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Pay vs Performance Disclosure
12 Months Ended
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Pay vs Performance Disclosure [Table]        
Pay vs Performance [Table Text Block]

PAY VERSUS PERFORMANCE

 

As required by Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and Item 402(v) of Regulation S-K, we are providing the following information about the relationship between executive compensation actually paid and certain financial performance measures of the Company. For further information concerning our pay for performance philosophy and how we align executive compensation with the Company’s performance, refer to the CD&A.

 

            Average
Summary
Compensation
Table Total for
Non-PEO
NEOs(3)
($)
  Average
Compensation
Actually Paid to
Non-PEO
NEOs(4)
($)
  Value of Initial Fixed $100
Investment Based On:
       
Year   Summary
Compensation
Table Total for
PEO(1)
($)
  Compensation
Actually Paid to
PEO(2)
($)
      Total
Shareholder
Return(5)
($)
  Peer Group
Total
Shareholder
Return(6)
($)
  Net
Income(7)
($)
  Adjusted
Gross Profit
Growth(8)
2023   21,018,175   49,732,942   7,057,749   11,428,845   143.96   122.21   4,968   18.8%
2022   17,925,677   27,017,315   4,833,472   6,838,394   129.50   124.71   2,726   12.3%
2021   16,128,320   26,845,406   4,960,822   7,251,942   125.82   125.27   4,314   3.5%
2020   16,842,693   22,512,182   5,506,309   6,295,101   108.58   109.26   3,569   3.6%

 

(1) The dollar amounts reported are the amounts of total compensation reported in the “Total Compensation” column of our SCT for Mr. Van de Put, our Principal Executive Officer (PEO).

(2) The dollar amounts reported represent the amount of “compensation actually paid,” as computed in accordance with SEC rules. The dollar amounts do not reflect the actual amount of compensation earned by or paid during the applicable year. In accordance with SEC rules, the following adjustments were made to 2023 total compensation to determine the 2023 compensation actually paid:

 

  Year   Reported Summary
Compensation Table
Total for PEO
($)
  Less Reported
Value of Equity
Awards(a)
($)
  Plus Equity Award
Adjustments(b)
($)
  Compensation Actually
Paid to PEO
($)
  2023   21,018,175   14,127,019   42,841,786   49,732,942

 

  (a) The dollar amount reported represents the grant date fair value of equity awards reported in the “Stock Awards” and “Option Awards” columns of our SCT for the year.
  (b) The equity award adjustments are calculated in accordance with SEC rules and the valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of grant. The amounts deducted or added in calculating the 2023 equity award adjustments are as follows:

 

                  Year   Plus Year End Fair Value
of Outstanding and
Unvested Equity Awards
Granted in the Year
($)
  Plus or Less Year over
Year Change in Fair Value
of Outstanding and
Unvested Equity Awards
Granted in Prior Years
($)
  Plus or Less Change in
Fair Value from Prior Year
End through the Vesting Date
for Equity Awards Granted
in Prior Years that Vested
in the Year
($)
  Plus Value of Dividends on
Stock not Otherwise
Reflected in Fair Value or
Total Compensation
($)
  Total Equity
Award
Adjustments
($)
  2023   23,836,372   17,084,654   628,005   1,292,755   42,841,786

 

(3) The dollar amounts reported represent the average of the amounts reported for our NEOs as a group (excluding our PEO) in the “Total Compensation” column of our SCT in each applicable year. The names of each of the NEOs (excluding our PEO) included for purposes of calculating the average amounts in each applicable year are as follows: (i) for 2023, Mr. Zaramella, Mr. Gruber, Mr. Brusadelli, Ms. Stein and Mr. Valle; (ii) for 2022, Mr. Zaramella, Mr. Gruber, Mr. Brusadelli and Mr. Valle; (iii) for 2021, Mr. Zaramella, Mr. Gruber, Mr. Brusadelli and Ms. Stein; and (iv) for 2020, Mr. Zaramella, Mr. Gruber, Mr. Brusadelli and Mr. Walter. As noted in the footnotes to the SCT, due to administrative error, the retirement contribution equalization payments for Mr. Brusadelli were inadvertently excluded from his compensation in prior proxy statements; as such, we have adjusted his 2021 and 2022 compensation amounts in the SCT and the average SCT amounts above for the applicable year to include such payments.
 
(4) The dollar amounts reported represent the average amount of “compensation actually paid” to the NEOs as a group (excluding our PEO), as computed in accordance with SEC rules. The dollar amounts do not reflect the actual average amount of compensation earned by or paid to the NEOs as a group (excluding our PEO) during the applicable year. In accordance with the SEC rules, the following adjustments were made to average total compensation for the NEOs as a group (excluding our PEO) for each year to determine the compensation actually paid, using the same methodology described above in Note 2. This adjustment also includes adjustments to the pension values, as computed in accordance with SEC rules, show below. 

 

  Year   Average Reported
Summary Compensation
Table Total for
Non-PEO NEOs
($)
  Less Average
Reported Value of
Equity Awards
($)
  Plus Average
Equity Award
Adjustments(a)
($)
  Less Average
Reported Change
in the Actuarial
Present Value of
Pension Benefits(b)
($)
  Plus Average
Pension Benefit
Adjustments(c)
($)
  Average
Compensation
Actually Paid to
Non-PEO NEOs
($)
  2023   7,057,749   3,286,068   8,140,319   521,355   38,200   11,428,845

 

  (a) The amounts deducted or added in calculating the total average equity award adjustments are as follows:
 
 

 

  Year  

Plus Average

Year End Fair

Value of

Outstanding

and Unvested

Equity

Awards Granted

in the Year

($)

 

Plus or Less

Average Year

over Year Change

in Fair Value of

Outstanding and

Unvested Equity

Awards Granted

in Prior Years

($)

 

Plus or Less

Average

Change in Fair

Value from

Prior Year End

through the

Vesting Date for

Equity Awards

Granted in Prior

Years that

Vested in the Year

($)

 

Less Average

Fair Value at the

End of the Prior Year of

Equity Awards that

Failed to Meet Vesting

Conditions

in the Year

($)

 

Plus Average Value of

Dividends on Stock

Awards not Otherwise

Reflected in Fair Value or

Total Compensation

($)

 

Total Average

Equity Award

Adjustments

($)

  2023   4,661,681   3,396,525   110,879   (276,430)   247,664   8,140,319

 

  (b) Represents the average of the amount reported in our SCT in the “Change in Pension Value” column for the year.
  (c) Represents the aggregate of two components: (i) the actuarial determined service cost under the Pension Fund Mondelēz Switzerland for services rendered during the year; and (ii) the entire cost of benefits granted in a plan amendment (or initiation) during the year that are attributed by the benefit formula to services rendered in periods prior to the plan amendment or initiation, in each case, calculated in accordance with U.S. GAAP, on an average basis.

 

(5) Cumulative TSR is calculated by dividing the sum of the cumulative amount of dividends for the measurement period, assuming dividend reinvestment, and the difference between our share price at the end and the beginning of the measurement period by our share price at the beginning of the measurement period.
(6) Represents the weighted peer group TSR, weighted according to the respective company’s stock market capitalization at the beginning of each period for which a return is indicated. The peer group used for this purpose is our Performance Peer Group as reported in the Form 10-K of the applicable year, which included Campbell Soup Company, The Coca-Cola Company, Colgate-Palmolive Company, Danone S.A., General Mills, Inc., The Hershey Company, Kellanova (formerly Kellogg Company), The Kraft Heinz Company, Nestlé S.A., PepsiCo, Inc., The Procter & Gamble Company and Unilever PLC.
(7) Dollar values stated in millions. The dollar amounts reported represent the amount of net income reflected in our audited financial statements for the applicable year.
(8) The percentages reported represent the amount of adjusted gross profit growth for the applicable year. A more detailed discussion, including definitions of such financial measures appears in Annex A.
     
Company Selected Measure Name adjusted gross profit growth      
Named Executive Officers, Footnote [Text Block]

(1) The dollar amounts reported are the amounts of total compensation reported in the “Total Compensation” column of our SCT for Mr. Van de Put, our Principal Executive Officer (PEO).

(3) The dollar amounts reported represent the average of the amounts reported for our NEOs as a group (excluding our PEO) in the “Total Compensation” column of our SCT in each applicable year. The names of each of the NEOs (excluding our PEO) included for purposes of calculating the average amounts in each applicable year are as follows: (i) for 2023, Mr. Zaramella, Mr. Gruber, Mr. Brusadelli, Ms. Stein and Mr. Valle; (ii) for 2022, Mr. Zaramella, Mr. Gruber, Mr. Brusadelli and Mr. Valle; (iii) for 2021, Mr. Zaramella, Mr. Gruber, Mr. Brusadelli and Ms. Stein; and (iv) for 2020, Mr. Zaramella, Mr. Gruber, Mr. Brusadelli and Mr. Walter. As noted in the footnotes to the SCT, due to administrative error, the retirement contribution equalization payments for Mr. Brusadelli were inadvertently excluded from his compensation in prior proxy statements; as such, we have adjusted his 2021 and 2022 compensation amounts in the SCT and the average SCT amounts above for the applicable year to include such payments.
     
Peer Group Issuers, Footnote [Text Block] Represents the weighted peer group TSR, weighted according to the respective company’s stock market capitalization at the beginning of each period for which a return is indicated. The peer group used for this purpose is our Performance Peer Group as reported in the Form 10-K of the applicable year, which included Campbell Soup Company, The Coca-Cola Company, Colgate-Palmolive Company, Danone S.A., General Mills, Inc., The Hershey Company, Kellanova (formerly Kellogg Company), The Kraft Heinz Company, Nestlé S.A., PepsiCo, Inc., The Procter & Gamble Company and Unilever PLC.      
PEO Total Compensation Amount [1] $ 21,018,175 $ 17,925,677 $ 16,128,320 $ 16,842,693
PEO Actually Paid Compensation Amount [2] $ 49,732,942 27,017,315 26,845,406 22,512,182
Adjustment To PEO Compensation, Footnote [Text Block]

  Year   Reported Summary
Compensation Table
Total for PEO
($)
  Less Reported
Value of Equity
Awards(a)
($)
  Plus Equity Award
Adjustments(b)
($)
  Compensation Actually
Paid to PEO
($)
  2023   21,018,175   14,127,019   42,841,786   49,732,942

 

  (a) The dollar amount reported represents the grant date fair value of equity awards reported in the “Stock Awards” and “Option Awards” columns of our SCT for the year.
  (b) The equity award adjustments are calculated in accordance with SEC rules and the valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of grant. The amounts deducted or added in calculating the 2023 equity award adjustments are as follows:

 

                  Year   Plus Year End Fair Value
of Outstanding and
Unvested Equity Awards
Granted in the Year
($)
  Plus or Less Year over
Year Change in Fair Value
of Outstanding and
Unvested Equity Awards
Granted in Prior Years
($)
  Plus or Less Change in
Fair Value from Prior Year
End through the Vesting Date
for Equity Awards Granted
in Prior Years that Vested
in the Year
($)
  Plus Value of Dividends on
Stock not Otherwise
Reflected in Fair Value or
Total Compensation
($)
  Total Equity
Award
Adjustments
($)
  2023   23,836,372   17,084,654   628,005   1,292,755   42,841,786
     
Non-PEO NEO Average Total Compensation Amount [3] $ 7,057,749 4,833,472 4,960,822 5,506,309
Non-PEO NEO Average Compensation Actually Paid Amount [4] $ 11,428,845 6,838,394 7,251,942 6,295,101
Adjustment to Non-PEO NEO Compensation Footnote [Text Block]

 

  Year   Average Reported
Summary Compensation
Table Total for
Non-PEO NEOs
($)
  Less Average
Reported Value of
Equity Awards
($)
  Plus Average
Equity Award
Adjustments(a)
($)
  Less Average
Reported Change
in the Actuarial
Present Value of
Pension Benefits(b)
($)
  Plus Average
Pension Benefit
Adjustments(c)
($)
  Average
Compensation
Actually Paid to
Non-PEO NEOs
($)
  2023   7,057,749   3,286,068   8,140,319   521,355   38,200   11,428,845

 

  (a) The amounts deducted or added in calculating the total average equity award adjustments are as follows:
 
 

 

  Year  

Plus Average

Year End Fair

Value of

Outstanding

and Unvested

Equity

Awards Granted

in the Year

($)

 

Plus or Less

Average Year

over Year Change

in Fair Value of

Outstanding and

Unvested Equity

Awards Granted

in Prior Years

($)

 

Plus or Less

Average

Change in Fair

Value from

Prior Year End

through the

Vesting Date for

Equity Awards

Granted in Prior

Years that

Vested in the Year

($)

 

Less Average

Fair Value at the

End of the Prior Year of

Equity Awards that

Failed to Meet Vesting

Conditions

in the Year

($)

 

Plus Average Value of

Dividends on Stock

Awards not Otherwise

Reflected in Fair Value or

Total Compensation

($)

 

Total Average

Equity Award

Adjustments

($)

  2023   4,661,681   3,396,525   110,879   (276,430)   247,664   8,140,319

 

  (b) Represents the average of the amount reported in our SCT in the “Change in Pension Value” column for the year.
  (c) Represents the aggregate of two components: (i) the actuarial determined service cost under the Pension Fund Mondelēz Switzerland for services rendered during the year; and (ii) the entire cost of benefits granted in a plan amendment (or initiation) during the year that are attributed by the benefit formula to services rendered in periods prior to the plan amendment or initiation, in each case, calculated in accordance with U.S. GAAP, on an average basis.
     
Compensation Actually Paid vs. Total Shareholder Return [Text Block]

 

     
Compensation Actually Paid vs. Net Income [Text Block]

     
Compensation Actually Paid vs. Company Selected Measure [Text Block]

     
Total Shareholder Return Vs Peer Group [Text Block]

     
Tabular List [Table Text Block]

FINANCIAL PERFORMANCE MEASURES

 

As described in greater detail in the CD&A, our executive compensation program reflects a variable pay-for-performance philosophy. The metrics that we use for our executive awards are selected based on an objective of incentivizing our NEOs to increase the value of our enterprise for our shareholders. The most important financial performance measures we used to link executive compensation actually paid to our NEOs, for the most recently completed fiscal year, to our performance are as follows:

 

Organic Volume Growth
Organic Net Revenue Growth
Adjusted Gross Profit Growth
Adjusted Operating Income Growth
Market Share
Adjusted Earnings Per Share Growth
Annualized Relative Total Shareholder Return
     
Total Shareholder Return Amount [5] $ 143.96 129.50 125.82 108.58
Peer Group Total Shareholder Return Amount [6] 122.21 124.71 125.27 109.26
Net Income (Loss) Attributable to Parent [7] $ 4,968,000,000 $ 2,726,000,000 $ 4,314,000,000 $ 3,569,000,000
Company Selected Measure Amount [8] 0.188 0.123 0.035 0.036
PEO Name Mr. Van de Put Mr. Van de Put Mr. Van de Put Mr. Van de Put
Measure [Axis]: 1        
Pay vs Performance Disclosure [Table]        
Measure Name Organic Volume Growth      
Measure [Axis]: 2        
Pay vs Performance Disclosure [Table]        
Measure Name Organic Net Revenue Growth      
Measure [Axis]: 3        
Pay vs Performance Disclosure [Table]        
Measure Name Adjusted Gross Profit Growth      
Measure [Axis]: 4        
Pay vs Performance Disclosure [Table]        
Measure Name Adjusted Operating Income Growth      
Measure [Axis]: 5        
Pay vs Performance Disclosure [Table]        
Measure Name Market Share      
Measure [Axis]: 6        
Pay vs Performance Disclosure [Table]        
Measure Name Adjusted Earnings Per Share Growth      
Measure [Axis]: 7        
Pay vs Performance Disclosure [Table]        
Measure Name Annualized Relative Total Shareholder Return      
PEO [Member] | Less Reported Value of Equity Awards        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount [9] $ (14,127,019)      
PEO [Member] | Plus Equity Award Adjustments        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount [10] 42,841,786      
PEO [Member] | Plus Year End Fair Value of Outstandingand Unvested Equity Awards Granted in the Year        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount 23,836,372      
PEO [Member] | Plus or Less Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards Granted in Prior Years        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount 17,084,654      
PEO [Member] | Plus or Less Change in Fair Value from Prior Year End through the Vesting Date for Equity Awards Granted in Prior Years that Vested in the Year        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount 628,005      
PEO [Member] | Plus Value of Dividends on Stock not Otherwise Reflected in Fair Value or Total Compensation        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount 1,292,755      
Non-PEO NEO [Member] | Less Average Reported Value of Equity Awards        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount (3,286,068)      
Non-PEO NEO [Member] | Plus Average Equity Award Adjustments        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount [11] 8,140,319      
Non-PEO NEO [Member] | Less Average Reported Change in the Actuarial Present Value of Pension Benefits        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount [12] (521,355)      
Non-PEO NEO [Member] | Plus Average Pension Benefit Adjustments        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount [13] 38,200      
Non-PEO NEO [Member] | Plus Average Year End Fair Value of Outstanding and Unvested Equity Awards Granted in the Year        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount 4,661,681      
Non-PEO NEO [Member] | Plus or Less Average Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards Granted in Prior Years        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount 3,396,525      
Non-PEO NEO [Member] | Plus or Less Average Change in Fair Value from Prior Year End through the Vesting Date for Equity Awards Granted in Prior Years that Vested in the Year        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount 110,879      
Non-PEO NEO [Member] | Less Average Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount (276,430)      
Non-PEO NEO [Member] | Plus Average Value of Dividends on Stock Awards not Otherwise Reflected in Fair Value or Total Compensation        
Pay vs Performance Disclosure [Table]        
Adjustment to Compensation Amount $ 247,664      
[1] The dollar amounts reported are the amounts of total compensation reported in the “Total Compensation” column of our SCT for Mr. Van de Put, our Principal Executive Officer (PEO).
[2] The dollar amounts reported represent the amount of “compensation actually paid,” as computed in accordance with SEC rules. The dollar amounts do not reflect the actual amount of compensation earned by or paid during the applicable year. In accordance with SEC rules, the following adjustments were made to 2023 total compensation to determine the 2023 compensation actually paid:
[3] The dollar amounts reported represent the average of the amounts reported for our NEOs as a group (excluding our PEO) in the “Total Compensation” column of our SCT in each applicable year. The names of each of the NEOs (excluding our PEO) included for purposes of calculating the average amounts in each applicable year are as follows: (i) for 2023, Mr. Zaramella, Mr. Gruber, Mr. Brusadelli, Ms. Stein and Mr. Valle; (ii) for 2022, Mr. Zaramella, Mr. Gruber, Mr. Brusadelli and Mr. Valle; (iii) for 2021, Mr. Zaramella, Mr. Gruber, Mr. Brusadelli and Ms. Stein; and (iv) for 2020, Mr. Zaramella, Mr. Gruber, Mr. Brusadelli and Mr. Walter. As noted in the footnotes to the SCT, due to administrative error, the retirement contribution equalization payments for Mr. Brusadelli were inadvertently excluded from his compensation in prior proxy statements; as such, we have adjusted his 2021 and 2022 compensation amounts in the SCT and the average SCT amounts above for the applicable year to include such payments.
[4] The dollar amounts reported represent the average amount of “compensation actually paid” to the NEOs as a group (excluding our PEO), as computed in accordance with SEC rules. The dollar amounts do not reflect the actual average amount of compensation earned by or paid to the NEOs as a group (excluding our PEO) during the applicable year. In accordance with the SEC rules, the following adjustments were made to average total compensation for the NEOs as a group (excluding our PEO) for each year to determine the compensation actually paid, using the same methodology described above in Note 2. This adjustment also includes adjustments to the pension values, as computed in accordance with SEC rules, show below. 
[5] Cumulative TSR is calculated by dividing the sum of the cumulative amount of dividends for the measurement period, assuming dividend reinvestment, and the difference between our share price at the end and the beginning of the measurement period by our share price at the beginning of the measurement period.
[6] Represents the weighted peer group TSR, weighted according to the respective company’s stock market capitalization at the beginning of each period for which a return is indicated. The peer group used for this purpose is our Performance Peer Group as reported in the Form 10-K of the applicable year, which included Campbell Soup Company, The Coca-Cola Company, Colgate-Palmolive Company, Danone S.A., General Mills, Inc., The Hershey Company, Kellanova (formerly Kellogg Company), The Kraft Heinz Company, Nestlé S.A., PepsiCo, Inc., The Procter & Gamble Company and Unilever PLC.
[7] Dollar values stated in millions. The dollar amounts reported represent the amount of net income reflected in our audited financial statements for the applicable year.
[8] The percentages reported represent the amount of adjusted gross profit growth for the applicable year. A more detailed discussion, including definitions of such financial measures appears in Annex A.
[9] The dollar amount reported represents the grant date fair value of equity awards reported in the “Stock Awards” and “Option Awards” columns of our SCT for the year.
[10] The equity award adjustments are calculated in accordance with SEC rules and the valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of grant. The amounts deducted or added in calculating the 2023 equity award adjustments are as follows:
[11] The amounts deducted or added in calculating the total average equity award adjustments are as follows:
[12] Represents the average of the amount reported in our SCT in the “Change in Pension Value” column for the year.
[13] Represents the aggregate of two components: (i) the actuarial determined service cost under the Pension Fund Mondelēz Switzerland for services rendered during the year; and (ii) the entire cost of benefits granted in a plan amendment (or initiation) during the year that are attributed by the benefit formula to services rendered in periods prior to the plan amendment or initiation, in each case, calculated in accordance with U.S. GAAP, on an average basis.