Net actuarial gain / (loss) arising during period

(37)

Pension and other benefits:

Reclassification of (gains) / losses into net earnings:

Amortization of experience losses and prior service costs

^[1]

Settlement losses

^[1]

Derivatives accounted for as hedges:

(13)

(17)

Net derivative gains / (losses)

(56)

Reclassification of (gains) / losses into net earnings

(2)

Total other comprehensive earnings / (losses)

(16)

(228)

(726)

Comprehensive earnings / (losses)

(78)

(184)

less: Comprehensive earnings / (losses) attributable to noncontrolling interests

(14)

(1)

Comprehensive earnings / (losses) attributable to Mondelez International

$ (64)

$ (183)

[1]	These items are included in the components of net periodic benefit costs disclosed in Note 10, Benefit Plans.

Condensed Consolidated Balance Sheets (USD $) In Millions, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
ASSETS
Cash and cash equivalents	$ 2,422	$ 2,664
Receivables (net of allowances of $74 in 2014 and $86 in 2013)	5,900	5,403
Inventories, net	4,027	3,743
Deferred income taxes	517	517
Other current assets	836	889
Total current assets	13,702	13,216
Property, plant and equipment, net	10,242	10,247
Goodwill	25,408	25,597
Intangible assets, net	21,992	21,994
Prepaid pension assets	55	54
Other assets	1,561	1,449
TOTAL ASSETS	72,960	72,557
LIABILITIES
Short-term borrowings	2,503	1,636
Current portion of long-term debt	1,674	1,003
Accounts payable	5,372	5,345
Accrued marketing	2,274	2,318
Accrued employment costs	917	1,043
Other current liabilities	2,585	3,051
Total current liabilities	15,325	14,396
Long-term debt	14,772	14,482
Deferred income taxes	6,202	6,282
Accrued pension costs	1,862	1,962
Accrued postretirement health care costs	416	412
Other liabilities	2,607	2,491
TOTAL LIABILITIES	41,184	40,025
Commitments and Contingencies (Note 12)
EQUITY
Common Stock, no par value (1,996,537,778 shares issued in 2014 and 2013)
Additional paid-in capital	31,342	31,396
Retained earnings	13,315	13,419
Accumulated other comprehensive losses	(3,116)	(2,889)
Treasury stock, at cost (300,802,103 shares at March 31, 2014 and 291,141,184 shares at December 31, 2013)	(9,892)	(9,553)
Total Mondelez International Shareholders' Equity	31,649	32,373
Noncontrolling interest	127	159
TOTAL EQUITY	31,776	32,532
TOTAL LIABILITIES AND EQUITY	$ 72,960	$ 72,557

Condensed Consolidated Balance Sheets (Parenthetical) (USD $) In Millions, except Share data, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Receivables, allowances	$ 74	$ 86
Common Stock, no par value
Common Stock, shares issued	1,996,537,778	1,996,537,778
Treasury stock, shares	300,802,103	291,141,184

Condensed Consolidated Statements of Equity (USD $) In Millions, unless otherwise specified	Total	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Earnings/(Losses)	Treasury Stock	Noncontrolling Interest
Balances at Dec. 31, 2012	$ 32,416	$ 31,548	$ 10,551	$ (2,666)	$ (7,157)	$ 140
Comprehensive earnings / (losses):
Net earnings	3,935		3,915			20
Other comprehensive losses, net of income taxes	(223)			(223)
Exercise of stock options and issuance of other stock awards	256	10	(97)		343
Common Stock repurchased	(2,900)	(161)			(2,739)
Cash dividends declared ($0.14 per share for 2014 and $0.54 per share for 2013)	(950)		(950)
Dividends paid on noncontrolling interest and other activities	(2)	(1)				(1)
Balances at Dec. 31, 2013	32,532	31,396	13,419	(2,889)	(9,553)	159
Comprehensive earnings / (losses):
Net earnings	150		163			(13)
Other comprehensive losses, net of income taxes	(228)			(227)		(1)
Exercise of stock options and issuance of other stock awards	70	(54)	(29)		153
Common Stock repurchased	(492)				(492)
Cash dividends declared ($0.14 per share for 2014 and $0.54 per share for 2013)	(238)		(238)
Dividends paid on noncontrolling interest and other activities	(18)					(18)
Balances at Mar. 31, 2014	$ 31,776	$ 31,342	$ 13,315	$ (3,116)	$ (9,892)	$ 127

Condensed Consolidated Statements of Cash Flows (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
CASH PROVIDED BY / (USED IN) OPERATING ACTIVITIES
Net earnings	$ 150	$ 542
Adjustments to reconcile net earnings to operating cash flows:
Depreciation and amortization	262	266
Stock-based compensation expense	35	33
Deferred income tax benefit	(98)	(67)
Gain on acquisition		(22)
Asset impairments	12	14
Loss on early extinguishment of debt	492
Other non-cash items, net	48	45
Change in assets and liabilities, net of acquisition:
Receivables, net	(305)	(315)
Inventories, net	(299)	(160)
Accounts payable	67	(246)
Other current assets	(59)	(86)
Other current liabilities	(815)	(371)
Change in pension and postretirement assets and liabilities, net	(67)	(18)
Net cash used in operating activities	(577)	(385)
CASH PROVIDED BY / (USED IN) INVESTING ACTIVITIES
Capital expenditures	(326)	(235)
Acquisition, net of cash received		(119)
Cash received from Kraft Foods Group related to the Spin-Off		55
Other	9	1
Net cash used in investing activities	(317)	(298)
CASH PROVIDED BY / (USED IN) FINANCING ACTIVITIES
Issuances of commercial paper, maturities greater than 90 days	1,607
Repayments of commercial paper, maturities greater than 90 days	(723)
Net (repayments) / issuances of other short-term borrowings, net	(19)	(66)
Long-term debt proceeds	2,994	6
Long-term debt repaid	(2,514)	(752)
Repurchase of Common Stock	(468)
Dividends paid	(238)	(232)
Other	40	51
Net cash provided by / (used in) financing activities	679	(993)
Effect of exchange rate changes on cash and cash equivalents	(27)	(40)
Cash and cash equivalents:
Increase / (decrease)	(242)	(1,716)
Balance at beginning of period	2,664	4,475
Balance at end of period	$ 2,422	$ 2,759

Basis of Presentation

3 Months Ended

Mar. 31, 2014

Basis of Presentation

Note 1. Basis of Presentation

The condensed consolidated financial statements include Mondelēz International, as well as our wholly owned and majority owned subsidiaries.

Our interim condensed consolidated financial statements are unaudited. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been omitted. It is management’s opinion that these financial statements include all normal and recurring adjustments necessary for a fair presentation of our financial position and operating results. Net revenues and net earnings for any interim period are not necessarily indicative of future or annual results.

The condensed consolidated balance sheet data as of December 31, 2013 was derived from audited financial statements, but do not include all disclosures required by U.S. GAAP. You should read these statements in conjunction with our consolidated financial statements and related notes in our Annual Report on Form 10-Kfor the year ended December 31, 2013.

Revision of Financial Statements:

In finalizing our 2013 results, we identified certain out-of-period, non-cash, income tax-related errors in prior interim and annual periods. These errors were not material to any previously reported financial results; however, we revised our 2013 interim and prior-year financial statements and accompanying notes in our Annual Report on Form 10-K for the year ended December 31, 2013, to reflect these items in the appropriate periods. The net effect of the revision was to lower tax expense in years prior to 2013.

We evaluated the cumulative impact of the errors on prior periods under the guidance in Accounting Standards Codification (“ASC”) 250-10, Accounting Changes and Error Corrections, and the guidance from the Securities and Exchange Commission (“SEC”) in Staff Accounting Bulletin (“SAB”) No. 99, Materiality. We also evaluated the impact of correcting the errors through an adjustment to our financial statements under the guidance in ASC 250-10 relating to SAB No. 108, Considering the Effects of Prior Year Misstatements When Quantifying Misstatements in Current Year Financial Statements. We concluded that these errors were not material, individually or in the aggregate, to any of the prior reporting periods and, therefore, amendments of previously filed reports were not required.

The effects of the revision on the condensed consolidated financial statements for the three months ended March 31, 2013 are detailed below.

Condensed Consolidated Statement of Earnings


	For the Three Months Ended March 31,
	2013
	Reported			Correction			Revised
	(in millions, except per share data)

(Benefit) / provision for income taxes	$	(19	)	$	32		$	13
Net earnings		574			(32	)		542
Net earnings attributable to Mondelēz International		568			(32	)		536
Basic earnings per share attributable to Mondelēz International	$	0.32		$	(0.02	)	$	0.30
Diluted earnings per share attributable to Mondelēz International	$	0.32		$	(0.02	)	$	0.30

Condensed Consolidated Statement of Comprehensive Earnings


	For the Three Months Ended March 31,
	2013
	Reported			Correction			Revised
	(in millions)

Net earnings	$	574		$	(32	)	$	542
Translation adjustment		(771	)		2			(769	)
Total other comprehensive losses		(728	)		2			(726	)
Comprehensive losses		(154	)		(30	)		(184	)
Comprehensive losses attributable to Mondelēz International		(153	)		(30	)		(183	)

Condensed Consolidated Statement of Cash Flows


	For the Three Months Ended March 31,
	2013
	Reported			Correction			Revised
	(in millions)

Net earnings	$	574		$	(32	)	$	542
Deferred income tax benefit		(104	)		37			(67	)
Other non-cash expense, net		44			1			45
Change in other current assets		(85	)		(1	)		(86	)
Change in other current liabilities		(366	)		(5	)		(371	)
Net cash used in operating activities		(385	)		–			(385	)

Currency Translation and Highly Inflationary Accounting:

We translate the results of operations of our subsidiaries from multiple currencies using average exchange rates during each period and translate balance sheet accounts using exchange rates at the end of each period. We record currency translation adjustments as a component of equity and realized exchange gains and losses on transactions in earnings.

Venezuela. As prescribed by U.S. GAAP for highly inflationary economies, we have been accounting for the results of our Venezuelan subsidiaries using the U.S. dollar as the functional currency since January 1, 2010.

On February 8, 2013, the Venezuelan government announced the devaluation of the official Venezuelan bolivar exchange rate from 4.30 bolivars to 6.30 bolivars to the U.S. dollar and the elimination of the second-tier, government-regulated SITME exchange rate previously applied to value certain types of transactions. In connection with the announced changes, we recorded a $54 million currency remeasurement loss related to the devaluation of our net monetary assets in Venezuela within selling, general and administrative expenses in our Latin America segment during the three months ended March 31, 2013.

On January 24, 2014, the Venezuelan government announced the expansion of the auction-based currency transaction program referred to as SICAD and new profit margin controls. The application of the SICAD rate was extended to include foreign investments and significant operating activities, including contracts for leasing and services, use and exploitation of patents and trademarks, payments of royalties and contracts for technology import and technical assistance. As of March 31, 2014, the SICAD exchange rate was 10.70 bolivars to the U.S. dollar and availability of U.S. dollars at this rate has been limited. We continue to evaluate the announced profit margin controls and other related measures and will look to protect net revenues and profitability.

Additionally, on March 24, 2014, the Venezuelan government launched a new market-based currency exchange market, SICAD II. SICAD II may be used voluntarily to exchange bolivars into U.S. dollars. As of March 31, 2014, the SICAD II exchange rate was 50.85 bolivars to the U.S. dollar. There have been few market transactions to date and we continue to evaluate the new SICAD II market.

Our Venezuelan operations produce a wide range of biscuit, cheese and grocery, confectionery and beverage products. Based on the currency exchange developments this quarter, we have reviewed our domestic and international sourcing of goods and services and the exchange rates we believe will be applicable. We evaluated the level of primarily raw material imports that we believe would continue to be sourced in exchange for U.S. dollars converted at the official 6.30 exchange rate. Our remaining imported goods and services would primarily be valued at the SICAD exchange rate (now commonly referred to as SICAD I). Imports that do not currently qualify for either the official rate or SICAD I rate may be sourced at the SICAD II rate.

We believe the SICAD I rate is the most appropriate rate to use as it is most representative of the various exchange rates at which U.S. dollars are currently available to our entire Venezuelan business. While some of our net monetary assets or liabilities qualify for settlement at the official exchange rate, other operations do not, and we have utilized both the SICAD I and SICAD II auction processes. In addition, there is significant uncertainty about our ability to secure approval for transactions and the limited availability of U.S. dollars offered at the official rate. As such, we believe it is more economically representative to use the SICAD I rate than the official rate to value our net monetary assets and translate future operating results.

As such, as of March 31, 2014, we began to apply the SICAD I exchange rate to remeasure our bolivar-denominated net monetary assets, and we will begin to translate our Venezuelan operating results at the new rate in the second quarter of 2014. On March 31, 2014, we recognized a $142 million currency remeasurement loss within selling, general & administrative expenses of our Latin America segment as a result of revaluing our bolivar-denominated net monetary assets from the official exchange rate of 6.30 bolivars to the U.S. dollar to the SICAD I exchange rate of 10.70 bolivars to the U.S. dollar.

The following table sets forth net revenues (translated at the 6.30 official rate prior to the remeasurement) for the three months ended March 31, 2014, and cash, net monetary assets and net assets (after the remeasurement to the SICAD I rate of 10.70 bolivars to the U.S. dollar) of our Venezuelan subsidiaries as of March 31, 2014:


Venezuela operations		Three Months Ended March 31, 2014
Net Revenues		$237 million or 2.7% of consolidated net revenue


		As of March 31, 2014
Cash		$236 million
Net Monetary Assets		$198 million
Net Assets		$466 million

The SICAD I and II rates are variable rates. Unlike the official rate that was devalued and fixed at 6.30 bolivars to the U.S. dollar, the SICAD I rate reflects currently offered rates based on recently cleared auction transactions, and the SICAD II rate reflects voluntary market-based currency exchange transactions cleared by the Central Bank of Venezuela. As such, these rates are expected to vary over time. If any of the rates, or application of the rates to our business, were to change, we would recognize additional currency losses or gains, which could be significant.

In light of the current difficult macroeconomic environment in Venezuela, we continue to monitor and actively manage our investment and exposures in Venezuela. We have taken protective measures against currency devaluation, such as converting monetary assets into non-monetary assets that we can use in our business. However, suitable protective measures have become less available and more expensive and may not be available to offset further currency devaluation that could occur.

Argentina. On January 23, 2014, the Central Bank of Argentina adjusted its currency policy, removed its currency stabilization measures and allowed the Argentine peso exchange rate to float relative to the U.S. dollar. On that day, the value of the Argentine peso relative to the U.S. dollar fell by 15%, and from December 31, 2013 through March 31, 2014, the value of the peso declined 23%. Further volatility and declines in the exchange rate are expected. Based on the current state of Argentine currency rules and regulations, the business environment remains challenging; however, we do not expect the existing controls and restrictions to have a material adverse effect on our business, financial condition or results of operations. During the first quarter of 2014, our Argentinian operations contributed approximately $170 million, or 2.0% of consolidated net revenues. Argentina is not designated as a highly-inflationary economy at this time for accounting purposes, so we continue to record currency translation adjustments within equity and realized exchange gains and losses on transactions in earnings.

New Accounting Pronouncements:

In April 2014, the Financial Accounting Standards Board (“FASB”) issued an accounting standards update on the reporting of discontinued operations. The guidance changed the definition of a discontinued operation to include dispositions that represent a strategic shift and have a major effect on operations and financial results. Strategic shifts may include the disposal of operations in a major geographical area, a major line of business, a major investment accounted for under the equity method or other major parts of an entity. For disposals that qualify, additional disclosures including cash flow and balance sheet information for the discontinued operation will be required. The guidance is effective for fiscal years and interim reporting periods beginning on or after December 15, 2014, with earlier adoption permitted. We will evaluate the new requirements with future dispositions within the scope of the standard.

Divestitures and Acquisition

The entire disclosure for all significant accounting policies of the reporting entity.

+ References+ Details

Divestitures and Acquisition

3 Months Ended

Mar. 31, 2014

Note 2. Divestitures and Acquisition

Spin-Off Costs following Kraft Foods Group Divestiture:

On October 1, 2012, we completed the Spin-Off of our North American grocery business, Kraft Foods Group, Inc. (“Kraft Foods Group”), to our shareholders (the “Spin-Off”). Following the Spin-Off, Kraft Foods Group is an independent public company and we do not beneficially own any shares of Kraft Foods Group common stock. We continue to incur primarily Spin-Off transition costs, and historically we have incurred Spin-Off transaction, transition and financing and related costs (“Spin-Off Costs”) in our operating results. We recorded $3 million of pre-tax Spin-Off Costs in the three months ended March 31, 2014 and $9 million in the three months ended March 31, 2013 within selling, general and administrative expenses. We expect to incur approximately $30 million of remaining Spin-Off Costs in 2014 related primarily to customer service and logistics, information systems and processes, as well as legal costs associated with revising intellectual property and other long-term agreements.

Acquisition:

On February 22, 2013, we acquired the remaining interest in a biscuit operation in Morocco, which is now a wholly-owned subsidiary within our EEMEA segment. We paid net cash consideration of $119 million, consisting of a $155 million purchase price net of cash acquired of $36 million. Prior to the acquisition, our interest in the operation was accounted for under the equity method. As a result of obtaining a controlling interest, we consolidated the operation and upon finalizing the valuation of the acquired net assets, as of December 31, 2013, we had recorded the fair value of acquired assets (including identifiable intangible assets of $48 million), the liabilities assumed and goodwill of $209 million. During the three months ended March 31, 2013, we also recorded a pre-tax gain of $22 million related to the remeasurement of our previously-held equity interest in the operation to fair value in accordance with U.S. GAAP and acquisition costs of $7 million in selling, general and administrative expenses and interest and other expense, net. For the three months ended March 31, 2014, we recorded integration charges of $1 million within selling, general and administrative expenses.

Inventories

3 Months Ended

Mar. 31, 2014

Inventories

Note 3. Inventories

Inventories at March 31, 2014 and December 31, 2013 were:


	March 31,		December 31,
	2014		2013
	(in millions)

Raw materials	$	1,262	$	1,165
Finished product		2,765		2,578

Inventories, net	$	4,027	$	3,743

Property, Plant and Equipment

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

+ References+ Details

Property, Plant and Equipment

3 Months Ended

Mar. 31, 2014

Note 4. Property, Plant and Equipment

Property, plant and equipment at March 31, 2014 and December 31, 2013 were:


	March 31,			December 31,
	2014			2013
	(in millions)

Land and land improvements	$	584		$	617
Buildings and building improvements		3,291			3,270
Machinery and equipment		12,479			12,351
Construction in progress		1,423			1,376

		17,777			17,614
Accumulated depreciation		(7,535	)		(7,367	)

Property, plant and equipment, net	$	10,242		$	10,247

In connection with our 2012-2014 Restructuring Program, we recorded non-cash asset write-downs (including accelerated depreciation and asset impairments) of $12 million in 2014 and $9 million in 2013. These charges were recorded in the condensed consolidated statements of earnings within asset impairment and exit costs and arose from restructuring activities further described in Note 6, 2012-2014 Restructuring Program.

Goodwill and Intangible Assets

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

+ References+ Details

Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2014

Note 5. Goodwill and Intangible Assets

Goodwill by reportable segment at March 31, 2014 and December 31, 2013 was:


	March 31, 2014		December 31, 2013
	(in millions)

Latin America	$	1,289	$	1,262
Asia Pacific		2,536		2,504
EEMEA		2,503		2,764
Europe		10,067		10,026
North America		9,013		9,041

Goodwill	$	25,408	$	25,597

Intangible assets at March 31, 2014 and December 31, 2013 were:


	March 31,			December 31,
	2014			2013
	(in millions)

Non-amortizable intangible assets	$	20,111		$	20,067
Amortizable intangible assets		2,864			2,852

		22,975			22,919
Accumulated amortization		(983	)		(925	)

Intangible assets, net	$	21,992		$	21,994

Non-amortizable intangible assets consist principally of brand names purchased through our acquisitions of Nabisco Holdings Corp., the Spanish and Portuguese operations of United Biscuits, the global LU biscuit business of Groupe Danone S.A. and Cadbury Limited. Amortizable intangible assets consist primarily of trademarks, customer-related intangibles, process technology, licenses and non-compete agreements. At March 31, 2014, the weighted-average life of our amortizable intangible assets was 13.3 years.

Amortization expense for intangible assets was $54 million in the three months ended March 31, 2014 and March 31, 2013. We currently estimate annual amortization expense for each of the next five years to be approximately $217 million.

During our 2013 review of non-amortizable intangible assets, there were no impairments identified; however, we noted 7 brands with $511 million of aggregate book value as of December 31, 2013 and fair value in excess of book value of 10% or less. While these intangible assets passed our annual impairment testing and we believe our current plans for each of these brands will allow them to continue to not be impaired, if expectations are not met or specific valuation factors outside of our control, such as discount rates, change significantly, then a brand or brands might become impaired in the future.

Changes in goodwill and intangible assets consisted of:


				Intangible
	Goodwill			Assets, at Cost
	(in millions)

Balance at January 1, 2014	$	25,597		$	22,919
Changes due to:
Currency		(189	)		56

Balance at March 31, 2014	$	25,408		$	22,975

2012-2014 Restructuring Program

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References+ Details

2012-2014 Restructuring Program

3 Months Ended

Mar. 31, 2014

Note 6. 2012-2014 Restructuring Program

In 2012, our Board of Directors approved $1.5 billion of restructuring and related implementation costs (“2012-2014 Restructuring Program”) reflecting primarily severance, asset disposals and other manufacturing-related one-time costs. The primary objective of the restructuring and implementation activities was to ensure that Mondelēz International and Kraft Foods Group were each set up to operate efficiently and execute on our respective business strategies upon separation and in the future.

Of the $1.5 billion of 2012-2014 Restructuring Program costs, we retained approximately $925 million and Kraft Foods Group retained the balance of the program. Since inception, we have incurred $506 million of our estimated $925 million total 2012-2014 Restructuring Program charges.

Restructuring Costs:

We recorded restructuring charges of $42 million in the three months ended March 31, 2014 and $40 million in the three months ended March 31, 2013 within asset impairment and exit costs.

The activity in the 2012-2014 Restructuring Program liability for the three months ended March 31, 2014 was:


	Severance and related costs			Asset Write-downs			Total
	(in millions)

Liability balance, January 1, 2014	$	68		$	–		$	68
Charges		30			12			42
Cash spent		(28	)		–			(28	)
Non-cash settlements		(1	)		(12	)		(13	)

Liability balance, March 31, 2014	$	69		$	–		$	69

We spent $28 million in the three months ended March 31, 2014 and $4 million in the three months ended March 31, 2013 in cash severance and related costs. We also recognized non-cash asset write-downs (including accelerated depreciation and asset impairments) and other non-cash settlements totaling $13 million in the three months ended March 31, 2014 and $9 million in the three months ended March 31, 2013. At March 31, 2014, our net restructuring liability was $69 million recorded within other current liabilities.

Implementation Costs:

Implementation costs are directly attributable to restructuring activities; however, they do not qualify for special accounting treatment as exit or disposal activities. These costs primarily include costs to reorganize our operations and facilities, the discontinuance of certain product lines and the incremental expenses related to the closure of facilities, replicating our information systems infrastructure and reorganizing costs related to our sales function. We believe the disclosure of implementation costs provides readers of our financial statements greater transparency to the total costs of our 2012-2014 Restructuring Program. Within our continuing results of operations, we recorded implementation costs of $24 million in the three months ended March 31, 2014 and $4 million in the three months ended March 31, 2013. We recorded these costs within cost of sales and selling, general and administrative expense primarily within our Europe, North America and EEMEA segments.

Restructuring and Implementation Costs by Segment:

During the three months ended March 31, 2014 and 2013, we recorded restructuring and implementation costs within operating income as follows:


	For the Three Months Ended March 31, 2014						For the Three Months Ended March 31, 2013
	Restructuring		Implementation				Restructuring		Implementation
	Costs		Costs		Total		Costs		Costs		Total
	(in millions)

Latin America	$	1	$	–	$	1	$	–	$	–	$	–
Asia Pacific		–		–		–		–		–		–
EEMEA		4		1		5		1		–		1
Europe		17		15		32		19		2		21
North America		20		7		27		20		2		22
Corporate		–		1		1		–		–		–

Total	$	42	$	24	$	66	$	40	$	4	$	44

The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

+ References+ Details

Integration Program

3 Months Ended

Mar. 31, 2014

Integration Program

Note 7. Integration Program

As a result of our combination with Cadbury Limited (formerly, Cadbury Plc or “Cadbury”) in 2010, we launched an

integration program (the “Integration Program”) to combine the Cadbury operations with our operations and realize expected annual cost savings of approximately $750 million by the end of 2013 and revenue synergies from investments in distribution, marketing and product development. We achieved cost savings of approximately $800 million in 2012, a year ahead of schedule, and achieved our planned revenue synergies in 2013. Through the end of 2013, we incurred total integration charges of approximately $1.5 billion and completed incurring planned charges on the Integration Program.

During the three months ended March 31, 2014, we recorded a reversal of Integration Program charges of $2 million related to accruals no longer required. During the three months ended March 31, 2013, we recorded Integration Program charges of $21 million in selling, general and administrative expenses within our Europe, Asia Pacific, Latin America and EEMEA segments. Changes in the remaining Integration Program liability during the three months ended March 31, 2014 were:


	2014
	(in millions)

Balance at January 1	$	145
Charges		(2	)
Cash spent		(22	)
Currency / other		(15	)

Balance at March 31	$	106

At March 31, 2014, $67 million of our net Integration Program liability was recorded within other current liabilities and $39 million, primarily related to leased facilities no longer in use, was recorded within other long-term liabilities.

Debt

3 Months Ended

Mar. 31, 2014

Debt

Note 8. Debt

Short-Term Borrowings:

At March 31, 2014 and December 31, 2013, our short-term borrowings and related weighted-average interest rates consisted of:


	March 31, 2014				December 31, 2013
	Amount		Weighted-		Amount		Weighted-
	Outstanding		Average Rate		Outstanding		Average Rate
	(in millions)				(in millions)

Commercial paper	$	2,161		0.4%	$	1,410		0.4%
Bank loans		342		8.7%		226		7.0%

Total short-term borrowings	$	2,503			$	1,636

As of March 31, 2014, the commercial paper issued and outstanding had between 1 and 227 days remaining to maturity. Bank loans include borrowings on primarily uncommitted credit lines maintained by some of our international subsidiaries to meet short-term working capital needs.

Borrowing Arrangements:

We maintain a revolving credit facility for general corporate purposes, including for working capital requirements and to support our commercial paper program. Our $4.5 billion five-year senior unsecured revolving credit facility expires on October 11, 2018. The revolving credit agreement includes a covenant that we maintain a minimum shareholders’ equity of at least $24.6 billion, excluding accumulated other comprehensive earnings / (losses) and the cumulative effects of any changes in accounting principles. At March 31, 2014, we met the covenant as our shareholders’ equity as defined by the covenant was $34.8 billion. The revolving credit agreement also contains customary representations, covenants and events of default. There are no credit rating triggers, provisions or other financial covenants that could require us to post collateral as security. As of March 31, 2014, no amounts were drawn on the facility.

Long-Term Debt:

On February 19, 2014, $500 million of our 6.75% U.S. dollar notes matured. The notes and accrued interest to date were paid with cash on hand and the issuance of commercial paper.

On February 6, 2014, we completed a cash tender offer and retired $1.56 billion of our long-term U.S. dollar debt consisting of:

•

$393 million of our 7.000% Notes due in August 2037

•

$382 million of our 6.875% Notes due in February 2038

•

$250 million of our 6.875% Notes due in January 2039

•

$535 million of our 6.500% Notes due in February 2040

We financed the repurchase of these notes, including the payment of accrued interest and other costs incurred, from net proceeds received from the $3.0 billion notes issuance on January 16, 2014. In connection with retiring this debt, during the first quarter of 2014, we recorded a $492 million loss on extinguishment of debt within interest expense related to the amount we paid to retire the debt in excess of its carrying value and from recognizing unamortized discounts and deferred financing costs in earnings at the time of the debt extinguishment. The loss on extinguishment is included in long-term debt repayments in the 2014 consolidated statement of cash flows. We also recognized $2 million in interest expense related to interest rate cash flow hedges that were deferred in accumulated other comprehensive losses and recognized into earnings over the life of the debt. Upon extinguishing the debt, the deferred cash flow hedge amounts were recorded in earnings.

On January 16, 2014, we issued $3.0 billion of U.S. dollar notes, consisting of:

•

$400 million of floating rate notes that bear interest at a rate equal to three-month LIBOR plus 0.52% and mature on February 1, 2019

•

$850 million of 2.250% fixed rate notes that mature on February 1, 2019

•

$1,750 million of 4.000% fixed rate notes that mature on February 1, 2024

We received net proceeds of $2,982 million that were used to fund the February 2014 tender offer, pay down commercial paper borrowings and for other general corporate purposes. We recorded approximately $18 million of discounts and deferred financing costs, which will be amortized into interest expense over the life of the notes.

Our weighted-average interest rate on our total debt was 4.14% as of March 31, 2014, following the completion of the February 6, 2014 tender offer and retirement of $1.6 billion of our long-term debt and January 16, 2014 $3.0 billion note issuance. Our weighted-average interest rate on our total debt as of December 31, 2013 was 4.8%, down from 5.8% as of December 31, 2012.

Fair Value:

The fair value of our short-term borrowings at March 31, 2014 and December 31, 2013 reflects current market interest rates and approximates the amounts we have recorded on our condensed consolidated balance sheet. The fair value of our long-term debt was determined using quoted prices in active markets (Level 1 valuation data) for the publicly traded debt obligations. At March 31, 2014, the aggregate fair value of our total debt was $20,569 million and its carrying value was $18,949 million. At December 31, 2013, the aggregate fair value of our total debt was $18,835 million and its carrying value was $17,121 million.

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References+ Details

Financial Instruments

3 Months Ended

Mar. 31, 2014

Financial Instruments

Note 9. Financial Instruments

Derivative instruments were recorded at fair value in the condensed consolidated balance sheets as of March 31, 2014 and December 31, 2013 as follows:


	March 31, 2014				December 31, 2013
	Asset		Liability		Asset		Liability
	Derivatives		Derivatives		Derivatives		Derivatives
	(in millions)

Derivatives designated as hedging instruments:
Foreign exchange contracts	$	3	$	7	$	3	$	11
Commodity contracts		38		11		2		3
Interest rate contracts		136		–		209		–

	$	177	$	18	$	214	$	14

Derivatives not designated as hedging instruments:
Foreign exchange contracts	$	46	$	22	$	84	$	8
Commodity contracts		103		76		60		51
Interest rate contracts		59		36		64		38

	$	208	$	134	$	208	$	97


Total fair value	$	385	$	152	$	422	$	111

We record derivative assets and liabilities on a gross basis in our condensed consolidated balance sheet. The fair value of our asset derivatives is recorded within other current assets and the fair value of our liability derivatives is recorded within other current liabilities. See our consolidated financial statements and related notes in our Annual Report on Form 10-K for the year ended December 31, 2013 for additional information on our risk management strategies and use of derivatives and related accounting.

The fair value (asset / (liability)) of our derivative instruments at March 31, 2014 were determined using:


			Quoted Prices in
			Active Markets		Significant		Significant
	Total		for Identical		Other Observable		Unobservable
	Fair Value of Net		Assets		Inputs		Inputs
	Asset / (Liability)		(Level 1)		(Level 2)		(Level 3)
	(in millions)

Foreign exchange contracts	$	20	$	–	$	20	$	–
Commodity contracts		54		30		24		–
Interest rate contracts		159		–		159		–

Total derivatives	$	233	$	30	$	203	$	–

The fair value (asset / (liability)) of our derivative instruments at December 31, 2013 were determined using:


			Quoted Prices in
			Active Markets			Significant		Significant
	Total		for Identical			Other Observable		Unobservable
	Fair Value of Net		Assets			Inputs		Inputs
	Asset / (Liability)		(Level 1)			(Level 2)		(Level 3)
	(in millions)

Foreign exchange contracts	$	68	$	–		$	68	$	–
Commodity contracts		8		(4	)		12		–
Interest rate contracts		235		–			235		–

Total derivatives	$	311	$	(4	)	$	315	$	–

Level 1 financial assets and liabilities consist of exchange-traded commodity futures and listed options. The fair value of these instruments is determined based on quoted market prices on commodity exchanges. Our exchange-traded derivatives are generally subject to master netting arrangements that permit net settlement of transactions with the same counterparty when certain criteria are met, such as in the event of default. We are also required to maintain cash margin accounts in connection with funding the settlement of our open positions and the margin requirements generally fluctuate daily based on market conditions. We have recorded a margin excess related to our exchange-traded derivatives of $7 million as of March 31, 2014 and margin deposits of $22 million as of December 31, 2013 within other current assets. Based on our net asset or liability positions with individual counterparties, in the event of default and immediate net settlement of all of our open positions, as of March 31, 2014, our counterparties would owe us a total of $33 million, and as of December 31, 2013, our counterparties would owe us a total of $7 million.

Level 2 financial assets and liabilities consist primarily of over-the-counter (“OTC”) currency exchange forwards, options and swaps; commodity forwards and options; and interest rate swaps. Our currency exchange contracts are valued using an income approach based on observable market forward rates less the contract rate multiplied by the notional amount. Commodity derivatives are valued using an income approach based on the observable market commodity index prices less the contract rate multiplied by the notional amount or based on pricing models that rely on market observable inputs such as commodity prices. Our calculation of the fair value of interest rate swaps is derived from a discounted cash flow analysis based on the terms of the contract and the observable market interest rate curve. Our calculation of the fair value of financial instruments takes into consideration the risk of nonperformance, including counterparty credit risk. Our OTC derivative transactions are governed by International Swap Dealers Association (“ISDA”) agreements and other standard industry contracts. Under these agreements, we do not post nor require collateral from our counterparties. The majority of our commodity OTC derivatives do not have a legal right of set-off. In connection with our OTC derivatives that could be net-settled in the event of default, assuming all parties were to fail to comply with the terms of the agreements, for derivatives we have in a net liability position, we would owe $51 million as of March 31, 2014 and $47 million as of December 31, 2013, and for derivatives we have in a net asset position, our counterparties would owe us a total of $239 million as of March 31, 2014 and $349 million as of December 31, 2013. We manage the credit risk in connection with these and all our derivatives by entering into transactions with counterparties with investment grade credit ratings, limiting the amount of exposure with each counterparty and monitoring the financial condition of our counterparties.

Derivative Volume:

The net notional values of our derivative instruments as of March 31, 2014 and December 31, 2013 were:


	Notional Amount
	March 31,		December 31,
	2014		2013
	(in millions)

Foreign exchange contracts:
Intercompany loans and forecasted interest payments	$	4,317	$	4,369
Forecasted transactions		2,205		2,565
Commodity contracts		796		805
Interest rate contracts		2,278		2,273
Net investment hedge – euro notes		4,475		4,466
Net investment hedge – pound sterling notes		1,083		1,076

Cash Flow Hedges:

Cash flow hedge activity, net of taxes, within accumulated other comprehensive earnings / (losses) included:


	For the Three Months Ended
	March 31,
	2014			2013
	(in millions)

Accumulated gain / (loss) at beginning of period	$	117		$	(38	)
Transfer of realized losses / (gains) in fair value to earnings		(1	)		17
Unrealized gain / (loss) in fair value		(34	)		21

Accumulated gain / (loss) at March 31	$	82		$	—

After-tax gains / (losses) reclassified from accumulated other comprehensive earnings / (losses) into net earnings were:


	For the Three Months Ended
	March 31,
	2014			2013
	(in millions)

Foreign exchange contracts – forecasted transactions	$	(2	)	$	(8	)
Commodity contracts		5			(9	)
Interest rate contracts		(2	)		—

Total	$	1		$	(17	)

After-tax gains / (losses) recognized in other comprehensive earnings / (losses) were:


	For the Three Months Ended
	March 31,
	2014			2013
	(in millions)

Foreign exchange contracts – forecasted transactions	$	2		$	6
Commodity contracts		11			(4	)
Interest rate contracts		(47	)		19

Total	$	(34	)	$	21

Cash flow hedge ineffectiveness and amounts excluded from effectiveness testing were not material for all periods presented.

We record pre-tax (i) gains or losses reclassified from accumulated other comprehensive earnings / (losses) into earnings, (ii) gains or losses on ineffectiveness, and (iii) gains or losses on amounts excluded from effectiveness testing in:

•

cost of sales for commodity contracts;

•

cost of sales for currency exchange contracts related to forecasted transactions; and

•

interest and other expense, net for interest rate contracts and currency exchange contracts related to intercompany loans.

Based on current market conditions, we would expect to transfer unrealized gains of $5 million (net of taxes) for commodity cash flow hedges, unrealized losses of $2 million (net of taxes) for currency cash flow hedges and unrealized losses of $1 million (net of taxes) for interest rate cash flow hedges to earnings during the next 12 months.

Hedge Coverage:

As of March 31, 2014, we hedged transactions forecasted to impact cash flows over the following periods:

•

commodity transactions for periods not exceeding the next 12 months;

•

interest rate transactions for periods not exceeding the next 31 years and 11 months; and

•

currency exchange transactions for periods not exceeding the next 9 months.

Economic Hedges:

Pre-tax gains / (losses) recorded in net earnings for economic hedges which are not designated as hedging instruments were:


							Location of
	For the Three Months Ended						Gain / (Loss)
	March 31,						Recognized
	2014			2013			in Earnings
	(in millions)

Foreign exchange contracts:
Intercompany loans and forecasted interest payments	$	(2	)	$	20		Interest expense
Forecasted purchases		(10	)		(12	)	Cost of sales
Forecasted transactions		(5	)		–		Interest expense
Forecasted transactions		(1	)		(1	)	Selling, general and administrative expenses
Interest rate contracts		–			(2	)	Interest expense
Commodity contracts		38			17		Cost of sales

Total	$	20		$	22

Hedges of Net Investments in International Operations:

After-tax gains / (losses) related to hedges of net investments in international operations in the form of euro and pound sterling-denominated debt were:


	For the Three Months Ended					Location of Gain / (Loss) Recognized in AOCI
	March 31,
	2014			2013
	(in millions)

Euro notes	$	(5	)	$	20	Currency Translation
Pound sterling notes		(4	)		44	Adjustment

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

Commitments and Contingencies

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+ Details

Benefit Plans

3 Months Ended

Mar. 31, 2014

Benefit Plans

Note 10. Benefit Plans

Pension Plans

Components of Net Periodic Pension Cost:

Net periodic pension cost for the three months ended March 31, 2014 and 2013 consisted of:


	U.S. Plans						Non-U.S. Plans
	For the Three Months Ended						For the Three Months Ended
	March 31,						March 31,
	2014			2013			2014			2013
	(in millions)

Service cost	$	15		$	17		$	44		$	43
Interest cost		17			15			97			89
Expected return on plan assets		(20	)		(17	)		(123	)		(108	)
Amortization:
Net loss from experience differences		8			14			27			35
Prior service cost		–			1			–			–
Settlement losses		2			3			5			–

Net periodic pension cost	$	22		$	33		$	50		$	59

Employer Contributions:

We make contributions to our U.S. and non-U.S. pension plans primarily to the extent that they are tax deductible and do not generate an excise tax liability. During the three months ended March 31, 2014, we contributed $2 million to our U.S. plans and $137 million to our non-U.S. plans. Based on current tax law, we plan to make further contributions of approximately $8 million to our U.S. plans and approximately $172 million to our non-U.S. plans during the remainder of 2014. However, our actual contributions may differ due to many factors, including changes in tax and other benefit laws or significant differences between expected and actual pension asset performance or interest rates.

Postretirement Benefit Plans

Net postretirement health care costs during the three months ended March 31, 2014 and 2013 consisted of:


	For the Three Months Ended
	March 31,
	2014			2013
	(in millions)

Service cost	$	3		$	4
Interest cost		5			5
Amortization:
Net loss from experience differences		2			3
Prior service credit		(3	)		(3	)

Net postretirement health care costs	$	7		$	9

Postemployment Benefit Plans

Net postemployment costs during the three months ended March 31, 2014 and 2013 consisted of:


	For the Three Months Ended
	March 31,
	2014		2013
	(in millions)

Service cost	$	2	$	2
Interest cost		2		1

Net postemployment costs	$	4	$	3

Stock Plans

3 Months Ended

Mar. 31, 2014

Stock Plans

Note 11. Stock Plans

Stock Options:

In February 2014, as part of our annual equity program, we granted 9.9 million stock options to eligible employees at an exercise price of $34.17 per share. During the three months ended March 31, 2014, we granted 0.1 million of additional stock options with a weighted-average exercise price of $34.44 per share. In total, 10.0 million stock options were granted with a weighted-average exercise price of $34.17 per share. During the three months ended March 31, 2014, 2.5 million stock options, with an intrinsic value of $33.1 million, were exercised.

Restricted and Deferred Stock:

In January 2014, in connection with our long-term incentive plan, we granted 1.2 million shares of restricted and deferred stock at a market value of $34.97 per share. In February 2014, as part of our annual equity program, we granted 2.0 million shares of restricted and deferred stock to eligible employees at a market value of $34.17 per share. During the three months ended March 31, 2014, we issued 0.6 million of additional restricted and deferred shares with a weighted-average market value of $31.63 per share. The majority of these shares related to long-term incentive plan grants made in 2011 that vested during the first quarter of 2014. In total, 3.8 million restricted and deferred shares were issued with a weighted-average market value of $34.00 per share. During the three months ended March 31, 2014, 3.8 million shares of restricted and deferred stock vested with a market value on the vesting date of $131.4 million.

Share Repurchase Program:

During 2013, our Board of Directors authorized the repurchase of $7.7 billion of our Common Stock through December 31, 2016. Repurchases under the program are determined by management and are wholly discretionary. During the three months ended March 31, 2014, we repurchased 14.4 million shares of Common Stock at an average cost of $34.20 per share, or an aggregate cost of $492 million, of which $468 million was paid during the quarter. All share repurchases were funded through available cash and commercial paper issuances. As of March 31, 2014, we have $4.5 billion in remaining share repurchase capacity.

In December 2013, we initiated an accelerated share repurchase (“ASR”) program. On December 3, 2013, we paid $1.7 billion and received an initial delivery of 44.8 million shares of Common Stock valued at $1.5 billion. We increased treasury stock by $1.5 billion, and the remaining $0.2 billion was recorded against additional paid in capital until the final share repurchases are settled by the end of the second quarter of 2014. The total aggregate number of shares to be repurchased through the ASR program will be determined based on the volume-weighted average price of our Common Stock during the purchase period less a fixed per share discount.

Commitments and Contingencies

3 Months Ended

Mar. 31, 2014

Note 12. Commitments and Contingencies

Legal Proceedings:

We routinely are involved in legal proceedings, claims and governmental inspections or investigations (“Legal Matters”) arising in the ordinary course of our business.

A compliant and ethical corporate culture, which includes adhering to laws and industry regulations in all jurisdictions in which we do business, is integral to our success. Accordingly, after we acquired Cadbury in February 2010 we began reviewing and adjusting, as needed, Cadbury’s operations in light of applicable standards as well as our policies and practices. We initially focused on such high priority areas as food safety, the Foreign Corrupt Practices Act (“FCPA”) and antitrust. Based upon Cadbury’s pre-acquisition policies and compliance programs and our post-acquisition reviews, our preliminary findings indicated that Cadbury’s overall state of compliance was sound. Nonetheless, through our reviews, we determined that in certain jurisdictions, including India, there appeared to be facts and circumstances warranting further investigation. We are continuing our investigations in certain jurisdictions, including in India, and we continue to cooperate with governmental authorities.

As we previously disclosed, on February 1, 2011, we received a subpoena from the SEC in connection with an investigation under the FCPA, primarily related to a facility in India that we acquired in the Cadbury acquisition. The subpoena primarily requests information regarding dealings with Indian governmental agencies and officials to obtain approvals related to the operation of that facility. We are continuing to cooperate with the U.S. and Indian governments in their investigations of these matters, including through preliminary meetings with the U.S. government to discuss potential conclusion of the investigation.

On February 28, 2013, Cadbury India Limited (now known as Mondelez India Foods Limited), a subsidiary of Mondelēz International, and other parties received a show cause notice from the Indian Department of Central Excise Authority (the “Excise Authority”). The notice calls upon the parties to demonstrate why the Excise Authority should not collect approximately $46 million of unpaid excise tax as well as approximately $46 million of penalties and interest related to production at the same Indian facility. Subsequently, the Excise Authority issued another show cause notice, dated March 3, 2014, on the same issue but covering the period February to December 2013, thereby adding approximately $20 million of unpaid excise tax as well as approximately $20 million of penalties and interest to the amount claimed by the Excise Authority. The latest notice includes an accruing claim for excise as finished products leave the facility on an ongoing basis. We believe that our decision to claim the excise tax benefit is valid and we are contesting the show cause notices through the administrative and judicial process.

In April 2013, the staff of the Commodity Futures Trading Commission (“CFTC”) advised us and Kraft Foods Group that it was investigating activities related to the trading of December 2011 wheat futures contracts that occurred prior to the Spin-Off of Kraft Foods Group. We are cooperating with the staff in its investigation. In March 2014, the staff advised us that they are prepared to recommend that the CFTC consider commencing a formal action. We are seeking to resolve this matter prior to any formal action being taken. It is not possible to predict the outcome of this matter; however, based on our Separation and Distribution Agreement with Kraft Foods Group dated as of September 27, 2012, we expect to predominantly bear any monetary penalties or other payments that the CFTC may impose.

While we cannot predict with certainty the results of Legal Matters in which we are currently involved, we do not expect that the ultimate costs to resolve any of these Legal Matters, individually or in the aggregate, will have a material effect on our financial results.

Third-Party Guarantees:

We enter into third-party guarantees primarily to cover the long-term obligations of our vendors. As part of these transactions, we guarantee that third parties will make contractual payments or achieve performance measures. At March 31, 2014, we had no material third-party guarantees recorded on our condensed consolidated balance sheet.

Reclassifications from Accumulated Other Comprehensive Income

The entire disclosure for commitments and contingencies.

+ References+ Details

Reclassifications from Accumulated Other Comprehensive Income

3 Months Ended

Mar. 31, 2014

Note 13. Reclassifications from Accumulated Other Comprehensive Income

The components of accumulated other comprehensive earnings / (losses) attributable to Mondelēz International were:


	Mondelēz International Shareholders’ Equity
	Currency Translation Adjustments			Pension and Other Benefits			Derivatives Accounted for as Hedges			Total
	(in millions)

Balances at January 1, 2014	$	(1,414	)	$	(1,592	)	$	117		$	(2,889	)
Other comprehensive earnings / (losses), before reclassifications:
Currency translation adjustment⁽¹⁾		(225	)		8			–			(217	)
Pension and other benefits		–			6			–			6
Derivatives accounted for as hedges		(15	)		–			(56	)		(71	)
Losses / (gains) reclassified into net earnings		–			41			(2	)		39
Tax (expense) / benefit		6			(13	)		23			16

Total other comprehensive earnings / (losses)											(227	)

Balances at March 31, 2014	$	(1,648	)	$	(1,550	)	$	82		$	(3,116	)

(1)

The condensed consolidated statement of other comprehensive earnings for the three months ended March 31, 2014 includes $(1) million of currency translation adjustment attributable to noncontrolling interests.

Amounts reclassified from accumulated other comprehensive earnings / (losses) during the three months ended March 31, 2014 and their locations in the condensed consolidated financial statements were as follows:


	For the Three			Location of
	Months Ended			Gain / (Loss)
	March 31,			Recognized
	2014			in Net Earnings
	(in millions)

Pension and other benefits:
Reclassification of losses / (gains) into net earnings:
Amortization of experience losses and prior service costs⁽¹⁾	$	34
Settlement losses⁽¹⁾		7
Tax impact		(13	)	Provision for income taxes
Derivatives accounted for as hedges:
Reclassification of losses / (gains) into net earnings:
Foreign exchange contracts – forecasted transactions		2		Cost of sales
Commodity contracts		(7	)	Cost of sales
Interest rate contracts		3		Interest and other expense, net
Tax impact		–		Provision for income taxes

Total reclassifications into net earnings, net of tax		26

(1)

These items are included in the components of net periodic benefit costs disclosed in Note 10, Benefit Plans.

The entire disclosure for any adjustments made during the period to avoid double counting in comprehensive income items displayed as part of net income that also had been displayed as part of other comprehensive income in that period or earlier periods. These adjustments include reclassifications to net income of items in accumulated comprehensive income, such as deferred gains or losses on qualifying hedges when hedged item reported in net income, holding gains or losses on available-for-sale securities transferred into trading category, unrealized holding gains or losses on debt securities transferred from held-to-maturity category into available-for-sale category and accumulated translation adjustment attributable to foreign subsidiary or investment in foreign entity upon sale or liquidation.

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Income Taxes

3 Months Ended

Mar. 31, 2014

Income Taxes

Note 14. Income Taxes

See Note 1, Basis of Presentation – Revision of Financial Statements, for information related to the revision of income taxes in 2013.

Based on current tax laws, our estimated effective tax rate for 2014 is 20.1%, reflecting favorable impacts from the mix of pre-tax income in various non-U.S. tax jurisdictions, partially offset by the impact of the nondeductible loss due to the remeasurement of our Venezuelan net monetary assets. Our first quarter effective tax rate of (22.0)% was due to net tax benefits from discrete one-time events and lower pre-tax income due to the tender-related loss on debt extinguishment and the remeasurement of the Venezuela net monetary assets. Of the discrete net tax benefits of $52 million in the quarter, $51 million related to favorable tax audit settlements and expirations of statutes of limitations in several jurisdictions.

As of the first quarter of 2013, our estimated effective tax rate for 2013 was 20.0%, which reflected favorable impacts from the mix of pre-tax income in various non-U.S. tax jurisdictions. Our 2013 first quarter effective tax rate of 2.3% was favorably impacted by net tax benefits from discrete one-time events. Of the discrete net tax benefits of $94 million in the quarter, $78 million related to favorable tax audit settlements and expirations of the statutes of limitations in several jurisdictions.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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Earnings Per Share

3 Months Ended

Mar. 31, 2014

Earnings Per Share

Note 15. Earnings Per Share

Basic and diluted earnings per share (“EPS”) were calculated using the following:


	For the Three Months Ended
	March 31,
	2014			2013
	(in millions, except per share data)

Net earnings	$	150		$	542
Noncontrolling interest		(13	)		6

Net earnings attributable to Mondelēz International	$	163		$	536

Weighted-average shares for basic EPS		1,704			1,784
Plus incremental shares from assumed conversions of stock options and long-term incentive plan shares		18			14

Weighted-average shares for diluted EPS		1,722			1,798

Basic earnings per share attributable to Mondelēz International	$	0.10		$	0.30
Diluted earnings per share attributable to Mondelēz International	$	0.09		$	0.30

We exclude antidilutive Mondelēz International stock options from our calculation of weighted-average shares for diluted EPS. We excluded 4.7 million antidilutive options for the three months ended March 31, 2014 and 10.5 million antidilutive options for the three months ended March 31, 2013. We also evaluated the ASR agreement for the potential dilutive effects of any shares remaining to be received upon final ASR settlement. We determined that the additional shares would be anti-dilutive and therefore were not included in our EPS calculation for the three months ended March 31, 2014.

The entire disclosure for earnings per share.

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Segment Reporting

3 Months Ended

Mar. 31, 2014

Segment Reporting

Note 16. Segment Reporting

Our operations, management structure and segments are organized into five reportable operating segments:

•

Latin America

•

Asia Pacific

•

EEMEA

•

Europe

•

North America

We manage the operations within Latin America, Asia Pacific and EEMEA by location and Europe and North America by product category.

We use segment operating income to evaluate segment performance and allocate resources. We believe it is appropriate to disclose this measure to help investors analyze segment performance and trends. Segment operating income excludes unrealized gains and losses on hedging activities (which are a component of cost of sales), general corporate expenses (which are a component of selling, general and administrative expenses), amortization of intangibles, gains and losses on divestitures and acquisitions and acquisition-related costs (which are a component of selling, general and administrative expenses) in all periods presented. We exclude these items from segment operating income in order to provide better transparency of our segment operating results. Furthermore, we centrally manage interest and other expense, net. Accordingly, we do not present these items by segment because they are excluded from the segment profitability measure that management reviews.

Our segment net revenues and earnings were:


	For the Three Months Ended March 31,
	2014			2013
	(in millions)
Net revenues:
Latin America	$	1,356		$	1,398
Asia Pacific		1,223			1,367
EEMEA		838			863
Europe		3,557			3,458
North America		1,667			1,658

Net revenues	$	8,641		$	8,744

Earnings before income taxes:
Operating income:
Latin America	$	44		$	92
Asia Pacific		188			189
EEMEA		64			61
Europe		463			406
North America		203			170
Unrealized gains / (losses) on hedging activities		7			19
General corporate expenses		(72	)		(69	)
Amortization of intangibles		(54	)		(54	)
Gain on acquisition		–			22
Acquisition-related costs		–			(2	)

Operating income		843			834
Interest and other expense, net		720			279

Earnings before income taxes	$	123		$	555

Items impacting our segment operating results are discussed in Note 1, Basis of Presentation, including the Venezuelan currency remeasurements, Note 2, Divestitures and Acquisition, Note 6, 2012-2014 Restructuring Program, and Note 7, Integration Program.

Net revenues by consumer sector were:


	For the Three Months Ended March 31, 2014
	Latin		Asia						North
	America		Pacific		EEMEA		Europe		America		Total
	(in millions)

Biscuits	$	327	$	331	$	147	$	736	$	1,327	$	2,868
Chocolate		324		418		243		1,477		63		2,525
Gum & Candy		286		206		147		223		263		1,125
Beverages		255		122		228		777		–		1,382
Cheese & Grocery		164		146		73		344		14		741

Total net revenues	$	1,356	$	1,223	$	838	$	3,557	$	1,667	$	8,641


	For the Three Months Ended March 31, 2013
	Latin		Asia						North
	America		Pacific		EEMEA		Europe		America		Total
	(in millions)

Biscuits	$	290	$	388	$	151	$	701	$	1,293	$	2,823
Chocolate		378		449		272		1,394		73		2,566
Gum & Candy		333		222		155		229		278		1,217
Beverages		243		127		236		805		–		1,411
Cheese & Grocery		154		181		49		329		14		727

Total net revenues	$	1,398	$	1,367	$	863	$	3,458	$	1,658	$	8,744

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

Revision of Financial Statements

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+ Details

Subsequent Events

3 Months Ended

Mar. 31, 2014

Subsequent Events

Note 17. Subsequent Events

Planned Coffee Business Transactions:

On May 7, 2014, we announced that we have entered into an agreement to combine our wholly owned coffee portfolio (outside of France) with D.E Master Blenders 1753 B.V. In conjunction with this transaction, Acorn Holdings B.V. (“AHBV”), owner of D.E Master Blenders 1753, has made a binding offer to receive our coffee business in France. The parties have also invited Mondelēz International’s partners in certain joint ventures to join the new company. The transactions remain subject to regulatory approvals and the completion of employee information and consultation requirements.

Upon completion of all proposed transactions, we will receive after-tax cash proceeds of approximately $5 billion and a 49 percent equity interest in the new company, to be called Jacobs Douwe Egberts. AHBV will hold a majority share in the proposed combined company and will have a majority of the seats on the board, which will be chaired by current D.E Master Blenders 1753 Chairman Bart Becht. AHBV is owned by an investor group led by JAB Holding Company s.à r.l. We will have certain minority rights.

The transactions are expected to be completed in the course of 2015, subject to limited closing conditions, including regulatory approvals. During this time, we and D.E Master Blenders 1753 will undertake consultations with all Works Councils and employee representatives as required in connection with the transactions.

2014-2018 Restructuring Program:

On May 7, 2014, we also announced that our Board of Directors approved (1) a $3.5 billion restructuring program, comprised of approximately $2.5 billion in cash costs and $1 billion in non-cash costs and (2) up to $2.2 billion of capital expenditures. The $2.2 billion of capital expenditures to support the restructuring program are already included within our previous guidance of approximately 5 percent of net revenues for the next few years.

The restructuring program, which was approved on May 6, 2014, is intended to help us reduce operating costs to best-in-class levels. The restructuring program is intended primarily to cover severance as well as asset disposals and other manufacturing-related one-time costs. We expect the restructuring program to generate annualized savings of at least $1.5 billion by 2018. We expect to complete the program by year-end 2018.

Basis of Presentation (Policies)

3 Months Ended

Mar. 31, 2014

Basis of Presentation

The condensed consolidated financial statements include Mondelēz International, as well as our wholly owned and majority owned subsidiaries.

Revision of Financial Statements:

The effects of the revision on the condensed consolidated financial statements for the three months ended March 31, 2013 are detailed below.

Condensed Consolidated Statement of Earnings


	For the Three Months Ended March 31,
	2013
	Reported			Correction			Revised
	(in millions, except per share data)

(Benefit) / provision for income taxes	$	(19	)	$	32		$	13
Net earnings		574			(32	)		542
Net earnings attributable to Mondelēz International		568			(32	)		536
Basic earnings per share attributable to Mondelēz International	$	0.32		$	(0.02	)	$	0.30
Diluted earnings per share attributable to Mondelēz International	$	0.32		$	(0.02	)	$	0.30

Condensed Consolidated Statement of Comprehensive Earnings


	For the Three Months Ended March 31,
	2013
	Reported			Correction			Revised
	(in millions)

Net earnings	$	574		$	(32	)	$	542
Translation adjustment		(771	)		2			(769	)
Total other comprehensive losses		(728	)		2			(726	)
Comprehensive losses		(154	)		(30	)		(184	)
Comprehensive losses attributable to Mondelēz International		(153	)		(30	)		(183	)

Condensed Consolidated Statement of Cash Flows


	For the Three Months Ended March 31,
	2013
	Reported			Correction			Revised
	(in millions)

Net earnings	$	574		$	(32	)	$	542
Deferred income tax benefit		(104	)		37			(67	)
Other non-cash expense, net		44			1			45
Change in Other current assets		(85	)		(1	)		(86	)
Change in Other current liabilities		(366	)		(5	)		(371	)
Net cash used in operating activities		(385	)		–			(385	)

Currency Translation and Highly Inflationary Accounting

Currency Translation and Highly Inflationary Accounting:


Venezuela operations		Three Months Ended March 31, 2014
Net Revenues		$237 million or 2.7% of consolidated net revenue


		As of March 31, 2014
Cash		$236 million
Net Monetary Assets		$198 million
Net Assets		$466 million

New Accounting Pronouncements

New Accounting Pronouncements:

Effects of Prior Period Corrections on Condensed Consolidated Statement of Earnings

Disclosure of accounting policy for (1) transactions denominated in a currency other than the reporting enterprise's functional currency, (2) translating foreign currency financial statements that are incorporated into the financial statements of the reporting enterprise by consolidation, combination, or the equity method of accounting, and (3) remeasurement of the financial statements of a foreign reporting enterprise in a hyperinflationary economy.

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Basis of Presentation (Tables)

3 Months Ended

Mar. 31, 2014

Condensed Consolidated Statement of Earnings


	For the Three Months Ended March 31,
	2013
	Reported			Correction			Revised
	(in millions, except per share data)

(Benefit) / provision for income taxes	$	(19	)	$	32		$	13
Net earnings		574			(32	)		542
Net earnings attributable to Mondelēz International		568			(32	)		536
Basic earnings per share attributable to Mondelēz International	$	0.32		$	(0.02	)	$	0.30
Diluted earnings per share attributable to Mondelēz International	$	0.32		$	(0.02	)	$	0.30

Effects of Prior Period Corrections on Condensed Consolidated Statement of Comprehensive Earnings

Condensed Consolidated Statement of Comprehensive Earnings


	For the Three Months Ended March 31,
	2013
	Reported			Correction			Revised
	(in millions)

Net earnings	$	574		$	(32	)	$	542
Translation adjustment		(771	)		2			(769	)
Total other comprehensive losses		(728	)		2			(726	)
Comprehensive losses		(154	)		(30	)		(184	)
Comprehensive losses attributable to Mondelēz International		(153	)		(30	)		(183	)

Effects of Prior Period Corrections on Condensed Consolidated Statement of Cash Flows

Condensed Consolidated Statement of Cash Flows


	For the Three Months Ended March 31,
	2013
	Reported			Correction			Revised
	(in millions)

Net earnings	$	574		$	(32	)	$	542
Deferred income tax benefit		(104	)		37			(67	)
Other non-cash expense, net		44			1			45
Change in other current assets		(85	)		(1	)		(86	)
Change in other current liabilities		(366	)		(5	)		(371	)
Net cash used in operating activities		(385	)		–			(385	)

Net Revenues, Cash, Net Monetary and Net Assets of Company's Venezuelan Subsidiaries


Venezuela operations		Three Months Ended March 31, 2014
Net Revenues		$237 million or 2.7% of consolidated net revenue


		As of March 31, 2014
Cash		$236 million
Net Monetary Assets		$198 million
Net Assets		$466 million

Inventories (Tables)

3 Months Ended

Mar. 31, 2014

Components of Inventories

Inventories at March 31, 2014 and December 31, 2013 were:


	March 31,		December 31,
	2014		2013
	(in millions)

Raw materials	$	1,262	$	1,165
Finished product		2,765		2,578

Inventories, net	$	4,027	$	3,743

Property, Plant and Equipment (Tables)

3 Months Ended

Mar. 31, 2014

Components of Property, Plant and Equipment

Property, plant and equipment at March 31, 2014 and December 31, 2013 were:


	March 31,			December 31,
	2014			2013
	(in millions)

Land and land improvements	$	584		$	617
Buildings and building improvements		3,291			3,270
Machinery and equipment		12,479			12,351
Construction in progress		1,423			1,376

		17,777			17,614
Accumulated depreciation		(7,535	)		(7,367	)

Property, plant and equipment, net	$	10,242		$	10,247

Goodwill and Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2014

Schedule of Goodwill by Reportable Segment

Goodwill by reportable segment at March 31, 2014 and December 31, 2013 was:


	March 31, 2014		December 31, 2013
	(in millions)

Latin America	$	1,289	$	1,262
Asia Pacific		2,536		2,504
EEMEA		2,503		2,764
Europe		10,067		10,026
North America		9,013		9,041

Goodwill	$	25,408	$	25,597

Intangible Assets Disclosure

Intangible assets at March 31, 2014 and December 31, 2013 were:


	March 31,			December 31,
	2014			2013
	(in millions)

Non-amortizable intangible assets	$	20,111		$	20,067
Amortizable intangible assets		2,864			2,852

		22,975			22,919
Accumulated amortization		(983	)		(925	)

Intangible assets, net	$	21,992		$	21,994

Changes in Goodwill and Intangible Assets

Changes in goodwill and intangible assets consisted of:


				Intangible
	Goodwill			Assets, at Cost
	(in millions)

Balance at January 1, 2014	$	25,597		$	22,919
Changes due to:
Currency		(189	)		56

Balance at March 31, 2014	$	25,408		$	22,975

2012-2014 Restructuring Program (Tables)

3 Months Ended

Mar. 31, 2014

Schedule of Restructuring Costs

The activity in the 2012-2014 Restructuring Program liability for the three months ended March 31, 2014 was:


	Severance and related costs			Asset Write-downs			Total
	(in millions)

Liability balance, January 1, 2014	$	68		$	–		$	68
Charges		30			12			42
Cash spent		(28	)		–			(28	)
Non-cash settlements		(1	)		(12	)		(13	)

Liability balance, March 31, 2014	$	69		$	–		$	69

Schedule of Restructuring and Implementation Costs

During the three months ended March 31, 2014 and 2013, we recorded restructuring and implementation costs within operating income as follows:


	For the Three Months Ended March 31, 2014						For the Three Months Ended March 31, 2013
	Restructuring		Implementation				Restructuring		Implementation
	Costs		Costs		Total		Costs		Costs		Total
	(in millions)

Latin America	$	1	$	–	$	1	$	–	$	–	$	–
Asia Pacific		–		–		–		–		–		–
EEMEA		4		1		5		1		–		1
Europe		17		15		32		19		2		21
North America		20		7		27		20		2		22
Corporate		–		1		1		–		–		–

Total	$	42	$	24	$	66	$	40	$	4	$	44

Integration Program (Tables)

3 Months Ended

Mar. 31, 2014

Schedule of Changes in Integration Program Liability

Changes in the remaining Integration Program liability during the three months ended March 31, 2014 were:


	2014
	(in millions)

Balance at January 1	$	145
Charges		(2	)
Cash spent		(22	)
Currency / other		(15	)

Balance at March 31	$	106

Debt (Tables)

3 Months Ended

Mar. 31, 2014

Short-Term Borrowings and Related Weighted-Average Interest Rates

At March 31, 2014 and December 31, 2013, our short-term borrowings and related weighted-average interest rates consisted of:


	March 31, 2014				December 31, 2013
	Amount		Weighted-		Amount		Weighted-
	Outstanding		Average Rate		Outstanding		Average Rate
	(in millions)				(in millions)

Commercial paper	$	2,161		0.4%	$	1,410		0.4%
Bank loans		342		8.7%		226		7.0%

Total short-term borrowings	$	2,503			$	1,636

Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2014

Fair Value of Derivatives Instruments

Derivative instruments were recorded at fair value in the condensed consolidated balance sheets as of March 31, 2014 and December 31, 2013 as follows:


	March 31, 2014				December 31, 2013
	Asset		Liability		Asset		Liability
	Derivatives		Derivatives		Derivatives		Derivatives
	(in millions)

Derivatives designated as hedging instruments:
Foreign exchange contracts	$	3	$	7	$	3	$	11
Commodity contracts		38		11		2		3
Interest rate contracts		136		–		209		–

	$	177	$	18	$	214	$	14

Derivatives not designated as hedging instruments:
Foreign exchange contracts	$	46	$	22	$	84	$	8
Commodity contracts		103		76		60		51
Interest rate contracts		59		36		64		38

	$	208	$	134	$	208	$	97


Total fair value	$	385	$	152	$	422	$	111

Notional Values of Derivative Instruments

The net notional values of our derivative instruments as of March 31, 2014 and December 31, 2013 were:


	Notional Amount
	March 31,		December 31,
	2014		2013
	(in millions)

Foreign exchange contracts:
Intercompany loans and forecasted interest payments	$	4,317	$	4,369
Forecasted transactions		2,205		2,565
Commodity contracts		796		805
Interest rate contracts		2,278		2,273
Net investment hedge – euro notes		4,475		4,466
Net investment hedge – pound sterling notes		1,083		1,076

Hedges of Net Investments in International Operations

After-tax gains / (losses) related to hedges of net investments in international operations in the form of euro and pound sterling-denominated debt were:


	For the Three Months Ended					Location of Gain / (Loss) Recognized in AOCI
	March 31,
	2014			2013
	(in millions)

Euro notes	$	(5	)	$	20	Currency Translation
Pound sterling notes		(4	)		44	Adjustment

Derivative

Schedule of Derivative Instruments Fair Value and Measurement Inputs

The fair value (asset / (liability)) of our derivative instruments at March 31, 2014 were determined using:


			Quoted Prices in
			Active Markets		Significant		Significant
	Total		for Identical		Other Observable		Unobservable
	Fair Value of Net		Assets		Inputs		Inputs
	Asset / (Liability)		(Level 1)		(Level 2)		(Level 3)
	(in millions)

Foreign exchange contracts	$	20	$	–	$	20	$	–
Commodity contracts		54		30		24		–
Interest rate contracts		159		–		159		–

Total derivatives	$	233	$	30	$	203	$	–

The fair value (asset / (liability)) of our derivative instruments at December 31, 2013 were determined using:


			Quoted Prices in
			Active Markets			Significant		Significant
	Total		for Identical			Other Observable		Unobservable
	Fair Value of Net		Assets			Inputs		Inputs
	Asset / (Liability)		(Level 1)			(Level 2)		(Level 3)
	(in millions)

Foreign exchange contracts	$	68	$	–		$	68	$	–
Commodity contracts		8		(4	)		12		–
Interest rate contracts		235		–			235		–

Total derivatives	$	311	$	(4	)	$	315	$	–

Cash Flow Hedges

Schedule of Cash Flow Hedges Effect on Accumulated Other Comprehensive Income, Net of Taxes

Cash flow hedge activity, net of taxes, within accumulated other comprehensive earnings / (losses) included:


	For the Three Months Ended
	March 31,
	2014			2013
	(in millions)

Accumulated gain / (loss) at beginning of period	$	117		$	(38	)
Transfer of realized losses / (gains) in fair value to earnings		(1	)		17
Unrealized gain / (loss) in fair value		(34	)		21

Accumulated gain / (loss) at March 31	$	82		$	—

Schedule of Effects of Derivative Instruments

After-tax gains / (losses) reclassified from accumulated other comprehensive earnings / (losses) into net earnings were:


	For the Three Months Ended
	March 31,
	2014			2013
	(in millions)

Foreign exchange contracts – forecasted transactions	$	(2	)	$	(8	)
Commodity contracts		5			(9	)
Interest rate contracts		(2	)		—

Total	$	1		$	(17	)

After-tax gains / (losses) recognized in other comprehensive earnings / (losses) were:


	For the Three Months Ended
	March 31,
	2014			2013
	(in millions)

Foreign exchange contracts – forecasted transactions	$	2		$	6
Commodity contracts		11			(4	)
Interest rate contracts		(47	)		19

Total	$	(34	)	$	21

Economic Hedging

Schedule of Effects of Derivative Instruments

Pre-tax gains / (losses) recorded in net earnings for economic hedges which are not designated as hedging instruments were:


							Location of
	For the Three Months Ended						Gain / (Loss)
	March 31,						Recognized
	2014			2013			in Earnings
	(in millions)

Foreign exchange contracts:
Intercompany loans and forecasted interest payments	$	(2	)	$	20		Interest expense
Forecasted purchases		(10	)		(12	)	Cost of sales
Forecasted transactions		(5	)		–		Interest expense
Forecasted transactions		(1	)		(1	)	Selling, general and administrative expenses
Interest rate contracts		–			(2	)	Interest expense
Commodity contracts		38			17		Cost of sales

Total	$	20		$	22

Components of Accumulated Other Comprehensive Earnings /(Losses)

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References+ Details

Benefit Plans (Tables)

3 Months Ended

Mar. 31, 2014

Postretirement Benefit Plans

Components of Net Costs

Net postretirement health care costs during the three months ended March 31, 2014 and 2013 consisted of:


	For the Three Months Ended
	March 31,
	2014			2013
	(in millions)

Service cost	$	3		$	4
Interest cost		5			5
Amortization:
Net loss from experience differences		2			3
Prior service credit		(3	)		(3	)

Net postretirement health care costs	$	7		$	9

Pension Plans

Components of Net Costs

Net periodic pension cost for the three months ended March 31, 2014 and 2013 consisted of:


	U.S. Plans						Non-U.S. Plans
	For the Three Months Ended						For the Three Months Ended
	March 31,						March 31,
	2014			2013			2014			2013
	(in millions)

Service cost	$	15		$	17		$	44		$	43
Interest cost		17			15			97			89
Expected return on plan assets		(20	)		(17	)		(123	)		(108	)
Amortization:
Net loss from experience differences		8			14			27			35
Prior service cost		–			1			–			–
Settlement losses		2			3			5			–

Net periodic pension cost	$	22		$	33		$	50		$	59

Postemployment Benefit Plans

Components of Net Costs

Net postemployment costs during the three months ended March 31, 2014 and 2013 consisted of:


	For the Three Months Ended
	March 31,
	2014		2013
	(in millions)

Service cost	$	2	$	2
Interest cost		2		1

Net postemployment costs	$	4	$	3

Reclassifications from Accumulated Other Comprehensive Income (Tables)

3 Months Ended

Mar. 31, 2014

The components of accumulated other comprehensive earnings / (losses) attributable to Mondelēz International were:


	Mondelēz International Shareholders’ Equity
	Currency Translation Adjustments			Pension and Other Benefits			Derivatives Accounted for as Hedges			Total
	(in millions)

Balances at January 1, 2014	$	(1,414	)	$	(1,592	)	$	117		$	(2,889	)
Other comprehensive earnings / (losses), before reclassifications:
Currency translation adjustment⁽¹⁾		(225	)		8			–			(217	)
Pension and other benefits		–			6			–			6
Derivatives accounted for as hedges		(15	)		–			(56	)		(71	)
Losses / (gains) reclassified into net earnings		–			41			(2	)		39
Tax (expense) / benefit		6			(13	)		23			16

Total other comprehensive earnings / (losses)											(227	)

Balances at March 31, 2014	$	(1,648	)	$	(1,550	)	$	82		$	(3,116	)

(1)

Amounts Reclassified from Accumulated Other Comprehensive Earnings/ (Losses)


	For the Three			Location of
	Months Ended			Gain / (Loss)
	March 31,			Recognized
	2014			in Net Earnings
	(in millions)

Pension and other benefits:
Reclassification of losses / (gains) into net earnings:
Amortization of experience losses and prior service costs⁽¹⁾	$	34
Settlement losses⁽¹⁾		7
Tax impact		(13	)	Provision for income taxes
Derivatives accounted for as hedges:
Reclassification of losses / (gains) into net earnings:
Foreign exchange contracts – forecasted transactions		2		Cost of sales
Commodity contracts		(7	)	Cost of sales
Interest rate contracts		3		Interest and other expense, net
Tax impact		–		Provision for income taxes

Total reclassifications into net earnings, net of tax		26

(1)

These items are included in the components of net periodic benefit costs disclosed in Note 10, Benefit Plans.

Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2014

Basic and Diluted Earnings Per Share

Basic and diluted earnings per share (“EPS”) were calculated using the following:


	For the Three Months Ended
	March 31,
	2014			2013
	(in millions, except per share data)

Net earnings	$	150		$	542
Noncontrolling interest		(13	)		6

Net earnings attributable to Mondelēz International	$	163		$	536

Weighted-average shares for basic EPS		1,704			1,784
Plus incremental shares from assumed conversions of stock options and long-term incentive plan shares		18			14

Weighted-average shares for diluted EPS		1,722			1,798

Basic earnings per share attributable to Mondelēz International	$	0.10		$	0.30
Diluted earnings per share attributable to Mondelēz International	$	0.09		$	0.30

Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2014

Net Revenues by Segment

Our segment net revenues and earnings were:


	For the Three Months Ended March 31,
	2014		2013
	(in millions)
Net revenues:
Latin America	$	1,356	$	1,398
Asia Pacific		1,223		1,367
EEMEA		838		863
Europe		3,557		3,458
North America		1,667		1,658

Net revenues	$	8,641	$	8,744

Reconciliation of Operating Profit (Loss) from Segments to Consolidated

Earnings before income taxes:
Operating income:
Latin America	$	44		$	92
Asia Pacific		188			189
EEMEA		64			61
Europe		463			406
North America		203			170
Unrealized gains / (losses) on hedging activities		7			19
General corporate expenses		(72	)		(69	)
Amortization of intangibles		(54	)		(54	)
Gain on acquisition		–			22
Acquisition-related costs		–			(2	)

Operating income		843			834
Interest and other expense, net		720			279

Earnings before income taxes	$	123		$	555

Net Revenues by Consumer Sector

Net revenues by consumer sector were:


	For the Three Months Ended March 31, 2014
	Latin		Asia						North
	America		Pacific		EEMEA		Europe		America		Total
	(in millions)

Biscuits	$	327	$	331	$	147	$	736	$	1,327	$	2,868
Chocolate		324		418		243		1,477		63		2,525
Gum & Candy		286		206		147		223		263		1,125
Beverages		255		122		228		777		–		1,382
Cheese & Grocery		164		146		73		344		14		741

Total net revenues	$	1,356	$	1,223	$	838	$	3,557	$	1,667	$	8,641


	For the Three Months Ended March 31, 2013
	Latin		Asia						North
	America		Pacific		EEMEA		Europe		America		Total
	(in millions)

Biscuits	$	290	$	388	$	151	$	701	$	1,293	$	2,823
Chocolate		378		449		272		1,394		73		2,566
Gum & Candy		333		222		155		229		278		1,217
Beverages		243		127		236		805		–		1,411
Cheese & Grocery		154		181		49		329		14		727

Total net revenues	$	1,398	$	1,367	$	863	$	3,458	$	1,658	$	8,744

Effects of Revision on Condensed Consolidated Statement of Earnings (Detail) (USD $) In Millions, except Per Share data, unless otherwise specified	3 Months Ended		12 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Error Corrections and Prior Period Adjustments Revision [Line Items]
(Benefit) / provision for income taxes	$ (27)	$ 13
Net earnings	150	542	3,935
Net earnings attributable to Mondelez International	163	536
Basic earnings per share attributable to Mondelez International	$ 0.10	$ 0.30
Diluted earnings per share attributable to Mondelez International	$ 0.09	$ 0.30
Reported
Error Corrections and Prior Period Adjustments Revision [Line Items]
(Benefit) / provision for income taxes		(19)
Net earnings		574
Net earnings attributable to Mondelez International		568
Basic earnings per share attributable to Mondelez International		$ 0.32
Diluted earnings per share attributable to Mondelez International		$ 0.32
Correction
Error Corrections and Prior Period Adjustments Revision [Line Items]
(Benefit) / provision for income taxes		32
Net earnings		(32)
Net earnings attributable to Mondelez International		$ (32)
Basic earnings per share attributable to Mondelez International		$ (0.02)
Diluted earnings per share attributable to Mondelez International		$ (0.02)

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References+ Details

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References+ Details

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

Reference 1: http://www.xbrl.org/2003/role/presentationRef

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-Number 210

-Section 04

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Reference 2: http://www.xbrl.org/2003/role/presentationRef

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-Name Accounting Standards Codification

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Reference 4: http://www.xbrl.org/2003/role/presentationRef

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-Name Accounting Standards Codification

-Glossary Net Income

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-Section 03

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+ Details

Effects of Revision on Condensed Consolidated Statement of Comprehensive Earnings (Detail) (USD $) In Millions, unless otherwise specified	3 Months Ended		12 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Error Corrections and Prior Period Adjustments Revision [Line Items]
Net earnings	$ 150	$ 542	$ 3,935
Translation adjustment	(233)	(769)
Total other comprehensive losses	(228)	(726)	(223)
Comprehensive losses	(78)	(184)
Comprehensive losses attributable to Mondelez International	(64)	(183)
Reported
Error Corrections and Prior Period Adjustments Revision [Line Items]
Net earnings		574
Translation adjustment		(771)
Total other comprehensive losses		(728)
Comprehensive losses		(154)
Comprehensive losses attributable to Mondelez International		(153)
Correction
Error Corrections and Prior Period Adjustments Revision [Line Items]
Net earnings		(32)
Translation adjustment		2
Total other comprehensive losses		2
Comprehensive losses		(30)
Comprehensive losses attributable to Mondelez International		$ (30)

Amount before tax and reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature.

+ References+ Details

Effects of Revision on Condensed Consolidated Statement of Cash Flows (Detail) (USD $) In Millions, unless otherwise specified	3 Months Ended		12 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Error Corrections and Prior Period Adjustments Revision [Line Items]
Net earnings	$ 150	$ 542	$ 3,935
Deferred income tax benefit	(98)	(67)
Other non-cash expense, net	48	45
Change in other current assets	(59)	(86)
Change in other current liabilities	(815)	(371)
Net cash used in operating activities	(577)	(385)
Reported
Error Corrections and Prior Period Adjustments Revision [Line Items]
Net earnings		574
Deferred income tax benefit		(104)
Other non-cash expense, net		44
Change in other current assets		(85)
Change in other current liabilities		(366)
Net cash used in operating activities		(385)
Correction
Error Corrections and Prior Period Adjustments Revision [Line Items]
Net earnings		(32)
Deferred income tax benefit		37
Other non-cash expense, net		1
Change in other current assets		(1)
Change in other current liabilities		$ (5)

Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations.

+ References+ Details

Basis of Presentation - Additional Information (Detail) (USD $) In Millions, unless otherwise specified	1 Months Ended	3 Months Ended
	Jan. 23, 2014	Mar. 31, 2014	Mar. 31, 2013	Feb. 08, 2013	Jan. 02, 2010
Summary Of Significant Accounting Policies [Line Items]
Foreign currency exchange rate translation				6.30	4.30
Foreign currency impacts relating to highly inflationary accounting			$ 54
Argentina peso devalued percentage against US Dollar	15.00%	23.00%
Net revenue		8,641	8,744
Minimum
Summary Of Significant Accounting Policies [Line Items]
Foreign currency exchange rate translation		6.30
Latin America
Summary Of Significant Accounting Policies [Line Items]
Net revenue		1,356	1,398
Argentina
Summary Of Significant Accounting Policies [Line Items]
Net revenue		170
Percentage of consolidated net revenues		2.00%
SICAD I
Summary Of Significant Accounting Policies [Line Items]
Foreign currency exchange rate translation		10.70
SICAD I \| Latin America
Summary Of Significant Accounting Policies [Line Items]
Foreign currency exchange rate translation		10.70
Foreign currency impacts relating to highly inflationary accounting		$ 142
SICAD II
Summary Of Significant Accounting Policies [Line Items]
Foreign currency exchange rate translation		50.85

Net Revenues, Cash, Net Monetary and Net Assets of Company's Venezuelan Subsidiaries (Detail) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Segment Information [Line Items]
Net revenues	$ 8,641,000,000	$ 8,744,000,000
Venezuelan bolivar \| Before Currency Remeasurement
Segment Information [Line Items]
Net revenues	237,000,000
Percentage of consolidated net revenues	2.70%
Venezuelan bolivar \| SICAD I
Segment Information [Line Items]
Cash	236
Net Monetary Assets	198
Net Assets	$ 466

Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.

+ References+ Details

Divestitures and Acquisition - Additional Information (Detail) (USD $) In Millions, unless otherwise specified	1 Months Ended	3 Months Ended		12 Months Ended
	Feb. 22, 2013	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Acquisition And Dispositions [Line Items]
Acquisition, net of cash received			$ 119
Pre-tax gain on acquisition			22
Acquisition-related costs			2
Selling, general and administrative expenses
Acquisition And Dispositions [Line Items]
Spin-Off costs		3	9
Morocco
Acquisition And Dispositions [Line Items]
Acquisition, net of cash received	119
Cash paid for acquisition	155
Cash acquired	36
Pre-tax gain on acquisition			22
Acquisition-related costs			7
Identifiable intangible assets acquired in business acquisition				48
Business acquisition, liabilities assumed and goodwill				209
Restructuring and related cost, expected cost		1
Fiscal Year 2014
Acquisition And Dispositions [Line Items]
Expected spin off cost		$ 30

Components of Inventories (Detail) (USD $) In Millions, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Inventory [Line Items]
Raw materials	$ 1,262	$ 1,165
Finished product	2,765	2,578
Inventories, net	$ 4,027	$ 3,743

Property, Plant and Equipment (Detail) (USD $) In Millions, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 17,777	$ 17,614
Accumulated depreciation	(7,535)	(7,367)
Property, plant and equipment, net	10,242	10,247
Land and Land Improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	584	617
Buildings and Building Improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	3,291	3,270
Machinery and Equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	12,479	12,351
Construction in Progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 1,423	$ 1,376

Property, Plant and Equipment - Additional Information (Detail) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Property, Plant and Equipment [Line Items]
Asset impairment charges	$ 12	$ 14
2012-2014 Restructuring Program
Property, Plant and Equipment [Line Items]
Asset impairment charges	$ 12	$ 9

Goodwill by Reportable Segment (Detail) (USD $) In Millions, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Segment Reporting Information [Line Items]
Goodwill	$ 25,408	$ 25,597
Latin America
Segment Reporting Information [Line Items]
Goodwill	1,289	1,262
Asia Pacific
Segment Reporting Information [Line Items]
Goodwill	2,536	2,504
EEMEA
Segment Reporting Information [Line Items]
Goodwill	2,503	2,764
Europe Segment
Segment Reporting Information [Line Items]
Goodwill	10,067	10,026
North America Segment
Segment Reporting Information [Line Items]
Goodwill	$ 9,013	$ 9,041

Intangible Assets (Detail) (USD $) In Millions, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Intangible Assets [Line Items]
Non-amortizable intangible assets	$ 20,111	$ 20,067
Amortizable intangible assets	2,864	2,852
Total intangible assets, gross	22,975	22,919
Accumulated amortization	(983)	(925)
Intangible assets, net	$ 21,992	$ 21,994

Goodwill and Intangible Assets - Additional Information (Detail) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013 Brand
Goodwill and Intangible Assets Disclosure [Line Items]
Amortization expense for intangible assets	$ 54	$ 54
Estimated amortization expense for each of the next five years	217
Number of brands			7
Intangible asset, aggregate book value	20,111		20,067
Fair Value Over Book Value 10% or Less
Goodwill and Intangible Assets Disclosure [Line Items]
Intangible asset, aggregate book value			$ 511
Weighted Average
Goodwill and Intangible Assets Disclosure [Line Items]
Life of our amortizable intangible assets (in years)	13 years 3 months 18 days

Changes in Goodwill and Intangible Assets (Detail) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014
Goodwill And Intangible Assets [Line Items]
Goodwill beginning balance	$ 25,597
Currency, Goodwill	(189)
Goodwill ending balance	25,408
Intangible Assets, at Cost beginning balance	22,919
Currency, Intangible Assets, at Cost	56
Intangible Assets, at Cost ending balance	$ 22,975

2012-2014 Restructuring Program - Additional Information (Detail) (2012-2014 Restructuring Program, USD $)	3 Months Ended		12 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2012	Dec. 31, 2013
Restructuring Cost and Reserve [Line Items]
Restructuring and related activities, authorized amount			$ 1,500,000,000
Restructuring and related cost, expected cost	925,000,000
Restructuring and related cost, cost incurred	506,000,000
Restructuring charges	42,000,000	40,000,000
Cash spent	28,000,000	4,000,000
Non-cash asset write-downs and other non-cash settlements	13,000,000	9,000,000
Net restructuring liability	69,000,000			68,000,000
Implementation Costs	24,000,000	4,000,000
Selling, general and administrative expenses
Restructuring Cost and Reserve [Line Items]
Implementation Costs	$ 24,000,000	$ 4,000,000

Amount of expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses related to a discontinued operation or an asset retirement obligation.

+ References+ Details

Schedule of Restructuring Costs (Detail) (2012-2014 Restructuring Program, USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Restructuring Cost and Reserve [Line Items]
Balance at beginning of period	$ 68
Charges	42	40
Cash spent	(28)	(4)
Non-cash settlements	(13)	(9)
Balance at end of period	69
Severance And Related Costs
Restructuring Cost and Reserve [Line Items]
Balance at beginning of period	68
Charges	30
Cash spent	(28)
Non-cash settlements	(1)
Balance at end of period	69
Asset Write-Downs
Restructuring Cost and Reserve [Line Items]
Charges	12
Non-cash settlements	$ (12)

Amount of expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses related to a discontinued operation or an asset retirement obligation.

+ References+ Details

Restructuring and Implementation Costs (Detail) (2012-2014 Restructuring Program, USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Restructuring Cost and Reserve [Line Items]
Restructuring Costs	$ 42	$ 40
Implementation Costs	24	4
Total	66	44
Latin America
Restructuring Cost and Reserve [Line Items]
Restructuring Costs	1
Total	1
EEMEA
Restructuring Cost and Reserve [Line Items]
Restructuring Costs	4	1
Implementation Costs	1
Total	5	1
Europe Segment
Restructuring Cost and Reserve [Line Items]
Restructuring Costs	17	19
Implementation Costs	15	2
Total	32	21
North America Segment
Restructuring Cost and Reserve [Line Items]
Restructuring Costs	20	20
Implementation Costs	7	2
Total	27	22
Corporate
Restructuring Cost and Reserve [Line Items]
Implementation Costs	1
Total	$ 1

Amount of expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses related to a discontinued operation or an asset retirement obligation.

+ References+ Details

Integration Program - Additional Information (Detail) (Cadbury Integration Program, USD $) In Millions, unless otherwise specified	3 Months Ended	12 Months Ended		3 Months Ended
	Mar. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Mar. 31, 2013 Selling, general and administrative expenses	Mar. 31, 2014 Other Current Liabilities	Mar. 31, 2014 Other Long Term Liabilities
Restructuring Cost and Reserve [Line Items]
Expected cost savings to be recognized		$ 750
Annual costs savings			800
Restructuring and related cost, expected cost		1,500
Reversal of integration charges	2
Charges incurred	(2)			21
Restructuring reserve	$ 106	$ 145			$ 67	$ 39

Amount of expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses related to a discontinued operation or an asset retirement obligation.

+ References+ Details

Schedule of Liability Activity for Integration Programs (Detail) (Cadbury Integration Program, USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014
Cadbury Integration Program
Integration Program [Line Items]
Balance at beginning of period	$ 145
Charges	(2)
Cash spent	(22)
Currency / other	(15)
Balance at end of period	$ 106

Amount of expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses related to a discontinued operation or an asset retirement obligation.

+ References+ Details

Short-Term Borrowings and Related Weighted-Average Interest Rates (Detail) (USD $) In Millions, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Short-term Debt [Line Items]
Amount outstanding	$ 2,503	$ 1,636
Commercial Paper
Short-term Debt [Line Items]
Amount outstanding	2,161	1,410
Weighted-average rate	0.40%	0.40%
Bank Loans
Short-term Debt [Line Items]
Amount outstanding	$ 342	$ 226
Weighted-average rate	8.70%	7.00%

Reflects the total carrying amount as of the balance sheet date of debt having initial terms less than one year or the normal operating cycle, if longer.

+ References+ Details

Debt - Additional Information (Detail) (USD $)	3 Months Ended				3 Months Ended			1 Months Ended			1 Months Ended					1 Months Ended
Debt - Additional Information (Detail) (USD $)	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013	Dec. 31, 2012	Mar. 31, 2014 Revolving Credit Facility	Mar. 31, 2014 Commercial Paper Minimum	Mar. 31, 2014 Commercial Paper Maximum	Feb. 06, 2014 Tender Offer	Jan. 16, 2014 Tender Offer	Feb. 28, 2014 Tender Offer	Jan. 16, 2014 Tender Offer Floating Rate Notes	Feb. 06, 2014 Tender Offer 7.000% Notes due in August 2037	Feb. 06, 2014 Tender Offer 6.875% Notes due in February 2038	Feb. 06, 2014 Tender Offer 6.875% Notes due in January 2039	Feb. 06, 2014 Tender Offer 6.500% Notes due in February 2040	Jan. 16, 2014 London Interbank Offered Rate (LIBOR) Tender Offer Floating Rate Notes	Feb. 06, 2014 Cash Flow Hedges Interest rate contracts Tender Offer	Jan. 16, 2014 2.250% Fixed Rate Notes Tender Offer	Jan. 16, 2014 4.000% Fixed Rate Notes Tender Offer	Feb. 19, 2014 6.75% Notes
Debt Instrument [Line Items]
Commercial paper, Maturity period						1 day	227 days
Line of credit facility, maximum borrowing capacity					$ 4,500,000,000
Line of credit facility expiration date					Oct. 11, 2018
Revolving credit agreement debt covenant					24,600,000,000
Total shareholders' equity, excluding accumulated other comprehensive earnings / (losses)					34,800,000,000
Line of credit facility outstanding amount					0
Repayment of debt	2,514,000,000	752,000,000																		500,000,000
Debt instrument interest rate												7.00%	6.875%	6.875%	6.50%					6.75%
Cash tender offer amount								1,560,000,000
Debt instrument repurchased, principal amount								1,560,000,000				393,000,000	382,000,000	250,000,000	535,000,000
Debt instrument expiration												2037-08	2038-02	2039-01	2040-02
Debt instrument, principal amount									3,000,000,000		400,000,000							850,000,000	1,750,000,000
Loss on extinguishment of debt	(492,000,000)							(492,000,000)
Interest expense																	2,000,000
Debt instrument basis spread on variable rate																0.52%
Deb instrument maturity date											Feb. 01, 2019							Feb. 01, 2019	Feb. 01, 2024
Debt instrument, fixed interest rate																		2.25%	4.00%
Net proceeds from issuance of notes									2,982,000,000
Discounts and deferred financing costs										18,000,000
Weighted-average interest rate	4.14%		4.80%	5.80%
Fair value of total debt	20,569,000,000		18,835,000,000
Carrying value of total debt	$ 18,949,000,000		$ 17,121,000,000

Fair Value of Derivative Instruments (Detail) (USD $) In Millions, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Derivatives, Fair Value [Line Items]
Asset Derivatives	$ 385	$ 422
Liability Derivatives	152	111
Derivatives Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Asset Derivatives	177	214
Liability Derivatives	18	14
Derivatives Designated as Hedging Instruments \| Foreign exchange contracts
Derivatives, Fair Value [Line Items]
Asset Derivatives	3	3
Liability Derivatives	7	11
Derivatives Designated as Hedging Instruments \| Commodity contracts
Derivatives, Fair Value [Line Items]
Asset Derivatives	38	2
Liability Derivatives	11	3
Derivatives Designated as Hedging Instruments \| Interest rate contracts
Derivatives, Fair Value [Line Items]
Asset Derivatives	136	209
Derivatives Not Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Asset Derivatives	208	208
Liability Derivatives	134	97
Derivatives Not Designated as Hedging Instruments \| Foreign exchange contracts
Derivatives, Fair Value [Line Items]
Asset Derivatives	46	84
Liability Derivatives	22	8
Derivatives Not Designated as Hedging Instruments \| Commodity contracts
Derivatives, Fair Value [Line Items]
Asset Derivatives	103	60
Liability Derivatives	76	51
Derivatives Not Designated as Hedging Instruments \| Interest rate contracts
Derivatives, Fair Value [Line Items]
Asset Derivatives	59	64
Liability Derivatives	$ 36	$ 38

Derivative Instruments Fair Value and Measurement Inputs (Detail) (USD $) In Millions, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Derivative [Line Items]
Derivative fair value net asset (liability)	$ 233	$ 311
Foreign exchange contracts
Derivative [Line Items]
Derivative fair value net asset (liability)	20	68
Commodity contracts
Derivative [Line Items]
Derivative fair value net asset (liability)	54	8
Interest rate contracts
Derivative [Line Items]
Derivative fair value net asset (liability)	159	235
Quoted Prices In Active Markets For Identical Assets (Level 1)
Derivative [Line Items]
Derivative fair value net asset (liability)	30	(4)
Quoted Prices In Active Markets For Identical Assets (Level 1) \| Commodity contracts
Derivative [Line Items]
Derivative fair value net asset (liability)	30	(4)
Significant Other Observable Inputs (Level 2)
Derivative [Line Items]
Derivative fair value net asset (liability)	203	315
Significant Other Observable Inputs (Level 2) \| Foreign exchange contracts
Derivative [Line Items]
Derivative fair value net asset (liability)	20	68
Significant Other Observable Inputs (Level 2) \| Commodity contracts
Derivative [Line Items]
Derivative fair value net asset (liability)	24	12
Significant Other Observable Inputs (Level 2) \| Interest rate contracts
Derivative [Line Items]
Derivative fair value net asset (liability)	$ 159	$ 235

Financial Instruments - Additional Information (Detail) (USD $) In Millions, unless otherwise specified			3 Months Ended
	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2014 Commodity contracts	Mar. 31, 2014 Foreign exchange contracts	Mar. 31, 2014 Interest rate contracts	Mar. 31, 2014 Cash Flow Hedges Commodity contracts	Mar. 31, 2014 Cash Flow Hedges Foreign exchange contracts	Mar. 31, 2014 Cash Flow Hedges Interest rate contracts	Mar. 31, 2014 Exchange Traded Options	Dec. 31, 2013 Exchange Traded Options	Mar. 31, 2014 Exchange Traded Options Other Current Assets	Dec. 31, 2013 Exchange Traded Options Other Current Assets
Derivative Instruments, Gain (Loss) [Line Items]
Margin excess related to exchange traded derivatives											$ 7
Margin deposits related to exchange traded derivatives												22
Derivative asset amounts that could be net settled	239	349							33	7
Derivative liability amounts that could be net settled	51	47
Expected transfers of unrealized gains (losses) to earnings, within next 12 months						$ 5	$ (2)	$ (1)
Hedged forecasted transactions			12 months	9 months	31 years 11 months

Notional Values of Derivative Instruments (Detail) (USD $) In Millions, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Net Investment Hedging \| Euro Notes
Derivative [Line Items]
Notional Amount	$ 4,475	$ 4,466
Net Investment Hedging \| Pound Sterling Notes
Derivative [Line Items]
Notional Amount	1,083	1,076
Foreign exchange contracts \| Intercompany Loans And Forecasted Interest Payments
Derivative [Line Items]
Notional Amount	4,317	4,369
Foreign exchange contracts \| Forecasted transactions
Derivative [Line Items]
Notional Amount	2,205	2,565
Commodity contracts
Derivative [Line Items]
Notional Amount	796	805
Interest rate contracts
Derivative [Line Items]
Notional Amount	$ 2,278	$ 2,273

Schedule of Cash Flow Hedges Effect on Accumulated Other Comprehensive Income, Net of Taxes (Detail) (Cash Flow Hedges, USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Cash Flow Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Accumulated gain / (loss) at beginning of period	$ 117	$ (38)
Transfer of realized losses / (gains) in fair value to earnings	(1)	17
Unrealized gain / (loss) in fair value	(34)	21
Accumulated gain / (loss) at ending of period	$ 82

Accumulated Other Comprehensive Income (Loss) [Line Items]

Accumulated change, net of tax, in accumulated gains and losses from derivative instruments designated and qualifying as the effective portion of cash flow hedges. Includes an entity's share of an equity investee's Increase or Decrease in deferred hedging gains or losses.

+ References+ Details

Effects of Cash Flow Hedges (Detail) (Cash Flow Hedges, USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Derivative Instruments, Gain (Loss) [Line Items]
Gains / (losses) reclassified from AOCI into earnings	$ 1	$ (17)
Gains / (losses) recognized in OCI	(34)	21
Foreign exchange contracts \| Forecasted transactions
Derivative Instruments, Gain (Loss) [Line Items]
Gains / (losses) reclassified from AOCI into earnings	(2)	(8)
Gains / (losses) recognized in OCI	2	6
Commodity contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gains / (losses) reclassified from AOCI into earnings	5	(9)
Gains / (losses) recognized in OCI	11	(4)
Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gains / (losses) reclassified from AOCI into earnings	(2)
Gains / (losses) recognized in OCI	$ (47)	$ 19

Economic Hedges (Detail) (Derivatives Not Designated as Hedging Instruments, Economic Hedging, USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Derivative Instruments, Gain (Loss) [Line Items]
Gain / (Loss) Recognized in Earnings	$ 20	$ 22
Interest rate contracts \| Interest And Other Expense
Derivative Instruments, Gain (Loss) [Line Items]
Gain / (Loss) Recognized in Earnings		(2)
Commodity contracts \| Cost of sales
Derivative Instruments, Gain (Loss) [Line Items]
Gain / (Loss) Recognized in Earnings	38	17
Forecasted Purchases Hedges \| Foreign exchange contracts \| Cost of sales
Derivative Instruments, Gain (Loss) [Line Items]
Gain / (Loss) Recognized in Earnings	(10)	(12)
Forecasted transactions \| Foreign exchange contracts \| Interest And Other Expense
Derivative Instruments, Gain (Loss) [Line Items]
Gain / (Loss) Recognized in Earnings	(5)
Forecasted transactions \| Foreign exchange contracts \| Selling, general and administrative expenses
Derivative Instruments, Gain (Loss) [Line Items]
Gain / (Loss) Recognized in Earnings	(1)	(1)
Forecasted Interest Payments \| Intercompany loans \| Foreign exchange contracts \| Interest And Other Expense
Derivative Instruments, Gain (Loss) [Line Items]
Gain / (Loss) Recognized in Earnings	$ (2)	$ 20

Hedges of Net Investments in International Operations (Detail) (Net Investment Hedging, Currency Translation Adjustments, Foreign exchange contracts, USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Euro Notes
Derivative Instruments, Gain (Loss) [Line Items]
Gains / (losses) recognized in OCI	$ (5)	$ 20
Pound Sterling Notes
Derivative Instruments, Gain (Loss) [Line Items]
Gains / (losses) recognized in OCI	$ (4)	$ 44

Components of Net Pension Cost (Detail) (Pension Plans, USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
U.S. Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 15	$ 17
Interest cost	17	15
Expected return on plan assets	(20)	(17)
Net loss from experience differences	8	14
Prior service cost		1
Settlement losses	2	3
Net periodic benefit cost	22	33
Non-U.S. Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	44	43
Interest cost	97	89
Expected return on plan assets	(123)	(108)
Net loss from experience differences	27	35
Settlement losses	5
Net periodic benefit cost	$ 50	$ 59

Benefit Plans - Additional Information (Detail) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014
U.S. Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Employer contribution	$ 2
Estimated future employer contributions for remainder of the year	8
Non-U.S. Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Employer contribution	137
Estimated future employer contributions for remainder of the year	$ 172

Components of Net Postretirement Health Care Costs (Detail) (Postretirement Benefit Plans, USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Postretirement Benefit Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 3	$ 4
Interest cost	5	5
Net loss from experience differences	2	3
Prior service credit	(3)	(3)
Net periodic benefit cost	$ 7	$ 9

Components of Net Postemployment Costs (Detail) (Postemployment Benefit Plans, USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Postemployment Benefit Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 2	$ 2
Interest cost	2	1
Net periodic benefit cost	$ 4	$ 3

Stock Plans - Additional Information (Detail) (USD $) Share data in Millions, except Per Share data, unless otherwise specified	3 Months Ended	12 Months Ended	3 Months Ended	12 Months Ended	1 Months Ended	3 Months Ended	1 Months Ended		3 Months Ended	1 Months Ended	3 Months Ended
	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2014 Common Class A	Dec. 31, 2013 Common Class A	Dec. 03, 2013 Common Class A Accelerated Share Repurchases	Mar. 31, 2014 Restricted And Deferred Stock	Feb. 28, 2014 Annual Equity Program	Feb. 28, 2014 Annual Equity Program Restricted And Deferred Stock	Mar. 31, 2014 Off Cycle	Jan. 31, 2014 Long-Term Incentive Plan Restricted And Deferred Stock	Mar. 31, 2014 2011 Long-Term Incentive Plan Restricted And Deferred Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted to eligible employees	10.0						9.9		0.1
Stock options granted to eligible employees, exercise price	$ 34.17						$ 34.17		$ 34.44
Stock options granted to eligible employees, options exercised	2.5
Intrinsic value of stock options exercised	$ 33,100,000
Granted shares						3.8		2.0		1.2	0.6
Granted shares fair value, per share						$ 34.00		$ 34.17		$ 34.97	$ 31.63
Number of restricted and deferred shares of stock vested						3.8
Market value of vested restricted and deferred stock						131,400,000
Stock repurchase value				7,700,000,000
Number of shares repurchased			14.4		44.8
Cost of shares repurchased	492,000,000	2,900,000,000	492,000,000		1,500,000,000
Average cost of shares repurchased			$ 34.20
Stock repurchase remaining amount			4,500,000,000
Payments for shares repurchased	468,000,000		468,000,000		1,700,000,000
Additional paid in capital treasury stock					$ 200,000,000

Commitments and Contingencies - Additional Information (Detail) (Indian Department of Central Excise Authority, Cadbury, Maximum, USD $) In Millions, unless otherwise specified	1 Months Ended	11 Months Ended
	Feb. 28, 2013	Dec. 31, 2013
Indian Department of Central Excise Authority \| Cadbury \| Maximum
Loss Contingencies [Line Items]
Formal claim of notice presented for unpaid excise tax	$ 46	$ 20
Tax penalties and interest expense	$ 46	$ 20

Components of Accumulated Other Comprehensive Earnings / (Losses) (Detail) (USD $)
In Millions, unless otherwise specified

3 Months Ended

Mar. 31, 2014

Mar. 31, 2013

Currency translation adjustment

$ (2,889)

(217)

^[1]

Pension and other benefits

Losses / (gains) reclassified into net earnings

(56)

Total other comprehensive earnings / (losses)

(227)

Accumulated Other Comprehensive Income (Loss) [Line Items]

(3,116)

Derivatives Designated as Hedging Instruments

Accumulated Other Comprehensive Income (Loss) [Line Items]

(71)

Currency Translation Adjustments

Currency translation adjustment

(1,414)

(225)

^[1]

Accumulated Other Comprehensive Income (Loss) [Line Items]

(1,648)

Currency Translation Adjustments | Derivatives Designated as Hedging Instruments

Accumulated Other Comprehensive Income (Loss) [Line Items]

(15)

Pension and Other Benefits

Currency translation adjustment

(1,592)

^[1]

Pension and other benefits

Losses / (gains) reclassified into net earnings

(13)

Accumulated Other Comprehensive Income (Loss) [Line Items]

(1,550)

Derivatives Accounted for as Hedges

Losses / (gains) reclassified into net earnings

117

(2)

Accumulated Other Comprehensive Income (Loss) [Line Items]

Derivatives Accounted for as Hedges | Derivatives Designated as Hedging Instruments

$ (56)

[1]	The condensed consolidated statement of other comprehensive earnings for the three months ended March 31, 2014 includes $(1) million of currency translation adjustment attributable to noncontrolling interests.

Accumulated Other Comprehensive Income (Loss) [Line Items]

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

+ References+ Details

Components of Accumulated Other Comprehensive Earnings / (Losses) (Parenthetical) (Detail) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Currency translation adjustment attributable to noncontrolling interests	$ (1)

Amounts Reclassified from Accumulated Other Comprehensive Earnings (Losses) (Detail) (USD $)
In Millions, unless otherwise specified

3 Months Ended

Mar. 31, 2014

Mar. 31, 2013

Amortization of experience losses and prior service costs

$ 34

^[1]

$ 50

Settlement losses

^[1]

Derivatives accounted for as hedges, Reclassification of losses / (gains) included in net earnings

(23)

Total reclassifications into net earnings, net of tax

Provision for income taxes

Accumulated Other Comprehensive Income (Loss) [Line Items]

Tax impact

(13)

Tax impact

Foreign exchange contracts | Forecasted transactions | Cost of sales

Accumulated Other Comprehensive Income (Loss) [Line Items]

Derivatives accounted for as hedges, Reclassification of losses / (gains) included in net earnings

Commodity contracts | Cost of sales

Accumulated Other Comprehensive Income (Loss) [Line Items]

Derivatives accounted for as hedges, Reclassification of losses / (gains) included in net earnings

(7)

Interest rate contracts | Interest and other expense, net

Accumulated Other Comprehensive Income (Loss) [Line Items]

Derivatives accounted for as hedges, Reclassification of losses / (gains) included in net earnings

$ 3

[1]	These items are included in the components of net periodic benefit costs disclosed in Note 10, Benefit Plans.

Income Taxes - Additional Information (Detail) (USD $) In Millions, unless otherwise specified	3 Months Ended		12 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013	Dec. 31, 2014 Scenario, Forecast
Income Tax Contingency [Line Items]
Effective tax rate	(22.00%)	2.30%	20.00%	20.10%
Total favorable discrete items	$ 52	$ 94
Net favorable tax audit settlements and expirations of statutes of limitations	$ 51	$ 78

Basic and Diluted Earnings per Share (Detail) (USD $) In Millions, except Per Share data, unless otherwise specified	3 Months Ended		12 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Earnings Per Share [Line Items]
Net earnings	$ 150	$ 542	$ 3,935
Noncontrolling interest	(13)	6
Net earnings attributable to Mondelez International	$ 163	$ 536
Weighted-average shares for basic EPS	1,704	1,784
Plus incremental shares from assumed conversions of stock options and long-term incentive plan shares	18	14
Weighted-average shares for diluted EPS	1,722	1,798
Basic earnings per share attributable to Mondelez International	$ 0.10	$ 0.30
Diluted earnings per share attributable to Mondelez International	$ 0.09	$ 0.30

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References+ Details

+ References+ Details

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ Details

Earnings Per Share - Additional Information (Detail) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Mondelez International Stock options excluded from the calculation of diluted EPS	4.7	10.5