8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 11, 2019

MONDELĒZ INTERNATIONAL, INC.

(Exact name of registrant as specified in its charter)

Virginia	1-16483	52-2284372
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

Three Parkway North, Deerfield, Illinois 60015

(Address of principal executive offices, including zip code)

(847) 943-4000

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Tile of each class	Trading Symbol(s)	Name of each exchange on which registered
Class A Common Stock, no par value	MDLZ	The Nasdaq Global Select Market
2.375% Notes due 2021	MDLZ21	The Nasdaq Stock Market LLC
1.000% Notes due 2022	MDLZ22	The Nasdaq Stock Market LLC
1.625% Notes due 2023	MDLZ23	The Nasdaq Stock Market LLC
1.625% Notes due 2027	MDLZ27	The Nasdaq Stock Market LLC
2.375% Notes due 2035	MDLZ35	The Nasdaq Stock Market LLC
4.500% Notes due 2035	MDLZ35A	The Nasdaq Stock Market LLC
3.875% Notes due 2045	MDLZ45	The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

Item 7.01. Regulation FD Disclosure.

Recent Business Divestiture

Mondelēz International, Inc. and subsidiaries (collectively, “we,” “our” or “Mondelēz International”) are furnishing this current report to provide supplemental financial information regarding the effect of a recent business divestiture on our non-GAAP financial measures.

On May 28, 2019, we completed the sale of our Kraft-branded cheese business in the Middle East and Africa, within our Asia, Middle East & Africa (“AMEA”) segment, to Arla Foods of Denmark.

As a result of this divestiture, and consistent with the definitions of our non-GAAP financial measures, we will remove the results of this operation from our non-GAAP financial results going forward and for all historical periods presented. Our U.S. GAAP results will not change and will continue to include the results of the divested operations through the divestiture closing date noted above. See the summary chart below and Exhibit 99.1 for the revised unaudited non-GAAP financial information for the first quarter of 2019, all quarters of 2018 and 2017 and for the years ended December 31, 2018, 2017 and 2016.

Mondelēz International, Inc. and Subsidiaries

Revised Non-GAAP Financial Measures due to Business Divestiture

(percentages, except per share data)

(Unaudited)

	2017 FY			2018 FY			2018												2019
							Q1			Q2			Q3			Q4			Q1
Reported (GAAP)
Net revenues growth		(0.1	)%		0.2	%		5.5	%		2.1	%		(3.7	)%		(2.8	)%		(3.4	)%
Gross profit %		38.7	%		39.9	%		42.1	%		41.6	%		38.4	%		37.6	%		39.7	%
Operating income margin		13.4	%		12.8	%		18.1	%		7.9	%		11.7	%		12.8	%		15.8	%
Diluted earnings per share attributable to Mondelēz International	$	1.85		$	2.28		$	0.70		$	0.21		$	0.81		$	0.56		$	0.63
Adjusted (non-GAAP)
Organic Net revenue Growth		0.9	%		2.4	%		2.4	%		3.5	%		1.2	%		2.5	%		3.7	%
Adjusted Gross Profit %		39.7	%		40.1	%		39.4	%		40.4	%		40.6	%		40.0	%		39.7	%
Adjusted Operating Income margin		16.1	%		16.7	%		16.7	%		16.7	%		17.1	%		16.2	%		16.7	%
Adjusted EPS	$	2.14		$	2.43		$	0.63		$	0.55		$	0.62		$	0.63		$	0.65
Revised Adjusted (non-GAAP)
Organic Net Revenue Growth		1.0	%		2.4	%		2.5	%		3.5	%		1.2	%		2.5	%		3.7	%
Adjusted Gross Profit %		39.8	%		40.2	%		39.5	%		40.6	%		40.7	%		40.1	%		39.8	%
Adjusted Operating Income margin		16.0	%		16.7	%		16.7	%		16.7	%		17.1	%		16.2	%		16.8	%
Adjusted EPS	$	2.12		$	2.42		$	0.62		$	0.55		$	0.62		$	0.63		$	0.65

Non-GAAP Financial Measures

We use non-GAAP financial information and believe it is useful to investors as it provides additional information to facilitate comparisons of historical operating results, identify trends in our underlying operating results, and provide additional insight and transparency on how we evaluate our business. We use non-GAAP financial measures to budget, make operating and strategic decisions and evaluate our performance. We have detailed below the non-GAAP adjustments that we make in our non-GAAP definitions. The adjustments generally fall within the following categories: acquisition & divestiture activities, gains and losses on intangible asset sales and non-cash impairments, major program restructuring activities, constant currency and related adjustments, major program financing and hedging activities and other major items affecting comparability of operating results. We believe the non-GAAP measures should always be considered along with the related U.S. GAAP financial measures.

The definitions of our non-GAAP financial measures did not change as a result of this divestiture. For all periods presented in this Form 8-K, our non-GAAP financial measures are defined below and reflect how we evaluate our current and prior-year operating results. These definitions can also be found within our historically reported Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q for the periods presented. As new events or circumstances arise, this definition could change over time. When our definitions change, we provide the updated definitions and present the related non-GAAP historical results on a comparable basis ⁽¹⁾.

Organic Net Revenue – defined as net revenues excluding the impacts of acquisitions, divestitures ⁽²⁾ and currency rate fluctuations ⁽³⁾. We believe that Organic Net Revenue reflects the underlying growth from the ongoing activities of our business and provides improved comparability of results. We also evaluate Organic Net Revenue growth from emerging and developed markets.

Adjusted Gross Profit – defined as gross profit excluding the Simplify to Grow Program ⁽⁴⁾; acquisition integration costs; the operating results of divestitures ⁽²⁾; mark-to-market impacts from commodity and forecasted currency transaction derivative contracts ⁽⁵⁾; and incremental expenses related to the 2017 malware incident. We also present “Adjusted Gross Profit margin,” which is subject to the same adjustments as Adjusted Gross Profit. We believe that Adjusted Gross Profit and Adjusted Gross Profit margin provide improved comparability of underlying operating results. We also evaluate growth in Adjusted Gross Profit on a constant currency basis ⁽³⁾.

Adjusted Operating Income and Adjusted Segment Operating Income – defined as operating income (or segment operating income) excluding the impacts of the items listed in the Adjusted Gross Profit definition as well as gains or losses (including non-cash impairment charges) on goodwill and intangible assets; divestiture ⁽²⁾ or acquisition gains or losses and related divestiture, acquisition and integration costs; remeasurement of net monetary position ⁽⁶⁾; impacts from the resolution of tax matters ⁽⁷⁾; CEO transition remuneration ⁽⁸⁾; and impact from pension participation changes ⁽⁹⁾. We also present “Adjusted Operating Income margin” and “Adjusted Segment Operating Income margin,” which are subject to the same adjustments as Adjusted Operating Income and Adjusted Segment Operating Income. We believe that Adjusted Operating Income, Adjusted Segment Operating Income, Adjusted Operating Income margin and Adjusted Segment Operating Income margin provide improved comparability of underlying operating results. We also evaluate growth in Adjusted Operating Income and Adjusted Segment Operating Income on a constant currency basis ⁽³⁾.

Adjusted EPS – defined as diluted EPS attributable to Mondelēz International from continuing operations excluding the impacts of the items listed in the Adjusted Operating Income definition as well as losses on debt extinguishment and related expenses; gain on equity method investment transactions; net earnings from divestitures ⁽²⁾; gains or losses on interest rate swaps no longer designated as accounting cash flow hedges due to changed financing and hedging plans; and U.S. tax reform discrete impacts ⁽¹⁰⁾. Similarly, within Adjusted EPS, our equity method investment net earnings exclude our proportionate share of our investees’ unusual or infrequent items ⁽¹¹⁾. The tax impact of each of the items excluded from our GAAP results was computed based on the facts and tax assumptions associated with each item and such impacts have also been excluded from Adjusted EPS. We believe that Adjusted EPS provides improved comparability of underlying operating results. We also evaluate growth in our Adjusted EPS on a constant currency basis ⁽³⁾.

(1) When items no longer impact our current or future presentation of non-GAAP operating results, we remove these items from our non-GAAP definitions.

(2) Divestitures include completed sales of businesses and exits of major product lines upon completion of a sale or licensing agreement. Refer to Note 2, Divestitures and Acquisitions, in our Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2019 for more information on divestitures and acquisitions impacting the comparability of our results.

(3) Constant currency operating results are calculated by dividing or multiplying, as appropriate, the current-period local currency operating results by the currency exchange rates used to translate the financial statements in the comparable prior-year period to determine what the current-period U.S. dollar operating results would have been if the currency exchange rate has not changed from comparable prior-year period.

(4) Non-GAAP adjustments related to the Simplify to Grow Program reflect costs incurred that relate to the objectives of our program to transform our supply chain network and organizational structure. Costs that do not meet the program objectives are not reflected in the non-GAAP adjustments.

(5) During the third quarter of 2016, we began to exclude unrealized gains and losses (mark-to-market impacts) from outstanding commodity and forecasted currency transaction derivatives from our non-GAAP earnings measures until such time that the related exposures impact our operating results. Since we purchase commodity and forecasted currency contracts to mitigate price volatility primarily for inventory requirements in future periods, we made this adjustment to remove the volatility of these future inventory purchases on current operating results to facilitate comparisons of our underlying operating performance across periods. We also discontinued designating commodity and forecasted currency transaction derivatives for hedge accounting treatment. To facilitate comparisons of our underlying operating results, we have recast all historical non-GAAP earnings measures to exclude the mark-to-market impacts.

(6) During the third quarter of 2018, as we began to apply highly inflationary accounting for Argentina (refer to Note 1, Basis of Presentation, in our Annual Report on Form 10-K for the year ended December 31, 2018), we

excluded the remeasurement gains or losses related to remeasuring net monetary assets or liabilities in Argentina during the period to be consistent with our prior accounting for these remeasurement gains/losses for Venezuela when it was subject to highly inflationary accounting prior to 2016.

(7) Refer to Note 13, Commitments and Contingencies – Tax Matters, in our Annual Report on Form 10-K for the year ended December 31, 2018 for additional information.

(8) On November 20, 2017, Dirk Van de Put succeeded Irene Rosenfeld as CEO of Mondelēz International in advance of her retirement at the end of March 2018. In order to incent Mr. Van de Put to join us, we provided him compensation with a total combined target value of $42.5 million to make him whole for incentive awards he forfeited or grants that were not made to him when he left his former employer. The compensation we granted took the form of cash, deferred stock units, performance share units and stock options. In connection with Irene Rosenfeld’s retirement, we made her outstanding grants of performance share units for the 2016-2018 and 2017-2019 performance cycles eligible for continued vesting and approved a $0.5 million salary for her service as Chairman from January through March 2018. We refer to these elements of Mr. Van de Put’s and Ms. Rosenfeld’s compensation arrangements together as “CEO transition remuneration.” We are excluding amounts we expense as CEO transition remuneration from our non-GAAP results because those amounts are not part of our regular compensation program and are incremental to amounts we would have incurred as ongoing CEO compensation. As a result, in 2017, we excluded amounts expensed for the cash payment to Mr. Van de Put and partial vesting of his equity grants. In 2018, we excluded amounts paid for Ms. Rosenfeld’s service as Chairman and partial vesting of Mr. Van de Put’s and Ms. Rosenfeld’s equity grants. In 2019, we excluded amounts related to the partial vesting of Mr. Van de Put’s equity grants.

(9) The impact from pension participation changes represents the charges incurred when employee groups are withdrawn from multiemployer pension plans and other changes in employee group pension plan participation. We exclude these charges from our non-GAAP results because those amounts do not reflect our ongoing pension obligations. See Note 11, Benefit Plans, in our Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2019 for more information on the multiemployer pension plan withdrawal.

(10) On December 22, 2017, the United States enacted tax reform legislation that included a broad range of business tax provisions. We exclude the discrete U.S. tax reform impacts from our Adjusted EPS as they do not reflect our ongoing tax obligations under U.S. tax reform. Refer to our Annual Report on Form 10-K for the year ended December 31, 2018 for more information.

(11) We have excluded our proportionate share of our equity method investees’ unusual or infrequent items such as acquisition and divestiture related costs, restructuring program costs and discrete U.S. tax reform impacts, in order to provide investors with a comparable view of our performance across periods. Although we have shareholder rights and board representation commensurate with our ownership interests in our equity method investees and review the underlying operating results and unusual or infrequent items with them each reporting period, we do not have direct control over their operations or resulting revenue and expenses. Our use of equity method investment net earnings on an adjusted basis is not intended to imply that we have any such control. Our GAAP “diluted EPS attributable to Mondelēz International from continuing operations” includes all of the investees’ unusual and infrequent items.

We believe that the presentation of these non-GAAP financial measures, when considered together with our U.S. GAAP financial measures and the reconciliations to the corresponding U.S. GAAP financial measures, helps provide a more complete understanding of the factors and trends affecting our business than could be obtained absent these disclosures. Because non-GAAP financial measures vary among companies, the non-GAAP financial measures presented in this report may not be comparable to similarly titled measures used by other companies. Our use of these non-GAAP financial measures is not meant to be considered in isolation or as a substitute for any U.S. GAAP financial measure. A limitation of the non-GAAP financial measures is they do not include all items of income and expense that affect us and have an impact on our U.S. GAAP reported results. The best way this limitation can be addressed is by evaluating our non-GAAP financial measures in combination with our U.S. GAAP reported results and carefully evaluating the reconciliations of U.S. GAAP reported figures to the non-GAAP financial measures.

Financial Schedules

Exhibit 99.1 to this Form 8-K contains financial schedules that provide the reconciliations for our non-GAAP financial measures before and after the adjustments made for this business divestiture for the first quarter of 2019, all quarters of 2018 and 2017 and for the years ended December 31, 2018, 2017 and 2016.

Item 9.01. Financial Statements and Exhibits.

(a) The following exhibit is being furnished with this Current Report on Form 8-K.

99.1 Financial schedules – Unaudited Non-GAAP Financial Information.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

MONDELĒZ INTERNATIONAL, INC.
By:	/s/ Luca Zaramella
Name:	Luca Zaramella
Title:	Executive Vice President and
	Chief Financial Officer

Date: July 11, 2019

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

Reconciliation of GAAP to Non-GAAP Measures

Net Revenues

(in millions of U.S. dollars)

(Unaudited)

	Latin America			AMEA			Europe			North America			Mondelēz International			Emerging Markets			Developed Markets
For the Three Months Ended March 31, 2019
Reported (GAAP)	$	800		$	1,541		$	2,551		$	1,646		$	6,538		$	2,502		$	4,036
Acquisition		—			—			—			(20	)		(20	)		—			(20	)
Currency		166			95			229			8			498			299			199
Organic (Non-GAAP)	$	966		$	1,636		$	2,780		$	1,634		$	7,016		$	2,801		$	4,215
MEA cheese business divestiture		—			(33	)		—			—			(33	)		(33	)		—
Revised Organic (Non-GAAP)	$	966		$	1,603		$	2,780		$	1,634		$	6,983		$	2,768		$	4,215
For the Three Months Ended March 31, 2018
Reported (GAAP)	$	891		$	1,542		$	2,706		$	1,626		$	6,765		$	2,584		$	4,181
Divestitures		—			—			—			—			—			—			—
Organic (Non-GAAP)	$	891		$	1,542		$	2,706		$	1,626		$	6,765		$	2,584		$	4,181
MEA cheese business divestiture		—			(31	)		—			—			(31	)		(31	)		—
Revised Organic (Non-GAAP)	$	891		$	1,511		$	2,706		$	1,626		$	6,734		$	2,553		$	4,181
% Change
Reported (GAAP)		(10.2	)%		(0.1	)%		(5.7	)%		1.2	%		(3.4	)%		(3.2	)%		(3.5	)%
Organic (Non-GAAP)		8.4	%		6.1	%		2.7	%		0.5	%		3.7	%		8.4	%		0.8	%
Revised Organic (Non-GAAP)		8.4	%		6.1	%		2.7	%		0.5	%		3.7	%		8.4	%		0.8	%

Schedule 1.2

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Net Revenues

(in millions of U.S. dollars)

(Unaudited)

	Latin America			AMEA			Europe			North America			Mondelēz International			Emerging Markets			Developed Markets
For the Twelve Months Ended December 31, 2018
Reported (GAAP)	$	3,202		$	5,729		$	10,122		$	6,885		$	25,938		$	9,659		$	16,279
Acquisition		—			—			—			(52	)		(52	)		—			(52	)
Currency		493			74			(228	)		4			343			604			(261	)
Organic (Non-GAAP)	$	3,695		$	5,803		$	9,894		$	6,837		$	26,229		$	10,263		$	15,966
MEA cheese business divestiture		—			(126	)		—			—			(126	)		(126	)		—
Revised Organic (Non-GAAP)	$	3,695		$	5,677		$	9,894		$	6,837		$	26,103		$	10,137		$	15,966
For the Twelve Months Ended December 31, 2017
Reported (GAAP)	$	3,566		$	5,739		$	9,794		$	6,797		$	25,896		$	9,707		$	16,189
Divestitures		—			(133	)		(137	)		—			(270	)		—			(270	)
Organic (Non-GAAP)	$	3,566		$	5,606		$	9,657		$	6,797		$	25,626		$	9,707		$	15,919
MEA cheese business divestiture		—			(132	)		—			—			(132	)		(132	)		—
Revised Organic (Non-GAAP)	$	3,566		$	5,474		$	9,657		$	6,797		$	25,494		$	9,575		$	15,919
% Change
Reported (GAAP)		(10.2	)%		(0.2	)%		3.3	%		1.3	%		0.2	%		(0.5	)%		0.6	%
Organic (Non-GAAP)		3.6	%		3.5	%		2.5	%		0.6	%		2.4	%		5.7	%		0.3	%
Revised Organic (Non-GAAP)		3.6	%		3.7	%		2.5	%		0.6	%		2.4	%		5.9	%		0.3	%

Schedule 1.3

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Net Revenues

(in millions of U.S. dollars)

(Unaudited)

	Latin America			AMEA			Europe			North America			Mondelēz International			Emerging Markets			Developed Markets
For the Three Months Ended December 31, 2018
Reported (GAAP)	$	763		$	1,429		$	2,752		$	1,829		$	6,773		$	2,441		$	4,332
Acquisition		—			—			—			(22	)		(22	)		—			(22	)
Currency		172			74			128			9			383			283			100
Organic (Non-GAAP)	$	935		$	1,503		$	2,880		$	1,816		$	7,134		$	2,724		$	4,410
MEA cheese business divestiture		—			(34	)		—			—			(34	)		(34	)		—
Revised Organic (Non-GAAP)	$	935		$	1,469		$	2,880		$	1,816		$	7,100		$	2,690		$	4,410
For the Three Months Ended December 31, 2017
Reported (GAAP)	$	900		$	1,449		$	2,816		$	1,801		$	6,966		$	2,557		$	4,409
Divestitures		—			(4	)		(2	)		—			(6	)		—			(6	)
Organic (Non-GAAP)	$	900		$	1,445		$	2,814		$	1,801		$	6,960		$	2,557		$	4,403
MEA cheese business divestiture		—			(33	)		—			—			(33	)		(33	)		—
Revised Organic (Non-GAAP)	$	900		$	1,412		$	2,814		$	1,801		$	6,927		$	2,524		$	4,403
% Change
Reported (GAAP)		(15.2	)%		(1.4	)%		(2.3	)%		1.6	%		(2.8	)%		(4.5	)%		(1.7	)%
Organic (Non-GAAP)		3.9	%		4.0	%		2.3	%		0.8	%		2.5	%		6.5	%		0.2	%
Revised Organic (Non-GAAP)		3.9	%		4.0	%		2.3	%		0.8	%		2.5	%		6.6	%		0.2	%

Schedule 1.4

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Net Revenues

(in millions of U.S. dollars)

(Unaudited)

	Latin America			AMEA			Europe			North America			Mondelēz International			Emerging Markets			Developed Markets
For the Three Months Ended September 30, 2018
Reported (GAAP)	$	774		$	1,398		$	2,361		$	1,755		$	6,288		$	2,325		$	3,963
Acquisition		—			—			—			(23	)		(23	)		—			(23	)
Currency		176			68			71			8			323			266			57
Organic (Non-GAAP)	$	950		$	1,466		$	2,432		$	1,740		$	6,588		$	2,591		$	3,997
MEA cheese business divestiture		—			(29	)		—			—			(29	)		(29	)		—
Revised Organic (Non-GAAP)	$	950		$	1,437		$	2,432		$	1,740		$	6,559		$	2,562		$	3,997
For the Three Months Ended September 30, 2017
Reported (GAAP)	$	908		$	1,405		$	2,442		$	1,775		$	6,530		$	2,444		$	4,086
Divestitures		—			(4	)		(14	)		—			(18	)		—			(18	)
Organic (Non-GAAP)	$	908		$	1,401		$	2,428		$	1,775		$	6,512		$	2,444		$	4,068
MEA cheese business divestiture		—			(30	)		—			—			(30	)		(30	)		—
Revised Organic (Non-GAAP)	$	908		$	1,371		$	2,428		$	1,775		$	6,482		$	2,414		$	4,068
% Change
Reported (GAAP)		(14.8	)%		(0.5	)%		(3.3	)%		(1.1	)%		(3.7	)%		(4.9	)%		(3.0	)%
Organic (Non-GAAP)		4.6	%		4.6	%		0.2	%		(2.0	)%		1.2	%		6.0	%		(1.7	)%
Revised Organic (Non-GAAP)		4.6	%		4.8	%		0.2	%		(2.0	)%		1.2	%		6.1	%		(1.7	)%

Schedule 1.5

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Net Revenues

(in millions of U.S. dollars)

(Unaudited)

	Latin America			AMEA			Europe			North America			Mondelēz International			Emerging Markets			Developed Markets
For the Three Months Ended June 30, 2018
Reported (GAAP)	$	774		$	1,360		$	2,303		$	1,675		$	6,112		$	2,309		$	3,803
Acquisition		—			—			—			(7	)		(7	)		—			(7	)
Currency		106			(10	)		(116	)		(6	)		(26	)		104			(130	)
Organic (Non-GAAP)	$	880		$	1,350		$	2,187		$	1,662		$	6,079		$	2,413		$	3,666
MEA cheese business divestiture		—			(32	)		—			—			(32	)		(32	)		—
Revised Organic (Non-GAAP)	$	880		$	1,318		$	2,187		$	1,662		$	6,047		$	2,381		$	3,666
For the Three Months Ended June 30, 2017
Reported (GAAP)	$	848		$	1,394		$	2,171		$	1,573		$	5,986		$	2,304		$	3,682
Divestitures		—			(66	)		(44	)		—			(110	)		—			(110	)
Organic (Non-GAAP)	$	848		$	1,328		$	2,127		$	1,573		$	5,876		$	2,304		$	3,572
MEA cheese business divestiture		—			(33	)		—			—			(33	)		(33	)		—
Revised Organic (Non-GAAP)	$	848		$	1,295		$	2,127		$	1,573		$	5,843		$	2,271		$	3,572
% Change
Reported (GAAP)		(8.7	)%		(2.4	)%		6.1	%		6.5	%		2.1	%		0.2	%		3.3	%
Organic (Non-GAAP)		3.8	%		1.7	%		2.8	%		5.7	%		3.5	%		4.7	%		2.6	%
Revised Organic (Non-GAAP)		3.8	%		1.8	%		2.8	%		5.7	%		3.5	%		4.8	%		2.6	%

Schedule 1.6

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Net Revenues

(in millions of U.S. dollars)

(Unaudited)

	Latin America			AMEA			Europe			North America			Mondelēz International			Emerging Markets			Developed Markets
For the Three Months Ended March 31, 2018
Reported (GAAP)	$	891		$	1,542		$	2,706		$	1,626		$	6,765		$	2,584		$	4,181
Currency		39			(58	)		(311	)		(7	)		(337	)		(49	)		(288	)
Organic (Non-GAAP)	$	930		$	1,484		$	2,395		$	1,619		$	6,428		$	2,535		$	3,893
MEA cheese business divestiture		—			(31	)		—			—			(31	)		(31	)		—
Revised Organic (Non-GAAP)	$	930		$	1,453		$	2,395		$	1,619		$	6,397		$	2,504		$	3,893
For the Three Months Ended March 31, 2017
Reported (GAAP)	$	910		$	1,491		$	2,365		$	1,648		$	6,414		$	2,402		$	4,012
Divestitures		—			(59	)		(77	)		—			(136	)		—			(136	)
Organic (Non-GAAP)	$	910		$	1,432		$	2,288		$	1,648		$	6,278		$	2,402		$	3,876
MEA cheese business divestiture		—			(36	)		—			—			(36	)		(36	)		—
Revised Organic (Non-GAAP)	$	910		$	1,396		$	2,288		$	1,648		$	6,242		$	2,366		$	3,876
% Change
Reported (GAAP)		(2.1	)%		3.4	%		14.4	%		(1.3	)%		5.5	%		7.6	%		4.2	%
Organic (Non-GAAP)		2.2	%		3.6	%		4.7	%		(1.8	)%		2.4	%		5.5	%		0.4	%
Revised Organic (Non-GAAP)		2.2	%		4.1	%		4.7	%		(1.8	)%		2.5	%		5.8	%		0.4	%

Schedule 1.7

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Net Revenues

(in millions of U.S. dollars)

(Unaudited)

	Latin America			AMEA			Europe			North America			Mondelēz International			Emerging Markets			Developed Markets
For the Twelve Months Ended December 31, 2017
Reported (GAAP)	$	3,566		$	5,739		$	9,794		$	6,797		$	25,896		$	9,707		$	16,189
Divestitures		—			(133	)		(137	)		—			(270	)		—			(270	)
Acquisition		—			—			(59	)		—			(59	)		—			(59	)
Currency		(62	)		99			(96	)		(18	)		(77	)		(19	)		(58	)
Organic (Non-GAAP)	$	3,504		$	5,705		$	9,502		$	6,779		$	25,490		$	9,688		$	15,802
MEA cheese business divestiture		—			(132	)		—			—			(132	)		(132	)		—
Revised Organic (Non-GAAP)	$	3,504		$	5,573		$	9,502		$	6,779		$	25,358		$	9,556		$	15,802
For the Twelve Months Ended December 31, 2016
Reported (GAAP)	$	3,392		$	5,816		$	9,755		$	6,960		$	25,923		$	9,357		$	16,566
Divestitures		(8	)		(261	)		(371	)		(13	)		(653	)		(10	)		(643	)
Organic (Non-GAAP)	$	3,384		$	5,555		$	9,384		$	6,947		$	25,270		$	9,347		$	15,923
MEA cheese business divestiture		—			(161	)		—			—			(161	)		(161	)		—
Revised Organic (Non-GAAP)	$	3,384		$	5,394		$	9,384		$	6,947		$	25,109		$	9,186		$	15,923
% Change
Reported (GAAP)		5.1	%		(1.3	)%		0.4	%		(2.3	)%		(0.1	)%		3.7	%		(2.3	)%
Organic (Non-GAAP)		3.5	%		2.7	%		1.3	%		(2.4	)%		0.9	%		3.6	%		(0.8	)%
Revised Organic (Non-GAAP)		3.5	%		3.3	%		1.3	%		(2.4	)%		1.0	%		4.0	%		(0.8	)%

Schedule 2.1

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Gross Profit / Operating Income

(in millions of U.S. dollars)

(Unaudited)

	For the Three Months Ended March 31, 2019
	Net Revenues			Gross Profit			Gross Profit Margin			Operating Income			Operating Income Margin
Reported (GAAP)	$	6,538		$	2,593			39.7	%	$	1,036			15.8	%
Simplify to Grow Program		—			21						70
Mark-to-market (gains)/losses from derivatives		—			(17	)					(16	)
Divestiture-related costs		—			—						(1	)
Remeasurement of net monetary position		—			—						2
CEO transition remuneration		—			—						3
Adjusted (Non-GAAP)	$	6,538		$	2,597			39.7	%	$	1,094			16.7	%
Operating income from MEA cheese business divestiture		(33	)		(6	)					(4	)
Revised Adjusted (Non-GAAP)	$	6,505		$	2,591			39.8	%	$	1,090			16.8	%
Currency					190						87
Revised Adjusted @ Constant FX (Non-GAAP)				$	2,781					$	1,177
	For the Three Months Ended March 31, 2018
	Net Revenues			Gross Profit			Gross Profit Margin			Operating Income			Operating Income Margin
Reported (GAAP)	$	6,765		$	2,849			42.1	%	$	1,224			18.1	%
Simplify to Grow Program		—			23						114
Mark-to-market (gains)/losses from derivatives		—			(206	)					(206	)
Acquisition integration costs		—			—						1
Divestiture-related costs		—			—						(3	)
CEO transition remuneration		—			—						4
Rounding		—			—						(1	)
Adjusted (Non-GAAP)	$	6,765		$	2,666			39.4	%	$	1,133			16.7	%
Operating income from MEA cheese business divestiture		(31	)		(7	)					(6	)
Revised Adjusted (Non-GAAP)	$	6,734		$	2,659			39.5	%	$	1,127			16.7	%
				Gross Profit						Operating Income
$ Change - Reported (GAAP)				$	(256	)				$	(188	)
$ Change - Adjusted (Non-GAAP)					(69	)					(39	)
$ Change - Revised Adjusted (Non-GAAP)					(68	)					(37	)
$ Change - Revised Adjusted @ Constant FX (Non-GAAP)					122						50
% Change - Reported (GAAP)					(9.0	)%					(15.4	)%
% Change - Adjusted (Non-GAAP)					(2.6	)%					(3.4	)%
% Change - Revised Adjusted (Non-GAAP)					(2.6	)%					(3.3	)%
% Change - Revised Adjusted @ Constant FX (Non-GAAP)					4.6	%					4.4	%

Schedule 2.2

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Gross Profit / Operating Income

(in millions of U.S. dollars)

(Unaudited)

	For the Twelve Months Ended December 31, 2018
	Net Revenues			Gross Profit			Gross Profit Margin			Operating Income			Operating Income Margin
Reported (GAAP)	$	25,938		$	10,352			39.9	%	$	3,312			12.8	%
Simplify to Grow Program		—			189						626
Intangible asset impairment charges		—			—						68
Mark-to-market (gains)/losses from derivatives		—			(140	)					(141	)
Acquisition integration costs		—			—						3
Acquisition-related costs		—			—						13
Divestiture-related costs		—			—						(1	)
Remeasurement of net monetary position		—			—						11
Impact of pension participation changes		—			—						423
Impacts from resolution of tax matters		—			(1	)					(15	)
CEO transition remuneration		—			—						22
Rounding		—			1						—
Adjusted (Non-GAAP)	$	25,938		$	10,401			40.1	%	$	4,321			16.7	%
Operating income from MEA cheese business divestiture		(126	)		(28	)					(19	)
Revised Adjusted (Non-GAAP)	$	25,812		$	10,373			40.2	%	$	4,302			16.7	%
Currency					128						55
Revised Adjusted @ Constant FX (Non-GAAP)				$	10,501					$	4,357
	For the Twelve Months Ended December 31, 2017
	Net Revenues			Gross Profit			Gross Profit Margin			Operating Income			Operating Income Margin
Reported (GAAP)	$	25,896		$	10,034			38.7	%	$	3,462			13.4	%
Simplify to Grow Program		—			61						777
Intangible asset impairment charges		—			—						109
Mark-to-market (gains)/losses from derivatives		—			96						96
Malware incident incremental expenses		—			62						84
Acquisition integration costs		—			—						3
Divestiture-related costs		—			2						31
Operating income from divestitures		(270	)		(79	)					(61	)
(Gain)/loss on divestitures		—			—						(186	)
Impacts from resolution of tax matters		—			—						(209	)
CEO transition remuneration		—			—						14
Rounding		—			1						(1	)
Adjusted (Non-GAAP)	$	25,626		$	10,177			39.7	%	$	4,119			16.1	%
Operating income from MEA cheese business divestiture		(132	)		(39	)					(31	)
Revised Adjusted (Non-GAAP)	$	25,494		$	10,138			39.8	%	$	4,088			16.0	%
				Gross Profit						Operating Income
$ Change - Reported (GAAP)				$	318					$	(150	)
$ Change - Adjusted (Non-GAAP)					224						202
$ Change - Revised Adjusted (Non-GAAP)					235						214
$ Change - Revised Adjusted @ Constant FX (Non-GAAP)					363						269
% Change - Reported (GAAP)					3.2	%					(4.3	)%
% Change - Adjusted (Non-GAAP)					2.2	%					4.9	%
% Change - Revised Adjusted (Non-GAAP)					2.3	%					5.2	%
% Change - Revised Adjusted @ Constant FX (Non-GAAP)					3.6	%					6.6	%

Schedule 2.3

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Gross Profit / Operating Income

(in millions of U.S. dollars)

(Unaudited)

	For the Three Months Ended December 31, 2018
	Net Revenues			Gross Profit			Gross Profit Margin			Operating Income			Operating Income Margin
Reported (GAAP)	$	6,773		$	2,549			37.6	%	$	870			12.8	%
Simplify to Grow Program		—			121						194
Mark-to-market (gains)/losses from derivatives		—			40						40
Acquisition integration costs		—			—						1
Acquisition-related costs		—			—						(1	)
Divestiture-related costs		—			—						2
Remeasurement of net monetary position		—			—						(2	)
Impact of pension participation changes		—			—						15
Impacts from resolution of tax matters		—			(1	)					(26	)
CEO transition remuneration		—			—						4
Rounding		—			1						(1	)
Adjusted (Non-GAAP)	$	6,773		$	2,710			40.0	%	$	1,096			16.2	%
Operating income from MEA cheese business divestiture		(34	)		(7	)					(5	)
Revised Adjusted (Non-GAAP)	$	6,739		$	2,703			40.1	%	$	1,091			16.2	%
Currency					155						74
Revised Adjusted @ Constant FX (Non-GAAP)				$	2,858					$	1,165
	For the Three Months Ended December 31, 2017
	Net Revenues			Gross Profit			Gross Profit Margin			Operating Income			Operating Income Margin
Reported (GAAP)	$	6,966		$	2,653			38.1	%	$	830			11.9	%
Simplify to Grow Program		—			22						192
Mark-to-market (gains)/losses from derivatives		—			27						27
Malware incident incremental expenses		—			20						30
Acquisition integration costs		—			—						1
Divestiture-related costs		—			(1	)					9
Operating income from divestitures		(6	)		(3	)					(1	)
(Gain)/loss on divestitures		—			—						(2	)
Impacts from resolution of tax matters		—			—						(8	)
CEO transition remuneration		—			—						14
Rounding		—			—						(1	)
Adjusted (Non-GAAP)	$	6,960		$	2,718			39.1	%	$	1,091			15.7	%
Operating income from MEA cheese business divestiture		(33	)		(6	)					(6	)
Revised Adjusted (Non-GAAP)	$	6,927		$	2,712			39.2	%	$	1,085			15.7	%
				Gross Profit						Operating Income
$ Change - Reported (GAAP)				$	(104	)				$	40
$ Change - Adjusted (Non-GAAP)					(8	)					5
$ Change - Revised Adjusted (Non-GAAP)					(9	)					6
$ Change - Revised Adjusted @ Constant FX (Non-GAAP)					146						80
% Change - Reported (GAAP)					(3.9	)%					4.8	%
% Change - Adjusted (Non-GAAP)					(0.3	)%					0.5	%
% Change - Revised Adjusted (Non-GAAP)					(0.3	)%					0.6	%
% Change - Revised Adjusted @ Constant FX (Non-GAAP)					5.4	%					7.4	%

Schedule 2.4

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Gross Profit / Operating Income

(in millions of U.S. dollars)

(Unaudited)

	For the Three Months Ended September 30, 2018
	Net Revenues			Gross Profit			Gross Profit Margin			Operating Income			Operating Income Margin
Reported (GAAP)	$	6,288		$	2,414			38.4	%	$	737			11.7	%
Simplify to Grow Program		—			25						139
Intangible asset impairment charges		—			—						68
Mark-to-market (gains)/losses from derivatives		—			114						112
Acquisition integration costs		—			—						(1	)
Acquisition-related costs		—			—						1
Remeasurement of net monetary position		—			—						13
CEO transition remuneration		—			—						4
Rounding		—			—						1
Adjusted (Non-GAAP)	$	6,288		$	2,553			40.6	%	$	1,074			17.1	%
Operating income from MEA cheese business divestiture		(29	)		(8	)					(6	)
Revised Adjusted (Non-GAAP)	$	6,259		$	2,545			40.7	%	$	1,068			17.1	%
Currency					127						60
Revised Adjusted @ Constant FX (Non-GAAP)				$	2,672					$	1,128
	For the Three Months Ended September 30, 2017
	Net Revenues			Gross Profit			Gross Profit Margin			Operating Income			Operating Income Margin
Reported (GAAP)	$	6,530		$	2,549			39.0	%	$	1,171			17.9	%
Simplify to Grow Program		—			18						175
Intangible asset impairment charges		—			—						71
Mark-to-market (gains)/losses from derivatives		—			(28	)					(28	)
Malware incident incremental expenses		—			39						47
Acquisition integration costs		—			—						1
Operating income from divestitures		(18	)		(4	)					(5	)
(Gain)/loss on divestitures		—			—						(187	)
Impacts from resolution of tax matters		—			—						(155	)
Rounding		—			—						(1	)
Adjusted (Non-GAAP)	$	6,512		$	2,574			39.5	%	$	1,089			16.7	%
Operating income from MEA cheese business divestiture		(30	)		(10	)					(7	)
Revised Adjusted (Non-GAAP)	$	6,482		$	2,564			39.6	%	$	1,082			16.7	%
				Gross Profit						Operating Income
$ Change - Reported (GAAP)				$	(135	)				$	(434	)
$ Change - Adjusted (Non-GAAP)					(21	)					(15	)
$ Change - Revised Adjusted (Non-GAAP)					(19	)					(14	)
$ Change - Revised Adjusted @ Constant FX (Non-GAAP)					108						46
% Change - Reported (GAAP)					(5.3	)%					(37.1	)%
% Change - Adjusted (Non-GAAP)					(0.8	)%					(1.4	)%
% Change - Revised Adjusted (Non-GAAP)					(0.7	)%					(1.3	)%
% Change - Revised Adjusted @ Constant FX (Non-GAAP)					4.2	%					4.3	%

Schedule 2.5

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Gross Profit / Operating Income

(in millions of U.S. dollars)

(Unaudited)

	For the Three Months Ended June 30, 2018
	Net Revenues			Gross Profit			Gross Profit Margin			Operating Income			Operating Income Margin
Reported (GAAP)	$	6,112		$	2,540			41.6	%	$	481			7.9	%
Simplify to Grow Program		—			20						179
Mark-to-market (gains)/losses from derivatives		—			(88	)					(88	)
Acquisition integration costs		—			—						2
Acquisition-related costs		—			—						13
Impact of pension participation changes		—			—						408
Impacts from resolution of tax matters		—			—						11
CEO transition remuneration		—			—						10
Rounding		—			—						2
Adjusted (Non-GAAP)	$	6,112		$	2,472			40.4	%	$	1,018			16.7	%
Operating income from MEA cheese business divestiture		(32	)		(6	)					(2	)
Revised Adjusted (Non-GAAP)	$	6,080		$	2,466			40.6	%	$	1,016			16.7	%
Currency					(21	)					(10	)
Revised Adjusted @ Constant FX (Non-GAAP)				$	2,445					$	1,006
	For the Three Months Ended June 30, 2017
	Net Revenues			Gross Profit			Gross Profit Margin			Operating Income			Operating Income Margin
Reported (GAAP)	$	5,986		$	2,314			38.7	%	$	636			10.6	%
Simplify to Grow Program		—			12						199
Intangible asset impairment charges		—			—						38
Mark-to-market (gains)/losses from derivatives		—			46						46
Malware incident incremental expenses		—			4						7
Divestiture-related costs		—			1						4
Operating income from divestitures		(110	)		(37	)					(28	)
(Gain)/loss on divestitures		—			—						3
Rounding		—			—						1
Adjusted (Non-GAAP)	$	5,876		$	2,340			39.8	%	$	906			15.4	%
Operating income from MEA cheese business divestiture		(33	)		(10	)					(7	)
Revised Adjusted (Non-GAAP)	$	5,843		$	2,330			39.9	%	$	899			15.4	%
				Gross Profit						Operating Income
$ Change - Reported (GAAP)				$	226					$	(155	)
$ Change - Adjusted (Non-GAAP)					132						112
$ Change - Revised Adjusted (Non-GAAP)					136						117
$ Change - Revised Adjusted @ Constant FX (Non-GAAP)					115						107
% Change - Reported (GAAP)					9.8	%					(24.4	)%
% Change - Adjusted (Non-GAAP)					5.6	%					12.4	%
% Change - Revised Adjusted (Non-GAAP)					5.8	%					13.0	%
% Change - Revised Adjusted @ Constant FX (Non-GAAP)					4.9	%					11.9	%

Schedule 2.6

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Gross Profit / Operating Income

(in millions of U.S. dollars)

(Unaudited)

	For the Three Months Ended March 31, 2018
	Net Revenues			Gross Profit			Gross Profit Margin			Operating Income			Operating Income Margin
Reported (GAAP)	$	6,765		$	2,849			42.1	%	$	1,224			18.1	%
Simplify to Grow Program		—			23						114
Mark-to-market (gains)/losses from derivatives		—			(206	)					(206	)
Acquisition integration costs		—			—						1
Divestiture-related costs		—			—						(3	)
CEO transition remuneration		—			—						4
Rounding		—			—						(1	)
Adjusted (Non-GAAP)	$	6,765		$	2,666			39.4	%	$	1,133			16.7	%
Operating income from MEA cheese business divestiture		(31	)		(7	)					(6	)
Revised Adjusted (Non-GAAP)	$	6,734		$	2,659			39.5	%	$	1,127			16.7	%
Currency					(133	)					(69	)
Revised Adjusted @ Constant FX (Non-GAAP)				$	2,526					$	1,058
	For the Three Months Ended March 31, 2017
	Net Revenues			Gross Profit			Gross Profit Margin			Operating Income			Operating Income Margin
Reported (GAAP)	$	6,414		$	2,518			39.3	%	$	825			12.9	%
Simplify to Grow Program		—			9						211
Mark-to-market (gains)/losses from derivatives		—			51						51
Acquisition integration costs		—			—						1
Divestiture-related costs		—			2						19
Operating income from divestitures		(136	)		(35	)					(27	)
Impacts from resolution of tax matters		—			—						(46	)
Rounding		—			—						(1	)
Adjusted (Non-GAAP)	$	6,278		$	2,545			40.5	%	$	1,033			16.5	%
Operating income from MEA cheese business divestiture		(36	)		(13	)					(11	)
Revised Adjusted (Non-GAAP)	$	6,242		$	2,532			40.6	%	$	1,022			16.4	%
				Gross Profit						Operating Income
$ Change - Reported (GAAP)				$	331					$	399
$ Change - Adjusted (Non-GAAP)					121						100
$ Change - Revised Adjusted (Non-GAAP)					127						105
$ Change - Revised Adjusted @ Constant FX (Non-GAAP)					(6	)					36
% Change - Reported (GAAP)					13.1	%					48.4	%
% Change - Adjusted (Non-GAAP)					4.8	%					9.7	%
% Change - Revised Adjusted (Non-GAAP)					5.0	%					10.3	%
% Change - Revised Adjusted @ Constant FX (Non-GAAP)					(0.2	)%					3.5	%

Schedule 2.7

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Gross Profit / Operating Income

(in millions of U.S. dollars)

(Unaudited)

	For the Twelve Months Ended December 31, 2017
	Net Revenues			Gross Profit			Gross Profit Margin			Operating Income			Operating Income Margin
Reported (GAAP)	$	25,896		$	10,034			38.7	%	$	3,462			13.4	%
Simplify to Grow Program		—			61						777
Intangible asset impairment charges		—			—						109
Mark-to-market (gains)/losses from derivatives		—			96						96
Malware incident incremental expenses		—			62						84
Acquisition integration costs		—			—						3
Divestiture-related costs		—			2						31
Operating income from divestitures		(270	)		(79	)					(61	)
(Gain)/loss on divestitures		—			—						(186	)
Impacts from resolution of tax matters		—			—						(209	)
CEO transition remuneration		—			—						14
Rounding		—			1						(1	)
Adjusted (Non-GAAP)	$	25,626		$	10,177			39.7	%	$	4,119			16.1	%
Operating income from MEA cheese business divestiture		(132	)		(39	)					(31	)
Revised Adjusted (Non-GAAP)	$	25,494		$	10,138			39.8	%	$	4,088			16.0	%
Currency					(40	)					(3	)
Revised Adjusted @ Constant FX (Non-GAAP)				$	10,098					$	4,085
	For the Twelve Months Ended December 31, 2016
	Net Revenues			Gross Profit			Gross Profit Margin			Operating Income			Operating Income Margin
Reported (GAAP)	$	25,923		$	10,104			39.0	%	$	2,554			9.9	%
Simplify to Grow Program		—			91						1,072
Intangible asset impairment charges		—			—						137
Mark-to-market (gains)/losses from derivatives		—			94						94
Acquisition integration costs		—			—						7
Acquisition-related costs		—			—						1
Divestiture-related costs		—			8						86
Operating income from divestitures		(653	)		(198	)					(153	)
(Gain)/loss on divestitures		—			—						(9	)
(Income)/costs associated with the JDE coffee business transactions		—			—						(2	)
(Gain)/loss on sale of intangible assets		—			—						(15	)
Rounding		—			(1	)					1
Adjusted (Non-GAAP)	$	25,270		$	10,098			40.0	%	$	3,773			14.9	%
Operating income from MEA cheese business divestiture		(161	)		(54	)					(40	)
Revised Adjusted (Non-GAAP)	$	25,109		$	10,044			40.0	%	$	3,733			14.9	%
				Gross Profit						Operating Income
$ Change - Reported (GAAP)				$	(70	)				$	908
$ Change - Adjusted (Non-GAAP)					79						346
$ Change - Revised Adjusted (Non-GAAP)					94						355
$ Change - Revised Adjusted @ Constant FX (Non-GAAP)					54						352
% Change - Reported (GAAP)					(0.7	)%					35.6	%
% Change - Adjusted (Non-GAAP)					0.8	%					9.2	%
% Change - Revised Adjusted (Non-GAAP)					0.9	%					9.5	%
% Change - Revised Adjusted @ Constant FX (Non-GAAP)					0.5	%					9.4	%

Schedule 3.1

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, 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		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP)	$	1,036		$	(17	)	$	80	$	973		$	189			19.4	%	$	(23	)	$	(113	)	$	6	$	914		$	0.63
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	)		—
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 transaction		—			—			—		—			(5	)					23			—			—		(18	)		(0.01	)
Equity method investee acquisition-related and other adjustments		—			—			—		—			4						—			(17	)		—		13			0.01
Adjusted (Non-GAAP)	$	1,094		$	(17	)	$	80	$	1,031		$	203			19.7	%	$	—		$	(130	)	$	6	$	952		$	0.65
Net earnings from MEA cheese business divestiture		(4	)		—			—		(4	)		—						—			—			—		(4	)		—
Revised Adjusted (Non-GAAP)	$	1,090		$	(17	)	$	80	$	1,027		$	203			19.8	%	$	—		$	(130	)	$	6	$	948		$	0.65
Currency																											84			0.06
Revised Adjusted @ Constant FX (Non-GAAP)																										$	1,032		$	0.71
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		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP)	$	1,224		$	(13	)	$	80	$	1,157		$	337			29.1	%	$	—		$	(232	)	$	6	$	1,046		$	0.70
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	)		—
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)	$	1,133		$	(13	)	$	94	$	1,052		$	222			21.1	%	$	—		$	(119	)	$	6	$	943		$	0.63
Net earnings from MEA cheese business divestiture		(6	)		—			—		(6	)		1						—			—			—		(7	)		(0.01	)
Revised Adjusted (Non-GAAP)	$	1,127		$	(13	)	$	94	$	1,046		$	223			21.3	%	$	—		$	(119	)	$	6	$	936		$	0.62
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 3.2

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, 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		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP)	$	3,312		$	(50	)	$	520		$	2,842		$	773			27.2	%	$	(778	)	$	(548	)	$	14	$	3,381		$	2.28
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			—
Remeasurement of net monetary position		11			—			—			11			—						—			—			—		11			0.01
Impact of pension participation changes		423			—			(6	)		429			108						—			—			—		321			0.22
Impacts from resolution of tax matters		(15	)		—			(4	)		(11	)		6						—			—			—		(17	)		(0.01	)
CEO transition remuneration		22			—			—			22			5						—			—			—		17			0.01
(Gain)/loss 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 and other adjustments		—			—			—			—			(16	)					—			54			—		(38	)		(0.03	)
Adjusted (Non-GAAP)	$	4,321		$	(55	)	$	381		$	3,995		$	861			21.6	%	$	—		$	(494	)	$	14	$	3,614		$	2.43
Net earnings from MEA cheese business divestiture		(19	)		—			—			(19	)		—						—			—			—		(19	)		(0.01	)
Revised Adjusted (Non-GAAP)	$	4,302		$	(55	)	$	381		$	3,976		$	861			21.7	%	$	—		$	(494	)	$	14	$	3,595		$	2.42
Currency																												41			0.03
Revised Adjusted @ Constant FX (Non-GAAP)																											$	3,636		$	2.45
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		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP)	$	3,462		$	(44	)	$	382		$	3,124		$	666			21.3	%	$	(40	)	$	(344	)	$	14	$	2,828		$	1.85
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		(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)	$	4,119		$	(59	)	$	440		$	3,738		$	862			23.1	%	$	—		$	(407	)	$	14	$	3,269		$	2.14
Net earnings from MEA cheese business divestiture		(31	)		—			—			(31	)		(1	)					—			—			—		(30	)		(0.02	)
Revised Adjusted (Non-GAAP)	$	4,088		$	(59	)	$	440		$	3,707		$	861			23.2	%	$	—		$	(407	)	$	14	$	3,239		$	2.12
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 3.3

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, 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		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP)	$	870		$	(3	)	$	106		$	767		$	111			14.5	%	$	(21	)	$	(149	)	$	3	$	823		$	0.56
Simplify to Grow Program		194			(2	)		—			196			45						—			—			—		151			0.10
Mark-to-market (gains)/losses from derivatives		40			—			2			38			17						—			—			—		21			0.01
Acquisition integration costs		1			—			—			1			—						—			—			—		1			—
Acquisition-related costs		(1	)		—			—			(1	)		—						—			—			—		(1	)		—
Divestiture-related costs		2			—			—			2			—						—			—			—		2			—
Remeasurement of net monetary position		(2	)		—			—			(2	)		—						—			—			—		(2	)		—
Impact of pension participation changes		15			—			(3	)		18			4						—			—			—		14			0.01
Impacts 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 and other adjustments		—			—			—			—			8						—			(32	)		—		24			0.02
Rounding		(1	)		—			—			(1	)		—						—			—			—		(1	)		—
Adjusted (Non-GAAP)	$	1,096		$	(5	)	$	105		$	996		$	246			24.7	%	$	—		$	(181	)	$	3	$	928		$	0.63
Net earnings from MEA cheese business divestiture		(5	)		—			—			(5	)		1						—			—			—		(6	)		—
Revised Adjusted (Non-GAAP)	$	1,091		$	(5	)	$	105		$	991		$	247			24.9	%	$	—		$	(181	)	$	3	$	922		$	0.63
Currency																												68			0.04
Revised Adjusted @ Constant FX (Non-GAAP)																											$	990		$	0.67
Diluted Average Shares Outstanding																															1,470
	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			Gain on Equity Method Investment Transactions			Equity Method Investment Net Losses / (Earnings)			Non-controlling interest		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP)	$	830		$	(14	)	$	120		$	724		$	156			21.5	%	$	(40	)	$	(95	)	$	8	$	695		$	0.46
Simplify to Grow Program		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)	$	1,091		$	(17	)	$	120		$	988		$	250			25.3	%	$	—		$	(116	)	$	8	$	846		$	0.56
Net earnings from MEA cheese business divestiture		(6	)		—			—			(6	)		(1	)					—			—			—		(5	)		—
Revised Adjusted (Non-GAAP)	$	1,085		$	(17	)	$	120		$	982		$	249			25.4	%	$	—		$	(116	)	$	8	$	841		$	0.56
Diluted Average Shares Outstanding																															1,513

⁽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 3.4

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, 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		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP)	$	737		$	(19	)	$	86		$	670		$	310			46.3	%	$	(757	)	$	(80	)	$	3	$	1,194		$	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			—
Remeasurement of net monetary position		13			—			—			13			—						—			—			—		13			0.01
Impact of pension participation changes		—			—			(3	)		3			1						—			—			—		2			—
CEO transition remuneration		4			—			—			4			1						—			—			—		3			—
(Gain)/loss 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 and other adjustments		—			—			—			—			2						—			(20	)		—		18			0.01
Rounding		1			—			—			1			—						—			—			—		1			—
Adjusted (Non-GAAP)	$	1,074		$	(19	)	$	83		$	1,010		$	183			18.1	%	$	—		$	(100	)	$	3	$	924		$	0.62
Net earnings from MEA cheese business divestiture		(6	)		—			—			(6	)		—						—			—			—		(6	)		—
Revised Adjusted (Non-GAAP)	$	1,068		$	(19	)	$	83		$	1,004		$	183			18.2	%	$	—		$	(100	)	$	3	$	918		$	0.62
Currency																												56			0.04
Revised Adjusted @ Constant FX (Non-GAAP)																											$	974		$	0.66
Diluted Average Shares Outstanding																															1,480
	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			Gain on Equity Method Investment Transactions			Equity Method Investment Net Losses / (Earnings)			Non-controlling interest		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP)	$	1,171		$	(10	)	$	19		$	1,162		$	272			23.4	%	$	—		$	(92	)	$	1	$	981		$	0.64
Simplify to Grow Program		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)	$	1,089		$	(10	)	$	81		$	1,018		$	252			24.8	%	$	—		$	(93	)	$	1	$	858		$	0.56
Net earnings from MEA cheese business divestiture		(7	)		—			—			(7	)		—						—			—			—		(7	)		—
Revised Adjusted (Non-GAAP)	$	1,082		$	(10	)	$	81		$	1,011		$	252			24.9	%	$	—		$	(93	)	$	1	$	851		$	0.56
Diluted Average Shares Outstanding																															1,524

⁽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 3.5

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, 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)	$	481		$	(15	)	$	248		$	248		$	15			6.0	%	$	(87	)	$	2	$	318		$	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
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)	$	1,018		$	(18	)	$	99		$	937		$	210			22.4	%	$	(94	)	$	2	$	819		$	0.55
Net earnings from MEA cheese business divestiture		(2	)		—			—			(2	)		(2	)					—			—		—			—
Revised Adjusted (Non-GAAP)	$	1,016		$	(18	)	$	99		$	935		$	208			22.2	%	$	(94	)	$	2	$	819		$	0.55
Currency																									(11	)		(0.01	)
Revised Adjusted @ Constant FX (Non-GAAP)																								$	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)	$	636		$	(5	)	$	124		$	517		$	84			16.2	%	$	(67	)	$	2	$	498		$	0.32
Simplify to Grow Program		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)	$	906		$	(17	)	$	108		$	815		$	156			19.1	%	$	(83	)	$	2	$	740		$	0.48
Net earnings from MEA cheese business divestiture		(7	)		—			—			(7	)		—						—			—		(7	)		—
Revised Adjusted (Non-GAAP)	$	899		$	(17	)	$	108		$	808		$	156			19.3	%	$	(83	)	$	2	$	733		$	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 3.6

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, 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)	$	1,224		$	(13	)	$	80	$	1,157		$	337			29.1	%	$	(232	)	$	6	$	1,046		$	0.70
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	)		—
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)	$	1,133		$	(13	)	$	94	$	1,052		$	222			21.1	%	$	(119	)	$	6	$	943		$	0.63
Net earnings from MEA cheese business divestiture		(6	)		—			—		(6	)		1						—			—		(7	)		(0.01	)
Revised Adjusted (Non-GAAP)	$	1,127		$	(13	)	$	94	$	1,046		$	223			21.3	%	$	(119	)	$	6	$	936		$	0.62
Currency																								(72	)		(0.05	)
Revised Adjusted @ Constant FX (Non-GAAP)																							$	864		$	0.57
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)	$	825		$	(15	)	$	119	$	721		$	154			21.4	%	$	(90	)	$	3	$	654		$	0.42
Simplify to Grow Program		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)	$	1,033		$	(15	)	$	131	$	917		$	204			22.2	%	$	(115	)	$	3	$	825		$	0.53
Net earnings from MEA cheese business divestiture		(11	)		—			—		(11	)		—						—			—		(11	)		—
Revised Adjusted (Non-GAAP)	$	1,022		$	(15	)	$	131	$	906		$	204			22.5	%	$	(115	)	$	3	$	814		$	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 3.7

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, 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		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP)	$	3,462		$	(44	)	$	382		$	3,124		$	666			21.3	%	$	(40	)	$	(344	)	$	14	$	2,828		$	1.85
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		(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)	$	4,119		$	(59	)	$	440		$	3,738		$	862			23.1	%	$	—		$	(407	)	$	14	$	3,269		$	2.14
Net earnings from MEA cheese business divestiture		(31	)		—			—			(31	)		(1	)					—			—			—		(30	)		(0.02	)
Revised Adjusted (Non-GAAP)	$	4,088		$	(59	)	$	440		$	3,707		$	861			23.2	%	$	—		$	(407	)	$	14	$	3,239		$	2.12
Currency																												(15	)		(0.01	)
Revised Adjusted @ Constant FX (Non-GAAP)																											$	3,224		$	2.11
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			Gain on Equity Method Investment Transactions			Equity Method Investment Net Losses / (Earnings)			Non-controlling interest		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP)	$	2,554		$	(15	)	$	1,115		$	1,454		$	114			7.8	%	$	(43	)	$	(262	)	$	10	$	1,635		$	1.04
Simplify to Grow Program		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)	$	3,773		$	(29	)	$	591		$	3,211		$	620			19.3	%	$	—		$	(310	)	$	10	$	2,891		$	1.84
Net earnings from MEA cheese business divestiture		(40	)		—			—			(40	)		—						—			—			—		(40	)		(0.03	)
Revised Adjusted (Non-GAAP)	$	3,733		$	(29	)	$	591		$	3,171		$	620			19.6	%	$	—		$	(310	)	$	10	$	2,851		$	1.81
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 4.1

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)	$	0.63		$	0.70		$	(0.07	)		(10.0	)%
Simplify to Grow Program		0.03			0.06			(0.03	)
Mark-to-market (gains)/losses from derivatives		(0.01	)		(0.12	)		0.11
(Gain)/loss 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 transaction		(0.01	)		—			(0.01	)
Equity method investee acquisition-related and other adjustments		0.01			(0.06	)		0.07
Adjusted EPS (Non-GAAP)	$	0.65		$	0.63		$	0.02			3.2	%
Net earnings from MEA cheese business divestiture		—			(0.01	)		0.01
Revised Adjusted EPS (Non-GAAP)	$	0.65		$	0.62		$	0.03			4.8	%
Impact of unfavorable currency		0.06			—			0.06
Revised Adjusted EPS @ Constant FX (Non-GAAP)	$	0.71		$	0.62		$	0.09			14.5	%

Schedule 4.2

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)	$	2.28		$	1.85		$	0.43			23.2	%
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		—			(0.03	)		0.03
(Gain)/loss on divestitures		—			(0.11	)		0.11
Remeasurement of net monetary position		0.01			—			0.01
Impact of pension participation changes		0.22			—			0.22
Impacts from resolution of tax matters		(0.01	)		(0.13	)		0.12
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			—			0.07
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 and other adjustments		(0.03	)		0.04			(0.07	)
Adjusted EPS (Non-GAAP)	$	2.43		$	2.14		$	0.29			13.6	%
Net earnings from MEA cheese business divestiture		(0.01	)		(0.02	)		0.01
Revised Adjusted EPS (Non-GAAP)	$	2.42		$	2.12		$	0.30			14.2	%
Impact of unfavorable currency		0.03			—			0.03
Revised Adjusted EPS @ Constant FX (Non-GAAP)	$	2.45		$	2.12		$	0.33			15.6	%

Schedule 4.3

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Diluted EPS

(Unaudited)

	For the Three Months Ended December 31,
	2018			2017			$ Change			% Change
Diluted EPS attributable to Mondelēz International (GAAP)	$	0.56		$	0.46		$	0.10			21.7	%
Simplify to Grow Program		0.10			0.11			(0.01	)
Mark-to-market (gains)/losses from derivatives		0.01			0.01			—
Malware incident incremental expenses		—			0.01			(0.01	)
Impact of pension participation changes		0.01			—			0.01
Impacts from resolution of tax matters		(0.01	)		—			(0.01	)
CEO transition remuneration		—			0.01			(0.01	)
U.S. tax reform discrete net tax (benefit)/expense		(0.05	)		(0.03	)		(0.02	)
Gain on equity method investment transactions		(0.01	)		(0.02	)		0.01
Equity method investee acquisition-related and other adjustments		0.02			0.01			0.01
Adjusted EPS (Non-GAAP)	$	0.63		$	0.56		$	0.07			12.5	%
Net earnings from MEA cheese business divestiture		—			—			—
Revised Adjusted EPS (Non-GAAP)	$	0.63		$	0.56		$	0.07			12.5	%
Impact of unfavorable currency		0.04			—			0.04
Revised Adjusted EPS @ Constant FX (Non-GAAP)	$	0.67		$	0.56		$	0.11			19.6	%

Schedule 4.4

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Diluted EPS

(Unaudited)

	For the Three Months Ended September 30,
	2018			2017			$ Change			% Change
Diluted EPS attributable to Mondelēz International (GAAP)	$	0.81		$	0.64		$	0.17			26.6	%
Simplify to Grow Program		0.07			0.08			(0.01	)
Intangible asset impairment charges		0.03			0.04			(0.01	)
Mark-to-market (gains)/losses from derivatives		0.07			(0.02	)		0.09
Malware incident incremental expenses		—			0.02			(0.02	)
Divestiture-related costs		—			0.01			(0.01	)
(Gain)/loss on divestitures		—			(0.12	)		0.12
Remeasurement of net monetary position		0.01			—			0.01
Impacts from resolution of tax matters		—			(0.09	)		0.09
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 and other adjustments		0.01			—			0.01
Adjusted EPS (Non-GAAP)	$	0.62		$	0.56		$	0.06			10.7	%
Net earnings from MEA cheese business divestiture		—			—			—
Revised Adjusted EPS (Non-GAAP)	$	0.62		$	0.56		$	0.06			10.7	%
Impact of unfavorable currency		0.04			—			0.04
Revised Adjusted EPS @ Constant FX (Non-GAAP)	$	0.66		$	0.56		$	0.10			17.9	%

Schedule 4.5

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)	$	0.21		$	0.32		$	(0.11	)		(34.4	)%
Simplify to Grow Program		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)	$	0.55		$	0.48		$	0.07			14.6	%
Net earnings from MEA cheese business divestiture		—			—			—
Revised Adjusted EPS (Non-GAAP)	$	0.55		$	0.48		$	0.07			14.6	%
Impact of favorable currency		(0.01	)		—			(0.01	)
Revised Adjusted EPS @ Constant FX (Non-GAAP)	$	0.54		$	0.48		$	0.06			12.5	%

Schedule 4.6

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)	$	0.70		$	0.42		$	0.28			66.7	%
Simplify to Grow Program		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		(0.06	)		0.02			(0.08	)
Adjusted EPS (Non-GAAP)	$	0.63		$	0.53		$	0.10			18.9	%
Net earnings from MEA cheese business divestiture		(0.01	)		—			(0.01	)
Revised Adjusted EPS (Non-GAAP)	$	0.62		$	0.53		$	0.09			17.0	%
Impact of favorable currency		(0.05	)		—			(0.05	)
Revised Adjusted EPS @ Constant FX (Non-GAAP)	$	0.57		$	0.53		$	0.04			7.5	%

Schedule 4.7

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)	$	1.85		$	1.04		$	0.81			77.9	%
Simplify to Grow Program		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)	$	2.14		$	1.84		$	0.30			16.3	%
Net earnings from MEA cheese business divestiture		(0.02	)		(0.03	)		0.01
Revised Adjusted EPS (Non-GAAP)	$	2.12		$	1.81		$	0.31			17.1	%
Impact of favorable currency		(0.01	)		—			(0.01	)
Revised Adjusted EPS @ Constant FX (Non-GAAP)	$	2.11		$	1.81		$	0.30			16.6	%

Schedule 5.1

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Segment Data

(in millions of U.S. dollars)

(Unaudited)

	For the Three Months Ended March 31, 2019
	Latin America			AMEA			Europe			North America			Unrealized G/(L) on Hedging Activities			General Corporate Expenses			Amortization of Intangibles			Mondelēz International
Net Revenue
Reported (GAAP)	$	800		$	1,541		$	2,551		$	1,646		$	—		$	—		$	—		$	6,538
Divestitures		—			—			—			—			—			—			—			—
Adjusted (Non-GAAP)	$	800		$	1,541		$	2,551		$	1,646		$	—		$	—		$	—		$	6,538
MEA cheese business divestiture		—			(33	)		—			—			—			—			—			(33	)
Revised Adjusted (Non-GAAP)	$	800		$	1,508		$	2,551		$	1,646		$	—		$	—		$	—		$	6,505
Operating Income
Reported (GAAP)	$	98		$	256		$	500		$	319		$	16		$	(109	)	$	(44	)	$	1,036
Simplify to Grow Program		15			13			11			10			—			21			—			70
Mark-to-market (gains)/losses from derivatives		—			—			—			—			(16	)		—			—			(16	)
Divestiture-related costs		—			(1	)		—			—			—			—			—			(1	)
Remeasurement of net monetary position		2			—			—			—			—			—			—			2
CEO transition remuneration		—			—			—			—			—			3			—			3
Adjusted (Non-GAAP)	$	115		$	268		$	511		$	329		$	—		$	(85)		$	(44	)	$	1,094
Operating income from MEA cheese business divestiture		—			(4	)		—			—			—			—			—			(4	)
Revised Adjusted (Non-GAAP)	$	115		$	264		$	511		$	329		$	—		$	(85)		$	(44	)	$	1,090
Currency		18			21			50			1			—			(1	)		(2	)		87
Revised Adjusted @ Constant FX (Non-GAAP)	$	133		$	285		$	561		$	330		$	—		$	(86	)	$	(46	)	$	1,177
% Change - Reported (GAAP)		(22.2	)%		12.3	%		0.6	%		16.0	%		n/m			(70.3	)%		0.0	%		(15.4	)%
% Change - Adjusted (Non-GAAP)		(30.3	)%		8.5	%		(1.7	)%		8.2	%		n/m			(44.1	)%		0.0	%		(3.4	)%
% Change - Revised Adjusted (Non-GAAP)		(30.3	)%		9.5	%		(1.7	)%		8.2	%		n/m			(44.1	)%		0.0	%		(3.3	)%
% Change - Revised Adjusted @ Constant FX (Non-GAAP)		(19.4	)%		18.3	%		7.9	%		8.6	%		n/m			(45.8	)%		(4.5	)%		4.4	%
Operating Income Margin
Reported %		12.3	%		16.6	%		19.6	%		19.4	%											15.8	%
Reported pp change		(1.8	)pp		1.8 pp			1.2 pp			2.5 pp												(2.3	)pp
Adjusted %		14.4	%		17.4	%		20.0	%		20.0	%											16.7	%
Adjusted pp change		(4.1	)pp		1.4 pp			0.8 pp			1.3 pp												— pp
Revised Adjusted %		14.4	%		17.5	%		20.0	%		20.0	%											16.8	%
Revised Adjusted pp change		(4.1	)pp		1.6 pp			0.8 pp			1.3 pp												0.1 pp
	For the Three Months Ended March 31, 2018
	Latin America			AMEA			Europe			North America			Unrealized G/(L) on Hedging Activities			General Corporate Expenses			Amortization of Intangibles			Mondelēz International
Net Revenue
Reported (GAAP)	$	891		$	1,542		$	2,706		$	1,626		$	—		$	—		$	—		$	6,765
Divestitures		—			—			—			—			—			—			—			—
Adjusted (Non-GAAP)	$	891		$	1,542		$	2,706		$	1,626		$	—		$	—		$	—		$	6,765
MEA cheese business divestiture		—			(31	)		—			—			—			—			—			(31	)
Revised Adjusted (Non-GAAP)	$	891		$	1,511		$	2,706		$	1,626		$	—		$	—		$	—		$	6,734
Operating Income
Reported (GAAP)	$	126		$	228		$	497		$	275		$	206		$	(64	)	$	(44	)	$	1,224
Simplify to Grow Program		39			18			23			29			—			5			—			114
Mark-to-market (gains)/losses from derivatives		—			—			—			—			(206	)		—			—			(206	)
Acquisition integration costs		—			1			—			—			—			—			—			1
Divestiture-related costs		—			—			—			—			—			(3	)		—			(3	)
CEO transition remuneration		—			—			—			—			—			4			—			4
Rounding		—			—			—			—			—			(1	)		—			(1	)
Adjusted (Non-GAAP)	$	165		$	247		$	520		$	304		$	—		$	(59	)	$	(44	)	$	1,133
Operating income from MEA cheese business divestiture		—			(6	)		—			—			—			—			—			(6	)
Revised Adjusted (Non-GAAP)	$	165		$	241		$	520		$	304		$	—		$	(59	)	$	(44	)	$	1,127
Operating Income Margin
Reported %		14.1	%		14.8	%		18.4	%		16.9	%											18.1	%
Adjusted %		18.5	%		16.0	%		19.2	%		18.7	%											16.7	%
Revised Adjusted %		18.5	%		15.9	%		19.2	%		18.7	%											16.7	%

Schedule 5.2

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Segment Data

(in millions of U.S. dollars)

(Unaudited)

	For the Twelve Months Ended December 31, 2018
	Latin America			AMEA			Europe			North America			Unrealized G/(L) on Hedging Activities			General Corporate Expenses			Amortization of Intangibles			Other Items			Mondelēz International
Net Revenue
Reported (GAAP)	$	3,202		$	5,729		$	10,122		$	6,885		$	—		$	—		$	—		$	—		$	25,938
Divestitures		—			—			—			—			—			—			—			—			—
Adjusted (Non-GAAP)	$	3,202		$	5,729		$	10,122		$	6,885		$	—		$	—		$	—		$	—		$	25,938
MEA cheese business divestiture		—			(126	)		—			—			—			—			—			—			(126	)
Revised Adjusted (Non-GAAP)	$	3,202		$	5,603		$	10,122		$	6,885		$	—		$	—		$	—		$	—		$	25,812
Operating Income
Reported (GAAP)	$	410		$	702		$	1,734		$	849		$	141		$	(335	)	$	(176	)	$	(13	)	$	3,312
Simplify to Grow Program		130			108			205			111			—			72			—			—			626
Intangible asset impairment charges		—			9			45			14			—			—			—			—			68
Mark-to-market (gains)/losses from derivatives		—			—			—			—			(141	)		—			—			—			(141	)
Acquisition integration costs		—			4			—			—			—			(1	)		—			—			3
Acquisition-related costs		—			—			—			—			—			—			—			13			13
Divestiture-related costs		—			2			—			—			—			(3	)		—			—			(1	)
Remeasurement of net monetary position		11			—			—			—			—			—			—			—			11
Impact of pension participation changes		—			—			—			423			—			—			—			—			423
Impacts from resolution of tax matters		(26	)		—			—			—			—			11			—			—			(15	)
CEO transition remuneration		—			—			—			—			—			22			—			—			22
Adjusted (Non-GAAP)	$	525		$	825		$	1,984		$	1,397		$	—		$	(234)		$	(176	)	$	—		$	4,321
Operating income from MEA cheese business divestiture		—			(19	)		—			—			—			—			—			—			(19	)
Revised Adjusted (Non-GAAP)	$	525		$	806		$	1,984		$	1,397		$	—		$	(234)		$	(176	)	$	—		$	4,302
Currency		82			14			(42	)		2			—			(2	)		1			—			55
Revised Adjusted @ Constant FX (Non-GAAP)	$	607		$	820		$	1,942		$	1,399		$	—		$	(236)		$	(175	)	$	—		$	4,357
% Change - Reported (GAAP)		(27.3	)%		36.6	%		7.7	%		(25.8	)%		n/m			(18.8	)%		1.1	%		n/m			(4.3	)%
% Change - Adjusted (Non-GAAP)		(5.1	)%		13.0	%		8.0	%		1.2	%		n/m			(14.7	)%		1.1	%		n/m			4.9	%
% Change - Revised Adjusted (Non-GAAP)		(5.1	)%		15.3	%		8.0	%		1.2	%		n/m			(14.7	)%		1.1	%		n/m			5.2	%
% Change - Revised Adjusted @ Constant FX (Non-GAAP)		9.8	%		17.3	%		5.7	%		1.3	%		n/m			(15.7	)%		1.7	%		n/m			6.6	%
Operating Income Margin
Reported %		12.8	%		12.3	%		17.1	%		12.3	%														12.8	%
Reported pp change		(3.0	)pp		3.3 pp			0.7 pp			(4.5	)pp														(0.6	)pp
Adjusted %		16.4	%		14.4	%		19.6	%		20.3	%														16.7	%
Adjusted pp change		0.9 pp			1.4 pp			0.6 pp			— pp															0.6 pp
Revised Adjusted %		16.4	%		14.4	%		19.6	%		20.3	%														16.7	%
Revised Adjusted pp change		0.9 pp			1.6 pp			0.6 pp			— pp															0.7 pp
	For the Twelve Months Ended December 31, 2017
	Latin America			AMEA			Europe			North America			Unrealized G/(L) on Hedging Activities			General Corporate Expenses			Amortization of Intangibles			Other Items			Mondelēz International
Net Revenue
Reported (GAAP)	$	3,566		$	5,739		$	9,794		$	6,797		$	—		$	—		$	—		$	—		$	25,896
Divestitures		—			(133	)		(137	)		—			—			—			—			—			(270	)
Adjusted (Non-GAAP)	$	3,566		$	5,606		$	9,657		$	6,797		$	—		$	—		$	—		$	—		$	25,626
MEA cheese business divestiture		—			(132	)		—			—			—			—			—			—			(132	)
Revised Adjusted (Non-GAAP)	$	3,566		$	5,474		$	9,657		$	6,797		$	—		$	—		$	—		$	—		$	25,494
Operating Income
Reported (GAAP)	$	564		$	514		$	1,610		$	1,144		$	(96	)	$	(282	)	$	(178	)	$	186		$	3,462
Simplify to Grow Program		136			183			263			142			—			53			—			—			777
Intangible asset impairment charges		5			52			11			41			—			—			—			—			109
Mark-to-market (gains)/losses from derivatives		—			—			—			—			96			—			—			—			96
Malware incident incremental expenses		1			2			15			61			—			5			—			—			84
Acquisition integration costs		—			3			—			—			—			—			—			—			3
Divestiture-related costs		—			3			21			—			—			7			—			—			31
Operating income from divestitures		—			(27	)		(34	)		—			—			—			—			—			(61	)
(Gain)/loss on divestitures		—			—			—			—			—			—			—			(186	)		(186	)
Impacts from resolution of tax matters		(153	)		—			(49	)		(7	)		—			—			—			—			(209	)
CEO transition remuneration		—			—			—			—			—			14			—			—			14
Rounding		—			—			—			—			—			(1	)		—			—			(1	)
Adjusted (Non-GAAP)	$	553		$	730		$	1,837		$	1,381		$	—		$	(204	)	$	(178	)	$	—		$	4,119
Operating income from MEA cheese business divestiture		—			(31	)		—			—			—			—			—			—			(31	)
Revised Adjusted (Non-GAAP)	$	553		$	699		$	1,837		$	1,381		$	—		$	(204	)	$	(178	)	$	—		$	4,088
Operating Income Margin
Reported %		15.8	%		9.0	%		16.4	%		16.8	%														13.4	%
Adjusted %		15.5	%		13.0	%		19.0	%		20.3	%														16.1	%
Revised Adjusted %		15.5	%		12.8	%		19.0	%		20.3	%														16.0	%

Schedule 5.3

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Segment Data

(in millions of U.S. dollars)

(Unaudited)

	For the Three Months Ended December 31, 2018
	Latin America			AMEA			Europe			North America			Unrealized G/(L) on Hedging Activities			General Corporate Expenses			Amortization of Intangibles			Other Items			Mondelēz International
Net Revenue
Reported (GAAP)	$	763		$	1,429		$	2,752		$	1,829		$	—		$	—		$	—		$	—		$	6,773
Divestitures		—			—			—			—			—			—			—			—			—
Adjusted (Non-GAAP)	$	763		$	1,429		$	2,752		$	1,829		$	—		$	—		$	—		$	—		$	6,773
MEA cheese business divestiture		—			(34	)		—			—			—			—			—			—			(34	)
Revised Adjusted (Non-GAAP)	$	763		$	1,395		$	2,752		$	1,829		$	—		$	—		$	—		$	—		$	6,739
Operating Income
Reported (GAAP)	$	92		$	144		$	489		$	335		$	(40	)	$	(107	)	$	(44	)	$	1		$	870
Simplify to Grow Program		37			30			64			33			—			30			—			—			194
Mark-to-market (gains)/losses from derivatives		—			—			—			—			40			—			—			—			40
Acquisition integration costs		—			—			—			—			—			1			—			—			1
Acquisition-related costs		—			—			—			—			—			—			—			(1	)		(1	)
Divestiture-related costs		—			2			—			—			—			—			—			—			2
Remeasurement of net monetary position		(2	)		—			—			—			—			—			—			—			(2	)
Impact of pension participation changes		—			—			—			15			—			—			—			—			15
Impacts from resolution of tax matters		(26	)		—			—			—			—			—			—			—			(26	)
CEO transition remuneration		—			—			—			—			—			4			—			—			4
Rounding		—			—			—			—			—			(1	)		—			—			(1	)
Adjusted (Non-GAAP)	$	101		$	176		$	553		$	383		$	—		$	(73)		$	(44	)	$	—		$	1,096
Operating income from MEA cheese business divestiture		—			(5	)		—			—			—			—			—			—			(5	)
Revised Adjusted (Non-GAAP)	$	101		$	171		$	553		$	383		$	—		$	(73)		$	(44	)	$	—		$	1,091
Currency		37			13			27			2			—			(4	)		(1	)		—			74
Revised Adjusted @ Constant FX (Non-GAAP)	$	138		$	184		$	580		$	385		$	—		$	(77)		$	(45	)	$	—		$	1,165
% Change - Reported (GAAP)		(3.2	)%		60.0	%		(2.8	)%		10.9	%		n/m			(18.9	)%		2.2	%		n/m			4.8	%
% Change - Adjusted (Non-GAAP)		(20.5	)%		29.4	%		(3.3	)%		9.1	%		n/m			(46.0	)%		2.2	%		n/m			0.5	%
% Change - Revised Adjusted (Non-GAAP)		(20.5	)%		31.5	%		(3.3	)%		9.1	%		n/m			(46.0	)%		2.2	%		n/m			0.6	%
% Change - Revised Adjusted @ Constant FX (Non-GAAP)		8.7	%		41.5	%		1.4	%		9.7	%		n/m			(54.0	)%		0.0	%		n/m			7.4	%
Operating Income Margin
Reported %		12.1	%		10.1	%		17.8	%		18.3	%														12.8	%
Reported pp change		1.5 pp			3.9 pp			(0.1	)pp		1.5 pp															0.9 pp
Adjusted %		13.2	%		12.3	%		20.1	%		20.9	%														16.2	%
Adjusted pp change		(0.9	)pp		2.9 pp			(0.2	)pp		1.4 pp															0.5 pp
Revised Adjusted %		13.2	%		12.3	%		20.1	%		20.9	%														16.2	%
Revised Adjusted pp change		(0.9	)pp		3.1 pp			(0.2	)pp		1.4 pp															0.5 pp
	For the Three Months Ended December 31, 2017
	Latin America			AMEA			Europe			North America			Unrealized G/(L) on Hedging Activities			General Corporate Expenses			Amortization of Intangibles			Other Items			Mondelēz International
Net Revenue
Reported (GAAP)	$	900		$	1,449		$	2,816		$	1,801		$	—		$	—		$	—		$	—		$	6,966
Divestitures		—			(4	)		(2	)		—			—			—			—			—			(6	)
Adjusted (Non-GAAP)	$	900		$	1,445		$	2,814		$	1,801		$	—		$	—		$	—		$	—		$	6,960
MEA cheese business divestiture		—			(33	)		—			—			—			—			—			—			(33	)
Revised Adjusted (Non-GAAP)	$	900		$	1,412		$	2,814		$	1,801		$	—		$	—		$	—		$	—		$	6,927
Operating Income
Reported (GAAP)	$	95		$	90		$	503		$	302		$	(27	)	$	(90	)	$	(45	)	$	2		$	830
Simplify to Grow Program		32			47			65			33			—			15			—			—			192
Mark-to-market (gains)/losses from derivatives		—			—			—			—			27			—			—			—			27
Malware incident incremental expenses		—			—			4			23			—			3			—			—			30
Acquisition integration costs		—			1			—			—			—			—			—			—			1
Divestiture-related costs		—			(2	)		2			—			—			9			—			—			9
Operating income from divestitures		—			—			(1	)		—			—			—			—			—			(1	)
(Gain)/loss on divestitures		—			—			—			—			—			—			—			(2	)		(2	)
Impacts from resolution of tax matters		—			—			(1	)		(7	)		—			—			—			—			(8	)
CEO transition remuneration		—			—			—			—			—			14			—			—			14
Rounding		—			—			—			—			—			(1	)		—			—			(1	)
Adjusted (Non-GAAP)	$	127		$	136		$	572		$	351		$	—		$	(50	)	$	(45	)	$	—		$	1,091
Operating income from MEA cheese business divestiture		—			(6	)		—			—			—			—			—			—			(6	)
Revised Adjusted (Non-GAAP)	$	127		$	130		$	572		$	351		$	—		$	(50	)	$	(45	)	$	—		$	1,085
Operating Income Margin
Reported %		10.6	%		6.2	%		17.9	%		16.8	%														11.9	%
Adjusted %		14.1	%		9.4	%		20.3	%		19.5	%														15.7	%
Revised Adjusted %		14.1	%		9.2	%		20.3	%		19.5	%														15.7	%

Schedule 5.4

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Segment Data

(in millions of U.S. dollars)

(Unaudited)

	For the Three Months Ended September 30, 2018
	Latin America			AMEA			Europe			North America			Unrealized G/(L) on Hedging Activities			General Corporate Expenses			Amortization of Intangibles			Other Items			Mondelēz International
Net Revenue
Reported (GAAP)	$	774		$	1,398		$	2,361		$	1,755		$	—		$	—		$	—		$	—		$	6,288
Divestitures		—			—			—			—			—			—			—			—			—
Adjusted (Non-GAAP)	$	774		$	1,398		$	2,361		$	1,755		$	—		$	—		$	—		$	—		$	6,288
MEA cheese business divestiture		—			(29	)		—			—			—			—			—			—			(29	)
Revised Adjusted (Non-GAAP)	$	774		$	1,369		$	2,361		$	1,755		$	—		$	—		$	—		$	—		$	6,259
Operating Income
Reported (GAAP)	$	100		$	153		$	381		$	334		$	(112	)	$	(74	)	$	(44	)	$	(1	)	$	737
Simplify to Grow Program		27			35			42			14			—			21			—			—			139
Intangible asset impairment charges		—			9			45			14			—			—			—			—			68
Mark-to-market (gains)/losses from derivatives		—			—			—			—			112			—			—			—			112
Acquisition integration costs		—			1			—			—			—			(2	)		—			—			(1	)
Acquisition-related costs		—			—			—			—			—			—			—			1			1
Remeasurement of net monetary position		13			—			—			—			—			—			—			—			13
CEO transition remuneration		—			—			—			—			—			4			—			—			4
Rounding		—			—			—			—			—			1			—			—			1
Adjusted (Non-GAAP)	$	140		$	198		$	468		$	362		$	—		$	(50)		$	(44	)	$	—		$	1,074
Operating income from MEA cheese business divestiture		—			(6	)		—			—			—			—			—			—			(6	)
Revised Adjusted (Non-GAAP)	$	140		$	192		$	468		$	362		$	—		$	(50)		$	(44	)	$	—		$	1,068
Currency		27			16			20			—			—			(2	)		(1	)		—			60
Revised Adjusted @ Constant FX (Non-GAAP)	$	167		$	208		$	488		$	362		$	—		$	(52)		$	(45	)	$	—		$	1,128
% Change - Reported (GAAP)		(60.9	)%		86.6	%		(3.1	)%		2.8	%		n/m			(34.5	)%		2.2	%		n/m			(37.1	)%
% Change - Adjusted (Non-GAAP)		(13.6	)%		8.8	%		3.3	%		(5.0	)%		n/m			(13.6	)%		2.2	%		n/m			(1.4	)%
% Change - Revised Adjusted (Non-GAAP)		(13.6	)%		9.7	%		3.3	%		(5.0	)%		n/m			(13.6	)%		2.2	%		n/m			(1.3	)%
% Change - Revised Adjusted @ Constant FX (Non-GAAP)		3.1	%		18.9	%		7.7	%		(5.0	)%		n/m			(18.2	)%		0.0	%		n/m			4.3	%
Operating Income Margin
Reported %		12.9	%		10.9	%		16.1	%		19.0	%														11.7	%
Reported pp change		(15.3	)pp		5.1 pp			— pp			0.7 pp															(6.2	)pp
Adjusted %		18.1	%		14.2	%		19.8	%		20.6	%														17.1	%
Adjusted pp change		0.3 pp			1.2 pp			1.1 pp			(0.9	)pp														0.4 pp
Revised Adjusted %		18.1	%		14.0	%		19.8	%		20.6	%														17.1	%
Revised Adjusted pp change		0.3 pp			1.2 pp			1.1 pp			(0.9	)pp														0.4 pp
	For the Three Months Ended September 30, 2017
	Latin America			AMEA			Europe			North America			Unrealized G/(L) on Hedging Activities			General Corporate Expenses			Amortization of Intangibles			Other Items			Mondelēz International
Net Revenue
Reported (GAAP)	$	908		$	1,405		$	2,442		$	1,775		$	—		$	—		$	—		$	—		$	6,530
Divestitures		—			(4	)		(14	)		—			—			—			—			—			(18	)
Adjusted (Non-GAAP)	$	908		$	1,401		$	2,428		$	1,775		$	—		$	—		$	—		$	—		$	6,512
MEA cheese business divestiture		—			(30	)		—			—			—			—			—			—			(30	)
Revised Adjusted (Non-GAAP)	$	908		$	1,371		$	2,428		$	1,775		$	—		$	—		$	—		$	—		$	6,482
Operating Income
Reported (GAAP)	$	256		$	82		$	393		$	325		$	28		$	(55	)	$	(45	)	$	187		$	1,171
Simplify to Grow Program		53			43			48			19			—			12			—			—			175
Intangible asset impairment charges		5			53			11			3			—			(1	)		—			—			71
Mark-to-market (gains)/losses from derivatives		—			—			—			—			(28	)		—			—			—			(28	)
Malware incident incremental expenses		1			2			9			34			—			1			—			—			47
Acquisition integration costs		—			1			—			—			—			—			—			—			1
Divestiture-related costs		—			2			(2	)		—			—			—			—			—			—
Operating income from divestitures		—			(1	)		(4	)		—			—			—			—			—			(5	)
(Gain)/loss on divestitures		—			—			—			—			—			—			—			(187	)		(187	)
Impacts from resolution of tax matters		(153	)		—			(2	)		—			—			—			—			—			(155	)
Rounding		—			—			—			—			—			(1	)		—			—			(1	)
Adjusted (Non-GAAP)	$	162		$	182		$	453		$	381		$	—		$	(44	)	$	(45	)	$	—		$	1,089
Operating income from MEA cheese business divestiture		—			(7	)		—			—			—			—			—			—			(7	)
Revised Adjusted (Non-GAAP)	$	162		$	175		$	453		$	381		$	—		$	(44	)	$	(45	)	$	—		$	1,082
Operating Income Margin
Reported %		28.2	%		5.8	%		16.1	%		18.3	%														17.9	%
Adjusted %		17.8	%		13.0	%		18.7	%		21.5	%														16.7	%
Revised Adjusted %		17.8	%		12.8	%		18.7	%		21.5	%														16.7	%

Schedule 5.5

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Segment Data

(in millions of U.S. dollars)

(Unaudited)

	For the Three Months Ended June 30, 2018
	Latin America			AMEA			Europe			North America			Unrealized G/(L) on Hedging Activities			General Corporate Expenses			Amortization of Intangibles			Other Items			Mondelēz International
Net Revenue
Reported (GAAP)	$	774		$	1,360		$	2,303		$	1,675		$	—		$	—		$	—		$	—		$	6,112
Divestitures		—			—			—			—			—			—			—			—			—
Adjusted (Non-GAAP)	$	774		$	1,360		$	2,303		$	1,675		$	—		$	—		$	—		$	—		$	6,112
MEA cheese business divestiture		—			(32	)		—			—			—			—			—			—			(32	)
Revised Adjusted (Non-GAAP)	$	774		$	1,328		$	2,303		$	1,675		$	—		$	—		$	—		$	—		$	6,080
Operating Income
Reported (GAAP)	$	92		$	177		$	367		$	(95	)	$	88		$	(91	)	$	(44	)	$	(13	)	$	481
Simplify to Grow Program		27			25			76			35			—			16			—			—			179
Mark-to-market (gains)/losses from derivatives		—			—			—			—			(88	)		—			—			—			(88	)
Acquisition integration costs		—			2			—			—			—			—			—			—			2
Acquisition-related costs		—			—			—			—			—			—			—			13			13
Impact of pension participation changes		—			—			—			408			—			—			—			—			408
Impacts from resolution of tax matters		—			—			—			—			—			11			—			—			11
CEO transition remuneration		—			—			—			—			—			10			—			—			10
Rounding		—			—			—			—			—			2			—			—			2
Adjusted (Non-GAAP)	$	119		$	204		$	443		$	348		$	—		$	(52)		$	(44	)	$	—		$	1,018
Operating income from MEA cheese business divestiture		—			(2	)		—			—			—			—			—			—			(2	)
Revised Adjusted (Non-GAAP)	$	119		$	202		$	443		$	348		$	—		$	(52)		$	(44	)	$	—		$	1,016
Currency		12			(5	)		(22	)		—			—			4			1			—			(10	)
Revised Adjusted @ Constant FX (Non-GAAP)	$	131		$	197		$	421		$	348		$	—		$	(48)		$	(43	)	$	—		$	1,006
% Change - Reported (GAAP)		(9.8	)%		9.9	%		14.3	%		(142.2	)%		n/m			(13.8	)%		0.0	%		n/m			(24.4	)%
% Change - Adjusted (Non-GAAP)		(0.8	)%		0.0	%		15.4	%		13.7	%		n/m			18.8	%		0.0	%		n/m			12.4	%
% Change - Revised Adjusted (Non-GAAP)		(0.8	)%		2.5	%		15.4	%		13.7	%		n/m			18.8	%		0.0	%		n/m			13.0	%
% Change - Revised Adjusted @ Constant FX (Non-GAAP)		9.2	%		0.0	%		9.6	%		13.7	%		n/m			25.0	%		2.3	%		n/m			11.9	%
Operating Income Margin
Reported %		11.9	%		13.0	%		15.9	%		(5.7	)%														7.9	%
Reported pp change		(0.1	)pp		1.5 pp			1.1 pp			(20.0	)pp														(2.7	)pp
Adjusted %		15.4	%		15.0	%		19.2	%		20.8	%														16.7	%
Adjusted pp change		1.2 pp			(0.4	)pp		1.1 pp			1.3 pp															1.3 pp
Revised Adjusted %		15.4	%		15.2	%		19.2	%		20.8	%														16.7	%
Revised Adjusted pp change		1.2 pp			— pp			1.1 pp			1.3 pp															1.3 pp
	For the Three Months Ended June 30, 2017
	Latin America			AMEA			Europe			North America			Unrealized G/(L) on Hedging Activities			General Corporate Expenses			Amortization of Intangibles			Other Items			Mondelēz International
Net Revenue
Reported (GAAP)	$	848		$	1,394		$	2,171		$	1,573		$	—		$	—		$	—		$	—		$	5,986
Divestitures		—			(66	)		(44	)		—			—			—			—			—			(110	)
Adjusted (Non-GAAP)	$	848		$	1,328		$	2,127		$	1,573		$	—		$	—		$	—		$	—		$	5,876
MEA cheese business divestiture		—			(33	)		—			—			—			—			—			—			(33	)
Revised Adjusted (Non-GAAP)	$	848		$	1,295		$	2,127		$	1,573		$	—		$	—		$	—		$	—		$	5,843
Operating Income
Reported (GAAP)	$	102		$	161		$	321		$	225		$	(46	)	$	(80	)	$	(44	)	$	(3	)	$	636
Simplify to Grow Program		18			58			69			39			—			15			—			—			199
Intangible asset impairment charges		—			—			—			38			—			—			—			—			38
Mark-to-market (gains)/losses from derivatives		—			—			—			—			46			—			—			—			46
Malware incident incremental expenses		—			—			2			4			—			1			—			—			7
Divestiture-related costs		—			1			3			—			—			—			—			—			4
Operating income from divestitures		—			(16	)		(12	)		—			—			—			—			—			(28	)
(Gain)/loss on divestitures		—			—			—			—			—			—			—			3			3
(Income)/costs associated with the JDE coffee business transactions		—			—			1			—			—			(1	)		—			—			—
Rounding		—			—			—			—			—			1			—			—			1
Adjusted (Non-GAAP)	$	120		$	204		$	384		$	306		$	—		$	(64	)	$	(44	)	$	—		$	906
Operating income from MEA cheese business divestiture		—			(7	)		—			—			—			—			—			—			(7	)
Revised Adjusted (Non-GAAP)	$	120		$	197		$	384		$	306		$	—		$	(64	)	$	(44	)	$	—		$	899
Operating Income Margin
Reported %		12.0	%		11.5	%		14.8	%		14.3	%														10.6	%
Adjusted %		14.2	%		15.4	%		18.1	%		19.5	%														15.4	%
Revised Adjusted %		14.2	%		15.2	%		18.1	%		19.5	%														15.4	%

Schedule 5.6

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Segment Data

(in millions of U.S. dollars)

(Unaudited)

	For the Three Months Ended March 31, 2018
	Latin America			AMEA			Europe			North America			Unrealized G/(L) on Hedging Activities			General Corporate Expenses			Amortization of Intangibles			Mondelēz International
Net Revenue
Reported (GAAP)	$	891		$	1,542		$	2,706		$	1,626		$	—		$	—		$	—		$	6,765
Divestitures		—			—			—			—			—			—			—			—
Adjusted (Non-GAAP)	$	891		$	1,542		$	2,706		$	1,626		$	—		$	—		$	—		$	6,765
MEA cheese business divestiture		—			(31	)		—			—			—			—			—			(31	)
Revised Adjusted (Non-GAAP)	$	891		$	1,511		$	2,706		$	1,626		$	—		$	—		$	—		$	6,734
Operating Income
Reported (GAAP)	$	126		$	228		$	497		$	275		$	206		$	(64	)	$	(44	)	$	1,224
Simplify to Grow Program		39			18			23			29			—			5			—			114
Mark-to-market (gains)/losses from derivatives		—			—			—			—			(206	)		—			—			(206	)
Acquisition integration costs		—			1			—			—			—			—			—			1
Divestiture-related costs		—			—			—			—			—			(3	)		—			(3	)
CEO transition remuneration		—			—			—			—			—			4			—			4
Rounding		—			—			—			—			—			(1	)		—			(1	)
Adjusted (Non-GAAP)	$	165		$	247		$	520		$	304		$	—		$	(59)		$	(44	)	$	1,133
Operating income from MEA cheese business divestiture		—			(6	)		—			—			—			—			—			(6	)
Revised Adjusted (Non-GAAP)	$	165		$	241		$	520		$	304		$	—		$	(59)		$	(44	)	$	1,127
Currency		6			(10	)		(67	)		—			—			—			2			(69	)
Revised Adjusted @ Constant FX (Non-GAAP)	$	171		$	231		$	453		$	304		$	—		$	(59)		$	(42	)	$	1,058
% Change - Reported (GAAP)		13.5	%		26.0	%		26.5	%		(5.8	)%		n/m			(12.3	)%		0.0	%		48.4	%
% Change - Adjusted (Non-GAAP)		14.6	%		18.8	%		21.5	%		(11.4	)%		n/m			(28.3	)%		0.0	%		9.7	%
% Change - Revised Adjusted (Non-GAAP)		14.6	%		22.3	%		21.5	%		(11.4	)%		n/m			(28.3	)%		0.0	%		10.3	%
% Change - Revised Adjusted @ Constant FX (Non-GAAP)		18.8	%		17.3	%		5.8	%		(11.4	)%		n/m			(28.3	)%		4.5	%		3.5	%
Operating Income Margin
Reported %		14.1	%		14.8	%		18.4	%		16.9	%											18.1	%
Reported pp change		1.9 pp			2.7 pp			1.8 pp			(0.8	)pp											5.2 pp
Adjusted %		18.5	%		16.0	%		19.2	%		18.7	%											16.7	%
Adjusted pp change		2.7 pp			1.5 pp			0.5 pp			(2.1	)pp											0.2 pp
Revised Adjusted %		18.5	%		15.9	%		19.2	%		18.7	%											16.7	%
Revised Adjusted pp change		2.7 pp			1.8 pp			0.5 pp			(2.1	)pp											0.3 pp
	For the Three Months Ended March 31, 2017
	Latin America			AMEA			Europe			North America			Unrealized G/(L) on Hedging Activities			General Corporate Expenses			Amortization of Intangibles			Mondelēz International
Net Revenue
Reported (GAAP)	$	910		$	1,491		$	2,365		$	1,648		$	—		$	—		$	—		$	6,414
Divestitures		—			(59	)		(77	)		—			—			—			—			(136	)
Adjusted (Non-GAAP)	$	910		$	1,432		$	2,288		$	1,648		$	—		$	—		$	—		$	6,278
MEA cheese business divestiture		—			(36	)		—			—			—			—			—			(36	)
Revised Adjusted (Non-GAAP)	$	910		$	1,396		$	2,288		$	1,648		$	—		$	—		$	—		$	6,242
Operating Income
Reported (GAAP)	$	111		$	181		$	393		$	292		$	(51	)	$	(57	)	$	(44	)	$	825
Simplify to Grow Program		33			35			81			51			—			11			—			211
Mark-to-market (gains)/losses from derivatives		—			—			—			—			51			—			—			51
Acquisition integration costs		—			1			—			—			—			—			—			1
Divestiture-related costs		—			1			18			—			—			—			—			19
Operating income from divestitures		—			(10	)		(17	)		—			—			—			—			(27	)
(Income)/costs associated with the JDE coffee business transactions		—			—			(1	)		—			—			1			—			—
Impacts from resolution of tax matters		—			—			(46	)		—			—			—			—			(46	)
Rounding		—			—			—			—			—			(1	)		—			(1	)
Adjusted (Non-GAAP)	$	144		$	208		$	428		$	343		$	—		$	(46	)	$	(44	)	$	1,033
Operating income from MEA cheese business divestiture		—			(11	)		—			—			—			—			—			(11	)
Revised Adjusted (Non-GAAP)	$	144		$	197		$	428		$	343		$	—		$	(46	)	$	(44	)	$	1,022
Operating Income Margin
Reported %		12.2	%		12.1	%		16.6	%		17.7	%											12.9	%
Adjusted %		15.8	%		14.5	%		18.7	%		20.8	%											16.5	%
Revised Adjusted %		15.8	%		14.1	%		18.7	%		20.8	%											16.4	%

Schedule 5.7

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Segment Data

(in millions of U.S. dollars)

(Unaudited)

	For the Twelve Months Ended December 31, 2017
	Latin America			AMEA			Europe			North America			Unrealized G/(L) on Hedging Activities			General Corporate Expenses			Amortization of Intangibles			Other Items			Mondelēz International
Net Revenue
Reported (GAAP)	$	3,566		$	5,739		$	9,794		$	6,797		$	—		$	—		$	—		$	—		$	25,896
Divestitures		—			(133	)		(137	)		—			—			—			—			—			(270	)
Adjusted (Non-GAAP)	$	3,566		$	5,606		$	9,657		$	6,797		$	—		$	—		$	—		$	—		$	25,626
MEA cheese business divestiture		—			(132	)		—			—			—			—			—			—			(132	)
Revised Adjusted (Non-GAAP)	$	3,566		$	5,474		$	9,657		$	6,797		$	—		$	—		$	—		$	—		$	25,494
Operating Income
Reported (GAAP)	$	564		$	514		$	1,610		$	1,144		$	(96	)	$	(282	)	$	(178	)	$	186		$	3,462
Simplify to Grow Program		136			183			263			142			—			53			—			—			777
Intangible asset impairment charges		5			52			11			41			—			—			—			—			109
Mark-to-market (gains)/losses from derivatives		—			—			—			—			96			—			—			—			96
Malware incident incremental expenses		1			2			15			61			—			5			—			—			84
Acquisition integration costs		—			3			—			—			—			—			—			—			3
Divestiture-related costs		—			3			21			—			—			7			—			—			31
Operating income from divestitures		—			(27	)		(34	)		—			—			—			—			—			(61	)
(Gain)/loss on divestitures		—			—			—			—			—			—			—			(186	)		(186	)
Benefits from resolution of tax matters		(153	)		—			(49	)		(7	)		—			—			—			—			(209	)
CEO transition remuneration		—			—			—			—			—			14			—			—			14
Rounding		—			—			—			—			—			(1	)		—			—			(1	)
Adjusted (Non-GAAP)	$	553		$	730		$	1,837		$	1,381		$	—		$	(204)		$	(178	)	$	—		$	4,119
Operating income from MEA cheese business divestiture		—			(31	)		—			—			—			—			—			—			(31	)
Revised Adjusted (Non-GAAP)	$	553		$	699		$	1,837		$	1,381		$	—		$	(204)		$	(178	)	$	—		$	4,088
Currency		(20	)		44			(22	)		(4	)		—			(2	)		1			—			(3	)
Revised Adjusted @ Constant FX (Non-GAAP)	$	533		$	743		$	1,815		$	1,377		$	—		$	(206)		$	(177	)	$	—		$	4,085
% Change - Reported (GAAP)		107.4	%		1.8	%		34.4	%		1.4	%		n/m			1.7	%		(1.1	)%		n/m			35.6	%
% Change - Adjusted (Non-GAAP)		26.5	%		12.8	%		12.6	%		(4.5	)%		n/m			4.2	%		(1.1	)%		n/m			9.2	%
% Change - Revised Adjusted (Non-GAAP)		26.5	%		15.2	%		12.6	%		(4.5	)%		n/m			4.2	%		(1.1	)%		n/m			9.5	%
% Change - Revised Adjusted @ Constant FX (Non-GAAP)		22.0	%		22.4	%		11.2	%		(4.8	)%		n/m			3.3	%		(0.6	)%		n/m			9.4	%
Operating Income Margin
Reported %		15.8	%		9.0	%		16.4	%		16.8	%														13.4	%
Reported pp change		7.8 pp			0.3 pp			4.1 pp			0.6 pp															3.5 pp
Adjusted %		15.5	%		13.0	%		19.0	%		20.3	%														16.1	%
Adjusted pp change		2.6 pp			1.4 pp			1.6 pp			(0.5	)pp														1.2 pp
Revised Adjusted %		15.5	%		12.8	%		19.0	%		20.3	%														16.0	%
Revised Adjusted pp change		2.6 pp			1.5 pp			1.6 pp			(0.5	)pp														1.1 pp
	For the Twelve Months Ended December 31, 2016
	Latin America			AMEA			Europe			North America			Unrealized G/(L) on Hedging Activities			General Corporate Expenses			Amortization of Intangibles			Other Items			Mondelēz International
Net Revenue
Reported (GAAP)	$	3,392		$	5,816		$	9,755		$	6,960		$	—		$	—		$	—		$	—		$	25,923
Divestitures		(8	)		(261	)		(371	)		(13	)		—			—			—			—			(653	)
Adjusted (Non-GAAP)	$	3,384		$	5,555		$	9,384		$	6,947		$	—		$	—		$	—		$	—		$	25,270
MEA cheese business divestiture		—			(161	)		—			—			—			—			—			—			(161	)
Revised Adjusted (Non-GAAP)	$	3,384		$	5,394		$	9,384		$	6,947		$	—		$	—		$	—		$	—		$	25,109
Operating Income
Reported (GAAP)	$	272		$	505		$	1,198		$	1,128		$	(94	)	$	(287	)	$	(176	)	$	8		$	2,554
Simplify to Grow Program		165			144			398			294			—			71			—			—			1,072
Intangible asset impairment charges		2			45			50			39			—			1			—			—			137
Mark-to-market (gains)/losses from derivatives		—			—			—			—			94			—			—			—			94
Acquisition integration costs		—			7			—			—			—			—			—			—			7
Acquisition-related costs		—			—			—			—			—			—			—			1			1
Divestiture-related costs		—			—			86			—			—			—			—			—			86
Operating income from divestitures		(2	)		(54	)		(89	)		(8	)		—			—			—			—			(153	)
(Gain)/loss on divestitures		—			—			—			—			—			—			—			(9	)		(9	)
(Income)/costs associated with the JDE coffee business transactions		—			—			(3	)		—			—			1			—			—			(2	)
(Gain)/loss on sale of intangible assets		—			—			(8	)		(7	)		—			—			—			—			(15	)
Rounding		—			—			—			—			—			1			—			—			1
Adjusted (Non-GAAP)	$	437		$	647		$	1,632		$	1,446		$	—		$	(213	)	$	(176	)	$	—		$	3,773
Operating income from MEA cheese business divestiture		—			(40	)		—			—			—			—			—			—			(40	)
Revised Adjusted (Non-GAAP)	$	437		$	607		$	1,632		$	1,446		$	—		$	(213	)	$	(176	)	$	—		$	3,733
Operating Income Margin
Reported %		8.0	%		8.7	%		12.3	%		16.2	%														9.9	%
Adjusted %		12.9	%		11.6	%		17.4	%		20.8	%														14.9	%
Revised Adjusted %		12.9	%		11.3	%		17.4	%		20.8	%														14.9	%