Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2017

Net Revenues and Earnings by Segment

Our segment net revenues and earnings, revised to reflect our new segment structure, were:

	For the Three Months Ended
	March 31,
	2017		2016
	(in millions)
Net revenues:
Latin America	$	910	$	817
AMEA		1,491		1,515
Europe		2,365		2,448
North America		1,648		1,675
Net revenues	$	6,414	$	6,455

Reconciliation of Operating Profit (Loss) from Segments to Consolidated

Our segment net revenues and earnings, revised to reflect our new segment structure in all periods, were:

	For the Three Months Ended
	March 31,
	2017			2016
	(in millions)
Earnings before income taxes:
Operating income:
Latin America	$	111		$	67
AMEA		181			190
Europe		409			352
North America		292			271
Unrealized losses on hedging activities (mark-to-market impacts)		(51	)		(54	)
General corporate expenses		(58	)		(60	)
Amortization of intangibles		(44	)		(44	)
Operating income		840			722
Interest and other expense, net		(119	)		(244	)
Earnings before income taxes	$	721		$	478

Net Revenues by Consumer Sector

Net revenues by product category, revised to reflect our new segment structure, were:

	For the Three Months Ended March 31, 2017
	Latin America		AMEA		Europe		North America		Total
	(in millions)
Biscuits	$	170	$	399	$	651	$	1,333	$	2,553
Chocolate		259		515		1,223		70		2,067
Gum & Candy		213		229		193		245		880
Beverages		193		173		41		–		407
Cheese & Grocery		75		175		257		–		507
Total net revenues	$	910	$	1,491	$	2,365	$	1,648	$	6,414
	For the Three Months Ended March 31, 2016
	Latin America		AMEA		Europe		North America		Total
	(in millions)
Biscuits	$	164	$	407	$	643	$	1,361	$	2,575
Chocolate		198		493		1,263		45		1,999
Gum & Candy		216		256		216		269		957
Beverages		164		177		48		–		389
Cheese & Grocery		75		182		278		–		535
Total net revenues	$	817	$	1,515	$	2,448	$	1,675	$	6,455