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Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended
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Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract] |
Schedule of Summary of Operating Results | Our summarized operating results by quarter are detailed below.
| 2020 Quarters
| First (1) |  | Second |  | Third |  | Fourth
| (in millions, except per share data)
Net revenues | $ | 6,707 |  |  | $ | 5,911 |  |  | $ | 6,665 |  |  | $ | 7,298 |
Gross profit | 2,451 |  |  | 2,331 |  |  | 2,792 |  |  | 2,872 |
Income tax (provision)/benefit | (148) |  |  | (341) |  |  | (391) |  |  | (344) |
Gain/(loss) on equity method investment transactions | 71 |  |  | 121 |  |  | 345 |  |  | 452 |
Equity method investment net earnings | 121 |  |  | 106 |  |  | 84 |  |  | 110 |
Net earnings | 743 |  |  | 545 |  |  | 1,122 |  |  | 1,159 |
Noncontrolling interest | (7) |  |  | (1) |  |  | (3) |  |  | (3) |
Net earnings attributable to Mondelēz International | $ | 736 |  |  | $ | 544 |  |  | $ | 1,119 |  |  | $ | 1,156 |
Weighted-average shares for basic EPS | 1,434 |  |  | 1,431 |  |  | 1,432 |  |  | 1,429 |
Plus incremental shares from assumed conversions of stock options and long-term incentive plan shares | 11 |  |  | 8 |  |  | 10 |  |  | 10 |
Weighted-average shares for diluted EPS | 1,445 |  |  | 1,439 |  |  | 1,442 |  |  | 1,439 |
Per share data: |  |  |  |  |  |  |
Basic EPS attributable to Mondelēz International: | $ | 0.51 |  |  | $ | 0.38 |  |  | $ | 0.78 |  |  | $ | 0.81 |
Diluted EPS attributable to Mondelēz International: | $ | 0.51 |  |  | $ | 0.38 |  |  | $ | 0.78 |  |  | $ | 0.80 |
Dividends declared | $ | 0.285 |  |  | $ | 0.285 |  |  | $ | 0.315 |  |  | $ | 0.315 |
| 2019 Quarters (1)
| First |  | Second |  | Third |  | Fourth
| (in millions, except per share data)
Net revenues | $ | 6,538 |  |  | $ | 6,062 |  |  | $ | 6,355 |  |  | $ | 6,913 |
Gross profit | 2,593 |  |  | 2,469 |  |  | 2,516 |  |  | 2,759 |
Income tax (provision)/benefit (2) | (189) |  |  | (216) |  |  | 633 |  |  | (230) |
Gain/(loss) on equity method investment transactions | 23 |  |  | (25) |  |  | — |  |  | — |
Equity method investment net earnings | 166 |  |  | 109 |  |  | 114 |  |  | 112 |
Net earnings | 973 |  |  | 804 |  |  | 1,431 |  |  | 736 |
Noncontrolling interest | (6) |  |  | (1) |  |  | (5) |  |  | (3) |
Net earnings attributable to Mondelēz International | $ | 967 |  |  | $ | 803 |  |  | $ | 1,426 |  |  | $ | 733 |
Weighted-average shares for basic EPS | 1,449 |  |  | 1,445 |  |  | 1,445 |  |  | 1,441 |
Plus incremental shares from assumed conversions of stock options and long-term incentive plan shares | 12 |  |  | 13 |  |  | 13 |  |  | 12 |
Weighted-average shares for diluted EPS | 1,461 |  |  | 1,458 |  |  | 1,458 |  |  | 1,453 |
Per share data: |  |  |  |  |  |  |
Basic EPS attributable to Mondelēz International: | $ | 0.67 |  |  | $ | 0.56 |  |  | $ | 0.99 |  |  | $ | 0.51 |
Diluted EPS attributable to Mondelēz International: | $ | 0.66 |  |  | $ | 0.55 |  |  | $ | 0.98 |  |  | $ | 0.50 |
Dividends declared | $ | 0.26 |  |  | $ | 0.26 |  |  | $ | 0.285 |  |  | $ | 0.285 |
(1)During the second quarter of 2020, we changed to reporting JDE Peet's earnings on a quarter lag basis and we recast all prior periods presented on the same basis. Please see Note 7, Equity Method Investments, for more information. (2)The third quarter of 2019 was significantly impacted by the $769 million net deferred tax benefit related to Swiss tax reform. Refer to Note 16, Income Taxes, for more information.
Schedule of Pre-Tax (Charges)/Gains in Earnings From Continuing Operations | During 2020 and 2019, we recorded the following pre-tax (charges)/benefits in earnings from continuing operations:
| 2020 Quarters
| First |  | Second |  | Third |  | Fourth
| (in millions)
Asset impairment and exit costs | $ | (15) |  |  | $ | (115) |  |  | $ | (123) |  |  | $ | (48) |
Impact from pension participation changes | (3) |  |  | (3) |  |  | (3) |  |  | (2) |
Impact from the resolution of tax matters | — |  |  | — |  |  | — |  |  | 48 |
Loss related to interest rate swaps | (103) |  |  | — |  |  | — |  |  | — |
Loss on debt extinguishment | — |  |  | — |  |  | — |  |  | (185) |
Gain on equity method investment transactions | 71 |  |  | 121 |  |  | 345 |  |  | 452 |
| $ | (50) |  |  | $ | 3 |  |  | $ | 219 |  |  | $ | 265 |
| 2019 Quarters
| First |  | Second |  | Third |  | Fourth
| (in millions)
Asset impairment and exit costs | $ | (20) |  |  | $ | (15) |  |  | $ | (134) |  |  | $ | (59) |
Net gain on divestiture | — |  |  | 41 |  |  | 3 |  |  | — |
Impact from pension participation changes | — |  |  | 35 |  |  | (3) |  |  | (3) |
Impact from the resolution of tax matters | — |  |  | — |  |  | — |  |  | (85) |
Loss related to interest rate swaps | — |  |  | — |  |  | (111) |  |  | — |
Gain/(loss) on equity method investment transactions | 23 |  |  | (25) |  |  | — |  |  | — |
| $ | 3 |  |  | $ | 36 |  |  | $ | (245) |  |  | $ | (147) |

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