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Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Schedule of Segment Net Revenues and Earnings

Our segment net revenue, significant segment expenses and operating income, by reportable segment were as follows:

			Three Months Ended March 31, 2025
			(in millions)
			Latin America						AMEA						Europe						North America						Total
Net revenues			$	1,203					$	2,016					$	3,550					$	2,544					$	9,313
Segment cost of sales			(815)						(1,270)						(2,541)						(1,583)						(6,209)
Segment selling, general and administrative expenses (1)			(249)						(403)						(547)						(476)						(1,675)
Segment operating income			$	139					$	343					$	462					$	485					1,429
Mark-to-market losses on commodity and foreign currency derivatives																											(669)
General corporate expenses																											(43)
Amortization of intangible assets																											(37)
Operating income																											$	680

			Three Months Ended March 31, 2024
			(in millions)
			Latin America						AMEA						Europe						North America						Total
Net revenues			$	1,319					$	1,950					$	3,368					$	2,653					$	9,290
Segment cost of sales			(866)						(1,138)						(2,137)						(1,525)						(5,666)
Segment selling, general and administrative expenses (1)			(296)						(401)						(640)						(579)						(1,916)
Segment operating income			$	157					$	411					$	591					$	549					1,708
Mark-to-market gains on commodity and foreign currency derivatives																											1,124
General corporate expenses																											(67)
Amortization of intangible assets																											(38)
Operating income																											$	2,727

(1) SG&A for all reportable segments includes: Advertising & consumer expenses and overhead expenses.

Schedule of Total Depreciation Expense and Capital Expenditure by Segment

Total depreciation expense and capital expenditures by segment, reflecting our current segment structure for all periods presented, were:

			Three Months Ended March 31,
			2025						2024
			(in millions)
Depreciation expense (2):
Latin America			$	34					$	38
AMEA			41						40
Europe			71						67
North America			43						38
Corporate			11						13
Total depreciation expense			$	200					$	196

(2) Includes depreciation expense related to owned property, plant and equipment. Does not include amortization of intangible assets or leased assets. Refer to the consolidated statement of cash flows for total depreciation and amortization expenses.

			Three Months Ended March 31,
			2025						2024
			(in millions)
Capital expenditures:
Latin America			$	(35)					$	(38)
AMEA			(54)						(52)
Europe			(123)						(141)
North America			(64)						(63)
Corporate			(1)						(5)
Total capital expenditures			$	(277)					$	(299)

Schedule of Net Revenues by Product Category

Net revenues by product category, reflecting our current segment structure for all periods presented, were:

			For the Three Months Ended March 31, 2025
			Latin America						AMEA						Europe						North America						Total
			(in millions)
Biscuits & Baked Snacks			$	287					$	736					$	1,088					$	2,220					$	4,331
Chocolate			369						773						1,940						100						3,182
Gum & Candy			341						243						162						224						970
Beverages			96						164						37						—						297
Cheese & Grocery			110						100						323						—						533
Total net revenues			$	1,203					$	2,016					$	3,550					$	2,544					$	9,313
			For the Three Months Ended March 31, 2024
			Latin America						AMEA						Europe						North America						Total
			(in millions)
Biscuits & Baked Snacks			$	286					$	644					$	1,030					$	2,339					$	4,299
Chocolate			382						771						1,770						91						3,014
Gum & Candy			393						234						206						223						1,056
Beverages			130						189						34						—						353
Cheese & Grocery			128						112						328						—						568
Total net revenues			$	1,319					$	1,950					$	3,368					$	2,653					$	9,290

X

- Definition

Tabular disclosure of all significant reconciling items in the reconciliation of total revenues from reportable segments to the entity's consolidated revenues.

+ References

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-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-31

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X

- Definition

Tabular disclosure of entity-wide revenues from external customers for each product or service or each group of similar products or services if the information is not provided as part of the reportable operating segment information.

+ References

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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