EX-99.1

EX-99.1 2 d637939dex991.htm EX-99.1 EX-99.1

Exhibit 99.1

U.S. GAAP to Non-GAAP Reconciliations

In addition to reporting our U.S. GAAP operating results, we have historically reported non-GAAP financial information. Refer also to our Quarterly Reports on Form 10-Q and our Annual Report on Form 10-K for the periods presented for additional information on our GAAP to non-GAAP adjustments.

Schedule 1.1

Mondelēz International, Inc. and Subsidiaries

Condensed Consolidated Statements of Earnings

(in millions of U.S. dollars and shares, except per share data)

(Unaudited)


	For the Six Months Ended June 30, 2018

	As Reported			Remove current period Keurig results			Add prior period Keurig results		Net change in taxes			As Revised

Net revenues	$	12,877										$	12,877
Cost of sales		7,488											7,488

Gross profit		5,389											5,389
Gross profit margin		41.8%											41.8%

Selling, general and administrative expenses		3,431											3,431
Asset impairment and exit costs		165											165
Amortization of intangibles		88											88


Operating income		1,705											1,705
Operating income margin		13.2%											13.2%

Benefit plan non-service income		(28	)										(28	)
Interest and other expense, net		328											328

Earnings before income taxes		1,405											1,405

Provision for income taxes		(321	)						$	(31	)		(352	)
Effective tax rate		22.8%											25.1%
Equity method investment net earnings		185		$	(36	)	$	170					319


Net earnings		1,269			(36	)		170		(31	)		1,372
Noncontrolling interest earnings		(8	)										(8	)

Net earnings attributable to Mondelēz International	$	1,261		$	(36	)	$	170	$	(31	)	$	1,364


Per share data:
Basic earnings per share attributable to Mondelēz International	$	0.85										$	0.92


Diluted earnings per share attributable to Mondelēz International	$	0.84										$	0.91


Average shares outstanding:
Basic		1,482											1,482
Diluted		1,496											1,496

Schedule 1.2

Mondelēz International, Inc. and Subsidiaries

Condensed Consolidated Statements of Earnings

(in millions of U.S. dollars and shares, except per share data)

(Unaudited)


	For the Three Months Ended June 30, 2018

	As Reported			Remove current period Keurig results			Add prior period Keurig results		Net change in taxes			As Revised

Net revenues	$	6,112										$	6,112
Cost of sales		3,572											3,572

Gross profit		2,540											2,540
Gross profit margin		41.6%											41.6%

Selling, general and administrative expenses		1,904											1,904
Asset impairment and exit costs		111											111
Amortization of intangibles		44											44


Operating income		481											481
Operating income margin		7.9%											7.9%

Benefit plan non-service income		(15	)										(15	)
Interest and other expense, net		248											248

Earnings before income taxes		248											248

Provision for income taxes		(14	)						$	(1	)		(15	)
Effective tax rate		5.6%											6.0%
Equity method investment net earnings		91		$	(20	)	$	16					87


Net earnings		325			(20	)		16		(1	)		320
Noncontrolling interest earnings		(2	)										(2	)

Net earnings attributable to Mondelēz International	$	323		$	(20	)	$	16	$	(1	)	$	318


Per share data:
Basic earnings per share attributable to Mondelēz International	$	0.22										$	0.22


Diluted earnings per share attributable to Mondelēz International	$	0.22										$	0.21


Average shares outstanding:
Basic		1,475											1,475
Diluted		1,488											1,488

Schedule 1.3

Mondelēz International, Inc. and Subsidiaries

Condensed Consolidated Statements of Earnings

(in millions of U.S. dollars and shares, except per share data)

(Unaudited)


	For the Three Months Ended March 31, 2018

	As Reported			Remove current period Keurig results			Add prior period Keurig results		Net change in taxes			As Revised

Net revenues	$	6,765										$	6,765
Cost of sales		3,916											3,916

Gross profit		2,849											2,849
Gross profit margin		42.1%											42.1%

Selling, general and administrative expenses		1,527											1,527
Asset impairment and exit costs		54											54
Amortization of intangibles		44											44


Operating income		1,224											1,224
Operating income margin		18.1%											18.1%

Benefit plan non-service income		(13	)										(13	)
Interest and other expense, net		80											80

Earnings before income taxes		1,157											1,157

Provision for income taxes		(307	)						$	(30	)		(337	)
Effective tax rate		26.5%											29.1%
Equity method investment net earnings		94		$	(16	)	$	154					232


Net earnings		944			(16	)		154		(30	)		1,052
Noncontrolling interest earnings		(6	)										(6	)

Net earnings attributable to Mondelēz International	$	938		$	(16	)	$	154	$	(30	)	$	1,046


Per share data:
Basic earnings per share attributable to Mondelēz International	$	0.63										$	0.70


Diluted earnings per share attributable to Mondelēz International	$	0.62										$	0.70


Average shares outstanding:
Basic		1,489											1,489
Diluted		1,505											1,505

Schedule 1.4

Mondelēz International, Inc. and Subsidiaries

Condensed Consolidated Statements of Earnings

(in millions of U.S. dollars and shares, except per share data)

(Unaudited)


	For the Twelve Months Ended December 31, 2017

	As Reported			Remove current period Keurig results			Add prior period Keurig results		Net change in taxes		As Revised

Net revenues	$	25,896									$	25,896
Cost of sales		15,862										15,862

Gross profit		10,034										10,034
Gross profit margin		38.7%										38.7%

Selling, general and administrative expenses		5,938										5,938
Asset impairment and exit costs		642										642
(Gain)/loss on divestitures		(186	)									(186	)
Amortization of intangibles		178										178


Operating income		3,462										3,462
Operating income margin		13.4%										13.4%

Benefit plan non-service income		(44	)									(44	)
Interest and other expense, net		382										382

Earnings before income taxes		3,124										3,124

Provision for income taxes		(688	)						$	22		(666	)
Effective tax rate		22.0%										21.3%
Gain on equity method investment transactions		40										40
Equity method investment net earnings		460		$	(208	)	$	92				344


Net earnings		2,936			(208	)		92		22		2,842
Noncontrolling interest earnings		(14	)									(14	)

Net earnings attributable to Mondelēz International	$	2,922		$	(208	)	$	92	$	22	$	2,828


Per share data:
Basic earnings per share attributable to Mondelēz International	$	1.93									$	1.87


Diluted earnings per share attributable to Mondelēz International	$	1.91									$	1.85


Average shares outstanding:
Basic		1,513										1,513
Diluted		1,531										1,531

Schedule 1.5

Mondelēz International, Inc. and Subsidiaries

Condensed Consolidated Statements of Earnings

(in millions of U.S. dollars and shares, except per share data)

(Unaudited)


	For the Three Months Ended December 31, 2017

	As Reported			Remove current period Keurig results			Add prior period Keurig results		Net change in taxes		As Revised

Net revenues	$	6,966									$	6,966
Cost of sales		4,313										4,313

Gross profit		2,653										2,653
Gross profit margin		38.1%										38.1%

Selling, general and administrative expenses		1,662										1,662
Asset impairment and exit costs		118										118
(Gain)/loss on divestitures		(2	)									(2	)
Amortization of intangibles		45										45


Operating income		830										830
Operating income margin		11.9%										11.9%

Benefit plan non-service income		(14	)									(14	)
Interest and other expense, net		120										120

Earnings before income taxes		724										724

Provision for income taxes		(178	)						$	22		(156	)
Effective tax rate		24.6%										21.5%
Gain on equity method investment transactions		40										40
Equity method investment net earnings		224		$	(154	)	$	25				95


Net earnings		810			(154	)		25		22		703
Noncontrolling interest earnings		(8	)									(8	)

Net earnings attributable to Mondelēz International	$	802		$	(154	)	$	25	$	22	$	695


Per share data:
Basic earnings per share attributable to Mondelēz International	$	0.54									$	0.46


Diluted earnings per share attributable to Mondelēz International	$	0.53									$	0.46


Average shares outstanding:
Basic		1,497										1,497
Diluted		1,513										1,513

Schedule 1.6

Mondelēz International, Inc. and Subsidiaries

Condensed Consolidated Statements of Earnings

(in millions of U.S. dollars and shares, except per share data)

(Unaudited)


	For the Three Months Ended September 30, 2017

	As Reported			Remove current period Keurig results			Add prior period Keurig results		Net change in taxes		As Revised

Net revenues	$	6,530									$	6,530
Cost of sales		3,981										3,981

Gross profit		2,549										2,549
Gross profit margin		39.0%										39.0%

Selling, general and administrative expenses		1,338										1,338
Asset impairment and exit costs		182										182
(Gain)/loss on divestitures		(187	)									(187	)
Amortization of intangibles		45										45


Operating income		1,171										1,171
Operating income margin		17.9%										17.9%

Benefit plan non-service income		(10	)									(10	)
Interest and other expense, net		19										19

Earnings before income taxes		1,162										1,162

Provision for income taxes		(272	)						$	-		(272	)
Effective tax rate		23.4%										23.4%
Equity method investment net earnings		103		$	(25	)	$	14				92


Net earnings		993			(25	)		14		-		982
Noncontrolling interest earnings		(1	)									(1	)

Net earnings attributable to Mondelēz International	$	992		$	(25	)	$	14	$	-	$	981


Per share data:
Basic earnings per share attributable to Mondelēz International	$	0.66									$	0.65


Diluted earnings per share attributable to Mondelēz International	$	0.65									$	0.64


Average shares outstanding:
Basic		1,507										1,507
Diluted		1,524										1,524

Schedule 1.7

Mondelēz International, Inc. and Subsidiaries

Condensed Consolidated Statements of Earnings

(in millions of U.S. dollars and shares, except per share data)

(Unaudited)


	For the Three Months Ended June 30, 2017

	As Reported			Remove current period Keurig results			Add prior period Keurig results		Net change in taxes		As Revised

Net revenues	$	5,986									$	5,986
Cost of sales		3,672										3,672

Gross profit		2,314										2,314
Gross profit margin		38.7%										38.7%

Selling, general and administrative expenses		1,455										1,455
Asset impairment and exit costs		176										176
(Gain)/loss on divestitures		3										3
Amortization of intangibles		44										44


Operating income		636										636
Operating income margin		10.6%										10.6%

Benefit plan non-service income		(5	)									(5	)
Interest and other expense, net		124										124

Earnings before income taxes		517										517

Provision for income taxes		(84	)						$	-		(84	)
Effective tax rate		16.2%										16.2%
Equity method investment net earnings		67		$	(15	)	$	15				67


Net earnings		500			(15	)		15		-		500
Noncontrolling interest earnings		(2	)									(2	)

Net earnings attributable to Mondelēz International	$	498		$	(15	)	$	15	$	-	$	498


Per share data:
Basic earnings per share attributable to Mondelēz International	$	0.33									$	0.33


Diluted earnings per share attributable to Mondelēz International	$	0.32									$	0.32


Average shares outstanding:
Basic		1,519										1,519
Diluted		1,539										1,539

Schedule 1.8

Mondelēz International, Inc. and Subsidiaries

Condensed Consolidated Statements of Earnings

(in millions of U.S. dollars and shares, except per share data)

(Unaudited)


	For the Three Months Ended March 31, 2017

	As Reported			Remove current period Keurig results			Add prior period Keurig results		Net change in taxes		As Revised

Net revenues	$	6,414									$	6,414
Cost of sales		3,896										3,896

Gross profit		2,518										2,518
Gross profit margin		39.3%										39.3%

Selling, general and administrative expenses		1,483										1,483
Asset impairment and exit costs		166										166
Amortization of intangibles		44										44


Operating income		825										825
Operating income margin		12.9%										12.9%

Benefit plan non-service income		(15	)									(15	)
Interest and other expense, net		119										119

Earnings before income taxes		721										721

Provision for income taxes		(154	)						$	-		(154	)
Effective tax rate		21.4%										21.4%
Equity method investment net earnings		66		$	(14	)	$	38				90


Net earnings		633			(14	)		38		-		657
Noncontrolling interest earnings		(3	)									(3	)

Net earnings attributable to Mondelēz International	$	630		$	(14	)	$	38	$	-	$	654


Per share data:
Basic earnings per share attributable to Mondelēz International	$	0.41									$	0.43


Diluted earnings per share attributable to Mondelēz International	$	0.41									$	0.42


Average shares outstanding:
Basic		1,529										1,529
Diluted		1,550										1,550

Schedule 1.9

Mondelēz International, Inc. and Subsidiaries

Condensed Consolidated Statements of Earnings

(in millions of U.S. dollars and shares, except per share data)

(Unaudited)


	For the Twelve Months Ended December 31, 2016

	As Reported			Remove current period Keurig results			Add prior period Keurig results		Net change in taxes		As Revised

Net revenues	$	25,923									$	25,923
Cost of sales		15,819										15,819

Gross profit		10,104										10,104
Gross profit margin		39.0%										39.0%

Selling, general and administrative expenses		6,546										6,546
Asset impairment and exit costs		837										837
(Gain)/loss on divestitures		(9	)									(9	)
Amortization of intangibles		176										176


Operating income		2,554										2,554
Operating income margin		9.9%										9.9%

Benefit plan non-service income		(15	)									(15	)
Interest and other expense, net		1,115										1,115

Earnings before income taxes		1,454										1,454

Provision for income taxes		(129	)						$	15		(114	)
Effective tax rate		8.9%										7.8%
Gain on equity method investment transactions		43										43
Equity method investment net earnings		301		$	(77	)	$	38				262


Net earnings		1,669			(77	)		38		15		1,645
Noncontrolling interest earnings		(10	)									(10	)

Net earnings attributable to Mondelēz International	$	1,659		$	(77	)	$	38	$	15	$	1,635


Per share data:
Basic earnings per share attributable to Mondelēz International	$	1.07									$	1.05


Diluted earnings per share attributable to Mondelēz International	$	1.05									$	1.04


Average shares outstanding:
Basic		1,556										1,556
Diluted		1,573										1,573

Schedule 2.1

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Net Earnings and Tax Rate

(in millions of U.S. dollars and shares, except per share data)

(Unaudited)


	For the Six Months Ended June 30, 2018
	Operating Income			Benefit plan non- service expense / (income)			Interest and other expense, net			Earnings before income taxes			Income taxes ⁽¹⁾			Effective tax rate		Equity Method Investment Net Losses / (Earnings)			Non- controlling interest		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP) - As Revised	$	1,705		$	(28	)	$	328		$	1,405		$	352			25.1%	$	(319	)	$	8	$	1,364		$	0.91
2014-2018 Restructuring Program costs		293			(3	)		-			296			77					-			-		219			0.15
Mark-to-market (gains)/losses from derivatives		(294	)		-			-			(294	)		(39	)				-			-		(255	)		(0.17	)
Acquisition integration costs		3			-			-			3			-					-			-		3			-
Acquisition-related costs		13			-			-			13			3					-			-		10			0.01
Divestiture-related costs		(3	)		-			-			(3	)		(2	)				-			-		(1	)		-
Impact of pension participation changes		408			-			-			408			103					-			-		305			0.20
Impacts from resolution of tax matters		11			-			(4	)		15			15					-			-		-			-
CEO transition remuneration		14			-			-			14			3					-			-		11			0.01
(Gain)/loss related to interest rate swaps		-			-			9			(9	)		(2	)				-			-		(7	)		(0.01	)
Loss on debt extinguishment and related expenses		-			-			(140	)		140			35					-			-		105			0.07
U.S. tax reform discrete net tax (benefit)/expense		-			-			-			-			(87	)				-			-		87			0.06
Equity method investee acquisition-related and other adjustments		-			-			-			-			(26	)				106			-		(80	)		(0.05	)
Rounding		1			-			-			1			-					-			-		1			-

Adjusted (Non-GAAP) - As Revised	$	2,151		$	(31	)	$	193		$	1,989		$	432			21.7%	$	(213	)	$	8	$	1,762		$	1.18

Currency																								(83	)		(0.06	)

Adjusted @ Constant FX (Non-GAAP) - As Revised																							$	1,679		$	1.12


Diluted Average Shares Outstanding																											1,496

	For the Six Months Ended June 30, 2017
	Operating Income			Benefit plan non- service expense / (income)			Interest and other expense, net			Earnings before income taxes			Income taxes ⁽¹⁾			Effective tax rate		Equity Method Investment Net Losses / (Earnings)			Non- controlling interest		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP) - As Revised	$	1,461		$	(20	)	$	243		$	1,238		$	238			19.2%	$	(157	)	$	5	$	1,152		$	0.75
2014-2018 Restructuring Program costs		410			(12	)		-			422			106					-			-		316			0.21
Intangible asset impairment charges		38			-			-			38			14					-			-		24			0.02
Mark-to-market (gains)/losses from derivatives		97			-			-			97			3					-			-		94			0.06
Malware incident incremental expenses		7			-			-			7			2					-			-		5			-
Acquisition integration costs		1			-			-			1			-					-			-		1			-
Divestiture-related costs		23			-			(5	)		28			5					-			-		23			0.01
Net earnings from divestitures		(55	)		-			-			(55	)		(15	)				4			-		(44	)		(0.03	)
(Gain)/loss on divestitures		3			-			-			3			(4	)				-			-		7			-
Impacts from resolution of tax matters		(46	)		-			12			(58	)		-					-			-		(58	)		(0.04	)
Loss on debt extinguishment and related expenses		-			-			(11	)		11			4					-			-		7			0.01
Equity method investee acquisition-related and other adjustments		-			-			-			-			7					(45	)		-		38			0.02

Adjusted (Non-GAAP) - As Revised	$	1,939		$	(32	)	$	239		$	1,732		$	360			20.8%	$	(198	)	$	5	$	1,565		$	1.01


Diluted Average Shares Outstanding																											1,544

⁽¹⁾	Taxes were computed for each of the items excluded from the company’s GAAP results based on the facts and tax assumptions associated with each item.

Schedule 2.2

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Net Earnings and Tax Rate

(in millions of U.S. dollars and shares, except per share data)

(Unaudited)


	For the Three Months Ended June 30, 2018
	Operating Income			Benefit plan non- service expense / (income)			Interest and other expense, net			Earnings before income taxes			Income taxes ⁽¹⁾			Effective tax rate		Equity Method Investment Net Losses / (Earnings)			Non- controlling interest		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP) - As Revised	$	481		$	(15	)	$	248		$	248		$	15			6.0%	$	(87	)	$	2	$	318		$	0.21
2014-2018 Restructuring Program costs		179			(3	)		-			182			47					-			-		135			0.09
Mark-to-market (gains)/losses from derivatives		(88	)		-			-			(88	)		(14	)				-			-		(74	)		(0.05	)
Acquisition integration costs		2			-			-			2			-					-			-		2			-
Acquisition-related costs		13			-			-			13			3					-			-		10			0.01
Impact of pension participation changes		408			-			-			408			103					-			-		305			0.20
Impacts from resolution of tax matters		11			-			(4	)		15			15					-			-		-			-
CEO transition remuneration		10			-			-			10			2					-			-		8			0.01
(Gain)/loss related to interest rate swaps		-			-			(5	)		5			1					-			-		4			-
Loss on debt extinguishment and related expenses		-			-			(140	)		140			35					-			-		105			0.07
U.S. tax reform discrete net tax (benefit)/expense		-			-			-			-			2					-			-		(2	)		-
Equity method investee acquisition-related and other adjustments		-			-			-			-			1					(7	)		-		6			0.01
Rounding		2			-			-			2			-					-			-		2			-

Adjusted (Non-GAAP) - As Revised	$	1,018		$	(18	)	$	99		$	937		$	210			22.4%	$	(94	)	$	2	$	819		$	0.55

Currency																								(11	)		(0.01	)

Adjusted @ Constant FX (Non-GAAP) - As Revised																							$	808		$	0.54


Diluted Average Shares Outstanding																											1,488

	For the Three Months Ended June 30, 2017
	Operating Income			Benefit plan non- service expense / (income)			Interest and other expense, net			Earnings before income taxes			Income taxes ⁽¹⁾			Effective tax rate		Equity Method Investment Net Losses / (Earnings)			Non- controlling interest		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP) - As Revised	$	636		$	(5	)	$	124		$	517		$	84			16.2%	$	(67	)	$	2	$	498		$	0.32
2014-2018 Restructuring Program costs		199			(12	)		-			211			58					-			-		153			0.10
Intangible asset impairment charges		38			-			-			38			14					-			-		24			0.02
Mark-to-market (gains)/losses from derivatives		46			-			-			46			-					-			-		46			0.03
Malware incident incremental expenses		7			-			-			7			2					-			-		5			-
Divestiture-related costs		4			-			(5	)		9			2					-			-		7			-
Net earnings from divestitures		(28	)		-			-			(28	)		(8	)				2			-		(22	)		(0.01	)
(Gain)/loss on divestitures		3			-			-			3			(4	)				-			-		7			-
Loss on debt extinguishment and related expenses		-			-			(11	)		11			4					-			-		7			0.01
Equity method investee acquisition-related and other adjustments		-			-			-			-			4					(18	)		-		14			0.01
Rounding		1			-			-			1			-					-			-		1			-

Adjusted (Non-GAAP) - As Revised	$	906		$	(17	)	$	108		$	815		$	156			19.1%	$	(83	)	$	2	$	740		$	0.48


Diluted Average Shares Outstanding																											1,539

⁽¹⁾	Taxes were computed for each of the items excluded from the company’s GAAP results based on the facts and tax assumptions associated with each item.

Schedule 2.3

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Net Earnings and Tax Rate

(in millions of U.S. dollars and shares, except per share data)

(Unaudited)


	For the Three Months Ended March 31, 2018
	Operating Income			Benefit plan non- service expense / (income)			Interest and other expense, net		Earnings before income taxes			Income taxes ⁽¹⁾			Effective tax rate		Equity Method Investment Net Losses / (Earnings)			Non- controlling interest		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP) - As Revised	$	1,224		$	(13	)	$	80	$	1,157		$	337			29.1%	$	(232	)	$	6	$	1,046		$	0.70
2014-2018 Restructuring Program costs		114			-			-		114			30					-			-		84			0.06
Mark-to-market (gains)/losses from derivatives		(206	)		-			-		(206	)		(25	)				-			-		(181	)		(0.12	)
Acquisition integration costs		1			-			-		1			-					-			-		1			-
Divestiture-related costs		(3	)		-			-		(3	)		(2	)				-			-		(1	)		-
CEO transition remuneration		4			-			-		4			1					-			-		3			-
(Gain)/loss related to interest rate swaps		-			-			14		(14	)		(3	)				-			-		(11	)		(0.01	)
U.S. tax reform discrete net tax (benefit)/expense		-			-			-		-			(89	)				-			-		89			0.06
Equity method investee acquisition-related and other adjustments		-			-			-		-			(27	)				113			-		(86	)		(0.06	)
Rounding		(1	)		-			-		(1	)		-					-			-		(1	)		-

Adjusted (Non-GAAP) - As Revised	$	1,133		$	(13	)	$	94	$	1,052		$	222			21.1%	$	(119	)	$	6	$	943		$	0.63

Currency																							(72	)		(0.05	)

Adjusted @ Constant FX (Non-GAAP) - As Revised																						$	871		$	0.58


Diluted Average Shares Outstanding																										1,505

	For the Three Months Ended March 31, 2017
	Operating Income			Benefit plan non- service expense / (income)			Interest and other expense, net		Earnings before income taxes			Income taxes ⁽¹⁾			Effective tax rate		Equity Method Investment Net Losses / (Earnings)			Non- controlling interest		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP) - As Revised	$	825		$	(15	)	$	119	$	721		$	154			21.4%	$	(90	)	$	3	$	654		$	0.42
2014-2018 Restructuring Program costs		211			-			-		211			48					-			-		163			0.10
Mark-to-market (gains)/losses from derivatives		51			-			-		51			3					-			-		48			0.03
Acquisition integration costs		1			-			-		1			-					-			-		1			-
Divestiture-related costs		19			-			-		19			3					-			-		16			0.01
Net earnings from divestitures		(27	)		-			-		(27	)		(7	)				2			-		(22	)		(0.01	)
Impacts from resolution of tax matters		(46	)		-			12		(58	)		-					-			-		(58	)		(0.04	)
Equity method investee acquisition-related and other adjustments		-			-			-		-			3					(27	)		-		24			0.02
Rounding		(1	)		-			-		(1	)		-					-			-		(1	)		-

Adjusted (Non-GAAP) - As Revised	$	1,033		$	(15	)	$	131	$	917		$	204			22.2%	$	(115	)	$	3	$	825		$	0.53


Diluted Average Shares Outstanding																										1,550

⁽¹⁾	Taxes were computed for each of the items excluded from the company’s GAAP results based on the facts and tax assumptions associated with each item.

Schedule 2.4

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Net Earnings and Tax Rate

(in millions of U.S. dollars and shares, except per share data)

(Unaudited)


	For the Twelve Months Ended December 31, 2017

	Operating Income			Benefit plan non- service expense / (income)			Interest and other expense, net			Earnings before income taxes			Income taxes ⁽¹⁾			Effective tax rate		Equity Method Investment Net Losses / (Earnings)			Gain on Equity Method Investment Transactions			Non- controlling interest		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP) - As Revised	$	3,462		$	(44	)	$	382		$	3,124		$	666			21.3%	$	(344	)	$	(40	)	$	14	$	2,828		$	1.85
2014-2018 Restructuring Program costs		777			(15	)		-			792			190					-			-			-		602			0.39
Intangible asset impairment charges		109			-			-			109			30					-			-			-		79			0.05
Mark-to-market (gains)/losses from derivatives		96			-			-			96			6					-			-			-		90			0.06
Malware incident incremental expenses		84			-			-			84			27					-			-			-		57			0.04
Acquisition integration costs		3			-			-			3			-					-			-			-		3			-
Divestiture-related costs		31			-			(3	)		34			(8	)				-			-			-		42			0.02
Net earnings from divestitures		(61	)		-			-			(61	)		(15	)				6			-			-		(52	)		(0.03	)
(Gain)/loss on divestitures		(186	)		-			-			(186	)		(7	)				-			-			-		(179	)		(0.11	)
Impacts from resolution of tax matters		(209	)		-			72			(281	)		(75	)				-			-			-		(206	)		(0.13	)
CEO transition remuneration		14			-			-			14			5					-			-			-		9			0.01
Loss on debt extinguishment and related expenses		-			-			(11	)		11			4					-			-			-		7			-
U.S. tax reform discrete net tax (benefit)/expense		-			-			-			-			44					-			-			-		(44	)		(0.03	)
Gain on equity method investment transactions		-			-			-			-			(15	)				-			40			-		(25	)		(0.02	)
Equity method investee acquisition-related and other adjustments		-			-			-			-			10					(69	)		-			-		59			0.04
Rounding		(1	)		-			-			(1	)		-					-			-			-		(1	)		-

Adjusted (Non-GAAP) - As Revised	$	4,119		$	(59	)	$	440		$	3,738		$	862			23.1%	$	(407	)	$	-		$	14	$	3,269		$	2.14

Currency																											(15	)		(0.01	)

Adjusted @ Constant FX (Non-GAAP) - As Revised																										$	3,254		$	2.13


Diluted Average Shares Outstanding																														1,531

	For the Twelve Months Ended December 31, 2016
	Operating Income			Benefit plan non- service expense / (income)			Interest and other expense, net			Earnings before income taxes			Income taxes ⁽¹⁾			Effective tax rate		Equity Method Investment Net Losses / (Earnings)			Gain on Equity Method Investment Transactions			Non- controlling interest		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP) - As Revised	$	2,554		$	(15	)	$	1,115		$	1,454		$	114			7.8%	$	(262	)	$	(43	)	$	10	$	1,635		$	1.04
2014-2018 Restructuring Program costs		1,072			(14	)		-			1,086			288					-			-			-		798			0.51
Intangible asset impairment charges		137			-			-			137			37					-			-			-		100			0.06
Mark-to-market (gains)/losses from derivatives		94			-			-			94			11					-			-			-		83			0.05
Acquisition integration costs		7			-			-			7			-					-			-			-		7			0.01
Acquisition-related costs		1			-			-			1			-					-			-			-		1			-
Divestiture-related costs		86			-			-			86			15					-			-			-		71			0.05
Net earnings from divestitures		(153	)		-			-			(153	)		(40	)				12			-			-		(125	)		(0.08	)
(Gain)/loss on divestitures		(9	)		-			-			(9	)		-					-			-			-		(9	)		-
(Income)/costs associated with the JDE coffee business transactions		(2	)		-			-			(2	)		(3	)				-			-			-		1			-
(Gain)/loss on sale of intangible assets		(15	)		-			-			(15	)		(3	)				-			-			-		(12	)		(0.01	)
(Gain)/loss related to interest rate swaps		-			-			(97	)		97			36					-			-			-		61			0.04
Loss on debt extinguishment and related expenses		-			-			(427	)		427			163					-			-			-		264			0.17
Gain on equity method investment transactions		-			-			-			-			(2	)				-			43			-		(41	)		(0.03	)
Equity method investee acquisition-related and other adjustments		-			-			-			-			3					(60	)		-			-		57			0.03
Rounding		1			-			-			1			1					-			-			-		-			-

Adjusted (Non-GAAP) - As Revised	$	3,773		$	(29	)	$	591		$	3,211		$	620			19.3%	$	(310	)	$	-		$	10	$	2,891		$	1.84


Diluted Average Shares Outstanding																														1,573

⁽¹⁾	Taxes were computed for each of the items excluded from the company’s GAAP results based on the facts and tax assumptions associated with each item.

Schedule 2.5

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Net Earnings and Tax Rate

(in millions of U.S. dollars and shares, except per share data)

(Unaudited)


	For the Three Months Ended December 31, 2017

	Operating Income			Benefit plan non- service expense / (income)			Interest and other expense, net			Earnings before income taxes			Income taxes ⁽¹⁾			Effective tax rate		Equity Method Investment Net Losses / (Earnings)			Gain on Equity Method Investment Transactions			Non- controlling interest		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP) - As Revised	$	830		$	(14	)	$	120		$	724		$	156			21.5%	$	(95	)	$	(40	)	$	8	$	695		$	0.46
2014-2018 Restructuring Program costs		192			(3	)		-			195			35					-			-			-		160			0.11
Mark-to-market (gains)/losses from derivatives		27			-			-			27			6					-			-			-		21			0.01
Malware incident incremental expenses		30			-			-			30			10					-			-			-		20			0.01
Acquisition integration costs		1			-			-			1			-					-			-			-		1			-
Divestiture-related costs		9			-			-			9			5					-			-			-		4			-
Net earnings from divestitures		(1	)		-			-			(1	)		-					-			-			-		(1	)		-
(Gain)/loss on divestitures		(2	)		-			-			(2	)		5					-			-			-		(7	)		-
Impacts from resolution of tax matters		(8	)		-			-			(8	)		(3	)				-			-			-		(5	)		-
CEO transition remuneration		14			-			-			14			5					-			-			-		9			0.01
U.S. tax reform discrete net tax (benefit)/expense		-			-			-			-			44					-			-			-		(44	)		(0.03	)
Gain on equity method investment transactions		-			-			-			-			(15	)				-			40			-		(25	)		(0.02	)
Equity method investee acquisition-related and other adjustments		-			-			-			-			2					(21	)		-			-		19			0.01
Rounding		(1	)		-			-			(1	)		-					-			-			-		(1	)		-

Adjusted (Non-GAAP) - As Revised	$	1,091		$	(17	)	$	120		$	988		$	250			25.3%	$	(116	)	$	-		$	8	$	846		$	0.56

Currency																											(55	)		(0.04	)

Adjusted @ Constant FX (Non-GAAP) - As Revised																										$	791		$	0.52


Diluted Average Shares Outstanding																														1,513

	For the Three Months Ended December 31, 2016
	Operating Income			Benefit plan non- service expense / (income)			Interest and other expense, net			Earnings before income taxes			Income taxes ⁽¹⁾			Effective tax rate		Equity Method Investment Net Losses / (Earnings)			Gain on Equity Method Investment Transactions			Non- controlling interest		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP) - As Revised	$	505		$	(2	)	$	575		$	(68	)	$	(78	)		114.7%	$	(54	)	$	-		$	-	$	64		$	0.04
2014-2018 Restructuring Program costs		319			(1	)		-			320			89					-			-			-		231			0.15
Intangible asset impairment charges		107			-			-			107			28					-			-			-		79			0.05
Mark-to-market (gains)/losses from derivatives		45			-			-			45			5					-			-			-		40			0.03
Acquisition integration costs		1			-			-			1			-					-			-			-		1			-
Acquisition-related costs		1			-			-			1			-					-			-			-		1			-
Divestiture-related costs		2			-			-			2			(4	)				-			-			-		6			-
Net earnings from divestitures		(48	)		-			-			(48	)		(12	)				2			-			-		(38	)		(0.03	)
(Gain)/loss on divestitures		(9	)		-			-			(9	)		-					-			-			-		(9	)		-
(Gain)/loss on sale of intangible assets		(2	)		-			-			(2	)		(1	)				-			-			-		(1	)		-
(Gain)/loss related to interest rate swaps		-			-			-			-			1					-			-			-		(1	)		-
Loss on debt extinguishment and related expenses		-			-			(427	)		427			163					-			-			-		264			0.17
Equity method investee acquisition-related and other adjustments		-			-			-			-			1					(17	)		-			-		16			0.01
Rounding		1			-			-			1			1					-			-			-		-			-

Adjusted (Non-GAAP) - As Revised	$	922		$	(3	)	$	148		$	777		$	193			24.8%	$	(69	)	$	-		$	-	$	653		$	0.42


Diluted Average Shares Outstanding																														1,559

⁽¹⁾	Taxes were computed for each of the items excluded from the company’s GAAP results based on the facts and tax assumptions associated with each item.

Schedule 2.6

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Net Earnings and Tax Rate

(in millions of U.S. dollars and shares, except per share data)

(Unaudited)


	For the Three Months Ended September 30, 2017
	Operating Income			Benefit plan non- service expense / (income)			Interest and other expense, net		Earnings before income taxes			Income taxes ⁽¹⁾			Effective tax rate		Equity Method Investment Net Losses / (Earnings)			Non- controlling interest		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP) - As Revised	$	1,171		$	(10	)	$	19	$	1,162		$	272			23.4%	$	(92	)	$	1	$	981		$	0.64
2014-2018 Restructuring Program costs		175			-			-		175			49					-			-		126			0.08
Intangible asset impairment charges		71			-			-		71			16					-			-		55			0.04
Mark-to-market (gains)/losses from derivatives		(28	)		-			-		(28	)		(3	)				-			-		(25	)		(0.02	)
Malware incident incremental expenses		47			-			-		47			15					-			-		32			0.02
Acquisition integration costs		1			-			-		1			-					-			-		1			-
Divestiture-related costs		-			-			2		(2	)		(18	)				-			-		16			0.01
Net earnings from divestitures		(5	)		-			-		(5	)		-					2			-		(7	)		-
(Gain)/loss on divestitures		(187	)		-			-		(187	)		(8	)				-			-		(179	)		(0.12	)
Impacts from resolution of tax matters		(155	)		-			60		(215	)		(72	)				-			-		(143	)		(0.09	)
Equity method investee acquisition-related and other adjustments		-			-			-		-			1					(3	)		-		2			-
Rounding		(1	)		-			-		(1	)		-					-			-		(1	)		-

Adjusted (Non-GAAP) - As Revised	$	1,089		$	(10	)	$	81	$	1,018		$	252			24.8%	$	(93	)	$	1	$	858		$	0.56

Currency																							(12	)		-

Adjusted @ Constant FX (Non-GAAP) - As Revised																						$	846		$	0.56


Diluted Average Shares Outstanding																										1,524

	For the Three Months Ended September 30, 2016
	Operating Income			Benefit plan non- service expense / (income)			Interest and other expense, net		Earnings before income taxes			Income taxes ⁽¹⁾			Effective tax rate		Equity Method Investment Net Losses / (Earnings)			Non- controlling interest		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP) - As Revised	$	698		$	(4	)	$	145	$	557		$	34			6.1%	$	(42	)	$	-	$	565		$	0.36
2014-2018 Restructuring Program costs		297			(4	)		-		301			82					-			-		219			0.14
Intangible asset impairment charges		4			-			-		4			-					-			-		4			-
Mark-to-market (gains)/losses from derivatives		12			-			-		12			4					-			-		8			-
Net earnings from divestitures		(39	)		-			-		(39	)		(12	)				4			-		(31	)		(0.02	)
(Income)/costs associated with the JDE coffee business transactions		(2	)		-			-		(2	)		(1	)				-			-		(1	)		-
(Gain)/loss on sale of intangible assets		(7	)		-			-		(7	)		(1	)				-			-		(6	)		-
Equity method investee acquisition-related and other adjustments		-			-			-		-			2					(52	)		-		50			0.03
Rounding		1			-			-		1			-					-			-		1			-

Adjusted (Non-GAAP) - As Revised	$	964		$	(8	)	$	145	$	827		$	108			13.1%	$	(90	)	$	-	$	809		$	0.51


Diluted Average Shares Outstanding																										1,576

⁽¹⁾	Taxes were computed for each of the items excluded from the company’s GAAP results based on the facts and tax assumptions associated with each item.

Schedule 2.7

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Net Earnings and Tax Rate

(in millions of U.S. dollars and shares, except per share data)

(Unaudited)


	For the Three Months Ended June 30, 2017
	Operating Income			Benefit plan non- service expense / (income)			Interest and other expense, net			Earnings before income taxes			Income taxes ⁽¹⁾			Effective tax rate		Equity Method Investment Net Losses / (Earnings)			Non- controlling interest		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP) - As Revised	$	636		$	(5	)	$	124		$	517		$	84			16.2%	$	(67	)	$	2	$	498		$	0.32
2014-2018 Restructuring Program costs		199			(12	)		-			211			58					-			-		153			0.10
Intangible asset impairment charges		38			-			-			38			14					-			-		24			0.02
Mark-to-market (gains)/losses from derivatives		46			-			-			46			-					-			-		46			0.03
Malware incident incremental expenses		7			-			-			7			2					-			-		5			-
Divestiture-related costs		4			-			(5	)		9			2					-			-		7			-
Net earnings from divestitures		(28	)		-			-			(28	)		(8	)				2			-		(22	)		(0.01	)
(Gain)/loss on divestitures		3			-			-			3			(4	)				-			-		7			-
Loss on debt extinguishment and related expenses		-			-			(11	)		11			4					-			-		7			0.01
Equity method investee acquisition-related and other adjustments		-			-			-			-			4					(18	)		-		14			0.01
Rounding		1			-			-			1			-					-			-		1			-

Adjusted (Non-GAAP) - As Revised	$	906		$	(17	)	$	108		$	815		$	156			19.1%	$	(83	)	$	2	$	740		$	0.48

Currency																								41			0.03

Adjusted @ Constant FX (Non-GAAP) - As Revised																							$	781		$	0.51


Diluted Average Shares Outstanding																											1,539

	For the Three Months Ended June 30, 2016
	Operating Income			Benefit plan non- service expense / (income)			Interest and other expense, net			Earnings before income taxes			Income taxes ⁽¹⁾			Effective tax rate		Equity Method Investment Net Losses / (Earnings)			Non- controlling interest		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP) - As Revised	$	637		$	(1	)	$	151		$	487		$	113			23.2%	$	(89	)	$	7	$	456		$	0.29
2014-2018 Restructuring Program costs		219			(9	)		-			228			58					-			-		170			0.11
Intangible asset impairment charges		12			-			-			12			3					-			-		9			-
Mark-to-market (gains)/losses from derivatives		(17	)		-			-			(17	)		(8	)				-			-		(9	)		-
Acquisition integration costs		3			-			-			3			-					-			-		3			-
Divestiture-related costs		84			-			-			84			20					-			-		64			0.04
Net earnings from divestitures		(31	)		-			-			(31	)		(7	)				3			-		(27	)		(0.02	)
(Income)/costs associated with the JDE coffee business transactions		1			-			-			1			1					-			-		-			-
(Gain)/loss on sale of intangible assets		(6	)		-			-			(6	)		(1	)				-			-		(5	)		-
Equity method investee acquisition-related and other adjustments		-			-			-			-			-					7			-		(7	)		(0.01	)

Adjusted (Non-GAAP) - As Revised	$	902		$	(10	)	$	151		$	761		$	179			23.5%	$	(79	)	$	7	$	654		$	0.41


Diluted Average Shares Outstanding																											1,576

⁽¹⁾	Taxes were computed for each of the items excluded from the company’s GAAP results based on the facts and tax assumptions associated with each item.

Schedule 2.8

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Net Earnings and Tax Rate

(in millions of U.S. dollars and shares, except per share data)

(Unaudited)


	For the Three Months Ended March 31, 2017

	Operating Income			Benefit plan non- service expense / (income)			Interest and other expense, net			Earnings before income taxes			Income taxes ⁽¹⁾			Effective tax rate		Equity Method Investment Net Losses / (Earnings)			Gain on Equity Method Investment Transactions			Non- controlling interest		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP) - As Revised	$	825		$	(15	)	$	119		$	721		$	154			21.4%	$	(90	)	$	-		$	3	$	654		$	0.42
2014-2018 Restructuring Program costs		211			-			-			211			48					-			-			-		163			0.10
Mark-to-market (gains)/losses from derivatives		51			-			-			51			3					-			-			-		48			0.03
Acquisition integration costs		1			-			-			1			-					-			-			-		1			-
Divestiture-related costs		19			-			-			19			3					-			-			-		16			0.01
Net earnings from divestitures		(27	)		-			-			(27	)		(7	)				2			-			-		(22	)		(0.01	)
Impacts from resolution of tax matters		(46	)		-			12			(58	)		-					-			-			-		(58	)		(0.04	)
Equity method investee acquisition-related and other adjustments		-			-			-			-			3					(27	)		-			-		24			0.02
Rounding		(1	)		-			-			(1	)		-					-			-			-		(1	)		-

Adjusted (Non-GAAP) - As Revised	$	1,033		$	(15	)	$	131		$	917		$	204			22.2%	$	(115	)	$	-		$	3	$	825		$	0.53

Currency																											11			0.01

Adjusted @ Constant FX (Non-GAAP) - As Revised																										$	836		$	0.54


Diluted Average Shares Outstanding																														1,550

	For the Three Months Ended March 31, 2016
	Operating Income			Benefit plan non- service expense / (income)			Interest and other expense, net			Earnings before income taxes			Income taxes ⁽¹⁾			Effective tax rate		Equity Method Investment Net Losses / (Earnings)			Gain on Equity Method Investment Transactions			Non- controlling interest		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP) - As Revised	$	714		$	(8	)	$	244		$	478		$	45			9.4%	$	(77	)	$	(43	)	$	3	$	550		$	0.35
2014-2018 Restructuring Program costs		237			-			-			237			59					-			-			-		178			0.11
Intangible asset impairment charges		14			-			-			14			5					-			-			-		9			0.01
Mark-to-market (gains)/losses from derivatives		54			-			-			54			10					-			-			-		44			0.03
Acquisition integration costs		3			-			-			3			-					-			-			-		3			-
Net earnings from divestitures		(35	)		-			-			(35	)		(9	)				3			-			-		(29	)		(0.02	)
(Income)/costs associated with the JDE coffee business transactions		(1	)		-			-			(1	)		(3	)				-			-			-		2			-
(Gain)/loss related to interest rate swaps		-			-			(97	)		97			35					-			-			-		62			0.04
Gain on equity method investment transactions		-			-			-			-			(2	)				-			43			-		(41	)		(0.03	)
Equity method investee acquisition-related and other adjustments		-			-			-			-			-					2			-			-		(2	)		-
Rounding		(1	)		-			-			(1	)		-					-			-			-		(1	)		-

Adjusted (Non-GAAP) - As Revised	$	985		$	(8	)	$	147		$	846		$	140			16.5%	$	(72	)	$	-		$	3	$	775		$	0.49


Diluted Average Shares Outstanding																														1,587

⁽¹⁾	Taxes were computed for each of the items excluded from the company’s GAAP results based on the facts and tax assumptions associated with each item.

Schedule 2.9

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Net Earnings and Tax Rate

(in millions of U.S. dollars and shares, except per share data)

(Unaudited)


	For the Twelve Months Ended December 31, 2016

	Operating Income			Benefit plan non- service expense / (income)			Interest and other expense, net			Earnings before income taxes			Income taxes ⁽¹⁾			Effective tax rate		Equity Method Investment Net Losses / (Earnings)			Gain on Equity Method Investment Transactions			Non- controlling interest		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP) - As Revised	$	2,554		$	(15	)	$	1,115		$	1,454		$	114			7.8%	$	(262	)	$	(43	)	$	10	$	1,635		$	1.04
2014-2018 Restructuring Program costs		1,072			(14	)		-			1,086			288					-			-			-		798			0.51
Intangible asset impairment charges		137			-			-			137			37					-			-			-		100			0.06
Mark-to-market (gains)/losses from derivatives		94			-			-			94			11					-			-			-		83			0.05
Acquisition integration costs		7			-			-			7			-					-			-			-		7			0.01
Acquisition-related costs		1			-			-			1			-					-			-			-		1			-
Divestiture-related costs		86			-			-			86			15					-			-			-		71			0.05
Net earnings from divestitures		(153	)		-			-			(153	)		(40	)				12			-			-		(125	)		(0.08	)
(Gain)/loss on divestitures		(9	)		-			-			(9	)		-					-			-			-		(9	)		-
(Income)/costs associated with the JDE coffee business transactions		(2	)		-			-			(2	)		(3	)				-			-			-		1			-
(Gain)/loss on sale of intangible assets		(15	)		-			-			(15	)		(3	)				-			-			-		(12	)		(0.01	)
(Gain)/loss related to interest rate swaps		-			-			(97	)		97			36					-			-			-		61			0.04
Loss on debt extinguishment and related expenses		-			-			(427	)		427			163					-			-			-		264			0.17
Gain on equity method investment transactions		-			-			-			-			(2	)				-			43			-		(41	)		(0.03	)
Equity method investee acquisition-related and other adjustments		-			-			-			-			3					(60	)		-			-		57			0.03
Rounding		1			-			-			1			1					-			-			-		-			-

Adjusted (Non-GAAP) - As Revised	$	3,773		$	(29	)	$	591		$	3,211		$	620			19.3%	$	(310	)	$	-		$	10	$	2,891		$	1.84

Currency																											105			0.06

Adjusted @ Constant FX (Non-GAAP) - As Revised																										$	2,996		$	1.90


Diluted Average Shares Outstanding																														1,573

	For the Twelve Months Ended December 31, 2015
	Operating Income			Benefit plan non- service expense / (income)			Interest and other expense, net			Earnings before income taxes			Income taxes ⁽¹⁾			Effective tax rate		Equity Method Investment Net Losses / (Earnings)			Gain on Equity Method Investment Transactions			Non- controlling interest		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP)	$	8,954		$	57		$	1,013		$	7,884		$	593			7.5%	$	-		$	-		$	24	$	7,267		$	4.44
2012-2014 Restructuring Program costs		(4	)		-			-			(4	)		(1	)				-			-			-		(3	)		-
2014-2018 Restructuring Program costs		994			(8	)		-			1,002			262					-			-			-		740			0.45
Intangible asset impairment charges		71			-			-			71			13					-			-			-		58			0.03
Mark-to-market (gains)/losses from derivatives		(56	)		-			-			(56	)		(15	)				-			-			-		(41	)		(0.03	)
Acquisition integration costs		9			-			-			9			-					-			-			-		9			-
Acquisition-related costs		8			-			-			8			-					-			-			-		8			-
Divestiture-related costs		-			-			(1	)		1			-					-			-			-		1			-
Net earnings from divestitures		(182	)		-			-			(182	)		(80	)				17			-			-		(119	)		(0.07	)
Net earnings from Venezuelan subsidiaries		(281	)		-			3			(284	)		(107	)				-			-			-		(177	)		(0.10	)
Remeasurement of net monetary assets in Venezuela		11			-			-			11			1					-			-			-		10			0.01
Loss on deconsolidation of Venezuela		778			-			-			778			-					-			-			-		778			0.48
(Gain)/loss on divestitures		(13	)		-			-			(13	)		(22	)				-			-			-		9			0.01
(Income)/costs associated with the JDE coffee business transactions		278			-			436			(158	)		(145	)				-			-			-		(13	)		(0.01	)
Reclassification of net earnings from historical coffee business		(357	)		(15	)		-			(342	)		(46	)				(296	)		-			-		-			-
Gain on the JDE coffee business transactions		(6,809	)		-			-			(6,809	)		(183	)				-			-			-		(6,626	)		(4.05	)
(Gain)/loss related to interest rate swaps		-			-			(34	)		34			13					-			-			-		21			0.01
Loss on debt extinguishment and related expenses		-			-			(753	)		753			275					-			-			-		478			0.29
Equity method investee acquisition-related and other adjustments		-			-			-			-			-					(107	)		-			-		107			0.07
Reclassification of equity method investment earnings		(51	)		-			-			(51	)		-					(51	)		-			-		-			-

Adjusted (Non-GAAP)	$	3,350		$	34		$	664		$	2,652		$	558			21.0%	$	(437	)	$	-		$	24	$	2,507		$	1.53


Diluted Average Shares Outstanding																														1,637

⁽¹⁾	Taxes were computed for each of the items excluded from the company’s GAAP results based on the facts and tax assumptions associated with each item.

Schedule 3.1

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Diluted EPS

(Unaudited)


	For the Six Months Ended June 30,
	2018			2017			$ Change			% Change
Diluted EPS attributable to Mondelēz International (GAAP) - As Revised	$	0.91		$	0.75		$	0.16			21.3 %
2014-2018 Restructuring Program costs		0.15			0.21			(0.06	)
Intangible asset impairment charges		-			0.02			(0.02	)
Mark-to-market (gains)/losses from derivatives		(0.17	)		0.06			(0.23	)
Acquisition-related costs		0.01			-			0.01
Divestiture-related costs		-			0.01			(0.01	)
Net earnings from divestitures		-			(0.03	)		0.03
Impact of pension participation changes		0.20			-			0.20
Impacts from resolution of tax matters		-			(0.04	)		0.04
CEO transition remuneration		0.01			-			0.01
(Gain)/loss related to interest rate swaps		(0.01	)		-			(0.01	)
Loss on debt extinguishment and related expenses		0.07			0.01			0.06
U.S. tax reform discrete net tax (benefit)/expense		0.06			-			0.06
Equity method investee acquisition-related and other adjustments		(0.05	)		0.02			(0.07	)

Adjusted EPS (Non-GAAP) - As Revised	$	1.18		$	1.01		$	0.17			16.8 %
Impact of favorable currency		(0.06	)		-			(0.06	)

Adjusted EPS @ Constant FX (Non-GAAP) - As Revised	$	1.12		$	1.01		$	0.11			10.9 %

Schedule 3.2

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Diluted EPS

(Unaudited)


	For the Three Months Ended June 30,
	2018		2017		$ Change		% Change
Diluted EPS attributable to Mondelēz International (GAAP) - As Revised	$	0.21	$	0.32	$	(0.11)		(34.4)%
2014-2018 Restructuring Program costs		0.09		0.10		(0.01)
Intangible asset impairment charges		-		0.02		(0.02)
Mark-to-market (gains)/losses from derivatives		(0.05)		0.03		(0.08)
Acquisition-related costs		0.01		-		0.01
Net earnings from divestitures		-		(0.01)		0.01
Impact of pension participation changes		0.20		-		0.20
CEO transition remuneration		0.01		-		0.01
Loss on debt extinguishment and related expenses		0.07		0.01		0.06
Equity method investee acquisition-related and other adjustments		0.01		0.01		-

Adjusted EPS (Non-GAAP) - As Revised	$	0.55	$	0.48	$	0.07		14.6 %
Impact of favorable currency		(0.01)		-		(0.01)

Adjusted EPS @ Constant FX (Non-GAAP) - As Revised	$	0.54	$	0.48	$	0.06		12.5 %

Schedule 3.3

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Diluted EPS

(Unaudited)


	For the Three Months Ended March 31,
	2018			2017			$ Change			% Change
Diluted EPS attributable to Mondelēz International (GAAP) - As Revised	$	0.70		$	0.42		$	0.28			66.7 %
2014-2018 Restructuring Program costs		0.06			0.10			(0.04	)
Mark-to-market (gains)/losses from derivatives		(0.12	)		0.03			(0.15	)
Divestiture-related costs		-			0.01			(0.01	)
Net earnings from divestitures		-			(0.01	)		0.01
Impacts from resolution of tax matters		-			(0.04	)		0.04
(Gain)/loss related to interest rate swaps		(0.01	)		-			(0.01	)
U.S. tax reform discrete net tax (benefit)/expense		0.06			-			0.06
Equity method investee acquisition-related and other adjustments		0.04			0.02			0.02

Adjusted EPS (Non-GAAP) - As Revised	$	0.63		$	0.53		$	0.10			18.9 %
Impact of favorable currency		(0.05	)		-			(0.05	)

Adjusted EPS @ Constant FX (Non-GAAP) - As Revised	$	0.58		$	0.53		$	0.05			9.4 %

Schedule 3.4

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Diluted EPS

(Unaudited)


	For the Twelve Months Ended December 31,
	2017			2016			$ Change			% Change
Diluted EPS attributable to Mondelēz International (GAAP) - As Revised	$	1.85		$	1.04		$	0.81			77.9 %
2014-2018 Restructuring Program costs		0.39			0.51			(0.12	)
Intangible asset impairment charges		0.05			0.06			(0.01	)
Mark-to-market (gains)/losses from derivatives		0.06			0.05			0.01
Malware incident incremental expenses		0.04			-			0.04
Acquisition integration costs		-			0.01			(0.01	)
Acquisition-related costs		-			-			-
Divestiture-related costs		0.02			0.05			(0.03	)
Net earnings from divestitures		(0.03	)		(0.08	)		0.05
(Gain)/loss on divestitures		(0.11	)		-			(0.11	)
(Income)/costs associated with the JDE coffee business transactions		-			-			-
(Gain)/loss on sale of intangible assets		-			(0.01	)		0.01
Impact of pension participation changes		-			-			-
Impacts from resolution of tax matters		(0.13	)		-			(0.13	)
CEO transition remuneration		0.01			-			0.01
(Gain)/loss related to interest rate swaps		-			0.04			(0.04	)
Loss on debt extinguishment and related expenses		-			0.17			(0.17	)
U.S. tax reform discrete net tax (benefit)/expense		(0.03	)		-			(0.03	)
Gain on equity method investment transactions		(0.02	)		(0.03	)		0.01
Equity method investee acquisition-related and other adjustments		0.04			0.03			0.01

Adjusted EPS (Non-GAAP) - As Revised	$	2.14		$	1.84		$	0.30			16.3 %
Impact of favorable currency		(0.01	)		-			(0.01	)

Adjusted EPS @ Constant FX (Non-GAAP) - As Revised	$	2.13		$	1.84		$	0.29			15.8 %

Schedule 3.5

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Diluted EPS

(Unaudited)


	For the Three Months Ended December 31,
	2017			2016			$ Change			% Change
Diluted EPS attributable to Mondelēz International (GAAP) - As Revised	$	0.46		$	0.04		$	0.42			1,050.0 %
2014-2018 Restructuring Program costs		0.11			0.15			(0.04	)
Intangible asset impairment charges		-			0.05			(0.05	)
Mark-to-market (gains)/losses from derivatives		0.01			0.03			(0.02	)
Malware incident incremental expenses		0.01			-			0.01
Net earnings from divestitures		-			(0.03	)		0.03
CEO transition remuneration		0.01			-			0.01
Loss on debt extinguishment and related expenses		-			0.17			(0.17	)
U.S. tax reform discrete net tax (benefit)/expense		(0.03	)		-			(0.03	)
Gain on equity method investment transactions		(0.02	)		-			(0.02	)
Equity method investee acquisition-related and other adjustments		0.01			0.01			-

Adjusted EPS (Non-GAAP) - As Revised	$	0.56		$	0.42		$	0.14			33.3 %
Impact of favorable currency		(0.04	)		-			(0.04	)

Adjusted EPS @ Constant FX (Non-GAAP) - As Revised	$	0.52		$	0.42		$	0.10			23.8 %

Schedule 3.6

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Diluted EPS

(Unaudited)


	For the Three Months Ended September 30,
	2017			2016			$ Change			% Change
Diluted EPS attributable to Mondelēz International (GAAP) - As Revised	$	0.64		$	0.36		$	0.28			77.8 %
2014-2018 Restructuring Program costs		0.08			0.14			(0.06	)
Intangible asset impairment charges		0.04			-			0.04
Mark-to-market (gains)/losses from derivatives		(0.02	)		-			(0.02	)
Malware incident incremental expenses		0.02			-			0.02
Divestiture-related costs		0.01			-			0.01
Net earnings from divestitures		-			(0.02	)		0.02
(Gain)/loss on divestitures		(0.12	)		-			(0.12	)
Impacts from resolution of tax matters		(0.09	)		-			(0.09	)
Equity method investee acquisition-related and other adjustments		-			0.03			(0.03	)

Adjusted EPS (Non-GAAP) - As Revised	$	0.56		$	0.51		$	0.05			9.8 %
Impact of favorable currency		-			-			-

Adjusted EPS @ Constant FX (Non-GAAP) - As Revised	$	0.56		$	0.51		$	0.05			9.8 %

Schedule 3.7

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Diluted EPS

(Unaudited)


	For the Three Months Ended June 30,
	2017			2016			$ Change			% Change
Diluted EPS attributable to Mondelēz International (GAAP) - As Revised	$	0.32		$	0.29		$	0.03			10.3 %
2014-2018 Restructuring Program costs		0.10			0.11			(0.01	)
Intangible asset impairment charges		0.02			-			0.02
Mark-to-market (gains)/losses from derivatives		0.03			-			0.03
Divestiture-related costs		-			0.04			(0.04	)
Net earnings from divestitures		(0.01	)		(0.02	)		0.01
Loss on debt extinguishment and related expenses		0.01			-			0.01
Equity method investee acquisition-related and other adjustments		0.01			(0.01	)		0.02

Adjusted EPS (Non-GAAP) - As Revised	$	0.48		$	0.41		$	0.07			17.1 %
Impact of unfavorable currency		0.03			-			0.03

Adjusted EPS @ Constant FX (Non-GAAP) - As Revised	$	0.51		$	0.41		$	0.10			24.4 %

Schedule 3.8

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Diluted EPS

(Unaudited)


	For the Three Months Ended March 31,
	2017			2016			$ Change			% Change
Diluted EPS attributable to Mondelēz International (GAAP) - As Revised	$	0.42		$	0.35		$	0.07			20.0 %
2014-2018 Restructuring Program costs		0.10			0.11			(0.01	)
Intangible asset impairment charges		-			0.01			(0.01	)
Mark-to-market (gains)/losses from derivatives		0.03			0.03			-
Divestiture-related costs		0.01			-			0.01
Net earnings from divestitures		(0.01	)		(0.02	)		0.01
Impacts from resolution of tax matters		(0.04	)		-			(0.04	)
(Gain)/loss related to interest rate swaps		-			0.04			(0.04	)
Gain on equity method investment transactions		-			(0.03	)		0.03
Equity method investee acquisition-related and other adjustments		0.02			-			0.02

Adjusted EPS (Non-GAAP) - As Revised	$	0.53		$	0.49		$	0.04			8.2 %
Impact of unfavorable currency		0.01			-			0.01

Adjusted EPS @ Constant FX (Non-GAAP) - As Revised	$	0.54		$	0.49		$	0.05			10.2 %

Schedule 3.9

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Diluted EPS

(Unaudited)


	For the Twelve Months Ended December 31,
	2016			2015⁽¹⁾			$ Change			% Change
Diluted EPS attributable to Mondelēz International (GAAP) - As Revised	$	1.04		$	4.44		$	(3.40	)		(76.6	)%
2014-2018 Restructuring Program costs		0.51			0.45			0.06
Intangible asset impairment charges		0.06			0.03			0.03
Mark-to-market (gains)/losses from derivatives		0.05			(0.03	)		0.08
Acquisition integration costs		0.01			-			0.01
Divestiture-related costs		0.05			-			0.05
Net earnings from divestitures		(0.08	)		(0.07	)		(0.01	)
Net earnings from Venezuelan subsidiaries		-			(0.10	)		0.10
Remeasurement of net monetary assets in Venezuela		-			0.01			(0.01	)
Loss on deconsolidation of Venezuela		-			0.48			(0.48	)
(Gain)/loss on divestitures		-			0.01			(0.01	)
(Income)/costs associated with the JDE coffee business transactions		-			(0.01	)		0.01
Gain on the JDE coffee business transactions		-			(4.05	)		4.05
(Gain)/loss on sale of intangible assets		(0.01	)		-			(0.01	)
(Gain)/loss related to interest rate swaps		0.04			0.01			0.03
Loss on debt extinguishment and related expenses		0.17			0.29			(0.12	)
Gain on equity method investment transactions		(0.03	)		-			(0.03	)
Equity method investee acquisition-related and other adjustments		0.03			0.07			(0.04	)

Adjusted EPS (Non-GAAP) - As Revised	$	1.84		$	1.53		$	0.31			20.3 %
Impact of unfavorable currency		0.06			-			0.06

Adjusted EPS @ Constant FX (Non-GAAP) - As Revised	$	1.90		$	1.53		$	0.37			24.2 %

⁽¹⁾ Reflects “As Reported” results since the year 2015 was not impacted by the change in accounting principle