XML 29 R17.htm IDEA: XBRL DOCUMENT v3.25.3
Benefit Plans
 9 Months Ended
Sep. 30, 2025
Retirement Benefits [Abstract]  
Benefit Plans
Note 9. Benefit Plans

Pension Plans

Components of Net Periodic Pension Cost
Net periodic pension cost/(benefit) consisted of the following:
 U.S. PlansNon-U.S. Plans
 For the Three Months Ended
September 30,		For the Three Months Ended
September 30,
 2025202420252024
 (in millions)
Service cost$1 $— $15 $16 
Interest cost6 15 69 72 
Expected return on plan assets(12)(23)(106)(108)
Amortization of net loss and prior service cost
— 1 17 16 
Settlement losses
— 3 54 — 
  Net periodic pension (benefit)/cost
$(5)$(4)$49 $(4)
 U.S. PlansNon-U.S. Plans
 For the Nine Months Ended
September 30,		For the Nine Months Ended
September 30,
 2025202420252024
 (in millions)
Service cost$2 $2 $46 $46 
Interest cost32 45 204 214 
Expected return on plan assets(45)(69)(317)(324)
Amortization of net loss and prior service cost
2 1 52 48 
Settlement losses
292 9 54 — 
  Net periodic pension cost/(benefit)
$283 $(12)$39 $(16)

Employer Contributions
During the nine months ended September 30, 2025, we contributed $2 million and $62 million to our U.S. and non-U.S. pension plans, respectively. We make contributions to our pension plans in accordance with local funding arrangements and statutory minimum funding requirements. Discretionary contributions are made to the extent that they are tax deductible and do not generate an excise tax liability.

As of September 30, 2025, we plan to make further contributions of approximately $9 million to our U.S. plans and $6 million to our non-U.S. plans for the remainder of 2025. However, our actual contributions may be different due to many factors, including changes in tax and other benefit laws, significant differences between expected and actual pension asset performance or changes in interest rates.
Mondelēz Global LLC Retirement Plan Settlement
During the third quarter of 2024, we entered into agreements with two third-party insurance companies to purchase buy-in annuity contracts to cover the liabilities associated with the Mondelēz Global LLC Retirement Plan (“MDLZ Global Plan”), the pension plan for U.S. salaried employees. The agreements provided us with the option to elect a buy-out conversion, at which time full responsibility of the MDLZ Global Plan obligations would transfer to the insurance companies. On June 12, 2025 we elected the buy-out conversion and recognized a non-cash pre-tax settlement loss of $282 million as a component of our net periodic pension cost in the second quarter of 2025. That settlement loss is recorded within Benefit plan non-service (expense)/income in the condensed consolidated statements of earnings.

Mondelez Canada Inc. - Trusteed Hourly Retirement Plan and Retirement Plan Settlement
During the third quarter of 2025, we entered into an agreement with a third-party insurance company to buy-out the retiree participants' obligations of the Mondelez Canada Inc. Trusteed Hourly Retirement Plan and Mondelez Canada Inc. Retirement Plan (collectively, "Canadian Pension Plans"). On September 11, 2025 the obligations were transferred to the insurance company and we recognized a non-cash pre-tax settlement loss of $54 million as a component of our net periodic pension cost in the third quarter of 2025. That settlement loss is recorded within Benefit plan non-service (expense)/income in the condensed consolidated statements of earnings.

Multiemployer Pension Plans
On July 11, 2019, we received a withdrawal liability assessment from the Bakery and Confectionery Union and the Industry International Pension Fund requiring pro-rata monthly payments over 20 years and we recorded a discounted liability of $491 million at that time. In connection with the discounted long-term liability, we recorded accreted interest of $2 million for both the three months ended September 30, 2025 and 2024 and $7 million for both the nine months ended September 30, 2025 and 2024 within Interest and other expense, net in the condensed consolidated statements of earnings. As of September 30, 2025, the remaining discounted withdrawal liability was $298 million, with $16 million recorded in Other current liabilities and $282 million recorded in Other liabilities in the condensed consolidated balance sheets.

Postretirement and Postemployment Benefit Plans
The net periodic postretirement benefit was $3 million for both the three months ended September 30, 2025 and 2024, and $9 million and $8 million for the nine months ended September 30, 2025 and 2024, respectively. The net periodic postemployment cost was $5 million for both the three months ended September 30, 2025 and 2024 and $16 million for both the nine months ended September 30, 2025 and 2024.