Reclassifications from Accumulated Other Comprehensive Income

6 Months Ended

Jun. 30, 2022

Reclassifications from Accumulated Other Comprehensive Income

Note 13. Reclassifications from Accumulated Other Comprehensive Income

The following table summarizes the changes in accumulated balances of each component of accumulated other comprehensive earnings/(losses) attributable to Mondelēz International. Amounts reclassified from accumulated other comprehensive earnings/(losses) to net earnings (net of tax) were net losses of $(82) million in the second quarter of 2022 and $25 million in the second quarter of 2021 and $(40) million in the first six months of 2022 and $59 million in the first six months of 2021.


	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2022		2021		2022		2021
	(in millions)
Currency Translation Adjustments:
Balance at beginning of period	$	(9,043)	$	(8,782)	$	(9,097)	$	(8,655)
Currency translation adjustments	(339)		165		(333)		31


Tax (expense)/benefit	(60)		(8)		(16)		(10)
Other comprehensive earnings/(losses)	(399)		157		(349)		21
Less: other comprehensive (earnings)/loss attributable to noncontrolling interests	11		(2)		15		7
Balance at end of period	(9,431)		(8,627)		(9,431)		(8,627)
Pension and Other Benefit Plans:
Balance at beginning of period	$	(1,286)	$	(1,805)	$	(1,379)	$	(1,874)
Net actuarial gain/(loss) arising during period	108		(1)		152		(2)
Tax (expense)/benefit on net actuarial gain/(loss)	(27)		—		(27)		—
Losses/(gains) reclassified into net earnings:
Amortization of experience losses and prior service costs (2)	16		37		36		72
Settlement losses and other expenses (2)	4		6		7		9
Curtailment credit (2)	—		(14)		—		(14)
Tax expense/(benefit) on reclassifications (3)	(6)		(8)		(12)		(17)
Currency impact	72		(18)		104		23
Other comprehensive earnings/(losses)	167		2		260		71
Balance at end of period	(1,119)		(1,803)		(1,119)		(1,803)
Derivative Cash Flow Hedges:
Balance at beginning of period	$	(96)	$	(159)	$	(148)	$	(161)
Net derivative gains/(losses)	98		16		124		9
Tax (expense)/benefit on net derivative gain/(loss)	1		(2)		—		(1)
Losses/(gains) reclassified into net earnings:
Currency exchange contracts(4)	3		—		5		—
Interest rate contracts (2)(4)	(99)		5		(53)		11
Tax expense/(benefit) on reclassifications (3)	—		(1)		(23)		(2)
Currency impact	5		(1)		7		2
Other comprehensive earnings/(losses)	8		17		60		19
Balance at end of period	(88)		(142)		(88)		(142)
Accumulated other comprehensive income attributable to Mondelēz International:
Balance at beginning of period	$	(10,425)	$	(10,746)	$	(10,624)	$	(10,690)
Total other comprehensive earnings/(losses)	(224)		176		(29)		111
Less: other comprehensive (earnings)/loss attributable to noncontrolling interests	11		(2)		15		7
Other comprehensive earnings/(losses) attributable to Mondelēz International	(213)		174		(14)		118
Balance at end of period	$	(10,638)	$	(10,572)	$	(10,638)	$	(10,572)

(1)These reclassified losses are included in net periodic benefit costs disclosed in Note 10, Benefit Plans.

(2)These amounts include equity method investment transactions recorded within gain on equity method investment transactions.

(3)Taxes reclassified to earnings are recorded within the provision for income taxes.

(4)These reclassified gains or losses are recorded within interest and other expense, net.