Benefit plan non-service income

3,843

3,312

3,462

^[1]

(60)

(50)

(44)

Interest and other expense, net

456

520

382

Earnings before income taxes

3,447

2,842

3,124

Provision for income taxes

(2)

(773)

(666)

Net (loss)/gain on equity method investment transactions

(2)

778

Noncontrolling interest earnings

442

548

344

Net earnings

3,885

3,395

2,842

(15)

(14)

Net earnings attributable to Mondelēz International

$ 3,870

$ 3,381

$ 2,828

Per share data:

Basic earnings per share attributable to Mondelēz International (in dollars per share)

$ 2.68

$ 2.30

$ 1.87

Diluted earnings per share attributable to Mondelēz International (in dollars per share)

$ 2.65

$ 2.28

$ 1.85

[1]

During the first quarter of 2018, in connection with adopting a new pension cost classification accounting standard, we reclassified certain of our benefit plan component costs other than service costs out of operating income into a new line item, benefit plan non-service income, on our consolidated statements of earnings. As such, we have recast our historical operating income and segment operating income to reflect this reclassification, which had no impact to earnings before income taxes or net earnings.

Consolidated Statements of Comprehensive Earnings - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement of Comprehensive Income [Abstract]
Net earnings	$ 3,885	$ 3,395	$ 2,842
Other comprehensive earnings/(losses), net of tax:
Currency translation adjustment	299	(865)	1,198
Pension and other benefit plans	116	284	(57)
Derivative cash flow hedges	(45)	(54)	8
Total other comprehensive earnings/(losses)	370	(635)	1,149
Comprehensive earnings	4,255	2,760	3,991
less: Comprehensive earnings/(losses) attributable to noncontrolling interests	13	12	42
Comprehensive earnings attributable to Mondelēz International	$ 4,242	$ 2,748	$ 3,949

Consolidated Balance Sheets, as of December 31 - USD ($)
$ in Millions

Dec. 31, 2019

Dec. 31, 2018

ASSETS

Cash and cash equivalents

$ 1,291

$ 1,100

Trade receivables (net of allowances of $35 at December 31, 2019 and $40 at December 31, 2018)

2,212

2,262

Other receivables (net of allowances of $44 at December 31, 2019 and $47 at December 31, 2018)

715

744

Inventories, net

2,546

2,592

Other current assets

866

906

Total current assets

7,630

7,604

Property, plant and equipment and right of use assets, net

8,733

Property, plant and equipment, net

8,482

Operating lease right of use assets

568

Goodwill

20,848

20,725

Intangible assets, net

17,957

18,002

Prepaid pension assets

516

132

Deferred income taxes

726

255

Equity method investments

^[1]

7,212

7,123

Other assets

359

406

TOTAL ASSETS

64,549

62,729

LIABILITIES

Short-term borrowings

2,638

3,192

Current portion of long-term debt

1,581

2,648

Accounts payable

5,853

5,794

Accrued marketing

1,836

1,756

Accrued employment costs

769

701

Other current liabilities

2,645

2,646

Total current liabilities

15,322

16,737

Long-term debt

14,207

12,532

Long-term operating lease liabilities

403

Deferred income taxes

3,338

3,552

Accrued pension costs

1,190

1,221

Accrued postretirement health care costs

387

351

Other liabilities

2,351

2,623

TOTAL LIABILITIES

37,198

37,016

Commitments and Contingencies

EQUITY

Common Stock, no par value (5,000,000,000 shares authorized and 1,996,537,778 shares issued at December 31, 2019 and December 31, 2018)

Additional paid-in capital

32,019

31,961

Retained earnings

26,653

24,491

Accumulated other comprehensive losses

(10,258)

(10,630)

Treasury stock, at cost (561,531,524 shares at December 31, 2019 and 545,537,923 shares at December 31, 2018)

(21,139)

(20,185)

Total Mondelēz International Shareholders’ Equity

27,275

25,637

Noncontrolling interest

TOTAL EQUITY

27,351

25,713

TOTAL LIABILITIES AND EQUITY

$ 64,549

$ 62,729

[1]	Includes a basis difference of approximately $330 million as of December 31, 2019 and $340 million as of December 31, 2018 between the U.S. GAAP accounting basis for our equity method investments and the U.S. GAAP accounting basis of our investees’ equity.

Consolidated Balance Sheets, as of December 31 (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Trade receivables, allowances	$ 35	$ 40
Other receivables, allowances	$ 44	$ 47
Common stock, no par value (in dollars per share)	$ 0	$ 0
Common stock, shares authorized (in shares)	5,000,000,000	5,000,000,000
Common stock, shares issued (in shares)	1,996,537,778	1,996,537,778
Treasury stock, at cost, shares (in shares)	561,531,524	545,537,923

Consolidated Statements of Equity - USD ($) $ in Millions	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Earnings/ (Losses)	Treasury Stock	Non-controlling Interest
Balance at beginning of period at Dec. 31, 2016	$ 25,195	$ 0	$ 31,847	$ 21,125	$ (11,118)	$ (16,713)	$ 54
Comprehensive earnings/(losses):
Net earnings	2,842			2,828			14
Other comprehensive earnings/ (losses), net of income taxes	1,149				1,121		28
Exercise of stock options and issuance of other stock awards	345		68	(83)		360
Common Stock repurchased	(2,202)					(2,202)
Cash dividends declared ( $1.09, $0.96 and $0.82 per share for 2019, 2018 and 2017, respectively)	(1,239)			(1,239)
Dividends paid on noncontrolling interest and other activities	(16)						(16)
Balance at end of period at Dec. 31, 2017	26,074	0	31,915	22,631	(9,997)	(18,555)	80
Comprehensive earnings/(losses):
Net earnings	3,395			3,381			14
Other comprehensive earnings/ (losses), net of income taxes	(635)				(633)		(2)
Exercise of stock options and issuance of other stock awards	292		46	(118)		364
Common Stock repurchased	(1,994)					(1,994)
Cash dividends declared ( $1.09, $0.96 and $0.82 per share for 2019, 2018 and 2017, respectively)	(1,409)			(1,409)
Dividends paid on noncontrolling interest and other activities	(10)			6			(16)
Balance at end of period at Dec. 31, 2018	25,713	0	31,961	24,491	(10,630)	(20,185)	76
Comprehensive earnings/(losses):
Net earnings	3,885			3,870			15
Other comprehensive earnings/ (losses), net of income taxes	370				372		(2)
Exercise of stock options and issuance of other stock awards	471		58	(132)		545
Common Stock repurchased	(1,499)					(1,499)
Cash dividends declared ( $1.09, $0.96 and $0.82 per share for 2019, 2018 and 2017, respectively)	(1,576)			(1,576)
Dividends paid on noncontrolling interest and other activities	(13)						(13)
Balance at end of period at Dec. 31, 2019	$ 27,351	$ 0	$ 32,019	$ 26,653	$ (10,258)	$ (21,139)	$ 76

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

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Summary of Significant Accounting Policies

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
CASH PROVIDED BY/(USED IN) OPERATING ACTIVITIES
Net earnings	$ 3,885	$ 3,395	$ 2,842
Adjustments to reconcile net earnings to operating cash flows:
Depreciation and amortization	1,047	811	816
Stock-based compensation expense	135	128	137
U.S. tax reform transition tax/(benefit)	5	(38)	1,317
Deferred income tax (benefit)/provision	(631)	233	(1,228)
Asset impairments and accelerated depreciation	109	141	334
Loss on early extinguishment of debt	0	140	11
Net gain on divestitures	(44)	0	(186)
Net loss/(gain) on equity method investment transactions	2	(778)	(40)
Equity method investment net earnings	(442)	(548)	(344)
Distributions from equity method investments	250	180	152
Other non-cash items, net	97	381	(225)
Change in assets and liabilities, net of acquisitions and divestitures:
Receivables, net	124	257	(24)
Inventories, net	31	(204)	(18)
Accounts payable	4	236	5
Other current assets	(77)	(25)	14
Other current liabilities	(362)	(136)	(637)
Change in pension and postretirement assets and liabilities, net	(168)	(225)	(333)
Net cash provided by operating activities	3,965	3,948	2,593
CASH PROVIDED BY/(USED IN) INVESTING ACTIVITIES
Capital expenditures	(925)	(1,095)	(1,014)
Acquisitions, net of cash received	(284)	(528)	0
Proceeds from divestitures, net of disbursements	167	1	604
Proceeds from sale of property, plant and equipment and other	82	398	109
Net cash used in investing activities	(960)	(1,224)	(301)
CASH PROVIDED BY/(USED IN) FINANCING ACTIVITIES
Issuances of commercial paper, maturities greater than 90 days	1,306	3,981	1,808
Repayments of commercial paper, maturities greater than 90 days	(2,367)	(2,856)	(1,911)
Net issuances/(repayments) of other short-term borrowings	524	(1,413)	1,027
Long-term debt proceeds	3,136	2,948	350
Long-term debt repayments	(2,677)	(1,821)	(1,470)
Repurchases of Common Stock	(1,480)	(2,020)	(2,174)
Dividends paid	(1,542)	(1,359)	(1,198)
Other	313	211	207
Net cash used in financing activities	(2,787)	(2,329)	(3,361)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	10	(56)	89
Cash, cash equivalents and restricted cash:
Increase/(decrease)	228	339	(980)
Balance at beginning of period	1,100	761	1,741
Balance at end of period	1,328	1,100	761
Cash paid:
Interest	486	491	398
Income taxes	$ 981	$ 864	$ 848

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Note 1. Summary of Significant Accounting Policies

Description of Business:

Mondelēz International, Inc. was incorporated in 2000 in the Commonwealth of Virginia. Mondelēz International, Inc., through its subsidiaries (collectively “Mondelēz International,” “we,” “us” and “our”), sells food and beverage products to consumers in over 150 countries.

Principles of Consolidation:

The consolidated financial statements include Mondelēz International, Inc. as well as our wholly owned and majority owned subsidiaries, except our Venezuelan subsidiaries which were deconsolidated in 2015. All intercompany transactions are eliminated. The noncontrolling interest represents the noncontrolling investors’ interests in the results of subsidiaries that we control and consolidate. We account for investments over which we exercise significant influence under the equity method of accounting. Investments over which we do not have significant influence or control are not material and are carried at cost as there is no readily determinable fair value for the equity interests. Under the cost method of accounting, earnings are recognized to the extent cash is received.

Use of Estimates:

We prepare our consolidated financial statements in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”), which require us to make estimates and assumptions that affect a number of amounts in our consolidated financial statements. Significant accounting policy elections, estimates and assumptions include, among others, pension and benefit plan assumptions, valuation assumptions of goodwill and intangible assets, useful lives of long-lived assets, restructuring program liabilities, marketing program accruals, insurance and self-insurance reserves and income taxes. We base our estimates on historical experience and other assumptions that we believe are reasonable. If actual amounts differ from estimates, we include the revisions in our consolidated results of operations in the period the actual amounts become known. Historically, the aggregate differences, if any, between our estimates and actual amounts in any year have not had a material effect on our consolidated financial statements.

Our operations and management structure are organized into four operating segments:


•	Latin America


•	AMEA


•	Europe


•	North America

See Note 18, Segment Reporting, for additional information on our segments.

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 (except for highly inflationary currencies) and realized exchange gains and losses on transactions in earnings.

Highly inflationary accounting is triggered when a country’s three-year cumulative inflation rate exceeds 100%. It requires the remeasurement of financial statements of subsidiaries in the country, from the functional currency of the subsidiary to our U.S. dollar reporting currency, with currency remeasurement gains or losses recorded in earnings. As discussed below, beginning on July 1, 2018, we began to apply highly inflationary accounting for our operations in Argentina.

Argentina. During the second quarter of 2018, primarily based on published estimates which indicated that Argentina's three-year cumulative inflation rate exceeded 100%, we concluded that Argentina became a highly inflationary economy for accounting purposes. As of July 1, 2018, we began to apply highly inflationary accounting for our Argentinean subsidiaries and changed their functional currency from the Argentinean peso to the U.S. dollar. On July 1, 2018, both monetary and non-monetary assets and liabilities denominated in Argentinean pesos were remeasured into U.S. dollars using the exchange rate as of the balance sheet date, with remeasurement and other transaction gains and losses recorded in net earnings. As of December 31, 2019, our Argentinean operations had less than $1 million of Argentinean peso denominated net monetary liabilities. Our Argentinean operations contributed $382 million, or 1.5% of consolidated net revenues in 2019. We recorded a remeasurement gain of

$4 million in 2019 and a remeasurement loss of $11 million in 2018 within selling, general and administrative expenses related to the revaluation of the Argentinean peso denominated net monetary position over these periods.

Brexit. In 2019, we generated 8.6% of our net revenues in the United Kingdom. On January 31, 2020, the United Kingdom began the withdrawal process from the European Union under the European and U.K. Parliament approved Withdrawal Agreement. During a transition period currently scheduled to end on December 31, 2020, the United Kingdom will effectively remain in the E.U.’s customs union and single market while a trade deal with the European Union is negotiated. The deadline for extending the transition period ends on June 30, 2020. If the transition period is not extended, on December 31, 2020, the United Kingdom will either exit the European Union without a trade deal or will begin a new trade relationship with the European Union. During the transition period, we continue to take protective measures in response to the potential impacts on our results of operations and financial condition. Following the Brexit vote in June 2016, there was significant volatility in the global stock markets and currency exchange rates. The value of the British pound sterling relative to the U.S. dollar declined significantly and negatively affected our translated results reported in U.S. dollars. If the ultimate terms of the United Kingdom’s separation from the European Union negatively impact the U.K. economy or result in disruptions to sales or our supply chain, the impact to our results of operations and financial condition could be material. We have taken measures to increase our resources in customer service & logistics together with increasing our inventory levels of imported raw materials, packaging and finished goods in the United Kingdom to help us manage through the Brexit transition and the inherent risks.

Other Countries. Since we sell our products in over 150 countries and have operations in approximately 80 countries, we monitor economic and currency-related risks and seek to take protective measures in response to these exposures. Some of the countries in which we do business have recently experienced periods of significant economic uncertainty and exchange rate volatility, including Brazil, China, Mexico, Russia, Ukraine, Turkey, Egypt, Nigeria, South Africa and Pakistan. We continue to monitor operations, currencies and net monetary exposures in these countries. At this time, we do not anticipate that these countries are at risk of becoming highly inflationary economies.

Cash, Cash Equivalents and Restricted Cash:

Cash and cash equivalents include demand deposits with banks and all highly liquid investments with original maturities of three months or less. As of December 31, 2019, we also had $37 million of restricted cash recorded within other current assets. Total cash, cash equivalents and restricted cash was $1,328 million as of December 31, 2019.

Transfers of Financial Assets:

We account for transfers of financial assets, such as uncommitted revolving non-recourse accounts receivable factoring arrangements, when we have surrendered control over the related assets. Determining whether control has transferred requires an evaluation of relevant legal considerations, an assessment of the nature and extent of our continuing involvement with the assets transferred and any other relevant considerations. We use receivable factoring arrangements periodically when circumstances are favorable to manage liquidity. We have nonrecourse factoring arrangements in which we sell eligible trade receivables primarily to banks in exchange for cash. We may then continue to collect the receivables sold, acting solely as a collecting agent on behalf of the banks. The outstanding principal amount of receivables under these arrangements amounted to $760 million as of December 31, 2019, $819 million as of December 31, 2018 and $843 million as of December 31, 2017. The incremental costs of factoring receivables under this arrangement were approximately $10 million or less in each of the years presented. The proceeds from the sales of receivables are included in cash from operating activities in the consolidated statements of cash flows.

Inventories:

We record our inventory using the average cost method and record inventory allowances for overstock and obsolete inventory.

Long-Lived Assets:

Property, plant and equipment are stated at historical cost and depreciated by the straight-line method over the estimated useful lives of the assets. Machinery and equipment are depreciated over periods ranging from 3 to 20 years and buildings and building improvements over periods up to 40 years.

We review long-lived assets, including amortizable intangible assets, for realizability on an ongoing basis. Changes in depreciation, generally accelerated depreciation, are determined and recorded when estimates of the remaining

useful lives or residual values of long-term assets change. We also review for impairment when conditions exist that indicate the carrying amount of the assets may not be fully recoverable. In those circumstances, we perform undiscounted operating cash flow analyses to determine if an impairment exists. When testing for asset impairment, we group assets and liabilities at the lowest level for which cash flows are separately identifiable. Any impairment loss is calculated as the excess of the asset’s carrying value over its estimated fair value. Fair value is estimated based on the discounted cash flows for the asset group over the remaining useful life or based on the expected cash proceeds for the asset less costs of disposal. Any significant impairment losses would be recorded within asset impairment and exit costs in the consolidated statements of earnings.

Leases:

We determine whether a contract is or contains a lease at contract inception. On January 1, 2019, we began to record operating leases on our consolidated balance sheet. We elected not to recognize right-of-use ("ROU") assets and lease liabilities for short-term operating leases with terms of 12 months or less. Long-term operating lease ROU assets and long-term operating lease liabilities are presented separately and operating lease liabilities payable in the next twelve months are recorded in other current liabilities. Finance lease ROU assets continue to be presented in property, plant and equipment and the related finance lease liabilities continue to be presented in the current portion of long-term debt and long-term debt.

Lease ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. ROU assets are recognized at commencement date at the value of the lease liability, adjusted for any prepayments, lease incentives received and initial direct costs incurred. Lease liabilities are recognized at commencement date based on the present value of remaining lease payments over the lease term. The non-recurring fair value measurement is classified as Level 3 as no fair value inputs are observable. As the rate implicit in the lease is not readily determinable in most of our leases, we use our country-specific incremental borrowing rate based on the lease term using information available at commencement date in determining the present value of lease payments. Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Many of our leases contain non-lease components (e.g. product costs, common-area or other maintenance costs) that relate to the lease components of the agreement. Non-lease components and the lease components to which they relate are accounted for as a single lease component as we have elected to combine lease and non-lease components for all classes of underlying assets.

Amortization of ROU lease assets is calculated on a straight-line basis over the lease term with the expense recorded in cost of sales or selling, general and administrative expenses depending on the nature of the leased item. Interest expense is recorded over the lease term and is recorded in interest expense (based on a front-loaded interest expense pattern) for finance leases and is recorded in cost of sales or selling, general and administrative expenses (on a straight-line basis) for operating leases. All operating lease cash payments and interest on finance leases are recorded within cash flows from operating activities and all finance lease principal payments are recorded within cash flows from financing activities in the consolidated statements of cash flows.

Software Costs:

We capitalize certain computer software and software development costs incurred in connection with developing or obtaining computer software for internal use. Capitalized software costs are included in property, plant and equipment and amortized on a straight-line basis over the estimated useful lives of the software, which do not exceed seven years.

Goodwill and Non-Amortizable Intangible Assets:

We test goodwill and non-amortizable intangible assets for impairment on an annual basis on July 1. We assess goodwill impairment risk throughout the year by performing a qualitative review of entity-specific, industry, market and general economic factors affecting our goodwill reporting units. We review our operating segment and reporting unit structure for goodwill testing annually or as significant changes in the organization occur. Annually, we may perform qualitative testing, or depending on factors such as prior-year test results, current year developments, current risk evaluations and other practical considerations, we may elect to do quantitative testing instead. In our quantitative testing, we compare a reporting unit’s estimated fair value with its carrying value. We estimate a reporting unit’s fair value using a discounted cash flow method that incorporates planned growth rates, market-based discount rates and estimates of residual value. This year, for our Europe and North America reporting units, we used a market-based, weighted-average cost of capital of 5.9% to discount the projected cash flows of those operations. For our Latin America and AMEA reporting units, we used a risk-rated discount rate of 8.9%. Estimating the fair value of individual reporting units requires us to make assumptions and estimates regarding our future

plans, industry and economic conditions, and our actual results and conditions may differ over time. If the carrying value of a reporting unit’s net assets exceeds its fair value, we would recognize an impairment charge for the amount by which the carrying value exceeds the reporting unit’s fair value.

Annually we assess non-amortizable intangible assets for impairment by performing a qualitative review and assessing events and circumstances that could affect the fair value or carrying value of the indefinite-lived intangible assets. If significant potential impairment risk exists for a specific asset, we quantitatively test it for impairment by comparing its estimated fair value with its carrying value. We determine estimated fair value using estimates of future sales, earnings growth rates, royalty rates and discount rates. If the carrying value of the asset exceeds its fair value, we consider the asset impaired and reduce its carrying value to the estimated fair value. We amortize definite-lived intangible assets over their estimated useful lives and evaluate them for impairment as we do other long-lived assets.

Insurance and Self-Insurance:

We use a combination of insurance and self-insurance for a number of risks, including workers’ compensation, general liability, automobile liability, product liability and our obligation for employee healthcare benefits. We estimate the liabilities associated with these risks on an undiscounted basis by evaluating and making judgments about historical claims experience and other actuarial assumptions and the estimated impact on future results.

Revenue Recognition:

We predominantly sell food and beverage products across several product categories and in all regions as disclosed in Note 18, Segment Reporting. We recognize revenue when control over the products transfers to our customers, which generally occurs upon delivery or shipment of the products. A small percentage of our net revenues relates to the licensing of our intellectual property, predominantly brand and trade names, and we record these revenues when earned within the period of the license term. We account for product shipping, handling and insurance as fulfillment activities with revenues for these activities recorded within net revenue and costs recorded within cost of sales. Any taxes collected on behalf of government authorities are excluded from net revenues.

Revenues are recorded net of trade and sales incentives and estimated product returns. Known or expected pricing or revenue adjustments, such as trade discounts, rebates or returns, are estimated at the time of sale. We base these estimates of expected amounts principally on historical utilization and redemption rates. Estimates that affect revenue, such as trade incentives and product returns, are monitored and adjusted each period until the incentives or product returns are realized.

Key sales terms, such as pricing and quantities ordered, are established on a frequent basis such that most customer arrangements and related incentives have a one year or shorter duration. As such, we do not capitalize contract inception costs and we capitalize product fulfillment costs in accordance with U.S. GAAP and our inventory policies. We generally do not have any unbilled receivables at the end of a period. Deferred revenues are not material and primarily include customer advance payments typically collected a few days before product delivery, at which time deferred revenues are reclassified and recorded as net revenues. We generally do not receive noncash consideration for the sale of goods nor do we grant payment financing terms greater than one year.

Marketing, Advertising and Research and Development:

We promote our products with marketing and advertising programs. These programs include, but are not limited to, cooperative advertising, in-store displays and consumer marketing promotions. For interim reporting purposes, advertising, consumer promotion and marketing research expenses are charged to operations as a percentage of volume, based on estimated sales volume and estimated program spending. We do not defer costs on our year-end consolidated balance sheet and all marketing and advertising costs are recorded as an expense in the year incurred. Advertising expense was $1,208 million in 2019, $1,173 million in 2018 and $1,248 million in 2017. We expense product research and development costs as incurred. Research and development expense was $351 million in 2019, $362 million in 2018 and $366 million in 2017. We record marketing and advertising as well as research and development expenses within selling, general and administrative expenses.

Stock-based Compensation:

Stock-based compensation awarded to employees and non-employee directors is valued at fair value on the grant date. We record stock-based compensation expense over the vesting period, generally three years. Forfeitures are estimated on the grant date for all of our stock-based compensation awards.

Employee Benefit Plans:

We provide a range of benefits to our current and retired employees including pension benefits, defined contribution plan benefits, postretirement health care benefits and postemployment primarily severance-related benefits depending upon local statutory requirements, employee tenure and service requirements as well as other factors. The cost for these plans is recognized in earnings primarily over the working life of the covered employee.

Financial Instruments:

We use financial instruments to manage our currency exchange rate, commodity price and interest rate risks. We monitor and manage these exposures as part of our overall risk management program, which focuses on the unpredictability of financial markets and seeks to reduce the potentially adverse effects that the volatility of these markets may have on our operating results. A principal objective of our risk management strategies is to reduce significant, unanticipated earnings fluctuations that may arise from volatility in currency exchange rates, commodity prices and interest rates, principally through the use of derivative instruments.

We use a combination of primarily currency forward contracts, futures, options and swaps; commodity forward contracts, futures and options; and interest rate swaps to manage our exposure to cash flow variability, protect the value of our existing currency assets and liabilities and protect the value of our debt. See Note 10, Financial Instruments, for more information on the types of derivative instruments we use.

We record derivative financial instruments on a gross basis and at fair value in our consolidated balance sheets within other current assets or other current liabilities due to their relatively short-term duration. Cash flows related to the settlement of derivative instruments designated as net investment hedges of foreign operations are classified in the consolidated statements of cash flows within investing activities. All other cash flows related to derivative instruments that are designated, and those that are economic hedges, are classified in the same line item as the cash flows of the related hedged item, which is generally within operating activities. Cash flows related to the settlement of all other free-standing derivative instruments are classified within investing activities. Changes in the fair value of a derivative that is designated as a cash flow hedge, to the extent that the hedge is effective, are recorded in accumulated other comprehensive earnings/(losses) and reclassified to earnings when the hedged item affects earnings. Changes in fair value of economic hedges and the ineffective portion of all hedges are recognized in current period earnings. Changes in the fair value of a derivative that is designated as a fair value hedge, along with the changes in the fair value of the related hedged asset or liability, are recorded in earnings in the same period. We use non-U.S. dollar denominated debt to hedge a portion of our net investment in non-U.S. operations against adverse movements in exchange rates. Currency movements related to our non-U.S. debt and our net investments in non-U.S. operations, as well as the related deferred taxes, are recorded within currency translation adjustment in accumulated other comprehensive earnings/(losses).

In order to qualify for hedge accounting, a specified level of hedging effectiveness between the derivative instrument and the item being hedged must exist at inception and throughout the hedged period. We must also formally document the nature of and relationship between the derivative and the hedged item, as well as our risk management objectives, strategies for undertaking the hedge transaction and method of assessing hedge effectiveness. Additionally, for a hedge of a forecasted transaction, the significant characteristics and expected term of the forecasted transaction must be specifically identified, and it must be probable that the forecasted transaction will occur. If it is no longer probable that the hedged forecasted transaction will occur, we would recognize the gain or loss related to the derivative in earnings.

When we use derivatives, we are exposed to credit and market risks. Credit risk exists when a counterparty to a derivative contract might fail to fulfill its performance obligations under the contract. We reduce our credit risk by entering into transactions with counterparties with high quality, investment grade credit ratings, limiting the amount of exposure with each counterparty and monitoring the financial condition of our counterparties. We also maintain a policy of requiring that all significant, non-exchange traded derivative contracts with a duration of one year or longer are governed by an International Swaps and Derivatives Association master agreement. Market risk exists when the value of a derivative or other financial instrument might be adversely affected by changes in market conditions and commodity prices, currency exchange rates or interest rates. We manage derivative market risk by limiting the types of derivative instruments and derivative strategies we use and the degree of market risk that we plan to hedge through the use of derivative instruments.

Commodity derivatives. We are exposed to price risk related to forecasted purchases of certain commodities that we primarily use as raw materials. We enter into commodity forward contracts primarily for wheat, sugar and other sweeteners, soybean and vegetable oils and cocoa. Commodity forward contracts generally are not subject to the

accounting requirements for derivative instruments and hedging activities under the normal purchases exception. We also use commodity futures and options to hedge the price of certain input costs, including cocoa, energy costs, sugar and other sweeteners, wheat, packaging, dairy, corn, and soybean and vegetable oils. We also sell commodity futures to unprice future purchase commitments, and we occasionally use related futures to cross-hedge a commodity exposure. We are not a party to leveraged derivatives and, by policy, do not use financial instruments for speculative purposes.

Currency exchange derivatives. We use various financial instruments to mitigate our exposure to changes in exchange rates from third-party and intercompany current and forecasted transactions. These instruments may include currency exchange forward contracts, futures, options and swaps. Based on the size and location of our businesses, we use these instruments to hedge our exposure to certain currencies, including the euro, pound sterling, Swiss franc, Canadian dollar and Mexican peso. Any unrealized gains or losses (mark-to-market impacts) and realized gains or losses are recorded in earnings (see Note 10, Financial Instruments, for additional information).

Interest rate cash flow and fair value hedges. We manage interest rate volatility by modifying the pricing or maturity characteristics of certain liabilities so that the net impact on expense is not, on a material basis, adversely affected by movements in interest rates. As a result of interest rate fluctuations, hedged fixed-rate liabilities appreciate or depreciate in market value. We expect the effect of this unrealized appreciation or depreciation to be substantially offset by our gains or losses on the derivative instruments that are linked to these hedged liabilities. We use derivative instruments, including interest rate swaps that have indices related to the pricing of specific liabilities as part of our interest rate risk management strategy. As a matter of policy, we do not use highly leveraged derivative instruments for interest rate risk management. We use interest rate swaps to economically convert a portion of our fixed-rate debt into variable-rate debt. Under the interest rate swap contracts, we agree with other parties to exchange, at specified intervals, the difference between fixed-rate and floating-rate interest amounts, which is calculated based on an agreed-upon notional amount. We use interest rate swaps to hedge the variability of interest payment cash flows on a portion of our future debt obligations. We also execute cross-currency interest rate swaps to hedge interest payments on newly issued debt denominated in a different currency than the functional currency of the borrowing entity. Substantially all of these derivative instruments are highly effective and qualify for hedge accounting treatment.

Hedges of net investments in non-U.S. operations. We have numerous investments outside the United States. The net assets of these subsidiaries are exposed to changes and volatility in currency exchange rates. We use local currency denominated debt to hedge our non-U.S. net investments against adverse movements in exchange rates. We designated our euro, pound sterling, Swiss franc and Canadian dollar-denominated borrowings as a net investment hedge of a portion of our overall international operations. The gains and losses on our net investment in these designated international operations are economically offset by losses and gains on our euro, pound sterling, Swiss franc and Canadian dollar-denominated borrowings. The change in the debt’s value, net of deferred taxes, is recorded in the currency translation adjustment component of accumulated other comprehensive earnings/(losses).

Additionally, beginning in the first quarter of 2018, we entered into cross-currency interest rate swaps and forwards to hedge certain investments in our non-U.S. operations against movements in exchange rates. The after-tax gain/(loss) on these net investment hedge contracts is recorded in the cumulative translation adjustment section of other comprehensive income and the pre-tax impacts of the cash flows from these contracts are reported as other investing activities in the consolidated statement of cash flows.

Income Taxes:

Our provision for income taxes includes amounts payable or refundable for the current year, the effects of deferred taxes and impacts from uncertain tax positions. We recognize deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the financial statement and tax basis of our assets and liabilities, operating loss carryforwards and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply in the years in which those differences are expected to reverse.

The realization of certain deferred tax assets is dependent on generating sufficient taxable income in the appropriate jurisdiction prior to the expiration of the carryforward periods. Deferred tax assets are reduced by a valuation allowance if it is more likely than not that some portion, or all, of the deferred tax assets will not be realized. When assessing the need for a valuation allowance, we consider any carryback potential, future reversals of existing taxable temporary differences (including liabilities for unrecognized tax benefits), future taxable income and tax planning strategies.

We recognize tax benefits in our financial statements from uncertain tax positions only if it is more likely than not that the tax position will be sustained based on the technical merits of the position. The amount we recognize is measured as the largest amount of benefit that is greater than 50 percent likely of being realized upon resolution. Future changes related to the expected resolution of uncertain tax positions could affect tax expense in the period when the change occurs.

We monitor for changes in tax laws and reflect the impacts of tax law changes in the period of enactment. When there is refinement to tax law changes in subsequent periods, we account for the new guidance in the period when it becomes known.

New Accounting Pronouncements:

In December 2019, the Financial Accounting Standards Board ("FASB") issued an Accounting Standards Update ("ASU") that removes certain exceptions in accounting for income taxes, improves consistency in application and clarifies existing guidance. This ASU is effective for fiscal years beginning after December 15, 2020, with early adoption permitted. We do not expect this ASU to have a material impact on our consolidated financial statements.

In October 2018, the FASB issued an ASU that permits the use of the Secured Overnight Financing Rate ("SOFR") Overnight Index Swap ("OIS") Rate as a U.S. benchmark interest rate for hedge accounting purposes. We adopted the new standard on January 1, 2019 and there was no material impact to our consolidated financial statements upon adoption.

In August 2018, the FASB issued an ASU that aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs for internal-use software. This ASU is effective for fiscal years beginning after December 15, 2019, with early adoption permitted. We will adopt this ASU as of January 1, 2020 and we do not expect this ASU to have a material impact on our consolidated financial statements.

In August 2018, the FASB issued an ASU that modifies the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. The ASU is effective for fiscal years ending after December 15, 2020, with early adoption permitted. We will adopt this ASU as of December 31, 2020. The new standard will impact our year-end disclosures only and is not expected to have an impact on our consolidated financial statements.

In August 2018, the FASB issued an ASU that modifies the disclosure requirements on fair value measurements. The ASU is effective for fiscal years beginning after December 15, 2019, with early adoption permitted. We will adopt this ASU as of January 1, 2020. The new standard will impact our disclosures and is not expected to have an impact on our consolidated financial statements.

In June 2018, the FASB issued an ASU that requires entities to record share-based payment transactions for acquiring goods and services from non-employees at fair value as of adoption date. The ASU is effective for fiscal years beginning after December 15, 2018, with early adoption permitted. We adopted the standard as of January 1, 2019 and there was no material impact to our consolidated financial statements upon adoption.

In February 2018, the FASB issued an ASU that permits entities to elect a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the 2017 enactment of U.S. tax reform legislation. The ASU is effective for fiscal years beginning after December 15, 2018, with early adoption permitted. We did not elect to reclassify these stranded tax effects from U.S. tax reform when we adopted this ASU in the first quarter of 2019. As such, this ASU did not have a material impact on our consolidated financial statements. Our policy is to release stranded tax effects from accumulated other comprehensive income under the portfolio method rather than on an individual item by item basis.

In July 2017, the FASB issued an ASU on financial instruments that allows for the exclusion of a down round feature when evaluating whether or not the instrument or embedded feature requires derivative classification. The ASU is effective for fiscal years beginning after December 15, 2018, with early adoption permitted. We adopted the standard as of January 1, 2019 and there was no material impact to our consolidated financial statements upon adoption.

In June 2016, the FASB issued an ASU on the measurement of credit losses on financial instruments. This ASU requires entities to measure the impairment of certain financial instruments, including trade receivables, based on

expected losses rather than incurred losses. This ASU is effective for fiscal years beginning after December 15, 2019, with early adoption permitted for financial statement periods beginning after December 15, 2018. We will adopt this ASU as of January 1, 2020 and we do not expect this ASU to have a material impact on our consolidated financial statements.

In February 2016, the FASB issued an ASU on lease accounting to increase transparency and comparability among organizations by requiring the recognition of Right of Use ("ROU") assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. The ASU revises existing U.S. GAAP and outlines a new model for lessors and lessees to use in accounting for lease contracts. The guidance requires lessees to recognize a ROU asset and a lease liability on the balance sheet for all leases, with the exception of short-term leases. In the statement of earnings, lessees will classify leases as either operating or financing. In July 2018, the FASB issued an ASU which allows for an alternative transition approach, which will not require adjustments to comparative prior-period amounts. The ASU is effective for fiscal years beginning after December 15, 2018, with early adoption permitted. We adopted the new standard on January 1, 2019. We elected to apply the package of practical expedients that allowed us not to reassess the lease classification and initial direct costs for expired or existing leases or whether expired or existing contracts contain leases. We elected not to separate non-lease components from lease components and to account for both as a single lease component by class of the underlying asset. The impact of adopting the standard included the initial recognition as of January 1, 2019, of $710 million of lease related assets and $730 million of lease related liabilities on our consolidated balance sheet. The transition method we elected for adoption a cumulative effect adjustment to retained earnings as of January 1, 2019, which was not material.

Divestitures and Acquisitions	12 Months Ended
Divestitures and Acquisitions	Dec. 31, 2019
Business Combinations [Abstract]
Divestitures and Acquisitions	Note 2. Divestitures and Acquisitions On July 16, 2019, we acquired a majority interest in a U.S. refrigerated nutrition bar company, Perfect Snacks, within our North America segment for $284 million cash paid, net of cash received, and expanded our position in broader snacking. We are working to complete the valuation work and have recorded a preliminary purchase price allocation of $31 million to definite-lived intangible assets, $107 million to indefinite-lived intangible assets, $150 million to goodwill, $1 million to property, plant and equipment, $12 million to inventory, $8 million to accounts receivable, $13 million to current liabilities, $3 million to deferred tax liabilities and $9 million to other liabilities. The acquisition added incremental net revenues of $53 million and an immaterial amount of incremental operating income in 2019. On May 28, 2019, we completed the sale of most of our cheese business in the Middle East and Africa to Arla Foods of Denmark. In 2019, we received cash proceeds of $161 million and divested $19 million of current assets and $96 million of non-current assets. We also paid $2 million of transaction costs and recorded a net pre-tax gain of $44 million on the sale. On June 7, 2018, we acquired a U.S. premium biscuit company, Tate’s Bake Shop, within our North America segment and extended our premium biscuit offering. During the second quarter of 2018, we paid $528 million, net of cash received, and during the second quarter of 2019, we finalized the purchase price at $527 million. The purchase price allocation included $45 million to definite-lived intangible assets, $205 million to indefinite-lived intangible assets, $297 million to goodwill, $16 million to property, plant and equipment, $5 million to inventory, $9 million to accounts receivable, $7 million to current liabilities and $43 million to deferred tax liabilities. Through the one-year anniversary of the acquisition, Tate's added incremental net revenues of $35 million and an immaterial amount of incremental operating income. On December 28, 2017, we completed the sale of a confectionery business in Japan. We received cash proceeds of ¥2.8 billion ($24 million as of December 28, 2017) and recorded an immaterial pre-tax loss on the divestiture within our AMEA segment. In connection with the 2012 spin-off of Kraft Foods Group, Inc. (now a part of The Kraft Heinz Company (“KHC”)), Kraft Foods Group and we each granted the other various licenses to use certain trademarks in connection with particular product categories in specified jurisdictions. On August 17, 2017, we entered into two agreements with KHC to terminate the licenses of certain KHC-owned brands used in our grocery business within our Europe region and to transfer to KHC inventory and certain other assets. On August 17, 2017, the first transaction closed and we received cash proceeds of €9 million ($11 million as of August 17, 2017) and on October 23, 2017, the second transaction closed and we received cash proceeds of €2 million ($3 million as of October 23, 2017). The gain on both transactions combined was immaterial. On July 4, 2017, we completed the sale of most of our grocery business in Australia and New Zealand to Bega Cheese Limited for $456 million Australian dollars ($347 million as of July 4, 2017). We divested $27 million of current assets, $135 million of non-current assets and $4 million of current liabilities based on the July 4, 2017 exchange rate. We recorded a pre-tax gain of $247 million Australian dollars ($187 million as of July 4, 2017) on the sale. We also recorded divestiture-related costs of $2 million and a foreign currency hedge loss of $3 million during 2017. In the fourth quarter of 2017, we recorded a $3 million inventory-related working capital adjustment, increasing the pre-tax gain to $190 million in 2017. On April 28, 2017, we completed the sale of several manufacturing facilities in France and the sale or license of several local confectionery brands. We received cash of approximately €157 million ($169 million as of April 28, 2017), net of cash divested with the businesses. On April 28, 2017, we divested $44 million of current assets, $155 million of non-current assets, $8 million of current liabilities and $22 million of non-current liabilities based on the April 28, 2017 exchange rate. We recorded a $3 million loss on the sale and divestiture-related costs of $27 million in 2017 and $84 million in 2016. These divestiture-related costs were recorded within cost of sales and selling, general and administrative expenses primarily within our Europe segment. In prior periods, we recorded a $5 million impairment charge in May 2016 for a candy trademark to reduce the overall net assets to the estimated net sales proceeds after transaction costs. On March 31, 2016, we recorded a $14 million impairment charge for another gum & candy trademark as a portion of its carrying value would not be recoverable based on future cash flows expected under a planned license agreement with the buyer.

Leases

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Leases, Operating

Note 5. Leases

We have operating and finance leases for manufacturing and distribution facilities, vehicles, equipment and office space. Our leases have remaining lease terms of 1 to 10 years, some of which include options to extend the leases for up to 6 years. We assume the majority of our termination options will not be exercised when determining the lease term of our leases. We do not include significant restrictions or covenants in our lease agreements, and residual value guarantees are generally not included within our operating leases, with the exception of some fleet leases. Some of our leasing arrangements require variable payments that are dependent on usage or output or may vary for other reasons, such as product costs, insurance and tax payments. These variable payment leases are not included in our recorded lease assets and liabilities and are expensed as incurred. Certain leases are tied to a variable index or rate and are included in our lease assets and liabilities based on the indices or rates as of lease commencement.

The components of lease costs were as follows:



	For the Year Ended December 31, 2019
	(in millions)
Operating lease cost	$	222

Finance lease cost:
Amortization of right-of-use assets	29
Interest on lease liabilities	4

Short-term lease cost	39
Variable lease cost	474

Sublease income	(6		)

Total lease cost	$	762

Rent expenses under prior lease accounting rules (ASC 840) recorded in continuing operations were $260 million in 2018 and $284 million in 2017.

Supplemental cash flow information related to leases was as follows:



	For the Year Ended December 31, 2019
	(in millions)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	(234	)
Operating cash flows from finance leases	(4		)
Financing cash flows from finance leases	(27		)

Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	95
Finance leases	99

Supplemental balance sheet information related to leases was as follows:



	As of December 31, 2019
	(in millions)
Operating Leases:
Operating lease right-of-use assets, net of amortization	$	568

Other current liabilities	$	178
Long-term operating lease liabilities	403
Total operating lease liabilities	$	581

Finance Leases:
Finance leases, net of amortization (within property, plant & equipment)	$	122

Current portion of long-term debt	$	32
Long-term debt	91
Total finance lease liabilities	$	123

Weighted Average Remaining Lease Term
Operating leases	5.2 years
Finance leases	4.6 years

Weighted Average Discount Rate
Operating leases	3.5		%
Finance leases	3.7		%

In 2020, we expect to record a $45 million operating lease liability for a 15 year lease that has not yet commenced.

Future lease payments under non-cancelable leases under the new lease accounting rules (ASC 842) that went into effect on January 1, 2019 were as follows:



	As of December 31, 2019
	Operating Leases			Finance Leases
	(in millions)
Year Ending December 31:
2020	$	197		$	38
2021	146			34
2022	102			23
2023	68			15
2024	42			9
Thereafter	97			15
Total future undiscounted lease payments	$	652		$	134
Less imputed interest	(71		)	(11		)
Total reported lease liability	$	581		$	123

As of December 31, 2018, minimum rental commitments under non-cancelable operating leases under prior lease accounting rules (ASC 840) were (in millions):



2019		2020		2021		2022		2023		Thereafter		Total
$	208	$	165	$	114	$	79	$	57	$	157	$	780

Leases, Finance

Note 5. Leases

The components of lease costs were as follows:



	For the Year Ended December 31, 2019
	(in millions)
Operating lease cost	$	222

Finance lease cost:
Amortization of right-of-use assets	29
Interest on lease liabilities	4

Short-term lease cost	39
Variable lease cost	474

Sublease income	(6		)

Total lease cost	$	762

Rent expenses under prior lease accounting rules (ASC 840) recorded in continuing operations were $260 million in 2018 and $284 million in 2017.

Supplemental cash flow information related to leases was as follows:



	For the Year Ended December 31, 2019
	(in millions)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	(234	)
Operating cash flows from finance leases	(4		)
Financing cash flows from finance leases	(27		)

Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	95
Finance leases	99

Supplemental balance sheet information related to leases was as follows:



	As of December 31, 2019
	(in millions)
Operating Leases:
Operating lease right-of-use assets, net of amortization	$	568

Other current liabilities	$	178
Long-term operating lease liabilities	403
Total operating lease liabilities	$	581

Finance Leases:
Finance leases, net of amortization (within property, plant & equipment)	$	122

Current portion of long-term debt	$	32
Long-term debt	91
Total finance lease liabilities	$	123

Weighted Average Remaining Lease Term
Operating leases	5.2 years
Finance leases	4.6 years

Weighted Average Discount Rate
Operating leases	3.5		%
Finance leases	3.7		%

In 2020, we expect to record a $45 million operating lease liability for a 15 year lease that has not yet commenced.

Future lease payments under non-cancelable leases under the new lease accounting rules (ASC 842) that went into effect on January 1, 2019 were as follows:



	As of December 31, 2019
	Operating Leases			Finance Leases
	(in millions)
Year Ending December 31:
2020	$	197		$	38
2021	146			34
2022	102			23
2023	68			15
2024	42			9
Thereafter	97			15
Total future undiscounted lease payments	$	652		$	134
Less imputed interest	(71		)	(11		)
Total reported lease liability	$	581		$	123

As of December 31, 2018, minimum rental commitments under non-cancelable operating leases under prior lease accounting rules (ASC 840) were (in millions):



2019		2020		2021		2022		2023		Thereafter		Total
$	208	$	165	$	114	$	79	$	57	$	157	$	780

Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Note 6. Goodwill and Intangible Assets

Goodwill by operating segment was:



	As of December 31,
	2019		2018
	(in millions)
Latin America	$	818	$	823
AMEA	3,151		3,210
Europe	7,523		7,519
North America	9,356		9,173
Goodwill	$	20,848	$	20,725

Intangible assets consisted of the following:



	As of December 31,
	2019			2018
	(in millions)
Non-amortizable intangible assets	$	17,296		$	17,201
Amortizable intangible assets	2,374			2,328
	19,670			19,529
Accumulated amortization	(1,713		)	(1,527		)
Intangible assets, net	$	17,957		$	18,002

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.

Amortization expense for intangible assets was $174 million in 2019, $176 million in 2018 and $178 million in 2017. For the next five years, we estimate annual amortization expense of approximately $175 million next year, approximately $90 million in year two and approximately $85 million in years three to five, reflecting December 31, 2019 exchange rates.

Changes in goodwill and intangible assets consisted of:



	2019						2018
	Goodwill			Intangible Assets, at cost			Goodwill			Intangible Assets, at cost
	(in millions)
Balance at January 1	$	20,725		$	19,529		$	21,085		$	20,057
Changes due to:
Currency	17			60			(658		)	(710		)
Divestitures	(43		)	—			—			—
Acquisitions	149			138			298			250
Asset impairments	—			(57		)	—			(68		)
Balance at December 31	$	20,848		$	19,670		$	20,725		$	19,529

Changes to goodwill and intangibles were:


•	Divestitures – During the second quarter of 2019, we divested the net assets of most of our cheese business in the Middle East and Africa to Arla Foods of Denmark resulting in a goodwill decrease of $43 million. See Note 2, Divestitures and Acquisitions, for additional information.

•

Acquisitions – In connection with the acquisition of a majority interest in Perfect Snacks during the third quarter of 2019, we recorded a preliminary purchase price allocation of $150 million to goodwill and $138 million to intangible assets. In the second quarter of 2019, we also finalized the purchase price allocation for the 2018 acquisition of Tate's Bake Shop, resulting in a $1 million adjustment to goodwill. During 2018, we recorded a preliminary purchase price allocation of $298 million to goodwill and $250 million to intangible assets related to the acquisition of Tate's Bake Shop in the second quarter of 2018. See Note 2, Divestitures and Acquisitions, for additional information.


•	Asset impairments – As further discussed below, we recorded $57 million of intangible asset impairments in 2019 and $68 million in 2018.

In 2019, 2018 and 2017, there were no goodwill impairments and each of our reporting units had sufficient fair value in excess of its carrying value. While all reporting units passed our annual impairment testing, if planned business performance expectations are not met or specific valuation factors outside of our control, such as discount rates, change significantly, then the estimated fair values of a reporting unit or reporting units might decline and lead to a goodwill impairment in the future.

During our 2019 annual testing of non-amortizable intangible assets, we recorded $57 million of impairment charges in the third quarter related to nine brands. We recorded charges related to gum, chocolate, biscuits and candy brands of $39 million in Europe, $15 million in AMEA and $3 million in Latin America. We also identified fourteen brands, including the nine impaired trademarks, with $635 million of aggregate book value as of December 31, 2019 that each had a fair value in excess of book value of 10% or less. We believe our current plans for each of these brands will allow them to not be impaired, but if the brand earnings expectations are not met or specific valuation factors outside of our control, such as discount rates, change significantly, then a brand or brands could become impaired in the future. In 2018, we recorded $68 million of impairment charges for gum, chocolate, biscuits and candy brands of $45 million in Europe, $14 million in North America and $9 million in AMEA. In 2017, we recorded $109 million of impairment charges, of which $70 million related to annual testing impairment charges for candy and gum brands of $52 million in AMEA, $11 million in Europe, $5 million in Latin America and $2 million in North America. During 2017, we also recorded a $38 million intangible asset impairment charge resulting from a category decline and lower than expected product growth related to a gum brand in our North America segment and a $1 million intangible asset impairment charge related to a transaction.

Equity Method Investments

12 Months Ended

Dec. 31, 2019

Equity Method Investments and Joint Ventures [Abstract]

Equity Method Investments

Note 7. Equity Method Investments

Our investments accounted for under the equity method of accounting totaled $7,212 million as of December 31, 2019 and $7,123 million as of December 31, 2018. In both years, our largest equity method investments were in Jacobs Douwe Egberts (“JDE”) and Keurig Green Mountain, Inc. ("Keurig") prior to July 9, 2018 and Keurig Dr Pepper Inc. (NYSE: "KDP”) subsequent to July 9, 2018.

JDE:

As of December 31, 2019, we held a 26.5% voting interest, a 26.4% ownership interest and a 26.3% profit and dividend sharing interest in JDE. We recorded JDE equity earnings of $195 million in 2019, $230 million in 2018 (which includes a deferred tax benefit from a Dutch tax rate reduction) and $129 million in 2017. We also recorded $73 million of cash dividends received in both 2019 and 2018 and $49 million of cash dividends received in 2017.

JDE / Keurig Exchange:

On March 7, 2016, we exchanged a portion of our JDE equity interest for a new equity interest in Keurig. As a result of the exchange, we recorded the difference between the $2.0 billion fair value of Keurig and our basis in the exchanged JDE shares as a gain of $43 million. In the second quarter of 2019, we determined an adjustment to accumulated other comprehensive losses related to our JDE investment was required, which reduced our previously reported gain by $29 million. We recorded the adjustment as a loss on equity method transactions.

Keurig Dr Pepper Transaction:

On July 9, 2018, Keurig closed on its definitive merger agreement with Dr Pepper Snapple Group, Inc., and formed KDP, a publicly traded company. Following the close of the transaction, our 24.2% investment in Keurig together with our shareholder loan receivable became a 13.8% investment in KDP. During 2018, we recorded a net pre-tax gain of $778 million (or $586 million after-tax).

We hold two director positions on the KDP board as well as additional governance rights. As we continue to have significant influence, we continue to account for our investment in KDP under the equity method, resulting in recognizing our share of their earnings within our earnings and our share of their dividends within our cash flows.

In connection with this transaction, we changed our accounting principle during the third quarter of 2018 to reflect our share of Keurig's historical and KDP's ongoing earnings on a one-quarter lag basis while we continue to record dividends when cash is received. We determined a lag was preferable as it enables us to continue to report our quarterly and annual results on a timely basis and to record our share of KDP’s ongoing results once KDP has publicly reported its results. The change was retrospectively applied to all prior periods presented.

As of December 31, 2019, we held a 13.6% ownership interest in KDP valued at approximately $5.5 billion (based on KDP's closing stock price), which exceeded the carrying value of our KDP investment. Our KDP ownership interest could change over time due to stock-based compensation arrangements or other KDP transactions. During the first quarter of 2019, due to the impact of a KDP acquisition that decreased our ownership interest from 13.8% to 13.6%, we recognized a $23 million pre-tax gain.

Keurig and KDP equity earnings, as adjusted for the one-quarter lag basis, totaled $160 million in 2019, $213 million in 2018 (includes a deferred tax benefit Keurig recorded as a result of U.S. tax reform) and $92 million in 2017. Within equity method investment net earnings, we also recorded shareholder loan interest income of $12 million in 2018 and $24 million in 2017. We received shareholder loan interest payments of $12 million in 2018 and $30 million in 2017 and dividends of $115 million in 2019, $34 million in 2018 and $14 million in 2017.

Other Equity Method Investment transactions:

On October 2, 2017, we completed the sale of one of our equity method investments and received cash proceeds of $65 million. We recorded a pre-tax gain of $40 million within the gain on equity method investment transactions and $15 million of tax expense. During the second quarter of 2019, we recorded an additional pre-tax gain of $4 million related to the sale and release of indemnity-related funds previously held in escrow that were released.

Summary Financial Information for Equity Method Investments:

Summarized financial information related to our equity method investments is reflected below.



	As of December 31,
	2019		2018
	(in millions)
Current assets	$	5,650	$	5,695
Noncurrent assets	69,232		69,445
Total assets	$	74,882	$	75,140
Current liabilities	$	10,037	$	9,434
Noncurrent liabilities	27,642		29,296
Total liabilities	$	37,679	$	38,730
Equity attributable to shareowners of investees	$	37,170	$	36,365
Equity attributable to noncontrolling interests	33		46
Total net equity of investees	$	37,203	$	36,411
Mondelēz International ownership interests	13-50%		13-50%
Equity method investments ⁽¹⁾	$	7,212	$	7,123



	For the Years Ended December 31,
	2019		2018		2017
	(in millions)
Net revenues	$	19,410	$	14,185	$	12,824
Gross profit	9,733		6,076		4,913
Income from continuing operations	1,991		1,980		1,118
Net income	1,991		1,980		1,118
Net income attributable to investees	$	1,981	$	1,970	$	1,115
Mondelēz International ownership interests	13-50%		13-50%		24-50%
Mondelēz International share of investee net income	$	442	$	536	$	320
Keurig shareholder loan interest income	—		12		24
Equity method investment net earnings	$	442	$	548	$	344


(1)	Includes a basis difference of approximately $330 million as of December 31, 2019 and $340 million as of December 31, 2018 between the U.S. GAAP accounting basis for our equity method investments and the U.S. GAAP accounting basis of our investees’ equity.

Restructuring Program

12 Months Ended

Dec. 31, 2019

Restructuring and Related Activities [Abstract]

Restructuring Program

Note 8. Restructuring Program

On May 6, 2014, our Board of Directors approved a $3.5 billion 2014-2018 restructuring program and up to $2.2 billion of capital expenditures. On August 31, 2016, our Board of Directors approved a $600 million reallocation between restructuring program cash costs and capital expenditures so the $5.7 billion program consisted of approximately $4.1 billion of restructuring program costs ($3.1 billion cash costs and $1.0 billion non-cash costs) and up to $1.6 billion of capital expenditures. On September 6, 2018, our Board of Directors approved an extension of the restructuring program through 2022, an increase of $1.3 billion in the program charges and an increase of $700 million in capital expenditures. The total $7.7 billion program now consists of $5.4 billion of program charges ($4.1 billion of cash costs and $1.3 billion of non-cash costs) and total capital expenditures of $2.3 billion to be incurred over the life of the program. The current restructuring program, as increased and extended by these actions, is now called the Simplify to Grow Program.

The primary objective of the Simplify to Grow Program is to reduce our operating cost structure in both our supply chain and overhead costs. The program covers severance as well as asset disposals and other manufacturing and procurement-related one-time costs. Since inception, we have incurred total restructuring and related implementation charges of $4.3 billion related to the Simplify to Grow Program. We expect to incur the program charges by year-end 2022.

Restructuring Costs:

The Simplify to Grow Program liability activity for the years ended December 31, 2019 and 2018 was:



	Severance and related costs			Asset Write-downs			Total
	(in millions)
Liability Balance, January 1, 2018	$	464		$	—		$	464
Charges ⁽¹⁾	253			63			316
Cash spent	(310		)	—			(310		)
Non-cash settlements/adjustments	(4		)	(63		)	(67		)
Currency	(30		)	—			(30		)
Liability Balance, December 31, 2018	$	373		$	—		$	373
Charges ⁽¹⁾	125			51			176
Cash spent	(162		)	—			(162		)
Non-cash settlements/adjustments ⁽²⁾	(31		)	(51		)	(82		)
Currency	(4		)	—			(4		)
Liability Balance, December 31, 2019	$	301		$	—		$	301


(1)	Includes settlement losses of $5 million in 2019 and $5 million in 2018 recorded within benefit plan non-service income on our consolidated statements of earnings.


(2)	We adopted the new lease accounting ASU as of January 1, 2019. The ASU requires recording onerous lease liabilities netted with right of use assets. Therefore, during the first quarter of 2019, we reclassified onerous lease liabilities that totaled $23 million as of March 31, 2019, from accrued liabilities and other accrued liabilities to operating lease right of use assets.

We recorded restructuring charges of $176 million in 2019, $316 million in 2018 and $535 million in 2017 within asset impairment and exit costs and benefit plan non-service income. We spent $162 million in 2019 and $310 million in 2018 in cash severance and related costs. We also recognized non-cash pension settlement losses (See Note 11, Benefit Plans), non-cash asset write-downs (including accelerated depreciation and asset impairments) and other non-cash adjustments (including a transfer of onerous lease liabilities to operating lease ROU assets during the first quarter of 2019) totaling $82 million in 2019 and $67 million in 2018. At December 31, 2019, $275 million of our net restructuring liability was recorded within other current liabilities and $26 million was recorded within other long-term 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. We believe the disclosure of implementation costs provides readers of our financial statements with more information on the total costs of our Simplify to Grow Program. Implementation costs primarily relate to reorganizing our operations and facilities in connection with our supply chain reinvention program and other identified productivity and cost saving initiatives. The costs include incremental expenses related to the closure of facilities, costs to terminate certain contracts and the simplification of our information systems. Within our continuing results of operations, we recorded implementation costs of $272 million in 2019, $315 million in 2018 and $257 million in 2017. We recorded these costs within cost of sales and general corporate expense within selling, general and administrative expenses.

Restructuring and Implementation Costs in Operating Income:

During 2019, 2018 and 2017, and since inception of the Simplify to Grow Program, we recorded the following restructuring and implementation costs within segment operating income and earnings before income taxes:



	Latin America		AMEA		Europe		North America⁽¹⁾		Corporate⁽²⁾		Total
	(in millions)
For the Year Ended December 31, 2019
Restructuring Costs	$	24	$	18	$	105	$	16	$	13	$	176
Implementation Costs	50		38		103		52		29		272
Total	$	74	$	56	$	208	$	68	$	42	$	448
For the Year Ended December 31, 2018
Restructuring Costs	$	63	$	69	$	132	$	32	$	20	$	316
Implementation Costs	67		39		73		79		57		315
Total	$	130	$	108	$	205	$	111	$	77	$	631
For the Year Ended December 31, 2017
Restructuring Costs	$	93	$	140	$	195	$	84	$	23	$	535
Implementation Costs	43		43		68		58		45		257
Total	$	136	$	183	$	263	$	142	$	68	$	792
Total Project ⁽³⁾
Restructuring Costs	$	517	$	535	$	1,076	$	469	$	129	$	2,726
Implementation Costs	269		206		448		384		307		1,614
Total	$	786	$	741	$	1,524	$	853	$	436	$	4,340


(1)	During 2017-2019, our North America region implementation costs included incremental costs that we incurred related to renegotiating collective bargaining agreements that expired in February 2016 for eight U.S. facilities and related to executing business continuity plans for the North America business.


(2)	Benefit plan non-service income amounts associated with restructuring program activities that are no longer recorded in segment operating income are included in the Corporate column in the table above for all periods presented. The Corporate column also includes minor adjustments for pension settlement losses and rounding.

(3)

Includes all charges recorded since program inception on May 6, 2014 through December 31, 2019.

Debt and Borrowing Arrangements

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Debt and Borrowing Arrangements

Note 9. Debt and Borrowing Arrangements

Short-Term Borrowings:

Our short-term borrowings and related weighted-average interest rates consisted of:



	As of December 31,
	2019				2018
	Amount Outstanding		Weighted- Average Rate		Amount Outstanding		Weighted- Average Rate
	(in millions)				(in millions)
Commercial paper	$	2,581	2.0	%	$	3,054	2.9	%
Bank loans	57		5.2	%	138		10.5	%
Total short-term borrowings	$	2,638			$	3,192

As of December 31, 2019, commercial paper issued and outstanding had between 2 and 52 days remaining to maturity. Commercial paper borrowings decreased since the 2018 year-end primarily as a result of repayments from operating cash flow and proceeds from long-term debt issuances net of repayments, partially offset by increased borrowings for shareholder dividends and share repurchases.

Some of our international subsidiaries maintain primarily uncommitted credit lines to meet short-term working capital needs. Collectively, these credit lines amounted to $1.7 billion at December 31, 2019 and at December 31, 2018. Borrowings on these lines were $57 million at December 31, 2019 and $138 million at December 31, 2018.

Borrowing Arrangements:

On September 13, 2019, Mondelez International Holdings Netherlands B.V. ("MIHN"), a wholly owned Dutch subsidiary of Mondelēz International, Inc., entered into a term loan agreement pursuant to which MIHN may incur up to $500 million of term loans with a three-year term and $500 million of term loans with a five-year term. Proceeds from the term loan may be used for general corporate purposes, including repayment of debt. On October 25, 2019, we fully drew on the term loans and received proceeds of $1.0 billion. We also entered into cross-currency swaps, serving as cash flow hedges, so that the U.S. dollar-denominated debt payments will effectively be paid in euros over the life of the debt.

On February 27, 2019, to supplement our commercial paper program, we entered into a $1.5 billion revolving credit agreement for a 364-day senior unsecured credit facility that is scheduled to expire on February 26, 2020. The agreement replaces our previous credit agreement that matured on February 27, 2019 and includes the same terms and conditions as our existing $4.5 billion multi-year credit facility discussed below. As of December 31, 2019, no amounts were drawn on the facility.

On February 27, 2019, we entered into a $4.5 billion multi-year senior unsecured revolving credit facility for general corporate purposes, including working capital needs, and to support our commercial paper program. This agreement replaced our $4.5 billion amended and restated five-year revolving credit agreement, dated as of October 14, 2016. The revolving credit agreement is scheduled to expire on February 27, 2024. 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), the cumulative effects of any changes in accounting principles and earnings/(losses) recognized in connection with the ongoing application of any mark-to-market accounting for pensions and other retirement plans. At December 31, 2019, we complied with this covenant as our shareholders' equity, as defined by the covenant, was $37.5 billion. The revolving credit facility 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 December 31, 2019, no amounts were drawn on the facility.

On April 2, 2018, in connection with the tender offer described below, we entered into a $2.0 billion revolving credit agreement for a 364-day senior unsecured credit facility that was due to expire on April 1, 2019. The agreement included the same terms and conditions as our existing $4.5 billion multi-year credit facility discussed above. On April 17, 2018, we borrowed $714 million on this facility to fund the debt tender described below and availability under the facility was reduced to match the borrowed amount. On May 7, 2018, we repaid the $714 million from the net proceeds received from the May 2018 $2.5 billion long-term debt issuance and terminated this credit facility.

Long-Term Debt:

Our long-term debt consisted of (interest rates are as of December 31, 2019):



	As of December 31,
	2019			2018
	(in millions)
U.S. dollar notes, 0.163% to 7.000% (weighted-average effective rate 3.107%), due through 2048	$	9,442		$	9,492
Euro notes, 0.875% to 2.375% (weighted-average effective rate 1.696%), due through 2035	3,968			3,492
Pound sterling notes, 3.875% to 4.500% (weighted-average effective rate 4.151%), due through 2045	346			333
Swiss franc notes, 0.050% to 1.125% (weighted-average effective rate 0.703%), due through 2025	1,449			1,424
Canadian dollar notes, 3.250% (effective rate 3.320%), due through 2025	460			437
Finance leases and other obligations	123			2
Total	15,788			15,180
Less current portion of long-term debt	(1,581		)	(2,648		)
Long-term debt	$	14,207		$	12,532

Deferred debt issuance costs of $33 million as of December 31, 2019 and $32 million as of December 31, 2018 are netted against the related debt in the table above. Deferred financing costs related to our revolving credit facility are classified in long-term other assets and were immaterial for all periods presented.

As of December 31, 2019, aggregate maturities of our debt and finance leases based on stated contractual maturities, excluding unamortized non-cash bond premiums, discounts, bank fees and mark-to-market adjustments of $(76) million and imputed interest on finance leases of $(11) million, were (in millions):



2020	2021	2022	2023	2024	Thereafter	Total
$1,587	$3,356	$1,739	$1,824	$1,834	$5,535	$15,875

On October 28, 2019, $1.75 billion of our 1.625% MIHN notes and $500 million of floating rate MIHN notes matured. The notes and accrued interest to date were paid with the term loans drawn on October 25, 2019 and U.S. dollar-denominated notes issued by MIHN on September 19, 2019.

On October 2, 2019, MIHN issued €500 million of 0.875% euro-denominated notes guaranteed by Mondelēz International, Inc. that mature on October 1, 2031. We received €491 million (or $538 million) of proceeds, net of discounts and associated financing costs of $11 million, which will be amortized into interest expense over the life of the loans. The proceeds were earmarked for general corporate purposes, including repayment of debt.

On September 19, 2019, MIHN issued $1.0 billion of U.S. dollar-denominated notes guaranteed by Mondelēz International, Inc. and consisting of $500 million 2.125% notes that mature on September 19, 2022 and $500 million 2.25% notes that mature on September 19, 2024. We received $997 million of proceeds, net of discounts and associated financing costs. The proceeds were earmarked for general corporate purposes, including repayment of debt. We recorded approximately $4 million of deferred financing costs and discounts, which will be amortized into interest expense over the life of the notes. In connection with this debt issuance, we entered into cross-currency swaps, serving as cash flow hedges, so that the U.S. dollar-denominated debt payments will effectively be paid in euros over the life of the debt.

On February 13, 2019, we issued $600 million of 3.625% U.S. dollar-denominated notes that are scheduled to mature February 13, 2026. We received $595 million of net proceeds that were used to repay outstanding commercial paper borrowings and other debt. We recorded approximately $5 million of discounts and deferred financing costs, which will be amortized into interest expense over the life of the notes.

On February 1, 2019, $400 million of our U.S. dollar variable rate notes matured. The notes and accrued interest to date were paid with the issuance of commercial paper and cash on hand.

On August 23, 2018, $280 million of our 6.125% U.S. dollar notes matured. The notes and accrued interest to date were paid with the issuance of commercial paper and cash on hand.

On July 18, 2018, £76 million (or $99 million) of our 7.25% pound sterling notes matured. The notes and accrued interest to date were paid with the issuance of commercial paper and cash on hand.

On May 3, 2018, we issued $2.5 billion of U.S. dollar-denominated, fixed-rate notes consisting of:


•	$750 million of 3.000% notes that mature in May 2020


•	$750 million of 3.625% notes that mature in May 2023


•	$700 million of 4.125% notes that mature in May 2028


•	$300 million of 4.625% notes that mature in May 2048

On May 7, 2018, we received net proceeds of $2.48 billion that were used to repay amounts outstanding under our revolving credit agreement facility and for other general corporate purposes, including the repayment of outstanding commercial paper borrowings and other debt. We recorded approximately $22 million of discounts and deferred financing costs net of various fees associated for the bond transaction and underwriter fee reimbursement, which will be amortized into interest expense over the life of the notes.

On April 17, 2018, we completed a cash tender offer and retired $570 million of the long-term U.S. dollar debt consisting of:


•	$241 million of our 6.500% notes due in February 2040


•	$97.6 million of our 5.375% notes due in February 2020


•	$75.8 million of our 6.500% notes due in November 2031


•	$72.1 million of our 6.875% notes due in February 2038


•	$42.6 million of our 6.125% notes due in August 2018


•	$29.3 million of our 6.875% notes due in January 2039


•	$11.7 million of our 7.000% notes due in August 2037

We financed the repurchase of the notes, including the payment of accrued interest and other costs incurred, from the $2.0 billion revolving credit agreement entered into on April 2, 2018. We recorded a loss on debt extinguishment of $140 million within interest and other expense, net related to the amount we paid to retire the debt in excess of its carrying value and from recognizing unamortized discounts, deferred financing and other cash costs in earnings at the time of the debt extinguishment. Cash costs related to tendering the debt are included in long-term debt repayments in the consolidated statement of cash flows for 2018.

On March 2, 2018, we launched an offering of C$600 million of 3.250% Canadian-dollar denominated notes that mature on March 7, 2025. On March 7, 2018, we received C$595 million (or $461 million) of proceeds, net of discounts and underwriting fees, to be used for general corporate purposes. We recorded approximately $4 million of discounts and deferred financing costs, which will be amortized into interest expense over the life of the notes.

On February 1, 2018, $478 million of our 6.125% U.S. dollar notes matured. The notes and accrued interest to date were paid with the issuance of commercial paper and cash on hand.

On January 26, 2018, fr.250 million (or $260 million) of our 0.080% Swiss franc notes matured. The notes and accrued interest to date were paid with the issuance of commercial paper and cash on hand.

Our weighted-average interest rate on our total debt was 2.2% as of December 31, 2019, 2.3% as of December 31, 2018 and 2.1% as of December 31, 2017.

Fair Value of Our Debt:

The fair value of our short-term borrowings at December 31, 2019 and December 31, 2018 reflects current market interest rates and approximates the amounts we have recorded on our consolidated balance sheets. 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 December 31, 2019, the aggregate fair value of our total debt was $19,388 million and its carrying value was $18,426 million. At December 31, 2018, the aggregate fair value of our total debt was $18,650 million and its carrying value was $18,372 million.

Interest and Other Expense, net:

Interest and other expense, net within our results of continuing operations consisted of:



	For the Years Ended December 31,
	2019			2018			2017
	(in millions)
Interest expense, debt	$	484		$	462		$	396
Loss on debt extinguishment and related expenses	—			140			11
Loss/(gain) related to interest rate swaps	111			(10		)	—
Other (income)/expense, net	(139		)	(72		)	(25		)
Interest and other expense, net	$	456		$	520		$	382

See Note 10, Financial Instruments, for information on the gain/loss related to U.S. dollar interest rate swaps no longer designated as accounting cash flow hedges during 2019 and 2018 and for information on amounts in other income related to our net investment hedge derivative contracts and the amounts excluded from hedge effectiveness of $133 million in 2019 and $120 million in 2018. See Note 14, Commitments and Contingencies, for information on the $59 million of other income recorded in 2017 in connection with the resolution of a Brazilian indirect tax matter and the reversal of related accrued interest.

Financial Instruments

12 Months Ended

Dec. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Financial Instruments

Note 10. Financial Instruments

Fair Value of Derivative Instruments:

Derivative instruments were recorded at fair value in the consolidated balance sheets as follows:



	As of December 31,
	2019				2018
	Asset Derivatives		Liability Derivatives		Asset Derivatives		Liability Derivatives
	(in millions)
Derivatives designated as accounting hedges:
Interest rate contracts	$	19	$	190	$	17	$	355
Net investment hedge derivative contracts ⁽¹⁾	312		65		337		28
	$	331	$	255	$	354	$	383
Derivatives not designated as accounting hedges:
Currency exchange contracts	$	67	$	50	$	72	$	37
Commodity contracts	201		120		191		210
	$	268	$	170	$	263	$	247
Total fair value	$	599	$	425	$	617	$	630

(1)

Net investment hedge contracts consist of cross-currency interest rate swaps and forward contracts. We also designate some of our non-U.S. dollar denominated debt to hedge a portion of our net investments in our non-U.S. operations. This debt is not reflected in the table above, but is included in long-term debt discussed in Note 9, Debt and Borrowing Arrangements. Both net investment hedge derivative contracts and non-U.S. dollar denominated debt acting as net investment hedges are also disclosed in the Derivative Volume table and the Hedges of Net Investments in International Operations section appearing later in this footnote.

Derivatives designated as accounting hedges above include cash flow and net investment hedge derivative contracts. Our currency exchange and commodity derivative contracts are economic hedges that are not designated as accounting hedges. We record derivative assets and liabilities on a gross basis on our consolidated balance sheets. 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.

The fair values (asset/(liability)) of our derivative instruments were determined using:



	As of December 31, 2019
	Total Fair Value of Net Asset/(Liability)			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
	(in millions)
Currency exchange contracts	$	17		$	—	$	17		$	—
Commodity contracts	81			27		54			—
Interest rate contracts	(171		)	—		(171		)	—
Net investment hedge contracts	247			—		247			—
Total derivatives	$	174		$	27	$	147		$	—



	As of December 31, 2018
	Total Fair Value of Net Asset/(Liability)			Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
	(in millions)
Currency exchange contracts	$	35		$	—		$	35		$	—
Commodity contracts	(19		)	(1		)	(18		)	—
Interest rate contracts	(338		)	—			(338		)	—
Net investment hedge contracts	309			—			309			—
Total derivatives	$	(13	)	$	(1	)	$	(12	)	$	—

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.

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 agreements and other standard industry contracts. Under these agreements, we do not post nor require collateral from our counterparties. The majority of our derivative contracts do not have a legal right of set-off. 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 gross notional values of our derivative instruments were:



	Notional Amount
	As of December 31,
	2019		2018
	(in millions)
Currency exchange contracts:
Intercompany loans and forecasted interest payments	$	2,474	$	3,239
Forecasted transactions	3,993		2,396
Commodity contracts⁽¹⁾	7,238		6,706
Interest rate contracts	5,250		8,679
Net investment hedges:
Net investment hedge derivative contracts	6,864		6,678
Non-U.S. dollar debt designated as net investment hedges
Euro notes	3,436		3,514
British pound sterling notes	349		336
Swiss franc notes	1,448		1,424
Canadian dollar notes	462		440


(1)	During the fourth quarter of 2019, we changed how we report our commodity contract notional values from a net to a gross basis in line with how we report our other instruments. We have recast 2018 to be consistent with current year presentation.

Cash Flow Hedges:

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



	For the Years Ended December 31,
	2019			2018			2017
	(in millions)
Accumulated (loss)/gain at beginning of period	$	(167	)	$	(113	)	$	(121	)
Transfer of realized (gains)/losses in fair value to earnings	154			(9		)	27
Unrealized gain/(loss) in fair value	(199		)	(45		)	(19		)
Accumulated (loss)/gain at end of period	$	(212	)	$	(167	)	$	(113	)

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



	For the Years Ended December 31,
	2019			2018		2017
	(in millions)
Currency exchange contracts – forecasted transactions	$	—		$	—	$	(3	)
Commodity contracts	—			—		(24		)
Interest rate contracts	(154		)	9		—
Total	$	(154	)	$	9	$	(27	)

Within interest and other expense, net, we recognized a loss of $111 million in 2019 and a gain of $10 million in 2018 related to certain forward-starting interest rate swaps for which the planned timing and currency of the related forecasted debt was changed. During the second quarter of 2019, we also recognized a loss of $12 million related to the net loss on equity method investment transactions noted in Note 7, Equity Method Investments - JDE / Keurig Exchange.

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



	For the Years Ended December 31,
	2019			2018			2017
	(in millions)
Currency exchange contracts – forecasted transactions	$	3		$	—		$	(38	)
Commodity contracts	—			—			7
Interest rate contracts	(202		)	(45		)	12
Total	$	(199	)	$	(45	)	$	(19	)

Cash flow hedge ineffectiveness was 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 currency exchange contracts related to forecasted transactions;


•	cost of sales for commodity contracts; 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 losses of $15 million (net of taxes) for interest rate cash flow hedges to earnings during the next 12 months.

Cash Flow Hedge Coverage:

As of December 31, 2019, our longest dated cash flow hedges were interest rate swaps that hedge forecasted interest rate payments over the next 4 years and 9 months.

Hedges of Net Investments in International Operations:

Net investment hedge ("NIH") derivative contracts:

We enter into cross-currency interest rate swaps and forwards to hedge certain investments in our non-U.S. operations against movements in exchange rates. As of December 31, 2019, the aggregate notional value of these NIH derivative contracts was $6.9 billion and their impact on other comprehensive earnings and net earnings during the years presented below were as follows:



	For the Years Ended December 31,
	2019			2018		2017
	(in millions)
After-tax gain/(loss) on NIH contracts⁽¹⁾	$	(6	)	$	191	$	—


(1)	Amounts recorded for unsettled and settled NIH derivative contracts are recorded in the cumulative translation adjustment within other comprehensive earnings. The cash flows from the settled contracts are reported within other investing activities in the consolidated statement of cash flows.



	For the Years Ended December 31,
	2019		2018		2017
	(in millions)
Amounts excluded from the assessment of hedge effectiveness⁽¹⁾	$	133	$	120	$	—


(1)	We elected to record changes in the fair value of amounts excluded from the assessment of effectiveness in net earnings within interest and other expense, net.

Non-U.S. dollar debt designated as net investment hedges:

After-tax gains/(losses) related to hedges of net investments in international operations in the form of euro, British pound sterling, Swiss franc and Canadian dollar-denominated debt were recorded within the cumulative translation adjustment section of other comprehensive income and were:



	For the Years Ended December 31,
	2019			2018		2017
	(in millions)
Euro notes	$	60		$	126	$	(323	)
British pound sterling notes	(10		)	19		(26		)
Swiss franc notes	(19		)	7		(49		)
Canadian notes	(17		)	17		—

Economic Hedges:

Pre-tax gains/(losses) recorded in net earnings for economic hedges were:



	For the Years Ended December 31,									Recognized in Earnings
	2019			2018			2017			Recognized in Earnings
	(in millions)
Currency exchange contracts:
Intercompany loans and forecasted interest payments	$	100		$	98		$	13		Interest and other expense, net
Forecasted transactions	17			103			(37		)	Cost of sales
Forecasted transactions	(3		)	(4		)	(2		)	Interest and other expense, net
Forecasted transactions	(8		)	(3		)	3			Selling, general and administrative expenses
Commodity contracts	67			40			(218		)	Cost of sales
Total	$	173		$	234		$	(241	)

Benefit Plans

12 Months Ended

Dec. 31, 2019

Retirement Benefits [Abstract]

Benefit Plans

Note 11. Benefit Plans

Pension Plans

Obligations and Funded Status:

The projected benefit obligations, plan assets and funded status of our pension plans were:



	U.S. Plans						Non-U.S. Plans
	2019			2018			2019			2018
	(in millions)
Projected benefit obligation at January 1	$	1,511		$	1,762		$	9,578		$	10,852
Service cost	38			43			122			146
Interest cost	60			61			202			199
Benefits paid	(40		)	(29		)	(424		)	(462		)
Settlements paid	(73		)	(118		)	(1		)	(2		)
Actuarial (gains)/losses	251			(208		)	761			(640		)
Currency	—			—			207			(528		)
Other	1			—			13			13
Projected benefit obligation at December 31	1,748			1,511			10,458			9,578
Fair value of plan assets at January 1	1,510			1,717			8,465			9,327
Actual return on plan assets	334			(99		)	1,211			(243		)
Contributions	8			39			261			323
Benefits paid	(40		)	(29		)	(424		)	(462		)
Settlements paid	(73		)	(118		)	(1		)	(2		)
Currency	—			—			246			(478		)
Fair value of plan assets at December 31	1,739			1,510			9,758			8,465
Net pension (liabilities)/assets at December 31	$	(9	)	$	(1	)	$	(700	)	$	(1,113	)

The accumulated benefit obligation, which represents benefits earned to the measurement date, for U.S. pension plans was $1,741 million at December 31, 2019 and $1,488 million at December 31, 2018. The accumulated benefit obligation for non-U.S. pension plans was $10,236 million at December 31, 2019 and $9,374 million at December 31, 2018.

Salaried and non-union hourly employees hired after January 1, 2009 in the U.S. and after January 1, 2011 in Canada (or earlier for certain legacy Cadbury employees) are no longer eligible to participate in the defined benefit pension plans. Benefit accruals for salaried and non-union hourly employee participants in the U.S. and Canada defined benefit pension plans ceased on December 31, 2019. These employees instead receive Company contributions to the employee defined contribution plans.

The combined U.S. and non-U.S. pension plans resulted in a net pension liability of $709 million at December 31, 2019 and $1,114 million at December 31, 2018. We recognized these amounts in our consolidated balance sheets as follows:



	As of December 31,
	2019			2018
	(in millions)
Prepaid pension assets	$	516		$	132
Other current liabilities	(35		)	(25		)
Accrued pension costs	(1,190		)	(1,221		)
	$	(709	)	$	(1,114	)

Certain of our U.S. and non-U.S. plans are underfunded with accumulated benefit obligations in excess of plan assets. For these plans, the projected benefit obligations, accumulated benefit obligations and the fair value of plan assets were:



	U.S. Plans				Non-U.S. Plans
	As of December 31,				As of December 31,
	2019		2018		2019		2018
	(in millions)
Projected benefit obligation	$	55	$	52	$	3,613	$	3,343
Accumulated benefit obligation	55		50		3,447		3,194
Fair value of plan assets	2		2		2,443		2,169

We used the following weighted-average assumptions to determine our benefit obligations under the pension plans:



	U.S. Plans				Non-U.S. Plans
	As of December 31,				As of December 31,
	2019		2018		2019		2018
Discount rate	3.44	%	4.40	%	1.74	%	2.45	%
Expected rate of return on plan assets	5.00	%	5.75	%	4.20	%	4.80	%
Rate of compensation increase	4.00	%	4.00	%	3.17	%	3.31	%

Year-end discount rates for our U.S., Canadian, Eurozone and U.K. plans were developed from a model portfolio of high quality, fixed-income debt instruments with durations that match the expected future cash flows of the benefit obligations. Year-end discount rates for our remaining non-U.S. plans were developed from local bond indices that match local benefit obligations as closely as possible. Changes in our discount rates were primarily the result of changes in bond yields year-over-year. We determine our expected rate of return on plan assets from the plan assets’ historical long-term investment performance, current asset allocation and estimates of future long-term returns by asset class.

For the periods presented, we measure service and interest costs by applying the specific spot rates along a yield curve used to measure plan obligations to the plans’ liability cash flows. We believe this approach provides a more precise measurement of service and interest costs by aligning the timing of the plans’ liability cash flows to the corresponding spot rates on the yield curve.

Components of Net Periodic Pension Cost:

Net periodic pension cost consisted of the following:



	U.S. Plans									Non-U.S. Plans
	For the Years Ended December 31,									For the Years Ended December 31,
	2019			2018			2017			2019			2018			2017
	(in millions)
Service cost	$	38		$	43		$	46		$	122		$	146		$	156
Interest cost	60			61			62			202			199			199
Expected return on plan assets	(88		)	(88		)	(101		)	(404		)	(448		)	(434		)
Amortization:
Net loss from experience differences	30			32			37			148			163			167
Prior service cost/(benefit)	1			2			2			(6		)	(2		)	(3		)
Settlement losses and other expenses ⁽¹⁾	16			35			35			(3		)	5			6
Net periodic pension cost	$	57		$	85		$	81		$	59		$	63		$	91

(1)

Settlement losses of $5 million in 2019, $5 million in 2018 and $11 million in 2017 were incurred in connection with our Simplify to Grow Program. See Note 8, Restructuring Program, for more information. Net settlement losses of $12 million for our U.S. plans and settlement gains of $4 million for our non-U.S. plans in 2019, and settlement losses of $31 million for our U.S. plans and $4 million for our non-U.S. plans in 2018 and $21 million for our U.S. plans and $6 million for our non-U.S. plans in 2017 related to lump-sum payment elections made by retired employees.

For the U.S. plans, we determine the expected return on plan assets component of net periodic benefit cost using a calculated market return value that recognizes the cost over a four year period. For our non-U.S. plans, we utilize a similar approach with varying cost recognition periods for some plans, and with others, we determine the expected return on plan assets based on asset fair values as of the measurement date.

As of December 31, 2019, for the combined U.S. and non-U.S. pension plans, we expected to amortize from accumulated other comprehensive earnings/(losses) into net periodic pension cost during 2020:


•	an estimated $133 million of net loss from experience differences; and


•	an estimated $6 million of prior service credit.

We used the following weighted-average assumptions to determine our net periodic pension cost:



	U.S. Plans						Non-U.S. Plans
	For the Years Ended December 31,						For the Years Ended December 31,
	2019		2018		2017		2019		2018		2017
Discount rate	4.40	%	3.68	%	4.19	%	2.45	%	2.20	%	2.31	%
Expected rate of return on plan assets	5.75	%	5.50	%	6.25	%	4.80	%	4.90	%	5.14	%
Rate of compensation increase	4.00	%	4.00	%	4.00	%	3.31	%	3.31	%	3.29	%

Plan Assets:

The fair value of pension plan assets was determined using the following fair value measurements:



	As of December 31, 2019
Asset Category	Total Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(in millions)
U.S. equity securities	$	2	$	2	$	—	$	—
Non-U.S. equity securities	2		2		—		—
Pooled funds - equity securities	2,186		890		1,296		—
Total equity securities	2,190		894		1,296		—
Government bonds	3,328		53		3,275		—
Pooled funds - fixed-income securities	575		417		158		—
Corporate bonds and other fixed-income securities	2,727		66		825		1,836
Total fixed-income securities	6,630		536		4,258		1,836
Real estate	186		124		—		62
Private equity	3		—		—		3
Cash	122		117		5		—
Other	2		1		—		1
Total assets in the fair value hierarchy	$	9,133	$	1,672	$	5,559	$	1,902
Investments measured at net asset value	2,297
Total investments at fair value	$	11,430



	As of December 31, 2018
Asset Category	Total Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(in millions)
U.S. equity securities	$	2	$	2	$	—	$	—
Non-U.S. equity securities	5		5		—		—
Pooled funds - equity securities	1,951		743		1,208		—
Total equity securities	1,958		750		1,208		—
Government bonds	3,156		62		3,094		—
Pooled funds - fixed-income securities	573		429		144		—
Corporate bonds and other fixed-income securities	2,050		87		931		1,032
Total fixed-income securities	5,779		578		4,169		1,032
Real estate	130		108		—		22
Private equity	2		—		—		2
Cash	44		32		12		—
Other	2		1		—		1
Total assets in the fair value hierarchy	$	7,915	$	1,469	$	5,389	$	1,057
Investments measured at net asset value	1,993
Total investments at fair value	$	9,908

We excluded plan assets of $67 million at December 31, 2019 and December 31, 2018 from the above tables related to certain insurance contracts as they are reported at contract value, in accordance with authoritative guidance.

Fair value measurements:


•	Level 1 – includes primarily U.S and non-U.S. equity securities and government bonds valued using quoted prices in active markets.

•

Level 2 – includes primarily pooled funds, including assets in real estate pooled funds, valued using net asset values of participation units held in common collective trusts, as reported by the managers of the trusts and as supported by the unit prices of actual purchase and sale transactions. Level 2 plan assets also include corporate bonds and other fixed-income securities, valued using independent observable market inputs, such as matrix pricing, yield curves and indices.


•	Level 3 – includes investments valued using unobservable inputs that reflect the plans’ assumptions that market participants would use in pricing the assets, based on the best information available.


•	Fair value estimates for pooled funds are calculated by the investment advisor when reliable quotations or pricing services are not readily available for certain underlying securities. The estimated value is based on either cost or last sale price for most of the securities valued in this fashion.

•

Fair value estimates for private equity investments are calculated by the general partners using the market approach to estimate the fair value of private investments. The market approach utilizes prices and other relevant information generated by market transactions, type of security, degree of liquidity, restrictions on the disposition, latest round of financing data, company financial statements, relevant valuation multiples and discounted cash flow analyses.


•	Fair value estimates for private debt placements are calculated using standardized valuation methods, including but not limited to income-based techniques such as discounted cash flow projections or market-based techniques utilizing public and private transaction multiples as comparables.


•	Fair value estimates for real estate investments are calculated by investment managers using the present value of future cash flows expected to be received from the investments, based on valuation methodologies such as appraisals, local market conditions, and current and projected operating performance.


•	Fair value estimates for fixed-income securities that are buy-in annuity policies are calculated on a replacement policy value basis by discounting the projected cash flows of the plan members using a discount rate based on risk-free rates and adjustments for estimated levels of insurer pricing.


•	Net asset value – primarily includes equity funds, fixed income funds, real estate funds, hedge funds and private equity investments for which net asset values are normally used.

Changes in our Level 3 plan assets, which are recorded in other comprehensive earnings/(losses), included:



Asset Category	January 1, 2019 Balance		Net Realized and Unrealized Gains/ (Losses)		Net Purchases, Issuances and Settlements			Net Transfers Into/(Out of) Level 3		Currency Impact			December 31, 2019 Balance
	(in millions)
Corporate bond and other fixed-income securities	$	1,032	$	8	$	727		$	—	$	69		$	1,836
Real estate	22		36		3			—		1			62
Private equity and other	3		1		—			—		—			4
Total Level 3 investments	$	1,057	$	45	$	730		$	—	$	70		$	1,902

Asset Category	January 1, 2018 Balance		Net Realized and Unrealized Gains/ (Losses)		Net Purchases, Issuances and Settlements			Net Transfers Into/(Out of) Level 3		Currency Impact			December 31, 2018 Balance
	(in millions)
Corporate bond and other fixed-income securities	$	790	$	62	$	236		$	—	$	(56	)	$	1,032
Real estate	23		1		(1		)	—		(1		)	22
Private equity and other	3		—		—			—		—			3
Total Level 3 investments	$	816	$	63	$	235		$	—	$	(57	)	$	1,057

The increase in Level 3 pension plan investments during 2019 was primarily due to additional purchases of a buy-in annuity and other fixed income securities, and the increase in 2018 was primarily due to additional purchases of corporate bond and other fixed income securities, which includes private debt placements.

The percentage of fair value of pension plan assets was:



	U.S. Plans				Non-U.S. Plans
	As of December 31,				As of December 31,
Asset Category	2019		2018		2019		2018
Equity securities	15	%	15	%	26	%	26	%
Fixed-income securities	85	%	85	%	54	%	59	%
Real estate	—		—		6	%	6	%
Hedge funds	—		—		1	%	2	%
Buy-in annuity policies	—		—		12	%	6	%
Cash	—		—		1	%	1	%
Total	100	%	100	%	100	%	100	%

For our U.S. plans, our investment strategy is to reduce the risk of underfunded plans in part through appropriate asset allocation within our plan assets. We attempt to maintain our target asset allocation by rebalancing between asset classes as we make contributions and monthly benefit payments. The strategy involves using indexed U.S. equity and international equity securities and actively managed U.S. investment grade fixed-income securities (which constitute 95% or more of fixed-income securities) with smaller allocations to high yield fixed-income securities.

For our non-U.S. plans, the investment strategy is subject to local regulations and the asset/liability profiles of the plans in each individual country. In aggregate, the asset allocation targets of our non-U.S. plans are broadly characterized as a mix of approximately 25% equity securities, 57% fixed-income securities, 12% buy-in annuity policies and 6% real estate.

Employer Contributions:

In 2019, we contributed $8 million to our U.S. pension plans and $248 million to our non-U.S. pension plans. In addition, employees contributed $13 million to our non-U.S. plans. We make contributions to our pension plans in accordance with local funding arrangements and statutory minimum funding requirements. Discretionary contributions are made to the extent that they are tax deductible and do not generate an excise tax liability.

In 2020, we estimate that our pension contributions will be $16 million to our U.S. plans and $230 million to our non-U.S. plans based on current tax laws. Our actual contributions may be different due to many factors, including changes in tax and other benefit laws, significant differences between expected and actual pension asset performance or interest rates.

Future Benefit Payments:

The estimated future benefit payments from our pension plans at December 31, 2019 were (in millions):



	2020		2021		2022		2023		2024		2025-2029
U.S. Plans	$	167	$	102	$	105	$	105	$	108	$	513
Non-U.S. Plans	380		376		385		395		403		2,126

Multiemployer Pension Plans:

In accordance with obligations we have under collective bargaining agreements, we made contributions to multiemployer pension plans of $5 million in 2019, $17 million in 2018 and $26 million in 2017. In 2017, the only individually significant multiemployer plan we contributed to was the Bakery and Confectionery Union and Industry International Pension Fund (the “Fund;” Employer Identification Number 52-6118572). Our obligation to contribute to the Fund arose with respect to 8 collective bargaining agreements covering most of our employees represented by the Bakery, Confectionery, Tobacco and Grain Millers Union. All of those collective bargaining agreements expired in 2016 and we continued to contribute to the Fund through December 2018. Our contributions to the Fund were $12 million in 2018 and $22 million in 2017. Our contributions to other multiemployer pension plans that were not individually significant were $5 million in 2019, $5 million in 2018 and $4 million in 2017. Our contributions are based on our contribution rates under our collective bargaining agreements, the number of our eligible employees and Fund surcharges.

In 2018, we executed a complete withdrawal from the Fund and recorded a $429 million estimated withdrawal liability. On July 11, 2019, we received an undiscounted withdrawal liability assessment from the Fund totaling $526 million requiring pro-rata monthly payments over 20 years and we recorded a $35 million final adjustment to reduce our withdrawal liability as of June 30, 2019. We began making monthly payments during the third quarter of 2019. As of December 31, 2019, the remaining discounted withdrawal liability was $391 million, with $14 million recorded in other current liabilities and $377 million recorded in long-term other liabilities.

Other Costs:

We sponsor and contribute to employee defined contribution plans. These plans cover eligible salaried, non-union and union employees. Our contributions and costs are determined by the matching of employee contributions, as defined by the plans. Amounts charged to expense in continuing operations for defined contribution plans totaled $72 million in 2019, $57 million in 2018 and $43 million in 2017.

Postretirement Benefit Plans

Obligations:

Our postretirement health care plans are not funded. The changes in and the amount of the accrued benefit obligation were:



	As of December 31,
	2019			2018
	(in millions)
Accrued benefit obligation at January 1	$	366		$	435
Service cost	5			6
Interest cost	15			15
Benefits paid	(16		)	(19		)
Currency	5			(11		)
Assumption changes	34			(39		)
Actuarial losses/(gains)	(6		)	(21		)
Accrued benefit obligation at December 31	$	403		$	366

The current portion of our accrued postretirement benefit obligation of $16 million at December 31, 2019 and $15 million at December 31, 2018 was included in other current liabilities.

We used the following weighted-average assumptions to determine our postretirement benefit obligations:



	U.S. Plans				Non-U.S. Plans
	As of December 31,				As of December 31,
	2019		2018		2019		2018
Discount rate	3.41	%	4.37	%	3.86	%	4.40	%
Health care cost trend rate assumed for next year	6.00	%	6.25	%	5.42	%	5.44	%
Ultimate trend rate	5.00	%	5.00	%	5.42	%	5.44	%
Year that the rate reaches the ultimate trend rate	2024		2024		2019		2018

Year-end discount rates for our U.S., Canadian and U.K. plans were developed from a model portfolio of high quality, fixed-income debt instruments with durations that match the expected future cash flows of the benefit obligations. Year-end discount rates for our remaining non-U.S. plans were developed from local bond indices that match local benefit obligations as closely as possible. Changes in our discount rates were primarily the result of changes in bond yields year-over-year. Our expected health care cost trend rate is based on historical costs.

For the periods presented, we measure service and interest costs for other postretirement benefits by applying the specific spot rates along a yield curve used to measure plan obligations to the plans’ liability cash flows. We believe this approach provides a good measurement of service and interest costs by aligning the timing of the plans’ liability cash flows to the corresponding spot rates on the yield curve.

Assumed health care cost trend rates have a significant impact on the amounts reported for the health care plans. A one-percentage-point change in assumed health care cost trend rates would have the following effects:



	As of December 31, 2019
	One-Percentage-Point
	Increase		Decrease
	(in millions)
Effect on postretirement benefit obligation	$	39	$	(33	)
Effect on annual service and interest cost	3		(2		)

Components of Net Periodic Postretirement Health Care Costs:

Net periodic postretirement health care costs consisted of the following:



	For the Years Ended December 31,
	2019			2018			2017
	(in millions)
Service cost	$	5		$	6		$	7
Interest cost	15			14			15
Amortization:
Net loss from experience differences	6			15			14
Prior service credit	(38		)	(39		)	(40		)
Net periodic postretirement health care costs/(benefit)	$	(12	)	$	(4	)	$	(4	)

As of December 31, 2019, we expected to amortize from accumulated other comprehensive earnings/(losses) into pre-tax net periodic postretirement health care costs during 2020:


•	an estimated $10 million of net loss from experience differences, and


•	an estimated $30 million of prior service credit.

We used the following weighted-average assumptions to determine our net periodic postretirement health care cost:



	U.S. Plans			Non-U.S. Plans
	For the Years Ended December 31,			For the Years Ended December 31,
	2019	2018	2017	2019	2018	2017
Discount rate	4.37%	3.66%	4.14%	4.40%	4.24%	4.55%
Health care cost trend rate	6.25%	6.25%	6.50%	5.44%	5.56%	5.50%

Future Benefit Payments:

Our estimated future benefit payments for our postretirement health care plans at December 31, 2019 were (in millions):



	2020		2021		2022		2023		2024		2025-2029
U.S. Plans	$	11	$	12	$	13	$	14	$	15	$	74
Non-U.S. Plans	5		5		5		6		6		32

Other Costs:

We made contributions to multiemployer medical plans totaling $20 million in 2019, $19 million in 2018 and $18 million in 2017. These plans provide medical benefits to active employees and retirees under certain collective bargaining agreements.

Postemployment Benefit Plans

Obligations:

Our postemployment plans are not funded. The changes in and the amount of the accrued benefit obligation at December 31, 2019 and 2018 were:



	As of December 31,
	2019			2018
	(in millions)
Accrued benefit obligation at January 1	$	74		$	76
Service cost	6			6
Interest cost	5			4
Benefits paid	(9		)	(7		)
Assumption changes	3			(1		)
Actuarial losses/(gains)	(13		)	(4		)
Accrued benefit obligation at December 31	$	66		$	74

The accrued benefit obligation was determined using a weighted-average discount rate of 5.3% in 2019 and 6.7% in 2018, an assumed weighted-average ultimate annual turnover rate of 0.3% in 2019 and 2018, assumed compensation cost increases of 4.0% in 2019 and 2018 and assumed benefits as defined in the respective plans.

Postemployment costs arising from actions that offer employees benefits in excess of those specified in the respective plans are charged to expense when incurred.

Components of Net Periodic Postemployment Costs:

Net periodic postemployment costs consisted of the following:



	For the Years Ended December 31,
	2019			2018			2017
	(in millions)
Service cost	$	6		$	6		$	5
Interest cost	5			4			4
Amortization of net gains	(4		)	(3		)	(3		)
Net periodic postemployment costs	$	7		$	7		$	6

As of December 31, 2019, the estimated net gain for the postemployment benefit plans that we expect to amortize from accumulated other comprehensive earnings/(losses) into net periodic postemployment costs during 2020 is approximately $4 million.

Stock Plans

12 Months Ended

Dec. 31, 2019

Share-based Payment Arrangement [Abstract]

Stock Plans

Note 12. Stock Plans

Under our Amended and Restated 2005 Performance Incentive Plan (the “Plan”), we are authorized through May 21, 2024 to issue a maximum of 243.7 million shares of our Common Stock to employees and non-employee directors. As of December 31, 2019, there were 56.2 million shares available to be granted under the Plan.

Stock Options:

Stock options (including stock appreciation rights) are granted at an exercise price equal to the market value of the underlying stock on the grant date, generally become exercisable in three annual installments beginning on the first anniversary of the grant date and have a maximum term of ten years.

We account for our employee stock options under the fair value method of accounting using a Black-Scholes methodology or a Lattice Model to measure stock option expense at the date of grant. The fair value of the stock options at the date of grant is amortized to expense over the vesting period. We recorded compensation expense related to stock options held by our employees of $38 million in 2019, $43 million in 2018 and $50 million in 2017 in our results from continuing operations. The deferred tax benefit recorded related to this compensation expense was $8 million in 2019, $7 million in 2018 and $12 million in 2017. The unamortized compensation expense related to our employee stock options was $35 million at December 31, 2019 and is expected to be recognized over a weighted-average period of 1.2 years.

Our weighted-average Black-Scholes and Lattice Model fair value assumptions were:



	Risk-Free Interest Rate		Expected Life	Expected Volatility		Expected Dividend Yield		Fair Value at Grant Date
2019	2.46	%	5 years	19.96	%	2.37	%	$	7.83
2018	2.68	%	5 years	20.96	%	2.02	%	$	8.30
2017	2.04	%	6 years	22.75	%	1.74	%	$	8.57

The risk-free interest rate represents the constant maturity U.S. government treasuries rate with a remaining term equal to the expected life of the options. The expected life is the period over which our employees are expected to hold their options. Volatility reflects historical movements in our stock price for a period commensurate with the expected life of the options. The dividend yield reflects the dividend yield in place at the time of the historical grants.

Stock option activity is reflected below:



	Shares Subject to Option		Weighted- Average Exercise or Grant Price Per Share		Average Remaining Contractual Term	Aggregate Intrinsic Value
Balance at January 1, 2017	53,601,612		$	28.02		$	874	million
Annual grant to eligible employees	6,012,140		43.20
Additional options issued	162,880		42.54
Total options granted	6,175,020		43.18
Options exercised ⁽¹⁾	(9,431,009	)	26.17			$	170	million
Options cancelled	(1,910,968	)	38.10
Balance at December 31, 2017	48,434,655		29.92			$	626	million
Annual grant to eligible employees	5,666,530		43.51
Additional options issued	168,306		31.40
Total options granted	5,834,836		43.16
Options exercised ⁽¹⁾	(9,333,271	)	25.16			$	170	million
Options cancelled	(1,117,390	)	42.93
Balance at December 31, 2018	43,818,830		32.36			$	371	million
Annual grant to eligible employees	4,793,570		47.72
Additional options issued	68,420		50.82
Total options granted	4,861,990		47.76
Options exercised ⁽¹⁾	(13,668,354	)	27.53			$	306	million
Options cancelled	(1,156,518	)	42.22
Balance at December 31, 2019	33,855,948		36.19		5 years	$	640	million
Exercisable at December 31, 2019	25,121,711		32.89		4 years	$	557	million


(1)	Cash received from options exercised was $369 million in 2019, $231 million in 2018 and $257 million in 2017. The actual tax benefit realized and recorded in the provision for income taxes for the tax deductions from the option exercises totaled $40 million in 2019, $21 million in 2018 and $31 million in 2017.

Deferred Stock Units, Performance Share Units and Restricted Stock:

Historically we have made grants of deferred stock units, performance share units and restricted stock. Beginning in 2016, we only grant deferred stock units and performance share units and no longer grant restricted stock. Deferred stock units granted to eligible employees have most shareholder rights, except that they may not sell, assign, pledge or otherwise encumber the shares and our deferred stock units do not have voting rights until vested. Shares of deferred stock units are subject to forfeiture if certain employment conditions are not met. Deferred stock units generally vest on the third anniversary of the grant date. Performance share units granted under our 2005 Plan vest based on varying performance, market and service conditions. The unvested performance share units have no voting rights and do not pay dividends. Dividend equivalents accumulated over the vesting period are paid only after the performance share units vest.

The fair value of the deferred stock units, performance share units and restricted stock at the date of grant is amortized to earnings over the vesting period. The fair value of our deferred stock units and restricted stock is measured at the market price of our Common Stock on the grant date. Performance share unit awards generally have targets tied to both performance and market-based conditions. For market condition components, market volatility and other factors are taken into consideration in determining the grant date fair value and the related compensation expense is recognized regardless of whether the market condition is satisfied, provided that the requisite service has been provided. For performance condition components, we estimate the probability that the performance conditions will be achieved each quarter and adjust compensation expenses accordingly. The grant date fair value of performance share units is determined based on the Monte Carlo simulation model for the market-based total shareholder return component and the market price of our Common Stock on the grant date for performance-based components. The number of performance share units that ultimately vest ranges from 0-200 percent of the number granted, based on the achievement of the performance and market-based components.

We recorded compensation expense related to deferred stock units, performance share units and restricted stock of $97 million in 2019, $85 million in 2018 and $87 million in 2017 in our results from continuing operations. The deferred tax benefit recorded related to this compensation expense was $16 million in 2019, $12 million in 2018 and $23 million in 2017. The unamortized compensation expense related to our deferred stock units, performance share units and restricted stock was $106 million at December 31, 2019 and is expected to be recognized over a weighted-average period of 1.5 years.

Our performance share unit, deferred stock unit and restricted stock activity is reflected below:



	Number of Shares		Grant Date	Weighted-Average Fair Value Per Share (4)		Weighted-Average Aggregate Fair Value (3)
Balance at January 1, 2017	7,593,627			$	36.90
Annual grant to eligible employees:			Feb. 16, 2017
Performance share units	1,087,010			43.14
Deferred stock units	845,550			43.20
Additional shares granted ⁽¹⁾	1,537,763		Various	42.22
Total shares granted	3,470,323			42.75		$	148	million
Vested ^{(2) (3)}	(2,622,807	)		35.78		$	94	million
Forfeited ⁽²⁾	(771,438	)		38.69
Balance at December 31, 2017	7,669,705			39.74
Annual grant to eligible employees:			Feb. 22, 2018
Performance share units	1,048,770			51.23
Deferred stock units	788,310			43.51
Additional shares granted ⁽¹⁾	446,752		Various	41.78
Total shares granted	2,283,832			46.72		$	107	million
Vested ^{(2) (3)}	(2,511,992	)		38.91		$	98	million
Forfeited ⁽²⁾	(882,535	)		42.00
Balance at December 31, 2018	6,559,010			42.19
Annual grant to eligible employees:			Feb. 22, 2019
Performance share units	891,210			57.91
Deferred stock units	666,880			47.72
Additional shares granted ⁽¹⁾	205,073		Various	54.81
Total shares granted	1,763,163			53.69		$	95	million
Vested ⁽³⁾	(2,007,848	)		37.81		$	76	million
Forfeited	(652,380	)		45.88
Balance at December 31, 2019	5,661,945			46.90


(1)	Includes performance share units and deferred stock units.


(2)	Includes performance share units, deferred stock units and historically granted restricted stock.


(3)	The actual tax benefit/(expense) realized and recorded in the provision for income taxes for the tax deductions from the shares vested totaled $2 million in 2019, $3 million in 2018 and $7 million in 2017.

(4)

The grant date fair value of performance share units is determined based on the Monte Carlo simulation model for the market-based total shareholder return component and the closing market price of the Company’s stock on the grant date for performance-based components. The Monte Carlo simulation model incorporates the probability of achieving the total shareholder return market condition. Compensation expense is recognized using the grant date fair values regardless of whether the market condition is achieved, so long as the requisite service has been provided.

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 14. 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. In February 2013 and March 2014, Cadbury India Limited (now known as Mondelez India Foods Private Limited), a subsidiary of Mondelēz International, and other parties received show cause notices from the Indian Central Excise Authority (the “Excise Authority”) calling upon the parties to demonstrate why the Excise Authority should not collect a total of 3.7 billion Indian rupees ($52 million as of December 31, 2019) ("Period 1") of unpaid excise tax and an equivalent amount of penalties, as well as interest, related to production at the same Indian facility. We contested these demands and on March 27, 2015, the Commissioner of the Excise Authority (the "Commissioner") issued an order denying the excise exemption that we claimed for Period 1. We appealed this order in June 2015. The Excise Authority issued additional show cause notices in February 2015, December 2015 and October 2017 on the same issue covering additional periods through June 2017 ("Period 2"). These three notices added a total of 4.9 billion Indian rupees ($68 million as of December 31, 2019) of allegedly unpaid excise taxes subject to penalties up to an equivalent amount plus accrued interest. We contested these demands, and on May 25, 2019, the Commissioner issued an order denying the excise exemption that we claimed for Period 2. We appealed this order in August 2019. With the implementation of the Goods and Services Tax ("GST") in India in July 2017, we stopped receiving show cause notices for additional amounts on this issue. Beginning in the fall of 2019, the government of India made available an amnesty to resolve legacy tax issues following the GST implementation. Under the amnesty, upon payment of 50% of the principal demand for cases pending adjudication or appeal as of June 30, 2019 and 60% of the principal demand for cases where the appeal was filed after June 30, 2019, the government would waive the remainder of the principal demand as well as any penalties imposed and interest, and it would also grant immunity from prosecution. Although we continue to believe that our decision to claim the excise tax benefit was valid, in December 2019, we filed for the amnesty and accrued a total of 4.6 billion Indian rupees ($65 million as of December 31, 2019) in selling, general and administrative expenses for this matter. In January 2020, we made the related payments under the amnesty. This matter is now resolved, and the resolution was not material to our business or financial condition. On April 1, 2015, the U.S. Commodity Futures Trading Commission ("CFTC") filed a complaint against Kraft Foods Group and Mondelēz Global LLC (“Mondelēz Global”) in the U.S. District Court for the Northern District of Illinois (the "District Court"), Eastern Division (the “CFTC action”) following its investigation of activities related to the trading of December 2011 wheat futures contracts that occurred prior to the spin-off of Kraft Foods Group. The complaint alleges that Kraft Foods Group and Mondelēz Global (1) manipulated or attempted to manipulate the wheat markets during the fall of 2011; (2) violated position limit levels for wheat futures and (3) engaged in non-competitive trades by trading both sides of exchange-for-physical Chicago Board of Trade wheat contracts. The CFTC seeks civil monetary penalties of either triple the monetary gain for each violation of the Commodity Exchange Act (the “Act”) or $1 million for each violation of Section 6(c)(1), 6(c)(3) or 9(a)(2) of the Act and $140,000 for each additional violation of the Act, plus post-judgment interest; an order of permanent injunction prohibiting Kraft Foods Group and Mondelēz Global from violating specified provisions of the Act; disgorgement of profits; and costs and fees. On August 15, 2019, the District Court approved a settlement agreement between the CFTC and Mondelēz Global. The terms of the settlement, which are available in the District Court’s docket, had an immaterial impact on our financial position, results of operations and cash flows. On October 23, 2019, following a ruling by the United States Court of Appeals for the Seventh Circuit (the "Seventh Circuit") regarding Mondelēz Global's allegations that the CFTC and its Commissioners violated certain terms of the settlement agreement and the CFTC's argument that the Commissioners were not bound by the terms of the settlement agreement, the District Court vacated the settlement agreement and reinstated all pending motions that the District Court had previously mooted as a result of the settlement. Additionally, several class action complaints were filed against Kraft Foods Group and Mondelēz Global in the District Court by investors in wheat futures and options on behalf of themselves and others similarly situated. The complaints make similar allegations as those made in the CFTC action, and the plaintiffs are seeking class action certification; monetary damages, interest and unjust enrichment; costs and fees; and injunctive, declaratory and other unspecified relief. In June 2015, these suits were consolidated in the District Court. On January 3, 2020, the District Court granted plaintiffs' request to certify a class. On January 17, 2020, we filed a petition for an interlocutory appeal of the District Court's class certification decision to the Seventh Circuit. It is not possible to predict the outcome of these matters; however, based on our Separation and Distribution Agreement with Kraft Foods Group dated as of September 27, 2012, we expect to bear any monetary penalties or other payments in connection with the CFTC action. Although the CFTC action and the class action complaints involve the same alleged conduct, a resolution or decision with respect to one of the matters may not be dispositive as to the outcome of the other matter. In November 2019, the European Commission informed us that it has initiated an investigation into our alleged infringement of European Union competition law through certain practices restricting cross-border trade within the European Economic Area. We are cooperating with the investigation. The fact that an investigation has been initiated does not mean that the European Commission has concluded that there is an infringement. It is not possible to predict how long the investigation will take or the ultimate outcome of this matter. On August 21, 2018, the Virginia Department of Environmental Quality (“VDEQ”) issued a Notice of Violation (“NOV”) to Mondelēz Global. In the NOV, the VDEQ alleges that in our Richmond bakery, one operating line did not have the proper minimum temperature on its pollution control equipment and that the bakery failed to provide certain observation and training records. The VDEQ indicated that the alleged violations may lead to a fine and/or injunctive relief. We are working with the VDEQ to reach a resolution of this matter, and we do not expect this matter to have a material effect on our financial results. We are a party to various legal proceedings, including disputes, litigation and regulatory matters, incidental to our business, including those noted above in this section. We record provisions in the consolidated financial statements for pending litigation when we determine that an unfavorable outcome is probable and the amount of the loss can be reasonably estimated. For matters that are reasonably possible to result in an unfavorable outcome, management is unable to estimate the possible loss or range of loss or such amounts have been determined to be immaterial. At present we believe that the ultimate outcome of these proceedings, individually and in the aggregate, will not materially harm our financial position, results of operations or cash flows. However, legal proceedings and government investigations are subject to inherent uncertainties, and unfavorable rulings or other events could occur. Unfavorable resolutions could involve substantial monetary damages. In addition, in matters for which conduct remedies are sought, unfavorable resolutions could include an injunction or other order prohibiting us from selling one or more products at all or in particular ways, precluding particular business practices or requiring other remedies. An unfavorable outcome might result in a material adverse impact on our business, results of operations or financial position. Third-Party Guarantees: We enter into third-party guarantees primarily to cover 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 December 31, 2019, we had no material third-party guarantees recorded on our consolidated balance sheet. Tax Matters: We are a party to various tax matter proceedings incidental to our business. These proceedings are subject to inherent uncertainties, and unfavorable outcomes could subject us to additional tax liabilities and could materially adversely impact our business, results of operations or financial position. During the fourth quarter of 2019, we resolved several indirect tax matters and recorded $85 million of net indirect tax expenses within selling, general and administrative expenses. These amounts primarily include the matter resolved under the tax amnesty described above under “Legal Proceedings.” A tax indemnification matter related to our 2007 acquisition of the LU biscuit business was closed during the quarter ended June 30, 2018. The closure had no impact on net earnings, however, it did result in a $15 million tax benefit that was fully offset by an $11 million expense in selling, general and administrative expenses and a $4 million expense in interest and other expense, net. During the first quarter of 2017, the Brazilian Supreme Court (the “Court”) ruled against the Brazilian tax authorities in a leading case related to the computation of certain indirect taxes. The Court ruled that the indirect tax base should not include a value-added tax known as “ICMS”. By removing the ICMS from the tax base, the Court effectively eliminated a “tax on a tax.” In lower courts, our Brazilian subsidiaries filed lawsuits to recover amounts paid and to discontinue subsequent payments related to the “tax on a tax.” Our Brazilian subsidiaries received injunctions against making payments for the “tax on a tax” in 2008 and since that time until December 2016, had accrued this portion of the tax each quarter in the event that the tax was reaffirmed by the Brazilian courts. On September 30, 2017, based on legal advice and the publication of the Court’s decision related to this case, we determined that the likelihood that the increased tax base would be reinstated and assessed against us was remote. Accordingly, we reversed our accrual of 667 million Brazilian reais, or $212 million as of September 30, 2017, of which $153 million was recorded within selling, general and administrative expenses and $59 million was recorded within interest and other expense, net. In connection with the Court's 2017 decision, the Brazilian tax authority filed a motion seeking clarification and adjustment of the terms of enforcement and that motion is still to be decided. We continue to monitor developments in this matter and currently do not expect a material future impact on our financial statements. During the fourth quarter of 2018, in one of our lower court cases, the Brazilian Federal Court of Appeals ruled in our favor against the Brazilian tax authority, allowing one of our Brazil subsidiaries to recover amounts previously paid. As a result, we recorded a net benefit in selling, general and administrative expenses of $26 million. As part of our 2010 Cadbury acquisition, we became the responsible party for tax matters under a February 2, 2006 dated Deed of Tax Covenant between the Cadbury Schweppes PLC and related entities (“Schweppes”) and Black Lion Beverages and related entities. The tax matters included an ongoing transfer pricing case with the Spanish tax authorities related to the Schweppes businesses Cadbury divested prior to our acquisition of Cadbury. During the first quarter of 2017, the Spanish Supreme Court decided the case in our favor. As a result of the final ruling, during the first quarter of 2017, we recorded a favorable earnings impact of $46 million in selling, general and administrative expenses and $12 million in interest and other expense, net, for a total pre-tax impact of $58 million due to the non-cash reversal of Cadbury-related accrued liabilities related to this matter. We recorded a total of $4 million of income over the third and fourth quarters of 2017 in connection with the related bank guarantee releases.

Reclassifications from Accumulated Other Comprehensive Income

12 Months Ended

Dec. 31, 2019

Equity [Abstract]

Reclassifications from Accumulated Other Comprehensive Income

Note 15. Reclassifications from Accumulated Other Comprehensive Income

The following table summarizes the changes in the accumulated balances of each component of accumulated other comprehensive earnings/(losses) attributable to Mondelēz International. Amounts reclassified from accumulated other comprehensive earnings/(losses) to net earnings (net of tax) were net losses of $279 million in 2019, $169 million in 2018 and $174 million in 2017.



	For the Years Ended December 31,
	2019			2018			2017
	(in millions)
Currency Translation Adjustments:
Balance at beginning of period	$	(8,603	)	$	(7,740	)	$	(8,910	)
Currency translation adjustments	250			(698		)	984
Reclassification to earnings related to:
Equity method investment transactions	—			6			—
Tax (expense)/benefit	49			(173		)	214
Other comprehensive earnings/(losses)	299			(865		)	1,198
Less: other comprehensive (earnings)/loss attributable to noncontrolling interests	2			2			(28		)
Balance at end of period	(8,302		)	(8,603		)	(7,740		)
Pension and Other Benefit Plans:
Balance at beginning of period	$	(1,860	)	$	(2,144	)	$	(2,087	)
Net actuarial gain/(loss) arising during period	(10		)	36			(71		)
Tax (expense)/benefit on net actuarial gain/(loss)	20			(16		)	50
Losses/(gains) reclassified into net earnings:
Amortization of experience losses and prior service costs ⁽¹⁾	137			168			174
Settlement losses and other expenses ⁽¹⁾	30			40			38
Tax expense/(benefit) on reclassifications ⁽²⁾	(42		)	(36		)	(65		)
Currency impact	(19		)	92			(183		)
Other comprehensive earnings/(losses)	116			284			(57		)
Balance at end of period	(1,744		)	(1,860		)	(2,144		)
Derivative Cash Flow Hedges:
Balance at beginning of period	$	(167	)	$	(113	)	$	(121	)
Net derivative gains/(losses)	(224		)	(58		)	(17		)
Tax (expense)/benefit on net derivative gain/(loss)	19			6			9
Losses/(gains) reclassified into net earnings:
Currency exchange contracts - forecasted transactions ⁽³⁾	—			—			4
Commodity contracts ⁽³⁾	—			—			29
Interest rate contracts⁽⁴⁾	155			(11		)	—
Tax expense/(benefit) on reclassifications ⁽²⁾	(1		)	2			(6		)
Currency impact	6			7			(11		)
Other comprehensive earnings/(losses)	(45		)	(54		)	8
Balance at end of period	(212		)	(167		)	(113		)
Accumulated other comprehensive income attributable to Mondelēz International:
Balance at beginning of period	$	(10,630	)	$	(9,997	)	$	(11,118	)
Total other comprehensive earnings/(losses)	370			(635		)	1,149
Less: other comprehensive (earnings)/loss attributable to noncontrolling interests	2			2			(28		)
Other comprehensive earnings/(losses) attributable to Mondelēz International	372			(633		)	1,121
Balance at end of period	$	(10,258	)	$	(10,630	)	$	(9,997	)


(1)	These reclassified losses are included in net periodic benefit costs disclosed in Note 11, Benefit Plans, and net loss on equity method investment transactions.


(2)	Taxes reclassified to earnings are recorded within the provision for income taxes.


(3)	These reclassified gains or losses are recorded within cost of sales.

(4)

These reclassified losses are recorded within interest and other expense, net and net loss on equity method investment transactions.

Income Taxes

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Income Taxes

Note 16. Income Taxes

On August 6, 2019, Switzerland published changes to its Federal tax law in the Official Federal Collection of Laws. On September 27, 2019, the Zurich Canton published their decision on the September 1, 2019 Zurich Canton public vote regarding the Cantonal changes associated with the Swiss Federal tax law change. The intent of these tax law changes was to replace certain preferential tax regimes with a new set of internationally accepted measures that are hereafter referred to as "Swiss tax reform". Based on these Federal/Cantonal events, our position is the enactment of Swiss tax reform for U.S. GAAP purposes was met as of September 30, 2019, and we recorded the impacts in the third quarter 2019. The net impact was a benefit of $767 million, which consisted of a $769 million reduction in deferred tax expense from an allowed step-up of intangible assets for tax purposes (recorded net of valuation allowance) and remeasurement of our deferred tax balances, partially offset by a $2 million indirect tax impact in selling, general and administrative expenses. The future rate impacts of these Swiss tax reform law changes are effective starting January 1, 2020. We will continue to monitor Swiss tax reform for any additional interpretative guidance that could result in changes to the amounts we have recorded.

On December 22, 2017, new U.S. tax reform legislation ("U.S. tax reform") was enacted that included a broad range of complex provisions impacting the taxation of businesses. Certain impacts of the new legislation would have generally required accounting to be completed and incorporated into our 2017 year-end financial statements, however in response to the complexities of this new legislation, the SEC issued guidance to provide companies with relief. The SEC provided up to a one-year window for companies to finalize the accounting for the impacts of this new legislation. We finalized our accounting for the new provisions during the fourth quarter of 2018. U.S. tax reform resulted in a total transition tax liability of $1,284 million ($1,279 million as of December 31, 2018 and $5 million of 2019 related updates) based on the deemed repatriation of our accumulated foreign earnings and profits, which will be paid in installments through 2026, and a related change in our indefinite reinvestment assertion for most companies owned directly by our U.S. subsidiaries. In addition, the legislation reduced the U.S. federal tax rate from 35% to 21% and established various new provisions, including a new provision that taxes U.S. allocated expenses (e.g. interest and general administrative expenses) as well as currently taxes certain income from foreign operations (Global Intangible Low-Tax Income, or “GILTI”).

Earnings/(losses) from continuing operations before income taxes and the provision for income taxes consisted of:



	For the Years Ended December 31,
	2019			2018			2017
	(in millions)
Earnings/(losses) from continuing operations before income taxes:
United States	$	751		$	(170	)	$	354
Outside United States	2,696			3,012			2,770
	$	3,447		$	2,842		$	3,124
Provision for income taxes:
United States federal:
Current	$	145		$	(34	)	$	1,322
Deferred	97			171			(1,274		)
	242			137			48
State and local:
Current	29			23			32
Deferred	45			61			30
	74			84			62
Total United States	316			221			110

Outside United States:
Current	459			552			541
Deferred	(773		)	—			15
Total outside United States	(314		)	552			556

Total provision for income taxes	$	2		$	773		$	666

The effective income tax rate on pre-tax earnings differed from the U.S. federal statutory rate as follows:



	For the Years Ended December 31,
	2019		2018		2017
U.S. federal statutory rate	21.0	%	21.0	%	35.0	%
Increase/(decrease) resulting from:
State and local income taxes, net of federal tax benefit	1.3	%	0.4	%	0.8	%
Foreign rate differences	0.2	%	(1.9	)%	(10.8	)%
Changes in judgment on realizability of deferred tax assets	(0.3	)%	(0.4	)%	3.2	%
Reversal of other tax accruals no longer required	(3.0	)%	(1.8	)%	(1.7	)%
Tax accrual on investment in Keurig (including tax impact of the gain from the KDP transaction)	0.8	%	8.4	%	1.2	%
Excess tax benefits from equity compensation	(1.2	)%	(0.8	)%	(1.2	)%
Tax legislation (non-U.S. and non-Swiss tax reform)	0.4	%	0.3	%	(2.6	)%
Swiss tax reform	(22.3	)%	—		—	%
U.S. tax reform - deferred benefit from tax rate change	—		—		(41.5	)%
U.S. tax reform - transition tax	0.1	%	(1.3	)%	42.2	%
U.S. tax reform - changes in indefinite reinvestment assertion	—		2.1	%	(2.0	)%
Foreign tax provisions under TCJA (GILTI, FDII and BEAT)⁽¹⁾	2.5	%	1.1	%	—
Other	0.6	%	0.1	%	(1.3	)%
Effective tax rate	0.1	%	27.2	%	21.3	%


(1)	The Tax Cuts and Jobs Act of 2017 ("TCJA") established the Global Intangible Low-Tax Income ("GILTI") provision, which taxes U.S. allocated expenses and certain income from foreign operations; the Foreign-Derived Intangible Income ("FDII")

provision, which allows a deduction against certain types of US taxable income resulting in a lower effective US tax rate on such income; and the Base Erosion Anti-abuse Tax ("BEAT"), which is a new minimum tax based on cross-border service payments by U.S. entities.

Our 2019 effective tax rate of 0.1% was significantly impacted by the $769 million net deferred tax benefit related to Swiss tax reform in the third quarter of 2019. Excluding this impact, our 2019 effective tax rate was 22.4%, which reflects unfavorable provisions from U.S. tax reform and taxes on earnings from equity method investments (these earnings are reported separately on our consolidated statements of earnings and not within earnings before income taxes), largely offset by favorable impacts from the mix of pre-tax income in various non-U.S. jurisdictions and discrete net tax benefits of $176 million. The discrete net tax benefits were primarily driven by a $128 million net benefit from the release of liabilities for uncertain tax positions due to expirations of statutes of limitations and audit settlements in several jurisdictions.

Our 2018 effective tax rate of 27.2% was unfavorably impacted by net tax expenses from $128 million of discrete one-time events as well as unfavorable provisions within the new U.S. tax reform legislation and taxes on earnings from equity method investments (these earnings are reported separately on our consolidated statements of earnings and not within earnings before income taxes), partially offset by the favorable mix of pre-tax income in various non-U.S. tax jurisdictions as well as the reduction in the U.S. federal tax rate. The discrete net tax expenses included a $192 million deferred tax expense related to a $778 million gain on the KDP transaction reported as a gain on equity method investment as well as $19 million expense from the final updates to the provisional impacts from U.S. tax reform reported as of 2017 year-end, partially offset by an $81 million benefit from favorable audit settlements and statutes of limitations in various jurisdictions.

Our 2017 effective tax rate of 21.3% was favorably impacted by the mix of pre-tax income in various non-U.S. tax jurisdictions and net tax benefits from $97 million of discrete one-time events, partially offset by domestic earnings taxed at the higher pre-U.S. tax reform rate of 35% as well as taxes on earnings from equity method investments (these earnings are reported separately on our consolidated statements of earnings and not within earnings before income taxes). The discrete net tax benefits included the provisional net impact from U.S. tax reform discussed previously, favorable audit settlements and statutes of limitations in various jurisdictions, and the net reduction of our French and Belgian deferred tax liabilities resulting from tax legislation enacted during 2017 that reduced the corporate income tax rates in each country, partially offset by the addition of a valuation allowance in one of our Chinese entities.

Tax effects of temporary differences that gave rise to deferred income tax assets and liabilities consisted of:



	As of December 31,
	2019			2018
	(in millions)
Deferred income tax assets:
Accrued postretirement and postemployment benefits	$	150		$	147
Accrued pension costs	272			349
Other employee benefits	160			147
Accrued expenses	287			283
Loss carryforwards	589			707
Tax credit carryforwards	729			747
Other	438			302
Total deferred income tax assets	2,625			2,682
Valuation allowance	(1,243		)	(1,153		)
Net deferred income tax assets	$	1,382		$	1,529
Deferred income tax liabilities:
Intangible assets, including impact from Swiss tax reform	$	(2,772	)	$	(3,861	)
Property, plant and equipment	(663		)	(473		)
Other	(559		)	(492		)
Total deferred income tax liabilities	(3,994		)	(4,826		)
Net deferred income tax liabilities	$	(2,612	)	$	(3,297	)

Our significant valuation allowances are in the U.S., Switzerland and China. The U.S. valuation allowance relates to excess foreign tax credits generated by the deemed repatriation under U.S. tax reform while the Swiss valuation allowance brings the allowed step-up of intangible assets recorded under Swiss tax reform to the amount more likely than not to be realized. The valuation allowance in China relates to character-specific deferred tax assets of one of our Chinese entities.

At December 31, 2019, the Company has pre-tax loss carryforwards of $3,491 million, of which $691 million will expire at various dates between 2020 and 2039 and the remaining $2,800 million can be carried forward indefinitely.

The unremitted earnings as of December 31, 2019 in those subsidiaries where we continue to be indefinitely reinvested is approximately $1.6 billion. We currently have not recognized approximately $75 million of deferred tax liabilities related to those unremitted earnings. Future tax law changes or changes in the needs of our non-U.S. subsidiaries could require us to recognize deferred tax liabilities on a portion, or all, of our accumulated earnings that are currently indefinitely reinvested.

The changes in our unrecognized tax benefits were:



	For the Years Ended December 31,
	2019			2018			2017
	(in millions)
January 1	$	516		$	579		$	610
Increases from positions taken during prior periods	27			36			33
Decreases from positions taken during prior periods	(35		)	(43		)	(93		)
Increases from positions taken during the current period	50			57			64
Decreases relating to settlements with taxing authorities	(64		)	(45		)	(54		)
Reductions resulting from the lapse of the applicable statute of limitations	(64		)	(31		)	(29		)
Currency/other	(4		)	(37		)	48
December 31	$	426		$	516		$	579

As of January 1, 2019, our unrecognized tax benefits were $516 million. If we had recognized all of these benefits, the net impact on our income tax provision would have been $463 million. Our unrecognized tax benefits were $426 million at December 31, 2019, and if we had recognized all of these benefits, the net impact on our income tax provision would have been $364 million. Within the next 12 months, our unrecognized tax benefits could increase by approximately $30 million due to unfavorable audit developments or decrease by approximately $140 million due to audit settlements and the expiration of statutes of limitations in various jurisdictions. We include accrued interest and penalties related to uncertain tax positions in our tax provision. We had accrued interest and penalties of $180 million as of January 1, 2019 and $170 million as of December 31, 2019. Our 2019 provision for income taxes included $5 million benefit for interest and penalties.

Our income tax filings are regularly examined by federal, state and non-U.S. tax authorities. U.S. federal, state and non-U.S. jurisdictions have statutes of limitations generally ranging from three to five years; however, these statutes are often extended by mutual agreement with the tax authorities. The earliest year still open to examination by U.S. federal and state tax authorities is 2016 and years still open to examination by non-U.S. tax authorities in major jurisdictions include (earliest open tax year in parentheses): Brazil (2014), China (2009), France (2015), India (2005), Russia (2013) and Switzerland (2014).

Segment Reporting

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

Segment Reporting

Note 18. Segment Reporting

We manufacture and market primarily snack food products, including biscuits (cookies, crackers and salted snacks), chocolate, gum & candy and various cheese & grocery products, as well as powdered beverage products.

We manage our global business and report operating results through geographic units. We manage our operations by region to leverage regional operating scale, manage different and changing business environments more effectively and pursue growth opportunities as they arise across our key markets. Our regional management teams have responsibility for the business, product categories and financial results in the regions.

Our operations and management structure are organized into four operating segments:


•	Latin America


•	AMEA


•	Europe


•	North America

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 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 benefit plan non-service income and 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, reflecting our current segment structure for all periods presented, were:



	For the Years Ended December 31,
	2019		2018		2017
	(in millions)
Net revenues:
Latin America	$	3,018	$	3,202	$	3,566
AMEA	5,770		5,729		5,739
Europe	9,972		10,122		9,794
North America	7,108		6,885		6,797
Net revenues	$	25,868	$	25,938	$	25,896



Earnings before income taxes:
Operating income:
Latin America	$	341		$	410		$	564
AMEA	691			702			514
Europe	1,732			1,734			1,610
North America	1,451			849			1,144
Unrealized gains/(losses) on hedging activities (mark-to-market impacts)	91			141			(96		)
General corporate expenses	(330		)	(335		)	(282		)
Amortization of intangibles	(174		)	(176		)	(178		)
Net gains on divestitures	44			—			186
Acquisition-related costs	(3		)	(13		)	—
Operating income	3,843			3,312			3,462
Benefit plan non-service income⁽¹⁾	60			50			44
Interest and other expense, net	(456		)	(520		)	(382		)
Earnings before income taxes	$	3,447		$	2,842		$	3,124

(1)

No single customer accounted for 10% or more of our net revenues from continuing operations in 2019. Our five largest customers accounted for 17.0% and our ten largest customers accounted for 23.2% of net revenues from continuing operations in 2019.

Items impacting our segment operating results are discussed in Note 1, Summary of Significant Accounting Policies, Note 2, Divestitures and Acquisitions, Note 4, Property, Plant and Equipment, Note 6, Goodwill and Intangible Assets, Note 8, Restructuring Program, and Note 14, Commitments and Contingencies. Also see Note 9, Debt and Borrowing Arrangements, and Note 10, Financial Instruments, for more information on our interest and other expense, net for each period.

Total assets, depreciation expense and capital expenditures by segment, reflecting our current segment structure for all periods presented, were:



	For the Years Ended December 31,
	2019		2018		2017
	(in millions)
Total assets:
Latin America ⁽¹⁾	$	4,716	$	4,699	$	4,948
AMEA ⁽¹⁾	9,740		9,571		9,883
Europe ⁽¹⁾	20,354		19,426		21,611
North America ⁽¹⁾	21,637		21,015		20,709
Equity method investments	7,212		7,123		6,193
Unallocated assets and adjustments ⁽²⁾	890		895		(387		)
Total assets	$	64,549	$	62,729	$	62,957


(1)	Segment assets do not reflect outstanding intercompany asset balances as intercompany accounts have been eliminated at a segment level.


(2)	Unallocated assets consist primarily of cash and cash equivalents, deferred income taxes, centrally held property, plant and equipment, prepaid pension assets and derivative financial instrument balances. Final adjustments for jurisdictional netting of deferred tax assets and liabilities is done at a consolidated level.



	For the Years Ended December 31,
	2019		2018		2017
	(in millions)
Depreciation expense ⁽¹⁾:
Latin America	$	105	$	97	$	107
AMEA	164		159		157
Europe	238		248		239
North America	138		131		135
Total depreciation expense	$	645	$	635	$	638


(1)	Includes depreciation expense related to owned property, plant and equipment. Does not include amortization of intangible assets or leased assets. Refer to the consolidated statement of cash flows for 2019 for total depreciation and amortization expenses.



	For the Years Ended December 31,
	2019		2018		2017
	(in millions)
Capital expenditures:
Latin America	$	197	$	261	$	226
AMEA	244		277		280
Europe	297		326		278
North America	187		231		230
Total capital expenditures	$	925	$	1,095	$	1,014

Geographic data for net revenues (recognized in the countries where products are sold) and long-lived assets, excluding deferred tax, goodwill, intangible assets and equity method investments, were:



	For the Years Ended December 31,
	2019		2018		2017
	(in millions)
Net revenues:
United States	$	6,625	$	6,401	$	6,275
Other	19,243		19,537		19,621
Total net revenues	$	25,868	$	25,938	$	25,896



	As of December 31,
	2019		2018		2017
	(in millions)
Long-lived assets:
United States	$	1,806	$	1,481	$	1,468
Other	8,370		7,539		7,733
Total long-lived assets	$	10,176	$	9,020	$	9,201

No individual country within Other exceeded 10% of our net revenues or long-lived assets for all periods presented.

Net revenues by product category, reflecting our current segment structure for all periods presented, were:



	For the Year Ended December 31, 2019
	Latin America		AMEA		Europe		North America		Total
	(in millions)
Biscuits	$	708	$	1,844	$	2,998	$	5,888	$	11,438
Chocolate	710		2,082		5,119		247		8,158
Gum & Candy	823		861		698		973		3,355
Beverages	452		546		97		—		1,095
Cheese & Grocery	325		437		1,060		—		1,822
Total net revenues	$	3,018	$	5,770	$	9,972	$	7,108	$	25,868



	For the Year Ended December 31, 2018
	Latin America		AMEA		Europe		North America		Total
	(in millions)
Biscuits	$	727	$	1,724	$	3,127	$	5,607	$	11,185
Chocolate	747		2,080		5,083		267		8,177
Gum & Candy	865		879		736		1,011		3,491
Beverages	533		553		98		—		1,184
Cheese & Grocery	330		493		1,078		—		1,901
Total net revenues	$	3,202	$	5,729	$	10,122	$	6,885	$	25,938



	For the Year Ended December 31, 2017
	Latin America		AMEA		Europe		North America		Total
	(in millions)
Biscuits	$	779	$	1,637	$	2,944	$	5,479	$	10,839
Chocolate	862		2,008		4,869		293		8,032
Gum & Candy	919		919		775		1,025		3,638
Beverages	665		569		121		—		1,355
Cheese & Grocery	341		606		1,085		—		2,032
Total net revenues	$	3,566	$	5,739	$	9,794	$	6,797	$	25,896

Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Data (Unaudited)

Note 19. Quarterly Financial Data (Unaudited)

Our summarized operating results by quarter are detailed below.



	2019 Quarters
	First			Second			Third			Fourth
	(in millions, except per share data)
Net revenues	$	6,538		$	6,062		$	6,355		$	6,913
Gross profit	2,593			2,469			2,516			2,759
(Provision)/benefit for income taxes ⁽¹⁾	(189		)	(216		)	633			(230		)
Gain/(loss) on equity method investment transactions	23			(25		)	—			—
Equity method investment net earnings	113			113			111			105
Net earnings	920			808			1,428			729
Noncontrolling interest	(6		)	(1		)	(5		)	(3		)
Net earnings attributable to Mondelēz International	$	914		$	807		$	1,423		$	726
Weighted-average shares for basic EPS	1,449			1,445			1,445			1,441
Plus incremental shares from assumed conversions of stock options and long-term incentive plan shares	12			13			13			12
Weighted-average shares for diluted EPS	1,461			1,458			1,458			1,453
Per share data:
Basic EPS attributable to Mondelēz International:	$	0.63		$	0.56		$	0.98		$	0.50
Diluted EPS attributable to Mondelēz International:	$	0.63		$	0.55		$	0.98		$	0.50
Dividends declared	$	0.26		$	0.26		$	0.285		$	0.285



	2018 Quarters
	First			Second			Third			Fourth
	(in millions, except per share data)
Net revenues	$	6,765		$	6,112		$	6,288		$	6,773
Gross profit	2,849			2,540			2,414			2,549
Provision for income taxes	(337		)	(15		)	(310		)	(111		)
Gain on equity method investment transactions	—			—			757			21
Equity method investment net earnings	232			87			80			149
Net earnings	1,052			320			1,197			826
Noncontrolling interest	(6		)	(2		)	(3		)	(3		)
Net earnings attributable to Mondelēz International	$	1,046		$	318		$	1,194		$	823
Weighted-average shares for basic EPS	1,489			1,475			1,466			1,457
Plus incremental shares from assumed conversions of stock options and long-term incentive plan shares	16			13			14			13
Weighted-average shares for diluted EPS	1,505			1,488			1,480			1,470
Per share data:
Basic EPS attributable to Mondelēz International:	$	0.70		$	0.22		$	0.81		$	0.56
Diluted EPS attributable to Mondelēz International:	$	0.70		$	0.21		$	0.81		$	0.56
Dividends declared	$	0.22		$	0.22		$	0.26		$	0.26


(1)	The third quarter of 2019 was significantly impacted by the $769 million net deferred tax benefit related to Swiss tax reform. Refer to Note 16, Income Taxes for more information.

Basic and diluted EPS are computed independently for each of the periods presented. Accordingly, the sum of the quarterly EPS amounts may not equal the total for the year.

During 2019 and 2018, we recorded the following pre-tax (charges)/benefits in earnings from continuing operations:



	2019 Quarters
	First			Second			Third			Fourth
	(in millions)
Asset impairment and exit costs	$	(20	)	$	(15	)	$	(134	)	$	(59	)
Divestiture-related costs	1			(11		)	4			—
Net gain on divestiture	—			41			3			—
Impact from pension participation changes	—			35			(3		)	(3		)
Impact from the resolution of tax matters	—			—			—			(85		)
Loss related to interest rate swaps	—			—			(111		)	—
Net gain/(loss) on equity method investment transactions	23			(25		)	—			—
	$	4		$	25		$	(241	)	$	(147	)



	2018 Quarters
	First			Second			Third			Fourth
	(in millions)
Asset impairment and exit costs	$	(54	)	$	(111	)	$	(125	)	$	(99	)
Divestiture-related costs	3			—			—			(2		)
Impact from pension participation changes	—			(409		)	(3		)	(17		)
Impact from the resolution of tax matters	—			(15		)	—			26
Gain/(loss) related to interest rate swaps	14			(5		)	1			—
Loss on early extinguishment of debt and related expenses	—			(140		)	—			—
Gain on equity method investment transaction	—			—			757			21
	$	(37	)	$	(680	)	$	630		$	(71	)

Items impacting our operating results are discussed in Note 1, Summary of Significant Accounting Policies, Note 2, Divestitures and Acquisitions, Note 6, Goodwill and Intangible Assets, Note 7, Equity Method Investments, Note 8, Restructuring Program, Note 9, Debt and Borrowing Arrangements, Note 10, Financial Instruments, Note 11, Benefit Plans and Note 14, Commitments and Contingencies – Tax Matters.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Description of Business

Description of Business:

Principles of Consolidation

Principles of Consolidation:

Use of Estimates

Use of Estimates:

Currency Translation and Highly Inflationary Accounting

Currency Translation and Highly Inflationary Accounting:

Cash and Cash Equivalents

Cash, Cash Equivalents and Restricted Cash:

Cash and cash equivalents include demand deposits with banks and all highly liquid investments with original maturities of three months or less.

Transfers of Financial Assets

Transfers of Financial Assets:

Inventories

Inventories:

We record our inventory using the average cost method and record inventory allowances for overstock and obsolete inventory.

Long-Lived Assets

Long-Lived Assets:

Leases

Leases:

Software Costs

Software Costs:

Goodwill and Non-Amortizable Intangible Assets

Goodwill and Non-Amortizable Intangible Assets:

Insurance and Self-Insurance

Insurance and Self-Insurance:

Revenue Recognition

Revenue Recognition:

Marketing, Advertising and Research and Development

Marketing, Advertising and Research and Development:

Stock-based Compensation

Stock-based Compensation:

Employee Benefit Plans

Employee Benefit Plans:

Financial Instruments

Financial Instruments:

Income Taxes

Income Taxes:

New Accounting Pronouncements

New Accounting Pronouncements:

Segment Reporting

Our operations and management structure are organized into four operating segments:


•	Latin America


•	AMEA


•	Europe


•	North America

Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Abstract]

Schedule of Components of Property, Plant and Equipment

Property, plant and equipment consisted of the following:



	As of December 31,
	2019			2018
	(in millions)
Land and land improvements	$	422		$	424
Buildings and building improvements	3,140			2,984
Machinery and equipment	11,295			10,943
Construction in progress	680			894
	15,537			15,245
Accumulated depreciation	(6,804		)	(6,763		)
Property, plant and equipment, net	$	8,733		$	8,482

Schedule of Changes Related to Property in Connection with Restructuring Program

These charges related to property, plant and equipment

were recorded in the consolidated statements of earnings within asset impairment and exit costs and in the segment results as follows:



	For the Years Ended December 31,
	2019			2018		2017
	(in millions)
Latin America	$	—		$	25	$	36
AMEA	(2		)	5		81
Europe	46			15		58
North America	5			13		30
Corporate	1			1		1
Non-cash property, plant and equipment write-downs	$	50		$	59	$	206



	Latin America		AMEA		Europe		North America⁽¹⁾		Corporate⁽²⁾		Total
	(in millions)
For the Year Ended December 31, 2019
Restructuring Costs	$	24	$	18	$	105	$	16	$	13	$	176
Implementation Costs	50		38		103		52		29		272
Total	$	74	$	56	$	208	$	68	$	42	$	448
For the Year Ended December 31, 2018
Restructuring Costs	$	63	$	69	$	132	$	32	$	20	$	316
Implementation Costs	67		39		73		79		57		315
Total	$	130	$	108	$	205	$	111	$	77	$	631
For the Year Ended December 31, 2017
Restructuring Costs	$	93	$	140	$	195	$	84	$	23	$	535
Implementation Costs	43		43		68		58		45		257
Total	$	136	$	183	$	263	$	142	$	68	$	792
Total Project ⁽³⁾
Restructuring Costs	$	517	$	535	$	1,076	$	469	$	129	$	2,726
Implementation Costs	269		206		448		384		307		1,614
Total	$	786	$	741	$	1,524	$	853	$	436	$	4,340


(1)	During 2017-2019, our North America region implementation costs included incremental costs that we incurred related to renegotiating collective bargaining agreements that expired in February 2016 for eight U.S. facilities and related to executing business continuity plans for the North America business.


(2)	Benefit plan non-service income amounts associated with restructuring program activities that are no longer recorded in segment operating income are included in the Corporate column in the table above for all periods presented. The Corporate column also includes minor adjustments for pension settlement losses and rounding.

(3)

Includes all charges recorded since program inception on May 6, 2014 through December 31, 2019.

Leases (Tables)

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Schedule of Components of Lease Costs and Supplemental Cash Flow Information

The components of lease costs were as follows:



	For the Year Ended December 31, 2019
	(in millions)
Operating lease cost	$	222

Finance lease cost:
Amortization of right-of-use assets	29
Interest on lease liabilities	4

Short-term lease cost	39
Variable lease cost	474

Sublease income	(6		)

Total lease cost	$	762

Rent expenses under prior lease accounting rules (ASC 840) recorded in continuing operations were $260 million in 2018 and $284 million in 2017.

Supplemental cash flow information related to leases was as follows:



	For the Year Ended December 31, 2019
	(in millions)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	(234	)
Operating cash flows from finance leases	(4		)
Financing cash flows from finance leases	(27		)

Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	95
Finance leases	99

Schedule of Supplemental Balance Sheet Information Related to Leases

Supplemental balance sheet information related to leases was as follows:



	As of December 31, 2019
	(in millions)
Operating Leases:
Operating lease right-of-use assets, net of amortization	$	568

Other current liabilities	$	178
Long-term operating lease liabilities	403
Total operating lease liabilities	$	581

Finance Leases:
Finance leases, net of amortization (within property, plant & equipment)	$	122

Current portion of long-term debt	$	32
Long-term debt	91
Total finance lease liabilities	$	123

Weighted Average Remaining Lease Term
Operating leases	5.2 years
Finance leases	4.6 years

Weighted Average Discount Rate
Operating leases	3.5		%
Finance leases	3.7		%

Schedule of Future Lease Payments Under Non-cancelable Operating Leases

Future lease payments under non-cancelable leases under the new lease accounting rules (ASC 842) that went into effect on January 1, 2019 were as follows:



	As of December 31, 2019
	Operating Leases			Finance Leases
	(in millions)
Year Ending December 31:
2020	$	197		$	38
2021	146			34
2022	102			23
2023	68			15
2024	42			9
Thereafter	97			15
Total future undiscounted lease payments	$	652		$	134
Less imputed interest	(71		)	(11		)
Total reported lease liability	$	581		$	123

Schedule of Future Lease Payments Under Non-cancelable Finance Leases

Future lease payments under non-cancelable leases under the new lease accounting rules (ASC 842) that went into effect on January 1, 2019 were as follows:



	As of December 31, 2019
	Operating Leases			Finance Leases
	(in millions)
Year Ending December 31:
2020	$	197		$	38
2021	146			34
2022	102			23
2023	68			15
2024	42			9
Thereafter	97			15
Total future undiscounted lease payments	$	652		$	134
Less imputed interest	(71		)	(11		)
Total reported lease liability	$	581		$	123

Schedule of Minimum Rental Commitments Under Non-cancelable Operating Leases

As of December 31, 2018, minimum rental commitments under non-cancelable operating leases under prior lease accounting rules (ASC 840) were (in millions):



2019		2020		2021		2022		2023		Thereafter		Total
$	208	$	165	$	114	$	79	$	57	$	157	$	780

Restructuring Program (Tables)

12 Months Ended

Dec. 31, 2019

Restructuring and Related Activities [Abstract]

Schedule of Restructuring Program Liability

The Simplify to Grow Program liability activity for the years ended December 31, 2019 and 2018 was:



	Severance and related costs			Asset Write-downs			Total
	(in millions)
Liability Balance, January 1, 2018	$	464		$	—		$	464
Charges ⁽¹⁾	253			63			316
Cash spent	(310		)	—			(310		)
Non-cash settlements/adjustments	(4		)	(63		)	(67		)
Currency	(30		)	—			(30		)
Liability Balance, December 31, 2018	$	373		$	—		$	373
Charges ⁽¹⁾	125			51			176
Cash spent	(162		)	—			(162		)
Non-cash settlements/adjustments ⁽²⁾	(31		)	(51		)	(82		)
Currency	(4		)	—			(4		)
Liability Balance, December 31, 2019	$	301		$	—		$	301


(1)	Includes settlement losses of $5 million in 2019 and $5 million in 2018 recorded within benefit plan non-service income on our consolidated statements of earnings.


(2)	We adopted the new lease accounting ASU as of January 1, 2019. The ASU requires recording onerous lease liabilities netted with right of use assets. Therefore, during the first quarter of 2019, we reclassified onerous lease liabilities that totaled $23 million as of March 31, 2019, from accrued liabilities and other accrued liabilities to operating lease right of use assets.

Schedule of Restructuring and Implementation Costs

These charges related to property, plant and equipment

were recorded in the consolidated statements of earnings within asset impairment and exit costs and in the segment results as follows:



	For the Years Ended December 31,
	2019			2018		2017
	(in millions)
Latin America	$	—		$	25	$	36
AMEA	(2		)	5		81
Europe	46			15		58
North America	5			13		30
Corporate	1			1		1
Non-cash property, plant and equipment write-downs	$	50		$	59	$	206



	Latin America		AMEA		Europe		North America⁽¹⁾		Corporate⁽²⁾		Total
	(in millions)
For the Year Ended December 31, 2019
Restructuring Costs	$	24	$	18	$	105	$	16	$	13	$	176
Implementation Costs	50		38		103		52		29		272
Total	$	74	$	56	$	208	$	68	$	42	$	448
For the Year Ended December 31, 2018
Restructuring Costs	$	63	$	69	$	132	$	32	$	20	$	316
Implementation Costs	67		39		73		79		57		315
Total	$	130	$	108	$	205	$	111	$	77	$	631
For the Year Ended December 31, 2017
Restructuring Costs	$	93	$	140	$	195	$	84	$	23	$	535
Implementation Costs	43		43		68		58		45		257
Total	$	136	$	183	$	263	$	142	$	68	$	792
Total Project ⁽³⁾
Restructuring Costs	$	517	$	535	$	1,076	$	469	$	129	$	2,726
Implementation Costs	269		206		448		384		307		1,614
Total	$	786	$	741	$	1,524	$	853	$	436	$	4,340


(1)	During 2017-2019, our North America region implementation costs included incremental costs that we incurred related to renegotiating collective bargaining agreements that expired in February 2016 for eight U.S. facilities and related to executing business continuity plans for the North America business.


(2)	Benefit plan non-service income amounts associated with restructuring program activities that are no longer recorded in segment operating income are included in the Corporate column in the table above for all periods presented. The Corporate column also includes minor adjustments for pension settlement losses and rounding.

(3)

Includes all charges recorded since program inception on May 6, 2014 through December 31, 2019.

Debt and Borrowing Arrangements (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Schedule of Short-Term Borrowings and Related Weighted-Average Interest Rates

Our short-term borrowings and related weighted-average interest rates consisted of:



	As of December 31,
	2019				2018
	Amount Outstanding		Weighted- Average Rate		Amount Outstanding		Weighted- Average Rate
	(in millions)				(in millions)
Commercial paper	$	2,581	2.0	%	$	3,054	2.9	%
Bank loans	57		5.2	%	138		10.5	%
Total short-term borrowings	$	2,638			$	3,192

Schedule of Long-Term Debt

Our long-term debt consisted of (interest rates are as of December 31, 2019):



	As of December 31,
	2019			2018
	(in millions)
U.S. dollar notes, 0.163% to 7.000% (weighted-average effective rate 3.107%), due through 2048	$	9,442		$	9,492
Euro notes, 0.875% to 2.375% (weighted-average effective rate 1.696%), due through 2035	3,968			3,492
Pound sterling notes, 3.875% to 4.500% (weighted-average effective rate 4.151%), due through 2045	346			333
Swiss franc notes, 0.050% to 1.125% (weighted-average effective rate 0.703%), due through 2025	1,449			1,424
Canadian dollar notes, 3.250% (effective rate 3.320%), due through 2025	460			437
Finance leases and other obligations	123			2
Total	15,788			15,180
Less current portion of long-term debt	(1,581		)	(2,648		)
Long-term debt	$	14,207		$	12,532

Schedule of Aggregate Maturities of Debt and Capital Leases Based on Stated Contractual Maturities



2020	2021	2022	2023	2024	Thereafter	Total
$1,587	$3,356	$1,739	$1,824	$1,834	$5,535	$15,875

Schedule of Interest and Other Expense Net Within Results of Continuing Operations

Interest and other expense, net within our results of continuing operations consisted of:



	For the Years Ended December 31,
	2019			2018			2017
	(in millions)
Interest expense, debt	$	484		$	462		$	396
Loss on debt extinguishment and related expenses	—			140			11
Loss/(gain) related to interest rate swaps	111			(10		)	—
Other (income)/expense, net	(139		)	(72		)	(25		)
Interest and other expense, net	$	456		$	520		$	382

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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Derivative Instruments and Hedging Activities Disclosures [Line Items]

Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of Effects of Derivative Instruments

Pre-tax gains/(losses) recorded in net earnings for economic hedges were:



	For the Years Ended December 31,									Recognized in Earnings
	2019			2018			2017			Recognized in Earnings
	(in millions)
Currency exchange contracts:
Intercompany loans and forecasted interest payments	$	100		$	98		$	13		Interest and other expense, net
Forecasted transactions	17			103			(37		)	Cost of sales
Forecasted transactions	(3		)	(4		)	(2		)	Interest and other expense, net
Forecasted transactions	(8		)	(3		)	3			Selling, general and administrative expenses
Commodity contracts	67			40			(218		)	Cost of sales
Total	$	173		$	234		$	(241	)

Cash Flow Hedges

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Schedule of Cash Flow Hedges Effect on Accumulated Other Comprehensive Earnings/(Losses), Net of Taxes

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



	For the Years Ended December 31,
	2019			2018			2017
	(in millions)
Accumulated (loss)/gain at beginning of period	$	(167	)	$	(113	)	$	(121	)
Transfer of realized (gains)/losses in fair value to earnings	154			(9		)	27
Unrealized gain/(loss) in fair value	(199		)	(45		)	(19		)
Accumulated (loss)/gain at end of period	$	(212	)	$	(167	)	$	(113	)

Schedule of Effects of Derivative Instruments

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



	For the Years Ended December 31,
	2019			2018		2017
	(in millions)
Currency exchange contracts – forecasted transactions	$	—		$	—	$	(3	)
Commodity contracts	—			—		(24		)
Interest rate contracts	(154		)	9		—
Total	$	(154	)	$	9	$	(27	)

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



	For the Years Ended December 31,
	2019			2018			2017
	(in millions)
Currency exchange contracts – forecasted transactions	$	3		$	—		$	(38	)
Commodity contracts	—			—			7
Interest rate contracts	(202		)	(45		)	12
Total	$	(199	)	$	(45	)	$	(19	)

Net Investment Hedging

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Schedule of Hedges of Net Investments in International Operations



	For the Years Ended December 31,
	2019			2018		2017
	(in millions)
Euro notes	$	60		$	126	$	(323	)
British pound sterling notes	(10		)	19		(26		)
Swiss franc notes	(19		)	7		(49		)
Canadian notes	(17		)	17		—

As of December 31, 2019, the aggregate notional value of these NIH derivative contracts was $6.9 billion and their impact on other comprehensive earnings and net earnings during the years presented below were as follows:



	For the Years Ended December 31,
	2019			2018		2017
	(in millions)
After-tax gain/(loss) on NIH contracts⁽¹⁾	$	(6	)	$	191	$	—


(1)	Amounts recorded for unsettled and settled NIH derivative contracts are recorded in the cumulative translation adjustment within other comprehensive earnings. The cash flows from the settled contracts are reported within other investing activities in the consolidated statement of cash flows.



	For the Years Ended December 31,
	2019		2018		2017
	(in millions)
Amounts excluded from the assessment of hedge effectiveness⁽¹⁾	$	133	$	120	$	—

(1)

We elected to record changes in the fair value of amounts excluded from the assessment of effectiveness in net earnings within interest and other expense, net.

Derivatives

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Schedule of Fair Value of Derivative Instruments

Derivative instruments were recorded at fair value in the consolidated balance sheets as follows:



	As of December 31,
	2019				2018
	Asset Derivatives		Liability Derivatives		Asset Derivatives		Liability Derivatives
	(in millions)
Derivatives designated as accounting hedges:
Interest rate contracts	$	19	$	190	$	17	$	355
Net investment hedge derivative contracts ⁽¹⁾	312		65		337		28
	$	331	$	255	$	354	$	383
Derivatives not designated as accounting hedges:
Currency exchange contracts	$	67	$	50	$	72	$	37
Commodity contracts	201		120		191		210
	$	268	$	170	$	263	$	247
Total fair value	$	599	$	425	$	617	$	630

(1)

Schedule of Derivative instruments Fair Value and Measurement Inputs

The fair values (asset/(liability)) of our derivative instruments were determined using:



	As of December 31, 2019
	Total Fair Value of Net Asset/(Liability)			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
	(in millions)
Currency exchange contracts	$	17		$	—	$	17		$	—
Commodity contracts	81			27		54			—
Interest rate contracts	(171		)	—		(171		)	—
Net investment hedge contracts	247			—		247			—
Total derivatives	$	174		$	27	$	147		$	—



	As of December 31, 2018
	Total Fair Value of Net Asset/(Liability)			Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
	(in millions)
Currency exchange contracts	$	35		$	—		$	35		$	—
Commodity contracts	(19		)	(1		)	(18		)	—
Interest rate contracts	(338		)	—			(338		)	—
Net investment hedge contracts	309			—			309			—
Total derivatives	$	(13	)	$	(1	)	$	(12	)	$	—

Schedule of Notional Values of Derivative Instruments

The gross notional values of our derivative instruments were:



	Notional Amount
	As of December 31,
	2019		2018
	(in millions)
Currency exchange contracts:
Intercompany loans and forecasted interest payments	$	2,474	$	3,239
Forecasted transactions	3,993		2,396
Commodity contracts⁽¹⁾	7,238		6,706
Interest rate contracts	5,250		8,679
Net investment hedges:
Net investment hedge derivative contracts	6,864		6,678
Non-U.S. dollar debt designated as net investment hedges
Euro notes	3,436		3,514
British pound sterling notes	349		336
Swiss franc notes	1,448		1,424
Canadian dollar notes	462		440

(1)

During the fourth quarter of 2019, we changed how we report our commodity contract notional values from a net to a gross basis in line with how we report our other instruments. We have recast 2018 to be consistent with current year presentation.

Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2019

Pension Plans

Schedule of Projected Benefit Obligations, Plan Assets and Funded Status of Pension Plans

The projected benefit obligations, plan assets and funded status of our pension plans were:



	U.S. Plans						Non-U.S. Plans
	2019			2018			2019			2018
	(in millions)
Projected benefit obligation at January 1	$	1,511		$	1,762		$	9,578		$	10,852
Service cost	38			43			122			146
Interest cost	60			61			202			199
Benefits paid	(40		)	(29		)	(424		)	(462		)
Settlements paid	(73		)	(118		)	(1		)	(2		)
Actuarial (gains)/losses	251			(208		)	761			(640		)
Currency	—			—			207			(528		)
Other	1			—			13			13
Projected benefit obligation at December 31	1,748			1,511			10,458			9,578
Fair value of plan assets at January 1	1,510			1,717			8,465			9,327
Actual return on plan assets	334			(99		)	1,211			(243		)
Contributions	8			39			261			323
Benefits paid	(40		)	(29		)	(424		)	(462		)
Settlements paid	(73		)	(118		)	(1		)	(2		)
Currency	—			—			246			(478		)
Fair value of plan assets at December 31	1,739			1,510			9,758			8,465
Net pension (liabilities)/assets at December 31	$	(9	)	$	(1	)	$	(700	)	$	(1,113	)

Schedule of Pension Plans Resulted in Net Pension Liability



	As of December 31,
	2019			2018
	(in millions)
Prepaid pension assets	$	516		$	132
Other current liabilities	(35		)	(25		)
Accrued pension costs	(1,190		)	(1,221		)
	$	(709	)	$	(1,114	)

Schedule of Projected Benefit Obligations, Accumulated Benefit Obligations and Fair Value of Plan Assets



	U.S. Plans				Non-U.S. Plans
	As of December 31,				As of December 31,
	2019		2018		2019		2018
	(in millions)
Projected benefit obligation	$	55	$	52	$	3,613	$	3,343
Accumulated benefit obligation	55		50		3,447		3,194
Fair value of plan assets	2		2		2,443		2,169

Schedule of Weighted-Average Assumptions Used to Determine Benefit Obligations

We used the following weighted-average assumptions to determine our benefit obligations under the pension plans:



	U.S. Plans				Non-U.S. Plans
	As of December 31,				As of December 31,
	2019		2018		2019		2018
Discount rate	3.44	%	4.40	%	1.74	%	2.45	%
Expected rate of return on plan assets	5.00	%	5.75	%	4.20	%	4.80	%
Rate of compensation increase	4.00	%	4.00	%	3.17	%	3.31	%

We used the following weighted-average assumptions to determine our net periodic pension cost:



	U.S. Plans						Non-U.S. Plans
	For the Years Ended December 31,						For the Years Ended December 31,
	2019		2018		2017		2019		2018		2017
Discount rate	4.40	%	3.68	%	4.19	%	2.45	%	2.20	%	2.31	%
Expected rate of return on plan assets	5.75	%	5.50	%	6.25	%	4.80	%	4.90	%	5.14	%
Rate of compensation increase	4.00	%	4.00	%	4.00	%	3.31	%	3.31	%	3.29	%

Schedule of Components of Net Costs

Net periodic pension cost consisted of the following:



	U.S. Plans									Non-U.S. Plans
	For the Years Ended December 31,									For the Years Ended December 31,
	2019			2018			2017			2019			2018			2017
	(in millions)
Service cost	$	38		$	43		$	46		$	122		$	146		$	156
Interest cost	60			61			62			202			199			199
Expected return on plan assets	(88		)	(88		)	(101		)	(404		)	(448		)	(434		)
Amortization:
Net loss from experience differences	30			32			37			148			163			167
Prior service cost/(benefit)	1			2			2			(6		)	(2		)	(3		)
Settlement losses and other expenses ⁽¹⁾	16			35			35			(3		)	5			6
Net periodic pension cost	$	57		$	85		$	81		$	59		$	63		$	91

(1)

Schedule of Changes in Level 3 Plan Assets

Changes in our Level 3 plan assets, which are recorded in other comprehensive earnings/(losses), included:



Asset Category	January 1, 2019 Balance		Net Realized and Unrealized Gains/ (Losses)		Net Purchases, Issuances and Settlements			Net Transfers Into/(Out of) Level 3		Currency Impact			December 31, 2019 Balance
	(in millions)
Corporate bond and other fixed-income securities	$	1,032	$	8	$	727		$	—	$	69		$	1,836
Real estate	22		36		3			—		1			62
Private equity and other	3		1		—			—		—			4
Total Level 3 investments	$	1,057	$	45	$	730		$	—	$	70		$	1,902

Asset Category	January 1, 2018 Balance		Net Realized and Unrealized Gains/ (Losses)		Net Purchases, Issuances and Settlements			Net Transfers Into/(Out of) Level 3		Currency Impact			December 31, 2018 Balance
	(in millions)
Corporate bond and other fixed-income securities	$	790	$	62	$	236		$	—	$	(56	)	$	1,032
Real estate	23		1		(1		)	—		(1		)	22
Private equity and other	3		—		—			—		—			3
Total Level 3 investments	$	816	$	63	$	235		$	—	$	(57	)	$	1,057

Schedule of Fair Values of Pension Plan Assets

The percentage of fair value of pension plan assets was:



	U.S. Plans				Non-U.S. Plans
	As of December 31,				As of December 31,
Asset Category	2019		2018		2019		2018
Equity securities	15	%	15	%	26	%	26	%
Fixed-income securities	85	%	85	%	54	%	59	%
Real estate	—		—		6	%	6	%
Hedge funds	—		—		1	%	2	%
Buy-in annuity policies	—		—		12	%	6	%
Cash	—		—		1	%	1	%
Total	100	%	100	%	100	%	100	%

The fair value of pension plan assets was determined using the following fair value measurements:



	As of December 31, 2019
Asset Category	Total Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(in millions)
U.S. equity securities	$	2	$	2	$	—	$	—
Non-U.S. equity securities	2		2		—		—
Pooled funds - equity securities	2,186		890		1,296		—
Total equity securities	2,190		894		1,296		—
Government bonds	3,328		53		3,275		—
Pooled funds - fixed-income securities	575		417		158		—
Corporate bonds and other fixed-income securities	2,727		66		825		1,836
Total fixed-income securities	6,630		536		4,258		1,836
Real estate	186		124		—		62
Private equity	3		—		—		3
Cash	122		117		5		—
Other	2		1		—		1
Total assets in the fair value hierarchy	$	9,133	$	1,672	$	5,559	$	1,902
Investments measured at net asset value	2,297
Total investments at fair value	$	11,430



	As of December 31, 2018
Asset Category	Total Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(in millions)
U.S. equity securities	$	2	$	2	$	—	$	—
Non-U.S. equity securities	5		5		—		—
Pooled funds - equity securities	1,951		743		1,208		—
Total equity securities	1,958		750		1,208		—
Government bonds	3,156		62		3,094		—
Pooled funds - fixed-income securities	573		429		144		—
Corporate bonds and other fixed-income securities	2,050		87		931		1,032
Total fixed-income securities	5,779		578		4,169		1,032
Real estate	130		108		—		22
Private equity	2		—		—		2
Cash	44		32		12		—
Other	2		1		—		1
Total assets in the fair value hierarchy	$	7,915	$	1,469	$	5,389	$	1,057
Investments measured at net asset value	1,993
Total investments at fair value	$	9,908

Schedule of Estimated Future Benefit Payments

The estimated future benefit payments from our pension plans at December 31, 2019 were (in millions):



	2020		2021		2022		2023		2024		2025-2029
U.S. Plans	$	167	$	102	$	105	$	105	$	108	$	513
Non-U.S. Plans	380		376		385		395		403		2,126

Postretirement Health Care Plan

Schedule of Weighted-Average Assumptions Used to Determine Benefit Obligations

We used the following weighted-average assumptions to determine our net periodic postretirement health care cost:



	U.S. Plans			Non-U.S. Plans
	For the Years Ended December 31,			For the Years Ended December 31,
	2019	2018	2017	2019	2018	2017
Discount rate	4.37%	3.66%	4.14%	4.40%	4.24%	4.55%
Health care cost trend rate	6.25%	6.25%	6.50%	5.44%	5.56%	5.50%

Schedule of Components of Net Costs

Net periodic postretirement health care costs consisted of the following:



	For the Years Ended December 31,
	2019			2018			2017
	(in millions)
Service cost	$	5		$	6		$	7
Interest cost	15			14			15
Amortization:
Net loss from experience differences	6			15			14
Prior service credit	(38		)	(39		)	(40		)
Net periodic postretirement health care costs/(benefit)	$	(12	)	$	(4	)	$	(4	)

Schedule of Estimated Future Benefit Payments

Our estimated future benefit payments for our postretirement health care plans at December 31, 2019 were (in millions):



	2020		2021		2022		2023		2024		2025-2029
U.S. Plans	$	11	$	12	$	13	$	14	$	15	$	74
Non-U.S. Plans	5		5		5		6		6		32

Schedule of Changes in Accumulated Postemployment Benefit Obligations

Our postretirement health care plans are not funded. The changes in and the amount of the accrued benefit obligation were:



	As of December 31,
	2019			2018
	(in millions)
Accrued benefit obligation at January 1	$	366		$	435
Service cost	5			6
Interest cost	15			15
Benefits paid	(16		)	(19		)
Currency	5			(11		)
Assumption changes	34			(39		)
Actuarial losses/(gains)	(6		)	(21		)
Accrued benefit obligation at December 31	$	403		$	366

Schedule of Weighted-Average Assumptions to Determine Benefit Obligations

We used the following weighted-average assumptions to determine our postretirement benefit obligations:



	U.S. Plans				Non-U.S. Plans
	As of December 31,				As of December 31,
	2019		2018		2019		2018
Discount rate	3.41	%	4.37	%	3.86	%	4.40	%
Health care cost trend rate assumed for next year	6.00	%	6.25	%	5.42	%	5.44	%
Ultimate trend rate	5.00	%	5.00	%	5.42	%	5.44	%
Year that the rate reaches the ultimate trend rate	2024		2024		2019		2018

Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates

A one-percentage-point change in assumed health care cost trend rates would have the following effects:



	As of December 31, 2019
	One-Percentage-Point
	Increase		Decrease
	(in millions)
Effect on postretirement benefit obligation	$	39	$	(33	)
Effect on annual service and interest cost	3		(2		)

Postemployment Benefit Plans

Schedule of Components of Net Costs

Our postemployment plans are not funded. The changes in and the amount of the accrued benefit obligation at December 31, 2019 and 2018 were:



	As of December 31,
	2019			2018
	(in millions)
Accrued benefit obligation at January 1	$	74		$	76
Service cost	6			6
Interest cost	5			4
Benefits paid	(9		)	(7		)
Assumption changes	3			(1		)
Actuarial losses/(gains)	(13		)	(4		)
Accrued benefit obligation at December 31	$	66		$	74

Schedule of Changes in Accumulated Postemployment Benefit Obligations

Net periodic postemployment costs consisted of the following:



	For the Years Ended December 31,
	2019			2018			2017
	(in millions)
Service cost	$	6		$	6		$	5
Interest cost	5			4			4
Amortization of net gains	(4		)	(3		)	(3		)
Net periodic postemployment costs	$	7		$	7		$	6

Stock Plans (Tables)

12 Months Ended

Dec. 31, 2019

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Weighted-Average Black-Scholes Fair Value Assumptions

Our weighted-average Black-Scholes and Lattice Model fair value assumptions were:



	Risk-Free Interest Rate		Expected Life	Expected Volatility		Expected Dividend Yield		Fair Value at Grant Date
2019	2.46	%	5 years	19.96	%	2.37	%	$	7.83
2018	2.68	%	5 years	20.96	%	2.02	%	$	8.30
2017	2.04	%	6 years	22.75	%	1.74	%	$	8.57

Schedule of Stock Options Activity

Stock option activity is reflected below:



	Shares Subject to Option		Weighted- Average Exercise or Grant Price Per Share		Average Remaining Contractual Term	Aggregate Intrinsic Value
Balance at January 1, 2017	53,601,612		$	28.02		$	874	million
Annual grant to eligible employees	6,012,140		43.20
Additional options issued	162,880		42.54
Total options granted	6,175,020		43.18
Options exercised ⁽¹⁾	(9,431,009	)	26.17			$	170	million
Options cancelled	(1,910,968	)	38.10
Balance at December 31, 2017	48,434,655		29.92			$	626	million
Annual grant to eligible employees	5,666,530		43.51
Additional options issued	168,306		31.40
Total options granted	5,834,836		43.16
Options exercised ⁽¹⁾	(9,333,271	)	25.16			$	170	million
Options cancelled	(1,117,390	)	42.93
Balance at December 31, 2018	43,818,830		32.36			$	371	million
Annual grant to eligible employees	4,793,570		47.72
Additional options issued	68,420		50.82
Total options granted	4,861,990		47.76
Options exercised ⁽¹⁾	(13,668,354	)	27.53			$	306	million
Options cancelled	(1,156,518	)	42.22
Balance at December 31, 2019	33,855,948		36.19		5 years	$	640	million
Exercisable at December 31, 2019	25,121,711		32.89		4 years	$	557	million

(1)

Cash received from options exercised was $369 million in 2019, $231 million in 2018 and $257 million in 2017. The actual tax benefit realized and recorded in the provision for income taxes for the tax deductions from the option exercises totaled $40 million in 2019, $21 million in 2018 and $31 million in 2017.

Deferred Stock Units, Performance Units and Restricted Stock

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Deferred Stock Units, Performance Share Units and Restricted Stock Activity

Our performance share unit, deferred stock unit and restricted stock activity is reflected below:



	Number of Shares		Grant Date	Weighted-Average Fair Value Per Share (4)		Weighted-Average Aggregate Fair Value (3)
Balance at January 1, 2017	7,593,627			$	36.90
Annual grant to eligible employees:			Feb. 16, 2017
Performance share units	1,087,010			43.14
Deferred stock units	845,550			43.20
Additional shares granted ⁽¹⁾	1,537,763		Various	42.22
Total shares granted	3,470,323			42.75		$	148	million
Vested ^{(2) (3)}	(2,622,807	)		35.78		$	94	million
Forfeited ⁽²⁾	(771,438	)		38.69
Balance at December 31, 2017	7,669,705			39.74
Annual grant to eligible employees:			Feb. 22, 2018
Performance share units	1,048,770			51.23
Deferred stock units	788,310			43.51
Additional shares granted ⁽¹⁾	446,752		Various	41.78
Total shares granted	2,283,832			46.72		$	107	million
Vested ^{(2) (3)}	(2,511,992	)		38.91		$	98	million
Forfeited ⁽²⁾	(882,535	)		42.00
Balance at December 31, 2018	6,559,010			42.19
Annual grant to eligible employees:			Feb. 22, 2019
Performance share units	891,210			57.91
Deferred stock units	666,880			47.72
Additional shares granted ⁽¹⁾	205,073		Various	54.81
Total shares granted	1,763,163			53.69		$	95	million
Vested ⁽³⁾	(2,007,848	)		37.81		$	76	million
Forfeited	(652,380	)		45.88
Balance at December 31, 2019	5,661,945			46.90


(1)	Includes performance share units and deferred stock units.


(2)	Includes performance share units, deferred stock units and historically granted restricted stock.


(3)	The actual tax benefit/(expense) realized and recorded in the provision for income taxes for the tax deductions from the shares vested totaled $2 million in 2019, $3 million in 2018 and $7 million in 2017.

(4)

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of Provision for Income Taxes

Earnings/(losses) from continuing operations before income taxes and the provision for income taxes consisted of:



	For the Years Ended December 31,
	2019			2018			2017
	(in millions)
Earnings/(losses) from continuing operations before income taxes:
United States	$	751		$	(170	)	$	354
Outside United States	2,696			3,012			2,770
	$	3,447		$	2,842		$	3,124
Provision for income taxes:
United States federal:
Current	$	145		$	(34	)	$	1,322
Deferred	97			171			(1,274		)
	242			137			48
State and local:
Current	29			23			32
Deferred	45			61			30
	74			84			62
Total United States	316			221			110

Outside United States:
Current	459			552			541
Deferred	(773		)	—			15
Total outside United States	(314		)	552			556

Total provision for income taxes	$	2		$	773		$	666

Schedule of Effective Income Tax Rate Reconciliation

The effective income tax rate on pre-tax earnings differed from the U.S. federal statutory rate as follows:



	For the Years Ended December 31,
	2019		2018		2017
U.S. federal statutory rate	21.0	%	21.0	%	35.0	%
Increase/(decrease) resulting from:
State and local income taxes, net of federal tax benefit	1.3	%	0.4	%	0.8	%
Foreign rate differences	0.2	%	(1.9	)%	(10.8	)%
Changes in judgment on realizability of deferred tax assets	(0.3	)%	(0.4	)%	3.2	%
Reversal of other tax accruals no longer required	(3.0	)%	(1.8	)%	(1.7	)%
Tax accrual on investment in Keurig (including tax impact of the gain from the KDP transaction)	0.8	%	8.4	%	1.2	%
Excess tax benefits from equity compensation	(1.2	)%	(0.8	)%	(1.2	)%
Tax legislation (non-U.S. and non-Swiss tax reform)	0.4	%	0.3	%	(2.6	)%
Swiss tax reform	(22.3	)%	—		—	%
U.S. tax reform - deferred benefit from tax rate change	—		—		(41.5	)%
U.S. tax reform - transition tax	0.1	%	(1.3	)%	42.2	%
U.S. tax reform - changes in indefinite reinvestment assertion	—		2.1	%	(2.0	)%
Foreign tax provisions under TCJA (GILTI, FDII and BEAT)⁽¹⁾	2.5	%	1.1	%	—
Other	0.6	%	0.1	%	(1.3	)%
Effective tax rate	0.1	%	27.2	%	21.3	%


(1)	The Tax Cuts and Jobs Act of 2017 ("TCJA") established the Global Intangible Low-Tax Income ("GILTI") provision, which taxes U.S. allocated expenses and certain income from foreign operations; the Foreign-Derived Intangible Income ("FDII")

Schedule of Deferred Tax Assets and Liabilities Temporary Differences

Tax effects of temporary differences that gave rise to deferred income tax assets and liabilities consisted of:



	As of December 31,
	2019			2018
	(in millions)
Deferred income tax assets:
Accrued postretirement and postemployment benefits	$	150		$	147
Accrued pension costs	272			349
Other employee benefits	160			147
Accrued expenses	287			283
Loss carryforwards	589			707
Tax credit carryforwards	729			747
Other	438			302
Total deferred income tax assets	2,625			2,682
Valuation allowance	(1,243		)	(1,153		)
Net deferred income tax assets	$	1,382		$	1,529
Deferred income tax liabilities:
Intangible assets, including impact from Swiss tax reform	$	(2,772	)	$	(3,861	)
Property, plant and equipment	(663		)	(473		)
Other	(559		)	(492		)
Total deferred income tax liabilities	(3,994		)	(4,826		)
Net deferred income tax liabilities	$	(2,612	)	$	(3,297	)

Schedule of Changes in Unrecognized Tax Benefit

The changes in our unrecognized tax benefits were:



	For the Years Ended December 31,
	2019			2018			2017
	(in millions)
January 1	$	516		$	579		$	610
Increases from positions taken during prior periods	27			36			33
Decreases from positions taken during prior periods	(35		)	(43		)	(93		)
Increases from positions taken during the current period	50			57			64
Decreases relating to settlements with taxing authorities	(64		)	(45		)	(54		)
Reductions resulting from the lapse of the applicable statute of limitations	(64		)	(31		)	(29		)
Currency/other	(4		)	(37		)	48
December 31	$	426		$	516		$	579

Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

Schedule of Net Revenues by Segment

Our segment net revenues and earnings, reflecting our current segment structure for all periods presented, were:



	For the Years Ended December 31,
	2019		2018		2017
	(in millions)
Net revenues:
Latin America	$	3,018	$	3,202	$	3,566
AMEA	5,770		5,729		5,739
Europe	9,972		10,122		9,794
North America	7,108		6,885		6,797
Net revenues	$	25,868	$	25,938	$	25,896

Schedule of Operating Income by Segment



Earnings before income taxes:
Operating income:
Latin America	$	341		$	410		$	564
AMEA	691			702			514
Europe	1,732			1,734			1,610
North America	1,451			849			1,144
Unrealized gains/(losses) on hedging activities (mark-to-market impacts)	91			141			(96		)
General corporate expenses	(330		)	(335		)	(282		)
Amortization of intangibles	(174		)	(176		)	(178		)
Net gains on divestitures	44			—			186
Acquisition-related costs	(3		)	(13		)	—
Operating income	3,843			3,312			3,462
Benefit plan non-service income⁽¹⁾	60			50			44
Interest and other expense, net	(456		)	(520		)	(382		)
Earnings before income taxes	$	3,447		$	2,842		$	3,124

(1)

Schedule of Total Assets, Depreciation Expense and Capital Expenditure by Segment

Total assets, depreciation expense and capital expenditures by segment, reflecting our current segment structure for all periods presented, were:



	For the Years Ended December 31,
	2019		2018		2017
	(in millions)
Total assets:
Latin America ⁽¹⁾	$	4,716	$	4,699	$	4,948
AMEA ⁽¹⁾	9,740		9,571		9,883
Europe ⁽¹⁾	20,354		19,426		21,611
North America ⁽¹⁾	21,637		21,015		20,709
Equity method investments	7,212		7,123		6,193
Unallocated assets and adjustments ⁽²⁾	890		895		(387		)
Total assets	$	64,549	$	62,729	$	62,957


(1)	Segment assets do not reflect outstanding intercompany asset balances as intercompany accounts have been eliminated at a segment level.


(2)	Unallocated assets consist primarily of cash and cash equivalents, deferred income taxes, centrally held property, plant and equipment, prepaid pension assets and derivative financial instrument balances. Final adjustments for jurisdictional netting of deferred tax assets and liabilities is done at a consolidated level.



	For the Years Ended December 31,
	2019		2018		2017
	(in millions)
Depreciation expense ⁽¹⁾:
Latin America	$	105	$	97	$	107
AMEA	164		159		157
Europe	238		248		239
North America	138		131		135
Total depreciation expense	$	645	$	635	$	638


(1)	Includes depreciation expense related to owned property, plant and equipment. Does not include amortization of intangible assets or leased assets. Refer to the consolidated statement of cash flows for 2019 for total depreciation and amortization expenses.



	For the Years Ended December 31,
	2019		2018		2017
	(in millions)
Capital expenditures:
Latin America	$	197	$	261	$	226
AMEA	244		277		280
Europe	297		326		278
North America	187		231		230
Total capital expenditures	$	925	$	1,095	$	1,014

Schedule of Net Revenues by Geographic Area

Geographic data for net revenues (recognized in the countries where products are sold) and long-lived assets, excluding deferred tax, goodwill, intangible assets and equity method investments, were:



	For the Years Ended December 31,
	2019		2018		2017
	(in millions)
Net revenues:
United States	$	6,625	$	6,401	$	6,275
Other	19,243		19,537		19,621
Total net revenues	$	25,868	$	25,938	$	25,896

Schedule of Long-lived Assets by Geographic Area



	As of December 31,
	2019		2018		2017
	(in millions)
Long-lived assets:
United States	$	1,806	$	1,481	$	1,468
Other	8,370		7,539		7,733
Total long-lived assets	$	10,176	$	9,020	$	9,201

Schedule of Net Revenues by Product Category

Net revenues by product category, reflecting our current segment structure for all periods presented, were:



	For the Year Ended December 31, 2019
	Latin America		AMEA		Europe		North America		Total
	(in millions)
Biscuits	$	708	$	1,844	$	2,998	$	5,888	$	11,438
Chocolate	710		2,082		5,119		247		8,158
Gum & Candy	823		861		698		973		3,355
Beverages	452		546		97		—		1,095
Cheese & Grocery	325		437		1,060		—		1,822
Total net revenues	$	3,018	$	5,770	$	9,972	$	7,108	$	25,868



	For the Year Ended December 31, 2018
	Latin America		AMEA		Europe		North America		Total
	(in millions)
Biscuits	$	727	$	1,724	$	3,127	$	5,607	$	11,185
Chocolate	747		2,080		5,083		267		8,177
Gum & Candy	865		879		736		1,011		3,491
Beverages	533		553		98		—		1,184
Cheese & Grocery	330		493		1,078		—		1,901
Total net revenues	$	3,202	$	5,729	$	10,122	$	6,885	$	25,938



	For the Year Ended December 31, 2017
	Latin America		AMEA		Europe		North America		Total
	(in millions)
Biscuits	$	779	$	1,637	$	2,944	$	5,479	$	10,839
Chocolate	862		2,008		4,869		293		8,032
Gum & Candy	919		919		775		1,025		3,638
Beverages	665		569		121		—		1,355
Cheese & Grocery	341		606		1,085		—		2,032
Total net revenues	$	3,566	$	5,739	$	9,794	$	6,797	$	25,896

Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Schedule of Summary of Operating Results

Our summarized operating results by quarter are detailed below.



	2019 Quarters
	First			Second			Third			Fourth
	(in millions, except per share data)
Net revenues	$	6,538		$	6,062		$	6,355		$	6,913
Gross profit	2,593			2,469			2,516			2,759
(Provision)/benefit for income taxes ⁽¹⁾	(189		)	(216		)	633			(230		)
Gain/(loss) on equity method investment transactions	23			(25		)	—			—
Equity method investment net earnings	113			113			111			105
Net earnings	920			808			1,428			729
Noncontrolling interest	(6		)	(1		)	(5		)	(3		)
Net earnings attributable to Mondelēz International	$	914		$	807		$	1,423		$	726
Weighted-average shares for basic EPS	1,449			1,445			1,445			1,441
Plus incremental shares from assumed conversions of stock options and long-term incentive plan shares	12			13			13			12
Weighted-average shares for diluted EPS	1,461			1,458			1,458			1,453
Per share data:
Basic EPS attributable to Mondelēz International:	$	0.63		$	0.56		$	0.98		$	0.50
Diluted EPS attributable to Mondelēz International:	$	0.63		$	0.55		$	0.98		$	0.50
Dividends declared	$	0.26		$	0.26		$	0.285		$	0.285



	2018 Quarters
	First			Second			Third			Fourth
	(in millions, except per share data)
Net revenues	$	6,765		$	6,112		$	6,288		$	6,773
Gross profit	2,849			2,540			2,414			2,549
Provision for income taxes	(337		)	(15		)	(310		)	(111		)
Gain on equity method investment transactions	—			—			757			21
Equity method investment net earnings	232			87			80			149
Net earnings	1,052			320			1,197			826
Noncontrolling interest	(6		)	(2		)	(3		)	(3		)
Net earnings attributable to Mondelēz International	$	1,046		$	318		$	1,194		$	823
Weighted-average shares for basic EPS	1,489			1,475			1,466			1,457
Plus incremental shares from assumed conversions of stock options and long-term incentive plan shares	16			13			14			13
Weighted-average shares for diluted EPS	1,505			1,488			1,480			1,470
Per share data:
Basic EPS attributable to Mondelēz International:	$	0.70		$	0.22		$	0.81		$	0.56
Diluted EPS attributable to Mondelēz International:	$	0.70		$	0.21		$	0.81		$	0.56
Dividends declared	$	0.22		$	0.22		$	0.26		$	0.26


(1)	The third quarter of 2019 was significantly impacted by the $769 million net deferred tax benefit related to Swiss tax reform. Refer to Note 16, Income Taxes for more information.

Schedule of Pre-Tax (Charges)/Gains in Earnings From Continuing Operations

During 2019 and 2018, we recorded the following pre-tax (charges)/benefits in earnings from continuing operations:



	2019 Quarters
	First			Second			Third			Fourth
	(in millions)
Asset impairment and exit costs	$	(20	)	$	(15	)	$	(134	)	$	(59	)
Divestiture-related costs	1			(11		)	4			—
Net gain on divestiture	—			41			3			—
Impact from pension participation changes	—			35			(3		)	(3		)
Impact from the resolution of tax matters	—			—			—			(85		)
Loss related to interest rate swaps	—			—			(111		)	—
Net gain/(loss) on equity method investment transactions	23			(25		)	—			—
	$	4		$	25		$	(241	)	$	(147	)



	2018 Quarters
	First			Second			Third			Fourth
	(in millions)
Asset impairment and exit costs	$	(54	)	$	(111	)	$	(125	)	$	(99	)
Divestiture-related costs	3			—			—			(2		)
Impact from pension participation changes	—			(409		)	(3		)	(17		)
Impact from the resolution of tax matters	—			(15		)	—			26
Gain/(loss) related to interest rate swaps	14			(5		)	1			—
Loss on early extinguishment of debt and related expenses	—			(140		)	—			—
Gain on equity method investment transaction	—			—			757			21
	$	(37	)	$	(680	)	$	630		$	(71	)

Summary of Significant Accounting Policies (Details) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019 USD ($) country	Sep. 30, 2019 USD ($)	Jun. 30, 2019 USD ($)	Mar. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Sep. 30, 2018 USD ($)	Jun. 30, 2018 USD ($)	Mar. 31, 2018 USD ($)	Dec. 31, 2019 USD ($) segment country	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Jul. 01, 2019	Jan. 01, 2019 USD ($)	Dec. 31, 2016 USD ($)
Summary Of Significant Accounting Policies [Line Items]
Number of countries in which products are sold (over 150) \| country	150								150
Number of operating segments \| segment									4
Net revenues	$ 6,913	$ 6,355	$ 6,062	$ 6,538	$ 6,773	$ 6,288	$ 6,112	$ 6,765	$ 25,868	$ 25,938	$ 25,896
Number of countries in which entity operates (over 80) \| country	80								80
Restricted cash recorded within other current assets	$ 37								$ 37
Total cash, cash equivalents and restricted cash	1,328				1,100				1,328	1,100	761			$ 1,741
Outstanding principal amount of receivables sold under factoring arrangement	760				$ 819				760	819	843
Advertising expense									1,208	1,173	1,248
Research and development expense									351	362	366
ASU 2016-02
Summary Of Significant Accounting Policies [Line Items]
Lease related assets													$ 710
Lease related liabilities													$ 730
Europe
Summary Of Significant Accounting Policies [Line Items]
Weighted-average cost of capital rate												5.90%
North America
Summary Of Significant Accounting Policies [Line Items]
Weighted-average cost of capital rate												5.90%
Latin America
Summary Of Significant Accounting Policies [Line Items]
Risk-rated discount rate												8.90%
AMEA
Summary Of Significant Accounting Policies [Line Items]
Risk-rated discount rate												8.90%
Maximum
Summary Of Significant Accounting Policies [Line Items]
Incremental cost of factoring receivables									$ 10	10	$ 10
Machinery and equipment \| Minimum
Summary Of Significant Accounting Policies [Line Items]
Useful life, in years									3 years
Machinery and equipment \| Maximum
Summary Of Significant Accounting Policies [Line Items]
Useful life, in years									20 years
Buildings and building improvements \| Maximum
Summary Of Significant Accounting Policies [Line Items]
Useful life, in years									40 years
Software \| Maximum
Summary Of Significant Accounting Policies [Line Items]
Useful life, in years									7 years
Argentina
Summary Of Significant Accounting Policies [Line Items]
Net monetary liabilities (less than)	$ 1								$ 1
Net revenues									$ 382
Percentage of consolidated net revenues									1.50%
U.K. \| Geographic Concentration Risk \| Net Revenues
Summary Of Significant Accounting Policies [Line Items]
Concentration risk percentage									8.60%
Selling, general and administrative expenses \| Argentina
Summary Of Significant Accounting Policies [Line Items]
Remeasurement gain (loss) due to inflationary accounting									$ 4	$ (11)

Divestitures and Acquisitions (Details) € in Millions, $ in Millions, $ in Millions, ¥ in Billions														1 Months Ended	3 Months Ended									12 Months Ended
	Jul. 16, 2019 USD ($)	Jun. 07, 2018 USD ($)	Dec. 28, 2017 USD ($)	Dec. 28, 2017 JPY (¥)	Oct. 23, 2017 EUR (€)	Oct. 23, 2017 USD ($)	Aug. 17, 2017 EUR (€) agreement	Aug. 17, 2017 USD ($) agreement	Jul. 04, 2017 AUD ($)	Jul. 04, 2017 USD ($)	Apr. 28, 2017 EUR (€)	Apr. 28, 2017 USD ($)	Mar. 31, 2016 USD ($)	May 31, 2016 USD ($)	Dec. 31, 2019 USD ($)	Sep. 30, 2019 USD ($)	Jun. 30, 2019 USD ($)	Mar. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Sep. 30, 2018 USD ($)	Jun. 30, 2018 USD ($)	Mar. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2019 USD ($)	Jun. 07, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)
Acquisition And Dispositions [Line Items]
Payment to acquire business, net of cash received																								$ 284		$ 528	$ 0
Goodwill															$ 20,848				$ 20,725				$ 21,085	20,848		20,725	21,085
Divestiture transaction costs															0	$ 3	$ 41	$ 0						44		0	186
Divestiture-related costs															0	4	(11)	$ 1	(2)	$ 0	$ 0	$ 3
Proceeds from sale of property, plant and equipment and other																								82		398	109
Intangible asset impairment																								57		68
Trademarks
Acquisition And Dispositions [Line Items]
Intangible asset impairment																								57			1
North America
Acquisition And Dispositions [Line Items]
Goodwill															9,356				9,173					9,356		9,173
AMEA
Acquisition And Dispositions [Line Items]
Goodwill															3,151				3,210					3,151		3,210
Europe
Acquisition And Dispositions [Line Items]
Goodwill															7,523				$ 7,519					7,523		$ 7,519
Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] \| Cheese Business \| AMEA
Acquisition And Dispositions [Line Items]
Proceeds from divestiture of businesses																								161
Current assets divested															19									19
Non-current assets divested															$ 96									96
Divestiture transaction costs																								2
Net pre-tax gain on divestiture																								44
Discontinued Operations, Disposed of by Sale \| Japan \| AMEA
Acquisition And Dispositions [Line Items]
Proceeds from divestiture of businesses			$ 24	¥ 2.8
Discontinued Operations, Disposed of by Sale \| Australia and New Zealand
Acquisition And Dispositions [Line Items]
Proceeds from divestiture of businesses									$ 456	$ 347
Divestiture transaction costs									$ 247	187
Disposal group, including discontinued operation, other current assets										27
Disposal group, including discontinued operation, other non current assets										135
Disposal group, including discontinued operation, other current liabilities										$ 4
Divestiture-related costs																											2
Gain (loss) on foreign currency derivatives																											(3)
Inventory-related working capital adjustment																							3				3
Gain (loss) on inventory working capital adjustment																							$ 190
Discontinued Operations, Disposed of by Sale \| France
Acquisition And Dispositions [Line Items]
Divestiture transaction costs																											(3)
Disposal group, including discontinued operation, other current assets												$ 44
Disposal group, including discontinued operation, other non current assets												155
Disposal group, including discontinued operation, other current liabilities												8
Divestiture-related costs																											$ 27	$ 84
Proceeds from sale of property, plant and equipment and other											€ 157	169
Disposal group, including discontinued operation, other non current liabilities												$ 22
Discontinued Operations, Disposed of by Sale \| France \| Trademarks
Acquisition And Dispositions [Line Items]
Intangible asset impairment													$ 14	$ 5
Discontinued Operations, Disposed of by Sale \| The Kraft Heinz Company \| Europe
Acquisition And Dispositions [Line Items]
Proceeds from divestiture of businesses					€ 2	$ 3	€ 9	$ 11
Number of agreements entered into to terminate licenses \| agreement							2	2
Perfect Snacks
Acquisition And Dispositions [Line Items]
Goodwill																$ 150
Perfect Snacks \| North America
Acquisition And Dispositions [Line Items]
Payment to acquire business, net of cash received	$ 284
Definite-life intangible assets acquired	31
Indefinite-lived intangible assets acquired	107
Goodwill	150
Property, plant and equipment acquired	1
Inventory acquired	12
Accounts receivables acquired	8
Current liabilities assumed	13
Deferred tax liabilities assumed	3
Other liabilities assumed	$ 9
Incremental net revenues from acquisition																								$ 53
Tate’s Bake Shop \| North America
Acquisition And Dispositions [Line Items]
Payment to acquire business, net of cash received		$ 528															527
Definite-life intangible assets acquired																	45
Indefinite-lived intangible assets acquired																	205
Goodwill		$ 298															297
Property, plant and equipment acquired																	16
Inventory acquired																	5
Accounts receivables acquired																	9
Current liabilities assumed																	7
Deferred tax liabilities assumed																	$ 43
Incremental net revenues from acquisition																									$ 35

Inventories (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Inventory Disclosure [Abstract]
Raw materials	$ 707	$ 726
Finished product	1,953	1,987
Inventories, gross	2,660	2,713
Inventory reserves	(114)	(121)
Inventories, net	$ 2,546	$ 2,592

Property, Plant and Equipment (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Property, plant, and equipment and right-of-use assets, gross	$ 15,537
Accumulated depreciation of property, plant and equipment and right-of-use assets	(6,804)
Property, plant and equipment and right-of-use assets, net	8,733
Property, plant and equipment and, gross		$ 15,245
Accumulated depreciation of property, plant and equipment		(6,763)
Property, plant and equipment, net		8,482
Land and land improvements
Property, Plant and Equipment [Line Items]
Property, plant, and equipment and right-of-use assets, gross	422
Property, plant and equipment and, gross		424
Buildings and building improvements
Property, Plant and Equipment [Line Items]
Property, plant, and equipment and right-of-use assets, gross	3,140
Property, plant and equipment and, gross		2,984
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant, and equipment and right-of-use assets, gross	11,295
Property, plant and equipment and, gross		10,943
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant, and equipment and right-of-use assets, gross	$ 680
Property, plant and equipment and, gross		$ 894

Leases - Operating Lease Costs (Details) $ in Millions	12 Months Ended
Leases - Operating Lease Costs (Details) $ in Millions	Dec. 31, 2019 USD ($)
Leases [Abstract]
Operating lease cost	$ 222
Amortization of right-of-use assets	29
Interest on lease liabilities	4
Short-term lease cost	39
Variable lease cost	474
Sublease income	(6)
Total lease cost	$ 762

Leases - Supplemental Cash Flow Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019 USD ($)
Leases [Abstract]
Operating cash flows from operating leases	$ (234)
Operating cash flows from finance leases	(4)
Financing cash flows from finance leases	(27)
Operating leases	95
Finance leases	$ 99

Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Leases [Abstract]
Operating lease right-of-use assets, net of amortization	$ 568	$ 0
Other current liabilities	178
Long-term operating lease liabilities	403	$ 0
Total operating lease liabilities	581
Finance leases, net of amortization (within property, plant & equipment)	122
Current portion of long-term debt	32
Long-term debt	91
Total finance lease liabilities	$ 123
Operating leases, weighted average remaining lease term	5 years 2 months 12 days
Finance leases, weighted average remaining lease term	4 years 7 months 6 days
Operating leases, weighted average discount rate	3.50%
Finance leases, weighted average discount rate	3.70%

Leases - Future Lease Payments Under Non-cancelable Leases (Details) $ in Millions	Dec. 31, 2019 USD ($)
Operating Leases
2020	$ 197
2021	146
2022	102
2023	68
2024	42
Thereafter	97
Total future undiscounted lease payments	652
Less imputed interest	(71)
Total operating lease liabilities	581
Finance Leases
2020	38
2021	34
2022	23
2023	15
2024	9
Thereafter	15
Total future undiscounted lease payments	134
Less imputed interest	(11)
Total finance lease liabilities	$ 123

Leases - Minimum Rental Commitments Under Non-cancelable Operating Leases (Details) $ in Millions	Dec. 31, 2018 USD ($)
Leases [Abstract]
2019	$ 208
2020	165
2021	114
2022	79
2023	57
Thereafter	157
Total	$ 780

Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Non-amortizable intangible assets	$ 17,296	$ 17,201
Amortizable intangible assets	2,374	2,328
Total intangible assets, gross	19,670	19,529	$ 20,057
Accumulated amortization	(1,713)	(1,527)
Intangible assets, net	$ 17,957	$ 18,002

Goodwill and Intangible Assets - Additional Information (Details)	3 Months Ended	12 Months Ended
	Jun. 30, 2019 USD ($)	Dec. 31, 2019 USD ($) brand	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Sep. 30, 2019 USD ($)	Jul. 16, 2019 USD ($)	Jun. 07, 2018 USD ($)
Goodwill and Intangible Assets Disclosure [Line Items]
Amortization expense for intangible assets		$ 174,000,000	$ 176,000,000	$ 178,000,000
Estimated amortization expense for intangible assets in year 1		175,000,000
Estimated amortization expense for intangible assets in year 2		90,000,000
Estimated amortization expense for intangible assets in year 3		85,000,000
Estimated amortization expense for intangible assets in year 4		85,000,000
Estimated amortization expense for intangible assets in year 5		85,000,000
Goodwill decrease		43,000,000	0
Goodwill		20,848,000,000	20,725,000,000	21,085,000,000
Impairment of goodwill		0	0	0
Intangible asset impairment		57,000,000	68,000,000
North America
Goodwill and Intangible Assets Disclosure [Line Items]
Goodwill		9,356,000,000	9,173,000,000
Gum, Chocolate, Biscuits and Candy
Goodwill and Intangible Assets Disclosure [Line Items]
Intangible asset impairment			68,000,000
Candy and Gum
Goodwill and Intangible Assets Disclosure [Line Items]
Intangible asset impairment				109,000,000
Trademarks
Goodwill and Intangible Assets Disclosure [Line Items]
Intangible asset impairment		$ 57,000,000		1,000,000
Number of impaired trademarks \| brand		9
Number of trademarks with fair value in excess of book value, 10% or less \| brand		14
Book value of trademarks with fair value in excess of book value, 10% or less		$ 635,000,000
Trademarks \| Gum, Chocolate, Biscuits and Candy \| AMEA
Goodwill and Intangible Assets Disclosure [Line Items]
Intangible asset impairment		15,000,000	9,000,000
Trademarks \| Gum, Chocolate, Biscuits and Candy \| North America
Goodwill and Intangible Assets Disclosure [Line Items]
Intangible asset impairment			14,000,000
Trademarks \| Gum, Chocolate, Biscuits and Candy \| Europe
Goodwill and Intangible Assets Disclosure [Line Items]
Intangible asset impairment		39,000,000	$ 45,000,000
Trademarks \| Gum, Chocolate, Biscuits and Candy \| Latin America
Goodwill and Intangible Assets Disclosure [Line Items]
Intangible asset impairment		$ 3,000,000
Trademarks \| Candy and Gum
Goodwill and Intangible Assets Disclosure [Line Items]
Intangible asset impairment				70,000,000
Trademarks \| Candy and Gum \| AMEA
Goodwill and Intangible Assets Disclosure [Line Items]
Intangible asset impairment				52,000,000
Trademarks \| Candy and Gum \| North America
Goodwill and Intangible Assets Disclosure [Line Items]
Intangible asset impairment				2,000,000
Trademarks \| Candy and Gum \| Europe
Goodwill and Intangible Assets Disclosure [Line Items]
Intangible asset impairment				11,000,000
Trademarks \| Candy and Gum \| Latin America
Goodwill and Intangible Assets Disclosure [Line Items]
Intangible asset impairment				5,000,000
Trademarks \| Gum \| North America
Goodwill and Intangible Assets Disclosure [Line Items]
Intangible asset impairment				$ 38,000,000
Perfect Snacks
Goodwill and Intangible Assets Disclosure [Line Items]
Goodwill					$ 150,000,000
Intangible assets acquired					$ 138,000,000
Perfect Snacks \| North America
Goodwill and Intangible Assets Disclosure [Line Items]
Goodwill						$ 150,000,000
Tate’s Bake Shop
Goodwill and Intangible Assets Disclosure [Line Items]
Goodwill adjustments	$ 1,000,000
Tate’s Bake Shop \| North America
Goodwill and Intangible Assets Disclosure [Line Items]
Goodwill	297,000,000						$ 298,000,000
Intangible assets acquired							$ 250,000,000
Cheese Business \| AMEA
Goodwill and Intangible Assets Disclosure [Line Items]
Goodwill decrease	$ 43,000,000

Goodwill and Intangible Assets - Changes in Goodwill and Intangible Assets (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Goodwill
Balance at January 1	$ 20,725,000,000	$ 21,085,000,000
Currency	17,000,000	(658,000,000)
Divestitures	(43,000,000)	0
Acquisitions	149,000,000	298,000,000
Asset impairments	0	0	$ 0
Balance at December 31	20,848,000,000	20,725,000,000	21,085,000,000
Intangible Assets, at cost
Balance at January 1	19,529,000,000	20,057,000,000
Currency	60,000,000	(710,000,000)
Divestitures	0	0
Acquisitions	138,000,000	250,000,000
Asset impairments	(57,000,000)	(68,000,000)
Balance at December 31	$ 19,670,000,000	$ 19,529,000,000	$ 20,057,000,000

Equity Method Investments - Additional Information (Details)
$ in Millions

3 Months Ended

12 Months Ended

Oct. 02, 2017

USD ($)

Mar. 07, 2016

USD ($)

Dec. 31, 2019

USD ($)

Sep. 30, 2019

USD ($)

Jun. 30, 2019

USD ($)

Mar. 31, 2019

USD ($)

Dec. 31, 2018

USD ($)

Sep. 30, 2018

USD ($)

Jun. 30, 2018

USD ($)

Mar. 31, 2018

USD ($)

Dec. 31, 2019

USD ($)

Dec. 31, 2018

USD ($)

Dec. 31, 2017

USD ($)

Jul. 09, 2018

director

Schedule of Equity Method Investments [Line Items]

Equity method investments

^[1]

$ 7,212

$ 7,123

$ 7,212

$ 7,123

Pre-tax gain (loss) on equity method investment transaction

105

$ 111

$ 113

149

$ 80

$ 87

$ 232

442

548

$ 344

$ 0

(25)

$ 23

$ 21

$ 757

$ 0

$ (2)

778

JDE

Schedule of Equity Method Investments [Line Items]

Equity method investment, voting interest percentage

26.50%

Equity method investment, profit and dividend sharing interest percentage

26.40%

26.30%

Cash dividends received from equity method investments

$ 73

JDE | Equity Earnings

Schedule of Equity Method Investments [Line Items]

Schedule of Equity Method Investments [Line Items]

195

230

129

Keurig

Cash dividends received from equity method investments

$ 115

Quoted market price of ownership interest in equity method investment

$ 2,000

Pre-tax gain (loss) on equity method investment transaction

$ 43

(29)

Shareholder loan interest payment received

Keurig | Interest Income

Schedule of Equity Method Investments [Line Items]

Keurig | Keurig with Dr Pepper Snapple Group, Inc.

$ 12

Schedule of Equity Method Investments [Line Items]

Schedule of Equity Method Investments [Line Items]

24.20%

KDP

13.60%

13.80%

13.60%

13.80%

Quoted market price of ownership interest in equity method investment

$ 160

$ 213

$ 92

$ 5,500

Pre-tax gain on decrease in ownership interest

$ 23

KDP | Keurig with Dr Pepper Snapple Group, Inc.

Schedule of Equity Method Investments [Line Items]

Pre-tax gain (loss) on equity method investment transaction

13.80%

778

After-tax gain on equity method investment transaction

$ 586

Number of director positions | director

Other Equity Method Investment

Schedule of Equity Method Investments [Line Items]

Proceeds from sale of equity method investments

$ 65

Gain on equity method investment transaction

$ 4

Tax expense on sale of equity method investment

$ 15

[1]	Includes a basis difference of approximately $330 million as of December 31, 2019 and $340 million as of December 31, 2018 between the U.S. GAAP accounting basis for our equity method investments and the U.S. GAAP accounting basis of our investees’ equity.

Equity Method Investments - Summarized Financial Information of Equity Method Investments (Details) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Summary Balance Sheet for Equity Method Investments

Current assets

$ 5,650

$ 5,695

Noncurrent assets

69,232

69,445

Total assets

74,882

75,140

Current liabilities

10,037

9,434

Noncurrent liabilities

27,642

29,296

Total liabilities

37,679

38,730

Equity attributable to noncontrolling interests

Equity method investments

^[1]

7,212

7,123

Summary Statement of Operations for Equity Method Investments

Net revenues

19,410

14,185

$ 12,824

Gross profit

9,733

6,076

4,913

Income from continuing operations

1,991

1,980

1,118

Net income

1,991

1,980

1,118

Mondelēz International share of investee net income

442

548

$ 344

Adjustment Due to Change in Accounting Basis

Summary Balance Sheet for Equity Method Investments

Difference between U.S. GAAP accounting basis for equity method investments and the investees' equity

$ 330

$ 340

Minimum

Summary Balance Sheet for Equity Method Investments

Summary Balance Sheet for Equity Method Investments

13.00%

24.00%

Maximum

Summary Balance Sheet for Equity Method Investments

50.00%

Investee

Equity attributable to shareowners of investees

$ 37,170

$ 36,365

Total net equity of investees

37,203

36,411

Summary Statement of Operations for Equity Method Investments

Net income

1,981

1,970

$ 1,115

Mondelēz International share of investee net income

442

536

320

Keurig | Interest Income

Summary Statement of Operations for Equity Method Investments

Mondelēz International share of investee net income

$ 0

$ 12

$ 24

[1]	Includes a basis difference of approximately $330 million as of December 31, 2019 and $340 million as of December 31, 2018 between the U.S. GAAP accounting basis for our equity method investments and the U.S. GAAP accounting basis of our investees’ equity.

Restructuring Program - Additional Information (Details) - USD ($)
$ in Millions

12 Months Ended

56 Months Ended

68 Months Ended

Sep. 06, 2018

Aug. 31, 2016

May 06, 2014

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Dec. 31, 2018

Dec. 31, 2019

2014-2018 Restructuring Program

Reallocation of previously approved capital expenditures to be spent on restructuring program cash costs

$ 5,700

$ 3,500

600

2014-2018 Restructuring Program | Maximum

Capital expenditures, authorized amount

1,600

$ 2,200

2014-2018 Restructuring Program | Program charges

2014-2018 Restructuring Program | Cash costs

4,100

2014-2018 Restructuring Program | Non-cash costs

3,100

$ 1,000

Simplify to Grow Program

Restructuring and related cost, cost incurred

$ 7,700

$ 448

$ 631

$ 792

$ 4,300

$ 4,340

^[1]

Restructuring charges

176

^[2]

316

535

2,726

^[1]

Non-cash asset write-downs

162

310

^[3]

Restructuring reserve

301

373

464

$ 373

301

Implementation costs

272

$ 315

$ 257

1,614

^[1]

Simplify to Grow Program | Maximum

Capital expenditures, authorized amount

2,300

Increase in restructuring program costs

1,300

Increase in capital expenditures

700

Simplify to Grow Program | Program charges

Simplify to Grow Program | Cash costs

5,400

Simplify to Grow Program | Non-cash costs

4,100

Simplify to Grow Program | Other current liabilities

$ 1,300

Simplify to Grow Program | Other liabilities

Restructuring reserve

275

Restructuring reserve

$ 26

[1]	Includes all charges recorded since program inception on May 6, 2014 through December 31, 2019.
[2]	During 2017-2019, our North America region implementation costs included incremental costs that we incurred related to renegotiating collective bargaining agreements that expired in February 2016 for eight U.S. facilities and related to executing business continuity plans for the North America business.
[3]	We adopted the new lease accounting ASU as of January 1, 2019. The ASU requires recording onerous lease liabilities netted with right of use assets. Therefore, during the first quarter of 2019, we reclassified onerous lease liabilities that totaled $23 million as of March 31, 2019, from accrued liabilities and other accrued liabilities to operating lease right of use assets.

Restructuring Program - Restructuring Liability Activity (Details) - Simplify to Grow Program - USD ($)
$ in Millions

3 Months Ended

12 Months Ended

68 Months Ended

Mar. 31, 2019

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Dec. 31, 2019

Liability balance, January 1

$ 373

$ 464

Charges

176

^[1]

316

$ 535

$ 2,726

^[2]

(162)

(310)

Liability balance, December 31

(82)

^[3]

(67)

Currency

(4)

(30)

301

373

464

301

ASU 2016-02

Pension Plans

Settlement losses recorded within benefit plan non-service income

Severance and related costs

Liability balance, January 1

373

464

Charges

125

^[1]

253

(162)

(310)

Liability balance, December 31

(31)

^[3]

(4)

Currency

(4)

(30)

301

373

464

301

Asset Write-downs

Liability balance, January 1

$ 0

Charges

^[1]

Liability balance, December 31

(51)

^[3]

(63)

Currency

$ 0

[1]	During 2017-2019, our North America region implementation costs included incremental costs that we incurred related to renegotiating collective bargaining agreements that expired in February 2016 for eight U.S. facilities and related to executing business continuity plans for the North America business.
[2]	Includes all charges recorded since program inception on May 6, 2014 through December 31, 2019.
[3]	We adopted the new lease accounting ASU as of January 1, 2019. The ASU requires recording onerous lease liabilities netted with right of use assets. Therefore, during the first quarter of 2019, we reclassified onerous lease liabilities that totaled $23 million as of March 31, 2019, from accrued liabilities and other accrued liabilities to operating lease right of use assets.

Restructuring Program - Restructuring and Implementation Costs (Details) - Simplify to Grow Program - USD ($)
$ in Millions

12 Months Ended

56 Months Ended

68 Months Ended

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Dec. 31, 2018

Dec. 31, 2019

^[2]

$ 176

^[1]

$ 316

$ 535

$ 2,726

272

315

257

1,614

Operating Segments | Latin America

448

631

792

$ 4,300

4,340

517

269

Operating Segments | AMEA

130

136

786

140

535

206

Operating Segments | Europe

108

183

741

105

132

195

1,076

103

448

Operating Segments | North America

208

205

263

1,524

^[1]

469

^[1]

384

^[1]

111

142

853

Corporate

^[3]

129

^[3]

307

^[3]

$ 42

$ 77

$ 68

$ 436

[1]	During 2017-2019, our North America region implementation costs included incremental costs that we incurred related to renegotiating collective bargaining agreements that expired in February 2016 for eight U.S. facilities and related to executing business continuity plans for the North America business.
[2]	Includes all charges recorded since program inception on May 6, 2014 through December 31, 2019.
[3]	Benefit plan non-service income amounts associated with restructuring program activities that are no longer recorded in segment operating income are included in the Corporate column in the table above for all periods presented. The Corporate column also includes minor adjustments for pension settlement losses and rounding.

Debt and Borrowing Arrangements - Additional Information (Details) £ in Millions, SFr in Millions, R$ in Millions																								12 Months Ended
	Oct. 28, 2019 USD ($)	Oct. 25, 2019 USD ($)	Oct. 02, 2019 EUR (€)	Oct. 02, 2019 USD ($)	Sep. 19, 2019 USD ($)	Sep. 13, 2019 USD ($)	Feb. 27, 2019 USD ($)	Feb. 13, 2019 USD ($)	Feb. 01, 2019 USD ($)	Aug. 23, 2018 USD ($)	Jul. 18, 2018 USD ($)	Jul. 18, 2018 GBP (£)	May 07, 2018 USD ($)	Apr. 17, 2018 USD ($)	Apr. 02, 2018 USD ($)	Mar. 02, 2018 USD ($)	Mar. 02, 2018 CAD ($)	Feb. 01, 2018 USD ($)	Jan. 26, 2018 USD ($)	Jan. 26, 2018 CHF (SFr)	Sep. 30, 2017 USD ($)	Sep. 30, 2017 BRL (R$)	Oct. 14, 2016 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Oct. 02, 2019 USD ($)	May 03, 2018 USD ($)	Mar. 02, 2018 CAD ($)	Feb. 28, 2018 USD ($)
Debt Instrument [Line Items]
Short-term borrowings																								$ 2,638,000,000	$ 3,192,000,000
Long-term debt proceeds																								3,136,000,000	2,948,000,000	$ 350,000,000
Deferred debt issuance costs																								33,000,000	32,000,000
Unamortized non-cash bond premiums, discounts, bank fees and mark-to-market adjustments																								(76,000,000)
Imputed interest on finance leases																								(11,000,000)
Long-term debt repaid																								2,677,000,000	1,821,000,000	1,470,000,000
Loss on early extinguishment of debt																								$ 0	$ 140,000,000	$ 11,000,000
Weighted-average interest rate																								2.20%	2.30%	2.10%
Fair value of total debt																								$ 19,388,000,000	$ 18,650,000,000
Carrying value of total debt																								18,426,000,000	18,372,000,000
Benefit from Brazilian tax matter																					$ 212,000,000	R$ 667
Interest and other expense, net
Debt Instrument [Line Items]
Benefit from Brazilian tax matter																					$ 59,000,000					$ 59,000,000
Net Investment Hedging \| Net investment hedge contracts
Debt Instrument [Line Items]
Amounts related to net investment hedge derivative contracts excluded from hedge effectiveness																								133,000,000	120,000,000
Loans Payable
Debt Instrument [Line Items]
Debt instrument, principal amount													$ 2,500,000,000															$ 2,500,000,000
Long-term debt proceeds													2,480,000,000
Unamortized discount and deferred financing costs																												22,000,000
Debt instrument, repurchased amount														$ 570,000,000
Loans Payable \| U.S. Dollar-denominated Variable Rate Notes due February 2019
Debt Instrument [Line Items]
Long-term debt repaid									$ 400,000,000
Loans Payable \| 6.125% U.S. Dollar-denominated Notes due August 2018
Debt Instrument [Line Items]
Long-term debt repaid										$ 280,000,000
Debt instrument, interest rate										6.125%				6.125%
Debt instrument, repurchased amount														$ 42,600,000
Loans Payable \| 7.25% Pound Sterling-denominated Notes
Debt Instrument [Line Items]
Long-term debt repaid											$ 99,000,000	£ 76
Debt instrument, interest rate											7.25%	7.25%
Loans Payable \| 3.000% U.S. Dollar-denominated Notes due May 2020
Debt Instrument [Line Items]
Debt instrument, principal amount																												$ 750,000,000
Debt instrument, interest rate																												3.00%
Loans Payable \| 3.625% U.S. Dollar-denominated Notes due May 2023
Debt Instrument [Line Items]
Debt instrument, principal amount								$ 600,000,000																				$ 750,000,000
Long-term debt proceeds								$ 595,000,000
Debt instrument, interest rate								3.625%																				3.625%
Unamortized discount and deferred financing costs								$ 5,000,000
Loans Payable \| 4.125% U.S. Dollar-denominated Notes due May 2028
Debt Instrument [Line Items]
Debt instrument, principal amount																												$ 700,000,000
Debt instrument, interest rate																												4.125%
Loans Payable \| 4.625% U.S. Dollar-denominated Notes due May 2048
Debt Instrument [Line Items]
Debt instrument, principal amount																												$ 300,000,000
Debt instrument, interest rate																												4.625%
Loans Payable \| 6.500% U.S. Dollar-denominated Notes due February 2040
Debt Instrument [Line Items]
Debt instrument, interest rate														6.50%
Debt instrument, repurchased amount														$ 241,000,000
Loans Payable \| 5.375% U.S. Dollar-denominated Notes due February 2020
Debt Instrument [Line Items]
Debt instrument, interest rate														5.375%
Debt instrument, repurchased amount														$ 97,600,000
Loans Payable \| 6.500% U.S. Dollar-denominated Notes due November 2031
Debt Instrument [Line Items]
Debt instrument, interest rate														6.50%
Debt instrument, repurchased amount														$ 75,800,000
Loans Payable \| 6.875% U.S. Dollar-denominated Notes due February 2038
Debt Instrument [Line Items]
Debt instrument, interest rate														6.875%
Debt instrument, repurchased amount														$ 72,100,000
Loans Payable \| 6.875% U.S. Dollar-denominated Notes due January 2039
Debt Instrument [Line Items]
Debt instrument, interest rate														6.875%
Debt instrument, repurchased amount														$ 29,300,000
Loans Payable \| 7.000% U.S. Dollar-denominated Notes due August 2037
Debt Instrument [Line Items]
Debt instrument, interest rate														7.00%
Debt instrument, repurchased amount														$ 11,700,000
Loans Payable \| 3.250% Canadian Dollar-denominated Notes due March 2025
Debt Instrument [Line Items]
Debt instrument, principal amount																													$ 600,000,000
Debt instrument, interest rate																3.25%													3.25%
Unamortized discount and deferred financing costs																$ 4,000,000
Proceeds from issuance of debt, net of discounts and underwriting fees																$ 461,000,000	$ 595,000,000
Loans Payable \| 6.125% U.S. Dollar-denominated Notes due February 2018
Debt Instrument [Line Items]
Long-term debt repaid																		$ 478,000,000
Debt instrument, interest rate																		6.125%
Loans Payable \| 0.080% Swiss Franc-denominated Notes due January 2018
Debt Instrument [Line Items]
Long-term debt repaid																			$ 260,000,000	SFr 250
Debt instrument, interest rate																			0.08%	0.08%
Revolving Credit Facility \| Bank loans \| Multi-year Senior Unsecured Revolving Credit Facility
Debt Instrument [Line Items]
Revolving credit facility, maximum borrowing capacity							$ 4,500,000,000
Total shareholders' equity, excluding accumulated other comprehensive earnings / (losses)							24,600,000,000																	37,500,000,000
Line of credit facility outstanding amount																								0
Revolving Credit Facility, October 11, 2021
Debt Instrument [Line Items]
Revolving credit facility, maximum borrowing capacity																							$ 4,500,000,000							$ 4,500,000,000
Line of credit, expiration period																							5 years
International Subsidiaries
Debt Instrument [Line Items]
Revolving credit facility, maximum borrowing capacity																								1,700,000,000	1,700,000,000.0
MIHN \| Term Loan
Debt Instrument [Line Items]
Long-term debt proceeds		$ 1,000,000,000.0
MIHN \| Term Loan \| Three-year Term Loan
Debt Instrument [Line Items]
Debt instrument, principal amount						$ 500,000,000
Debt term						3 years
MIHN \| Term Loan \| Five-year Term Loan
Debt Instrument [Line Items]
Debt instrument, principal amount						$ 500,000,000
Debt term						5 years
MIHN \| Loans Payable
Debt Instrument [Line Items]
Debt instrument, principal amount					$ 1,000,000,000.0
Long-term debt proceeds					997,000,000
Unamortized discount and deferred financing costs					4,000,000
MIHN \| Loans Payable \| 6.125% Notes due October 2019
Debt Instrument [Line Items]
Long-term debt repaid	$ 1,750,000,000
Debt instrument, interest rate	1.625%
MIHN \| Loans Payable \| Floating Rate Notes due October 2019
Debt Instrument [Line Items]
Long-term debt repaid	$ 500,000,000
MIHN \| Loans Payable \| 0.875% Euro-denominated Notes Due October 2031
Debt Instrument [Line Items]
Debt instrument, principal amount \| €			€ 500,000,000
Long-term debt proceeds			€ 491,000,000	$ 538,000,000
Debt instrument, interest rate			0.875%																								0.875%
Unamortized discount and deferred financing costs																											$ 11,000,000
MIHN \| Loans Payable \| 2.125% U.S. Dollar-denominated Notes Guaranteed by Mondelēz International, Inc. Due September 19, 2022
Debt Instrument [Line Items]
Debt instrument, principal amount					$ 500,000,000
Debt instrument, interest rate					2.125%
MIHN \| Loans Payable \| 2.25% U.S. Dollar-denominated Notes Guaranteed by Mondelēz International, Inc. Due September 19, 2024
Debt Instrument [Line Items]
Debt instrument, principal amount					$ 500,000,000
Debt instrument, interest rate					2.25%
Commercial paper
Debt Instrument [Line Items]
Short-term borrowings																								2,581,000,000	3,054,000,000
Commercial paper \| Revolving Credit Facility \| 364-Day Senior Unsecured Credit Facility
Debt Instrument [Line Items]
Revolving credit facility, maximum borrowing capacity							$ 1,500,000,000
Line of credit, expiration period							364 days
Amount outstanding under line of credit																								$ 0
Commercial paper \| Minimum
Debt Instrument [Line Items]
Commercial paper, maturity period																								2 days
Commercial paper \| Maximum
Debt Instrument [Line Items]
Commercial paper, maturity period																								52 days
Bank loans
Debt Instrument [Line Items]
Short-term borrowings																								$ 57,000,000	$ 138,000,000
Bank loans \| Revolving Credit Facility \| 364-Day Senior Unsecured Credit Facility
Debt Instrument [Line Items]
Revolving credit facility, maximum borrowing capacity															$ 2,000,000,000.0
Line of credit, expiration period															364 days
Borrowings under line of credit														$ 714,000,000
Repayment of line of credit													$ 714,000,000
Loss on early extinguishment of debt																								$ 140,000,000

Debt and Borrowing Arrangements - Long-Term Debt (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Notes payable	$ 15,875
Finance leases	123
Finance leases and other obligations		$ 2
Total	15,788	15,180
Less current portion of long-term debt	(1,581)	(2,648)
Long-term debt	14,207	12,532
U.S. dollar notes
Debt Instrument [Line Items]
Notes payable	$ 9,442	9,492
Maturity date	2048
U.S. dollar notes \| Minimum
Debt Instrument [Line Items]
Debt instrument, effective interest rate	0.163%
U.S. dollar notes \| Maximum
Debt Instrument [Line Items]
Debt instrument, effective interest rate	7.00%
U.S. dollar notes \| Weighted Average
Debt Instrument [Line Items]
Debt instrument, effective interest rate	3.107%
Euro notes
Debt Instrument [Line Items]
Notes payable	$ 3,968	3,492
Maturity date	2035
Euro notes \| Minimum
Debt Instrument [Line Items]
Debt instrument, effective interest rate	0.875%
Euro notes \| Maximum
Debt Instrument [Line Items]
Debt instrument, effective interest rate	2.375%
Euro notes \| Weighted Average
Debt Instrument [Line Items]
Debt instrument, effective interest rate	1.696%
Pound sterling notes
Debt Instrument [Line Items]
Notes payable	$ 346	333
Maturity date	2045
Pound sterling notes \| Minimum
Debt Instrument [Line Items]
Debt instrument, effective interest rate	3.875%
Pound sterling notes \| Maximum
Debt Instrument [Line Items]
Debt instrument, effective interest rate	4.50%
Pound sterling notes \| Weighted Average
Debt Instrument [Line Items]
Debt instrument, effective interest rate	4.151%
Swiss franc notes
Debt Instrument [Line Items]
Notes payable	$ 1,449	1,424
Maturity date	2025
Swiss franc notes \| Minimum
Debt Instrument [Line Items]
Debt instrument, effective interest rate	0.05%
Swiss franc notes \| Maximum
Debt Instrument [Line Items]
Debt instrument, effective interest rate	1.125%
Swiss franc notes \| Weighted Average
Debt Instrument [Line Items]
Debt instrument, effective interest rate	0.703%
Canadian dollar notes
Debt Instrument [Line Items]
Notes payable	$ 460	$ 437
Debt instrument, effective interest rate	3.25%
Maturity date	2025
Canadian dollar notes \| Weighted Average
Debt Instrument [Line Items]
Debt instrument, effective interest rate	3.32%

Debt and Borrowing Arrangements - Aggregate Maturities of Debt and Capital Leases Based on Stated Contractual Maturities (Details) $ in Millions	Dec. 31, 2019 USD ($)
Debt Disclosure [Abstract]
2020	$ 1,587
2021	3,356
2022	1,739
2023	1,824
2024	1,834
Thereafter	5,535
Total	$ 15,875

Debt and Borrowing Arrangements - Interest and Other Expense Net Within Results of Continuing Operations (Details) - USD ($) $ in Millions	3 Months Ended				12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Debt Disclosure [Abstract]
Interest expense, debt					$ 484	$ 462	$ 396
Loss on debt extinguishment and related expenses	$ 0	$ 0	$ 140	$ 0	0	140	11
Loss/(gain) related to interest rate swaps					111	(10)	0
Other (income)/expense, net					(139)	(72)	(25)
Interest and other expense, net					$ 456	$ 520	$ 382

Financial Instruments - Fair Value of Derivative Instruments (Details) - USD ($)
$ in Millions

Dec. 31, 2019

Dec. 31, 2018

$ 599

$ 617

Derivatives designated as accounting hedges

425

630

331

354

Derivatives designated as accounting hedges | Interest rate contracts

255

383

Derivatives designated as accounting hedges | Net investment hedge contracts

190

355

^[1]

312

337

Derivatives not designated as accounting hedges

^[1]

268

263

Derivatives not designated as accounting hedges | Currency exchange contracts

170

247

Derivatives not designated as accounting hedges | Commodity contracts

201

191

Net Investment Hedging | Euro notes

$ 120

$ 210

[1]

Financial Instruments - Additional Information (Details) - USD ($) $ in Millions		3 Months Ended								12 Months Ended
	Mar. 07, 2016	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) related to interest rate swaps										$ (111)	$ 10	$ 0
Loss on equity method investment transaction		$ 0	$ 0	$ 25	$ (23)	$ (21)	$ (757)	$ 0	$ 0	$ 2	(778)	$ (40)
JDE/Keurig
Derivative Instruments, Gain (Loss) [Line Items]
Loss on equity method investment transaction	$ (43)			29
Interest and other expense, net \| JDE/Keurig
Derivative Instruments, Gain (Loss) [Line Items]
Loss on equity method investment transaction				$ 12
Cash Flow Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Hedged forecasted transaction period										4 years 9 months
Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Derivative notional amount		5,250				8,679				$ 5,250	8,679
Interest rate contracts \| Cash Flow Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Expected transfers of unrealized losses to earnings, within next 12 months										15
Net investment hedge contracts
Derivative Instruments, Gain (Loss) [Line Items]
Derivative notional amount		6,864				$ 6,678				6,864	$ 6,678
Net investment hedge contracts \| Net Investment Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Derivative notional amount		$ 6,900								$ 6,900

Financial Instruments - Notional Values of Derivative Instruments (Details) - USD ($)
$ in Millions

Dec. 31, 2019

Dec. 31, 2018

Net Investment Hedging | British pound sterling notes

$ 3,436

$ 3,514

Net Investment Hedging | Swiss franc notes

349

336

Net Investment Hedging | Canadian dollar notes

1,448

1,424

Currency exchange contracts | Intercompany loans and forecasted interest payments

462

440

Currency exchange contracts | Forecasted transactions

2,474

3,239

3,993

2,396

Commodity contracts

^[1]

7,238

6,706

Interest rate contracts

Net investment hedge contracts

5,250

8,679

Net investment hedge contracts | Net Investment Hedging

6,864

$ 6,678

Simplify to Grow Program | Severance and related costs

$ 6,900

[1]	During the fourth quarter of 2019, we changed how we report our commodity contract notional values from a net to a gross basis in line with how we report our other instruments. We have recast 2018 to be consistent with current year presentation.

Financial Instruments - Cash Flow Hedges Effect on Accumulated Other Comprehensive Earnings/(Losses), Net of Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net [Abstract]
Balance at beginning of period	$ 25,713	$ 26,074	$ 25,195
Transfer of realized (gains)/losses in fair value to earnings	279	169	174
Balance at end of period	27,351	25,713	26,074
Cash Flow Hedges
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net [Abstract]
Transfer of realized (gains)/losses in fair value to earnings	154	(9)	27
Unrealized gain/(loss) in fair value	(199)	(45)	(19)
Derivative Cash Flow Hedges
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net [Abstract]
Balance at beginning of period	(167)	(113)	(121)
Balance at end of period	$ (212)	$ (167)	$ (113)

Financial Instruments - Cash Flow Hedges After-tax Gains/(Losses) (Details) - Cash Flow Hedges - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Derivative Instruments, Gain (Loss) [Line Items]
After-tax gains (losses) reclassified from accumulated other comprehensive income into earnings/(losses)	$ (154)	$ 9	$ (27)
After-tax gains (losses) reclassified from accumulated other comprehensive income/(loss)	(199)	(45)	(19)
Commodity contracts
Derivative Instruments, Gain (Loss) [Line Items]
After-tax gains (losses) reclassified from accumulated other comprehensive income into earnings/(losses)	0	0	(24)
After-tax gains (losses) reclassified from accumulated other comprehensive income/(loss)	0	0	7
Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
After-tax gains (losses) reclassified from accumulated other comprehensive income into earnings/(losses)	(154)	9	0
After-tax gains (losses) reclassified from accumulated other comprehensive income/(loss)	(202)	(45)	12
Forecasted transactions \| Currency exchange contracts
Derivative Instruments, Gain (Loss) [Line Items]
After-tax gains (losses) reclassified from accumulated other comprehensive income into earnings/(losses)	0	0	(3)
After-tax gains (losses) reclassified from accumulated other comprehensive income/(loss)	$ 3	$ 0	$ (38)

Financial Instruments - Economic Hedges (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Derivative Instruments, Gain (Loss) [Line Items]
Loss related to interest rate swaps	$ 0	$ (111)	$ 0	$ 0	$ 0	$ 1	$ (5)	$ 14
Not Designated as Hedging Instrument, Economic Hedge
Derivative Instruments, Gain (Loss) [Line Items]
Loss related to interest rate swaps									$ 173	$ 234	$ (241)
Not Designated as Hedging Instrument, Economic Hedge \| Commodity contracts \| Cost of sales
Derivative Instruments, Gain (Loss) [Line Items]
Loss related to interest rate swaps									67	40	(218)
Not Designated as Hedging Instrument, Economic Hedge \| Intercompany loans and forecasted interest payments \| Currency exchange contracts \| Interest and other expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Loss related to interest rate swaps									100	98	13
Not Designated as Hedging Instrument, Economic Hedge \| Forecasted transactions \| Currency exchange contracts \| Interest and other expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Loss related to interest rate swaps									(3)	(4)	(2)
Not Designated as Hedging Instrument, Economic Hedge \| Forecasted transactions \| Currency exchange contracts \| Cost of sales
Derivative Instruments, Gain (Loss) [Line Items]
Loss related to interest rate swaps									17	103	(37)
Not Designated as Hedging Instrument, Economic Hedge \| Forecasted transactions \| Currency exchange contracts \| Selling, general and administrative expenses
Derivative Instruments, Gain (Loss) [Line Items]
Loss related to interest rate swaps									$ (8)	$ (3)	$ 3

Benefit Plans - Projected Benefit Obligations, Plan Assets and Funded Status of Pension Plans (Details) - Pension Plans - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at January 1	$ 9,908
Fair value of plan assets at December 31	11,430	$ 9,908
U.S. Plans
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Projected benefit obligation at January 1	1,511	1,762
Service cost	38	43	$ 46
Interest cost	60	61	62
Benefits paid	(40)	(29)
Settlements paid	(73)	(118)
Actuarial (gains)/losses	251	(208)
Currency	0	0
Other	1	0
Projected benefit obligation at December 31	1,748	1,511	1,762
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at January 1	1,510	1,717
Actual return on plan assets	334	(99)
Contributions	8	39
Benefits paid	(40)	(29)
Settlements paid	(73)	(118)
Currency	0	0
Fair value of plan assets at December 31	1,739	1,510	1,717
Net pension (liabilities)/assets at December 31	(9)	(1)
Non-U.S. Plans
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Projected benefit obligation at January 1	9,578	10,852
Service cost	122	146	156
Interest cost	202	199	199
Benefits paid	(424)	(462)
Settlements paid	(1)	(2)
Actuarial (gains)/losses	761	(640)
Currency	207	(528)
Other	13	13
Projected benefit obligation at December 31	10,458	9,578	10,852
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at January 1	8,465	9,327
Actual return on plan assets	1,211	(243)
Contributions	261	323
Benefits paid	(424)	(462)
Settlements paid	(1)	(2)
Currency	246	(478)
Fair value of plan assets at December 31	9,758	8,465	$ 9,327
Net pension (liabilities)/assets at December 31	$ (700)	$ (1,113)

Benefit Plans - Additional Information (Details)		3 Months Ended	12 Months Ended
Benefit Plans - Additional Information (Details)	Jul. 11, 2019 USD ($)	Jun. 30, 2019 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Jun. 30, 2018 arrangement
Defined Benefit Plan Disclosure [Line Items]
Pension plans resulted in net pension liability			$ 709,000,000	$ 1,114,000,000
Plan assets related to certain insurance contracts			67,000,000	67,000,000
Expense for defined contribution plans			72,000,000	57,000,000	$ 43,000,000
Multiemployer Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Multiemployer pension plans contributions			$ 5,000,000	17,000,000	26,000,000
Multiemployer Pension Plans \| Bakery and Confectionery Union and Industry International Pension Fund
Defined Benefit Plan Disclosure [Line Items]
Multiemployer pension plans contributions				12,000,000	22,000,000
Multiemployer Pension Plans \| Bakery and Confectionery Union and Industry International Pension Fund
Defined Benefit Plan Disclosure [Line Items]
Pension fund			Bakery and Confectionery Union and Industry International Pension Fund
Multiemployer Pension Plans \| Multiemployer Plan, Individually Insignificant Multiemployer Plans
Defined Benefit Plan Disclosure [Line Items]
Multiemployer pension plans contributions			$ 5,000,000	5,000,000	4,000,000
Multiemployer Plans, Postretirement Benefit \| Multiemployer Medical Plans
Defined Benefit Plan Disclosure [Line Items]
Multiemployer pension plans contributions			$ 20,000,000	19,000,000	$ 18,000,000
U.S. And International Investment Grade Debt Securities \| Fixed-income securities
Defined Benefit Plan Disclosure [Line Items]
Target allocation percentage			95.00%
U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Period for recognition of net periodic benefit costs			4 years
U.S. Plans \| Bakery, Confectionery, Tobacco and Grain Millers Union (“BCTGM”) \| Multiemployer Pension Plans \| Bakery and Confectionery Union and Industry International Pension Fund
Defined Benefit Plan Disclosure [Line Items]
Multiemployer plan, number of expired collective-bargaining arrangements \| arrangement						8
U.S. Plans \| North America \| Bakery, Confectionery, Tobacco and Grain Millers Union (“BCTGM”) \| Multiemployer Pension Plans \| Bakery and Confectionery Union and Industry International Pension Fund
Defined Benefit Plan Disclosure [Line Items]
Multiemployer plan, withdrawal obligation	$ 526,000,000		$ 391,000,000	429,000,000
Multiemployer plan, withdrawal obligation term	20 years
U.S. Plans \| Selling, general and administrative expenses \| North America \| Bakery, Confectionery, Tobacco and Grain Millers Union (“BCTGM”) \| Multiemployer Pension Plans \| Bakery and Confectionery Union and Industry International Pension Fund
Defined Benefit Plan Disclosure [Line Items]
Multiemployer plan, final adjustment to reduce withdrawal liability		$ 35,000,000
U.S. Plans \| Other current liabilities \| North America \| Bakery, Confectionery, Tobacco and Grain Millers Union (“BCTGM”) \| Multiemployer Pension Plans \| Bakery and Confectionery Union and Industry International Pension Fund
Defined Benefit Plan Disclosure [Line Items]
Multiemployer plan, withdrawal obligation			14,000,000
U.S. Plans \| Other liabilities \| North America \| Bakery, Confectionery, Tobacco and Grain Millers Union (“BCTGM”) \| Multiemployer Pension Plans \| Bakery and Confectionery Union and Industry International Pension Fund
Defined Benefit Plan Disclosure [Line Items]
Multiemployer plan, withdrawal obligation			377,000,000
Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Pension plans resulted in net pension liability			709,000,000	1,114,000,000
Estimated loss from experience differences			133,000,000
Estimated prior service credit			6,000,000
Pension Plans \| U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation			1,741,000,000	$ 1,488,000,000
Employer contribution			8,000,000
Estimated future employer contributions			$ 16,000,000
Weighted-average discount rate			3.44%	4.40%
Rate of compensation increase			4.00%	4.00%
Pension Plans \| Non-U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation			$ 10,236,000,000	$ 9,374,000,000
Employer contribution			248,000,000
Employees contribution			13,000,000
Estimated future employer contributions			$ 230,000,000
Weighted-average discount rate			1.74%	2.45%
Rate of compensation increase			3.17%	3.31%
Pension Plans \| Non-U.S. Plans \| Fixed-income securities
Defined Benefit Plan Disclosure [Line Items]
Target allocation percentage			57.00%
Pension Plans \| Non-U.S. Plans \| Equity securities
Defined Benefit Plan Disclosure [Line Items]
Target allocation percentage			25.00%
Pension Plans \| Non-U.S. Plans \| Buy-in annuity policies
Defined Benefit Plan Disclosure [Line Items]
Target allocation percentage			12.00%
Pension Plans \| Non-U.S. Plans \| Real estate
Defined Benefit Plan Disclosure [Line Items]
Target allocation percentage			6.00%
Postretirement Benefit Plans
Defined Benefit Plan Disclosure [Line Items]
Current portion of our accrued postretirement benefit obligation			$ 16,000,000	$ 15,000,000
Postretirement Benefit Plans \| U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Weighted-average discount rate			3.41%	4.37%
Postretirement Benefit Plans \| Non-U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Weighted-average discount rate			3.86%	4.40%
Postretirement Health Care Plan
Defined Benefit Plan Disclosure [Line Items]
Estimated loss from experience differences			$ 10,000,000
Estimated prior service credit			$ 30,000,000
Postemployment Benefit Plans
Defined Benefit Plan Disclosure [Line Items]
Weighted-average discount rate			5.30%	6.70%
Ultimate annual turnover rate			0.30%	0.30%
Rate of compensation increase			4.00%	4.00%
Defined benefit plan, amount to be amortized from accumulated other comprehensive income (loss) next fiscal year			$ 4,000,000

Benefit Plans - Pension Plans Resulted in Net Pension Liability (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Prepaid pension assets	$ 516	$ 132
Other current liabilities	(35)	(25)
Accrued pension costs	(1,190)	(1,221)
Total	(709)	(1,114)
Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Total	(709)	(1,114)
Pension Plans \| U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	55	52
Accumulated benefit obligation	55	50
Fair value of plan assets	2	2
Pension Plans \| Non-U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	3,613	3,343
Accumulated benefit obligation	3,447	3,194
Fair value of plan assets	$ 2,443	$ 2,169

Benefit Plans - Components of Net Periodic Pension Cost (Details) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Settlement gains (losses)

$ 5

$ 11

Pension Plans | U.S. Plans

Expected return on plan assets

Service cost

Interest cost

(88)

(101)

Net loss from experience differences

Prior service cost/(benefit)

Settlement losses and other expenses

^[1]

Net periodic pension cost

Settlement gains (losses)

Pension Plans | Non-U.S. Plans

Expected return on plan assets

Service cost

122

146

156

Interest cost

202

199

(404)

(448)

(434)

Net loss from experience differences

148

163

167

Prior service cost/(benefit)

(6)

(2)

(3)

Settlement losses and other expenses

^[1]

(3)

Net periodic pension cost

Settlement gains (losses)

$ (4)

$ 4

$ 6

[1]

Benefit Plans - Changes in Level 3 Plan Assets (Details) - Significant Unobservable Inputs (Level 3) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Fair value of plan assets at January 1	$ 1,057	$ 816
Net Realized and Unrealized Gains/ (Losses)	45	63
Net Purchases, Issuances and Settlements	730	235
Net Transfers Into/(Out of) Level 3	0	0
Currency Impact	70	(57)
Fair value of plan assets at December 31	1,902	1,057
Corporate bonds and other fixed-income securities
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Fair value of plan assets at January 1	1,032	790
Net Realized and Unrealized Gains/ (Losses)	8	62
Net Purchases, Issuances and Settlements	727	236
Net Transfers Into/(Out of) Level 3	0	0
Currency Impact	69	(56)
Fair value of plan assets at December 31	1,836	1,032
Real estate
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Fair value of plan assets at January 1	22	23
Net Realized and Unrealized Gains/ (Losses)	36	1
Net Purchases, Issuances and Settlements	3	(1)
Net Transfers Into/(Out of) Level 3	0	0
Currency Impact	1	(1)
Fair value of plan assets at December 31	62	22
Private equity and other
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Fair value of plan assets at January 1	3	3
Net Realized and Unrealized Gains/ (Losses)	1	0
Net Purchases, Issuances and Settlements	0	0
Net Transfers Into/(Out of) Level 3	0	0
Currency Impact	0	0
Fair value of plan assets at December 31	$ 4	$ 3

Benefit Plans - Percentage of Fair Value of Pension Plan Assets (Details) - Pension Plans	Dec. 31, 2019	Dec. 31, 2018
U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Percentage of fair value pension plan assets	100.00%	100.00%
U.S. Plans \| Equity securities
Defined Benefit Plan Disclosure [Line Items]
Percentage of fair value pension plan assets	15.00%	15.00%
U.S. Plans \| Fixed-income securities
Defined Benefit Plan Disclosure [Line Items]
Percentage of fair value pension plan assets	85.00%	85.00%
U.S. Plans \| Real estate
Defined Benefit Plan Disclosure [Line Items]
Percentage of fair value pension plan assets	0.00%	0.00%
U.S. Plans \| Hedge funds
Defined Benefit Plan Disclosure [Line Items]
Percentage of fair value pension plan assets	0.00%	0.00%
U.S. Plans \| Buy-in annuity policies
Defined Benefit Plan Disclosure [Line Items]
Percentage of fair value pension plan assets	0.00%	0.00%
U.S. Plans \| Cash
Defined Benefit Plan Disclosure [Line Items]
Percentage of fair value pension plan assets	0.00%	0.00%
Non-U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Percentage of fair value pension plan assets	100.00%	100.00%
Non-U.S. Plans \| Equity securities
Defined Benefit Plan Disclosure [Line Items]
Percentage of fair value pension plan assets	26.00%	26.00%
Non-U.S. Plans \| Fixed-income securities
Defined Benefit Plan Disclosure [Line Items]
Percentage of fair value pension plan assets	54.00%	59.00%
Non-U.S. Plans \| Real estate
Defined Benefit Plan Disclosure [Line Items]
Percentage of fair value pension plan assets	6.00%	6.00%
Non-U.S. Plans \| Hedge funds
Defined Benefit Plan Disclosure [Line Items]
Percentage of fair value pension plan assets	1.00%	2.00%
Non-U.S. Plans \| Buy-in annuity policies
Defined Benefit Plan Disclosure [Line Items]
Percentage of fair value pension plan assets	12.00%	6.00%
Non-U.S. Plans \| Cash
Defined Benefit Plan Disclosure [Line Items]
Percentage of fair value pension plan assets	1.00%	1.00%

Benefit Plans - Estimated Future Benefit Payments for Pension Plans (Details) - Pension Plans $ in Millions	Dec. 31, 2019 USD ($)
U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
2020	$ 167
2021	102
2022	105
2023	105
2024	108
2025-2029	513
Non-U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
2020	380
2021	376
2022	385
2023	395
2024	403
2025-2029	$ 2,126

Benefit Plans - Benefit Obligation of Postretirement Benefit Plans (Details) - Postretirement Benefit Plans - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Projected benefit obligation at January 1	$ 366	$ 435
Service cost	5	6
Interest cost	15	15
Benefits paid	(16)	(19)
Currency	5	(11)
Assumption changes	34	(39)
Actuarial losses/(gains)	(6)	(21)
Projected benefit obligation at December 31	$ 403	$ 366

Benefit Plans - Weighted-Average Assumptions to Determine Postretirement Benefit Obligations (Details) - Postretirement Benefit Plans	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Discount rate	3.41%	4.37%
Health care cost trend rate assumed for next year	6.00%	6.25%
Ultimate trend rate	5.00%	5.00%
Year that the rate reaches the ultimate trend rate	2024	2024
Non-U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Discount rate	3.86%	4.40%
Health care cost trend rate assumed for next year	5.42%	5.44%
Ultimate trend rate	5.42%	5.44%
Year that the rate reaches the ultimate trend rate	2019	2018

Benefit Plans - One-Percentage-Point Change in Assumed Health Care Cost Trend Rates (Details) - Postretirement Health Care Plan $ in Millions	12 Months Ended
	Dec. 31, 2019 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Effect on postretirement benefit obligation, Increase	$ 39
Effect on annual service and interest cost, Increase	3
Effect on postretirement benefit obligation, Decrease	(33)
Effect on annual service and interest cost, Decrease	$ (2)

Benefit Plans - Components of Net Periodic Postretirement Health Care Costs (Details) - Postretirement Health Care Plan - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 5	$ 6	$ 7
Interest cost	15	14	15
Net loss from experience differences	6	15	14
Prior service credit	(38)	(39)	(40)
Net periodic postretirement health care costs/(benefit)	$ (12)	$ (4)	$ (4)

Benefit Plans - Future Benefit Payments for Postretirement Health Care Plans (Details) - Postretirement Health Care Plan $ in Millions	Dec. 31, 2019 USD ($)
U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
2020	$ 11
2021	12
2022	13
2023	14
2024	15
2025-2029	74
Non-U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
2020	5
2021	5
2022	5
2023	6
2024	6
2025-2029	$ 32

Benefit Plans - Changes in Accumulated Postemployment Benefit Obligations (Details) - Postemployment Benefit Plans - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Projected benefit obligation at January 1	$ 74	$ 76
Service cost	6	6	$ 5
Interest cost	5	4	4
Benefits paid	(9)	(7)
Assumption changes	3	(1)
Actuarial losses/(gains)	(13)	(4)
Projected benefit obligation at December 31	$ 66	$ 74	$ 76

Benefit Plans - Components of Net Postemployment Costs (Details) - Postemployment Benefit Plans - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 6	$ 6	$ 5
Interest cost	5	4	4
Amortization of net gains	(4)	(3)	(3)
Net periodic benefit cost	$ 7	$ 7	$ 6

Stock Plans - Additional Information (Details) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2019 USD ($) installment shares	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of performance share units vest ranges	0.00%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of performance share units vest ranges	200.00%
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of annual installments of stock options \| installment	3
Maximum term of stock options	10 years
Compensation expense	$ 38	$ 43	$ 50
Deferred tax benefit related to compensation expense	8	7	12
Unamortized compensation expense related to stock options	$ 35
Unamortized compensation expense recognition period	1 year 2 months 12 days
Restricted stock, deferred stock units and performance share units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	$ 97	85	87
Deferred tax benefit related to compensation expense	$ 16	$ 12	$ 23
Unamortized compensation expense recognition period	1 year 6 months
Unamortized compensation expense related to deferred stock units, performance share units and restricted stock	$ 106
Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares award expiration date	May 21, 2024
Shares authorized to be issued under stock option plan (in shares) \| shares	243.7
Shares available to be granted (in shares) \| shares	56.2

Stock Plans - Weighted-Average Black-Scholes Fair Value Assumptions (Details) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Payment Arrangement [Abstract]
Risk-Free Interest Rate	2.46%	2.68%	2.04%
Expected Life	5 years	5 years	6 years
Expected Volatility	19.96%	20.96%	22.75%
Expected Dividend Yield	2.37%	2.02%	1.74%
Fair Value at Grant Date (in dollars per share)	$ 7.83	$ 8.30	$ 8.57

Stock Plans - Stock Option Activity (Details) - USD ($)
$ / shares in Units, $ in Millions

12 Months Ended

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Dec. 31, 2016

Shares Subject to Option

Beginning balance (in shares)

43,818,830

48,434,655

53,601,612

Options granted (in shares)

4,861,990

5,834,836

6,175,020

Options exercised (in shares)

^[1]

(13,668,354)

(9,333,271)

(9,431,009)

Options cancelled (in shares)

(1,156,518)

(1,117,390)

(1,910,968)

Ending balance (in shares)

33,855,948

43,818,830

48,434,655

Exercisable at end of the period (in shares)

25,121,711

Weighted- Average Exercise or Grant Price Per Share

Beginning balance (in dollars per share)

$ 32.36

$ 29.92

$ 28.02

Options granted (in dollars per share)

47.76

43.16

43.18

Options exercised (in dollars per share)

27.53

25.16

26.17

Options cancelled (in dollars per share)

42.22

42.93

38.10

Ending balance (in dollars per share)

36.19

$ 32.36

$ 29.92

Exercisable at end of the period (in dollars per share)

$ 32.89

Average Remaining Contractual Term

Ending balance

5 years

Exercisable at end of the period

4 years

Aggregate Intrinsic Value

Options exercised

$ 306

$ 170

Aggregate intrinsic value

640

371

626

$ 874

Exercisable at end of the period

557

Cash received from options exercised

369

231

257

Actual tax benefit realized for the tax deductions from the option exercises

$ 40

$ 21

$ 31

Annual grant to eligible employees

Shares Subject to Option

Options granted (in shares)

4,793,570

5,666,530

6,012,140

Weighted- Average Exercise or Grant Price Per Share

Options granted (in dollars per share)

$ 47.72

$ 43.51

$ 43.20

Additional options issued

Shares Subject to Option

Options granted (in shares)

68,420

168,306

162,880

Weighted- Average Exercise or Grant Price Per Share

Options granted (in dollars per share)

$ 50.82

$ 31.40

$ 42.54

[1]

Stock Plans - Deferred Stock Units, Performance Share Units and Restricted Stock (Details) - USD ($)
$ / shares in Units, $ in Millions

12 Months Ended

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Beginning balance (in shares)

6,559,010

7,669,705

7,593,627

Ending balance (in shares)

1,763,163

2,283,832

3,470,323

Vested (in shares)

^[1]

(2,007,848)

(2,511,992)

^[2]

(2,622,807)

^[2]

Forfeited (in shares)

(652,380)

(882,535)

^[2]

(771,438)

^[2]

5,661,945

6,559,010

7,669,705

Beginning balance (in dollars per share)

^[3]

$ 42.19

$ 39.74

$ 36.90

Vested (in dollars per share)

^[3]

53.69

46.72

42.75

^[3]

37.81

38.91

35.78

Forfeited (in dollars per share)

^[3]

45.88

42.00

38.69

Ending balance (in dollars per share)

^[3]

$ 46.90

$ 42.19

$ 39.74

Weighted-Average Aggregate Fair Value

Total shares granted

$ 95

$ 107

$ 148

Vested

Actual tax benefit realized for the tax deductions from the shares vested

$ 2

$ 3

$ 7

Performance share units

891,210

1,048,770

1,087,010

^[3]

$ 57.91

$ 51.23

$ 43.14

Deferred stock units

666,880

788,310

845,550

Additional shares granted

^[3]

$ 47.72

$ 43.51

$ 43.20

^[4]

205,073

446,752

1,537,763

Annual grant to eligible employees

^[3]

$ 54.81

$ 41.78

$ 42.22

Grant Date

Grant date

Feb. 22, 2019

Feb. 22, 2018

Feb. 16, 2017

[1]	The actual tax benefit/(expense) realized and recorded in the provision for income taxes for the tax deductions from the shares vested totaled $2 million in 2019, $3 million in 2018 and $7 million in 2017.
[2]	Includes performance share units, deferred stock units and historically granted restricted stock.
[3]	The grant date fair value of performance share units is determined based on the Monte Carlo simulation model for the market-based total shareholder return component and the closing market price of the Company’s stock on the grant date for performance-based components. The Monte Carlo simulation model incorporates the probability of achieving the total shareholder return market condition. Compensation expense is recognized using the grant date fair values regardless of whether the market condition is achieved, so long as the requisite service has been provided.
[4]	Includes performance share units and deferred stock units.

Capital Stock - Additional Information (Details) - USD ($)		1 Months Ended	12 Months Ended			72 Months Ended
	Jan. 31, 2018	Jan. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018
Class of Stock [Line Items]
Common stock, shares authorized (in shares)			5,000,000,000	5,000,000,000		5,000,000,000
Preferred stock, shares issued (in shares)			0	0	0	0
Preferred stock, shares outstanding (in shares)			0	0	0	0
Amount of shares repurchased			$ 1,499,000,000	$ 1,994,000,000	$ 2,202,000,000
Class A Common Stock, no par value
Class of Stock [Line Items]
Common stock, shares authorized (in shares)			5,000,000,000.0
Preferred stock, shares authorized (in shares)			500,000,000
Common stock reserved for stock option and other stock awards (in shares)			96,000,000
Stock repurchase value				$ 13,700,000,000		$ 13,700,000,000
Amount of shares repurchased			$ 1,500,000,000
Number of shares repurchased (in shares)			30,902,465	47,258,884	50,598,902
Average cost of shares repurchased (in dollars per share)			$ 48.51
Stock repurchase remaining amount			$ 3,200,000,000
Class A Common Stock, no par value \| Subsequent Event
Class of Stock [Line Items]
Amount of shares repurchased		$ 19,000,000
Class A Common Stock, no par value \| Share Repurchase Program amended January 1, 2018
Class of Stock [Line Items]
Stock repurchase value	$ 19,700,000,000
Increase in share repurchase value	$ 6,000,000,000.0
Stock repurchase expiration date	Dec. 31, 2020
Common Stock \| Prior to January 1, 2018
Class of Stock [Line Items]
Amount of shares repurchased						$ 15,000,000,000.0

Capital Stock - Authorized Common Stock Repurchase Programs (Details) - shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Shares Issued
Balance at January 1 (in shares)	1,996,537,778
Balance at December 31 (in shares)	1,996,537,778	1,996,537,778
Treasury Shares
Balance at January 1 (in shares)	(545,537,923)
Balance at December 31 (in shares)	(561,531,524)	(545,537,923)
Class A Common Stock, no par value
Shares Issued
Balance at January 1 (in shares)	1,996,537,778	1,996,537,778	1,996,537,778
Exercise of stock options and issuance of other stock awards (in shares)	0	0	0
Balance at December 31 (in shares)	1,996,537,778	1,996,537,778	1,996,537,778
Treasury Shares
Balance at January 1 (in shares)	(545,537,923)	(508,401,694)	(468,172,237)
Shares repurchased (in shares)	(30,902,465)	(47,258,884)	(50,598,902)
Exercise of stock options and issuance of other stock awards (in shares)	14,908,864	10,122,655	10,369,445
Balance at December 31 (in shares)	(561,531,524)	(545,537,923)	(508,401,694)
Shares Outstanding
Balance at January 1 (in shares)	1,450,999,855	1,488,136,084	1,528,365,541
Shares repurchased (in shares)	(30,902,465)	(47,258,884)	(50,598,902)
Exercise of stock options and issuance of other stock awards (in shares)	14,908,864	10,122,655	10,369,445
Balance at December 31 (in shares)	1,435,006,254	1,450,999,855	1,488,136,084

Commitments and Contingencies (Details) R$ in Millions, ₨ in Billions				3 Months Ended									6 Months Ended	12 Months Ended
	Sep. 30, 2017 USD ($)	Sep. 30, 2017 BRL (R$)	Apr. 01, 2015	Dec. 31, 2019 USD ($) claim	Sep. 30, 2019 USD ($)	Jun. 30, 2019 USD ($)	Mar. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Sep. 30, 2018 USD ($)	Jun. 30, 2018 USD ($)	Mar. 31, 2018 USD ($)	Mar. 31, 2017 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2019 USD ($) claim	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2019 INR (₨) claim
Loss Contingencies [Line Items]
Provision for income taxes				$ (230,000,000)	$ 633,000,000	$ (216,000,000)	$ (189,000,000)	$ (111,000,000)	$ (310,000,000)	$ (15,000,000)	$ (337,000,000)			$ (2,000,000)	$ (773,000,000)	$ (666,000,000)
Selling, general and administrative expenses to offset tax benefit														6,136,000,000	$ 6,475,000,000	5,938,000,000
Contingency provision accruals	$ 212,000,000	R$ 667
Income due to reversal of accrued liability under tax indemnity												$ 58,000,000
Selling, general and administrative expenses
Loss Contingencies [Line Items]
Contingency provision accruals	153,000,000
Income due to reversal of accrued liability under tax indemnity												46,000,000
Interest and other expense, net
Loss Contingencies [Line Items]
Contingency provision accruals	$ 59,000,000															$ 59,000,000
Income due to reversal of accrued liability under tax indemnity												$ 12,000,000
Selling, general and administrative expenses and interest and other expense, net
Loss Contingencies [Line Items]
Income due to reversal of accrued liability under tax indemnity													$ 4,000,000
Groupe Danone S.A.Global LU Biscuit Business LU Biscuit
Loss Contingencies [Line Items]
Provision for income taxes										15,000,000
Selling, general and administrative expenses to offset tax benefit										11,000,000
Interest and other expense to offset tax benefit										$ 4,000,000
Indian Department of Central Excise Authority \| Cadbury
Loss Contingencies [Line Items]
Amount for formal claim of notice presented for unpaid excise tax, as of the balance sheet date				52,000,000										52,000,000			₨ 3.7
Indian Department of Central Excise Authority \| Cadbury \| Show case notice
Loss Contingencies [Line Items]
Amount for formal claim of notice presented for unpaid excise tax, as of the balance sheet date				$ 68,000,000										$ 68,000,000			₨ 4.9
Number of show cause notices \| claim				3										3			3
Percentage of principal demand for cases pending adjudication or appeal as of June 30, 2019				50.00%										50.00%			50.00%
Percentage of principal demand for cases where appeal was filed after June 30, 2019				60.00%										60.00%			60.00%
Loss contingency accrual				$ 65,000,000										$ 65,000,000			₨ 4.6
Indian Department of Central Excise Authority \| Cadbury \| Show case notice \| Selling, general and administrative expenses
Loss Contingencies [Line Items]
Net indirect tax expense to recorded as result of resolved tax amnesty				$ 85,000,000
BRAZIL \| Selling, general and administrative expenses
Loss Contingencies [Line Items]
Net benefit for legal settlement								$ 26,000,000
U.S. Commodity Futures Trading Commission ("CFTC")
Loss Contingencies [Line Items]
Loss contingency, filling date			Apr. 01, 2015
Loss contingency, damages sought														1,000,000
U.S. Commodity Futures Trading Commission ("CFTC") \| Each Additional Violation of the Commodity Exchange Act
Loss Contingencies [Line Items]
Loss contingency, damages sought														$ 140,000

Reclassifications from Accumulated Other Comprehensive Income - Changes in the Accumulated Balance of Components of Other Comprehensive Earnings/(Losses) (Details) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]

Less: other comprehensive (earnings)/loss attributable to noncontrolling interests

$ 25,713

$ 26,074

$ 25,195

(28)

Other comprehensive earnings/(losses)

370

(635)

1,149

372

(633)

1,121

Currency Translation Adjustments

27,351

25,713

26,074

AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]

Tax (expense)/benefit on gains/(losses)

(8,603)

(7,740)

(8,910)

250

(698)

984

Tax (expense)/benefit

(173)

214

299

(865)

1,198

Equity method investment transactions

(8,302)

(8,603)

(7,740)

AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]

Pension and Other Benefits Plans

AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]

Tax (expense)/benefit on gains/(losses)

(1,860)

(2,144)

(2,087)

(16)

Net gains/(losses) arising during period

(10)

(71)

Tax expense/(benefit) on reclassifications

^[1]

(42)

(36)

(65)

Currency impact

(19)

(183)

116

284

(57)

Amortization of experience losses and prior service costs

(1,744)

(1,860)

(2,144)

AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]

Settlement losses and other expenses

137

168

174

AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]

Derivative Cash Flow Hedges

AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]

Tax (expense)/benefit on gains/(losses)

(167)

(113)

(121)

Net gains/(losses) arising during period

(224)

(58)

(17)

Tax expense/(benefit) on reclassifications

^[1]

(1)

(6)

Currency impact

(11)

(45)

(54)

Derivative Cash Flow Hedges | Currency exchange contracts

(212)

(167)

(113)

AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]

Derivative Cash Flow Hedges | Commodity contracts

AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]

Derivative Cash Flow Hedges | Interest rate contracts

AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]

Accumulated other comprehensive income attributable to Mondelēz International

155

(11)

AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]

(10,630)

(9,997)

(11,118)

372

(633)

1,121

U.S. federal statutory rate

$ (10,258)

$ (10,630)

$ (9,997)

[1]	Taxes reclassified to earnings are recorded within the provision for income taxes.

Income Taxes - Additional Information (Details) - USD ($) $ in Millions		3 Months Ended								12 Months Ended
	Mar. 07, 2016	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Jan. 01, 2019	Dec. 31, 2016
Income Tax Contingency [Line Items]
Transition tax liability		$ 1,284				$ 1,279				$ 1,284	$ 1,279
Transition tax based on deemed repatriation of accumulated earnings and profits										$ 5
Effective tax rate										0.10%	27.20%	21.30%
Effective tax rate without the impact of Swiss tax reform										22.40%
Discrete one-time events expense (benefit)										$ (176)	$ 128	$ (97)
Tax benefit from audit settlements and statue of limitations										128	81
Net (loss)/gain on equity method investment transactions		0	$ 0	$ (25)	$ 23	21	$ 757	$ 0	$ 0	(2)	778	40
Discrete tax expense from finalizing accounting for new provisions											19
Loss carryforwards		3,491								3,491
Loss carryforwards, expire at various dates between 2020 and 2038		691								691
Loss carryforwards, indefinitely		2,800								2,800
Unremitted earnings indefinitely reinvested		1,600								1,600
Deferred tax liabilities not recognized to unremitted earnings indefinitely reinvested		75								75
Unrecognized tax benefits		426				$ 516				426	516	$ 579	$ 516	$ 610
Impact on tax provision from unrecognized tax benefits		364								364			463
Unrecognized tax benefits reasonably possible increase resulting from unfavorable audit developments										30
Unrecognized tax benefits reasonably possible decrease resulting from audit settlements and the expiration of statutes of limitations in various jurisdictions		140								140
Unrecognized tax benefits, income tax penalties and interest accrued		$ 170								170			$ 180
Net benefit for interest and penalties										$ 5
Keurig
Income Tax Contingency [Line Items]
Net (loss)/gain on equity method investment transactions	$ 43			$ (29)
Keurig \| Keurig with Dr Pepper Snapple Group, Inc.
Income Tax Contingency [Line Items]
Deferred tax expense related to gain on equity method investment transaction											192
KDP \| Keurig with Dr Pepper Snapple Group, Inc.
Income Tax Contingency [Line Items]
Net (loss)/gain on equity method investment transactions											$ 778
Foreign Tax Authority \| Swiss Tax Administration
Income Tax Contingency [Line Items]
Net benefit from impact of Swiss tax reform			767
Reduction on deferred tax expense from impact of Swiss tax reform			769
Indirect tax on selling, general and administrative expense			$ 2

Income Taxes - Provision for Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Earnings/(losses) from continuing operations before income taxes:
United States									$ 751	$ (170)	$ 354
Outside United States									2,696	3,012	2,770
Earnings before income taxes									3,447	2,842	3,124
United States federal:
Current									145	(34)	1,322
Deferred									97	171	(1,274)
Federal income tax									242	137	48
State and local:
Current									29	23	32
Deferred									45	61	30
State and local taxes									74	84	62
Total United States									316	221	110
Outside United States:
Current									459	552	541
Deferred									(773)	0	15
Total outside United States									(314)	552	556
Total provision for income taxes	$ 230	$ (633)	$ 216	$ 189	$ 111	$ 310	$ 15	$ 337	$ 2	$ 773	$ 666

Income Taxes - Effective Income Tax Rate Reconciliation (Details)

12 Months Ended

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Income Tax Contingency [Line Items]

21.00%

35.00%

Increase/(decrease) resulting from:

State and local income taxes, net of federal tax benefit

1.30%

0.40%

0.80%

Foreign rate differences

0.20%

(1.90%)

(10.80%)

Changes in judgment on realizability of deferred tax assets

(0.30%)

(0.40%)

3.20%

Reversal of other tax accruals no longer required

(3.00%)

(1.80%)

(1.70%)

Tax accrual on investment in Keurig (including tax impact of the gain from the KDP transaction)

0.80%

8.40%

1.20%

Excess tax benefits from equity compensation

(1.20%)

(0.80%)

(1.20%)

Foreign tax reform

0.40%

0.30%

(2.60%)

U.S. tax reform - deferred benefit from tax rate change

(0.415)

U.S. tax reform - transition tax

(0.001)

0.013

(0.422)

U.S. tax reform - changes in indefinite reinvestment assertion

0.00%

2.10%

(2.00%)

Foreign tax provisions under TCJA (GILTI, FDII and BEAT)(1)

^[1]

2.50%

1.10%

0.00%

Other

0.60%

0.10%

(1.30%)

Effective tax rate

0.10%

27.20%

21.30%

Swiss Tax Administration

Increase/(decrease) resulting from:

Foreign tax reform

(22.30%)

0.00%

[1]

The Tax Cuts and Jobs Act of 2017 ("TCJA") established the Global Intangible Low-Tax Income ("GILTI") provision, which taxes U.S. allocated expenses and certain income from foreign operations; the Foreign-Derived Intangible Income ("FDII")

Income Taxes - Deferred Tax Assets and Liabilities Temporary Differences (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Deferred income tax assets:
Accrued postretirement and postemployment benefits	$ 150	$ 147
Accrued pension costs	272	349
Other employee benefits	160	147
Accrued expenses	287	283
Loss carryforwards	589	707
Tax credit carryforwards	729	747
Other	438	302
Total deferred income tax assets	2,625	2,682
Valuation allowance	(1,243)	(1,153)
Net deferred income tax assets	1,382	1,529
Deferred income tax liabilities:
Intangible assets, including impact from Swiss tax reform	(2,772)	(3,861)
Property, plant and equipment	(663)	(473)
Other	(559)	(492)
Total deferred income tax liabilities	(3,994)	(4,826)
Net deferred income tax liabilities	$ (2,612)	$ (3,297)

Income Taxes - Change in Unrecognized Tax Benefit (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
January 1	$ 516	$ 579	$ 610
Increases from positions taken during prior periods	27	36	33
Decreases from positions taken during prior periods	(35)	(43)	(93)
Increases from positions taken during the current period	50	57	64
Decreases relating to settlements with taxing authorities	(64)	(45)	(54)
Reductions resulting from the lapse of the applicable statute of limitations	(64)	(31)	(29)
Currency/other	(4)	(37)	48
December 31	$ 426	$ 516	$ 579

Earnings per Share (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions

3 Months Ended

12 Months Ended

Dec. 31, 2019

Sep. 30, 2019

Jun. 30, 2019

Mar. 31, 2019

Dec. 31, 2018

Sep. 30, 2018

Jun. 30, 2018

Mar. 31, 2018

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Earnings Per Share [Abstract]

Net earnings

$ 729

^[1]

$ 1,428

^[1]

$ 808

^[1]

$ 920

^[1]

$ 826

^[1]

$ 1,197

^[1]

$ 320

^[1]

$ 1,052

^[1]

$ 3,885

$ 3,395

$ 2,842

Noncontrolling interest earnings

(3)

(5)

(1)

(6)

(3)

(2)

(6)

(15)

(14)

Net earnings attributable to Mondelēz International

$ 726

$ 1,423

$ 807

$ 914

$ 823

$ 1,194

$ 318

$ 1,046

$ 3,870

$ 3,381

$ 2,828

Weighted-average shares for basic EPS (in shares)

1,441

1,445

1,449

1,457

1,466

1,475

1,489

1,445

1,472

1,513

Plus incremental shares from assumed conversions of stock options and long-term incentive plan shares (in shares)

Weighted-average shares for diluted EPS (in shares)

1,453

1,458

1,461

1,470

1,480

1,488

1,505

1,458

1,486

1,531

Basic earnings per share attributable to Mondelēz International (in dollars per share)

$ 0.50

$ 0.98

$ 0.56

$ 0.63

$ 0.56

$ 0.81

$ 0.22

$ 0.70

$ 2.68

$ 2.30

$ 1.87

Diluted earnings per share attributable to Mondelēz International (in dollars per share)

$ 0.50

$ 0.98

$ 0.55

$ 0.63

$ 0.56

$ 0.81

$ 0.21

$ 0.70

$ 2.65

$ 2.28

$ 1.85

[1]	The third quarter of 2019 was significantly impacted by the $769 million net deferred tax benefit related to Swiss tax reform. Refer to Note 16, Income Taxes for more information.

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

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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.

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

+ References + Details

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

Segment Reporting - Additional Information (Details)	12 Months Ended
Segment Reporting - Additional Information (Details)	Dec. 31, 2019 segment
Segment Reporting Information [Line Items]
Number of operating segments	4
Number of customers accounted for 10% or more of net revenue	No single customer accounted for 10% or more of our net revenues from continuing operations in 2019
Customer Concentration Risk \| Net Revenues \| Five Largest Customers
Segment Reporting Information [Line Items]
Largest customer, percentage of net revenues	17.00%
Customer Concentration Risk \| Net Revenues \| Ten Largest Customers
Segment Reporting Information [Line Items]
Largest customer, percentage of net revenues	23.20%

Segment Reporting - Operating Income by Segment (Details) - USD ($)
$ in Millions

3 Months Ended

12 Months Ended

Dec. 31, 2019

Sep. 30, 2019

Jun. 30, 2019

Mar. 31, 2019

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Unrealized gains/(losses) on hedging activities (mark-to-market impacts)

$ 3,843

$ 3,312

$ 3,462

141

(96)

General corporate expenses

(330)

(335)

(282)

Amortization of intangibles

(174)

(176)

(178)

Net gains on divestitures

$ 0

$ 3

$ 41

$ 0

186

Acquisition-related costs

(3)

(13)

Benefit plan non-service income

^[1]

Interest and other expense, net

(456)

(520)

(382)

Earnings before income taxes

3,447

2,842

3,124

Latin America

341

410

564

AMEA

691

702

514

Europe

1,732

1,734

1,610

North America

Quarterly Financial Information Disclosure [Abstract]

$ 1,451

$ 849

$ 1,144

[1]

Segment Reporting - Net Revenues by Product Category (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Net revenues	$ 6,913	$ 6,355	$ 6,062	$ 6,538	$ 6,773	$ 6,288	$ 6,112	$ 6,765	$ 25,868	$ 25,938	$ 25,896
Biscuits
Segment Reporting Information [Line Items]
Net revenues									11,438	11,185	10,839
Chocolate
Segment Reporting Information [Line Items]
Net revenues									8,158	8,177	8,032
Gum & Candy
Segment Reporting Information [Line Items]
Net revenues									3,355	3,491	3,638
Beverages
Segment Reporting Information [Line Items]
Net revenues									1,095	1,184	1,355
Cheese & Grocery
Segment Reporting Information [Line Items]
Net revenues									1,822	1,901	2,032
Latin America
Segment Reporting Information [Line Items]
Net revenues									3,018	3,202	3,566
Latin America \| Biscuits
Segment Reporting Information [Line Items]
Net revenues									708	727	779
Latin America \| Chocolate
Segment Reporting Information [Line Items]
Net revenues									710	747	862
Latin America \| Gum & Candy
Segment Reporting Information [Line Items]
Net revenues									823	865	919
Latin America \| Beverages
Segment Reporting Information [Line Items]
Net revenues									452	533	665
Latin America \| Cheese & Grocery
Segment Reporting Information [Line Items]
Net revenues									325	330	341
AMEA
Segment Reporting Information [Line Items]
Net revenues									5,770	5,729	5,739
AMEA \| Biscuits
Segment Reporting Information [Line Items]
Net revenues									1,844	1,724	1,637
AMEA \| Chocolate
Segment Reporting Information [Line Items]
Net revenues									2,082	2,080	2,008
AMEA \| Gum & Candy
Segment Reporting Information [Line Items]
Net revenues									861	879	919
AMEA \| Beverages
Segment Reporting Information [Line Items]
Net revenues									546	553	569
AMEA \| Cheese & Grocery
Segment Reporting Information [Line Items]
Net revenues									437	493	606
Europe
Segment Reporting Information [Line Items]
Net revenues									9,972	10,122	9,794
Europe \| Biscuits
Segment Reporting Information [Line Items]
Net revenues									2,998	3,127	2,944
Europe \| Chocolate
Segment Reporting Information [Line Items]
Net revenues									5,119	5,083	4,869
Europe \| Gum & Candy
Segment Reporting Information [Line Items]
Net revenues									698	736	775
Europe \| Beverages
Segment Reporting Information [Line Items]
Net revenues									97	98	121
Europe \| Cheese & Grocery
Segment Reporting Information [Line Items]
Net revenues									1,060	1,078	1,085
North America
Segment Reporting Information [Line Items]
Net revenues									7,108	6,885	6,797
North America \| Biscuits
Segment Reporting Information [Line Items]
Net revenues									5,888	5,607	5,479
North America \| Chocolate
Segment Reporting Information [Line Items]
Net revenues									247	267	293
North America \| Gum & Candy
Segment Reporting Information [Line Items]
Net revenues									973	1,011	1,025
North America \| Beverages
Segment Reporting Information [Line Items]
Net revenues									0	0	0
North America \| Cheese & Grocery
Segment Reporting Information [Line Items]
Net revenues									$ 0	$ 0	$ 0

Quarterly Financial Data (Unaudited) - Summary of Operating Results (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions

3 Months Ended

12 Months Ended

Dec. 31, 2019

Sep. 30, 2019

Jun. 30, 2019

Mar. 31, 2019

Dec. 31, 2018

Sep. 30, 2018

Jun. 30, 2018

Mar. 31, 2018

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Net revenues

$ 6,913

$ 6,355

$ 6,062

$ 6,538

$ 6,773

$ 6,288

$ 6,112

$ 6,765

$ 25,868

$ 25,938

$ 25,896

Gross profit

2,759

2,516

2,469

2,593

2,549

2,414

2,540

2,849

10,337

10,352

10,034

(Provision)/benefit for income taxes

(230)

633

(216)

(189)

(111)

(310)

(15)

(337)

(2)

(773)

(666)

Net (loss)/gain on equity method investment transactions

(25)

757

(2)

778

Noncontrolling interest earnings

105

111

113

149

232

442

548

344

Net earnings

729

^[1]

1,428

^[1]

808

^[1]

920

^[1]

826

^[1]

1,197

^[1]

320

^[1]

1,052

^[1]

3,885

3,395

2,842

(3)

(5)

(1)

(6)

(3)

(2)

(6)

(15)

(14)

Net earnings attributable to Mondelēz International

$ 726

$ 1,423

$ 807

$ 914

$ 823

$ 1,194

$ 318

$ 1,046

$ 3,870

$ 3,381

$ 2,828

Weighted-average shares for basic EPS (in shares)

1,441

1,445

1,449

1,457

1,466

1,475

1,489

1,445

1,472

1,513

Plus incremental shares from assumed conversions of stock options and long-term incentive plan shares (in shares)

Weighted-average shares for diluted EPS (in shares)

1,453

1,458

1,461

1,470

1,480

1,488

1,505

1,458

1,486

1,531

Per share data:

Basic earnings per share attributable to Mondelēz International (in dollars per share)

$ 0.50

$ 0.98

$ 0.56

$ 0.63

$ 0.56

$ 0.81

$ 0.22

$ 0.70

$ 2.68

$ 2.30

$ 1.87

Diluted earnings per share attributable to Mondelēz International (in dollars per share)

0.50

0.98

0.55

0.63

0.56

0.81

0.21

0.70

$ 2.65

$ 2.28

$ 1.85

Dividends declared (in dollars per share)

$ 0.285

$ 0.26

$ 0.22

Swiss Tax Administration | Foreign Tax Authority

Effect of Fourth Quarter Events [Line Items]

Reduction on deferred tax expense from impact of Swiss tax reform

$ 769

[1]	The third quarter of 2019 was significantly impacted by the $769 million net deferred tax benefit related to Swiss tax reform. Refer to Note 16, Income Taxes for more information.

Quarterly Financial Data (Unaudited) - Pre-Tax (Charges)/Gains in Earnings from Continuing Operations (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Asset impairment and exit costs	$ (59)	$ (134)	$ (15)	$ (20)	$ (99)	$ (125)	$ (111)	$ (54)	$ (228)	$ (389)	$ (642)
Divestiture-related costs	0	4	(11)	1	(2)	0	0	3
Net gains on divestitures	0	3	41	0					44	0	186
Impact from pension participation changes	(3)	(3)	35	0	(17)	(3)	(409)	0
Impact from the resolution of tax matters	(85)	0	0	0	26	0	(15)	0
Loss related to interest rate swaps	0	(111)	0	0	0	1	(5)	14
Loss on early extinguishment of debt and related expenses					0	0	(140)	0	0	(140)	(11)
Net (loss)/gain on equity method investment transactions	0	0	(25)	23	21	757	0	0	$ (2)	$ 778	$ 40
Pre-tax charges/(gains) in earnings from continuing operations	$ (147)	$ (241)	$ 25	$ 4	$ (71)	$ 630	$ (680)	$ (37)

Valuation and Qualifying Accounts (Details) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]

$ 1,264

$ 1,022

$ 481

350

402

575

^[1]

(2)

(23)

^[2]

276

137

Allowance for trade receivables

1,336

1,264

1,022

SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]

^[1]

(4)

(6)

(8)

^[2]

Allowance for other current receivables

SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]

(1)

(10)

^[1]

(24)

^[2]

Allowance for long-term receivables

SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]

(1)

^[1]

^[2]

Allowance for deferred taxes

SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]

1,153

853

310

349

409

549

^[1]

^[2]

260

113