Company Quick10K Filing
Mondelez
Price55.39 EPS3
Shares1,459 P/E20
MCap80,814 P/FCF43
Net Debt19,520 EBIT3,865
TEV100,334 TEV/EBIT26
TTM 2019-09-30, in MM, except price, ratios
10-Q 2020-06-30 Filed 2020-07-29
10-Q 2020-03-31 Filed 2020-04-29
10-K 2019-12-31 Filed 2020-02-07
10-Q 2019-09-30 Filed 2019-10-30
10-Q 2019-06-30 Filed 2019-07-31
10-Q 2019-03-31 Filed 2019-05-01
10-K 2018-12-31 Filed 2019-02-08
10-Q 2018-09-30 Filed 2018-10-30
10-Q 2018-06-30 Filed 2018-07-26
10-Q 2018-03-31 Filed 2018-05-02
10-K 2017-12-31 Filed 2018-02-09
10-Q 2017-09-30 Filed 2017-10-31
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10-Q 2017-03-31 Filed 2017-05-03
10-K 2016-12-31 Filed 2017-02-24
10-Q 2016-09-30 Filed 2016-10-26
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10-Q 2016-03-31 Filed 2016-04-28
10-K 2015-12-31 Filed 2016-02-19
10-Q 2015-09-30 Filed 2015-10-29
10-Q 2015-06-30 Filed 2015-07-31
10-Q 2015-03-31 Filed 2015-04-30
10-K 2014-12-31 Filed 2015-02-20
10-Q 2014-09-30 Filed 2014-11-06
10-Q 2014-06-30 Filed 2014-08-08
10-Q 2014-03-31 Filed 2014-05-08
10-K 2013-12-31 Filed 2014-03-03
10-Q 2013-09-30 Filed 2013-11-07
10-Q 2013-06-30 Filed 2013-08-08
10-Q 2013-03-31 Filed 2013-05-08
10-K 2012-12-31 Filed 2013-02-25
10-Q 2012-09-30 Filed 2012-11-08
10-Q 2012-06-30 Filed 2012-08-03
10-Q 2012-03-31 Filed 2012-05-04
10-K 2011-12-31 Filed 2012-02-27
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10-K 2010-12-31 Filed 2011-02-28
10-Q 2010-06-30 Filed 2010-08-06
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10-K 2009-12-31 Filed 2010-02-25
8-K 2020-11-02 Earnings, Exhibits
8-K 2020-10-15 Other Events, Exhibits
8-K 2020-10-08 Regulation FD, Exhibits
8-K 2020-09-30 Other Events, Exhibits
8-K 2020-09-22 Leave Agreement, Off-BS Arrangement, Exhibits
8-K 2020-09-02 Other Events, Exhibits
8-K 2020-07-28 Earnings, Exhibits
8-K 2020-07-09 Regulation FD, Exhibits
8-K 2020-06-30 Other Events, Exhibits
8-K 2020-05-29
8-K 2020-05-13
8-K 2020-05-06
8-K 2020-04-30
8-K 2020-04-28
8-K 2020-04-07
8-K 2020-04-07
8-K 2020-03-24
8-K 2020-03-17
8-K 2020-03-06
8-K 2020-02-26
8-K 2020-02-18
8-K 2020-01-29
8-K 2019-10-29
8-K 2019-10-02
8-K 2019-09-19
8-K 2019-09-13
8-K 2019-08-26
8-K 2019-07-30
8-K 2019-07-16
8-K 2019-07-11
8-K 2019-05-15
8-K 2019-04-30
8-K 2019-02-27
8-K 2019-02-19
8-K 2019-02-11
8-K 2019-01-30
8-K 2018-10-23
8-K 2018-10-16
8-K 2018-09-06
8-K 2018-08-13
8-K 2018-08-01
8-K 2018-07-25
8-K 2018-07-09
8-K 2018-06-14
8-K 2018-05-16
8-K 2018-05-07
8-K 2018-05-03
8-K 2018-05-01
8-K 2018-04-30
8-K 2018-04-30
8-K 2018-04-16
8-K 2018-04-13
8-K 2018-04-02
8-K 2018-03-07
8-K 2018-03-05
8-K 2018-03-01
8-K 2018-02-28
8-K 2018-02-20
8-K 2018-02-08
8-K 2018-01-31
8-K 2018-01-29

MDLZ 10Q Quarterly Report

Part I - Financial Information
Item 1. Financial Statements
Note 1. Basis of Presentation
Note 2. Acquisitions and Divestitures
Note 3. Inventories
Note 4. Property, Plant and Equipment
Note 5. Goodwill and Intangible Assets
Note 6. Equity Method Investments
Note 7. Restructuring Program
Note 8. Debt and Borrowing Arrangements
Note 9. Financial Instruments
Note 10. Benefit Plans
Note 11. Stock Plans
Note 12. Commitments and Contingencies
Note 13. Reclassifications From Accumulated Other Comprehensive Income
Note 14. Income Taxes
Note 15. Earnings per Share
Note 16. Segment Reporting
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations.
Item 3. Quantitative and Qualitative Disclosures About Market Risk.
Item 4. Controls and Procedures.
Part II - Other Information
Item 1. Legal Proceedings.
Item 1A. Risk Factors.
Item 2. Unregistered Sales of Equity and Use of Proceeds.
Item 6. Exhibits.
EX-10.1 a63020ex101amendtoca41.htm
EX-18.1 a63020ex181pwcpreletter.htm
EX-31.1 a63020ex311.htm
EX-31.2 a63020ex312.htm
EX-32.1 a63020ex321.htm

Mondelez Earnings 2020-06-30

Balance SheetIncome StatementCash Flow
806448321602012201420172020
Assets, Equity
10.07.85.73.51.4-0.82012201420172020
Rev, G Profit, Net Income
10.06.02.0-2.0-6.0-10.02012201420172020
Ops, Inv, Fin

Document
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q
(Mark One)
 
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended June 30, 2020
OR
 
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from                to                
Commission file number 1-16483
mdlzlogoa07.jpg
Mondelēz International, Inc.
(Exact name of registrant as specified in its charter)

Virginia
52-2284372
(State or other jurisdiction of
incorporation or organization)
(I.R.S. Employer
Identification No.)
 
 
 
905 West Fulton Market, Suite 200
 
Chicago,
Illinois
60607
(Address of principal executive offices)
(Zip Code)
(Registrant’s telephone number, including area code) (847) 943-4000

Not Applicable
(Former name, former address and former fiscal year, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:
Tile of each class
 
Trading
Symbol(s)
 
Name of each exchange on which registered
Class A Common Stock, no par value
 
MDLZ
 
The Nasdaq Global Select Market
2.375% Notes due 2021
 
MDLZ21
 
The Nasdaq Stock Market LLC
1.000% Notes due 2022
 
MDLZ22
 
The Nasdaq Stock Market LLC
1.625% Notes due 2023
 
MDLZ23
 
The Nasdaq Stock Market LLC
1.625% Notes due 2027
 
MDLZ27
 
The Nasdaq Stock Market LLC
2.375% Notes due 2035
 
MDLZ35
 
The Nasdaq Stock Market LLC
4.500% Notes due 2035
 
MDLZ35A
 
The Nasdaq Stock Market LLC
3.875% Notes due 2045
 
MDLZ45
 
The Nasdaq Stock Market LLC
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes  x    No  ¨
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    Yes  x    No  ¨




Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer
x
 
 
Accelerated filer  
Non-accelerated filer
 
 
Smaller reporting company 
 
 
Emerging growth company 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes     No  x

At July 24, 2020, there were 1,428,338,344 shares of the registrant’s Class A Common Stock outstanding.
 




Mondelēz International, Inc.
Table of Contents
 
 
 
Page No.
PART I - 
FINANCIAL INFORMATION
 
 
 
 
Item 1.
Financial Statements (Unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Item 2.
 
 
 
Item 3.
 
 
 
Item 4.
 
 
 
PART II -
OTHER INFORMATION
 
 
 
 
Item 1.
 
 
 
Item 1A.
 
 
 
Item 2.
 
 
 
Item 6.
 
 
 

In this report, for all periods presented, “we,” “us,” “our,” “the Company” and “Mondelēz International” refer to Mondelēz International, Inc. and subsidiaries. References to “Common Stock” refer to our Class A Common Stock.





PART I – FINANCIAL INFORMATION

Item 1. Financial Statements
Mondelēz International, Inc. and Subsidiaries
Condensed Consolidated Statements of Earnings
(in millions of U.S. dollars, except per share data)
(Unaudited)
 
For the Three Months Ended
June 30,
 
For the Six Months Ended
June 30,
 
2020
 
2019
 
2020
 
2019
Net revenues
$
5,911

 
$
6,062

 
$
12,618

 
$
12,600

Cost of sales
3,580

 
3,593

 
7,836

 
7,538

Gross profit
2,331

 
2,469

 
4,782

 
5,062

Selling, general and administrative expenses
1,453

 
1,427

 
2,990

 
2,920

Asset impairment and exit costs
115

 
15

 
130

 
35

Net gain on divestiture

 
(41
)
 

 
(41
)
Amortization of intangibles
50

 
43

 
93

 
87

Operating income
713

 
1,025

 
1,569

 
2,061

Benefit plan non-service income
(31
)
 
(12
)
 
(64
)
 
(29
)
Interest and other expense, net
85

 
101

 
275

 
181

Earnings before income taxes
659

 
936

 
1,358

 
1,909

Provision for income taxes
(341
)
 
(216
)
 
(489
)
 
(405
)
Gain/(loss) on equity method investment
   transactions
121

 
(25
)
 
192

 
(2
)
Equity method investment net earnings
106

 
109

 
227

 
275

Net earnings
545

 
804

 
1,288

 
1,777

Noncontrolling interest earnings
(1
)
 
(1
)
 
(8
)
 
(7
)
Net earnings attributable to
   Mondelēz International
$
544

 
$
803

 
$
1,280

 
$
1,770

Per share data:
 
 
 
 
 
 
 
Basic earnings per share attributable to
   Mondelēz International
$
0.38

 
$
0.56

 
$
0.89

 
$
1.22

Diluted earnings per share attributable to
   Mondelēz International
$
0.38

 
$
0.55

 
$
0.89

 
$
1.21


See accompanying notes to the condensed consolidated financial statements.

1




Mondelēz International, Inc. and Subsidiaries
Condensed Consolidated Statements of Comprehensive Earnings
(in millions of U.S. dollars)
(Unaudited)
 
For the Three Months Ended
June 30,
 
For the Six Months Ended
June 30,
 
2020
 
2019
 
2020
 
2019
Net earnings
$
545

 
$
804

 
$
1,288

 
$
1,777

Other comprehensive earnings/(losses), net of tax:
 
 
 
 
 
 
 
Currency translation adjustment
81

 
30

 
(1,290
)
 
193

Pension and other benefit plans
5

 
38

 
65

 
55

Derivative cash flow hedges
1

 
(62
)
 
59

 
(127
)
Total other comprehensive earnings/(losses)
87

 
6

 
(1,166
)
 
121

Comprehensive earnings/(losses)
632

 
810

 
122

 
1,898

less: Comprehensive earnings/(losses) attributable to
   noncontrolling interests
5

 
3

 
7

 
8

Comprehensive earnings/(losses) attributable to Mondelēz International
$
627

 
$
807

 
$
115

 
$
1,890


See accompanying notes to the condensed consolidated financial statements.

2




Mondelēz International, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(in millions of U.S. dollars, except share data)
(Unaudited)
 
June 30,
2020
 
December 31,
2019
ASSETS
 
 
 
Cash and cash equivalents
$
1,602

 
$
1,291

Trade receivables (net of allowances of $40 at June 30, 2020
   and $35 at December 31, 2019)
1,979

 
2,212

Other receivables (net of allowances of $40 at June 30, 2020
   and $44 at December 31, 2019)
631

 
715

Inventories, net
2,710

 
2,546

Other current assets
1,073

 
866

Total current assets
7,995

 
7,630

Property, plant and equipment, net
8,365

 
8,733

Operating lease right of use assets
645

 
568

Goodwill
20,997

 
20,848

Intangible assets, net
17,877

 
17,957

Prepaid pension assets
586

 
516

Deferred income taxes
785

 
726

Equity method investments
6,659

 
7,178

Other assets
285

 
359

TOTAL ASSETS
$
64,194

 
$
64,515

LIABILITIES
 
 
 
Short-term borrowings
$
2,755

 
$
2,638

Current portion of long-term debt
945

 
1,581

Accounts payable
5,466

 
5,853

Accrued marketing
1,804

 
1,836

Accrued employment costs
639

 
769

Other current liabilities
2,930

 
2,645

Total current liabilities
14,539

 
15,322

Long-term debt
16,004

 
14,207

Long-term operating lease liabilities
479

 
403

Deferred income taxes
3,383

 
3,338

Accrued pension costs
1,108

 
1,190

Accrued postretirement health care costs
371

 
387

Other liabilities
2,213

 
2,351

TOTAL LIABILITIES
38,097

 
37,198

Commitments and Contingencies (Note 12)

 

EQUITY
 
 
 
Common Stock, no par value (5,000,000,000 shares authorized and
   1,996,537,778 shares issued at June 30, 2020 and December 31, 2019)

 

Additional paid-in capital
32,022

 
32,019

Retained earnings
27,040

 
26,615

Accumulated other comprehensive losses
(11,419
)
 
(10,254
)
Treasury stock, at cost (568,483,191 shares at June 30, 2020 and
   561,531,524 shares at December 31, 2019)
(21,625
)
 
(21,139
)
Total Mondelēz International Shareholders’ Equity
26,018

 
27,241

Noncontrolling interest
79

 
76

TOTAL EQUITY
26,097

 
27,317

TOTAL LIABILITIES AND EQUITY
$
64,194

 
$
64,515

See accompanying notes to the condensed consolidated financial statements.

3




Mondelēz International, Inc. and Subsidiaries
Condensed Consolidated Statements of Equity
(in millions of U.S. dollars, except per share data)
(Unaudited)
 
Mondelēz International Shareholders’ Equity
 
 
 
 
 
Common
Stock
 
Additional
Paid-in
Capital
 
Retained
Earnings
 
Accumulated
Other
Comprehensive
Earnings/
(Losses)
 
Treasury
Stock
 
Non-controlling
Interest
 
Total
Equity
Three Months Ended June 30, 2020
 
 
 
 
 
 
 
 
 
 
 
 
 
Balances at April 1, 2020
$

 
$
31,990

 
$
26,906

 
$
(11,502
)
 
$
(21,652
)
 
$
78

 
$
25,820

Comprehensive earnings/(losses):
 
 
 
 
 
 
 
 
 
 
 
 
 
Net earnings

 

 
544

 

 

 
1

 
545

Other comprehensive earnings/(losses),
   net of income taxes

 

 

 
83

 

 
4

 
87

Exercise of stock options and issuance of
   other stock awards

 
32

 
(3
)
 

 
27

 

 
56

Cash dividends declared ($0.285 per share)

 

 
(409
)
 

 

 

 
(409
)
Dividends paid on noncontrolling interest
   and other activities

 

 
2

 

 

 
(4
)
 
(2
)
Balances at June 30, 2020
$

 
$
32,022

 
$
27,040

 
$
(11,419
)
 
$
(21,625
)
 
$
79

 
$
26,097

Six Months Ended June 30, 2020
 
 
 
 
 
 
 
 
 
 
 
 
 
Balances at January 1, 2020
$

 
$
32,019

 
$
26,615

 
$
(10,254
)
 
$
(21,139
)
 
$
76

 
$
27,317

Comprehensive earnings/(losses):
 
 
 
 
 
 
 
 
 
 
 
 
 
Net earnings

 

 
1,280

 

 

 
8

 
1,288

Other comprehensive earnings/(losses),
   net of income taxes

 

 

 
(1,165
)
 

 
(1
)
 
(1,166
)
Exercise of stock options and issuance of
   other stock awards

 
3

 
(41
)
 

 
215

 

 
177

Common Stock repurchased

 

 

 

 
(701
)
 

 
(701
)
Cash dividends declared ($0.57 per share)

 

 
(817
)
 

 

 

 
(817
)
Dividends paid on noncontrolling interest
   and other activities

 

 
3

 

 

 
(4
)
 
(1
)
Balances at June 30, 2020
$

 
$
32,022

 
$
27,040

 
$
(11,419
)
 
$
(21,625
)
 
$
79

 
$
26,097

Three Months Ended June 30, 2019
 
 
 
 
 
 
 
 
 
 
 
 
 
Balances at April 1, 2019
$

 
$
31,933

 
$
24,910

 
$
(10,528
)
 
$
(20,561
)
 
$
81

 
$
25,835

Comprehensive earnings/(losses):
 
 
 
 
 
 
 
 
 
 
 
 
 
Net earnings

 

 
803

 

 

 
1

 
804

Other comprehensive earnings/(losses),
   net of income taxes

 

 

 
4

 

 
2