XML 43 R32.htm IDEA: XBRL DOCUMENT
v3.21.2

Debt and Borrowing Arrangements (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2021
Debt Disclosure [Abstract] |
Schedule of Short-Term Borrowings and Related Weighted-Average Interest Rates | Our short-term borrowings and related weighted-average interest rates consisted of:
| As of June 30, 2021 |  | As of December 31, 2020
| Amount Outstanding |  | Weighted- Average Rate |  | Amount Outstanding |  | Weighted- Average Rate
| (in millions, except percentages)
Commercial paper | $ | 13 |  |  | 0.1 | % |  | $ | — |  |  | — | %
Bank loans | 51 |  |  | 8.6 | % |  | 29 |  |  | 4.8 | %
Total short-term borrowings | $ | 64 |  |  |  |  | $ | 29 |  |  |
Schedule of Uncommitted and Committed Credit Lines Available | Our uncommitted credit lines and committed credit lines available as of June 30, 2021 and December 31, 2020 include:
| As of June 30, 2021 |  | As of December 31, 2020
| Facility Amount |  | Borrowed Amount |  | Facility Amount |  | Borrowed Amount
| (in millions)
Uncommitted credit facilities | $ | 1,496 |  |  | $ | 51 |  |  | $ | 1,487 |  |  | $ | 29 |
Credit facility expiry(1): |  |  |  |  |  |  |
February 24, 2021 | — |  |  | — |  |  | 1,500 |  |  | — |
February 23, 2022 | 2,500 |  |  | — |  |  | — |  |  | — |
February 27, 2024 | 4,500 |  |  | — |  |  | 4,500 |  |  | — |
(1) We maintain a multi-year senior unsecured revolving credit facility for general corporate purposes, including working capital needs, and to support our commercial paper program. The revolving credit agreement includes a covenant that we maintain a minimum shareholders' equity of at least $24.6 billion, excluding accumulated other comprehensive earnings/(losses), the cumulative effects of any changes in accounting principles and earnings/(losses) recognized in connection with the ongoing application of any mark-to-market accounting for pensions and other retirement plans. At June 30, 2021, we complied with this covenant as our shareholders' equity, as defined by the covenant, was $38.1 billion. The revolving credit facility also contains customary representations, covenants and events of default. There are no credit rating triggers, provisions or other financial covenants that could require us to post collateral as security.
Schedule of Debt Redemptions | On March 31, 2021, we completed an early redemption of Euro and U.S. dollar denominated notes for the following amounts (in millions):
Interest Rate |  | Maturity Date |  | Amount Redeemed |  | USD Equivalent
1.000% |  | March 2022 |  | €500 |  | $587
1.625% |  | January 2023 |  | €700 |  | $821
2.125% |  | April 2023 |  | $500 |  | $500
4.000% |  | February 2024 |  | $492 |  | $492
Schedule of Debt Repayments | During the six months ended June 30, 2021, we repaid the following notes or term loans (in millions):
Interest Rate |  | Maturity Date |  | Amount |  | USD Equivalent
2.375% |  | January 2021 |  | €679 |  | $827
Schedule of Debt Issuances | During the six months ended June 30, 2021, we issued the following notes (in millions):
Issuance Date |  | Interest Rate |  | Maturity Date |  | Gross Proceeds (1) |  | Gross Proceeds USD Equivalent
March 2021 |  | 1.375% |  | March 2041 |  | €650 |  | $777
March 2021 |  | 0.750% |  | March 2033 |  | €600 |  | $717
March 2021 |  | 0.250% |  | March 2028 |  | €750 |  | $896
(1) Represents gross proceeds from the issuance of notes excluding debt issuance costs, discounts and premiums.
Schedule of Fair Value of Debt | The fair value of our short-term borrowings at June 30, 2021 and December 31, 2020 reflects current market interest rates and approximates the amounts we have recorded on our consolidated balance sheets. The fair value of our long-term debt was determined using quoted prices in active markets (Level 1 valuation data) for the publicly traded debt obligations.
| As of June 30, 2021 |  | As of December 31, 2020
| (in millions)
Fair Value | $ | 19,949 |  |  | $ | 21,568 |
Carrying Value | $ | 19,015 |  |  | $ | 20,046 |
Schedule of Interest and Other Expense | Interest and other expense, net consisted of:
| For the Three Months Ended June 30, |  | For the Six Months Ended June 30,
| 2021 |  | 2020 |  | 2021 |  | 2020
| (in millions)
Interest expense, debt | $ | 90 |  |  | $ | 108 |  |  | $ | 188 |  |  | $ | 218 |
Loss on debt extinguishment and related expenses | — |  |  | — |  |  | 137 |  |  |
Loss related to interest rate swaps | — |  |  | — |  |  | — |  |  | 103 |
Other (income)/expense, net | (32) |  |  | (23) |  |  | (49) |  |  | (46) |
Interest and other expense, net | $ | 58 |  |  | $ | 85 |  |  | $ | 276 |  |  | $ | 275 |

X
- Definition Interest and Other Income and Expense Disclosure, Non Operating [Table Text Block] + References No definition available. + Details
Name: | mdlz_InterestAndOtherIncomeAndExpenseDisclosureNonOperatingTextBlock
Namespace Prefix: | mdlz_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule Of Debt Issuances + References No definition available. + Details
Name: | mdlz_ScheduleOfDebtIssuancesTableTextBlock
Namespace Prefix: | mdlz_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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

X
- Definition Tabular disclosure of debt instruments or arrangements with redemption features. Includes, but is not limited to, description of debt redemption features, percentage price at which debt can be redeemed by the issuer, and period start and end for debt maturity or redemption. + References No definition available. + Details
Name: | us-gaap_DebtInstrumentRedemptionTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information pertaining to carrying amount and estimated fair value of short-term and long-term debt instruments or arrangements, including but not limited to, identification of terms, features, and collateral requirements. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCarryingValuesAndEstimatedFairValuesOfDebtInstrumentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of debt extinguished which may include, amount of gain (loss), the income tax effect and the per share amount of the aggregate gain (loss), net of the related income tax. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7516071&loc=d3e13374-112631 + Details
Name: | us-gaap_ScheduleOfExtinguishmentOfDebtTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_ScheduleOfLineOfCreditFacilitiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of short-term debt arrangements (having initial terms of repayment within one year or the normal operating cycle, if longer) including: (1) description of the short-term debt arrangement; (2) identification of the lender or type of lender; (3) repayment terms; (4) weighted average interest rate; (5) carrying amount of funds borrowed under the specified short-term debt arrangement as of the balance sheet date; (6) description of the refinancing of a short-term obligation when that obligation is excluded from current liabilities in the balance sheet; and (7) amount of a short-term obligation that has been excluded from current liabilities in the balance sheet because of a refinancing of the obligation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_ScheduleOfShortTermDebtTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration