EX-99.1

EX-99.1 2 d169801dex991.htm EX-99.1 EX-99.1

Exhibit 99.1

U.S. GAAP to Non-GAAP Reconciliations

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

Schedule 1.a

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Net Earnings and Tax Rate

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

(Unaudited)


	For the Six Months Ended June 30, 2021
	Operating Income			Benefit plan non- service expense / (income)			Interest and other expense, net			Earnings before income taxes			Income taxes ⁽¹⁾			Effective tax rate			Gain on equity method investment transactions			Equity method investment net losses / (earnings)			Non- controlling interest earnings		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP)	$	2,155		$	(98	)	$	276		$	1,977		$	610			30.9	%	$	(495	)	$	(185	)	$	8	$	2,039		$	1.44
Simplify to Grow Program		254			(1	)		—			255			66						—			—			—		189			0.13
Intangible asset impairment charges		32			—			—			32			8						—			—			—		24			0.02
Mark-to-market (gains)/losses from derivatives		(138	)		—			(4	)		(134	)		(18	)					—			—			—		(116	)		(0.08	)
Acquisition integration costs		3			—			—			3			1						—			—			—		2			—
Acquisition-related costs		24			—			—			24			4						—			—			—		20			0.01
Gain on acquisition		(9	)		—			—			(9	)		(2	)					—			—			—		(7	)		—
Remeasurement of net monetary position		8			—			—			8			—						—			—			—		8			—
Impact from pension participation changes		45			14			(6	)		37			8						—			—			—		29			0.02
Impact from resolution of tax matters		(5	)		—			2			(7	)		(1	)					—			—			—		(6	)		—
Loss on debt extinguishment and related expenses		—			—			(137	)		137			34						—			—			—		103			0.07
Initial impacts from enacted tax law changes		—			—			—			—			(99	)					—			—			—		99			0.07
Gain on equity method investment transactions		—			—			—			—			(125	)					495			—			—		(370	)		(0.26	)
Equity method investee items		—			—			—			—			4						—			(67	)		—		63			0.04

Adjusted (Non-GAAP)	$	2,369		$	(85	)	$	131		$	2,323		$	490			21.1	%	$	—		$	(252	)	$	8	$	2,077		$	1.46
Net earnings from divestitures - KDP		—			—			—			—			(4	)					—			16			—		(12	)		(0.01	)
Change in equity method investee items		—			—			—			—			(1	)					—			3			—		(2	)		—

Adjusted (Non-GAAP) - As Recast	$	2,369		$	(85	)	$	131		$	2,323		$	485			20.9	%	$	—		$	(233	)	$	8	$	2,063		$	1.45

Currency																												(110	)		(0.07	)

Adjusted @ Constant FX (Non-GAAP) - As Recast																											$	1,953		$	1.38

Diluted Average Shares Outstanding																															1,419

	For the Six Months Ended June 30, 2020
	Operating Income			Benefit plan non- service expense / (income)			Interest and other expense, net			Earnings before income taxes			Income taxes⁽¹⁾			Effective tax rate			Gain on equity method investment transactions			Equity method investment net losses / (earnings)			Non- controlling interest earnings		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP)	$	1,569		$	(64	)	$	275		$	1,358		$	489			36.0	%	$	(192	)	$	(227	)	$	8	$	1,280		$	0.89
Simplify to Grow Program		134			(4	)		—			138			33						—			—			—		105			0.07
Intangible asset impairment charges		90			—			—			90			21						—			—			—		69			0.05
Mark-to-market (gains)/losses from derivatives		187			—			1			186			32						—			—			—		154			0.11
Acquisition integration costs		2			—			—			2			—						—			—			—		2			—
Acquisition-related costs		15			—			—			15			3						—			—			—		12			0.01
Divestiture-related costs		(2	)		—			—			(2	)		—						—			—			—		(2	)		—
Net earnings from divestitures		—			—			—			—			(6	)					—			44			—		(38	)		(0.02	)
Costs associated with JDE Peet’s transaction		48			—			—			48			(261	)					—			—			—		309			0.21
Remeasurement of net monetary position		5			—			—			5			—						—			—			—		5			—
Impact from pension participation changes		—			—			(6	)		6			1						—			—			—		5			—
Loss related to interest rate swaps		—			—			(103	)		103			24						—			—			—		79			0.06
Gain on equity method investment transactions		—			—			—			—			(17	)					192			—			—		(175	)		(0.12	)
Equity method investee items		—			—			—			—			5						—			(39	)		—		34			0.02

Adjusted (Non-GAAP)	$	2,048		$	(68	)	$	167		$	1,949		$	324			16.6	%	$	—		$	(222	)	$	8	$	1,839		$	1.28
Net earnings from divestitures - KDP		—			—			—			—			(3	)					—			12			—		(9	)		(0.01	)
Change in equity method investee items		—			—			—			—			(1	)					—			5			—		(4	)		—

Adjusted (Non-GAAP) - As Recast	$	2,048		$	(68	)	$	167		$	1,949		$	320			16.4	%	$	—		$	(205	)	$	8	$	1,826		$	1.27

Diluted Average Shares Outstanding																															1,442

⁽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 1.b

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, 2021
	Operating Income			Benefit plan non- service expense / (income)			Interest and other expense, net			Earnings before income taxes			Income taxes ⁽¹⁾			Effective tax rate			Gain on equity method investment transactions			Equity method investment net losses / (earnings)			Non- controlling interest earnings		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP)	$	872		$	(54	)	$	58		$	868		$	398			45.9	%	$	(502	)	$	(107	)	$	1	$	1,078		$	0.76
Simplify to Grow Program		132			(1	)		—			133			35						—			—			—		98			0.07
Intangible asset impairment charges		32			—			—			32			8						—			—			—		24			0.02
Mark-to-market (gains)/losses from derivatives		(20	)		—			(3	)		(17	)		4						—			—			—		(21	)		(0.02	)
Acquisition integration costs		2			—			—			2			1						—			—			—		1			—
Acquisition-related costs		17			—			—			17			3						—			—			—		14			0.01
Remeasurement of net monetary position		3			—			—			3			—						—			—			—		3			—
Impact from pension participation changes		44			14			(3	)		33			7						—			—			—		26			0.02
Impact from resolution of tax matters		(5	)		—			2			(7	)		(1	)					—			—			—		(6	)		—
Initial impacts from enacted tax law changes		—			—			—			—			(95	)					—			—			—		95			0.07
Gain on equity method investment transactions		—			—			—			—			(125	)					502			—			—		(377	)		(0.27	)
Equity method investee items		—			—			—			—			3						—			(8	)		—		5			—

Adjusted (Non-GAAP)	$	1,077		$	(41	)	$	54		$	1,064		$	238			22.4	%	$	—		$	(115	)	$	1	$	940		$	0.66
Net earnings from divestitures - KDP		—			—			—			—			(2	)					—			7			—		(5	)		—
Change in equity method investee items		—			—			—			—			(1	)					—			2			—		(1	)		—

Adjusted (Non-GAAP) - As Recast	$	1,077		$	(41	)	$	54		$	1,064		$	235			22.1	%	$	—		$	(106	)	$	1	$	934		$	0.66

Currency																												(60	)		(0.04	)

Adjusted @ Constant FX (Non-GAAP) - As Recast																											$	874		$	0.62

Diluted Average Shares Outstanding																															1,416

	For the Three Months Ended June 30, 2020
	Operating Income			Benefit plan non- service expense / (income)			Interest and other expense, net			Earnings before income taxes			Income taxes ⁽¹⁾			Effective tax rate			Gain on equity method investment transactions			Equity method investment net losses / (earnings)			Non- controlling interest earnings		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP)	$	713		$	(31	)	$	85		$	659		$	341			51.7	%	$	(121	)	$	(106	)	$	1	$	544		$	0.38
Simplify to Grow Program		76			(4	)		—			80			20						—			—			—		60			0.04
Intangible asset impairment charges		90			—			—			90			21						—			—			—		69			0.05
Mark-to-market (gains)/losses from derivatives		2			—			—			2			—						—			—			—		2			—
Acquisition integration costs		2			—			—			2			—						—			—			—		2			—
Acquisition-related costs		10			—			—			10			2						—			—			—		8			0.01
Divestiture-related costs		(2	)		—			—			(2	)		—						—			—			—		(2	)		—
Net earnings from divestitures		—			—			—			—			(1	)					—			16			—		(15	)		(0.01	)
Costs associated with JDE Peet’s transaction		48			—			—			48			(261	)					—			—			—		309			0.21
Remeasurement of net monetary position		3			—			—			3			—						—			—			—		3			—
Impact from pension participation changes		—			—			(3	)		3			—						—			—			—		3			—
Gain on equity method investment transactions		—			—			—			—			—						121			—			—		(121	)		(0.08	)
Equity method investee items		—			—			—			—			4						—			(23	)		—		19			0.01

Adjusted (Non-GAAP)	$	942		$	(35	)	$	82		$	895		$	126			14.1	%	$	—		$	(113	)	$	1	$	881		$	0.61
Net earnings from divestitures - KDP		—			—			—			—			(1	)					—			4			—		(3	)		—
Change in equity method investee items		—			—			—			—			—						—			4			—		(4	)		—

Adjusted (Non-GAAP) - As Recast	$	942		$	(35	)	$	82		$	895		$	125			14.0	%	$	—		$	(105	)	$	1	$	874		$	0.61

Diluted Average Shares Outstanding																															1,439

⁽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 1.c

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, 2021
	Operating Income			Benefit plan non- service expense / (income)			Interest and other expense, net			Earnings before income taxes			Income taxes ⁽¹⁾			Effective tax rate			Loss on equity method investment transactions			Equity method investment net losses / (earnings)			Non- controlling interest earnings		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP)	$	1,283		$	(44	)	$	218		$	1,109		$	212			19.1	%	$	7		$	(78	)	$	7	$	961		$	0.68
Simplify to Grow Program		122			—			—			122			31						—			—			—		91			0.07
Mark-to-market (gains)/losses from derivatives		(118	)		—			(1	)		(117	)		(22	)					—			—			—		(95	)		(0.07	)
Acquisition integration costs		1			—			—			1			—						—			—			—		1			—
Acquisition-related costs		7			—			—			7			1						—			—			—		6			0.01
Gain on acquisition		(9	)		—			—			(9	)		(2	)					—			—			—		(7	)		—
Remeasurement of net monetary position		5			—			—			5			—						—			—			—		5			—
Impact from pension participation changes		1			—			(3	)		4			1						—			—			—		3			—
Loss on debt extinguishment and related expenses		—			—			(137	)		137			34						—			—			—		103			0.07
Initial impacts from enacted tax law changes		—			—			—			—			(4	)					—			—			—		4			—
Loss on equity method investment transactions		—			—			—			—			—						(7	)		—			—		7			—
Equity method investee items		—			—			—			—			1						—			(59	)		—		58			0.04

Adjusted (Non-GAAP)	$	1,292		$	(44	)	$	77		$	1,259		$	252			20.0	%	$	—		$	(137	)	$	7	$	1,137		$	0.80
Net earnings from divestitures - KDP		—			—			—			—			(2	)					—			9			—		(7	)		(0.01	)
Change in equity method investee items		—			—			—			—			—						—			1			—		(1	)		—

Adjusted (Non-GAAP) - As Recast	$	1,292		$	(44	)	$	77		$	1,259		$	250			19.9	%	$	—		$	(127	)	$	7	$	1,129		$	0.79

Currency																												(50	)		(0.03	)

Adjusted @ Constant FX (Non-GAAP) - As Recast																											$	1,079		$	0.76

Diluted Average Shares Outstanding																															1,422

	For the Three Months Ended March 31, 2020
	Operating Income			Benefit plan non- service expense / (income)			Interest and other expense, net			Earnings before income taxes			Income taxes ⁽¹⁾			Effective tax rate			Gain on equity method investment transactions			Equity method investment net losses / (earnings)			Non- controlling interest earnings		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP)	$	856		$	(33	)	$	190		$	699		$	148			21.2	%	$	(71	)	$	(121	)	$	7	$	736		$	0.51
Simplify to Grow Program		58			—			—			58			13						—			—			—		45			0.03
Mark-to-market (gains)/losses from derivatives		185			—			1			184			32						—			—			—		152			0.11
Acquisition-related costs		5			—			—			5			1						—			—			—		4			—
Net earnings from divestitures		—			—			—			—			(5	)					—			28			—		(23	)		(0.01	)
Remeasurement of net monetary position		2			—			—			2			—						—			—			—		2			—
Impact from pension participation changes		—			—			(3	)		3			1						—			—			—		2			—
Loss related to interest rate swaps		—			—			(103	)		103			24						—			—			—		79			0.05
Gain on equity method investment transactions		—			—			—			—			(17	)					71			—			—		(54	)		(0.04	)
Equity method investee items		—			—			—			—			1						—			(16	)		—		15			0.01

Adjusted (Non-GAAP)	$	1,106		$	(33	)	$	85		$	1,054		$	198			18.8	%	$	—		$	(109	)	$	7	$	958		$	0.66
Net earnings from divestitures - KDP		—			—			—			—			(2	)					—			8			—		(6	)		—
Change in equity method investee items		—			—			—			—			(1	)					—			1			—		—			—

Adjusted (Non-GAAP) - As Recast	$	1,106		$	(33	)	$	85		$	1,054		$	195			18.5	%	$	—		$	(100	)	$	7	$	952		$	0.66

Diluted Average Shares Outstanding																															1,445

⁽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 1.d

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, 2020
	Operating Income			Benefit plan non- service expense / (income)			Interest and other expense, net			Earnings before income taxes			Income taxes ⁽¹⁾			Effective tax rate			Gain on equity method investment transactions			Equity method investment net losses / (earnings)			Non- controlling interest earnings		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP)	$	3,853		$	(138	)	$	608		$	3,383		$	1,224			36.2	%	$	(989	)	$	(421	)	$	14	$	3,555		$	2.47
Simplify to Grow Program		360			(3	)		—			363			81						—			—			—		282			0.20
Intangible asset impairment charges		144			—			—			144			33						—			—			—		111			0.08
Mark-to-market (gains)/losses from derivatives		(16	)		—			3			(19	)		(8	)					—			—			—		(11	)		(0.01	)
Acquisition integration costs		4			—			—			4			2						—			—			—		2			—
Acquisition-related costs		15			—			—			15			—						—			—			—		15			0.01
Divestiture-related costs		4			—			—			4			—						—			—			—		4			—
Net earnings from divestitures		—			—			—			—			(15	)					—			74			—		(59	)		(0.04	)
Costs associated with JDE Peet’s transaction		48			—			—			48			(250	)					—			—			—		298			0.20
Remeasurement of net monetary position		9			—			—			9			—						—			—			—		9			0.01
Impact from pension participation changes		—			—			(11	)		11			2						—			—			—		9			0.01
Impact from resolution of tax matters		(20	)		—			28			(48	)		(16	)					—			—			—		(32	)		(0.02	)
Loss related to interest rate swaps		—			—			(103	)		103			24						—			—			—		79			0.05
Loss on debt extinguishment and related expenses		—			—			(185	)		185			46						—			—			—		139			0.10
Initial impacts from enacted tax law changes		—			—			—			—			(36	)					—			—			—		36			0.02
Gain on equity method investment transactions		—			—			—			—			(202	)					989			—			—		(787	)		(0.55	)
Equity method investee items		—			—			—			—			7						—			(91	)		—		84			0.06

Adjusted (Non-GAAP)	$	4,401		$	(141	)	$	340		$	4,202		$	892			21.2	%	$	—		$	(438	)	$	14	$	3,734		$	2.59
Net earnings from divestitures - KDP		—			—			—			—			(7	)					—			28			—		(21	)		(0.02	)
Change in equity method investee items		—			—			—			—			(2	)					—			7			—		(5	)		—

Adjusted (Non-GAAP) - As Recast	$	4,401		$	(141	)	$	340		$	4,202		$	883			21.0	%	$	—		$	(403	)	$	14	$	3,708		$	2.57

Currency																												49			0.04

Adjusted @ Constant FX (Non-GAAP) - As Recast																											$	3,757		$	2.61

Diluted Average Shares Outstanding																															1,441

	For the Twelve Months Ended December 31, 2019
	Operating Income			Benefit plan non- service expense / (income)			Interest and other expense, net			Earnings before income taxes			Income taxes ⁽¹⁾			Effective tax rate			Loss on equity method investment transactions			Equity method investment net losses / (earnings)			Non- controlling interest earnings		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP)	$	3,843		$	(60	)	$	456		$	3,447		$	2			0.1	%	$	2		$	(501	)	$	15	$	3,929		$	2.69
Simplify to Grow Program		442			(6	)		—			448			103						—			—			—		345			0.24
Intangible asset impairment charges		57			—			—			57			14						—			—			—		43			0.03
Mark-to-market (gains)/losses from derivatives		(91	)		—			(1	)		(90	)		(19	)					—			—			—		(71	)		(0.05	)
Acquisition-related costs		3			—			—			3			1						—			—			—		2			—
Divestiture-related costs		6			—			—			6			—						—			—			—		6			—
Net earnings from divestitures		(9	)		—			—			(9	)		(15	)					—			95			—		(89	)		(0.06	)
Gain on divestitures		(44	)		—			—			(44	)		(3	)					—			—			—		(41	)		(0.03	)
Remeasurement of net monetary position		(4	)		—			—			(4	)		—						—			—			—		(4	)		—
Impact from pension participation changes		(35	)		—			(6	)		(29	)		(8	)					—			—			—		(21	)		(0.02	)
Impact from resolution of tax matters		85			—			—			85			21						—			—			—		64			0.05
CEO transition remuneration		9			—			—			9			—						—			—			—		9			0.01
Loss related to interest rate swaps		—			—			(111	)		111			—						—			—			—		111			0.08
Initial impacts from enacted tax law changes		2			—			—			2			754						—			—			—		(752	)		(0.52	)
Loss on equity method investment transactions		—			—			—			—			(6	)					(2	)		—			—		8			0.01
Equity method investee items		—			—			—			—			6						—			5			—		(11	)		(0.01	)

Adjusted (Non-GAAP)	$	4,264		$	(66	)	$	338		$	3,992		$	850			21.3	%	$	—		$	(401	)	$	15	$	3,528		$	2.42
Net earnings from divestitures - KDP		—			—			—			—			(5	)					—			23			—		(18	)		(0.02	)
Change in equity method investee items		—			—			—			—			(2	)					—			8			—		(6	)		—

Adjusted (Non-GAAP) - As Recast	$	4,264		$	(66	)	$	338		$	3,992		$	843			21.1	%	$	—		$	(370	)	$	15	$	3,504		$	2.40

Diluted Average Shares Outstanding																															1,458

⁽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 1.e

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, 2020
	Operating Income			Benefit plan non- service expense / (income)			Interest and other expense, net			Earnings before income taxes			Income taxes ⁽¹⁾			Effective tax rate			Gain on equity method investment transactions			Equity method investment net losses / (earnings)			Non- controlling interest earnings		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP)	$	1,149		$	(36	)	$	244		$	941		$	344			36.6	%	$	(452	)	$	(110	)	$	3	$	1,156		$	0.80
Simplify to Grow Program		112			1			—			111			26						—			—			—		85			0.06
Mark-to-market (gains)/losses from derivatives		(58	)		—			(1	)		(57	)		(13	)					—			—			—		(44	)		(0.03	)
Acquisition integration costs		2			—			—			2			2						—			—			—		—			—
Net earnings from divestitures		—			—			—			—			(3	)					—			13			—		(10	)		—
Costs associated with JDE Peet’s transaction		—			—			—			—			11						—			—			—		(11	)		(0.01	)
Remeasurement of net monetary position		2			—			—			2			—						—			—			—		2			—
Impact from pension participation changes		—			—			(2	)		2			—						—			—			—		2			—
Impact from resolution of tax matters		(20	)		—			28			(48	)		(16	)					—			—			—		(32	)		(0.02	)
Loss on debt extinguishment and related expenses		—			—			(185	)		185			46						—			—			—		139			0.10
Initial impacts from enacted tax law changes		—			—			—			—			(6	)					—			—			—		6			—
Gain on equity method investment transactions		—			—			—			—			(108	)					452			—			—		(344	)		(0.24	)
Equity method investee items		—			—			—			—			—						—			(15	)		—		15			0.01
Rounding		1			—			—			1			—						—			—			—		1			—

Adjusted (Non-GAAP)	$	1,188		$	(35	)	$	84		$	1,139		$	283			24.8	%	$	—		$	(112	)	$	3	$	965		$	0.67
Net earnings from divestitures - KDP		—			—			—			—			(2	)					—			9			—		(7	)		—
Change in equity method investee items		—			—			—			—			—						—			—			—		—			—

Adjusted (Non-GAAP) - As Recast	$	1,188		$	(35	)	$	84		$	1,139		$	281			24.7	%	$	—		$	(103	)	$	3	$	958		$	0.67

Currency																												(26	)		(0.02	)

Adjusted @ Constant FX (Non-GAAP) - As Recast																											$	932		$	0.65

Diluted Average Shares Outstanding																															1,439

	For the Three Months Ended December 31, 2019
	Operating Income			Benefit plan non- service expense / (income)			Interest and other expense, net			Earnings before income taxes			Income taxes ⁽¹⁾			Effective tax rate			Gain on equity method investment transactions			Equity method investment net losses / (earnings)			Non- controlling interest earnings		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP)	$	906		$	(18	)	$	70		$	854		$	230			26.9	%	$	—		$	(112	)	$	3	$	733		$	0.50
Simplify to Grow Program		138			—			—			138			36						—			—			—		102			0.07
Mark-to-market (gains)/losses from derivatives		(22	)		—			1			(23	)		(5	)					—			—			—		(18	)		(0.01	)
Acquisition-related costs		1			—			—			1			—						—			—			—		1			—
Net earnings from divestitures		—			—			—			—			(4	)					—			23			—		(19	)		(0.01	)
Remeasurement of net monetary position		(6	)		—			—			(6	)		—						—			—			—		(6	)		—
Impact from pension participation changes		—			—			(3	)		3			1						—			—			—		2			—
Impact from resolution of tax matters		85			—			—			85			21						—			—			—		64			0.04
Initial impacts from enacted tax law changes		—			—			—			—			(1	)					—			—			—		1			—
Equity method investee items		—			—			—			—			1						—			(11	)		—		10			0.01
Rounding		(1	)		—			—			(1	)		—						—			—			—		(1	)		—

Adjusted (Non-GAAP)	$	1,101		$	(18	)	$	68		$	1,051		$	279			26.5	%	$	—		$	(100	)	$	3	$	869		$	0.60
Net earnings from divestitures - KDP		—			—			—			—			(1	)					—			6			—		(5	)		(0.01	)
Change in equity method investee items		—			—			—			—			—						—			2			—		(2	)		—

Adjusted (Non-GAAP) - As Recast	$	1,101		$	(18	)	$	68		$	1,051		$	278			26.5	%	$	—		$	(92	)	$	3	$	862		$	0.59

Diluted Average Shares Outstanding																															1,453

⁽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 1.f

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, 2020
	Operating Income			Benefit plan non- service expense / (income)			Interest and other expense, net			Earnings before income taxes			Income taxes ⁽¹⁾			Effective tax rate			Gain on equity method investment transactions			Equity method investment net losses / (earnings)			Non- controlling interest earnings		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP)	$	1,135		$	(38	)	$	89		$	1,084		$	391			36.1	%	$	(345	)	$	(84	)	$	3	$	1,119		$	0.78
Simplify to Grow Program		114			—			—			114			22						—			—			—		92			0.06
Intangible asset impairment charges		54			—			—			54			12						—			—			—		42			0.03
Mark-to-market (gains)/losses from derivatives		(145	)		—			3			(148	)		(27	)					—			—			—		(121	)		(0.08	)
Acquisition-related costs		—			—			—			—			(3	)					—			—			—		3			—
Divestiture-related costs		6			—			—			6			—						—			—			—		6			—
Net earnings from divestitures		—			—			—			—			(6	)					—			17			—		(11	)		(0.01	)
Remeasurement of net monetary position		2			—			—			2			—						—			—			—		2			—
Impact from pension participation changes		—			—			(3	)		3			1						—			—			—		2			—
Initial impacts from enacted tax law changes		—			—			—			—			(30	)					—			—			—		30			0.02
Gain on equity method investment transactions		—			—			—			—			(77	)					345			—			—		(268	)		(0.19	)
Equity method investee items		—			—			—			—			2						—			(37	)		—		35			0.03
Rounding		(1	)		—			—			(1	)		—						—			—			—		(1	)		—

Adjusted (Non-GAAP)	$	1,165		$	(38	)	$	89		$	1,114		$	285			25.6	%	$	—		$	(104	)	$	3	$	930		$	0.64
Net earnings from divestitures - KDP		—			—			—			—			(2	)					—			7			—		(5	)		—
Change in equity method investee items		—			—			—			—			(1	)					—			2			—		(1	)		—

Adjusted (Non-GAAP) - As Recast	$	1,165		$	(38	)	$	89		$	1,114		$	282			25.3	%	$	—		$	(95	)	$	3	$	924		$	0.64

Currency																												4			—

Adjusted @ Constant FX (Non-GAAP) - As Recast																											$	928		$	0.64

Diluted Average Shares Outstanding																															1,442

	For the Three Months Ended September 30, 2019
	Operating Income			Benefit plan non- service expense / (income)			Interest and other expense, net			Earnings before income taxes			Income taxes ⁽¹⁾			Effective tax rate			Gain on equity method investment transactions			Equity method investment net losses / (earnings)			Non- controlling interest earnings		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP)	$	876		$	(13	)	$	205		$	684		$	(633	)		(92.5	)%	$	—		$	(114	)	$	5	$	1,426		$	0.98
Simplify to Grow Program		151			(1	)		—			152			29						—			—			—		123			0.08
Intangible asset impairment charges		57			—			—			57			14						—			—			—		43			0.03
Mark-to-market (gains)/losses from derivatives		(20	)		—			(2	)		(18	)		(8	)					—			—			—		(10	)		(0.01	)
Acquisition-related costs		1			—			—			1			1						—			—			—		—			—
Divestiture-related costs		(4	)		—			—			(4	)		(1	)					—			—			—		(3	)		—
Net earnings from divestitures		—			—			—			—			(4	)					—			23			—		(19	)		(0.01	)
Gain on divestitures		(3	)		—			—			(3	)		1						—			—			—		(4	)		—
Remeasurement of net monetary position		1			—			—			1			—						—			—			—		1			—
Impact from pension participation changes		—			—			(3	)		3			—						—			—			—		3			—
CEO transition remuneration		3			—			—			3			—						—			—			—		3			—
Loss related to interest rate swaps		—			—			(111	)		111			—						—			—			—		111			0.08
Initial impacts from enacted tax law changes		2			—			—			2			766						—			—			—		(764	)		(0.53	)
Equity method investee items		—			—			—			—			1						—			(7	)		—		6			0.01
Rounding		1			—			—			1			—						—			—			—		1			—

Adjusted (Non-GAAP)	$	1,065		$	(14	)	$	89		$	990		$	166			16.8	%	$	—		$	(98	)	$	5	$	917		$	0.63
Net earnings from divestitures - KDP		—			—			—			—			(1	)					—			6			—		(5	)		(0.01	)
Change in equity method investee items		—			—			—			—			(1	)					—			2			—		(1	)		—

Adjusted (Non-GAAP) - As Recast	$	1,065		$	(14	)	$	89		$	990		$	164			16.6	%	$	—		$	(90	)	$	5	$	911		$	0.62

Diluted Average Shares Outstanding																															1,458

⁽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 1.g

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, 2020
	Operating Income			Benefit plan non- service expense / (income)			Interest and other expense, net			Earnings before income taxes			Income taxes ⁽¹⁾			Effective tax rate			Gain on equity method investment transactions			Equity method investment net losses / (earnings)			Non- controlling interest earnings		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP)	$	713		$	(31	)	$	85		$	659		$	341			51.7	%	$	(121	)	$	(106	)	$	1	$	544		$	0.38
Simplify to Grow Program		76			(4	)		—			80			20						—			—			—		60			0.04
Intangible asset impairment charges		90			—			—			90			21						—			—			—		69			0.05
Mark-to-market (gains)/losses from derivatives		2			—			—			2			—						—			—			—		2			—
Acquisition integration costs		2			—			—			2			—						—			—			—		2			—
Acquisition-related costs		10			—			—			10			2						—			—			—		8			0.01
Divestiture-related costs		(2	)		—			—			(2	)		—						—			—			—		(2	)		—
Net earnings from divestitures		—			—			—			—			(1	)					—			16			—		(15	)		(0.01	)
Costs associated with JDE Peet’s transaction		48			—			—			48			(261	)					—			—			—		309			0.21
Remeasurement of net monetary position		3			—			—			3			—						—			—			—		3			—
Impact from pension participation changes		—			—			(3	)		3			—						—			—			—		3			—
Gain on equity method investment transactions		—			—			—			—			—						121			—			—		(121	)		(0.08	)
Equity method investee items		—			—			—			—			4						—			(23	)		—		19			0.01

Adjusted (Non-GAAP)	$	942		$	(35	)	$	82		$	895		$	126			14.1	%	$	—		$	(113	)	$	1	$	881		$	0.61
Net earnings from divestitures - KDP		—			—			—			—			(1	)					—			4			—		(3	)		—
Change in equity method investee items		—			—			—			—			—						—			4			—		(4	)		—

Adjusted (Non-GAAP) - As Recast	$	942		$	(35	)	$	82		$	895		$	125			14.0	%	$	—		$	(105	)	$	1	$	874		$	0.61

Currency																												26			0.02

Adjusted @ Constant FX (Non-GAAP) - As Recast																											$	900		$	0.63

Diluted Average Shares Outstanding																															1,439

	For the Three Months Ended June 30, 2019
	Operating Income			Benefit plan non- service expense / (income)			Interest and other expense, net			Earnings before income taxes			Income taxes ⁽¹⁾			Effective tax rate			Loss on equity method investment transactions			Equity method investment net losses / (earnings)			Non- controlling interest earnings		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP)	$	1,025		$	(12	)	$	101		$	936		$	216			23.1	%	$	25		$	(109	)	$	1	$	803		$	0.55
Simplify to Grow Program		83			(5	)		—			88			19						—			—			—		69			0.05
Mark-to-market (gains)/losses from derivatives		(33	)		—			—			(33	)		(3	)					—			—			—		(30	)		(0.02	)
Acquisition-related costs		1			—			—			1			—						—			—			—		1			—
Divestiture-related costs		11			—			—			11			1						—			—			—		10			0.01
Net earnings from divestitures		(5	)		—			—			(5	)		(4	)					—			21			—		(22	)		(0.02	)
Gain on divestitures		(41	)		—			—			(41	)		(3	)					—			—			—		(38	)		(0.03	)
Remeasurement of net monetary position		(1	)		—			—			(1	)		—						—			—			—		(1	)		—
Impact from pension participation changes		(35	)		—			—			(35	)		(9	)					—			—			—		(26	)		(0.02	)
CEO transition remuneration		3			—			—			3			—						—			—			—		3			—
Initial impacts from enacted tax law changes		—			—			—			—			(10	)					—			—			—		10			0.01
Loss on equity method investment transactions		—			—			—			—			(2	)					(25	)		—			—		27			0.02
Equity method investee items		—			—			—			—			1						—			(7	)		—		6			0.01

Adjusted (Non-GAAP)	$	1,008		$	(17	)	$	101		$	924		$	206			22.3	%	$	—		$	(95	)	$	1	$	812		$	0.56
Net earnings from divestitures - KDP		—			—			—			—			(2	)					—			6			—		(4	)		—
Change in equity method investee items		—			—			—			—			(1	)					—			2			—		(1	)		(0.01	)

Adjusted (Non-GAAP) - As Recast	$	1,008		$	(17	)	$	101		$	924		$	203			22.0	%	$	—		$	(87	)	$	1	$	807		$	0.55

Diluted Average Shares Outstanding																															1,458

(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 1.h

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Net Earnings and Tax Rate

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

(Unaudited)


	For the Three Months Ended March 31, 2020
	Operating Income			Benefit plan non- service expense / (income)			Interest and other expense, net			Earnings before income taxes			Income taxes ⁽¹⁾			Effective tax rate			Gain on equity method investment transactions			Equity method investment net losses / (earnings)			Non- controlling interest earnings		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP)	$	856		$	(33	)	$	190		$	699		$	148			21.2	%	$	(71	)	$	(121	)	$	7	$	736		$	0.51
Simplify to Grow Program		58			—			—			58			13						—			—			—		45			0.03
Mark-to-market (gains)/losses from derivatives		185			—			1			184			32						—			—			—		152			0.11
Acquisition-related costs		5			—			—			5			1						—			—			—		4			—
Net earnings from divestitures		—			—			—			—			(5	)					—			28			—		(23	)		(0.01	)
Remeasurement of net monetary position		2			—			—			2			—						—			—			—		2			—
Impact from pension participation changes		—			—			(3	)		3			1						—			—			—		2			—
Loss related to interest rate swaps		—			—			(103	)		103			24						—			—			—		79			0.05
Gain on equity method investment transactions		—			—			—			—			(17	)					71			—			—		(54	)		(0.04	)
Equity method investee items		—			—			—			—			1						—			(16	)		—		15			0.01

Adjusted (Non-GAAP)	$	1,106		$	(33	)	$	85		$	1,054		$	198			18.8	%	$	—		$	(109	)	$	7	$	958		$	0.66
Net earnings from divestitures - KDP		—			—			—			—			(2	)					—			8			—		(6	)		—
Change in equity method investee items		—			—			—			—			(1	)					—			1			—		—			—

Adjusted (Non-GAAP) - As Recast	$	1,106		$	(33	)	$	85		$	1,054		$	195			18.5	%	$	—		$	(100	)	$	7	$	952		$	0.66

Currency																												43			0.03

Adjusted @ Constant FX (Non-GAAP) - As Recast																											$	995		$	0.69

Diluted Average Shares Outstanding																															1,445

	For the Three Months Ended March 31, 2019
	Operating Income			Benefit plan non- service expense / (income)			Interest and other expense, net			Earnings before income taxes			Income taxes ⁽¹⁾			Effective tax rate			Gain on equity method investment transactions			Equity method investment net losses / (earnings)			Non- controlling interest earnings		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP)	$	1,036		$	(17	)	$	80		$	973		$	189			19.4	%	$	(23	)	$	(166	)	$	6	$	967		$	0.66
Simplify to Grow Program		70			—			—			70			19						—			—			—		51			0.04
Mark-to-market (gains)/losses from derivatives		(16	)		—			—			(16	)		(3	)					—			—			—		(13	)		(0.01	)
Divestiture-related costs		(1	)		—			—			(1	)		—						—			—			—		(1	)		—
Net earnings from divestitures		(4	)		—			—			(4	)		(3	)					—			28			—		(29	)		(0.02	)
Remeasurement of net monetary position		2			—			—			2			—						—			—			—		2			—
CEO transition remuneration		3			—			—			3			—						—			—			—		3			—
Initial impacts from enacted tax law changes		—			—			—			—			(1	)					—			—			—		1			—
Gain on equity method investment transactions		—			—			—			—			(5	)					23			—			—		(18	)		(0.01	)
Equity method investee items		—			—			—			—			3						—			30			—		(33	)		(0.02	)

Adjusted (Non-GAAP)	$	1,090		$	(17	)	$	80		$	1,027		$	199			19.4	%	$	—		$	(108	)	$	6	$	930		$	0.64
Net earnings from divestitures - KDP		—			—			—			—			(1	)					—			5			—		(4	)		—
Change in equity method investee items		—			—			—			—			—						—			2			—		(2	)		(0.01	)

Adjusted (Non-GAAP) - As Recast	$	1,090		$	(17	)	$	80		$	1,027		$	198			19.3	%	$	—		$	(101	)	$	6	$	924		$	0.63

Diluted Average Shares Outstanding																															1,461

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

Schedule 1.i

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Net Earnings and Tax Rate

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

(Unaudited)


	For the Twelve Months Ended December 31, 2019
	Operating Income			Benefit plan non- service expense / (income)			Interest and other expense, net			Earnings before income taxes			Income taxes ⁽¹⁾			Effective tax rate			Loss on equity method investment transactions			Equity method investment net losses / (earnings)			Non- controlling interest earnings		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP)	$	3,843		$	(60	)	$	456		$	3,447		$	2			0.1	%	$	2		$	(501	)	$	15	$	3,929		$	2.69
Simplify to Grow Program		442			(6	)		—			448			103						—			—			—		345			0.24
Intangible asset impairment charges		57			—			—			57			14						—			—			—		43			0.03
Mark-to-market (gains)/losses from derivatives		(91	)		—			(1	)		(90	)		(19	)					—			—			—		(71	)		(0.05	)
Acquisition-related costs		3			—			—			3			1						—			—			—		2			—
Divestiture-related costs		6			—			—			6			—						—			—			—		6			—
Net earnings from divestitures		(9	)		—			—			(9	)		(15	)					—			95			—		(89	)		(0.06	)
Gain on divestitures		(44	)		—			—			(44	)		(3	)					—			—			—		(41	)		(0.03	)
Remeasurement of net monetary position		(4	)		—			—			(4	)		—						—			—			—		(4	)		—
Impact from pension participation changes		(35	)		—			(6	)		(29	)		(8	)					—			—			—		(21	)		(0.02	)
Impact from resolution of tax matters		85			—			—			85			21						—			—			—		64			0.05
CEO transition remuneration		9			—			—			9			—						—			—			—		9			0.01
Loss related to interest rate swaps		—			—			(111	)		111			—						—			—			—		111			0.08
Initial impacts from enacted tax law changes		2			—			—			2			754						—			—			—		(752	)		(0.52	)
Loss on equity method investment transactions		—			—			—			—			(6	)					(2	)		—			—		8			0.01
Equity method investee items		—			—			—			—			6						—			5			—		(11	)		(0.01	)

Adjusted (Non-GAAP)	$	4,264		$	(66	)	$	338		$	3,992		$	850			21.3	%	$	—		$	(401	)	$	15	$	3,528		$	2.42
Net earnings from divestitures - KDP		—			—			—			—			(5	)					—			23			—		(18	)		(0.02	)
Change in equity method investee items		—			—			—			—			(2	)					—			8			—		(6	)		—

Adjusted (Non-GAAP) - As Recast	$	4,264		$	(66	)	$	338		$	3,992		$	843			21.1	%	$	—		$	(370	)	$	15	$	3,504		$	2.40

Currency																												217			0.15

Adjusted @ Constant FX (Non-GAAP) - As Recast																											$	3,721		$	2.55

Diluted Average Shares Outstanding																															1,458

	For the Twelve Months Ended December 31, 2018
	Operating Income			Benefit plan non- service expense / (income)			Interest and other expense, net			Earnings before income taxes			Income taxes ⁽¹⁾			Effective tax rate			Gain on equity method investment transactions			Equity method investment net losses / (earnings)			Non- controlling interest earnings		Net Earnings attributable to Mondelēz International			Diluted EPS attributable to Mondelēz International
Reported (GAAP)	$	3,312		$	(50	)	$	520		$	2,842		$	773			27.2	%	$	(778	)	$	(484	)	$	14	$	3,317		$	2.23
Simplify to Grow Program		626			(5	)		—			631			156						—			—			—		475			0.32
Intangible asset impairment charges		68			—			—			68			16						—			—			—		52			0.03
Mark-to-market (gains)/losses from derivatives		(141	)		—			1			(142	)		(10	)					—			—			—		(132	)		(0.09	)
Acquisition integration costs		3			—			—			3			—						—			—			—		3			—
Acquisition-related costs		13			—			—			13			3						—			—			—		10			0.01
Divestiture-related costs		(1	)		—			—			(1	)		(2	)					—			—			—		1			—
Net earnings from divestitures		(19	)		—			—			(19	)		(19	)					—			103			—		(103	)		(0.07	)
Remeasurement of net monetary position		11			—			—			11			—						—			—			—		11			0.01
Impact from pension participation changes		423			—			(6	)		429			108						—			—			—		321			0.22
Impact from resolution of tax matters		(15	)		—			(4	)		(11	)		6						—			—			—		(17	)		(0.01	)
CEO transition remuneration		22			—			—			22			5						—			—			—		17			0.01
Gain related to interest rate swaps		—			—			10			(10	)		(2	)					—			—			—		(8	)		(0.01	)
Loss on debt extinguishment and related expenses		—			—			(140	)		140			35						—			—			—		105			0.07
Initial impacts from enacted tax law changes		—			—			—			—			(33	)					—			—			—		33			0.02
Gain on equity method investment transactions		—			—			—			—			(192	)					778			—			—		(586	)		(0.39	)
Equity method investee items		—			—			—			—			(10	)					—			11			—		(1	)		—

Adjusted (Non-GAAP)	$	4,302		$	(55	)	$	381		$	3,976		$	834			21.0	%	$	—		$	(370	)	$	14	$	3,498		$	2.35
Net earnings from divestitures - KDP		—			—			—			—			(7	)					—			31			—		(24	)		(0.01	)
Change in equity method investee items		—			—			—			—			3						—			(10	)		—		7			—

Adjusted (Non-GAAP) - As Recast	$	4,302		$	(55	)	$	381		$	3,976		$	830			20.9	%	$	—		$	(349	)	$	14	$	3,481		$	2.34

Diluted Average Shares Outstanding																															1,486

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

Schedule 2.a

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Diluted EPS

(Unaudited)


	For the Six Months Ended June 30,
	2021			2020			$ Change			% Change
Diluted EPS attributable to Mondelēz International (GAAP)	$	1.44		$	0.89		$	0.55			61.8	%
Simplify to Grow Program		0.13			0.07			0.06
Intangible asset impairment charges		0.02			0.05			(0.03	)
Mark-to-market (gains)/losses from derivatives		(0.08	)		0.11			(0.19	)
Acquisition-related costs		0.01			0.01			—
Net earnings from divestitures		—			(0.02	)		0.02
Costs associated with JDE Peet’s transaction		—			0.21			(0.21	)
Impact from pension participation changes		0.02			—			0.02
Loss related to interest rate swaps		—			0.06			(0.06	)
Loss on debt extinguishment and related expenses		0.07			—			0.07
Initial impacts from enacted tax law changes		0.07			—			0.07
Gain on equity method investment transactions		(0.26	)		(0.12	)		(0.14	)
Equity method investee items		0.04			0.02			0.02

Adjusted EPS (Non-GAAP)	$	1.46		$	1.28		$	0.18			14.1	%
Net earnings from divestitures - KDP		(0.01	)		(0.01	)		—
Change in equity method investee items		—			—			—

Adjusted EPS (Non-GAAP) - As Recast	$	1.45		$	1.27		$	0.18			14.2	%
Impact of favorable currency		(0.07	)		—			(0.07	)

Adjusted EPS @ Constant FX (Non-GAAP) - As Recast	$	1.38		$	1.27		$	0.11			8.7	%

Schedule 2.b

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Diluted EPS

(Unaudited)


	For the Three Months Ended June 30,
	2021			2020			$ Change			% Change
Diluted EPS attributable to Mondelēz International (GAAP)	$	0.76		$	0.38		$	0.38			100.0	%
Simplify to Grow Program		0.07			0.04			0.03
Intangible asset impairment charges		0.02			0.05			(0.03	)
Mark-to-market (gains)/losses from derivatives		(0.02	)		—			(0.02	)
Acquisition-related costs		0.01			0.01			—
Net earnings from divestitures		—			(0.01	)		0.01
Costs associated with JDE Peet’s transaction		—			0.21			(0.21	)
Impact from pension participation changes		0.02			—			0.02
Initial impacts from enacted tax law changes		0.07			—			0.07
Gain on equity method investment transactions		(0.27	)		(0.08	)		(0.19	)
Equity method investee items		—			0.01			(0.01	)

Adjusted EPS (Non-GAAP)	$	0.66		$	0.61		$	0.05			8.2	%
Net earnings from divestitures - KDP		—			—			—
Change in equity method investee items		—			—			—

Adjusted EPS (Non-GAAP) - As Recast	$	0.66		$	0.61		$	0.05			8.2	%
Impact of favorable currency		(0.04	)		—			(0.04	)

Adjusted EPS @ Constant FX (Non-GAAP) - As Recast	$	0.62		$	0.61		$	0.01			1.6	%

Schedule 2.c

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Diluted EPS

(Unaudited)


	For the Three Months Ended March 31,
	2021			2020			$ Change			% Change
Diluted EPS attributable to Mondelēz International (GAAP)	$	0.68		$	0.51		$	0.17			33.3	%
Simplify to Grow Program		0.07			0.03			0.04
Mark-to-market (gains)/losses from derivatives		(0.07	)		0.11			(0.18	)
Acquisition-related costs		0.01			—			0.01
Net earnings from divestitures		—			(0.01	)		0.01
Loss related to interest rate swaps		—			0.05			(0.05	)
Loss on debt extinguishment and related expenses		0.07			—			0.07
Gain on equity method investment transactions		—			(0.04	)		0.04
Equity method investee items		0.04			0.01			0.03

Adjusted EPS (Non-GAAP)	$	0.80		$	0.66		$	0.14			21.2	%
Net earnings from divestitures - KDP		(0.01	)		—			(0.01	)
Change in equity method investee items		—			—			—

Adjusted EPS (Non-GAAP) - As Recast	$	0.79		$	0.66		$	0.13			19.7	%
Impact of favorable currency		(0.03	)		—			(0.03	)

Adjusted EPS @ Constant FX (Non-GAAP) - As Recast	$	0.76		$	0.66		$	0.10			15.2	%

Schedule 2.d

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Diluted EPS

(Unaudited)


	For the Twelve Months Ended December 31,
	2020			2019			$ Change			% Change
Diluted EPS attributable to Mondelēz International (GAAP)	$	2.47		$	2.69		$	(0.22	)		(8.2	)%
Simplify to Grow Program		0.20			0.24			(0.04	)
Intangible asset impairment charges		0.08			0.03			0.05
Mark-to-market (gains)/losses from derivatives		(0.01	)		(0.05	)		0.04
Acquisition-related costs		0.01			—			0.01
Net earnings from divestitures		(0.04	)		(0.06	)		0.02
Gain on divestitures		—			(0.03	)		0.03
Costs associated with JDE Peet’s transaction		0.20			—			0.20
Remeasurement of net monetary position		0.01			—			0.01
Impact from pension participation changes		0.01			(0.02	)		0.03
Impact from resolution of tax matters		(0.02	)		0.05			(0.07	)
CEO transition remuneration		—			0.01			(0.01	)
Loss related to interest rate swaps		0.05			0.08			(0.03	)
Loss on debt extinguishment and related expenses		0.10			—			0.10
Initial impacts from enacted tax law changes		0.02			(0.52	)		0.54
(Gain)/loss on equity method investment transactions		(0.55	)		0.01			(0.56	)
Equity method investee items		0.06			(0.01	)		0.07

Adjusted EPS (Non-GAAP)	$	2.59		$	2.42		$	0.17			7.0	%
Net earnings from divestitures - KDP		(0.02	)		(0.02	)		—
Change in equity method investee items		—			—			—

Adjusted EPS (Non-GAAP) - As Recast	$	2.57		$	2.40		$	0.17			7.1	%
Impact of unfavorable currency		0.04			—			0.04

Adjusted EPS @ Constant FX (Non-GAAP) - As Recast	$	2.61		$	2.40		$	0.21			8.8	%

Schedule 2.e

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Diluted EPS

(Unaudited)


	For the Three Months Ended December 31,
	2020			2019			$ Change			% Change
Diluted EPS attributable to Mondelēz International (GAAP)	$	0.80		$	0.50		$	0.30			60.0	%
Simplify to Grow Program		0.06			0.07			(0.01	)
Mark-to-market (gains)/losses from derivatives		(0.03	)		(0.01	)		(0.02	)
Net earnings from divestitures		—			(0.01	)		0.01
Costs associated with JDE Peet’s transaction		(0.01	)		—			(0.01	)
Impact from resolution of tax matters		(0.02	)		0.04			(0.06	)
Loss on debt extinguishment and related expenses		0.10			—			0.10
Gain on equity method investment transactions		(0.24	)		—			(0.24	)
Equity method investee items		0.01			0.01			—

Adjusted EPS (Non-GAAP)	$	0.67		$	0.60		$	0.07			11.7	%
Net earnings from divestitures - KDP		—			(0.01	)		0.01
Change in equity method investee items		—			—			—

Adjusted EPS (Non-GAAP) - As Recast	$	0.67		$	0.59		$	0.08			13.6	%
Impact of favorable currency		(0.02	)		—			(0.02	)

Adjusted EPS @ Constant FX (Non-GAAP) - As Recast	$	0.65		$	0.59		$	0.06			10.2	%

Schedule 2.f

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Diluted EPS

(Unaudited)


	For the Three Months Ended September 30,
	2020			2019			$ Change			% Change
Diluted EPS attributable to Mondelēz International (GAAP)	$	0.78		$	0.98		$	(0.20	)		(20.4	)%
Simplify to Grow Program		0.06			0.08			(0.02	)
Intangible asset impairment charges		0.03			0.03			—
Mark-to-market (gains)/losses from derivatives		(0.08	)		(0.01	)		(0.07	)
Net earnings from divestitures		(0.01	)		(0.01	)		—
Loss related to interest rate swaps		—			0.08			(0.08	)
Initial impacts from enacted tax law changes		0.02			(0.53	)		0.55
Gain on equity method investment transactions		(0.19	)		—			(0.19	)
Equity method investee items		0.03			0.01			0.02

Adjusted EPS (Non-GAAP)	$	0.64		$	0.63		$	0.01			1.6	%
Net earnings from divestitures - KDP		—			(0.01	)		0.01
Change in equity method investee items		—			—			—

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

Adjusted EPS @ Constant FX (Non-GAAP) - As Recast	$	0.64		$	0.62		$	0.02			3.2	%


		Schedule 2.g

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Diluted EPS

(Unaudited)


	For the Three Months Ended June 30,
	2020			2019			$ Change			% Change
Diluted EPS attributable to Mondelēz International (GAAP)	$	0.38		$	0.55		$	(0.17	)		(30.9	)%
Simplify to Grow Program		0.04			0.05			(0.01	)
Intangible asset impairment charges		0.05			—			0.05
Mark-to-market (gains)/losses from derivatives		—			(0.02	)		0.02
Acquisition-related costs		0.01			—			0.01
Divestiture-related costs		—			0.01			(0.01	)
Net earnings from divestitures		(0.01	)		(0.02	)		0.01
Gain on divestitures		—			(0.03	)		0.03
Costs associated with JDE Peet’s transaction		0.21			—			0.21
Impact from pension participation changes		—			(0.02	)		0.02
Initial impacts from enacted tax law changes		—			0.01			(0.01	)
(Gain)/loss on equity method investment transactions		(0.08	)		0.02			(0.10	)
Equity method investee items		0.01			0.01			—

Adjusted EPS (Non-GAAP)	$	0.61		$	0.56		$	0.05			8.9	%
Net earnings from divestitures - KDP		—			—			—
Change in equity method investee items		—			(0.01	)		0.01

Adjusted EPS (Non-GAAP) - As Recast	$	0.61		$	0.55		$	0.06			10.9	%
Impact of unfavorable currency		0.02			—			0.02

Adjusted EPS @ Constant FX (Non-GAAP) - As Recast	$	0.63		$	0.55		$	0.08			14.5	%

Schedule 2.h

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Diluted EPS

(Unaudited)


	For the Three Months Ended March 31,
	2020			2019			$ Change			% Change
Diluted EPS attributable to Mondelēz International (GAAP)	$	0.51		$	0.66		$	(0.15	)		(22.7	)%
Simplify to Grow Program		0.03			0.04			(0.01	)
Mark-to-market (gains)/losses from derivatives		0.11			(0.01	)		0.12
Net earnings from divestitures		(0.01	)		(0.02	)		0.01
Loss related to interest rate swaps		0.05			—			0.05
Gain on equity method investment transactions		(0.04	)		(0.01	)		(0.03	)
Equity method investee items		0.01			(0.02	)		0.03

Adjusted EPS (Non-GAAP)	$	0.66		$	0.64		$	0.02			3.1	%
Net earnings from divestitures - KDP		—			—			—
Change in equity method investee items		—			(0.01	)		0.01

Adjusted EPS (Non-GAAP) - As Recast	$	0.66		$	0.63		$	0.03			4.8	%
Impact of unfavorable currency		0.03			—			0.03

Adjusted EPS @ Constant FX (Non-GAAP) - As Recast	$	0.69		$	0.63		$	0.06			9.5	%

Schedule 2.i

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Diluted EPS

(Unaudited)


	For the Twelve Months Ended December 31,
	2019			2018			$ Change			% Change
Diluted EPS attributable to Mondelēz International (GAAP)	$	2.69		$	2.23		$	0.46			20.6	%
Simplify to Grow Program		0.24			0.32			(0.08	)
Intangible asset impairment charges		0.03			0.03			—
Mark-to-market (gains)/losses from derivatives		(0.05	)		(0.09	)		0.04
Acquisition-related costs		—			0.01			(0.01	)
Net earnings from divestitures		(0.06	)		(0.07	)		0.01
Gain on divestitures		(0.03	)		—			(0.03	)
Remeasurement of net monetary position		—			0.01			(0.01	)
Impact from pension participation changes		(0.02	)		0.22			(0.24	)
Impact from resolution of tax matters		0.05			(0.01	)		0.06
CEO transition remuneration		0.01			0.01			—
(Gain)/loss related to interest rate swaps		0.08			(0.01	)		0.09
Loss on debt extinguishment and related expenses		—			0.07			(0.07	)
Initial impacts from enacted tax law changes		(0.52	)		0.02			(0.54	)
(Gain)/loss on equity method investment transactions		0.01			(0.39	)		0.40
Equity method investee items		(0.01	)		—			(0.01	)

Adjusted EPS (Non-GAAP)	$	2.42		$	2.35		$	0.07			3.0	%
Net earnings from divestitures - KDP		(0.02	)		(0.01	)		(0.01	)
Change in equity method investee items		—			—			—

Adjusted EPS (Non-GAAP) - As Recast	$	2.40		$	2.34		$	0.06			2.6	%
Impact of unfavorable currency		0.15			—			0.15

Adjusted EPS @ Constant FX (Non-GAAP) - As Recast	$	2.55		$	2.34		$	0.21			9.0	%