falsedesktopMDLZ2020-12-31000110398221000004{"tbl_sim": "https://q10k.com/tbl-sim", "search": "https://q10k.com/search"}{"q10k_tbl_0": "Virginia\t\t52-2284372\n(State or other jurisdiction of incorporation or organization)\t\t(I.R.S. Employer Identification No.)\n905 West Fulton Market Suite 200\t\t\nChicago\tIllinois\t60607\n(Address of principal executive offices)\t\t(Zip Code)\n", "q10k_tbl_1": "Title of each class\tTrading Symbol(s)\tName of each exchange on which registered\nClass A Common Stock no par value\tMDLZ\tThe Nasdaq Global Select Market\n1.000% Notes due 2022\tMDLZ22\tThe Nasdaq Stock Market LLC\n1.625% Notes due 2023\tMDLZ23\tThe Nasdaq Stock Market LLC\n1.625% Notes due 2027\tMDLZ27\tThe Nasdaq Stock Market LLC\n2.375% Notes due 2035\tMDLZ35\tThe Nasdaq Stock Market LLC\n4.500% Notes due 2035\tMDLZ35A\tThe Nasdaq Stock Market LLC\n3.875% Notes due 2045\tMDLZ45\tThe Nasdaq Stock Market LLC\n", "q10k_tbl_2": "\t\tPage No.\nPart I -\t\t\nItem 1.\tBusiness\t3\nItem 1A.\tRisk Factors\t13\nItem 1B.\tUnresolved Staff Comments\t25\nItem 2.\tProperties\t26\nItem 3.\tLegal Proceedings\t26\nItem 4.\tMine Safety Disclosures\t26\nPart II -\t\t\nItem 5.\tMarket for Registrant's Common Equity Related Stockholder Matters and Issuer Purchases of Equity Securities\t27\nItem 6.\tSelected Financial Data\t29\nItem 7.\tManagement's Discussion and Analysis of Financial Condition and Results of Operations:\t31\n\tSummary of Results\t35\n\tFinancial Outlook\t36\n\tDiscussion and Analysis of Historical Results\t39\n\tCritical Accounting Estimates\t56\n\tLiquidity and Capital Resources\t59\n\tCommodity Trends\t60\n\tOff-Balance Sheet Arrangements and Aggregate Contractual Obligations\t60\n\tEquity and Dividends\t62\n\tNon-GAAP Financial Measures\t63\nItem 7A.\tQuantitative and Qualitative Disclosures about Market Risk\t70\nItem 8.\tFinancial Statements and Supplementary Data:\t72\n\tReport of Independent Registered Public Accounting Firm\t72\n\tConsolidated Statements of Earnings for the Years Ended December 31 2020 2019 and 2018\t75\n\tConsolidated Statements of Comprehensive Earnings for the Years Ended December 31 2020 2019 and 2018\t76\n\tConsolidated Balance Sheets as of December 31 2020 and 2019\t77\n\tConsolidated Statements of Equity for the Years Ended December 31 2020 2019 and 2018\t78\n\tConsolidated Statements of Cash Flows for the Years Ended December 31 2020 2019 and 2018\t79\n\tNotes to Consolidated Financial Statements\t80\nItem 9.\tChanges in and Disagreements with Accountants on Accounting and Financial Disclosure\t131\nItem 9A.\tControls and Procedures\t131\nItem 9B.\tOther Information\t132\nPart III -\t\t\nItem 10.\tDirectors Executive Officers and Corporate Governance\t133\nItem 11.\tExecutive Compensation\t133\nItem 12.\tSecurity Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters\t133\nItem 13.\tCertain Relationships and Related Transactions and Director Independence\t133\nItem 14.\tPrincipal Accountant Fees and Services\t133\nPart IV -\t\t\nItem 15.\tExhibits and Financial Statement Schedules\t134\nItem 16.\tForm 10-K Summary\t138\n\tSignatures\t139\n\tValuation and Qualifying Accounts\tS-1\n", "q10k_tbl_3": "\tFor the Years Ended December 31\t\t\n\t2020\t2019\t2018\n\t(in millions)\t\t\nNet revenues:\t\t\t\nLatin America\t2477\t3018\t3202\nAMEA\t5740\t5770\t5729\nEurope\t10207\t9972\t10122\nNorth America\t8157\t7108\t6885\n\t26581\t25868\t25938\n", "q10k_tbl_4": "\tFor the Years Ended December 31\t\t\t\t\t\n\t2020\t\t2019\t\t2018\t\n\t(in millions except percentages)\t\t\t\t\t\nSegment operating income:\t\t\t\t\t\t\nLatin America\t189\t4.3%\t341\t8.1%\t410\t11.1%\nAMEA\t821\t18.8%\t691\t16.4%\t702\t19.0%\nEurope\t1775\t40.6%\t1732\t41.1%\t1734\t46.9%\nNorth America\t1587\t36.3%\t1451\t34.4%\t849\t23.0%\n\t4372\t100.0%\t4215\t100.0%\t3695\t100.0%\n", "q10k_tbl_5": "\tPercentage of 2020 Net Revenues by Product Category\t\t\t\t\t\nSegment\tBiscuits\tChocolate\tGum & Candy\tBeverages\tCheese & Grocery\tTotal\nLatin America\t2.5%\t2.3%\t1.8%\t1.5%\t1.2%\t9.3%\nAMEA\t7.7%\t7.6%\t2.6%\t2.0%\t1.7%\t21.6%\nEurope\t11.4%\t19.9%\t2.3%\t0.4%\t4.4%\t38.4%\nNorth America\t26.4%\t1.0%\t3.3%\t-%\t-%\t30.7%\n\t48.0%\t30.8%\t10.0%\t3.9%\t7.3%\t100.0%\n", "q10k_tbl_6": "\tFor the Years Ended December 31\t\t\n\t2020\t2019\t2018\nBiscuits - Cookies and crackers\t39%\t37%\t36%\nChocolate - Tablets bars and other\t31%\t32%\t32%\n", "q10k_tbl_7": "Name\tAge\tTitle\nDirk Van de Put\t60\tChief Executive Officer\nLuca Zaramella\t51\tExecutive Vice President and Chief Financial Officer\nPaulette Alviti\t50\tExecutive Vice President and Chief People Officer\nMaurizio Brusadelli\t52\tExecutive Vice President and President Asia Pacific Middle East and Africa\nVinzenz P. Gruber\t55\tExecutive Vice President and President Europe\nRobin S. Hargrove\t55\tExecutive Vice President Research Development and Quality\nSandra MacQuillan\t54\tExecutive Vice President and Chief Supply Chain Officer\nGerhard W. Pleuhs\t64\tExecutive Vice President Corporate & Legal Affairs and General Counsel (retiring April 2021)\nLaura Stein\t59\tExecutive Vice President General Counsel Corporate & Legal Affairs\nGustavo C. Valle\t56\tExecutive Vice President and President Latin America\nHenry Glendon (Glen) Walter IV\t52\tExecutive Vice President and President North America\n", "q10k_tbl_8": "\tAs of December 31 2020\t\n\tNumber of Manufacturing Facilities\tNumber of Distribution Facilities\nLatin America (1)\t12\t12\nAMEA\t43\t31\nEurope\t55\t8\nNorth America\t23\t60\nTotal\t133\t111\nOwned\t116\t14\nLeased\t17\t97\nTotal\t133\t111\n", "q10k_tbl_9": "As of December 31\tMondel'z International\tS&P 500\tPerformance Peer Group\n2015\t100.00\t100.00\t100.00\n2016\t100.57\t111.96\t104.70\n2017\t98.98\t136.40\t121.55\n2018\t94.75\t130.42\t114.36\n2019\t133.06\t171.49\t145.00\n2020\t144.48\t203.04\t158.62\n", "q10k_tbl_10": "Period\tTotal Number of Shares Purchased (1)\tAverage Price Paid per Share (1)\tTotal Number of Shares Purchased as Part of Publicly Announced Plans or Programs (2)\tApproximate Dollar Value of Shares That May Yet Be Purchased Under the Plans or Programs (2)\nOctober 1-31 2020\t60320\t57.57\t0\t2450\nNovember 1-30 2020\t5488346\t57.92\t5454165\t2138\nDecember 1-31 2020\t6704171\t57.90\t6699294\t5750\nFor the Quarter Ended December 31 2020\t12252837\t57.71\t12153459\t\n", "q10k_tbl_11": "\t2020\t2019\t2018\t2017\t2016\n\t(in millions except per share and employee data)\t\t\t\t\nContinuing Operations (2)\t\t\t\t\t\nNet revenues\t26581\t25868\t25938\t25896\t25923\nEarnings from continuing operations net of taxes\t3569\t3944\t3331\t2813\t1683\nNet earnings attributable to Mondel'z International\t3555\t3929\t3317\t2799\t1673\nPer share basic\t2.48\t2.72\t2.25\t1.85\t1.08\nPer share diluted\t2.47\t2.69\t2.23\t1.83\t1.06\nCash Flow and Financial Position (3)\t\t\t\t\t\nNet cash provided by operating activities\t3964\t3965\t3948\t2593\t2838\nCapital expenditures\t863\t925\t1095\t1014\t1224\nProperty plant and equipment net\t9026\t8733\t8482\t8677\t8229\nTotal assets\t67810\t64515\t62618\t62907\t61460\nLong-term debt\t17276\t14207\t12532\t12972\t13217\nTotal Mondel'z International shareholders' equity\t27578\t27241\t25526\t25945\t25096\nShares outstanding at year end (4)\t1419\t1435\t1451\t1488\t1528\nPer Share and Other Data\t\t\t\t\t\nBook value per shares outstanding\t19.43\t18.98\t17.59\t17.44\t16.42\nDividends declared per share (5)\t1.20\t1.09\t0.96\t0.82\t0.72\nCommon Stock closing price at year end\t58.47\t55.08\t40.03\t42.80\t44.33\nNumber of employees\t79000\t80000\t80000\t83000\t90000\n", "q10k_tbl_12": "\t\tFor the Years Ended December 31\t\t\n\tSee Note\t2020\t2019\t2018\n\t\t(in millions except percentages)\t\t\nSimplify to Grow Program\tNote 8\t\t\t\nRestructuring Charges\t\t(156)\t(176)\t(316)\nImplementation Charges\t\t(207)\t(272)\t(315)\nIntangible asset impairment charges\tNote 6\t(144)\t(57)\t(68)\nMark-to-market gains from derivatives (1)\tNote 10\t19\t90\t142\nAcquisition and divestiture-related costs\tNote 2\t\t\t\nAcquisition integration costs\t\t(4)\t0\t(3)\nAcquisition-related costs\t\t(15)\t(3)\t(13)\nDivestiture-related costs\t\t(4)\t(6)\t1\nNet gain on divestiture\t\t0\t44\t0\nCosts associated with JDE Peet's transaction\tNote 7\t(48)\t0\t0\nRemeasurement of net monetary position\t\t(9)\t4\t(11)\nImpact from pension participation changes (1)\tNote 11\t(11)\t29\t(429)\nImpact from resolution of tax matters (1)\tNote 14\t48\t(85)\t11\nCEO transition remuneration (2)\t\t0\t(9)\t(22)\n(Loss)/gain related to interest rate swaps\tNote 9 & 10\t(103)\t(111)\t10\nLoss on debt extinguishment\tNote 9\t(185)\t0\t(140)\nSwiss tax reform net impacts\tNote 16\t0\t767\t0\nU.S. tax reform discrete net tax impacts\tNote 16\t0\t(5)\t(19)\nGain/(loss) on equity method investment transactions (3)\tNote 7\t989\t(2)\t778\nEquity method investee items (4)\t\t(92)\t(48)\t32\nEffective tax rate\tNote 16\t36.2%\t0.1%\t27.2%\n", "q10k_tbl_13": "\tFor the Years Ended December 31\t\t\t\n\t2020\t2019\t change\t% change\n\t(in millions except per share data)\t\t\t\nNet revenues\t26581\t25868\t713\t2.8%\nOperating income\t3853\t3843\t10\t0.3%\nEarnings from continuing operations\t3569\t3944\t(375)\t(9.5)%\nNet earnings attributable to Mondel'z International\t3555\t3929\t(374)\t(9.5)%\nDiluted earnings per share attributable to Mondel'z International\t2.47\t2.69\t(0.22)\t(8.2)%\n", "q10k_tbl_14": "\tOperating Income\tChange\n\t(in millions)\t\nOperating Income for the Year Ended December 31 2019\t3843\t\nSimplify to Grow Program (2)\t442\t\nIntangible asset impairment charges (3)\t57\t\nMark-to-market gains from derivatives (4)\t(91)\t\nAcquisition-related costs (5)\t3\t\nDivestiture-related costs (5)\t6\t\nOperating income from divestiture (5)\t(9)\t\nNet gain on divestiture (5)\t(44)\t\nRemeasurement of net monetary position (6)\t(4)\t\nImpact from pension participation changes (7)\t(35)\t\nImpact from resolution of tax matters (8)\t85\t\nCEO transition remuneration (1)\t9\t\nSwiss tax reform impact (9)\t2\t\nAdjusted Operating Income (1) for the Year Ended December 31 2019\t4264\t\nHigher net pricing\t495\t\nHigher input costs\t(394)\t\nFavorable volume/mix\t142\t\nHigher selling general and administrative expenses\t(77)\t\nVAT-related settlements\t11\t\nImpact from acquisitions (5)\t23\t\nOther\t(4)\t\nTotal change in Adjusted Operating Income (constant currency) (1)\t196\t4.6%\nUnfavorable currency translation\t(59)\t\nTotal change in Adjusted Operating Income (1)\t137\t3.2%\nAdjusted Operating Income (1) for the Year Ended December 31 2020\t4401\t\nSimplify to Grow Program (2)\t(360)\t\nIntangible asset impairment charges (3)\t(144)\t\nMark-to-market gains from derivatives (4)\t16\t\nAcquisition integration costs (5)\t(4)\t\nAcquisition-related costs (5)\t(15)\t\nDivestiture-related costs (5)\t(4)\t\nCosts associated with JDE Peet's transaction (10)\t(48)\t\nRemeasurement of net monetary position (6)\t(9)\t\nImpact from resolution of tax matters (8)\t20\t\nOperating Income for the Year Ended December 31 2020\t3853\t0.3%\n", "q10k_tbl_15": "\tDiluted EPS\nDiluted EPS Attributable to Mondel'z International for the Year Ended December 31 2019\t2.69\nSimplify to Grow Program (2)\t0.24\nIntangible asset impairment charges (2)\t0.03\nMark-to-market gains from derivatives (2)\t(0.05)\nNet earnings from divestitures (2) (3)\t(0.05)\nNet gain on divestiture (2)\t(0.03)\nImpact from pension participation changes (2)\t(0.02)\nImpact from resolution of tax matters (2)\t0.05\nCEO transition remuneration (2)\t0.01\nLoss related to interest rate swaps (4)\t0.08\nSwiss tax reform net impacts (5)\t(0.53)\nLoss on equity method investment transaction (6)\t0.01\nEquity method investee items (7)\t0.03\nAdjusted EPS (1) for the Year Ended December 31 2019\t2.46\nIncrease in operations\t0.08\nDecrease in equity method investment net earnings\t(0.01)\nVAT-related settlements\t0.01\nImpact from acquisitions (2)\t0.01\nChanges in benefit plan non-service income\t0.04\nChanges in shares outstanding (8)\t0.03\nAdjusted EPS (constant currency) (1) for the Year Ended December 31 2020\t2.62\nUnfavorable currency translation\t(0.03)\nAdjusted EPS (1) for the Year Ended December 31 2020\t2.59\nSimplify to Grow Program (2)\t(0.20)\nIntangible asset impairment charges (2)\t(0.08)\nMark-to-market gains from derivatives (2)\t0.01\nAcquisition-related costs (2)\t(0.01)\nNet earnings from divestitures (2) (3)\t0.02\nCosts associated with JDE Peet's transaction (2)\t(0.20)\nRemeasurement of net monetary position (2)\t(0.01)\nImpact from pension participation changes (2)\t(0.01)\nImpact from resolution of tax matters (2)\t0.02\nLoss related to interest rate swaps (4)\t(0.05)\nLoss on debt extinguishment (9)\t(0.10)\nGain on equity method investment transactions (6)\t0.55\nEquity method investee items (7)\t(0.06)\nDiluted EPS Attributable to Mondel'z International for the Year Ended December 31 2020\t2.47\n", "q10k_tbl_16": "\tFor the Years Ended December 31\t\t\t\n\t2019\t2018\t change\t% change\n\t(in millions except per share data)\t\t\t\nNet revenues\t25868\t25938\t(70)\t(0.3)%\nOperating income\t3843\t3312\t531\t16.0%\nEarnings from continuing operations\t3944\t3331\t613\t18.4%\nNet earnings attributable to Mondel'z International\t3929\t3317\t612\t18.5%\nDiluted earnings per share attributable to Mondel'z International\t2.69\t2.23\t0.46\t20.6%\n", "q10k_tbl_17": "\tOperating Income\tChange\n\t(in millions)\t\nOperating Income for the Year Ended December 31 2018\t3312\t\nSimplify to Grow Program (2)\t626\t\nIntangible asset impairment charges (3)\t68\t\nMark-to-market gains from derivatives (4)\t(141)\t\nAcquisition integration costs (5)\t3\t\nAcquisition-related costs (6)\t13\t\nDivestiture-related costs (6)\t(1)\t\nOperating income from divestiture (6)\t(19)\t\nRemeasurement of net monetary position (7)\t11\t\nImpact from pension participation changes (8)\t423\t\nImpact from resolution of tax matters (9)\t(15)\t\nCEO transition remuneration (1)\t22\t\nAdjusted Operating Income (1) for the Year Ended December 31 2018\t4302\t\nHigher net pricing\t576\t\nHigher input costs\t(340)\t\nFavorable volume/mix\t140\t\nHigher selling general and administrative expenses\t(173)\t\nVAT-related settlement\t(32)\t\nImpact from acquisition (6)\t6\t\nOther\t12\t\nTotal change in Adjusted Operating Income (constant currency) (1)\t189\t4.4%\nUnfavorable currency translation\t(227)\t\nTotal change in Adjusted Operating Income (1)\t(38)\t(0.9)%\nAdjusted Operating Income (1) for the Year Ended December 31 2019\t4264\t\nSimplify to Grow Program (2)\t(442)\t\nIntangible asset impairment charges (3)\t(57)\t\nMark-to-market gains from derivatives (4)\t91\t\nAcquisition-related costs (6)\t(3)\t\nDivestiture-related costs (6)\t(6)\t\nOperating income from divestiture (6)\t9\t\nNet gain on divestiture (6)\t44\t\nRemeasurement of net monetary position (7)\t4\t\nImpact from pension participation changes (8)\t35\t\nImpact from resolution of tax matters (9)\t(85)\t\nCEO transition remuneration (1)\t(9)\t\nSwiss tax reform impact (10)\t(2)\t\nOperating Income for the Year Ended December 31 2019\t3843\t16.0%\n", "q10k_tbl_18": "\tDiluted EPS\nDiluted EPS Attributable to Mondel'z International for the Year Ended December 31 2018\t2.23\nSimplify to Grow Program (2)\t0.32\nIntangible asset impairment charges (2)\t0.03\nMark-to-market gains from derivatives (2)\t(0.09)\nAcquisition-related costs (2)\t0.01\nNet earnings from divestitures (2) (3)\t(0.04)\nRemeasurement of net monetary position (2)\t0.01\nImpact from pension participation changes (2)\t0.22\nImpact from resolution of tax matters (2)\t(0.01)\nCEO transition remuneration (2)\t0.01\nGain related to interest rate swaps (4)\t(0.01)\nLoss on debt extinguishment (5)\t0.07\nU.S. tax reform discrete net tax expense (6)\t0.01\nGain on equity method investment transaction (7)\t(0.39)\nEquity method investee items (8)\t(0.01)\nAdjusted EPS (1) for the Year Ended December 31 2018\t2.36\nIncrease in operations\t0.11\nIncrease in equity method investment net earnings\t0.08\nVAT-related settlements\t(0.01)\nChanges in interest and other expense net (9)\t0.02\nChanges in income taxes (10)\t0.01\nChanges in shares outstanding (11)\t0.05\nAdjusted EPS (constant currency) (1) for the Year Ended December 31 2019\t2.62\nUnfavorable currency translation\t(0.16)\nAdjusted EPS (1) for the Year Ended December 31 2019\t2.46\nSimplify to Grow Program (2)\t(0.24)\nIntangible asset impairment charges (2)\t(0.03)\nMark-to-market gains from derivatives (2)\t0.05\nNet earnings from divestitures (2) (3)\t0.05\nNet gain on divestiture (2)\t0.03\nImpact from pension participation changes (2)\t0.02\nImpact from resolution of tax matters (2)\t(0.05)\nCEO transition remuneration (2)\t(0.01)\nLoss related to interest rate swaps (4)\t(0.08)\nSwiss tax reform net impacts (6)\t0.53\nLoss on equity method investment transactions (7)\t(0.01)\nEquity method investee items (8)\t(0.03)\nDiluted EPS Attributable to Mondel'z International for the Year Ended December 31 2019\t2.69\n", "q10k_tbl_19": "\tFor the Years Ended December 31\t\t\n\t2020\t2019\t2018\n\t(in millions)\t\t\nNet revenues:\t\t\t\nLatin America\t2477\t3018\t3202\nAMEA\t5740\t5770\t5729\nEurope\t10207\t9972\t10122\nNorth America\t8157\t7108\t6885\nNet revenues\t26581\t25868\t25938\n", "q10k_tbl_20": "\tFor the Years Ended December 31\t\t\n\t2020\t2019\t2018\n\t(in millions)\t\t\nEarnings before income taxes:\t\t\t\nOperating income:\t\t\t\nLatin America\t189\t341\t410\nAMEA\t821\t691\t702\nEurope\t1775\t1732\t1734\nNorth America\t1587\t1451\t849\nUnrealized gains/(losses) on hedging activities (mark-to-market impacts)\t16\t91\t141\nGeneral corporate expenses\t(326)\t(330)\t(335)\nAmortization of intangible assets\t(194)\t(174)\t(176)\nNet gain on divestiture\t0\t44\t0\nAcquisition-related costs\t(15)\t(3)\t(13)\nOperating income\t3853\t3843\t3312\nBenefit plan non-service income\t138\t60\t50\nInterest and other expense net\t(608)\t(456)\t(520)\nEarnings before income taxes\t3383\t3447\t2842\n", "q10k_tbl_21": "\tFor the Years Ended December 31\t\t\t\n\t2020\t2019\t change\t% change\n\t(in millions)\t\t\t\nNet revenues\t2477\t3018\t(541)\t(17.9)%\nSegment operating income\t189\t341\t(152)\t(44.6)%\n\tFor the Years Ended December 31\t\t\t\n\t2019\t2018\t change\t% change\n\t(in millions)\t\t\t\nNet revenues\t3018\t3202\t(184)\t(5.7)%\nSegment operating income\t341\t410\t(69)\t(16.8)%\n", "q10k_tbl_22": "\tFor the Years Ended December 31\t\t\t\n\t2020\t2019\t change\t% change\n\t(in millions)\t\t\t\nNet revenues\t5740\t5770\t(30)\t(0.5)%\nSegment operating income\t821\t691\t130\t18.8%\n\tFor the Years Ended December 31\t\t\t\n\t2019\t2018\t change\t% change\n\t(in millions)\t\t\t\nNet revenues\t5770\t5729\t41\t0.7%\nSegment operating income\t691\t702\t(11)\t(1.6)%\n", "q10k_tbl_23": "\tFor the Years Ended December 31\t\t\t\n\t2020\t2019\t change\t% change\n\t(in millions)\t\t\t\nNet revenues\t10207\t9972\t235\t2.4%\nSegment operating income\t1775\t1732\t43\t2.5%\n\tFor the Years Ended December 31\t\t\t\n\t2019\t2018\t change\t% change\n\t(in millions)\t\t\t\nNet revenues\t9972\t10122\t(150)\t(1.5)%\nSegment operating income\t1732\t1734\t(2)\t(0.1)%\n", "q10k_tbl_24": "\tFor the Years Ended December 31\t\t\t\n\t2020\t2019\t change\t% change\n\t(in millions)\t\t\t\nNet revenues\t8157\t7108\t1049\t14.8%\nSegment operating income\t1587\t1451\t136\t9.4%\n\tFor the Years Ended December 31\t\t\t\n\t2019\t2018\t change\t% change\n\t(in millions)\t\t\t\nNet revenues\t7108\t6885\t223\t3.2%\nSegment operating income\t1451\t849\t602\t70.9%\n", "q10k_tbl_25": "\tAs of December 31 2020\t\t\t\t\n\tU.S. Plans\t\t\tNon-U.S. Plans\t\nFifty-Basis-Point\t\t\tFifty-Basis-Point\t\n\tIncrease\tDecrease\t\tIncrease\tDecrease\n\t(in millions)\t\t\t\t\nEffect of change in discount rate on pension costs\t(2)\t2\t\t(35)\t68\nEffect of change in expected rate of return on plan assets on pension costs\t(8)\t8\t\t(54)\t54\nEffect of change in discount rate on postretirement health care costs\t(3)\t3\t\t0\t0\n", "q10k_tbl_26": "\tPayments Due\t\t\t\t\n\tTotal\t2021\t2022-23\t2024-25\t2026 and Thereafter\n\t(in millions)\t\t\t\t\nDebt (1)\t19855\t2669\t4434\t3081\t9671\nInterest expense (2)\t4194\t427\t705\t556\t2506\nFinance leases (3)\t276\t81\t122\t51\t22\nOperating leases\t757\t203\t262\t123\t169\nPurchase obligations: (4)\t\t\t\t\t\nInventory and production costs\t6612\t3750\t2314\t473\t75\nOther\t1188\t853\t248\t87\t0\n\t32882\t7983\t8085\t4371\t12443\nU.S. tax reform transition liability (5)\t936\t95\t247\t497\t97\nMultiemployer pension plan withdrawal liability (6)\t489\t26\t53\t53\t357\nOther long-term liabilities (7)\t208\t33\t33\t34\t108\nTotal\t34515\t8137\t8418\t4955\t13005\n", "q10k_tbl_27": "\tFor the Year Ended December 31 2020\t\t\tFor the Year Ended December 31 2019\t\t\n\tEmerging Markets\tDeveloped Markets\tTotal\tEmerging Markets\tDeveloped Markets\tTotal\n\t(in millions)\t\t\t(in millions)\t\t\nNet Revenue\t9097\t17484\t26581\t9675\t16193\t25868\nImpact of currency\t749\t(112)\t637\t0\t0\t0\nImpact of acquisitions\t0\t(445)\t(445)\t0\t0\t0\nImpact of divestitures\t0\t0\t0\t(55)\t0\t(55)\nOrganic Net Revenue\t9846\t16927\t26773\t9620\t16193\t25813\n\tFor the Year Ended December 31 2019\t\t\tFor the Year Ended December 31 2018\t\t\n\tEmerging Markets\tDeveloped Markets\tTotal\tEmerging Markets\tDeveloped Markets\tTotal\n\t(in millions)\t\t\t(in millions)\t\t\nNet Revenue\t9675\t16193\t25868\t9659\t16279\t25938\nImpact of currency\t651\t503\t1154\t0\t0\t0\nImpact of acquisitions\t0\t(88)\t(88)\t0\t0\t0\nImpact of divestitures\t(55)\t0\t(55)\t(126)\t0\t(126)\nOrganic Net Revenue\t10271\t16608\t26879\t9533\t16279\t25812\n", "q10k_tbl_28": "\tFor the Years Ended December 31\t\t\t\n\t2020\t2019\t Change\t% Change\n\t(in millions)\t\t\t\nOperating Income\t3853\t3843\t10\t0.3%\nSimplify to Grow Program (1)\t360\t442\t(82)\t\nIntangible asset impairment charges (2)\t144\t57\t87\t\nMark-to-market gains from derivatives (3)\t(16)\t(91)\t75\t\nAcquisition integration costs (4)\t4\t0\t4\t\nAcquisition-related costs (5)\t15\t3\t12\t\nDivestiture-related costs (5)\t4\t6\t(2)\t\nOperating income from divestiture (5)\t0\t(9)\t9\t\nNet gain on divestiture (5)\t0\t(44)\t44\t\nCosts associated with JDE Peet's transaction (6)\t48\t0\t48\t\nRemeasurement of net monetary position (7)\t9\t(4)\t13\t\nImpact from pension participation changes (8)\t0\t(35)\t35\t\nImpact from resolution of tax matters (9)\t(20)\t85\t(105)\t\nCEO transition remuneration (10)\t0\t9\t(9)\t\nSwiss tax reform impact (11)\t0\t2\t(2)\t\nAdjusted Operating Income\t4401\t4264\t137\t3.2%\nUnfavorable currency translation\t59\t0\t59\t\nAdjusted Operating Income (constant currency)\t4460\t4264\t196\t4.6%\n", "q10k_tbl_29": "\tFor the Years Ended December 31\t\t\t\n\t2019\t2018\t Change\t% Change\n\t(in millions)\t\t\t\nOperating Income\t3843\t3312\t531\t16.0%\nSimplify to Grow Program (1)\t442\t626\t(184)\t\nIntangible asset impairment charges (2)\t57\t68\t(11)\t\nMark-to-market gains from derivatives (3)\t(91)\t(141)\t50\t\nAcquisition integration costs (4)\t0\t3\t(3)\t\nAcquisition-related costs (5)\t3\t13\t(10)\t\nDivestiture-related costs (5)\t6\t(1)\t7\t\nOperating income from divestiture (5)\t(9)\t(19)\t10\t\nNet gain on divestiture (5)\t(44)\t0\t(44)\t\nRemeasurement of net monetary position (7)\t(4)\t11\t(15)\t\nImpact from pension participation changes (8)\t(35)\t423\t(458)\t\nImpact from resolution of tax matters (9)\t85\t(15)\t100\t\nCEO transition remuneration (10)\t9\t22\t(13)\t\nSwiss tax reform impact (11)\t2\t0\t2\t\nAdjusted Operating Income\t4264\t4302\t(38)\t(0.9)%\nUnfavorable currency translation\t227\t0\t227\t\nAdjusted Operating Income (constant currency)\t4491\t4302\t189\t4.4%\n", "q10k_tbl_30": "\tFor the Years Ended December 31\t\t\t\n\t2020\t2019\t Change\t% Change\nDiluted EPS attributable to Mondel'z International\t2.47\t2.69\t(0.22)\t(8.2)%\nSimplify to Grow Program (2)\t0.20\t0.24\t(0.04)\t\nIntangible asset impairment charges (2)\t0.08\t0.03\t0.05\t\nMark-to-market gains from derivatives (2)\t(0.01)\t(0.05)\t0.04\t\nAcquisition-related costs (2)\t0.01\t0\t0.01\t\nNet earnings from divestitures (2)\t(0.02)\t(0.05)\t0.03\t\nNet gain on divestiture (2)\t0\t(0.03)\t0.03\t\nCosts associated with JDE Peet's transaction (2)\t0.20\t0\t0.20\t\nRemeasurement of net monetary position (2)\t0.01\t0\t0.01\t\nImpact from pension participation changes (2)\t0.01\t(0.02)\t0.03\t\nImpact from resolution of tax matters (2)\t(0.02)\t0.05\t(0.07)\t\nCEO transition remuneration (2)\t0\t0.01\t(0.01)\t\nLoss related to interest rate swaps (3)\t0.05\t0.08\t(0.03)\t\nLoss on debt extinguishment (4)\t0.10\t0\t0.10\t\nSwiss tax reform net impacts (2)\t0\t(0.53)\t0.53\t\n(Gain)/loss on equity method investment transactions (6)\t(0.55)\t0.01\t(0.56)\t\nEquity method investee items (7)\t0.06\t0.03\t0.03\t\nAdjusted EPS\t2.59\t2.46\t0.13\t5.3%\nUnfavorable currency translation\t0.03\t0\t0.03\t\nAdjusted EPS (constant currency)\t2.62\t2.46\t0.16\t6.5%\n", "q10k_tbl_31": "\tFor the Years Ended December 31\t\t\t\n\t2019\t2018\t Change\t% Change\nDiluted EPS attributable to Mondel'z International\t2.69\t2.23\t0.46\t20.6%\nSimplify to Grow Program (2)\t0.24\t0.32\t(0.08)\t\nIntangible asset impairment charges (2)\t0.03\t0.03\t0\t\nMark-to-market gains from derivatives (2)\t(0.05)\t(0.09)\t0.04\t\nAcquisition-related costs (2)\t0\t0.01\t(0.01)\t\nNet earnings from divestitures (2)\t(0.05)\t(0.04)\t(0.01)\t\nNet gain on divestiture (2)\t(0.03)\t0\t(0.03)\t\nRemeasurement of net monetary position (2)\t0\t0.01\t(0.01)\t\nImpact from pension participation changes (2)\t(0.02)\t0.22\t(0.24)\t\nImpact from resolution of tax matters (2)\t0.05\t(0.01)\t0.06\t\nCEO transition remuneration (2)\t0.01\t0.01\t0\t\nNet loss/(gain) related to interest rate swaps (3)\t0.08\t(0.01)\t0.09\t\nLoss on debt extinguishment (4)\t0\t0.07\t(0.07)\t\nSwiss tax reform net impacts (2)\t(0.53)\t0\t(0.53)\t\nU.S. tax reform discrete net tax expense (5)\t0\t0.01\t(0.01)\t\nLoss/(gain) on equity method investment transactions (6)\t0.01\t(0.39)\t0.40\t\nEquity method investee items (7)\t0.03\t(0.01)\t0.04\t\nAdjusted EPS\t2.46\t2.36\t0.10\t4.2%\nUnfavorable currency translation\t0.16\t0\t0.16\t\nAdjusted EPS (constant currency)\t2.62\t2.36\t0.26\t11.0%\n", "q10k_tbl_32": "\tPre-Tax Earnings Impact\t\t\t\tFair Value Impact\t\t\t\n\tAt 12/31/20\tAverage\tHigh\tLow\tAt 12/31/20\tAverage\tHigh\tLow\n\t(in millions)\t\t\t\t\t\t\t\nInstruments sensitive to:\t\t\t\t\t\t\t\t\nInterest rates\t\t\t\t\t91\t142\t308\t76\nForeign currency rates\t16\t20\t31\t16\t\t\t\t\nCommodity prices\t6\t25\t42\t6\t\t\t\t\n\tPre-Tax Earnings Impact\t\t\t\tFair Value Impact\t\t\t\n\tAt 12/31/19\tAverage\tHigh\tLow\tAt 12/31/19\tAverage\tHigh\tLow\n\t(in millions)\t\t\t\t\t\t\t\nInstruments sensitive to:\t\t\t\t\t\t\t\t\nInterest rates\t\t\t\t\t86\t70\t97\t49\nForeign currency rates\t15\t19\t25\t15\t\t\t\t\nCommodity prices\t11\t13\t14\t11\t\t\t\t\n", "q10k_tbl_33": "\t2020\t2019\t2018\nNet revenues\t26581\t25868\t25938\nCost of sales\t16135\t15531\t15586\nGross profit\t10446\t10337\t10352\nSelling general and administrative expenses\t6098\t6136\t6475\nAsset impairment and exit costs\t301\t228\t389\nNet gain on divestiture\t0\t(44)\t0\nAmortization of intangible assets\t194\t174\t176\nOperating income\t3853\t3843\t3312\nBenefit plan non-service income\t(138)\t(60)\t(50)\nInterest and other expense net\t608\t456\t520\nEarnings before income taxes\t3383\t3447\t2842\nIncome tax provision\t(1224)\t(2)\t(773)\nGain/(loss) on equity method investment transactions\t989\t(2)\t778\nEquity method investment net earnings\t421\t501\t484\nNet earnings\t3569\t3944\t3331\nNoncontrolling interest earnings\t(14)\t(15)\t(14)\nNet earnings attributable to Mondel'z International\t3555\t3929\t3317\nPer share data:\t\t\t\nBasic earnings per share attributable to Mondel'z International\t2.48\t2.72\t2.25\nDiluted earnings per share attributable to Mondel'z International\t2.47\t2.69\t2.23\n", "q10k_tbl_34": "\t2020\t2019\t2018\nNet earnings\t3569\t3944\t3331\nOther comprehensive earnings/(losses) net of tax:\t\t\t\nCurrency translation adjustment\t(322)\t300\t(910)\nPension and other benefit plans\t(153)\t133\t331\nDerivative cash flow hedges\t52\t(45)\t(54)\nTotal other comprehensive earnings/(losses)\t(423)\t388\t(633)\nComprehensive earnings\t3146\t4332\t2698\nless: Comprehensive earnings/(losses) attributable to noncontrolling interests\t27\t13\t12\nComprehensive earnings attributable to Mondel'z International\t3119\t4319\t2686\n", "q10k_tbl_35": "\t2020\t2019\nASSETS\t\t\nCash and cash equivalents\t3619\t1291\nTrade receivables (net of allowances of $42 at December 31 2020 and $35 at December 31 2019)\t2297\t2212\nOther receivables (net of allowances of $42 at December 31 2020 and $44 at December 31 2019)\t657\t715\nInventories net\t2647\t2546\nOther current assets\t759\t866\nTotal current assets\t9979\t7630\nProperty plant and equipment net\t9026\t8733\nOperating lease right of use assets\t638\t568\nGoodwill\t21895\t20848\nIntangible assets net\t18482\t17957\nPrepaid pension assets\t672\t516\nDeferred income taxes\t790\t726\nEquity method investments\t6036\t7178\nOther assets\t292\t359\nTOTAL ASSETS\t67810\t64515\nLIABILITIES\t\t\nShort-term borrowings\t29\t2638\nCurrent portion of long-term debt\t2741\t1581\nAccounts payable\t6209\t5853\nAccrued marketing\t2130\t1836\nAccrued employment costs\t834\t769\nOther current liabilities\t3216\t2645\nTotal current liabilities\t15159\t15322\nLong-term debt\t17276\t14207\nLong-term operating lease liabilities\t470\t403\nDeferred income taxes\t3346\t3338\nAccrued pension costs\t1257\t1190\nAccrued postretirement health care costs\t346\t387\nOther liabilities\t2302\t2351\nTOTAL LIABILITIES\t40156\t37198\nCommitments and Contingencies (Note 14)\t\t\nEQUITY\t\t\nCommon Stock no par value (5000000000 shares authorized and 1996537778 shares issued at December 31 2020 and December 31 2019)\t0\t0\nAdditional paid-in capital\t32070\t32019\nRetained earnings\t28402\t26615\nAccumulated other comprehensive losses\t(10690)\t(10254)\nTreasury stock at cost (577363557 shares at December 31 2020 and 561531524 shares at December 31 2019)\t(22204)\t(21139)\nTotal Mondel'z International Shareholders' Equity\t27578\t27241\nNoncontrolling interest\t76\t76\nTOTAL EQUITY\t27654\t27317\nTOTAL LIABILITIES AND EQUITY\t67810\t64515\n", "q10k_tbl_36": "\tMondel'z International Shareholders' Equity\t\t\t\t\t\t\n\tCommon Stock\tAdditional Paid-in Capital\tRetained Earnings\tAccumulated Other Comprehensive Earnings/ (Losses)\tTreasury Stock\tNon-controlling Interest\tTotal Equity\nBalances at January 1 2018\t0\t31915\t22598\t(10013)\t(18555)\t80\t26025\nComprehensive earnings/(losses):\t\t\t\t\t\t\t\nNet earnings\t0\t0\t3317\t0\t0\t14\t3331\nOther comprehensive earnings/ (losses) net of income taxes\t0\t0\t0\t(631)\t0\t(2)\t(633)\nExercise of stock options and issuance of other stock awards\t0\t46\t(118)\t0\t364\t0\t292\nCommon Stock repurchased\t0\t0\t0\t0\t(1994)\t0\t(1994)\nCash dividends declared ($0.96 per share)\t0\t0\t(1409)\t0\t0\t0\t(1409)\nDividends paid on noncontrolling interest and other activities\t0\t0\t6\t0\t0\t(16)\t(10)\nBalances at December 31 2018\t0\t31961\t24394\t(10644)\t(20185)\t76\t25602\nComprehensive earnings/(losses):\t\t\t\t\t\t\t\nNet earnings\t0\t0\t3929\t0\t0\t15\t3944\nOther comprehensive earnings/ (losses) net of income taxes\t0\t0\t0\t390\t0\t(2)\t388\nExercise of stock options and issuance of other stock awards\t0\t58\t(132)\t0\t545\t0\t471\nCommon Stock repurchased\t0\t0\t0\t0\t(1499)\t0\t(1499)\nCash dividends declared ($1.09 per share)\t0\t0\t(1576)\t0\t0\t0\t(1576)\nDividends paid on noncontrolling interest and other activities\t0\t0\t0\t0\t0\t(13)\t(13)\nBalances at December 31 2019\t0\t32019\t26615\t(10254)\t(21139)\t76\t27317\nComprehensive earnings/(losses):\t\t\t\t\t\t\t\nNet earnings\t0\t0\t3555\t0\t0\t14\t3569\nOther comprehensive earnings/ (losses) net of income taxes\t0\t0\t0\t(436)\t0\t13\t(423)\nExercise of stock options and issuance of other stock awards\t0\t51\t(59)\t0\t336\t0\t328\nCommon Stock repurchased\t0\t0\t0\t0\t(1401)\t0\t(1401)\nCash dividends declared ($1.20 per share)\t0\t0\t(1718)\t0\t0\t0\t(1718)\nDividends paid on noncontrolling interest and other activities\t0\t0\t9\t0\t0\t(27)\t(18)\nBalances at December 31 2020\t0\t32070\t28402\t(10690)\t(22204)\t76\t27654\n", "q10k_tbl_37": "\t2020\t2019\t2018\nCASH PROVIDED BY/(USED IN) OPERATING ACTIVITIES\t\t\t\nNet earnings\t3569\t3944\t3331\nAdjustments to reconcile net earnings to operating cash flows:\t\t\t\nDepreciation and amortization\t1116\t1047\t811\nStock-based compensation expense\t126\t135\t128\nU.S. tax reform transition tax/(benefit)\t0\t5\t(38)\nDeferred income tax (benefit)/provision\t(70)\t(631)\t233\nAsset impairments and accelerated depreciation\t136\t109\t141\nLoss on early extinguishment of debt\t185\t0\t140\nNet gain on divestitures\t0\t(44)\t0\nNet loss/(gain) on equity method investment transactions\t(989)\t2\t(778)\nEquity method investment net earnings\t(421)\t(501)\t(484)\nDistributions from equity method investments\t246\t250\t180\nOther non-cash items net\t243\t97\t381\nChange in assets and liabilities net of acquisitions and divestitures:\t\t\t\nReceivables net\t59\t124\t257\nInventories net\t(24)\t31\t(204)\nAccounts payable\t436\t4\t236\nOther current assets\t(207)\t(77)\t(25)\nOther current liabilities\t(208)\t(362)\t(136)\nChange in pension and postretirement assets and liabilities net\t(233)\t(168)\t(225)\nNet cash provided by operating activities\t3964\t3965\t3948\nCASH PROVIDED BY/(USED IN) INVESTING ACTIVITIES\t\t\t\nCapital expenditures\t(863)\t(925)\t(1095)\nAcquisitions net of cash received\t(1136)\t(284)\t(528)\nProceeds from divestitures including equity method investments\t2489\t167\t1\nProceeds from sale of property plant and equipment and other\t10\t82\t398\nNet cash provided by/(used in) investing activities\t500\t(960)\t(1224)\nCASH PROVIDED BY/(USED IN) FINANCING ACTIVITIES\t\t\t\nIssuances of commercial paper maturities greater than 90 days\t677\t1306\t3981\nRepayments of commercial paper maturities greater than 90 days\t(1174)\t(2367)\t(2856)\nNet issuances/(repayments) of other short-term borrowings\t(2116)\t524\t(1413)\nLong-term debt proceeds\t7213\t3136\t2948\nLong-term debt repayments\t(3878)\t(2677)\t(1821)\nRepurchases of Common Stock\t(1390)\t(1480)\t(2020)\nDividends paid\t(1678)\t(1542)\t(1359)\nOther\t131\t313\t211\nNet cash used in financing activities\t(2215)\t(2787)\t(2329)\nEffect of exchange rate changes on cash cash equivalents and restricted cash\t73\t10\t(56)\nCash cash equivalents and restricted cash:\t\t\t\nIncrease/(decrease)\t2322\t228\t339\nBalance at beginning of period\t1328\t1100\t761\nBalance at end of period\t3650\t1328\t1100\nCash paid:\t\t\t\nInterest\t413\t486\t491\nIncome taxes\t1264\t981\t864\n", "q10k_tbl_38": "\tAllowance for Trade Receivables\tAllowance for Other Current Receivables\tAllowance for Long-Term Receivables\n\t(in millions)\t\t\nBalance at January 1 2020\t(35)\t(44)\t(14)\nCurrent period provision for expected credit losses\t(10)\t(1)\t(1)\nWrite-offs charged against the allowance\t2\t2\t0\nCurrency\t1\t1\t3\nBalance at December 31 2020\t(42)\t(42)\t(12)\n", "q10k_tbl_39": "\t(in millions)\nReceivables\t29\nInventory\t38\nOther current assets\t5\nProperty plant and equipment\t136\nOperating right of use assets\t61\nDefinite-life intangible assets\t511\nIndefinite-life intangible assets\t42\nGoodwill\t531\nAssets acquired\t1353\nCurrent liabilities\t41\nDeferred tax liabilities\t92\nLong-term operating lease liabilities\t56\nLong-term debt\t6\nLong-term other liabilities\t19\nTotal purchase price\t1139\nLess: cash received\t3\nNet Cash Paid\t1136\n", "q10k_tbl_40": "\tAs of December 31\t\n\t2020\t2019\n\t(in millions)\t\nRaw materials\t718\t707\nFinished product\t2059\t1953\n\t2777\t2660\nInventory reserves\t(130)\t(114)\nInventories net\t2647\t2546\n", "q10k_tbl_41": "\tAs of December 31\t\n\t2020\t2019\n\t(in millions)\t\nLand and land improvements\t422\t422\nBuildings and building improvements\t3252\t3140\nMachinery and equipment\t12053\t11295\nConstruction in progress\t628\t680\n\t16355\t15537\nAccumulated depreciation\t(7329)\t(6804)\nProperty plant and equipment net\t9026\t8733\n", "q10k_tbl_42": "\tFor the Years Ended December 31\t\t\n\t2020\t2019\t2018\n\t(in millions)\t\t\nLatin America\t(12)\t0\t25\nAMEA\t(7)\t(2)\t5\nEurope\t5\t46\t15\nNorth America\t1\t5\t13\nCorporate\t0\t1\t1\nTotal\t(13)\t50\t59\n", "q10k_tbl_43": "\tFor the Years Ended December 31\t\n\t2020\t2019\n\t(in millions)\t\nOperating lease cost\t236\t222\nFinance lease cost:\t\t\nAmortization of right-of-use assets\t60\t29\nInterest on lease liabilities\t7\t4\nShort-term lease cost\t26\t39\nVariable lease cost\t442\t474\nSublease income\t(7)\t(6)\nTotal lease cost\t764\t762\n", "q10k_tbl_44": "\tFor the Years Ended December 31\t\n\t2020\t2019\n\t(in millions)\t\nCash paid for amounts included in the measurement of lease liabilities:\t\t\nOperating cash flows from operating leases\t(236)\t(234)\nOperating cash flows from finance leases\t(7)\t(4)\nFinancing cash flows from finance leases\t(56)\t(27)\nRight-of-use assets obtained in exchange for lease obligations:\t\t\nOperating leases\t208\t95\nFinance leases\t180\t99\n", "q10k_tbl_45": "\tAs of December 31\t\n\t2020\t2019\n\t(in millions)\t\nOperating Leases:\t\t\nOperating lease right-of-use assets net of amortization\t638\t568\nOther current liabilities\t190\t178\nLong-term operating lease liabilities\t470\t403\nTotal operating lease liabilities\t660\t581\nFinance Leases:\t\t\nFinance leases net of amortization (within property plant & equipment)\t252\t122\nCurrent portion of long-term debt\t74\t32\nLong-term debt\t182\t91\nTotal finance lease liabilities\t256\t123\nWeighted Average Remaining Lease Term\t\t\nOperating leases\t6.3 years\t5.2 years\nFinance leases\t4.4 years\t4.6 years\nWeighted Average Discount Rate\t\t\nOperating leases\t3.2%\t3.5%\nFinance leases\t3.2%\t3.7%\n", "q10k_tbl_46": "\tAs of December 31 2020\t\n\tOperating Leases\tFinance Leases\n\t(in millions)\t\nYear Ending December 31:\t\t\n2021\t203\t81\n2022\t155\t71\n2023\t107\t51\n2024\t72\t33\n2025\t51\t18\nThereafter\t169\t22\nTotal future undiscounted lease payments\t757\t276\nLess imputed interest\t(97)\t(20)\nTotal reported lease liability\t660\t256\n", "q10k_tbl_47": "\tAs of December 31\t\n\t2020\t2019\n\t(in millions)\t\nLatin America\t706\t818\nAMEA\t3250\t3151\nEurope\t8038\t7523\nNorth America\t9901\t9356\nGoodwill\t21895\t20848\n", "q10k_tbl_48": "\tAs of December 31\t\n\t2020\t2019\n\t(in millions)\t\nIndefinite-life intangible assets\t17492\t17296\nDefinite-life intangible assets\t2907\t2374\n\t20399\t19670\nAccumulated amortization\t(1917)\t(1713)\nIntangible assets net\t18482\t17957\n", "q10k_tbl_49": "\t2020\t\t2019\t\n\tGoodwill\tIntangible Assets at cost\tGoodwill\tIntangible Assets at cost\n\t(in millions)\t\t\t\nBalance at January 1\t20848\t19670\t20725\t19529\nChanges due to:\t\t\t\t\nCurrency\t516\t320\t17\t60\nDivestitures\t0\t0\t(43)\t0\nAcquisitions\t531\t553\t149\t138\nAsset impairments\t0\t(144)\t0\t(57)\nBalance at December 31\t21895\t20399\t20848\t19670\n", "q10k_tbl_50": "\tFor the Years Ended\t\t\t\n\tDecember 31 2019\t\tDecember 31 2018\t\n\tAs Reported\tAs Recast\tAs Reported\tAs Recast\n\t(in millions except per share data)\t\t\t\nStatements of Earnings\t\t\t\t\nEquity method investment net earnings\t442\t501\t548\t484\nNet earnings\t3885\t3944\t3395\t3331\nNet earnings attributable to Mondel'z International\t3870\t3929\t3381\t3317\nEarnings per share attributable to Mondel'z International:\t\t\t\t\nBasic EPS\t2.68\t2.72\t2.30\t2.25\nDiluted EPS\t2.65\t2.69\t2.28\t2.23\nStatements of Other Comprehensive Earnings\t\t\t\t\nCurrency translation adjustment\t299\t300\t(865)\t(910)\nPension and other benefit plans\t116\t133\t284\t331\nDerivative cash flow hedges\t(45)\t(45)\t(54)\t(54)\nTotal other comprehensive earnings/(losses)\t370\t388\t(635)\t(633)\nComprehensive earnings/(losses) attributable to Mondel'z International\t4242\t4319\t2748\t2686\n", "q10k_tbl_51": "\tAs of December 31 2019\t\n\tAs Reported\tAs Recast\n\t(in millions)\t\nBalance Sheet\t\t\nEquity method investments\t7212\t7178\nTotal assets\t64549\t64515\nRetained earnings\t26653\t26615\nAccumulated other comprehensive losses\t(10258)\t(10254)\nTotal Mondel'z International shareholders' equity\t27275\t27241\nTotal equity\t27351\t27317\n", "q10k_tbl_52": "\tAs of December 31\t\n\t2020\t2019\n\t(in millions)\t\nCurrent assets\t5922\t5523\nNoncurrent assets\t72941\t69587\nTotal assets\t78863\t75110\nCurrent liabilities\t11784\t9823\nNoncurrent liabilities\t27752\t28193\nTotal liabilities\t39536\t38016\nEquity attributable to shareowners of investees\t39161\t37058\nEquity attributable to noncontrolling interests\t166\t36\nTotal net equity of investees\t39327\t37094\nMondel'z International ownership interests\t8-50%\t13-50%\nEquity method investments (1)\t6036\t7178\n", "q10k_tbl_53": "\tFor the Years Ended December 31\t\t\n\t2020\t2019\t2018\n\t(in millions)\t\t\nNet revenues\t20112\t19361\t14419\nGross profit\t9856\t9781\t5989\nIncome from continuing operations\t2078\t2216\t1753\nNet income\t2078\t2216\t1753\nNet income attributable to investees\t2070\t2206\t1742\nMondel'z International ownership interests\t8-50%\t13-50%\t13-50%\nMondel'z International share of investee net income\t421\t501\t472\nKeurig shareholder loan interest income\t0\t0\t12\nEquity method investment net earnings\t421\t501\t484\n", "q10k_tbl_54": "\tSeverance and related costs\tAsset Write-downs and Other (1)\tTotal\n\t(in millions)\t\t\nLiability Balance January 1 2019\t373\t0\t373\nCharges\t125\t51\t176\nCash spent\t(162)\t0\t(162)\nNon-cash settlements/adjustments\t(31)\t(51)\t(82)\nCurrency\t(4)\t0\t(4)\nLiability Balance December 31 2019\t301\t0\t301\nCharges\t168\t(12)\t156\nCash spent\t(169)\t0\t(169)\nNon-cash settlements/adjustments\t(6)\t12\t6\nCurrency\t10\t0\t10\nLiability Balance December 31 2020\t304\t0\t304\n", "q10k_tbl_55": "\tLatin America\tAMEA\tEurope\tNorth America\tCorporate\tTotal\n\t(in millions)\t\t\t\t\t\nFor the Year Ended December 31 2020\t\t\t\t\t\t\nRestructuring Costs\t30\t23\t67\t23\t13\t156\nImplementation Costs\t18\t23\t63\t72\t31\t207\nTotal\t48\t46\t130\t95\t44\t363\nFor the Year Ended December 31 2019\t\t\t\t\t\t\nRestructuring Costs\t24\t18\t105\t16\t13\t176\nImplementation Costs\t50\t38\t103\t52\t29\t272\nTotal\t74\t56\t208\t68\t42\t448\nFor the Year Ended December 31 2018\t\t\t\t\t\t\nRestructuring Costs\t63\t69\t132\t32\t20\t316\nImplementation Costs\t67\t39\t73\t79\t57\t315\nTotal\t130\t108\t205\t111\t77\t631\nTotal Project (Inception to Date)\t\t\t\t\t\t\nRestructuring Costs\t547\t558\t1143\t492\t142\t2882\nImplementation Costs\t287\t229\t511\t456\t338\t1821\nTotal\t834\t787\t1654\t948\t480\t4703\n", "q10k_tbl_56": "\tAs of December 31\t\t\t\n\t2020\t\t2019\t\n\tAmount Outstanding\tWeighted- Average Rate\tAmount Outstanding\tWeighted- Average Rate\n\t(in millions)\t\t(in millions)\t\nCommercial paper\t0\t-%\t2581\t2.0%\nBank loans\t29\t4.8%\t57\t5.2%\nTotal short-term borrowings\t29\t\t2638\t\n", "q10k_tbl_57": "\tAs of December 31\t\t\t\n\t2020\t\t2019\t\n\tFacility Amount\tBorrowed Amount\tFacility Amount\tBorrowed Amount\n\t(in millions)\t\t\t\nUncommitted credit facilities\t1487\t29\t1685\t57\nCredit facility expiry(1):\t\t\t\t\nFebruary 26 2020\t0\t0\t1500\t0\nFebruary 24 2021\t1500\t0\t0\t0\nFebruary 27 2024\t4500\t0\t4500\t0\n", "q10k_tbl_58": "\tAs of December 31\t\n\t2020\t2019\n\t(in millions)\t\nU.S. dollar notes 0.163% to 7.000% (weighted-average effective rate 2.564%) due through 2050\t11917\t9442\nEuro notes 0.000% to 2.375% (weighted-average effective rate 1.352%) due through 2035\t5842\t3968\nPound sterling notes 3.875% to 4.500% (weighted-average effective rate 4.151%) due through 2045\t357\t346\nSwiss franc notes 0.615% to 1.125% (weighted-average effective rate 0.840%) due through 2025\t1175\t1449\nCanadian dollar notes 3.250% (effective rate 3.377%) due through 2025\t470\t460\nFinance leases\t256\t123\nTotal\t20017\t15788\nLess current portion of long-term debt\t(2741)\t(1581)\nLong-term debt\t17276\t14207\n", "q10k_tbl_59": "2021\t2022\t2023\t2024\t2025\tThereafter\tTotal\n2750\t2851\t1705\t1667\t1465\t9693\t20131\n", "q10k_tbl_60": "Interest Rate\tMaturity Date\tAmount Repurchased\n3.625%\tMay 2023\t359\n4.000%\tFebruary 2024\t203\n3.625%\tFebruary 2026\t249\n4.125%\tMay 2028\t27\n6.500%\tNovember 2031\t5\n7.000%\tAugust 2037\t1\n6.875%\tFebruary 2038\t24\n6.875%\tJanuary 2039\t10\n6.500%\tFebruary 2040\t1\n4.625%\tMay 2048\t71\n", "q10k_tbl_61": "Interest Rate\tMaturity Date\tAmount\tUSD Equivalent\n0.625%\tOctober 2020\tFr.135\t147\nVariable\tSeptember 2020(1)\t750\t750\n3.000%\tMay 2020\t750\t750\n0.050%\tMarch 2020\tFr.225\t234\n5.375%\tFebruary 2020\t427\t427\n", "q10k_tbl_62": "Interest Rate\tMaturity Date\tAmount\tUSD Equivalent\n1.625%\tOctober 2019\t1750\t1750\nVariable\tOctober 2019\t500\t500\nVariable\tFebruary 2019\t400\t400\n", "q10k_tbl_63": "Issuance Date\tInterest Rate\tMaturity Date\tGross Proceeds (1)\tGross Proceeds USD Equivalent\nOctober 2020\t1.875%\tOctober 2032\t625\t625\nOctober 2020 & September 2020(2)\t2.625%\tSeptember 2050\t1125\t1125\nSeptember 2020(3)\t0.000%\tSeptember 2026\t€500\t588\nSeptember 2020(3)\t0.375%\tSeptember 2029\t€750\t882\nSeptember 2020\t1.500%\tFebruary 2031\t500\t500\nJuly 2020\t0.625%\tJuly 2022\t1000\t1000\nMay 2020\t1.500%\tMay 2025\t750\t750\nMay 2020 & April 2020(2)\t2.750%\tApril 2030\t1250\t1250\nApril 2020\t2.125%\tApril 2023\t500\t500\n", "q10k_tbl_64": "Issuance Date\tInterest Rate\tMaturity Date\tGross Proceeds (1)\tGross Proceeds USD Equivalent\nOctober 2019(3)\t0.875%\tOctober 2031\t€500\t548\nSeptember 2019(3)(4)\t2.125%\tSeptember 2022\t500\t500\nSeptember 2019(3)(4)\t2.250%\tSeptember 2024\t500\t500\nSeptember 2019(4)(5)\tVariable\tSeptember 2022\t500\t500\nSeptember 2019(4)(5)\tVariable\tSeptember 2024\t500\t500\nFebruary 2019\t3.625%\tFebruary 2026\t600\t600\n", "q10k_tbl_65": "\tAs of December 31\t\n\t2020\t2019\n\t(in millions)\t\nFair Value\t21568\t19388\nCarrying Value\t20046\t18426\n", "q10k_tbl_66": "\tFor the Years Ended December 31\t\t\n\t2020\t2019\t2018\n\t(in millions)\t\t\nInterest expense debt\t423\t484\t462\nLoss on debt extinguishment and related expenses\t185\t0\t140\nLoss/(gain) related to interest rate swaps\t103\t111\t(10)\nOther (income)/expense net\t(103)\t(139)\t(72)\nInterest and other expense net\t608\t456\t520\n", "q10k_tbl_67": "\tAs of December 31\t\t\t\n\t2020\t\t2019\t\n\tAsset Derivatives\tLiability Derivatives\tAsset Derivatives\tLiability Derivatives\n\t(in millions)\t\t\t\nDerivatives designated as accounting hedges:\t\t\t\t\nInterest rate contracts\t12\t340\t19\t190\nNet investment hedge derivative contracts (1)\t114\t129\t312\t65\n\t126\t469\t331\t255\nDerivatives not designated as accounting hedges:\t\t\t\t\nCurrency exchange contracts\t134\t119\t67\t50\nCommodity contracts\t205\t128\t201\t120\n\t339\t247\t268\t170\nTotal fair value\t465\t716\t599\t425\n", "q10k_tbl_68": "\tAs of December 31 2020\t\t\t\n\tTotal Fair Value of Net Asset/(Liability)\tQuoted Prices in Active Markets for Identical Assets (Level 1)\tSignificant Other Observable Inputs (Level 2)\tSignificant Unobservable Inputs (Level 3)\n\t(in millions)\t\t\t\nCurrency exchange contracts\t15\t0\t15\t0\nCommodity contracts\t77\t46\t31\t0\nInterest rate contracts\t(328)\t0\t(328)\t0\nNet investment hedge contracts\t(15)\t0\t(15)\t0\nTotal derivatives\t(251)\t46\t(297)\t0\n", "q10k_tbl_69": "\tAs of December 31 2019\t\t\t\n\tTotal Fair Value of Net Asset/(Liability)\tQuoted Prices in Active Markets for Identical Assets (Level 1)\tSignificant Other Observable Inputs (Level 2)\tSignificant Unobservable Inputs (Level 3)\n\t(in millions)\t\t\t\nCurrency exchange contracts\t17\t0\t17\t0\nCommodity contracts\t81\t27\t54\t0\nInterest rate contracts\t(171)\t0\t(171)\t0\nNet investment hedge contracts\t247\t0\t247\t0\nTotal derivatives\t174\t27\t147\t0\n", "q10k_tbl_70": "\tNotional Amount\t\n\tAs of December 31\t\n\t2020\t2019\n\t(in millions)\t\nCurrency exchange contracts:\t\t\nIntercompany loans and forecasted interest payments\t2184\t2474\nForecasted transactions\t4169\t3993\nCommodity contracts\t7947\t7238\nInterest rate contracts\t3500\t5250\nNet investment hedges:\t\t\nNet investment hedge derivative contracts\t4551\t6864\nNon-U.S. dollar debt designated as net investment hedges\t\t\nEuro notes\t3744\t3436\nBritish pound sterling notes\t360\t349\nSwiss franc notes\t1175\t1448\nCanadian dollar notes\t472\t462\n", "q10k_tbl_71": "\tFor the Years Ended December 31\t\t\n\t2020\t2019\t2018\n\t(in millions)\t\t\nAccumulated (loss)/gain at beginning of period\t(213)\t(168)\t(114)\nTransfer of realized (gains)/losses in fair value to earnings\t161\t154\t(9)\nUnrealized gain/(loss) in fair value\t(109)\t(199)\t(45)\nAccumulated (loss)/gain at end of period\t(161)\t(213)\t(168)\n", "q10k_tbl_72": "\tFor the Years Ended December 31\t\t\n\t2020\t2019\t2018\n\t(in millions)\t\t\nInterest rate contracts\t(161)\t(154)\t9\n", "q10k_tbl_73": "\tFor the Years Ended December 31\t\t\n\t2020\t2019\t2018\n\t(in millions)\t\t\nCurrency exchange contracts - forecasted transactions\t(2)\t3\t0\nInterest rate contracts\t(107)\t(202)\t(45)\nTotal\t(109)\t(199)\t(45)\n", "q10k_tbl_74": "\tFor the Years Ended December 31\t\t\n\t2020\t2019\t2018\n\t(in millions)\t\t\nAfter-tax gain/(loss) on NIH contracts(1)\t(221)\t(6)\t191\n", "q10k_tbl_75": "\tFor the Years Ended December 31\t\t\n\t2020\t2019\t2018\n\t(in millions)\t\t\nAmounts excluded from the assessment of hedge effectiveness(1)\t117\t133\t120\n", "q10k_tbl_76": "\tFor the Years Ended December 31\t\t\n\t2020\t2019\t2018\n\t(in millions)\t\t\nEuro notes\t(251)\t60\t126\nBritish pound sterling notes\t(8)\t(10)\t19\nSwiss franc notes\t(82)\t(19)\t7\nCanadian notes\t(7)\t(17)\t17\n", "q10k_tbl_77": "\tFor the Years Ended December 31\t\t\tRecognized in Earnings\n\t2020\t2019\t2018\n\t(in millions)\t\t\t\nCurrency exchange contracts:\t\t\t\t\nIntercompany loans and forecasted interest payments\t(70)\t100\t98\tInterest and other expense net\nForecasted transactions\t41\t17\t103\tCost of sales\nForecasted transactions\t(4)\t(3)\t(4)\tInterest and other expense net\nForecasted transactions\t(1)\t(8)\t(3)\tSelling general and administrative expenses\nCommodity contracts\t4\t67\t40\tCost of sales\nTotal\t(30)\t173\t234\t\n", "q10k_tbl_78": "\tU.S. Plans\t\tNon-U.S. Plans\t\n\t2020\t2019\t2020\t2019\n\t(in millions)\t\t\t\nProjected benefit obligation at January 1\t1748\t1511\t10458\t9578\nService cost\t6\t38\t121\t122\nInterest cost\t49\t60\t149\t202\nBenefits paid\t(35)\t(40)\t(473)\t(424)\nSettlements paid\t(95)\t(73)\t0\t(1)\nActuarial (gains)/losses\t213\t251\t679\t761\nCurrency\t0\t0\t572\t207\nOther (1)\t1\t1\t152\t13\nProjected benefit obligation at December 31\t1887\t1748\t11658\t10458\nFair value of plan assets at January 1\t1739\t1510\t9758\t8465\nActual return on plan assets\t337\t334\t865\t1211\nContributions\t13\t8\t208\t261\nBenefits paid\t(35)\t(40)\t(473)\t(424)\nSettlements paid\t(95)\t(73)\t0\t(1)\nCurrency\t0\t0\t489\t246\nOther (1)\t0\t0\t125\t0\nFair value of plan assets at December 31\t1959\t1739\t10972\t9758\nNet pension (liabilities)/assets at December 31\t72\t(9)\t(686)\t(700)\n", "q10k_tbl_79": "\tAs of December 31\t\n\t2020\t2019\n\t(in millions)\t\nPrepaid pension assets\t672\t516\nOther current liabilities\t(29)\t(35)\nAccrued pension costs\t(1257)\t(1190)\n\t(614)\t(709)\n", "q10k_tbl_80": "\tU.S. Plans\t\tNon-U.S. Plans\t\n\tAs of December 31\t\tAs of December 31\t\n\t2020\t2019\t2020\t2019\n\t(in millions)\t\t\t\nProjected benefit obligation\t51\t55\t4059\t3613\nAccumulated benefit obligation\t51\t55\t3873\t3447\nFair value of plan assets\t3\t2\t2827\t2443\n", "q10k_tbl_81": "\tU.S. Plans\t\tNon-U.S. Plans\t\n\tAs of December 31\t\tAs of December 31\t\n\t2020\t2019\t2020\t2019\nDiscount rate\t2.73 %\t3.44%\t1.33 %\t1.74%\nExpected rate of return on plan assets\t4.50 %\t5.00%\t3.90 %\t4.20%\nRate of compensation increase\t4.00 %\t4.00%\t3.16 %\t3.17%\n", "q10k_tbl_82": "\tU.S. Plans\t\t\tNon-U.S. Plans\t\t\n\tFor the Years Ended December 31\t\t\tFor the Years Ended December 31\t\t\n\t2020\t2019\t2018\t2020\t2019\t2018\n\t(in millions)\t\t\t\t\t\nService cost\t6\t38\t43\t121\t122\t146\nInterest cost\t49\t60\t61\t149\t202\t199\nExpected return on plan assets\t(77)\t(88)\t(88)\t(400)\t(404)\t(448)\nAmortization:\t\t\t\t\t\t\nNet loss/(gain)\t17\t30\t32\t118\t148\t163\nPrior service cost/(benefit)\t1\t1\t2\t(7)\t(6)\t(2)\nSettlement losses and other expenses (1)\t18\t16\t35\t4\t(3)\t5\nNet periodic pension cost\t14\t57\t85\t(15)\t59\t63\n", "q10k_tbl_83": "\tU.S. Plans\t\t\tNon-U.S. Plans\t\t\n\tFor the Years Ended December 31\t\t\tFor the Years Ended December 31\t\t\n\t2020\t2019\t2018\t2020\t2019\t2018\nDiscount rate\t3.44%\t4.40%\t3.68%\t1.74%\t2.45%\t2.20%\nExpected rate of return on plan assets\t5.00%\t5.75%\t5.50%\t4.20%\t4.80%\t4.90%\nRate of compensation increase\t4.00%\t4.00%\t4.00%\t3.17%\t3.31%\t3.31%\n", "q10k_tbl_84": "\tAs of December 31 2020\t\t\t\nAsset Category\tTotal Fair Value\tQuoted Prices in Active Markets for Identical Assets (Level 1)\tSignificant Other Observable Inputs (Level 2)\tSignificant Unobservable Inputs (Level 3)\n\t(in millions)\t\t\t\nU.S. equity securities\t4\t4\t0\t0\nNon-U.S. equity securities\t1\t1\t0\t0\nPooled funds - equity securities\t2225\t999\t1226\t0\nTotal equity securities\t2230\t1004\t1226\t0\nGovernment bonds\t4340\t60\t4280\t0\nPooled funds - fixed-income securities\t622\t439\t183\t0\nCorporate bonds and other fixed-income securities\t2860\t258\t811\t1791\nTotal fixed-income securities\t7822\t757\t5274\t1791\nReal estate\t212\t142\t0\t70\nPrivate equity\t3\t0\t0\t3\nCash\t117\t107\t10\t0\nOther\t5\t4\t0\t1\nTotal assets in the fair value hierarchy\t10389\t2014\t6510\t1865\nInvestments measured at net asset value\t2413\t\t\t\nTotal investments at fair value\t12802\t\t\t\n", "q10k_tbl_85": "\tAs of December 31 2019\t\t\t\nAsset Category\tTotal Fair Value\tQuoted Prices in Active Markets for Identical Assets (Level 1)\tSignificant Other Observable Inputs (Level 2)\tSignificant Unobservable Inputs (Level 3)\n\t(in millions)\t\t\t\nU.S. equity securities\t2\t2\t0\t0\nNon-U.S. equity securities\t2\t2\t0\t0\nPooled funds - equity securities\t2186\t890\t1296\t0\nTotal equity securities\t2190\t894\t1296\t0\nGovernment bonds\t3328\t53\t3275\t0\nPooled funds - fixed-income securities\t575\t417\t158\t0\nCorporate bonds and other fixed-income securities\t2727\t66\t825\t1836\nTotal fixed-income securities\t6630\t536\t4258\t1836\nReal estate\t186\t124\t0\t62\nPrivate equity\t3\t0\t0\t3\nCash\t122\t117\t5\t0\nOther\t2\t1\t0\t1\nTotal assets in the fair value hierarchy\t9133\t1672\t5559\t1902\nInvestments measured at net asset value\t2297\t\t\t\nTotal investments at fair value\t11430\t\t\t\n", "q10k_tbl_86": "Asset Category\tJanuary 1 2020 Balance\tNet Realized and Unrealized Gains/ (Losses)\tNet Purchases Issuances and Settlements\tNet Transfers Into/(Out of) Level 3\tCurrency Impact\tDecember 31 2020 Balance\n\t(in millions)\t\t\t\t\t\nCorporate bond and other fixed-income securities\t1836\t16\t(110)\t0\t49\t1791\nReal estate\t62\t5\t0\t0\t3\t70\nPrivate equity and other\t4\t0\t0\t0\t0\t4\nTotal Level 3 investments\t1902\t21\t(110)\t0\t52\t1865\nAsset Category\tJanuary 1 2019 Balance\tNet Realized and Unrealized Gains/ (Losses)\tNet Purchases Issuances and Settlements\tNet Transfers Into/(Out of) Level 3\tCurrency Impact\tDecember 31 2019 Balance\n\t(in millions)\t\t\t\t\t\nCorporate bond and other fixed-income securities\t1032\t8\t727\t0\t69\t1836\nReal estate\t22\t36\t3\t0\t1\t62\nPrivate equity and other\t3\t1\t0\t0\t0\t4\nTotal Level 3 investments\t1057\t45\t730\t0\t70\t1902\n", "q10k_tbl_87": "\tU.S. Plans\t\tNon-U.S. Plans\t\n\tAs of December 31\t\tAs of December 31\t\nAsset Category\t2020\t2019\t2020\t2019\nEquity securities\t15%\t15%\t23%\t26%\nFixed-income securities\t85%\t85%\t58%\t54%\nReal estate\t0\t0\t5%\t6%\nHedge funds\t0\t0\t2%\t1%\nBuy-in annuity policies\t0\t0\t11%\t12%\nCash\t0\t0\t1%\t1%\nTotal\t100%\t100%\t100%\t100%\n", "q10k_tbl_88": "\t2021\t2022\t2023\t2024\t2025\t2025-2030\nU.S. Plans\t168\t104\t105\t103\t104\t506\nNon-U.S. Plans\t411\t410\t420\t431\t438\t2291\n", "q10k_tbl_89": "\tAs of December 31\t\n\t2020\t2019\n\t(in millions)\t\nAccrued benefit obligation at January 1\t403\t366\nService cost\t5\t5\nInterest cost\t12\t15\nBenefits paid\t(17)\t(16)\nCurrency\t(1)\t5\nActuarial losses/(gains)\t(41)\t28\nAccrued benefit obligation at December 31\t361\t403\n", "q10k_tbl_90": "\tU.S. Plans\t\tNon-U.S. Plans\t\n\tAs of December 31\t\tAs of December 31\t\n\t2020\t2019\t2020\t2019\nDiscount rate\t2.68 %\t3.41%\t3.35 %\t3.86%\nHealth care cost trend rate assumed for next year\t5.75 %\t6.00%\t5.66 %\t5.42%\nUltimate trend rate\t5.00 %\t5.00%\t4.44%\t5.42%\nYear that the rate reaches the ultimate trend rate\t2024\t2024\t2040\t2019\n", "q10k_tbl_91": "\tFor the Years Ended December 31\t\t\n\t2020\t2019\t2018\n\t(in millions)\t\t\nService cost\t5\t5\t6\nInterest cost\t12\t15\t14\nAmortization:\t\t\t\nNet loss/(gain)\t7\t6\t15\nPrior service credit\t(30)\t(38)\t(39)\nNet periodic postretirement health care costs/(benefit)\t(6)\t(12)\t(4)\n", "q10k_tbl_92": "\tU.S. Plans\t\t\tNon-U.S. Plans\t\t\n\tFor the Years Ended December 31\t\t\tFor the Years Ended December 31\t\t\n\t2020\t2019\t2018\t2020\t2019\t2018\nDiscount rate\t3.41%\t4.37%\t3.66%\t3.86%\t4.40%\t4.24%\nHealth care cost trend rate\t6.00%\t6.25%\t6.25%\t5.42%\t5.44%\t5.56%\n", "q10k_tbl_93": "\t2021\t2022\t2023\t2024\t2025\t2025-2030\nU.S. Plans\t11\t11\t12\t12\t12\t60\nNon-U.S. Plans\t5\t5\t5\t5\t5\t29\n", "q10k_tbl_94": "\tAs of December 31\t\n\t2020\t2019\n\t(in millions)\t\nAccrued benefit obligation at January 1\t66\t74\nService cost\t6\t6\nInterest cost\t3\t5\nBenefits paid\t(10)\t(9)\nActuarial losses/(gains)\t0\t(10)\nAccrued benefit obligation at December 31\t65\t66\n", "q10k_tbl_95": "\tFor the Years Ended December 31\t\t\n\t2020\t2019\t2018\n\t(in millions)\t\t\nService cost\t6\t6\t6\nInterest cost\t3\t5\t4\nAmortization of net gains\t(2)\t(4)\t(3)\nNet periodic postemployment costs\t7\t7\t7\n", "q10k_tbl_96": "\tRisk-Free Interest Rate\tExpected Life\tExpected Volatility\tExpected Dividend Yield\tFair Value at Grant Date\n2020\t1.34%\t5 years\t19.64%\t2.06%\t8.61\n2019\t2.46 %\t5 years\t19.96 %\t2.37 %\t7.83\n2018\t2.68 %\t5 years\t20.96 %\t2.02 %\t8.30\n", "q10k_tbl_97": "\tShares Subject to Option\tWeighted- Average Exercise or Grant Price Per Share\tAverage Remaining Contractual Term\tAggregate Intrinsic Value\t\nBalance at January 1 2018\t48434655\t29.92\t\t626\tmillion\nAnnual grant to eligible employees\t5666530\t43.51\t\t\t\nAdditional options issued\t168306\t31.40\t\t\t\nTotal options granted\t5834836\t43.16\t\t\t\nOptions exercised (1)\t(9333271)\t25.16\t\t170\tmillion\nOptions cancelled\t(1117390)\t42.93\t\t\t\nBalance at December 31 2018\t43818830\t32.36\t\t371\tmillion\nAnnual grant to eligible employees\t4793570\t47.72\t\t\t\nAdditional options issued\t68420\t50.82\t\t\t\nTotal options granted\t4861990\t47.76\t\t\t\nOptions exercised (1)\t(13668354)\t27.53\t\t306\tmillion\nOptions cancelled\t(1156518)\t42.22\t\t\t\nBalance at December 31 2019\t33855948\t36.19\t\t640\tmillion\nAnnual grant to eligible employees\t2280440\t59.04\t\t\t\nAdditional options issued\t136360\t49.48\t\t\t\nTotal options granted\t2416800\t58.50\t\t\t\nOptions exercised (1)\t(7847964)\t30.55\t\t205\tmillion\nOptions cancelled\t(672890)\t44.94\t\t\t\nBalance at December 31 2020\t27751894\t39.51\t5 years\t527\tmillion\nExercisable at December 31 2020\t21444333\t36.18\t4 years\t478\tmillion\n", "q10k_tbl_98": "\tNumber of Shares\tGrant Date\tWeighted-Average Fair Value Per Share (4)\tWeighted-Average Aggregate Fair Value (3)\t\nBalance at January 1 2018\t7669705\t\t39.74\t\t\nAnnual grant to eligible employees:\t\tFeb. 22 2018\t\t\t\nPerformance share units\t1048770\t\t51.23\t\t\nDeferred stock units\t788310\t\t43.51\t\t\nAdditional shares granted (1)\t446752\tVarious\t41.78\t\t\nTotal shares granted\t2283832\t\t46.72\t107\tmillion\nVested (2) (3)\t(2511992)\t\t38.91\t98\tmillion\nForfeited (2)\t(882535)\t\t42.00\t\t\nBalance at December 31 2018\t6559010\t\t42.19\t\t\nAnnual grant to eligible employees:\t\tFeb. 22 2019\t\t\t\nPerformance share units\t891210\t\t57.91\t\t\nDeferred stock units\t666880\t\t47.72\t\t\nAdditional shares granted (1)\t205073\tVarious\t54.81\t\t\nTotal shares granted\t1763163\t\t53.69\t95\tmillion\nVested (2) (3)\t(2007848)\t\t37.81\t76\tmillion\nForfeited (2)\t(652380)\t\t45.88\t\t\nBalance at December 31 2019\t5661945\t\t46.90\t\t\nAnnual grant to eligible employees:\t\tFeb. 20 2020\t\t\t\nPerformance share units\t825230\t\t65.83\t\t\nDeferred stock units\t545550\t\t59.04\t\t\nAdditional shares granted (1)\t390730\tVarious\t56.90\t\t\nTotal shares granted\t1761510\t\t61.75\t109\tmillion\nVested (3)\t(2051054)\t\t42.87\t88\tmillion\nForfeited\t(475411)\t\t48.24\t\t\nBalance at December 31 2020\t4896990\t\t53.80\t\t\n", "q10k_tbl_99": "\tShares Issued\tTreasury Shares\tShares Outstanding\nBalance at January 1 2018\t1996537778\t(508401694)\t1488136084\nShares repurchased\t0\t(47258884)\t(47258884)\nExercise of stock options and issuance of other stock awards\t0\t10122655\t10122655\nBalance at December 31 2018\t1996537778\t(545537923)\t1450999855\nShares repurchased\t0\t(30902465)\t(30902465)\nExercise of stock options and issuance of other stock awards\t0\t14908864\t14908864\nBalance at December 31 2019\t1996537778\t(561531524)\t1435006254\nShares repurchased\t0\t(25071845)\t(25071845)\nExercise of stock options and issuance of other stock awards\t0\t9239812\t9239812\nBalance at December 31 2020\t1996537778\t(577363557)\t1419174221\n", "q10k_tbl_100": "\tFor the Years Ended December 31\t\t\n\t2020\t2019\t2018\n\t(in millions)\t\t\nCurrency Translation Adjustments:\t\t\t\nBalance at beginning of period\t(8320)\t(8622)\t(7714)\nCurrency translation adjustments\t(398)\t251\t(743)\nReclassification to earnings related to:\t\t\t\nEquity method investment transactions (1)\t29\t0\t6\nTax (expense)/benefit\t47\t49\t(173)\nOther comprehensive earnings/(losses)\t(322)\t300\t(910)\nLess: other comprehensive (earnings)/loss attributable to noncontrolling interests\t(13)\t2\t2\nBalance at end of period\t(8655)\t(8320)\t(8622)\nPension and Other Benefit Plans:\t\t\t\nBalance at beginning of period\t(1721)\t(1854)\t(2185)\nNet actuarial gain/(loss) arising during period\t(187)\t4\t91\nTax (expense)/benefit on net actuarial gain/(loss)\t38\t22\t(24)\nLosses/(gains) reclassified into net earnings:\t\t\t\nAmortization of experience losses and prior service costs (2)\t104\t137\t168\nSettlement losses and other expenses (1)\t22\t30\t40\nTax expense/(benefit) on reclassifications (3)\t(31)\t(42)\t(36)\nCurrency impact\t(99)\t(18)\t92\nOther comprehensive earnings/(losses)\t(153)\t133\t331\nBalance at end of period\t(1874)\t(1721)\t(1854)\nDerivative Cash Flow Hedges:\t\t\t\nBalance at beginning of period\t(213)\t(168)\t(114)\nNet derivative gains/(losses)\t(132)\t(224)\t(56)\nTax (expense)/benefit on net derivative gain/(loss)\t27\t19\t5\nLosses/(gains) reclassified into net earnings:\t\t\t\nInterest rate contracts (1) (4)\t189\t155\t(11)\nTax expense/(benefit) on reclassifications (3)\t(28)\t(1)\t2\nCurrency impact\t(4)\t6\t6\nOther comprehensive earnings/(losses)\t52\t(45)\t(54)\nBalance at end of period\t(161)\t(213)\t(168)\nAccumulated other comprehensive income attributable to Mondel'z International:\t\t\t\nBalance at beginning of period\t(10254)\t(10644)\t(10013)\nTotal other comprehensive earnings/(losses)\t(423)\t388\t(633)\nLess: other comprehensive (earnings)/loss attributable to noncontrolling interests\t(13)\t2\t2\nOther comprehensive earnings/(losses) attributable to Mondel'z International\t(436)\t390\t(631)\nBalance at end of period\t(10690)\t(10254)\t(10644)\n", "q10k_tbl_101": "\tFor the Years Ended December 31\t\t\n\t2020\t2019\t2018\n\t(in millions)\t\t\nEarnings/(losses) from continuing operations before income taxes:\t\t\t\nUnited States\t514\t751\t(170)\nOutside United States\t2869\t2696\t3012\n\t3383\t3447\t2842\nProvision for income taxes:\t\t\t\nUnited States federal:\t\t\t\nCurrent\t440\t145\t(34)\nDeferred\t(82)\t97\t171\n\t358\t242\t137\nState and local:\t\t\t\nCurrent\t98\t29\t23\nDeferred\t(7)\t45\t61\n\t91\t74\t84\nTotal United States\t449\t316\t221\nOutside United States:\t\t\t\nCurrent\t756\t459\t552\nDeferred\t19\t(773)\t0\nTotal outside United States\t775\t(314)\t552\nTotal provision for income taxes\t1224\t2\t773\n", "q10k_tbl_102": "\tFor the Years Ended December 31\t\t\n\t2020\t2019\t2018\nU.S. federal statutory rate\t21.0%\t21.0%\t21.0%\nIncrease/(decrease) resulting from:\t\t\t\nState and local income taxes net of federal tax benefit\t1.6%\t1.3%\t0.4%\nForeign rate differences\t1.1%\t0.2%\t(1.9)%\nChanges in judgment on realizability of deferred tax assets\t(2.2)%\t(0.3)%\t(0.4)%\nReversal of other tax accruals no longer required\t(0.8)%\t(3.0)%\t(1.8)%\nTax accrual on investment in KDP (including tax impact share sales)\t6.7%\t0.8%\t8.4%\nExcess tax benefits from equity compensation\t(1.0)%\t(1.2)%\t(0.8)%\nTax legislation (non-U.S. and non-Swiss tax reform)\t1.0%\t0.4%\t0.3%\nSwiss tax reform\t0\t(22.3)%\t0\nBusiness sales (including tax impact from JDE Peet's transaction)\t7.4%\t0\t0\nU.S. tax reform - transition tax\t0\t0.1%\t(1.3)%\nU.S. tax reform - changes in indefinite reinvestment assertion\t0\t0\t2.1%\nForeign tax provisions under TCJA (GILTI FDII and BEAT)(1)\t1.1%\t2.5%\t1.1%\nOther\t0.3%\t0.6%\t0.1%\nEffective tax rate\t36.2%\t0.1%\t27.2%\n", "q10k_tbl_103": "\tAs of December 31\t\n\t2020\t2019\n\t(in millions)\t\nDeferred income tax assets:\t\t\nAccrued postretirement and postemployment benefits\t137\t150\nAccrued pension costs\t251\t272\nOther employee benefits\t151\t160\nAccrued expenses\t420\t287\nLoss carryforwards\t648\t589\nTax credit carryforwards\t790\t729\nOther\t535\t438\nTotal deferred income tax assets\t2932\t2625\nValuation allowance\t(1277)\t(1243)\nNet deferred income tax assets\t1655\t1382\nDeferred income tax liabilities:\t\t\nIntangible assets including impact from Swiss tax reform\t(2951)\t(2772)\nProperty plant and equipment\t(747)\t(663)\nOther\t(513)\t(559)\nTotal deferred income tax liabilities\t(4211)\t(3994)\nNet deferred income tax liabilities\t(2556)\t(2612)\n", "q10k_tbl_104": "\tFor the Years Ended December 31\t\t\n\t2020\t2019\t2018\n\t(in millions)\t\t\nJanuary 1\t426\t516\t579\nIncreases from positions taken during prior periods\t35\t27\t36\nDecreases from positions taken during prior periods\t(17)\t(35)\t(43)\nIncreases from positions taken during the current period\t48\t50\t57\nDecreases relating to settlements with taxing authorities\t(27)\t(64)\t(45)\nReductions resulting from the lapse of the applicable statute of limitations\t(29)\t(64)\t(31)\nCurrency/other\t6\t(4)\t(37)\nDecember 31\t442\t426\t516\n", "q10k_tbl_105": "\tFor the Years Ended December 31\t\t\n\t2020\t2019\t2018\n\t(in millions except per share data)\t\t\nNet earnings\t3569\t3944\t3331\nNoncontrolling interest earnings\t(14)\t(15)\t(14)\nNet earnings attributable to Mondel'z International\t3555\t3929\t3317\nWeighted-average shares for basic EPS\t1431\t1445\t1472\nPlus incremental shares from assumed conversions of stock options and long-term incentive plan shares\t10\t13\t14\nWeighted-average shares for diluted EPS\t1441\t1458\t1486\nBasic earnings per share attributable to Mondel'z International\t2.48\t2.72\t2.25\nDiluted earnings per share attributable to Mondel'z International\t2.47\t2.69\t2.23\n", "q10k_tbl_106": "\tFor the Years Ended December 31\t\t\n\t2020\t2019\t2018\n\t(in millions)\t\t\nNet revenues:\t\t\t\nLatin America\t2477\t3018\t3202\nAMEA\t5740\t5770\t5729\nEurope\t10207\t9972\t10122\nNorth America\t8157\t7108\t6885\nNet revenues\t26581\t25868\t25938\n", "q10k_tbl_107": "Earnings before income taxes:\t\t\t\nOperating income:\t\t\t\nLatin America\t189\t341\t410\nAMEA\t821\t691\t702\nEurope\t1775\t1732\t1734\nNorth America\t1587\t1451\t849\nUnrealized gains/(losses) on hedging activities (mark-to-market impacts)\t16\t91\t141\nGeneral corporate expenses\t(326)\t(330)\t(335)\nAmortization of intangible assets\t(194)\t(174)\t(176)\nNet gain on divestiture\t0\t44\t0\nAcquisition-related costs\t(15)\t(3)\t(13)\nOperating income\t3853\t3843\t3312\nBenefit plan non-service income\t138\t60\t50\nInterest and other expense net\t(608)\t(456)\t(520)\nEarnings before income taxes\t3383\t3447\t2842\n", "q10k_tbl_108": "\tFor the Years Ended December 31\t\t\n\t2020\t2019\t2018\n\t(in millions)\t\t\nTotal assets:\t\t\t\nLatin America (1)\t4181\t4716\t4699\nAMEA (1)\t9997\t9740\t9571\nEurope (1)\t21442\t20354\t19426\nNorth America (1)\t23297\t21637\t21015\nEquity method investments\t6036\t7178\t7012\nUnallocated assets and adjustments (2)\t2857\t890\t895\nTotal assets\t67810\t64515\t62618\n", "q10k_tbl_109": "\tFor the Years Ended December 31\t\t\n\t2020\t2019\t2018\n\t(in millions)\t\t\nDepreciation expense (1):\t\t\t\nLatin America\t101\t105\t97\nAMEA\t159\t164\t159\nEurope\t238\t238\t248\nNorth America\t154\t138\t131\nTotal depreciation expense\t652\t645\t635\n", "q10k_tbl_110": "\tFor the Years Ended December 31\t\t\n\t2020\t2019\t2018\n\t(in millions)\t\t\nCapital expenditures:\t\t\t\nLatin America\t219\t197\t261\nAMEA\t177\t244\t277\nEurope\t295\t297\t326\nNorth America\t172\t187\t231\nTotal capital expenditures\t863\t925\t1095\n", "q10k_tbl_111": "\tFor the Years Ended December 31\t\t\n\t2020\t2019\t2018\n\t(in millions)\t\t\nNet revenues:\t\t\t\nUnited States\t7130\t6625\t6401\nOther\t19451\t19243\t19537\nTotal net revenues\t26581\t25868\t25938\n", "q10k_tbl_112": "\tAs of December 31\t\t\n\t2020\t2019\t2018\n\t(in millions)\t\t\nLong-lived assets:\t\t\t\nUnited States\t1956\t1806\t1481\nOther\t8672\t8370\t7539\nTotal long-lived assets\t10628\t10176\t9020\n", "q10k_tbl_113": "\tFor the Year Ended December 31 2020\t\t\t\t\n\tLatin America\tAMEA\tEurope\tNorth America\tTotal\n\t(in millions)\t\t\t\t\nBiscuits\t668\t2039\t3035\t7024\t12766\nChocolate\t610\t2025\t5291\t253\t8179\nGum & Candy\t474\t696\t612\t880\t2662\nBeverages\t403\t544\t102\t0\t1049\nCheese & Grocery\t322\t436\t1167\t0\t1925\nTotal net revenues\t2477\t5740\t10207\t8157\t26581\n", "q10k_tbl_114": "\tFor the Year Ended December 31 2019\t\t\t\t\n\tLatin America\tAMEA\tEurope\tNorth America\tTotal\n\t(in millions)\t\t\t\t\nBiscuits\t708\t1844\t2998\t5888\t11438\nChocolate\t710\t2082\t5119\t247\t8158\nGum & Candy\t823\t861\t698\t973\t3355\nBeverages\t452\t546\t97\t0\t1095\nCheese & Grocery\t325\t437\t1060\t0\t1822\nTotal net revenues\t3018\t5770\t9972\t7108\t25868\n", "q10k_tbl_115": "\tFor the Year Ended December 31 2018\t\t\t\t\n\tLatin America\tAMEA\tEurope\tNorth America\tTotal\n\t(in millions)\t\t\t\t\nBiscuits\t727\t1724\t3127\t5607\t11185\nChocolate\t747\t2080\t5083\t267\t8177\nGum & Candy\t865\t879\t736\t1011\t3491\nBeverages\t533\t553\t98\t0\t1184\nCheese & Grocery\t330\t493\t1078\t0\t1901\nTotal net revenues\t3202\t5729\t10122\t6885\t25938\n", "q10k_tbl_116": "\t2020 Quarters\t\t\t\n\tFirst (1)\tSecond\tThird\tFourth\n\t(in millions except per share data)\t\t\t\nNet revenues\t6707\t5911\t6665\t7298\nGross profit\t2451\t2331\t2792\t2872\nIncome tax (provision)/benefit\t(148)\t(341)\t(391)\t(344)\nGain/(loss) on equity method investment transactions\t71\t121\t345\t452\nEquity method investment net earnings\t121\t106\t84\t110\nNet earnings\t743\t545\t1122\t1159\nNoncontrolling interest\t(7)\t(1)\t(3)\t(3)\nNet earnings attributable to Mondel'z International\t736\t544\t1119\t1156\nWeighted-average shares for basic EPS\t1434\t1431\t1432\t1429\nPlus incremental shares from assumed conversions of stock options and long-term incentive plan shares\t11\t8\t10\t10\nWeighted-average shares for diluted EPS\t1445\t1439\t1442\t1439\nPer share data:\t\t\t\t\nBasic EPS attributable to Mondel'z International:\t0.51\t0.38\t0.78\t0.81\nDiluted EPS attributable to Mondel'z International:\t0.51\t0.38\t0.78\t0.80\nDividends declared\t0.285\t0.285\t0.315\t0.315\n", "q10k_tbl_117": "\t2019 Quarters (1)\t\t\t\n\tFirst\tSecond\tThird\tFourth\n\t(in millions except per share data)\t\t\t\nNet revenues\t6538\t6062\t6355\t6913\nGross profit\t2593\t2469\t2516\t2759\nIncome tax (provision)/benefit (2)\t(189)\t(216)\t633\t(230)\nGain/(loss) on equity method investment transactions\t23\t(25)\t0\t0\nEquity method investment net earnings\t166\t109\t114\t112\nNet earnings\t973\t804\t1431\t736\nNoncontrolling interest\t(6)\t(1)\t(5)\t(3)\nNet earnings attributable to Mondel'z International\t967\t803\t1426\t733\nWeighted-average shares for basic EPS\t1449\t1445\t1445\t1441\nPlus incremental shares from assumed conversions of stock options and long-term incentive plan shares\t12\t13\t13\t12\nWeighted-average shares for diluted EPS\t1461\t1458\t1458\t1453\nPer share data:\t\t\t\t\nBasic EPS attributable to Mondel'z International:\t0.67\t0.56\t0.99\t0.51\nDiluted EPS attributable to Mondel'z International:\t0.66\t0.55\t0.98\t0.50\nDividends declared\t0.26\t0.26\t0.285\t0.285\n", "q10k_tbl_118": "\t2020 Quarters\t\t\t\n\tFirst\tSecond\tThird\tFourth\n\t(in millions)\t\t\t\nAsset impairment and exit costs\t(15)\t(115)\t(123)\t(48)\nImpact from pension participation changes\t(3)\t(3)\t(3)\t(2)\nImpact from the resolution of tax matters\t0\t0\t0\t48\nLoss related to interest rate swaps\t(103)\t0\t0\t0\nLoss on debt extinguishment\t0\t0\t0\t(185)\nGain on equity method investment transactions\t71\t121\t345\t452\n\t(50)\t3\t219\t265\n", "q10k_tbl_119": "\t2019 Quarters\t\t\t\n\tFirst\tSecond\tThird\tFourth\n\t(in millions)\t\t\t\nAsset impairment and exit costs\t(20)\t(15)\t(134)\t(59)\nNet gain on divestiture\t0\t41\t3\t0\nImpact from pension participation changes\t0\t35\t(3)\t(3)\nImpact from the resolution of tax matters\t0\t0\t0\t(85)\nLoss related to interest rate swaps\t0\t0\t(111)\t0\nGain/(loss) on equity method investment transactions\t23\t(25)\t0\t0\n\t3\t36\t(245)\t(147)\n", "q10k_tbl_120": "\tNumber of Securities to be Issued Upon Exercise of Outstanding Options Warrants and Rights (1)\tWeighted Average Exercise Price of Outstanding Options Warrants and Rights (2)\tNumber of Securities Remaining Available for Future Issuance under Equity Compensation Plans (excluding securities reflected in column (a)) (3)\n\t(a)\t(b)\t(c)\nEquity compensation plans approved by security holders\t32642113\t39.51\t53167179\n", "q10k_tbl_121": "Report of Independent Registered Public Accounting Firm\t72\nConsolidated Statements of Earnings for the Years Ended December 31 2020 2019 and 2018\t75\nConsolidated Statements of Comprehensive Earnings for the Years Ended December 31 2020 2019 and 2018\t76\nConsolidated Balance Sheets as of December 31 2020 and 2019\t77\nConsolidated Statements of Equity for the Years Ended December 31 2020 2019 and 2018\t78\nConsolidated Statements of Cash Flows for the Years Ended December 31 2020 2019 and 2018\t79\nNotes to Consolidated Financial Statements\t80\nFinancial Statement Schedule-Valuation and Qualifying Accounts\tS-1\n", "q10k_tbl_122": "2.1\tSeparation and Distribution Agreement between the Registrant and Kraft Foods Group Inc. dated as of September 27 2012 (incorporated by reference to Exhibit 2.1 to the Registrant's Current Report on Form 8-K filed with the SEC on October 1 2012).\n2.2\tCanadian Asset Transfer Agreement by and between Mondelez Canada Inc. and Kraft Canada Inc. dated as of September 29 2012 (incorporated by reference to Exhibit 2.3 to the Registrant's Annual Report on Form 10-K filed with the SEC on February 25 2013).\n2.3\tMaster Ownership and License Agreement Regarding Patents Trade Secrets and Related Intellectual Property among Kraft Foods Global Brands LLC Kraft Foods Group Brands LLC Kraft Foods UK Ltd. and Kraft Foods R&D Inc. dated as of October 1 2012 (incorporated by reference to Exhibit 10.3 to the Registrant's Current Report on Form 8-K filed with the SEC on October 1 2012).\n2.4\tMaster Ownership and License Agreement Regarding Trademarks and Related Intellectual Property by and between Kraft Foods Global Brands LLC and Kraft Foods Group Brands LLC. dated as of September 27 2012 (incorporated by reference to Exhibit 10.4 to the Registrant's Current Report on Form 8-K filed with the SEC on October 1 2012).\n2.5\tFirst Amendment to the Master Ownership and License Agreement Regarding Trademarks and Related Intellectual Property among Intercontinental Great Brands LLC and Kraft Foods Group Brands LLC dated as of July 15 2013 (incorporated by reference to Exhibit 2.1 to the Registrant's Quarterly Report on Form 10-Q filed with the SEC on April 30 2015).\n2.6\tSecond Amendment to the Master Ownership and License Agreement Regarding Trademarks and Related Intellectual Property among Intercontinental Great Brands LLC and Kraft Foods Group Brands LLC dated as of October 1 2014 (incorporated by reference to Exhibit 2.2 to the Registrant's Quarterly Report on Form 10-Q filed with the SEC on April 30 2015).\n2.7\tAmendment to the Master Ownership and License Agreement Regarding Trademarks and Related Intellectual Property among Intercontinental Great Brands LLC and Kraft Foods Group Brands LLC effective as of September 28 2016 (incorporated by reference to Exhibit 2.1 to the Registrant's Quarterly Report on Form 10-Q filed with the SEC on August 2 2017).\n2.8\tFourth Amendment to the Master Ownership and License Agreement Regarding Trademarks and Related Intellectual Property among Intercontinental Great Brands LLC and Kraft Foods Group Brands LLC dated as of October 28 2019 (incorporated by reference to Exhibit 28 to the Registrant's Annual Report on Form 10-K filed with the SEC on February 7 2020).\n3.1\tAmended and Restated Articles of Incorporation of the Registrant effective March 14 2013 (incorporated by reference to Exhibit 3.1 to the Registrant's Quarterly Report on Form 10-Q filed with the SEC on May 8 2013).\n3.2\tAmended and Restated By-Laws of the Registrant effective as of March 17 2020 (incorporated by reference to Exhibit 3.1 to the Registrant's Current Report on Form 8-K filed with the SEC on March 18 2020).\n4.1\tDescription of the Registrant's capital stock and debt securities registered under Section 12 of the Exchange Act.\n", "q10k_tbl_123": "4.2\tThe Registrant agrees to furnish to the SEC upon request copies of any instruments defining the rights of holders of long-term debt of the Registrant and its consolidated subsidiaries that does not exceed 10 percent of the total assets of the Registrant and its consolidated subsidiaries.\n4.3\tIndenture by and between the Registrant and Deutsche Bank Trust Company Americas (as successor trustee to The Bank of New York and The Chase Manhattan Bank) dated as of October 17 2001 (incorporated by reference to Exhibit 4.1 to the Registrant's Registration Statement on Form S-3 (Reg. No. 333-86478) filed with the SEC on April 18 2002).\n4.4\tSupplemental Indenture by and between the Registrant and Deutsche Bank Trust Company Americas Deutsche Bank AG London Branch and Deutsche Bank Luxembourg S.A. dated as of December 11 2013 (incorporated by reference to Exhibit 4.2 to the Registrant's Current Report on Form 8-K filed with the SEC on December 11 2013).\n4.5\tIndenture between the Registrant and Deutsche Bank Trust Company Americas as trustee dated as of March 6 2015 (incorporated by reference to Exhibit 4.4 to the Registrant's Annual Report on Form 10-K filed with the SEC on February 24 2017).\n4.6\tSupplemental Indenture No. 1 dated February 13 2019 between the Registrant and Deutsche Bank Trust Company Americas (incorporated by reference to Exhibit 4.2 to the Registrant's Current Report on Form 8-K filed with the SEC on February 13 2019).\n4.7\tSupplemental Indenture No. 2 dated April 13 2020 between Mondel'z International Inc. and Deutsche Bank Trust Company Americas (incorporated by reference to Exhibit 4.3 to the Registrant's Current Report on Form 8-K filed with the SEC on April 13 2020).\n4.8\tIndenture by and between Mondelez International Holdings Netherlands B.V the Registrant and Deutsche Bank Trust Company Americas dated as of October 28 2016 (incorporated by reference to Exhibit 4.1 to the Registrant's Current Report on Form 8-K filed with the SEC on October 28 2016).\n4.9\tFirst Supplemental Indenture dated as of September 19 2019 by and among Mondelez International Holdings Netherlands B.V. as issuer Mondel'z International Inc. as guarantor and Deutsche Bank Trust Company Americas as trustee (incorporated by reference to Exhibit 4.2 to the Registrant's Current Report on Form 8-K filed with the SEC on September 20 2019).\n4.10\tSecond Supplemental Indenture dated as of October 2 2019 by and among Mondelez International Holdings Netherlands B.V. as issuer Mondel'z International Inc. as guarantor and Deutsche Bank Trust Company Americas as trustee (incorporated by reference to Exhibit 4.2 to the Registrant's Current Report on Form 8-K filed with the SEC on October 2 2019).\n4.11\tThird Supplemental Indenture dated as of September 22 2020 by and among Mondelez International Holdings Netherlands B.V. as issuer Mondel'z International Inc. as guarantor and Deutsche Bank Trust Company Americas as trustee (incorporated by reference to Exhibit 4.2 to the Registrant's Current Report on Form 8-K filed with the SEC on September 24 2020).\n10.1\tFive-Year Revolving Credit Agreement dated February 27 2019 by and among the Registrant the lenders named therein and JPMorgan Chase Bank N.A. as Administrative Agent (incorporated by reference to Exhibit 10.2 to the Registrant's Current Report on Form 8-K filed with the SEC on February 27 2019).\n10.2\t364-Day Revolving Credit Agreement dated February 26 2020 by and among the Registrant the lenders named therein and JPMorgan Chase Bank N.A. as Administrative Agent (incorporated by reference to Exhibit 10.1 to the Registrant's Current Report on Form 8-K filed with the SEC on February 27 2020).\n10.3\tTerm Loan Agreement dated September 13 2019 by and among Mondelez International Holdings Netherlands B.V. as borrower Mondel'z International Inc. as guarantor the lenders named therein MUFG Bank Ltd. BofA Securities Inc. Barclays Bank PLC Credit Suisse Loan Funding LLC JPMorgan Chase Bank N.A. Mizuho Bank Ltd. TD Securities (USA) LLC and Wells Fargo Securities LLC as joint lead arrangers and MUFG Bank Ltd. as administrative agent (incorporated by reference to Exhibit 10.1 to the Registrant's Current Report on Form 8-K filed with the SEC on September 13 2019).\n10.4\tTax Sharing and Indemnity Agreement by and between the Registrant and Kraft Foods Group Inc. dated as of September 27 2012 (incorporated by reference to Exhibit 10.1 to the Registrant's Current Report on Form 8-K filed with the SEC on October 1 2012).\n10.5\tGlobal Contribution Agreement by and among Mondel'z International Holdings LLC Acorn Holdings B.V. Charger Top HoldCo B.V. and Charger OpCo B.V. dated May 7 2014 (incorporated by reference to Exhibit 10.1 to the Registrant's Quarterly Report on Form 10-Q filed with the SEC on August 8 2014).*\n", "q10k_tbl_124": "10.6\tAmendment Agreement to Global Contribution Agreement by and among Mondel'z International Holdings LLC Acorn Holdings B.V. Jacobs Douwe Egberts B.V. (formerly Charger Top HoldCo B.V.) and Jacobs Douwe Egberts International B.V. (formerly Charger OpCo B.V.) dated July 28 2015 (incorporated by reference to Exhibit 10.3 to the Registrant's Quarterly Report on Form 10-Q filed with the SEC on July 31 2015).*\n10.7\tInvestor Rights Agreement between Acorn Holdings B.V. Mondelez Coffee HoldCo B.V. and JDE Peet's B.V. dated May 25 2020 (incorporated by reference to Exhibit 10.1 to the Registrant's Current Report on Form 8-K filed with the SEC on June 2 2020).\n10.8\tLetter Agreement between Mondelez Coffee HoldCo B.V. Acorn Holdings B.V. Delta Charger HoldCo B.V. JDE Minority Holdings B.V. and JACOBS DOUWE EGBERTS B.V. dated May 30 2020 (incorporated by reference to Exhibit 10.2 to the Registrant's Current Report on Form 8-K filed with the SEC on June 2 2020).\n10.9\tInvestor Rights Agreement by and among Keurig Dr Pepper Inc. Maple Holdings B.V. and Mondel'z International Holdings LLC dated July 9 2018 (incorporated by reference to Exhibit 10.1 to the Registrant's Current Report on Form 8-K filed with the SEC on July 10 2018).\n10.10\tSettlement Agreement between the Registrant and Kraft Foods Group Inc. dated June 22 2015 (incorporated by reference to Exhibit 10.2 to the Registrant's Quarterly Report on Form 10-Q filed with the SEC on July 31 2015).\n10.11\tMondel'z International Inc. Amended and Restated 2005 Performance Incentive Plan amended and restated as of February 3 2017 (incorporated by reference to Exhibit 10.2 to the Registrant's Quarterly Report on Form 10-Q filed with the SEC on May 3 2017).+\n10.12\tForm of Mondel'z International Inc. Amended and Restated 2005 Performance Incentive Plan Non-Qualified Global Stock Option Agreement (incorporated by reference to Exhibit 10.2 to the Registrant's Quarterly Report on Form 10-Q filed with the SEC on May 2 2018).+\n10.13\tForm of Mondel'z International Inc. Amended and Restated 2005 Performance Incentive Plan Non-Qualified Global Stock Option Agreement (incorporated by reference to Exhibit 10.3 to the Registrant's Quarterly Report on Form 10-Q filed with the SEC on May 1 2019).+\n10.14\tForm of Mondel'z International Inc. Amended and Restated 2005 Performance Incentive Plan Non-Qualified Global Stock Option Agreement (incorporated by reference to Exhibit 10.4 to the Registrant's Quarterly Report on Form 10-Q filed with the SEC on April 29 2020).+\n10.15\tForm of Mondel'z International Inc. Amended and Restated 2005 Performance Incentive Plan Global Long-Term Incentive Grant Agreement (incorporated by reference to Exhibit 10.3 to the Registrant's Quarterly Report on Form 10-Q filed with the SEC on May 2 2018).+\n10.16\tForm of Mondel'z International Inc. Amended and Restated 2005 Performance Incentive Plan Global Long-Term Incentive Grant Agreement (incorporated by reference to Exhibit 10.4 to the Registrant's Quarterly Report on Form 10-Q filed with the SEC on May 1 2019).+\n10.17\tForm of Mondel'z International Inc. Amended and Restated 2005 Performance Incentive Plan Global Long-Term Incentive Grant Agreement (incorporated by reference to Exhibit 10.5 to the Registrant's Quarterly Report on Form 10-Q filed with the SEC on April 29 2020).+\n10.18\tForm of Mondel'z International Inc. Amended and Restated 2005 Performance Incentive Plan Global Deferred Stock Unit Agreement (incorporated by reference to Exhibit 10.4 to the Registrant's Quarterly Report on Form 10-Q filed with the SEC on May 2 2018).+\n10.19\tForm of Mondel'z International Inc. Amended and Restated 2005 Performance Incentive Plan Global Deferred Stock Unit Agreement (incorporated by reference to Exhibit 10.5 to the Registrant's Quarterly Report on Form 10-Q filed with the SEC on May 1 2019).+\n10.20\tForm of Mondel'z International Inc. Amended and Restated 2005 Performance Incentive Plan Global Deferred Stock Unit Agreement (incorporated by reference to Exhibit 10.6 to the Registrant's Quarterly Report on Form 10-Q filed with the SEC on April 29 2020).+\n10.21\tMondel'z Global LLC Supplemental Benefits Plan I effective as of September 1 2012 (incorporated by reference to Exhibit 10.10 to the Registrant's Annual Report on Form 10-K filed with the SEC on February 25 2013).+\n10.22\tFirst Amendment to the Mondel'z Global LLC Supplemental Benefits Plan I dated December 20 2016 (incorporated by reference to Exhibit 10.26 to the Registrant's Annual Report on Form 10-K filed with the SEC on February 8 2019).+\n10.23\tMondel'z Global LLC Supplemental Benefits Plan II effective as of September 1 2012 (incorporated by reference to Exhibit 10.11 to the Registrant's Annual Report on Form 10-K filed with the SEC on February 25 2013).+\n", "q10k_tbl_125": "10.24\tFirst Amendment to the Mondel'z Global LLC Supplemental Benefits Plan II dated December 20 2016 (incorporated by reference to Exhibit 10.28 to the Registrant's Annual Report on Form 10-K filed with the SEC on February 8 2019).+\n10.25\tForm of Mondel'z Global LLC Amended and Restated Cash Enrollment Agreement (incorporated by reference to Exhibit 10.12 to the Registrant's Annual Report on Form 10-K filed with the SEC on February 25 2013).+\n10.26\tForm of Mondel'z Global LLC Amended and Restated Employee Grantor Trust Enrollment Agreement (incorporated by reference to Exhibit 10.13 to the Registrant's Annual Report on Form 10-K filed with the SEC on February 25 2013).+\n10.27\tMondel'z International Inc. Amended and Restated 2006 Stock Compensation Plan for Non-Employee Directors amended and restated as of October 1 2012 (incorporated by reference to Exhibit 10.14 to the Registrant's Annual Report on Form 10-K filed with the SEC on February 25 2013).+\n10.28\tMondel'z International Inc. 2001 Compensation Plan for Non-Employee Directors amended as of December 31 2008 and restated as of January 1 2013 (incorporated by reference to Exhibit 10.15 to the Registrant's Annual Report on Form 10-K filed with the SEC on February 25 2013).+\n10.29\tMondel'z International Inc. Change in Control Plan for Key Executives amended May 14 2019 (incorporated by reference to Exhibit 10.2 to the Registrant's Quarterly Report on Form 10-Q filed with the SEC on July 31 2019).+\n10.30\tMondel'z Global LLC Executive Deferred Compensation Plan effective as of October 1 2012 (incorporated by reference to Exhibit 10.17 to the Registrant's Annual Report on Form 10-K filed with the SEC on February 25 2013).+\n10.31\tMondel'z Global LLC Executive Deferred Compensation Plan Adoption Agreement effective as of October 1 2012 (incorporated by reference to Exhibit 10.18 to the Registrant's Annual Report on Form 10-K filed with the SEC on February 25 2013).+\n10.32\tDeferred Compensation Plan Trust Document by and between Mondel'z Global LLC and Wilmington Trust Retirement and Institutional Services Company dated as of September 18 2012 (incorporated by reference to Exhibit 10.19 to the Registrant's Annual Report on Form 10-K filed with the SEC on February 25 2013).+\n10.33\tOffer of Employment Letter between the Registrant and Dirk Van de Put dated July 27 2017 (incorporated by reference to Exhibit 10.1 to the Registrant's Current Report on Form 8-K filed with the SEC on August 2 2017).+\n10.34\tOffer of Employment Letter between Mondel'z Global LLC and Glen Walter dated October 15 2017 (incorporated by reference to Exhibit 10.31 to the Registrant's Annual Report on Form 10-K filed with the SEC on February 9 2018).+\n10.35\tEmployment Letter between Mondel'z Global LLC and Gerhard Pleuhs dated August 23 2016 (incorporated by reference to Exhibit 10.5 to the Registrant's Quarterly Report on Form 10-Q filed with the SEC on July 26 2018).+\n10.36\tOffer of Employment Letter between Mondel'z Global LLC and Paulette Alviti dated April 12 2018 (incorporated by reference to Exhibit 10.6 to the Registrant's Quarterly Report on Form 10-Q filed with the SEC on July 26 2018).+\n10.37\tInternational Permanent Transfer Letter between Mondel'z Global LLC and Luca Zaramella effective August 1 2018 (incorporated by reference to Exhibit 10.1 to the Registrant's Current Report on Form 8-K filed with the SEC on August 7 2018).+\n10.38\tEmployment Letter between Mondelez Europe and Vinzenz P. Gruber dated November 29 2018 (incorporated by reference to Exhibit 10.6 to the Registrant's Quarterly Report on Form 10-Q filed with the SEC on May 1 2019).+\n10.39\tOffer of Employment Letter between Mondel'z Global LLC and Sandra MacQuillan dated April 23 2019 (incorporated by reference to Exhibit 10.1 to the Registrant's Quarterly Report on Form 10-Q filed with the SEC on July 31 2019).+\n10.40\tOffer of Employment Letter between the Registrant and Gustavo Valle dated January 6 2020 (incorporated by reference to Exhibit 10.7 to the Registrant's Quarterly Report on Form 10-Q filed with the SEC on April 29 2020).+\n10.41\tOffer of Employment Letter between Mondel'z Global LLC and Laura Stein dated November 9 2020.+\n10.42\tForm of Indemnification Agreement for Non-Employee Directors (incorporated by reference to Exhibit 10.28 to the Registrant's Annual Report on Form 10-K filed with the SEC on February 27 2009).+\n10.43\tIndemnification Agreement between the Registrant and Irene B. Rosenfeld dated January 27 2009 (incorporated by reference to Exhibit 10.1 to the Registrant's Current Report on Form 8-K filed with the SEC on February 2 2009).+\n", "q10k_tbl_126": "10.44\tIndemnification Agreement between the Registrant and Dirk Van de Put dated November 20 2017 (incorporated by reference to Exhibit 10.37 to the Registrant's Annual Report on Form 10-K filed with the SEC on February 9 2018).+\n21.1\tSubsidiaries of the Registrant.\n23.1\tConsent of PricewaterhouseCoopers LLP Independent Registered Public Accounting Firm.\n31.1\tCertification of the Registrant's Chief Executive Officer pursuant to Rule 13a-14(a)/15d-14(a) of the Securities Exchange Act of 1934 as amended as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.\n31.2\tCertification of the Registrant's Chief Financial Officer pursuant to Rule 13a-14(a)/15d-14(a) of the Securities Exchange Act of 1934 as amended as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.\n32.1\tCertifications of the Registrant's Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.\n101\tThe following materials from Mondel'z International's Annual Report on Form 10-K for the fiscal year ended December 31 2020 formatted in iXBRL (Inline eXtensible Business Reporting Language): (i) the Consolidated Statements of Earnings (ii) the Consolidated Statements of Comprehensive Earnings (iii) the Consolidated Balance Sheets (iv) the Consolidated Statements of Equity (v) the Consolidated Statements of Cash Flows and (vi) Notes to Consolidated Financial Statements.\n104\tThe cover page from Mondel'z International's Annual Report on Form 10-K for the fiscal year ended December 31 2020 formatted in Inline XBRL (included as Exhibit 101).\n", "q10k_tbl_127": "Signature\tTitle\tDate\n/s/ DIRK VAN DE PUT\tDirector Chairman and Chief Executive Officer\tFebruary 5 2021\n(Dirk Van de Put)\t\n/s/ LUCA ZARAMELLA\tExecutive Vice President and Chief Financial Officer\tFebruary 5 2021\n(Luca Zaramella)\t\n/s/ NELSON URDANETA\tSenior Vice President Corporate Controller and Chief Accounting Officer\tFebruary 5 2021\n(Nelson Urdaneta)\t\n/s/ LEWIS W.K. BOOTH\tDirector\tFebruary 5 2021\n(Lewis W.K. Booth)\t\t\n/s/ CHARLES E. BUNCH\tDirector\tFebruary 5 2021\n(Charles E. Bunch)\t\t\n/s/ DEBRA A. CREW\tDirector\tFebruary 5 2021\n(Debra A. Crew)\t\t\n/s/ LOIS D. JULIBER\tDirector\tFebruary 5 2021\n(Lois D. Juliber)\t\t\n/s/ PETER W. MAY\tDirector\tFebruary 5 2021\n(Peter W. May)\t\t\n/s/ JORGE S. MESQUITA\tDirector\tFebruary 5 2021\n(Jorge S. Mesquita)\t\t\n/s/ FREDRIC G. REYNOLDS\tDirector\tFebruary 5 2021\n(Fredric G. Reynolds)\t\t\n/s/ CHRISTIANA S. SHI\tDirector\tFebruary 5 2021\n(Christiana S. Shi)\t\t\n/s/ PATRICK T. SIEWERT\tDirector\tFebruary 5 2021\n(Patrick T. Siewert)\t\t\n/s/ MICHAEL A. TODMAN\tDirector\tFebruary 5 2021\n(Michael A. Todman)\t\t\n/s/ JEAN-FRANÇOIS M. L. VAN BOXMEER\tDirector\tFebruary 5 2021\n(Jean-François M. L. van Boxmeer)\t\t\n", "q10k_tbl_128": "Col. A\tCol. B\tCol. C\t\tCol. D\tCol. E\n\t\tAdditions\t\t\t\nDescription\tBalance at Beginning of Period\tCharged to Costs and Expenses\tCharged to Other Accounts\tDeductions\tBalance at End of Period\n\t\t\t(a)\t(b)\t\n2020:\t\t\t\t\t\nAllowance for trade receivables\t35\t10\t(1)\t2\t42\nAllowance for other current receivables\t44\t1\t(1)\t2\t42\nAllowance for long-term receivables\t14\t1\t(3)\t0\t12\nValuation allowance for deferred taxes\t1243\t119\t24\t109\t1277\n\t1336\t131\t19\t113\t1373\n2019:\t\t\t\t\t\nAllowance for trade receivables\t40\t2\t(4)\t3\t35\nAllowance for other current receivables\t47\t(1)\t1\t3\t44\nAllowance for long-term receivables\t24\t0\t0\t10\t14\nValuation allowance for deferred taxes\t1153\t349\t1\t260\t1243\n\t1264\t350\t(2)\t276\t1336\n2018:\t\t\t\t\t\nAllowance for trade receivables\t50\t3\t(6)\t7\t40\nAllowance for other current receivables\t98\t(10)\t(24)\t17\t47\nAllowance for long-term receivables\t21\t0\t3\t0\t24\nValuation allowance for deferred taxes\t853\t409\t4\t113\t1153\n\t1022\t402\t(23)\t137\t1264\n"}{"bs": "q10k_tbl_35", "is": "q10k_tbl_33", "cf": "q10k_tbl_37"}None
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 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
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
Securities registered pursuant to Section 12(b) of the Act:
Title 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
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
Securities registered pursuant to Section 12(g) of the Act: None
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yesx No ¨
Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ¨Nox
Note: Checking the box above will not relieve any registrant required to file reports pursuant to Section 13 or 15(d) of the Exchange Act from their obligations under those Sections.
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. Yesx 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). Yesx 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 has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☒
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No x
The aggregate market value of the shares of Class A Common Stock held by non-affiliates of the registrant, computed by reference to the closing price of such stock on June 30, 2020, was $72.2 billion. At January 29, 2021, there were 1,412,114,559 shares of the registrant’s Class A Common Stock outstanding.
Documents Incorporated by Reference
Portions of the registrant’s definitive proxy statement to be filed with the Securities and Exchange Commission in connection with its annual meeting of shareholders expected to be held on May 19, 2021 are incorporated by reference into Part III hereof.
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.
This report contains a number of forward-looking statements. Words, and variations of words, such as “will,” “may,” “expect,” “would,” “could,” “might,” “plan,” “believe,” “estimate,” “anticipate,” “likely,” “drive,” “seek,” “aim,” “potential,” “project,” “objective,” “commitment,” “outlook” and similar expressions are intended to identify our forward-looking statements, including but not limited to statements about: the impact of the COVID-19 outbreak on consumer demand, costs, product mix, the availability of our products, our strategic initiatives, our and our partners’ global supply chains, operations and routes to market, and our financial results; our future performance, including our future revenue growth, profitability and earnings growth; our strategy to accelerate consumer-centric growth, drive operational excellence and create a winning growth culture; our leadership position in snacking; our ability to meet consumer needs and demand and identify innovation and renovation opportunities; the results of driving operational excellence; volatility in global consumer, commodity, currency and capital markets; price volatility and pricing actions; the cost environment and measures to address increased costs; our tax rate, tax positions, tax proceedings, transition tax liability and the impact of U.S. and Swiss tax reform on our future results; market share; the United Kingdom ("U.K.") withdrawal from the European Union ("E.U.") and its impact on our business and results, including in connection with disagreements on trade terms, increased costs or supply chain or distribution delays, or other disruptions or negative impacts; the costs of, timing of expenditures under and completion of our restructuring program; category growth; our effect on demand and our market position; consumer snacking behaviors; commodity prices and supply; our investments; research, development and innovation; political, business and economic conditions and volatility; the effect of the imposition of increased or new tariffs, quotas, trade barriers or similar restrictions on our sales or key commodities and potential changes in U.S. trade programs, trade relations, regulations, taxes or fiscal policies; currency exchange rates, controls and restrictions, volatility in foreign currencies and the effect of currency translation on our results of operations; the application of highly inflationary accounting for our Argentinean subsidiaries and the potential for and impacts from currency devaluation in other countries; our e-commerce channel strategies; manufacturing and distribution capacity; changes in laws and regulations, regulatory compliance and related costs; the outcome and effects on us of legal proceedings and government investigations; the estimated value of goodwill and intangible assets; amortization expense for intangible assets; impairment of goodwill and intangible assets and our projections of operating results and other factors that may affect our impairment testing; our accounting estimates and judgments and the impact of new accounting pronouncements; pension obligations, expenses, contributions and assumptions; employee benefit plan expenses, obligations and assumptions; compensation expense; our human capital initiatives; our sustainability and mindful snacking strategies, goals and initiatives and the impacts of climate change; our ability to prevent and respond to cybersecurity breaches and disruptions; our liquidity, funding sources and uses of funding, including debt issuances and our use of commercial paper; our capital structure and liquidity, credit availability and our ability to raise capital, and the impact of market disruptions on us, our counterparties and our business partners; the planned phase out of London Interbank Offered Rates; our risk management program, including the use of financial instruments and the impacts and effectiveness of our hedging activities; working capital; capital expenditures and funding; funding of debt maturities; share repurchases; dividends; long-term value for our shareholders; guarantees; compliance with our debt covenants; and our contractual and other obligations.
These forward-looking statements involve risks and uncertainties, many of which are beyond our control, and many of these risks and uncertainties are currently amplified by and may continue to be amplified by the COVID-19 outbreak. Important factors that could cause our actual results to differ materially from those described in our forward-looking statements include, but are not limited to, uncertainty about the magnitude, duration, geographic reach, impact on the global economy and related current and potential travel restrictions of the COVID-19 outbreak; the current, and uncertain future, impact of the COVID-19 outbreak on our business, growth, reputation, prospects, financial condition, operating results (including components of our financial results), cash flows and liquidity; risks from operating globally including in emerging markets; changes in currency exchange rates, controls and restrictions; volatility of commodity and other input costs; weakness in economic conditions; weakness in consumer spending; pricing actions; tax matters including changes in tax laws and rates, disagreements with taxing authorities and imposition of new taxes; use of information technology and third party service providers; unanticipated disruptions to our business, such as the malware incident, cyberattacks or other security breaches; global or regional health pandemics or epidemics, including COVID-19; competition; protection of our reputation and brand image; changes in consumer preferences and demand and our ability to innovate and differentiate our products; the restructuring program and our other transformation initiatives not yielding the anticipated benefits; changes in the assumptions on which the restructuring program is based; management of our workforce; consolidation of retail customers and competition with retailer and other economy brands; changes in our relationships with customers, suppliers or distributors; legal, regulatory, tax or benefit law changes, claims or actions; the impact of climate change on our supply chain and operations; strategic transactions; significant changes in valuation factors that may adversely affect our impairment testing of goodwill and intangible assets; perceived or actual product quality issues or product recalls; failure to maintain effective internal control over financial reporting; volatility of and access to capital or other markets and our liquidity; pension costs; the expected discontinuance of London Interbank Offered Rates and transition to any other interest rate benchmark; and our ability to protect our intellectual property and intangible assets. We disclaim and do not undertake any obligation to update or revise any forward-looking statement in this report except as required by applicable law or regulation.
We are one of the world’s largest snack companies with global net revenues of $26.6 billion and net earnings of $3.6 billion in 2020. We make and sell primarily snacks, including biscuits (cookies, crackers and salted snacks), chocolate, gum & candy, as well as various cheese & grocery and powdered beverage products. Our portfolio includes snack brands such as Cadbury, Milka and Toblerone chocolate; Oreo, belVita and LU biscuits; Halls candy; Trident gum and Tang powdered beverages.
Mondelēz International at a Glance
Strategy
We aim to be the global leader in snacking by focusing on growth, execution and culture. In 2020, while the COVID-19 pandemic significantly affected economies, marketplaces, communities and businesses around the world, including ours, we prioritized our employees, customers and communities and largely continued to execute against our strategic priorities and positioned ourselves to emerge stronger. Please refer to our COVID-19 discussion in Management’s Discussion and Analysis of Financial Condition and Results of Operations. Our strategic plan builds on our strong foundations, including our unique portfolio of iconic global and local brands, our attractive global footprint, our market leadership in developed and emerging markets, our deep innovation, marketing and distribution capabilities, and our margin expansion in recent years that allows us to make ongoing investments in our brands and capabilities.
Our plan to drive long-term growth includes three strategic priorities: accelerating consumer-centric growth, driving operational excellence and creating a winning growth culture.
•Accelerate consumer-centric growth. As demands on consumers’ time increase and consumer eating habits evolve, we aim to meet consumers' snacking needs by providing the right snack, for the right moment, made the right way. We have developed innovative approaches to identify and address how consumers snack across different emotional and functional needs and occasions that we believe will allow us to meet their needs and identify new innovation and renovation opportunities. We plan to test, learn and scale new product offerings quickly to meet diverse and evolving local and global snacking demand. We believe our understanding of consumers’ behavior will continue to lead to our meeting more of their needs and the growing demand for snacks.
•Drive operational excellence. Our operational excellence and continuous improvement plans include a special focus on the consumer-facing areas of our business and optimizing our sales, marketing and customer service efforts. To drive productivity gains and cost improvements across our business, we also plan to continue leveraging our global shared services platform, driving greater efficiencies in our supply
chain and continuing to utilize Zero-Based Budgeting across our operations. We expect the improvements and efficiencies we drive will fuel our growth and continue to expand profit dollars. At the same time, we are continuing our efforts to sustainably source key ingredients, reduce our end-to-end environmental impact and innovate our processes and packaging to reduce waste and promote recycling.
•Build a winning growth culture. To support the acceleration of our growth, we are becoming more agile, digital and local-consumer focused. We are giving our local teams more autonomy to drive commercial and innovation plans as they are closer to the needs and desires of consumers. We will continue to leverage the efficiency and scale of our regional operating units while empowering our local commercial operations to respond faster to changing consumer preferences and capitalize on growth opportunities. Our digital transformation program will also help to enable consumer demand and sales opportunities. We believe these operating and cultural shifts will help drive profitable top-line growth.
We run our business with a long-term perspective, and we believe the successful delivery of our strategic plan will drive top- and bottom-line growth and enable us to create long-term value for our shareholders.
Global Operations
We sell our products in over 150 countries and have operations in approximately 80 countries, including 133 manufacturing and processing facilities across 45 countries. The portion of our net revenues generated outside the United States was 73.2% in 2020, 74.4% in 2019 and 75.3% in 2018. For more information on our U.S. and non-U.S. operations, refer to Note 18, Segment Reporting; on our manufacturing and other facilities, refer to Item 2, Properties; and risks related to our operations outside the United States, see Item 1A, Risk Factors.
We also monitor our revenue growth across emerging and developed markets—
•Our emerging markets include our Latin America region in its entirety; the Asia, Middle East and Africa (“AMEA”) region, excluding Australia, New Zealand and Japan; and the following countries from the Europe region: Russia, Ukraine, Turkey, Kazakhstan, Georgia, Poland, Czech Republic, Slovak Republic, Hungary, Bulgaria, Romania, the Baltics and the East Adriatic countries.
•Our developed markets include the entire North America region, the Europe region excluding the countries included in the emerging markets definition, and Australia, New Zealand and Japan from the AMEA region.
Operating Segments
Our operations and management structure are organized into four operating segments:
•Latin America
•AMEA
•Europe
•North America
We manage our operations by region to leverage regional operating scale, manage different and changing business environments more effectively and pursue growth opportunities as they arise across our key markets. Our regional management teams have responsibility for the business, product categories and financial results in the regions.
We use segment operating income to evaluate segment performance and allocate resources. We believe it is appropriate to disclose this measure to help investors analyze segment performance and trends. For a definition and reconciliation of segment operating income to consolidated pre-tax earnings as well as other information on our segments, see Note 18, Segment Reporting.
Our segment net revenues for each of the last three years were:
For the Years Ended December 31,
2020
2019
2018
(in millions)
Net revenues:
Latin America
$
2,477
$
3,018
$
3,202
AMEA
5,740
5,770
5,729
Europe
10,207
9,972
10,122
North America
8,157
7,108
6,885
$
26,581
$
25,868
$
25,938
Our segment operating income for each of the last three years was:
For the Years Ended December 31,
2020
2019
2018
(in millions, except percentages)
Segment operating income:
Latin America
$
189
4.3
%
$
341
8.1
%
$
410
11.1
%
AMEA
821
18.8
%
691
16.4
%
702
19.0
%
Europe
1,775
40.6
%
1,732
41.1
%
1,734
46.9
%
North America
1,587
36.3
%
1,451
34.4
%
849
23.0
%
$
4,372
100.0
%
$
4,215
100.0
%
$
3,695
100.0
%
Please see Management’sDiscussion and Analysis of Financial Conditionand Results of Operations for items affecting the comparability of results and a review of our operating results.
Product Categories
Our brands span five product categories:
•Biscuits (including cookies, crackers and salted snacks)
•Chocolate
•Gum & candy
•Beverages
•Cheese & grocery
During 2020, our segments contributed to our net revenues in the following product categories: