Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Schedule of Segment Net Revenues and Earnings

Our segment net revenues and earnings were:

	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2020			2019			2020			2019
	(in millions)
Net revenues:
Latin America	$	511		$	737		$	1,237		$	1,537
AMEA	1,237			1,352			2,739			2,893
Europe	2,138			2,247			4,722			4,798
North America	2,025			1,726			3,920			3,372
Net revenues	$	5,911		$	6,062		$	12,618		$	12,600
Earnings before income taxes:
Operating income:
Latin America	$	(6	)	$	68		$	72		$	166
AMEA	171			191			405			447
Europe	297			408			769			908
North America	424			407			805			726
Unrealized (losses)/gains on hedging activities (mark-to-market impacts)	(2		)	33			(187		)	49
General corporate expenses	(111		)	(79		)	(187		)	(188		)
Amortization of intangibles	(50		)	(43		)	(93		)	(87		)
Net gain on divestiture	—			41			—			41
Acquisition-related costs	(10		)	(1		)	(15		)	(1		)
Operating income	713			1,025			1,569			2,061
Benefit plan non-service income	31			12			64			29
Interest and other expense, net	(85		)	(101		)	(275		)	(181		)
Earnings before income taxes	$	659		$	936		$	1,358		$	1,909

Schedule of Net Revenues by Product Category

Net revenues by product category were:

	For the Three Months Ended June 30, 2020
	Latin America		AMEA		Europe		North America		Total
	(in millions)
Biscuits	$	154	$	458	$	694	$	1,804	$	3,110
Chocolate	119		361		1,001		39		1,520
Gum & Candy	65		153		135		182		535
Beverages	90		157		20		—		267
Cheese & Grocery	83		108		288		—		479
Total net revenues	$	511	$	1,237	$	2,138	$	2,025	$	5,911
	For the Three Months Ended June 30, 2019
	Latin America		AMEA		Europe		North America		Total
	(in millions)
Biscuits	$	186	$	405	$	767	$	1,451	$	2,809
Chocolate	157		438		1,006		42		1,643
Gum & Candy	209		224		181		233		847
Beverages	108		169		20		—		297
Cheese & Grocery	77		116		273		—		466
Total net revenues	$	737	$	1,352	$	2,247	$	1,726	$	6,062
	For the Six Months Ended June 30, 2020
	Latin America		AMEA		Europe		North America		Total
	(in millions)
Biscuits	$	328	$	966	$	1,440	$	3,402	$	6,136
Chocolate	313		904		2,364		95		3,676
Gum & Candy	247		338		308		423		1,316
Beverages	192		328		45		—		565
Cheese & Grocery	157		203		565		—		925
Total net revenues	$	1,237	$	2,739	$	4,722	$	3,920	$	12,618
	For the Six Months Ended June 30, 2019
	Latin America		AMEA		Europe		North America		Total
	(in millions)
Biscuits	$	356	$	866	$	1,501	$	2,823	$	5,546
Chocolate	387		995		2,366		101		3,849
Gum & Candy	409		449		354		448		1,660
Beverages	231		341		46		—		618
Cheese & Grocery	154		242		531		—		927
Total net revenues	$	1,537	$	2,893	$	4,798	$	3,372	$	12,600