  | North America |  | Total
| (in millions)
Biscuits | $ | 328 |  |  | $ | 966 |  |  | $ | 1,440 |  |  | $ | 3,402 |  |  | $ | 6,136 |
Chocolate | 313 |  |  | 904 |  |  | 2,364 |  |  | 95 |  |  | 3,676 |
Gum & Candy | 247 |  |  | 338 |  |  | 308 |  |  | 423 |  |  | 1,316 |
Beverages | 192 |  |  | 328 |  |  | 45 |  |  | — |  |  | 565 |
Cheese & Grocery | 157 |  |  | 203 |  |  | 565 |  |  | — |  |  | 925 |
Total net revenues | $ | 1,237 |  |  | $ | 2,739 |  |  | $ | 4,722 |  |  | $ | 3,920 |  |  | $ | 12,618 |
| For the Six Months Ended June 30, 2019
| Latin America |  | AMEA |  | Europe |  | North America |  | Total
| (in millions)
Biscuits | $ | 356 |  |  | $ | 866 |  |  | $ | 1,501 |  |  | $ | 2,823 |  |  | $ | 5,546 |
Chocolate | 387 |  |  | 995 |  |  | 2,366 |  |  | 101 |  |  | 3,849 |
Gum & Candy | 409 |  |  | 449 |  |  | 354 |  |  | 448 |  |  | 1,660 |
Beverages | 231 |  |  | 341 |  |  | 46 |  |  | — |  |  | 618 |
Cheese & Grocery | 154 |  |  | 242 |  |  | 531 |  |  | — |  |  | 927 |
Total net revenues | $ | 1,537 |  |  | $ | 2,893 |  |  | $ | 4,798 |  |  | $ | 3,372 |  |  | $ | 12,600 |

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=120311839&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=120311839&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 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=120311839&loc=d3e9031-108599 + Details
Name: | us-gaap_ScheduleOfEntityWideInformationRevenueFromExternalCustomersByProductsAndServicesTextBlock
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