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Reclassifications from Accumulated Other Comprehensive Income

6 Months Ended

Jun. 30, 2023

Equity [Abstract]

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)/gains of $11 million in the second quarter of 2023 and $82 million in the second quarter of 2022 and $41 million in the first six months of 2023 and $40 million in the first six months of 2022..

			For the Three Months Ended June 30,												For the Six Months Ended June 30,
			2023						2022						2023						2022
			(in millions)
Currency Translation Adjustments:
Balance at beginning of period			$	(9,659)					$	(9,043)					$	(9,808)					$	(9,097)
Currency translation adjustments			139						(339)						312						(333)
Tax (expense)/benefit			7						(60)						(15)						(16)
Other comprehensive earnings/(losses)			146						(399)						297						(349)
Less: other comprehensive (earnings)/loss attributable to noncontrolling interests			8						11						6						15
Balance at end of period			(9,505)						(9,431)						(9,505)						(9,431)
Pension and Other Benefit Plans:
Balance at beginning of period			$	(1,111)					$	(1,286)					$	(1,105)					$	(1,379)
Net actuarial gain/(loss) arising during period			(1)						108						1						152
Tax (expense)/benefit on net actuarial gain/(loss)			—						(27)						—						(27)
Losses/(gains) reclassified into net earnings:
Amortization of experience losses and prior service costs (1)			5						16						13						36
Settlement losses and other expenses (1)			3						4						8						7
Tax expense/(benefit) on reclassifications (3)			(3)						(6)						(6)						(12)
Currency impact			(26)						72						(44)						104
Other comprehensive earnings/(losses)			(22)						167						(28)						260
Balance at end of period			(1,133)						(1,119)						(1,133)						(1,119)
Derivative Cash Flow Hedges:
Balance at beginning of period			$	(44)					$	(96)					$	(34)					$	(148)
Net derivative gains/(losses)			(38)						98						(66)						124
Tax (expense)/benefit on net derivative gain/(loss)			4						1						1						—
Losses/(gains) reclassified into net earnings:
Currency exchange contracts(2)			—						3						—						5
Interest rate contracts (2)			5						(99)						23						(53)
Tax expense/(benefit) on reclassifications (3)			1						—						3						(23)
Currency impact			—						5						1						7
Other comprehensive earnings/(losses)			(28)						8						(38)						60
Balance at end of period			(72)						(88)						(72)						(88)
Accumulated other comprehensive income attributable to Mondelēz International:
Balance at beginning of period			$	(10,814)					$	(10,425)					$	(10,947)					$	(10,624)
Total other comprehensive earnings/(losses)			96						(224)						231						(29)
Less: other comprehensive (earnings)/loss attributable to noncontrolling interests			8						11						6						15
Other comprehensive earnings/(losses) attributable to Mondelēz International			104						(213)						237						(14)
Balance at end of period			$	(10,710)					$	(10,638)					$	(10,710)					$	(10,638)

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

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

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

X

- Definition

The entire disclosure for any adjustments made during the period to avoid double counting in comprehensive income items displayed as part of net income that also had been displayed as part of other comprehensive income in that period or earlier periods. These adjustments include reclassifications to net income of items in accumulated comprehensive income, such as deferred gains or losses on qualifying hedges when hedged item reported in net income, holding gains or losses on available-for-sale securities transferred into trading category, unrealized holding gains or losses on debt securities transferred from held-to-maturity category into available-for-sale category and accumulated translation adjustment attributable to foreign subsidiary or investment in foreign entity upon sale or liquidation.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//220/tableOfContent

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- References

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