EX-99.1

EX-99.1 2 d72875dex991.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 Three Months Ended March 31, 2020
	As Reported			Remove current period JDE results			Add prior period JDE results		As Recast
Net revenues	$	6,707							$	6,707
Cost of sales		4,256								4,256

Gross profit		2,451								2,451
Gross profit margin		36.5	%							36.5	%

Selling, general and administrative expenses		1,537								1,537
Asset impairment and exit costs		15								15
Amortization of intangibles		43								43

Operating income		856								856
Operating income margin		12.8	%							12.8	%

Benefit plan non-service income		(33	)							(33	)
Interest and other expense, net		190								190

Earnings before income taxes		699								699

Provision for income taxes		(148	)							(148	)
Effective tax rate		21.2	%							21.2	%
Gain on equity method investment transactions		71								71
Equity method investment net earnings		138		$	(59	)	$	42		121

Net earnings		760			(59	)		42		743

Noncontrolling interest earnings		(7	)							(7	)

Net earnings attributable to Mondelēz International	$	753		$	(59	)	$	42	$	736

Per share data:
Basic earnings per share attributable to Mondelēz International	$	0.53							$	0.51

Diluted earnings per share attributable to Mondelēz International	$	0.52							$	0.51

Average shares outstanding:
Basic		1,434								1,434
Diluted		1,445								1,445

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 Twelve Months Ended December 31, 2019
	As Reported			Remove current period JDE results			Add prior period JDE results		As Recast
Net revenues	$	25,868							$	25,868
Cost of sales		15,531								15,531

Gross profit		10,337								10,337
Gross profit margin		40.0	%							40.0	%

Selling, general and administrative expenses		6,136								6,136
Asset impairment and exit costs		228								228
Gain on divestitures		(44	)							(44	)
Amortization of intangibles		174								174

Operating income		3,843								3,843
Operating income margin		14.9	%							14.9	%

Benefit plan non-service income		(60	)							(60	)
Interest and other expense, net		456								456

Earnings before income taxes		3,447								3,447

Provision for income taxes		(2	)							(2	)
Effective tax rate		0.1	%							0.1	%
Loss on equity method investment transaction		(2	)							(2	)
Equity method investment net earnings		442		$	(195	)	$	254		501

Net earnings		3,885			(195	)		254		3,944

Noncontrolling interest earnings		(15	)							(15	)

Net earnings attributable to Mondelēz International	$	3,870		$	(195	)	$	254	$	3,929

Per share data:
Basic earnings per share attributable to Mondelēz International	$	2.68							$	2.72

Diluted earnings per share attributable to Mondelēz International	$	2.65							$	2.69

Average shares outstanding:
Basic		1,445								1,445
Diluted		1,458								1,458

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 December 31, 2019
	As Reported			Remove current period JDE results			Add prior period JDE results		As Recast
Net revenues	$	6,913							$	6,913
Cost of sales		4,154								4,154

Gross profit		2,759								2,759
Gross profit margin		39.9	%							39.9	%

Selling, general and administrative expenses		1,750								1,750
Asset impairment and exit costs		59								59
Amortization of intangibles		44								44

Operating income		906								906
Operating income margin		13.1	%							13.1	%

Benefit plan non-service income		(18	)							(18	)
Interest and other expense, net		70								70

Earnings before income taxes		854								854

Provision for income taxes		(230	)							(230	)
Effective tax rate		26.9	%							26.9	%
Equity method investment net earnings		105		$	(43	)	$	50		112

Net earnings		729			(43	)		50		736

Noncontrolling interest earnings		(3	)							(3	)

Net earnings attributable to Mondelēz International	$	726		$	(43	)	$	50	$	733

Per share data:
Basic earnings per share attributable to Mondelēz International	$	0.50							$	0.51

Diluted earnings per share attributable to Mondelēz International	$	0.50							$	0.50

Average shares outstanding:
Basic		1,441								1,441
Diluted		1,453								1,453

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 Three Months Ended September 30, 2019
	As Reported			Remove current period JDE results			Add prior period JDE results		As Recast
Net revenues	$	6,355							$	6,355
Cost of sales		3,839								3,839

Gross profit		2,516								2,516
Gross profit margin		39.6	%							39.6	%

Selling, general and administrative expenses		1,466								1,466
Asset impairment and exit costs		134								134
Gain on divestitures		(3	)							(3	)
Amortization of intangibles		43								43

Operating income		876								876
Operating income margin		13.8	%							13.8	%

Benefit plan non-service income		(13	)							(13	)
Interest and other expense, net		205								205

Earnings before income taxes		684								684

Benefit for income taxes		633								633
Effective tax rate		(92.5	)%							(92.5	)%
Equity method investment net earnings		111		$	(49	)	$	52		114

Net earnings		1,428			(49	)		52		1,431

Noncontrolling interest earnings		(5	)							(5	)

Net earnings attributable to Mondelēz International	$	1,423		$	(49	)	$	52	$	1,426

Per share data:
Basic earnings per share attributable to Mondelēz International	$	0.98							$	0.99

Diluted earnings per share attributable to Mondelēz International	$	0.98							$	0.98

Average shares outstanding:
Basic		1,445								1,445
Diluted		1,458								1,458

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 June 30, 2019
	As Reported			Remove current period JDE results			Add prior period JDE results		As Recast
Net revenues	$	6,062							$	6,062
Cost of sales		3,593								3,593

Gross profit		2,469								2,469
Gross profit margin		40.7	%							40.7	%

Selling, general and administrative expenses		1,427								1,427
Asset impairment and exit costs		15								15
Gain on divestitures		(41	)							(41	)
Amortization of intangibles		43								43

Operating income		1,025								1,025
Operating income margin		16.9	%							16.9	%

Benefit plan non-service income		(12	)							(12	)
Interest and other expense, net		101								101

Earnings before income taxes		936								936

Provision for income taxes		(216	)							(216	)
Effective tax rate		23.1	%							23.1	%
Loss on equity method investment transaction		(25	)							(25	)
Equity method investment net earnings		113		$	(53	)	$	49		109

Net earnings		808			(53	)		49		804

Noncontrolling interest earnings		(1	)							(1	)

Net earnings attributable to Mondelēz International	$	807		$	(53	)	$	49	$	803

Per share data:
Basic earnings per share attributable to Mondelēz International	$	0.56							$	0.56

Diluted earnings per share attributable to Mondelēz International	$	0.55							$	0.55

Average shares outstanding:
Basic		1,445								1,445
Diluted		1,458								1,458

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 March 31, 2019
	As Reported			Remove current period JDE results			Add prior period JDE results		As Recast
Net revenues	$	6,538							$	6,538
Cost of sales		3,945								3,945

Gross profit		2,593								2,593
Gross profit margin		39.7	%							39.7	%

Selling, general and administrative expenses		1,493								1,493
Asset impairment and exit costs		20								20
Amortization of intangibles		44								44

Operating income		1,036								1,036
Operating income margin		15.8	%							15.8	%

Benefit plan non-service income		(17	)							(17	)
Interest and other expense, net		80								80

Earnings before income taxes		973								973

Provision for income taxes		(189	)							(189	)
Effective tax rate		19.4	%							19.4	%
Gain on equity method investment transactions		23								23
Equity method investment net earnings		113		$	(50	)	$	103		166

Net earnings		920			(50	)		103		973

Noncontrolling interest earnings		(6	)							(6	)

Net earnings attributable to Mondelēz International	$	914		$	(50	)	$	103	$	967

Per share data:
Basic earnings per share attributable to Mondelēz International	$	0.63							$	0.67

Diluted earnings per share attributable to Mondelēz International	$	0.63							$	0.66

Average shares outstanding:
Basic		1,449								1,449
Diluted		1,461								1,461

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 Twelve Months Ended December 31, 2018
	As Reported			Remove current period JDE results			Add prior period JDE results		As Recast
Net revenues	$	25,938							$	25,938
Cost of sales		15,586								15,586

Gross profit		10,352								10,352
Gross profit margin		39.9	%							39.9	%

Selling, general and administrative expenses		6,475								6,475
Asset impairment and exit costs		389								389
Amortization of intangibles		176								176

Operating income		3,312								3,312
Operating income margin		12.8	%							12.8	%

Benefit plan non-service income		(50	)							(50	)
Interest and other expense, net		520								520

Earnings before income taxes		2,842								2,842

Provision for income taxes		(773	)							(773	)
Effective tax rate		27.2	%							27.2	%
Gain on equity method investment transactions		778								778
Equity method investment net earnings		548		$	(230	)	$	166		484

Net earnings		3,395			(230	)		166		3,331

Noncontrolling interest earnings		(14	)							(14	)

Net earnings attributable to Mondelēz International	$	3,381		$	(230	)	$	166	$	3,317

Per share data:
Basic earnings per share attributable to Mondelēz International	$	2.30							$	2.25

Diluted earnings per share attributable to Mondelēz International	$	2.28							$	2.23

Average shares outstanding:
Basic		1,472								1,472
Diluted		1,486								1,486

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 Three Months Ended March 31, 2020
	Operating Income			Benefit plan non- service expense / (income)			Interest and other expense, net			Earnings before income taxes			Income taxes ⁽¹⁾			Effective tax rate			Gain on equity method investment transactions			Equity method investment net losses / (earnings)			Non- controlling interest earnings		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP) - As Recast	$	856		$	(33	)	$	190		$	699		$	148			21.2	%	$	(71	)	$	(121	)	$	7	$	736		$	0.51
Simplify to Grow Program		58			—			—			58			13						—			—			—		45			0.03
Mark-to-market (gains)/losses from derivatives		185			—			1			184			32						—			—			—		152			0.11
Acquisition-related costs		5			—			—			5			1						—			—			—		4			—
Net earnings from divestitures - KDP		—			—			—			—			—						—			2			—		(2	)		—
Remeasurement of net monetary position		2			—			—			2			—						—			—			—		2			—
Impact from pension participation changes		—			—			(3	)		3			1						—			—			—		2			—
Loss related to interest rate swaps		—			—			(103	)		103			24						—			—			—		79			0.06
Gain on equity method investment transactions		—			—			—			—			(17	)					71			—			—		(54	)		(0.04	)
Equity method investee acquisition-related or other charges/benefits, net		—			—			—			—			1						—			(8	)		—		7			—

Adjusted (Non-GAAP) - As Recast	$	1,106		$	(33	)	$	85		$	1,054		$	203			19.3	%	$	—		$	(127	)	$	7	$	971		$	0.67

Currency																												43			0.03

Adjusted @ Constant FX (Non-GAAP) - As Recast																											$	1,014		$	0.70

Diluted Average Shares Outstanding																															1,445

	For the Three Months Ended March 31, 2019
	Operating Income			Benefit plan non- service expense / (income)			Interest and other expense, net			Earnings before income taxes			Income taxes ⁽¹⁾			Effective tax rate			Gain on equity method investment transactions			Equity method investment net losses / (earnings)			Non- controlling interest earnings		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP) - As Recast	$	1,036		$	(17	)	$	80		$	973		$	189			19.4	%	$	(23	)	$	(166	)	$	6	$	967		$	0.66
Simplify to Grow Program		70			—			—			70			19						—			—			—		51			0.03
Mark-to-market (gains)/losses from derivatives		(16	)		—			—			(16	)		(3	)					—			—			—		(13	)		(0.01	)
Divestiture-related costs		(1	)		—			—			(1	)		—						—			—			—		(1	)		—
Net earnings from divestitures		(4	)		—			—			(4	)		—						—			—			—		(4	)		—
Net earnings from divestitures - KDP		—			—			—			—			—						—			1			—		(1	)		—
Remeasurement of net monetary position		2			—			—			2			—						—			—			—		2			—
CEO transition remuneration		3			—			—			3			—						—			—			—		3			—
U.S. tax reform discrete net tax expense		—			—			—			—			(1	)					—			—			—		1			—
Gain on equity method investment transactions		—			—			—			—			(5	)					23			—			—		(18	)		(0.01	)
Equity method investee acquisition-related or other charges/benefits, net		—			—			—			—			4						—			(17	)		—		13			0.01

Adjusted (Non-GAAP) - As Recast	$	1,090		$	(17	)	$	80		$	1,027		$	203			19.8	%	$	—		$	(182	)	$	6	$	1,000		$	0.68

Diluted Average Shares Outstanding																															1,461

⁽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 Twelve Months Ended December 31, 2019
	Operating Income			Benefit plan non- service expense / (income)			Interest and other expense, net			Earnings before income taxes			Income taxes ⁽¹⁾			Effective tax rate			Loss on equity method investment transactions			Equity method investment net losses / (earnings)			Non- controlling interest earnings		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP) - As Recast	$	3,843		$	(60	)	$	456		$	3,447		$	2			0.1	%	$	2		$	(501	)	$	15	$	3,929		$	2.69
Simplify to Grow Program		442			(6	)		—			448			103						—			—			—		345			0.24
Intangible asset impairment charges		57			—			—			57			14						—			—			—		43			0.03
Mark-to-market (gains)/losses from derivatives		(91	)		—			(1	)		(90	)		(19	)					—			—			—		(71	)		(0.05	)
Acquisition-related costs		3			—			—			3			1						—			—			—		2			—
Divestiture-related costs		6			—			—			6			—						—			—			—		6			—
Net earnings from divestitures		(9	)		—			—			(9	)		—						—			—			—		(9	)		(0.01	)
Net earnings from divestitures - KDP		—			—			—			—			(2	)					—			6			—		(4	)		—
Gain on divestitures		(44	)		—			—			(44	)		(3	)					—			—			—		(41	)		(0.03	)
Remeasurement of net monetary position		(4	)		—			—			(4	)		—						—			—			—		(4	)		—
Impact from pension participation changes		(35	)		—			(6	)		(29	)		(8	)					—			—			—		(21	)		(0.02	)
Impact from resolution of tax matters		85			—			—			85			21						—			—			—		64			0.05
CEO transition remuneration		9			—			—			9			—						—			—			—		9			0.01
Loss related to interest rate swaps		—			—			(111	)		111			—						—			—			—		111			0.08
Swiss tax reform net impacts		2			—			—			2			769						—			—			—		(767	)		(0.53	)
U.S. tax reform discrete net tax (benefit)/expense		—			—			—			—			(5	)					—			—			—		5			—
Loss on equity method investment transactions		—			—			—			—			(6	)					(2	)		—			—		8			0.01
Equity method investee acquisition-related or other charges/benefits, net		—			—			—			—			11						—			(56	)		—		45			0.03

Adjusted (Non-GAAP) - As Recast	$	4,264		$	(66	)	$	338		$	3,992		$	878			22.0	%	$	—		$	(551	)	$	15	$	3,650		$	2.50

Currency																												222			0.16

Adjusted @ Constant FX (Non-GAAP) - As Recast																											$	3,872		$	2.66

Diluted Average Shares Outstanding																															1,458

	For the Twelve Months Ended December 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			Gain on equity method investment transactions			Equity method investment net losses / (earnings)			Non- controlling interest earnings		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP) - As Recast	$	3,312		$	(50	)	$	520		$	2,842		$	773			27.2	%	$	(778	)	$	(484	)	$	14	$	3,317		$	2.23
Simplify to Grow Program		626			(5	)		—			631			156						—			—			—		475			0.32
Intangible asset impairment charges		68			—			—			68			16						—			—			—		52			0.03
Mark-to-market (gains)/losses from derivatives		(141	)		—			1			(142	)		(10	)					—			—			—		(132	)		(0.09	)
Acquisition integration costs		3			—			—			3			—						—			—			—		3			—
Acquisition-related costs		13			—			—			13			3						—			—			—		10			0.01
Divestiture-related costs		(1	)		—			—			(1	)		(2	)					—			—			—		1			—
Net earnings from divestitures		(19	)		—			—			(19	)		—						—			—			—		(19	)		(0.02	)
Net earnings from divestitures - KDP		—			—			—			—			(2	)					—			8			—		(6	)		—
Remeasurement of net monetary position		11			—			—			11			—						—			—			—		11			0.01
Impact from pension participation changes		423			—			(6	)		429			108						—			—			—		321			0.22
Impact from resolution of tax matters		(15	)		—			(4	)		(11	)		6						—			—			—		(17	)		(0.01	)
CEO transition remuneration		22			—			—			22			5						—			—			—		17			0.01
Gain related to interest rate swaps		—			—			10			(10	)		(2	)					—			—			—		(8	)		(0.01	)
Loss on debt extinguishment and related expenses		—			—			(140	)		140			35						—			—			—		105			0.07
U.S. tax reform discrete net tax (benefit)/expense		—			—			—			—			(19	)					—			—			—		19			0.01
Gain on equity method investment transactions		—			—			—			—			(192	)					778			—			—		(586	)		(0.39	)
Equity method investee acquisition-related or other charges/benefits, net		—			—			—			—			(16	)					—			37			—		(21	)		(0.01	)

Adjusted (Non-GAAP) - As Recast	$	4,302		$	(55	)	$	381		$	3,976		$	859			21.6	%	$	—		$	(439	)	$	14	$	3,542		$	2.38

Diluted Average Shares Outstanding																															1,486

⁽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 December 31, 2019
	Operating Income			Benefit plan non- service expense / (income)			Interest and other expense, net			Earnings before income taxes			Income taxes ⁽¹⁾			Effective tax rate			Gain on equity method investment transactions			Equity method investment net losses / (earnings)			Non- controlling interest earnings		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP) - As Recast	$	906		$	(18	)	$	70		$	854		$	230			26.9	%	$	—		$	(112	)	$	3	$	733		$	0.50
Simplify to Grow Program		138			—			—			138			36						—			—			—		102			0.07
Mark-to-market (gains)/losses from derivatives		(22	)		—			1			(23	)		(5	)					—			—			—		(18	)		(0.01	)
Acquisition-related costs		1			—			—			1			—						—			—			—		1			—
Net earnings from divestitures - KDP		—			—			—			—			(1	)					—			2			—		(1	)		—
Remeasurement of net monetary position		(6	)		—			—			(6	)		—						—			—			—		(6	)		—
Impact from pension participation changes		—			—			(3	)		3			1						—			—			—		2			—
Impact from resolution of tax matters		85			—			—			85			21						—			—			—		64			0.04
U.S. tax reform discrete net tax (benefit)/expense		—			—			—			—			(3	)					—			—			—		3			—
Equity method investee acquisition-related or other charges/benefits, net		—			—			—			—			2						—			(15	)		—		13			0.01
Rounding		(1	)		—			—			(1	)		—						—			—			—		(1	)		—

Adjusted (Non-GAAP) - As Recast	$	1,101		$	(18	)	$	68		$	1,051		$	281			26.7	%	$	—		$	(125	)	$	3	$	892		$	0.61

Currency																												35			0.03

Adjusted @ Constant FX (Non-GAAP) - As Recast																											$	927		$	0.64

Diluted Average Shares Outstanding																															1,453

	For the Three Months Ended December 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			Gain on equity method investment transactions			Equity method investment net losses / (earnings)			Non- controlling interest earnings		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP) - As Recast	$	870		$	(3	)	$	106		$	767		$	111			14.5	%	$	(21	)	$	(83	)	$	3	$	757		$	0.51
Simplify to Grow Program		194			(2	)		—			196			45						—			—			—		151			0.10
Mark-to-market (gains)/losses from derivatives		40			—			2			38			17						—			—			—		21			0.02
Acquisition integration costs		1			—			—			1			—						—			—			—		1			—
Acquisition-related costs		(1	)		—			—			(1	)		—						—			—			—		(1	)		—
Divestiture-related costs		2			—			—			2			—						—			—			—		2			—
Net earnings from divestitures		(5	)		—			—			(5	)		1						—			—			—		(6	)		—
Net earnings from divestitures - KDP		—			—			—			—			—						—			1			—		(1	)		—
Remeasurement of net monetary position		(2	)		—			—			(2	)		—						—			—			—		(2	)		—
Impact from pension participation changes		15			—			(3	)		18			4						—			—			—		14			0.01
Impact from resolution of tax matters		(26	)		—			—			(26	)		(9	)					—			—			—		(17	)		(0.01	)
CEO transition remuneration		4			—			—			4			1						—			—			—		3			—
U.S. tax reform discrete net tax (benefit)/expense		—			—			—			—			77						—			—			—		(77	)		(0.05	)
Gain on equity method investment transactions		—			—			—			—			(8	)					21			—			—		(13	)		(0.01	)
Equity method investee acquisition-related or other charges/benefits, net		—			—			—			—			7						—			(40	)		—		33			0.02
Rounding		(1	)		—			—			(1	)		—						—			—			—		(1	)		—

Adjusted (Non-GAAP) - As Recast	$	1,091		$	(5	)	$	105		$	991		$	246			24.8	%	$	—		$	(122	)	$	3	$	864		$	0.59

Diluted Average Shares Outstanding																															1,470

⁽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 Three Months Ended September 30, 2019
	Operating Income			Benefit plan non- service expense / (income)			Interest and other expense, net			Earnings before income taxes			Income taxes ⁽¹⁾			Effective tax rate			Gain on equity method investment transactions			Equity method investment net losses / (earnings)			Non- controlling interest earnings		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP) - As Recast	$	876		$	(13	)	$	205		$	684		$	(633	)		(92.5	)%	$	—		$	(114	)	$	5	$	1,426		$	0.98
Simplify to Grow Program		151			(1	)		—			152			29						—			—			—		123			0.08
Intangible asset impairment charges		57			—			—			57			14						—			—			—		43			0.03
Mark-to-market (gains)/losses from derivatives		(20	)		—			(2	)		(18	)		(8	)					—			—			—		(10	)		(0.01	)
Acquisition-related costs		1			—			—			1			1						—			—			—		—			—
Divestiture-related costs		(4	)		—			—			(4	)		(1	)					—			—			—		(3	)		—
Net earnings from divestitures - KDP		—			—			—			—			—						—			1			—		(1	)		—
Gain on divestitures		(3	)		—			—			(3	)		1						—			—			—		(4	)		—
Remeasurement of net monetary position		1			—			—			1			—						—			—			—		1			—
Impact from pension participation changes		—			—			(3	)		3			—						—			—			—		3			—
CEO transition remuneration		3			—			—			3			—						—			—			—		3			—
Loss related to interest rate swaps		—			—			(111	)		111			—						—			—			—		111			0.08
Swiss tax reform net impacts		2			—			—			2			769						—			—			—		(767	)		(0.53	)
Equity method investee acquisition-related or other charges/benefits, net		—			—			—			—			2						—			(12	)		—		10			0.01
Rounding		1			—			—			1			—						—			—			—		1			—

Adjusted (Non-GAAP) - As Recast	$	1,065		$	(14	)	$	89		$	990		$	174			17.6	%	$	—		$	(125	)	$	5	$	936		$	0.64

Currency																												46			0.03

Adjusted @ Constant FX (Non-GAAP) - As Recast																											$	982		$	0.67

Diluted Average Shares Outstanding																															1,458

	For the Three Months Ended September 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			Gain on equity method investment transactions			Equity method investment net losses / (earnings)			Non- controlling interest earnings		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP) - As Recast	$	737		$	(19	)	$	86		$	670		$	310			46.3	%	$	(757	)	$	(84	)	$	3	$	1,198		$	0.81
Simplify to Grow Program		139			—			—			139			34						—			—			—		105			0.07
Intangible asset impairment charges		68			—			—			68			16						—			—			—		52			0.03
Mark-to-market (gains)/losses from derivatives		112			—			(1	)		113			12						—			—			—		101			0.07
Acquisition integration costs		(1	)		—			—			(1	)		—						—			—			—		(1	)		—
Acquisition-related costs		1			—			—			1			—						—			—			—		1			—
Net earnings from divestitures		(6	)		—			—			(6	)		—						—			—			—		(6	)		—
Net earnings from divestitures - KDP		—			—			—			—			(1	)					—			1			—		—			—
Remeasurement of net monetary position		13			—			—			13			—						—			—			—		13			0.01
Impact from pension participation changes		—			—			(3	)		3			1						—			—			—		2			—
CEO transition remuneration		4			—			—			4			1						—			—			—		3			—
Gain related to interest rate swaps		—			—			1			(1	)		—						—			—			—		(1	)		—
U.S. tax reform discrete net tax (benefit)/expense		—			—			—			—			(9	)					—			—			—		9			0.01
Gain on equity method investment transactions		—			—			—			—			(184	)					757			—			—		(573	)		(0.39	)
Equity method investee acquisition-related or other charges/benefits, net		—			—			—			—			2						—			(9	)		—		7			0.01
Rounding		1			—			—			1			—						—			—			—		1			—

Adjusted (Non-GAAP) - As Recast	$	1,068		$	(19	)	$	83		$	1,004		$	182			18.1	%	$	—		$	(92	)	$	3	$	911		$	0.62

Diluted Average Shares Outstanding																															1,480

⁽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 June 30, 2019
	Operating Income			Benefit plan non- service expense / (income)			Interest and other expense, net			Earnings before income taxes			Income taxes ⁽¹⁾			Effective tax rate			Loss on equity method investment transactions			Equity method investment net losses / (earnings)			Non- controlling interest earnings		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP) - As Recast	$	1,025		$	(12	)	$	101		$	936		$	216			23.1	%	$	25		$	(109	)	$	1	$	803		$	0.55
Simplify to Grow Program		83			(5	)		—			88			19						—			—			—		69			0.05
Mark-to-market (gains)/losses from derivatives		(33	)		—			—			(33	)		(3	)					—			—			—		(30	)		(0.02	)
Acquisition-related costs		1			—			—			1			—						—			—			—		1			—
Divestiture-related costs		11			—			—			11			1						—			—			—		10			0.01
Net earnings from divestitures		(5	)		—			—			(5	)		—						—			—			—		(5	)		(0.01	)
Net earnings from divestitures - KDP		—			—			—			—			(1	)					—			2			—		(1	)		—
Gain on divestitures		(41	)		—			—			(41	)		(3	)					—			—			—		(38	)		(0.03	)
Remeasurement of net monetary position		(1	)		—			—			(1	)		—						—			—			—		(1	)		—
Impact from pension participation changes		(35	)		—			—			(35	)		(9	)					—			—			—		(26	)		(0.02	)
CEO transition remuneration		3			—			—			3			—						—			—			—		3			—
U.S. tax reform discrete net tax (benefit)/expense		—			—			—			—			(1	)					—			—			—		1			—
Loss on equity method investment transactions		—			—			—			—			(2	)					(25	)		—			—		27			0.02
Equity method investee acquisition-related or other charges/benefits, net		—			—			—			—			3						—			(12	)		—		9			0.01

Adjusted (Non-GAAP) - As Recast	$	1,008		$	(17	)	$	101		$	924		$	220			23.8	%	$	—		$	(119	)	$	1	$	822		$	0.56

Currency																												53			0.04

Adjusted @ Constant FX (Non-GAAP) - As Recast																											$	875		$	0.60

Diluted Average Shares Outstanding																															1,458

	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			Gain on equity method investment transactions			Equity method investment net losses / (earnings)			Non- controlling interest earnings		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP) - As Recast	$	481		$	(15	)	$	248		$	248		$	15			6.0	%	$	—		$	(88	)	$	2	$	319		$	0.21
Simplify to Grow Program		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
Net earnings from divestitures		(2	)		—			—			(2	)		(2	)					—			—			—		—			—
Net earnings from divestitures - KDP		—			—			—			—			(1	)					—			—			—		1			—
Impact from pension participation changes		408			—			—			408			103						—			—			—		305			0.20
Impact from resolution of tax matters		11			—			(4	)		15			15						—			—			—		—			—
CEO transition remuneration		10			—			—			10			2						—			—			—		8			0.01
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 or other charges/benefits, net		—			—			—			—			1						—			(8	)		—		7			0.01
Rounding		2			—			—			2			—						—			—			—		2			—

Adjusted (Non-GAAP) - As Recast	$	1,016		$	(18	)	$	99		$	935		$	207			22.1	%	$	—		$	(96	)	$	2	$	822		$	0.55

Diluted Average Shares Outstanding																															1,488

⁽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 March 31, 2019
	Operating Income			Benefit plan non- service expense / (income)			Interest and other expense, net		Earnings before income taxes			Income taxes ⁽¹⁾			Effective tax rate			Gain on equity method investment transactions			Equity method investment net losses / (earnings)			Non- controlling interest earnings		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP) - As Recast	$	1,036		$	(17	)	$	80	$	973		$	189			19.4	%	$	(23	)	$	(166	)	$	6	$	967		$	0.66
Simplify to Grow Program		70			—			—		70			19						—			—			—		51			0.03
Mark-to-market (gains)/losses from derivatives		(16	)		—			—		(16	)		(3	)					—			—			—		(13	)		(0.01	)
Divestiture-related costs		(1	)		—			—		(1	)		—						—			—			—		(1	)		—
Net earnings from divestitures		(4	)		—			—		(4	)		—						—			—			—		(4	)		—
Net earnings from divestitures - KDP		—			—			—		—			—						—			1			—		(1	)		—
Remeasurement of net monetary position		2			—			—		2			—						—			—			—		2			—
CEO transition remuneration		3			—			—		3			—						—			—			—		3			—
U.S. tax reform discrete net tax (benefit)/expense		—			—			—		—			(1	)					—			—			—		1			—
Gain on equity method investment transactions		—			—			—		—			(5	)					23			—			—		(18	)		(0.01	)
Equity method investee acquisition-related or other charges/benefits, net		—			—			—		—			4						—			(17	)		—		13			0.01

Adjusted (Non-GAAP) - As Recast	$	1,090		$	(17	)	$	80	$	1,027		$	203			19.8	%	$	—		$	(182	)	$	6	$	1,000		$	0.68

Currency																											88			0.06

Adjusted @ Constant FX (Non-GAAP) - As Recast																										$	1,088		$	0.74

Diluted Average Shares Outstanding																														1,461

	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			Gain on equity method investment transactions			Equity method investment net losses / (earnings)			Non- controlling interest earnings		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP) - As Recast	$	1,224		$	(13	)	$	80	$	1,157		$	337			29.1	%	$	—		$	(229	)	$	6	$	1,043		$	0.69
Simplify to Grow Program		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	)		—
Net earnings from divestitures		(6	)		—			—		(6	)		1						—			—			—		(7	)		(0.01	)
Net earnings from divestitures - KDP		—			—			—		—			—						—			6			—		(6	)		—
CEO transition remuneration		4			—			—		4			1						—			—			—		3			—
Gain 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 or other charges/benefits, net		—			—			—		—			(26	)					—			94			—		(68	)		(0.04	)
Rounding		(1	)		—			—		(1	)		—						—			—			—		(1	)		—

Adjusted (Non-GAAP) - As Recast	$	1,127		$	(13	)	$	94	$	1,046		$	224			21.4	%	$	—		$	(129	)	$	6	$	945		$	0.63

Diluted Average Shares Outstanding																														1,505

⁽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 Twelve Months Ended December 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			Gain on equity method investment transactions			Equity method investment net losses / (earnings)			Non- controlling interest earnings		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP) - As Recast	$	3,312		$	(50	)	$	520		$	2,842		$	773			27.2	%	$	(778	)	$	(484	)	$	14	$	3,317		$	2.23
Simplify to Grow Program		626			(5	)		—			631			156						—			—			—		475			0.32
Intangible asset impairment charges		68			—			—			68			16						—			—			—		52			0.03
Mark-to-market (gains)/losses from derivatives		(141	)		—			1			(142	)		(10	)					—			—			—		(132	)		(0.09	)
Acquisition integration costs		3			—			—			3			—						—			—			—		3			—
Acquisition-related costs		13			—			—			13			3						—			—			—		10			0.01
Divestiture-related costs		(1	)		—			—			(1	)		(2	)					—			—			—		1			—
Net earnings from divestitures		(19	)		—			—			(19	)		—						—			—			—		(19	)		(0.02	)
Net earnings from divestitures - KDP		—			—			—			—			(2	)					—			8			—		(6	)		—
Remeasurement of net monetary position		11			—			—			11			—						—			—			—		11			0.01
Impact from pension participation changes		423			—			(6	)		429			108						—			—			—		321			0.22
Impact from resolution of tax matters		(15	)		—			(4	)		(11	)		6						—			—			—		(17	)		(0.01	)
CEO transition remuneration		22			—			—			22			5						—			—			—		17			0.01
Gain related to interest rate swaps		—			—			10			(10	)		(2	)					—			—			—		(8	)		(0.01	)
Loss on debt extinguishment and related expenses		—			—			(140	)		140			35						—			—			—		105			0.07
U.S. tax reform discrete net tax (benefit)/expense		—			—			—			—			(19	)					—			—			—		19			0.01
Gain on equity method investment transactions		—			—			—			—			(192	)					778			—			—		(586	)		(0.39	)
Equity method investee acquisition-related or other charges/benefits, net		—			—			—			—			(16	)					—			37			—		(21	)		(0.01	)

Adjusted (Non-GAAP) - As Recast	$	4,302		$	(55	)	$	381		$	3,976		$	859			21.6	%	$	—		$	(439	)	$	14	$	3,542		$	2.38

Currency																												35			0.03

Adjusted @ Constant FX (Non-GAAP) - As Recast																											$	3,577		$	2.41

Diluted Average Shares Outstanding																															1,486

	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			Gain on equity method investment transactions			Equity method investment net losses / (earnings)			Non- controlling interest earnings		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP) - As Recast	$	3,462		$	(44	)	$	382		$	3,124		$	666			21.3	%	$	(40	)	$	(315	)	$	14	$	2,799		$	1.83
Simplify to Grow Program		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		(92	)		—			—			(92	)		(16	)					—			6			—		(82	)		(0.06	)
Net earnings from divestitures - KDP		—			—			—			—			(1	)					—			3			—		(2	)		—
Gain 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 or other charges/benefits, net		—			—			—			—			10						—			(67	)		—		57			0.04
Rounding		(1	)		—			—			(1	)		—						—			—			—		(1	)		—

Adjusted (Non-GAAP) - As Recast	$	4,088		$	(59	)	$	440		$	3,707		$	860			23.2	%	$	—		$	(373	)	$	14	$	3,206		$	2.09

Diluted Average Shares Outstanding																															1,531

⁽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 Three Months Ended March 31,
	2020			2019			$ Change			% Change
Diluted EPS attributable to Mondelēz International (GAAP) - As Recast	$	0.51		$	0.66		$	(0.15	)		(22.7	)%
Simplify to Grow Program		0.03			0.03			—
Mark-to-market (gains)/losses from derivatives		0.11			(0.01	)		0.12
Loss related to interest rate swaps		0.06			—			0.06
Gain on equity method investment transactions		(0.04	)		(0.01	)		(0.03	)
Equity method investee acquisition-related or other charges/benefits, net		—			0.01			(0.01	)

Adjusted EPS (Non-GAAP) - As Recast	$	0.67		$	0.68		$	(0.01	)		(1.5	)%
Impact of unfavorable currency		0.03			—			0.03

Adjusted EPS @ Constant FX (Non-GAAP) - As Recast	$	0.70		$	0.68		$	0.02			2.9	%

Schedule 3.2

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Diluted EPS

(Unaudited)


	For the Twelve Months Ended December 31,
	2019			2018			$ Change			% Change
Diluted EPS attributable to Mondelēz International (GAAP) - As Recast	$	2.69		$	2.23		$	0.46			20.6	%
Simplify to Grow Program		0.24			0.32			(0.08	)
Intangible asset impairment charges		0.03			0.03			—
Mark-to-market (gains)/losses from derivatives		(0.05	)		(0.09	)		0.04
Acquisition-related costs		—			0.01			(0.01	)
Net earnings from divestitures		(0.01	)		(0.02	)		0.01
Gain on divestitures		(0.03	)		—			(0.03	)
Remeasurement of net monetary position		—			0.01			(0.01	)
Impact from pension participation changes		(0.02	)		0.22			(0.24	)
Impact from resolution of tax matters		0.05			(0.01	)		0.06
CEO transition remuneration		0.01			0.01			—
(Gain)/loss related to interest rate swaps		0.08			(0.01	)		0.09
Loss on debt extinguishment and related expenses		—			0.07			(0.07	)
Swiss tax reform net impacts		(0.53	)		—			(0.53	)
U.S. tax reform discrete net tax (benefit)/expense		—			0.01			(0.01	)
(Gain)/loss on equity method investment transactions		0.01			(0.39	)		0.40
Equity method investee acquisition-related or other charges/benefits, net		0.03			(0.01	)		0.04

Adjusted EPS (Non-GAAP) - As Recast	$	2.50		$	2.38		$	0.12			5.0	%
Impact of unfavorable currency		0.16			—			0.16

Adjusted EPS @ Constant FX (Non-GAAP) - As Recast	$	2.66		$	2.38		$	0.28			11.8	%

Schedule 3.3

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Diluted EPS

(Unaudited)


	For the Three Months Ended December 31,
	2019			2018			$ Change			% Change
Diluted EPS attributable to Mondelēz International (GAAP) - As Recast	$	0.50		$	0.51		$	(0.01	)		(2.0	)%
Simplify to Grow Program		0.07			0.10			(0.03	)
Mark-to-market (gains)/losses from derivatives		(0.01	)		0.02			(0.03	)
Impact from pension participation changes		—			0.01			(0.01	)
Impact from resolution of tax matters		0.04			(0.01	)		0.05
U.S. tax reform discrete net tax (benefit)/expense		—			(0.05	)		0.05
Gain on equity method investment transactions		—			(0.01	)		0.01
Equity method investee acquisition-related or other charges/benefits, net		0.01			0.02			(0.01	)

Adjusted EPS (Non-GAAP) - As Recast	$	0.61		$	0.59		$	0.02			3.4	%
Impact of unfavorable currency		0.03			—			0.03

Adjusted EPS @ Constant FX (Non-GAAP) - As Recast	$	0.64		$	0.59		$	0.05			8.5	%

Schedule 3.4

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Diluted EPS

(Unaudited)


	For the Three Months Ended September 30,
	2019			2018			$ Change			% Change
Diluted EPS attributable to Mondelēz International (GAAP) - As Recast	$	0.98		$	0.81		$	0.17			21.0	%
Simplify to Grow Program		0.08			0.07			0.01
Intangible asset impairment charges		0.03			0.03			—
Mark-to-market (gains)/losses from derivatives		(0.01	)		0.07			(0.08	)
Remeasurement of net monetary position		—			0.01			(0.01	)
Loss related to interest rate swaps		0.08			—			0.08
Swiss tax reform net impacts		(0.53	)		—			(0.53	)
U.S. tax reform discrete net tax (benefit)/expense		—			0.01			(0.01	)
Gain on equity method investment transactions		—			(0.39	)		0.39
Equity method investee acquisition-related or other charges/benefits, net		0.01			0.01			—

Adjusted EPS (Non-GAAP) - As Recast	$	0.64		$	0.62		$	0.02			3.2	%
Impact of unfavorable currency		0.03			—			0.03

Adjusted EPS @ Constant FX (Non-GAAP) - As Recast	$	0.67		$	0.62		$	0.05			8.1	%

Schedule 3.5

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Diluted EPS

(Unaudited)


	For the Three Months Ended June 30,
	2019			2018			$ Change			% Change
Diluted EPS attributable to Mondelēz International (GAAP) - As Recast	$	0.55		$	0.21		$	0.34			161.9	%
Simplify to Grow Program		0.05			0.09			(0.04	)
Mark-to-market (gains)/losses from derivatives		(0.02	)		(0.05	)		0.03
Acquisition-related costs		—			0.01			(0.01	)
Divestiture-related costs		0.01			—			0.01
Net earnings from divestitures		(0.01	)		—			(0.01	)
Gain on divestitures		(0.03	)		—			(0.03	)
Impact from pension participation changes		(0.02	)		0.20			(0.22	)
CEO transition remuneration		—			0.01			(0.01	)
Loss on debt extinguishment and related expenses		—			0.07			(0.07	)
Net loss on equity method investment transactions		0.02			—			0.02
Equity method investee acquisition-related or other charges/benefits, net		0.01			0.01			—

Adjusted EPS (Non-GAAP) - As Recast	$	0.56		$	0.55		$	0.01			1.8	%
Impact of unfavorable currency		0.04			—			0.04

Adjusted EPS @ Constant FX (Non-GAAP) - As Recast	$	0.60		$	0.55		$	0.05			9.1	%

Schedule 3.6

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Diluted EPS

(Unaudited)


	For the Three Months Ended March 31,
	2019			2018			$ Change			% Change
Diluted EPS attributable to Mondelēz International (GAAP) - As Recast	$	0.66		$	0.69		$	(0.03	)		(4.3	)%
Simplify to Grow Program		0.03			0.06			(0.03	)
Mark-to-market (gains)/losses from derivatives		(0.01	)		(0.12	)		0.11
Net earnings from divestitures		—			(0.01	)		0.01
Gain related to interest rate swaps		—			(0.01	)		0.01
U.S. tax reform discrete net tax (benefit)/expense		—			0.06			(0.06	)
Gain on equity method investment transactions		(0.01	)		—			(0.01	)
Equity method investee acquisition-related or other charges/benefits, net		0.01			(0.04	)		0.05

Adjusted EPS (Non-GAAP) - As Recast	$	0.68		$	0.63		$	0.05			7.9	%
Impact of unfavorable currency		0.06			—			0.06

Adjusted EPS @ Constant FX (Non-GAAP) - As Recast	$	0.74		$	0.63		$	0.11			17.5	%

Schedule 3.7

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Diluted EPS

(Unaudited)


	For the Twelve Months Ended December 31,
	2018			2017			$ Change			% Change
Diluted EPS attributable to Mondelēz International (GAAP) - As Recast	$	2.23		$	1.83		$	0.40			21.9	%
Simplify to Grow Program		0.32			0.39			(0.07	)
Intangible asset impairment charges		0.03			0.05			(0.02	)
Mark-to-market (gains)/losses from derivatives		(0.09	)		0.06			(0.15	)
Malware incident incremental expenses		—			0.04			(0.04	)
Acquisition-related costs		0.01			—			0.01
Divestiture-related costs		—			0.02			(0.02	)
Net earnings from divestitures		(0.02	)		(0.06	)		0.04
Gain on divestitures		—			(0.11	)		0.11
Remeasurement of net monetary position		0.01			—			0.01
Impact from pension participation changes		0.22			—			0.22
Impact from resolution of tax matters		(0.01	)		(0.13	)		0.12
CEO transition remuneration		0.01			0.01			—
Gain related to interest rate swaps		(0.01	)		—			(0.01	)
Loss on debt extinguishment and related expenses		0.07			—			0.07
U.S. tax reform discrete net tax (benefit)/expense		0.01			(0.03	)		0.04
Gain on equity method investment transactions		(0.39	)		(0.02	)		(0.37	)
Equity method investee acquisition-related or other charges/benefits, net		(0.01	)		0.04			(0.05	)

Adjusted EPS (Non-GAAP) - As Recast	$	2.38		$	2.09		$	0.29			13.9	%
Impact of unfavorable currency		0.03			—			0.03

Adjusted EPS @ Constant FX (Non-GAAP) - As Recast	$	2.41		$	2.09		$	0.32			15.3	%