0001103982-20-000014 | 10-Q | XBRL Viewer | Mondelez International INC

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Cover Page - shares	9 Months Ended
Cover Page - shares	Sep. 30, 2020	Oct. 30, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2020
Document Transition Report	false
Entity File Number	1-16483
Entity Registrant Name	Mondelēz International, Inc.
Entity Incorporation, State or Country Code	VA
Entity Tax Identification Number	52-2284372
Entity Address, Address Line One	905 West Fulton Market, Suite 200
Entity Address, City or Town	Chicago,
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60607
City Area Code	847
Local Phone Number	943-4000
Entity Information [Line Items]
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		1,430,162,763
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001103982
Current Fiscal Year End Date	--12-31
Class A Common Stock, no par value
Entity Information [Line Items]
Title of 12(b) Security	Class A Common Stock, no par value
Trading Symbol	MDLZ
Security Exchange Name	NASDAQ
2.375% Notes due 2021
Entity Information [Line Items]
Title of 12(b) Security	2.375% Notes due 2021
Trading Symbol	MDLZ21
Security Exchange Name	NASDAQ
1.000% Notes due 2022
Entity Information [Line Items]
Title of 12(b) Security	1.000% Notes due 2022
Trading Symbol	MDLZ22
Security Exchange Name	NASDAQ
1.625% Notes due 2023
Entity Information [Line Items]
Title of 12(b) Security	1.625% Notes due 2023
Trading Symbol	MDLZ23
Security Exchange Name	NASDAQ
1.625% Notes due 2027
Entity Information [Line Items]
Title of 12(b) Security	1.625% Notes due 2027
Trading Symbol	MDLZ27
Security Exchange Name	NASDAQ
2.375% Notes due 2035
Entity Information [Line Items]
Title of 12(b) Security	2.375% Notes due 2035
Trading Symbol	MDLZ35
Security Exchange Name	NASDAQ
4.500% Notes due 2035
Entity Information [Line Items]
Title of 12(b) Security	4.500% Notes due 2035
Trading Symbol	MDLZ35A
Security Exchange Name	NASDAQ
3.875% Notes due 2045
Entity Information [Line Items]
Title of 12(b) Security	3.875% Notes due 2045
Trading Symbol	MDLZ45
Security Exchange Name	NASDAQ

Condensed Consolidated Statements of Earnings - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Statement [Abstract]
Net revenues	$ 6,665	$ 6,355	$ 19,283	$ 18,955
Cost of sales	3,873	3,839	11,709	11,377
Gross profit	2,792	2,516	7,574	7,578
Selling, general and administrative expenses	1,484	1,466	4,474	4,386
Asset impairment and exit costs	123	134	253	169
Net gain on divestiture	0	(3)	0	(44)
Amortization of intangibles	50	43	143	130
Operating income	1,135	876	2,704	2,937
Benefit plan non-service income	(38)	(13)	(102)	(42)
Interest and other expense, net	89	205	364	386
Earnings before income taxes	1,084	684	2,442	2,593
Income tax (provision)/benefit	(391)	633	(880)	228
Gain/(loss) on equity method investment transactions	345	0	537	(2)
Equity method investment net earnings	84	114	311	389
Net earnings	1,122	1,431	2,410	3,208
Noncontrolling interest earnings	(3)	(5)	(11)	(12)
Net earnings attributable to Mondelēz International	$ 1,119	$ 1,426	$ 2,399	$ 3,196
Per share data:
Basic earnings per share attributable to Mondelēz International (in dollars per share)	$ 0.78	$ 0.99	$ 1.68	$ 2.21
Diluted earnings per share attributable to Mondelēz International (in dollars per share)	$ 0.78	$ 0.98	$ 1.66	$ 2.19

Condensed Consolidated Statements of Comprehensive Earnings - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement of Comprehensive Income [Abstract]
Net earnings	$ 1,122	$ 1,431	$ 2,410	$ 3,208
Other comprehensive earnings/(losses), net of tax:
Currency translation adjustment	213	(347)	(1,077)	(154)
Pension and other benefit plans	(37)	89	28	144
Derivative cash flow hedges	(4)	36	55	(91)
Total other comprehensive earnings/(losses)	172	(222)	(994)	(101)
Comprehensive earnings/(losses)	1,294	1,209	1,416	3,107
less: Comprehensive earnings/(losses) attributable to noncontrolling interests	11	(4)	18	4
Comprehensive earnings/(losses) attributable to Mondelēz International	$ 1,283	$ 1,213	$ 1,398	$ 3,103

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
ASSETS
Cash and cash equivalents	$ 2,759	$ 1,291
Trade receivables (net of allowances of $41 at September 30, 2020 and $35 at December 31, 2019)	2,491	2,212
Other receivables (net of allowances of $40 at September 30, 2020 and $44 at December 31, 2019)	565	715
Inventories, net	2,840	2,546
Other current assets	791	866
Total current assets	9,446	7,630
Property, plant and equipment, net	8,533	8,733
Operating lease right of use assets	661	568
Goodwill	21,335	20,848
Intangible assets, net	18,056	17,957
Prepaid pension assets	654	516
Deferred income taxes	799	726
Equity method investments	6,488	7,178
Other assets	277	359
TOTAL ASSETS	66,249	64,515
LIABILITIES
Short-term borrowings	199	2,638
Current portion of long-term debt	999	1,581
Accounts payable	5,597	5,853
Accrued marketing	2,028	1,836
Accrued employment costs	760	769
Other current liabilities	3,102	2,645
Total current liabilities	12,685	15,322
Long-term debt	18,916	14,207
Long-term operating lease liabilities	484	403
Deferred income taxes	3,387	3,338
Accrued pension costs	1,115	1,190
Accrued postretirement health care costs	373	387
Other liabilities	2,261	2,351
TOTAL LIABILITIES	39,221	37,198
Commitments and Contingencies (Note 12)
EQUITY
Common Stock, no par value (5,000,000,000 shares authorized and 1,996,537,778 shares issued at September 30, 2020 and December 31, 2019)	0	0
Additional paid-in capital	32,054	32,019
Retained earnings	27,702	26,615
Accumulated other comprehensive losses	(11,255)	(10,254)
Treasury stock, at cost (566,694,393 shares at September 30, 2020 and 561,531,524 shares at December 31, 2019)	(21,558)	(21,139)
Total Mondelēz International Shareholders’ Equity	26,943	27,241
Noncontrolling interest	85	76
TOTAL EQUITY	27,028	27,317
TOTAL LIABILITIES AND EQUITY	$ 66,249	$ 64,515

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Trade receivables, allowances	$ 41	$ 35
Other receivables, allowances	$ 40	$ 44
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 (in shares)	566,694,393	561,531,524

Condensed 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, 2018	$ 25,602	$ 0	$ 31,961	$ 24,394	$ (10,644)	$ (20,185)	$ 76
Comprehensive earnings/(losses):
Net earnings	3,208			3,196			12
Other comprehensive earnings/(losses), net of income taxes	(101)				(93)		(8)
Exercise of stock options and issuance of other stock awards	423		37	(126)		512
Common Stock repurchased	(1,147)					(1,147)
Cash dividends declared	(1,164)			(1,164)
Dividends paid on noncontrolling interest and other activities	(12)						(12)
Balance at end of period at Sep. 30, 2019	26,809	0	31,998	26,300	(10,737)	(20,820)	68
Balance at beginning of period at Jun. 30, 2019	26,143	0	31,970	25,300	(10,524)	(20,684)	81
Comprehensive earnings/(losses):
Net earnings	1,431			1,426			5
Other comprehensive earnings/(losses), net of income taxes	(222)				(213)		(9)
Exercise of stock options and issuance of other stock awards	83		28	(15)		70
Common Stock repurchased	(206)					(206)
Cash dividends declared	(411)			(411)
Dividends paid on noncontrolling interest and other activities	(9)						(9)
Balance at end of period at Sep. 30, 2019	26,809	0	31,998	26,300	(10,737)	(20,820)	68
Balance at beginning of period at Dec. 31, 2019	27,317	0	32,019	26,615	(10,254)	(21,139)	76
Comprehensive earnings/(losses):
Net earnings	2,410			2,399			11
Other comprehensive earnings/(losses), net of income taxes	(994)				(1,001)		7
Exercise of stock options and issuance of other stock awards	269		35	(48)		282
Common Stock repurchased	(701)					(701)
Cash dividends declared	(1,269)			(1,269)
Dividends paid on noncontrolling interest and other activities	(4)			5			(9)
Balance at end of period at Sep. 30, 2020	27,028	0	32,054	27,702	(11,255)	(21,558)	85
Balance at beginning of period at Jun. 30, 2020	26,097	0	32,022	27,040	(11,419)	(21,625)	79
Comprehensive earnings/(losses):
Net earnings	1,122			1,119			3
Other comprehensive earnings/(losses), net of income taxes	172				164		8
Exercise of stock options and issuance of other stock awards	92		32	(7)		67
Cash dividends declared	(452)			(452)
Dividends paid on noncontrolling interest and other activities	(3)			2			(5)
Balance at end of period at Sep. 30, 2020	$ 27,028	$ 0	$ 32,054	$ 27,702	$ (11,255)	$ (21,558)	$ 85

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

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- Definition

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

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Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.

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Condensed Consolidated Statements of Equity (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Retained Earnings
Cash dividends declared (in dollars per share)	$ 0.315	$ 0.285	$ 0.885	$ 0.805

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
CASH PROVIDED BY/(USED IN) OPERATING ACTIVITIES
Net earnings	$ 2,410	$ 3,208
Adjustments to reconcile net earnings to operating cash flows:
Depreciation and amortization	813	777
Stock-based compensation expense	97	101
U.S. tax reform transition tax	0	2
Deferred income tax benefit	(103)	(738)
Asset impairments and accelerated depreciation	141	103
Net gain on divestiture	0	(44)
(Gain)/loss on equity method investment transactions	(537)	2
Equity method investment net earnings	(311)	(389)
Distributions from equity method investments	220	217
Other non-cash items, net	225	70
Change in assets and liabilities, net of acquisitions and divestitures:
Receivables, net	(259)	(217)
Inventories, net	(314)	(219)
Accounts payable	129	(259)
Other current assets	(64)	(113)
Other current liabilities	44	(499)
Change in pension and postretirement assets and liabilities, net	(176)	(120)
Net cash provided by operating activities	2,315	1,882
CASH PROVIDED BY/(USED IN) INVESTING ACTIVITIES
Capital expenditures	(630)	(686)
Acquisition, net of cash received	(1,142)	(284)
Proceeds from divestitures including equity method investments	1,357	166
Other	58	69
Net cash used in investing activities	(357)	(735)
CASH PROVIDED BY/(USED IN) FINANCING ACTIVITIES
Issuances of commercial paper, maturities greater than 90 days	677	809
Repayments of commercial paper, maturities greater than 90 days	(1,119)	(2,367)
Net issuances of other short-term borrowings	(2,001)	1,637
Long-term debt proceeds	5,987	1,596
Long-term debt repaid	(2,196)	(415)
Repurchase of Common Stock	(720)	(1,143)
Dividends paid	(1,227)	(1,131)
Other	104	328
Net cash used in financing activities	(495)	(686)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(1)	(24)
Cash, cash equivalents and restricted cash:
Increase	1,462	437
Balance at beginning of period	1,328	1,100
Balance at end of period	$ 2,790	$ 1,537

Basis of Presentation

9 Months Ended

Sep. 30, 2020

Accounting Policies [Abstract]

Basis of Presentation

Note 1. Basis of Presentation

Our interim condensed consolidated financial statements are unaudited. Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been omitted. It is management’s opinion that these financial statements include all normal and recurring adjustments necessary for a fair presentation of our results of operations, financial position and cash flows. Results of operations for any interim period are not necessarily indicative of future or annual results. For a complete set of consolidated financial statements and related notes, refer to our Annual Report on Form 10-K for the year ended December 31, 2019.

Principles of Consolidation:

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

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 that 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 Argentinian subsidiaries and changed their functional currency from the Argentinian peso to the U.S. dollar. On July 1, 2018, both monetary and non-monetary assets and liabilities denominated in Argentinian 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 September 30, 2020, our Argentinian operations had $6 million of Argentinian peso denominated net monetary assets. Our Argentinian operations contributed $77 million, or 1.2% of consolidated net revenues in the three months and $252 million, or 1.3% of consolidated net revenues in the nine months ended September 30, 2020. Within selling, general and administrative expenses, we recorded a remeasurement loss of $2 million during the three months and $7 million during the nine months ended September 30, 2020 as well as a remeasurement loss of $1 million during the three months and $2 million during the nine months ended September 30, 2019 related to the revaluation of the Argentinian peso denominated net monetary position over these periods.

Brexit. In the nine months ended September 30, 2020, we generated 8.8% of our consolidated 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. Through 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. On December 31, 2020, the United Kingdom will either exit the European Union and begin a new trade relationship with the European Union or will exit without a trade deal. As we approach the planned U.K. exit at the end of 2020, we are taking protective measures in response to the potential impacts on our results of operations and financial condition. 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 are taking 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 Brexit 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, including the impacts related to the global outbreak of the novel coronavirus (“COVID-19”) in 2020. Most countries in which we do business have recently experienced periods of significant economic uncertainty as well as exchange rate volatility. We continue to monitor COVID-19 and other impacts to our business operations, currencies and net monetary exposures in the countries in which we operate. At this time, except for Argentina which is accounted for as a highly inflationary economy, we do not anticipate any other countries in which we operate to be at risk of becoming highly inflationary countries.

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. We also have restricted cash that is recorded within other current assets and which was $31 million as of September 30, 2020 and $37 million as of December 31, 2019. Total cash, cash equivalents and restricted cash was $2,790 million as of September 30, 2020 and $1,328 million as of December 31, 2019.

Allowances for Credit Losses:

The allowances for credit losses are recorded against our receivables. They are developed at a country and region level based on historical collection experiences, current economic condition of specific customers and the forecasted economic condition of countries using various factors such as bond default rates and consumption indexes. We write off receivables once it is determined that the receivables are no longer collectible and as allowed by local laws.

Changes in allowances for credit losses consisted of:


	Allowance for Trade Receivables		Allowance for Other Current Receivables		Allowance for Long-Term Receivables
	(in millions)
Balance at January 1, 2020	$	(35)	$	(44)	$	(14)
Current period provision for expected credit losses	(9)		(1)		(2)
Write-offs charged against the allowance	1		2		—

Currency	2		3		5
Balance at September 30, 2020	$	(41)	$	(40)	$	(11)

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 non-recourse 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 $778 million as of September 30, 2020 and $760 million as of December 31, 2019. The incremental cost of factoring receivables under this arrangement was not material for all periods presented. The proceeds from the sales of receivables are included in cash from operating activities in the condensed consolidated statements of cash flows.

Non-Cash Lease Transactions:

We recorded $187 million in operating lease and $129 million in finance lease right-of-use assets obtained in exchange for lease obligations during the nine months ended September 30, 2020 and $91 million in operating lease and $48 million in finance lease right-of-use assets obtained in exchange for lease obligations during the nine months ended September 30, 2019.

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 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 standard and reflect the changes to our 2020 annual disclosures. This ASU is not expected to have an impact on our consolidated financial statements.

Reclassifications:

Certain amounts previously reported have been reclassified to conform to current-year presentation. During the second quarter of 2020, in connection with the JDE Peet's (as defined below) transaction (refer to Note 6, Equity Method Investments), we changed our accounting principle to reflect our share of Jacobs Douwe Egberts ("JDE") historical results and JDE Peet's ongoing results on a one-quarter lag basis while we continue to record dividends when cash is received. This change was applied retrospectively to all periods presented.

Acquisitions and Divestitures	9 Months Ended
Acquisitions and Divestitures	Sep. 30, 2020
Business Combinations [Abstract]
Acquisitions and Divestitures	Note 2. Acquisitions and Divestitures On April 1, 2020, we acquired a majority interest in Give & Go, a North American leader in fully-finished sweet baked goods and owner of the famous two-bite® brand of brownies and the Create-A-Treat® brand, known for cookie and gingerbread house decorating kits. The acquisition of Give & Go provides access to the in-store bakery channel and expands our position in broader snacking. The purchase consideration for Give & Go totaled $1,142 million, net of cash received. We are working to complete the valuation and have recorded a preliminary purchase price allocation of $511 million to definite-lived intangible assets, $42 million to indefinite-lived intangible assets, $529 million to goodwill, $137 million to property, plant and equipment, $59 million to operating lease right of use assets, $38 million to inventory, $29 million to accounts receivable, $5 million to other current assets, $41 million to current liabilities, $83 million to deferred tax liabilities, $56 million to long-term operating lease liabilities, $6 million to long-term debt and $19 million to long-term other liabilities. The acquisition added incremental net revenues of $125 million in the three months and $216 million in the nine months ended September 30, 2020, and operating income of $14 million during the three months and $6 million in the nine months ended September 30, 2020. We incurred an immaterial amount of acquisition-related costs during the three months and $15 million during the nine months ended September 30, 2020. 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. During the first quarter of 2020, we finalized the 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. Through the one-year anniversary of the acquisition, Perfect Snacks added incremental net revenues of $55 million and an immaterial amount of incremental operating income in 2020. 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. During 2019, we recorded a net pre-tax gain of $44 million on the sale. The divestiture resulted in year-over-year declines in net revenues of $55 million and operating income of $9 million during the nine months ended September 30, 2020. We incurred divestiture-related costs of $6 million in the three months and $4 million (including the reversal of $2 million divestiture-related costs no longer required) in the nine months ended September 30, 2020. We also reversed divestiture-related costs of $4 million in the three months and incurred $6 million in the nine months ended September 30, 2019.

Inventories

9 Months Ended

Sep. 30, 2020

Inventory Disclosure [Abstract]

Inventories

Note 3. Inventories

Inventories consisted of the following:


	As of September 30, 2020		As of December 31, 2019
	(in millions)
Raw materials	$	772	$	707
Finished product	2,183		1,953
	2,955		2,660
Inventory reserves	(115)		(114)
Inventories, net	$	2,840	$	2,546

Property, Plant and Equipment

9 Months Ended

Sep. 30, 2020

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

Note 4. Property, Plant and Equipment

Property, plant and equipment consisted of the following:


	As of September 30, 2020		As of December 31, 2019
	(in millions)
Land and land improvements	$	413	$	422
Buildings and building improvements	3,128		3,140
Machinery and equipment	11,419		11,295
Construction in progress	612		680
	15,572		15,537
Accumulated depreciation	(7,039)		(6,804)
Property, plant and equipment, net	$	8,533	$	8,733

For the nine months ended September 30, 2020, capital expenditures of $630 million excluded $203 million of accrued capital expenditures remaining unpaid at September 30, 2020 and included payment for $334 million of capital expenditures that were accrued and unpaid at December 31, 2019. For the nine months ended September 30, 2019, capital expenditures of $686 million excluded $203 million of accrued capital expenditures remaining unpaid at September 30, 2019 and included payment for $331 million of capital expenditures that were accrued and unpaid at December 31, 2018.

In connection with our restructuring program, we recorded non-cash property, plant and equipment write-downs (including accelerated depreciation and asset impairments) and losses/(gains) on disposal in the condensed consolidated statements of earnings within asset impairment and exit costs and within the segment results as follows (refer to Note 7, Restructuring Program).


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2020		2019		2020		2019
	(in millions)
Latin America	$	(13)	$	1	$	(13)	$	1
AMEA	—		(5)		4		(7)
Europe	1		42		3		45
North America	(1)		1		1		5
Total	$	(13)	$	39	$	(5)	$	44

Goodwill and Intangible Assets

9 Months Ended

Sep. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Note 5. Goodwill and Intangible Assets

Goodwill by segment was:


	As of September 30, 2020		As of December 31, 2019
	(in millions)
Latin America	$	654	$	818
AMEA	3,147		3,151
Europe	7,668		7,523
North America	9,866		9,356
Goodwill	$	21,335	$	20,848

Intangible assets consisted of the following:


	As of September 30, 2020		As of December 31, 2019
	(in millions)
Non-amortizable intangible assets	$	17,032	$	17,296
Amortizable intangible assets	2,831		2,374
	19,863		19,670
Accumulated amortization	(1,807)		(1,713)
Intangible assets, net	$	18,056	$	17,957

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 brands, customer-related intangibles, process technology, licenses and non-compete agreements.

Amortization expense for intangible assets was $50 million for the three months and $143 million for the nine months ended September 30, 2020 and $43 million for the three months and $130 million for the nine months ended September 30, 2019. For the next five years, we currently estimate annual amortization expense of approximately $190 million in 2020, approximately $120 million in 2021 and approximately $115 million in 2022-2024 (reflecting September 30, 2020 exchange rates).

Changes in goodwill and intangible assets consisted of:


	Goodwill		Intangible Assets, at cost
	(in millions)
Balance at January 1, 2020	$	20,848	$	19,670
Currency	(42)		(216)

Acquisition	529		553
Asset impairments	—		(144)
Balance at September 30, 2020	$	21,335	$	19,863

Changes to goodwill and intangibles were:

•Acquisition – In connection with our acquisition of a majority interest in Give & Go during the second quarter of 2020, we recorded a preliminary purchase price allocation of $529 million to goodwill and $553 million to intangible assets. See Note 2, Acquisitions and Divestitures, for additional information.

•Asset impairments – As further described below, during the nine months ended September 30, 2020, we recorded $144 million of intangible asset impairments resulting primarily from the impacts of COVID-19 that led to lower than expected growth for eight brands across our segments.

During the first six months of 2020, we evaluated our goodwill and intangible asset impairment risk using qualitative analysis. In light of the ongoing COVID-19 global pandemic, we performed further quantitative analysis over non-amortizable intangible assets during the second quarter of 2020, resulting in approximately $90 million of intangible asset impairment charges.

During the third quarter of 2020, we performed our annual impairment assessment test for goodwill and non-amortizable intangible assets as of July 1, 2020.

Our 2020 annual testing of goodwill resulted in no impairments as each reporting unit had sufficient fair value in excess of its carrying value. As part of our goodwill quantitative annual impairment testing, we compare a reporting unit's estimated fair value with its carrying value. If the carrying value of a reporting unit's net assets exceeds its fair value, we would record an impairment based on the difference between the carrying value and fair value of the reporting unit. 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 6.1% 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 9.1%. Estimating the fair value of individual reporting units requires us to make assumptions and estimates regarding our future plans and industry and economic conditions based on available information. Given the uncertainty of the global economic environment and the impact of COVID-19, those estimates could be significantly different than future performance. 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 2020 annual testing of non-amortizable intangible assets, we recorded approximately $54 million of impairment charges in the third quarter of 2020 related to three gum and chocolate brands. The ongoing impact of the pandemic resulted in greater declines in the sales and earnings for certain brands, particularly our gum brands. We have incorporated the latest results and a slower expected recovery for these brands in the revenue and earnings projections incorporated in our annual impairment testing. We recorded charges of $47 million in North America, $3 million in Europe and $3 million in Latin America. The impairment charges were calculated as the excess of the carrying value over the estimated fair value of the intangible assets on a global basis and were recorded within asset impairment and exit costs. We use several accepted valuation methods, including relief of royalty, excess earnings and excess margin, that utilize estimates of future sales, earnings growth rates, royalty rates and discount rates in determining a brand's global fair value. We also identified nine brands, including the three brands impaired in third quarter of 2020, with $712 million of aggregate book value as of September 30, 2020, that each had a fair value in excess of book value of 10% or less. We continue to monitor our brand performance, particularly in light of the significant uncertainty due to the COVID-19 pandemic and related impacts to our business. 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.

Equity Method Investments

9 Months Ended

Sep. 30, 2020

Equity Method Investments and Joint Ventures [Abstract]

Equity Method Investments

Note 6. Equity Method Investments

Equity method investments consist of our investments in entities in which we maintain an equity ownership interest and apply the equity method of accounting due to our ability to exert significant influence over decisions relating to their operating and financial affairs. Revenue and expenses of our equity method investees are not consolidated into our financial statements; rather, our proportionate share of the earnings of each investee is reflected as equity method investment net earnings. The carrying values of our equity method investments are also impacted by our proportionate share of items impacting the investee's accumulated other comprehensive income or losses and other items, such as our share of investee dividends.

Our equity method investments include, but are not limited to, our ownership interests in JDE Peet's (Euronext Amsterdam: "JDEP"), Keurig Dr Pepper Inc. (NASDAQ: "KDP"), Dong Suh Foods Corporation and Dong Suh Oil & Fats Co. Ltd. As of September 30, 2020, we owned 22.9%, 11.2%, 50.0% and 49.0%, respectively, of these companies' outstanding shares.

Our investments accounted for under the equity method of accounting totaled $6,488 million as of September 30, 2020 and $7,178 million as of December 31, 2019. We recorded equity earnings and cash dividends of $84 million and $27 million in the third quarter of 2020 and equity earnings and cash dividends of $114 million and $29 million in the third quarter of 2019. We recorded equity earnings and cash dividends of $311 million and $220 million in the first nine months of 2020 and equity earnings and cash dividends of $389 million and $217 million in the first nine months of 2019.

Based on the quoted closing prices as of September 30, 2020, the combined fair value of our publicly-traded investments in JDEP and KDP was $9.0 billion, and for each investment, its fair value exceeded its carrying value.

JDE / Keurig Exchange:

On March 7, 2016, we exchanged a portion of our 43.5% JDE equity interest for a new equity interest in Keurig Green Mountain, Inc. ("Keurig"). Following the transaction, our JDE equity interest became 26.5% and our new Keurig equity interest was 24.2%. During the first quarter of 2016, 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 in the net loss on equity method transactions in the second quarter of 2019.

Keurig Dr Pepper Transactions:

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). 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.

During the first quarter of 2019, we recognized a pre-tax gain of $23 million (or $18 million after-tax) related to the impact of a KDP acquisition that decreased our ownership interest from 13.8% to 13.6%.

On March 4, 2020, we participated in a secondary offering of KDP shares and sold approximately 6.8 million shares, which reduced our ownership interest by 0.5% to 13.1% of the total outstanding shares. We received $185 million of proceeds and recorded a pre-tax gain of $71 million (or $54 million after-tax) during the first quarter of 2020.

On August 3, 2020, we sold approximately 14.1 million shares of KDP, which reduced our ownership interest by 1.0% to 12.1% of the total outstanding shares. We received $414 million of proceeds and recorded a pre-tax gain of $181 million (or $139 million after-tax) during the third quarter of 2020.

On September 9, 2020, we sold approximately 12.5 million shares of KDP, which reduced our ownership interest by 0.9% to 11.2% of the total outstanding shares. We received $363 million of proceeds and recorded a pre-tax gain of $154 million (or $119 million after-tax) during the third quarter of 2020.

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.

JDE Peet’s Transaction:

On May 19, 2020, JDE Peet’s B.V. (renamed JDE Peet’s N.V. immediately prior to Settlement (as defined below), “JDE Peet’s”) announced its intention to launch an offering of its ordinary shares (the “offering”) and to apply for admission to listing and trading of all of its ordinary shares on Euronext Amsterdam, a regulated market operated by Euronext Amsterdam N.V. (the “admission”). On May 26, 2020, JDE Peet’s published a prospectus in connection with the offering and the admission. On May 29, 2020, JDE Peet’s announced the final pricing terms of the offering, and JDE Peet’s and the selling shareholders, including us, agreed to sell at a price of €31.50 per ordinary share a total of approximately 82.1 million ordinary shares, including ordinary shares subject to an over-allotment option. The ordinary shares were listed and first traded on May 29, 2020, and payment for, and delivery of, the ordinary shares sold in the offering (excluding ordinary shares subject to the over-allotment option) took place on June 2, 2020 (“Settlement”).

Prior to Settlement, we exchanged our 26.4% ownership interest in JDE for a 26.5% equity interest in JDE Peet’s. We did not invest new capital in connection with the transaction and the exchange was accounted for as a change in interest transaction. Upon Settlement, we sold approximately 9.7 million of our ordinary shares in JDE Peet’s in the offering for gross proceeds of €304 million ($343 million). We subsequently sold approximately 1.4 million additional shares and received gross proceeds of €46 million ($51 million) upon exercise of the over-allotment

option. Following Settlement and the exercise of the over-allotment option, we held a 22.9% equity interest in JDE Peet’s. During the second quarter of 2020, we recorded a preliminary gain of $121 million, net of $33 million released from accumulated other comprehensive losses, and $48 million of transaction costs. During the third quarter of 2020, we increased our preliminary gain by $10 million to $131 million.

As was the case in our ownership interest in JDE, we have significant influence with respect to JDE Peet’s, and we will continue to account for our investment in JDE Peet’s under the equity method, resulting in recognizing our share of JDE Peet’s earnings within our earnings and our share of JDE Peet’s dividends within our cash flows. In the second quarter of 2020, in connection with this transaction, we changed our accounting principle to reflect our share of JDE’s historical and JDE Peet’s ongoing earnings on a one-quarter lag basis, although 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, while recording our share of JDE Peet’s ongoing results after JDE Peet’s has publicly reported its results. This change in accounting principle was applied retrospectively to all periods.

The following tables show the primary line items on the condensed consolidated statements of earnings and comprehensive earnings and the condensed consolidated balance sheet that changed as a result of the lag. The condensed consolidated statements of cash flow and equity were also updated to reflect these changes.


	For the Three Months Ended September 30, 2019				For the Nine Months Ended September 30, 2019
	As Reported		As Recast		As Reported		As Recast
	(in millions, except per share data)
Statements of Earnings

Equity method investment net earnings	$	111	$	114	$	337	$	389
Net earnings	1,428		1,431		3,156		3,208
Net earnings attributable to Mondelēz International	1,423		1,426		3,144		3,196
Earnings per share attributable to Mondelēz International:
Basic EPS	$	0.98	$	0.99	$	2.17	$	2.21
Diluted EPS	$	0.98	$	0.98	$	2.15	$	2.19

Statements of Other Comprehensive Earnings
Currency translation adjustment	$	(314)	$	(347)	$	(157)	$	(154)
Pension and other benefit plans	86		89		150		144
Derivative cash flow hedges	43		36		(88)		(91)
Total other comprehensive earnings/(losses)	(185)		(222)		(95)		(101)
Comprehensive earnings/(losses) attributable to Mondelēz International	1,247		1,213		3,057		3,103


	As of December 31, 2019
	As Reported		As Recast
	(in millions)
Balance Sheet
Equity method investments	$	7,212	$	7,178
Total assets	64,549		64,515
Retained earnings	26,653		26,615
Accumulated other comprehensive losses	(10,258)		(10,254)
Total Mondelēz International shareholders' equity	27,275		27,241
Total equity	27,351		27,317

Restructuring Program

9 Months Ended

Sep. 30, 2020

Restructuring and Related Activities [Abstract]

Restructuring Program

Note 7. 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 charges ($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 implementation charges of $4.6 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 nine months ended September 30, 2020 was:


	Severance and related costs		Asset Write-downs		Total
	(in millions)
Liability balance, January 1, 2020	$	301	$	—	$	301
Charges	116		(5)		111
Cash spent	(113)		—		(113)
Non-cash settlements/adjustments	(6)		5		(1)
Currency	(2)		—		(2)
Liability balance, September 30, 2020	$	296	$	—	$	296

•We recorded restructuring charges of $68 million in the third quarter of 2020 and $77 million in the third quarter of 2019 and $111 million in the first nine months of 2020 and $117 million in the first nine months of 2019 within asset impairment and exit costs and benefit plan non-service income.

•We spent $44 million in the third quarter of 2020 and $35 million in the third quarter of 2019 and $113 million in the first nine months of 2020 and $124 million in the first nine months of 2019 in cash severance and related costs.

•We also recognized a gain on the sale of assets included in the restructuring program, partially offset by non-cash pension settlement losses (refer to Note 10, Benefit Plans), non-cash asset write-downs (including accelerated depreciation and asset impairments) and other non-cash adjustments totaling $13 million in the third quarter of 2020 and $41 million in the third quarter of 2019 and $1 million in the first nine months of 2020 and $76 million in the first nine months of 2019.

•At September 30, 2020, $258 million of our net restructuring liability was recorded within other current liabilities and $38 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 $46 million in the third quarter of 2020 and $75 million in the third quarter of 2019 and $141 million in the first nine months of 2020 and $193 million in the first nine months of 2019. We recorded these costs within cost of sales and general corporate expense within selling, general and administrative expenses.

Restructuring and Implementation Costs:

During the three and nine months ended September 30, 2020 and September 30, 2019, 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		Corporate		Total
	(in millions)
For the Three Months Ended September 30, 2020
Restructuring Costs	$	1	$	21	$	40	$	3	$	3	$	68
Implementation Costs	4		6		15		15		6		46
Total	$	5	$	27	$	55	$	18	$	9	$	114
For the Three Months Ended September 30, 2019
Restructuring Costs	$	3	$	(3)	$	73	$	1	$	3	$	77
Implementation Costs	8		9		27		9		22		75
Total	$	11	$	6	$	100	$	10	$	25	$	152
For the Nine Months Ended September 30, 2020
Restructuring Costs	$	19	$	25	$	52	$	3	$	12	$	111
Implementation Costs	12		12		40		36		41		141
Total	$	31	$	37	$	92	$	39	$	53	$	252
For the Nine Months Ended September 30, 2019
Restructuring Costs	$	10	$	6	$	84	$	7	$	10	$	117
Implementation Costs	36		22		55		22		58		193
Total	$	46	$	28	$	139	$	29	$	68	$	310
Total Project (Inception to Date)
Restructuring Costs	$	536	$	560	$	1,128	$	472	$	141	$	2,837
Implementation Costs	281		218		488		420		348		1,755
Total	$	817	$	778	$	1,616	$	892	$	489	$	4,592

Debt and Borrowing Arrangements

9 Months Ended

Sep. 30, 2020

Debt Disclosure [Abstract]

Debt and Borrowing Arrangements

Note 8. Debt and Borrowing Arrangements

Short-Term Borrowings:

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


	As of September 30, 2020				As of December 31, 2019
	Amount Outstanding		Weighted- Average Rate		Amount Outstanding		Weighted- Average Rate
	(in millions, except percentages)
Commercial paper	$	139	0.4	%	$	2,581	2.0	%
Bank loans	60		4.9	%	57		5.2	%
Total short-term borrowings	$	199			$	2,638

As of September 30, 2020, commercial paper issued and outstanding had between 1 and 62 days remaining to maturity. Commercial paper borrowings since year end decreased due to proceeds from issuances of long-term debt, sales of shares of KDP and JDEP stock holdings and operating cash flows offset in part by payments of long-term debt, share repurchases and dividend payments.

Some of our international subsidiaries maintain primarily uncommitted credit lines to meet short-term working capital needs. Collectively, these credit lines amounted to $1.5 billion at September 30, 2020 and $1.7 billion at December 31, 2019. Borrowings on these lines were $60 million at September 30, 2020 and $57 million at December 31, 2019.

Borrowing Arrangements:

On September 24, 2020, Mondelēz International Holdings B.V. (“MIHN”) repaid a $750 million term loan. The term loan and accrued interest to date were paid with the euro-denominated notes issued by MIHN on September 23, 2020 that are described below.

On March 24, 2020, we entered into a $1.75 billion revolving credit agreement for a 364-day senior unsecured credit facility that expires on March 23, 2021. On April 1, 2020, we increased the credit facility from $1.75 billion to $1.95 billion. The agreement includes the same terms and conditions as our existing $4.5 billion multi-year credit facility discussed below with the exception that proceeds from a long-term debt issuance would be used to reduce the credit facility. On September 8, 2020, we terminated this facility after issuing long-term debt.

On March 6, 2020, we entered into a $2.5 billion credit agreement for a 364-day unsecured credit facility that expires on March 5, 2021. The agreement includes the same terms and conditions as our existing $4.5 billion multi-year credit facility discussed below with the exception that proceeds from a long-term debt issuance would be used to reduce the credit facility. On May 6, 2020, we terminated this facility after issuing long-term debt and repaying previous drawdowns.

On February 26, 2020, we entered into a $1.5 billion revolving credit agreement for a 364-day senior unsecured credit facility that expires on February 24, 2021. The agreement replaces our previous credit agreement that was scheduled to expire on February 26, 2020 and includes the same terms and conditions as our existing $4.5 billion multi-year credit facility discussed below. As of September 30, 2020, no amounts were drawn on the facility.

We also maintain 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. The credit facility 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 September 30, 2020, we complied with this covenant as our shareholders' equity, as defined by the covenant, was $38.2 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 September 30, 2020, no amounts were drawn on the facility.

Long-Term Debt:

On October 16, 2020, we completed a cash tender offer and retired $949.7 million of long term U.S. dollar-denominated debt consisting of:

•$359 million of our 3.625% notes due on May 2023

•$203 million of our 4.000% notes due on February 2024

•$248 million of our 3.625% notes due on February 2026

•$27 million of our 4.125% notes due on May 2028

•$5 million of our 6.500% notes due on November 2031

•$1 million of our 7.000% notes due on August 2037

•$24 million of our 6.875% notes due on February 2038

•$10 million of our 6.875% notes due on January 2039

•$1 million of our 6.500% notes due on February 2040

•$71 million of our 4.625% notes due on May 2048

We financed the repurchase of these notes, including the payment of accrued interest and other costs incurred, from net proceeds received from the October 15, 2020 issuances totaling $1.25 billion described below. During the fourth quarter of 2020 we expect to record a loss on debt extinguishment of approximately $150 million within interest and other expense, net related to the amount we paid in excess of the carrying value of the debt and from recognizing unamortized discounts and deferred financing in earnings at the time of the debt extinguishment. Cash costs related to our tender for the debt will be included in other financing activities in the consolidated statement of cash flows and we will record $3.9 million of charges within interest and other expense, net from hedging instruments related to the retired debt. Upon the extinguishment of debt, the deferred cash flow hedge amounts were recorded in earnings.

On October 15, 2020, we issued $625 million of 1.875% U.S. dollar-denominated notes that mature on October 15, 2032. We received proceeds of $621.2 million, net of discounts and associated financing costs. The proceeds were used to fund the October 2020 debt tender and general corporate purposes. We recorded approximately $3.8

million of discounts and deferred financing costs that will be amortized evenly into interest expense over the life of the notes.

On October 15, 2020, we issued $625 million and on September 4, 2020 we issued $500 million of 2.625% U.S. dollar-denominated notes for a total aggregate principal of $1.13 billion that matures on September 4, 2050. We received proceeds of $1,093.8 million, net of discounts and associated financing costs. The proceeds were used to fund the October 2020 debt tender and general corporate purposes. We recorded approximately $31.2 million of discounts and deferred financing costs that will be amortized evenly into interest expense over the life of the notes.

On October 6, 2020, fr135 million (or $147 million) of our 0.625% Swiss franc-denominated notes matured. The notes and accrued interest to date were paid with cash on hand.

On September 23, 2020, MIHN issued €1.25 billion of euro-denominated notes guaranteed by Mondelēz International, Inc. consisting of €500 million 0.000% notes that mature on September 23, 2026 and €750 million 0.375% notes that mature on September 23, 2029. We received proceeds of €1.24 billion (or $1.46 billion), net of discounts and associated financing costs. The proceeds were used for general corporate purposes, including repayment of the MIHN term loan. We recorded approximately €11.6 million (or $13.7 million) of discounts and deferred financing costs that will be amortized evenly into interest expense over the life of the notes.

On September 4, 2020, we issued $500 million of 1.500% U.S. dollar-denominated notes that mature on February 4, 2031. We received proceeds of $494.8 million, net of discounts and associated financing costs. The proceeds were used to repay outstanding commercial paper borrowings and for general corporate purposes. We recorded approximately $5.2 million of discounts and deferred financing costs that will be amortized evenly into interest expense over the life of the notes.

On July 2, 2020, we issued $1.0 billion of 0.625% U.S. dollar-denominated notes that mature on July 1, 2022. We received proceeds of $998.1 million, net of discounts and associated financing costs. The proceeds were used to repay outstanding commercial paper borrowings and for general corporate purposes. We recorded approximately $1.9 million of discounts and deferred financing costs that will be amortized evenly into interest expense over the life of the notes.

On May 7, 2020, $750 million of our 3.000% U.S. dollar-denominated notes matured. The notes and accrued interest to date were paid with the issuance of commercial paper and cash on hand.

On May 4, 2020, we issued $750 million of 1.500% U.S. dollar-denominated notes that mature on May 4, 2025. We received proceeds of $743.9 million, net of discounts and associated financing costs. The proceeds were used to repay amounts outstanding under our revolving credit agreement and commercial paper borrowings and for general corporate purposes. We recorded approximately $6.1 million of discounts and deferred financing costs that will be amortized evenly into interest expense over the life of the notes.

On April 13, 2020, we issued $500 million of 2.750% U.S. dollar-denominated notes that mature on April 13, 2030. On May 4, 2020, we issued an additional $750 million of notes bringing the aggregate principal issued and due on April 13, 2030 to $1.25 billion. We received proceeds of $1,283.9 million, net of premium and associated financing costs. The proceeds were used to repay amounts outstanding under our revolving credit agreement and commercial paper borrowings and for general corporate purposes. We recorded approximately $33.9 million of premium and deferred financing costs that will be amortized evenly into interest expense over the life of the notes.

On April 13, 2020, we issued $500 million of 2.125% U.S. dollar-denominated notes that mature on April 13, 2023. We received proceeds of $497.8 million, net of discounts and associated financing costs. The proceeds were used to repay amounts outstanding under our revolving credit agreement. We recorded approximately $2.2 million of discounts and deferred financing costs that will be amortized evenly into interest expense over the life of the notes.

On March 30, 2020, fr225 million (or $235 million) of our 0.050% Swiss franc-denominated notes matured. The notes and accrued interest to date were paid from the amounts drawn on our 364-day revolving credit facility, commercial paper and cash on hand.

On February 10, 2020, $427 million of our 5.375% U.S. dollar-denominated notes matured. The notes and accrued interest to date were paid with the issuance of commercial paper and cash on hand.

Fair Value of Our Debt:

The fair value of our short-term borrowings at September 30, 2020 and December 31, 2019 reflects current market interest rates and approximates the amounts we have recorded on our condensed 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 September 30, 2020, the aggregate fair value of our total debt was $21,638 million and its carrying value was $20,114 million. At December 31, 2019, the aggregate fair value of our total debt was $19,388 million and its carrying value was $18,426 million.

Interest and Other Expense, net:

Interest and other expense, net consisted of:


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2020		2019		2020		2019
	(in millions)
Interest expense, debt	$	104	$	121	$	322	$	371
Loss related to interest rate swaps	—		111		103		111
Other (income)/expense, net	(15)		(27)		(61)		(96)
Interest and other expense, net	$	89	$	205	$	364	$	386

Other income includes amounts excluded from hedge effectiveness related to our net investment hedge derivative contracts and totaled $28 million and $92 million for the three and nine months ended September 30, 2020 and $34 million and $101 million for the three and nine months ended September 30, 2019.

Financial Instruments

9 Months Ended

Sep. 30, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Financial Instruments

Note 9. Financial Instruments

Fair Value of Derivative Instruments:

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


	As of September 30, 2020				As of December 31, 2019
	Asset Derivatives		Liability Derivatives		Asset Derivatives		Liability Derivatives
	(in millions)
Derivatives designated as accounting hedges:
Interest rate contracts	$	13	$	176	$	19	$	190
Net investment hedge derivative contracts (1)	275		74		312		65
	$	288	$	250	$	331	$	255
Derivatives not designated as accounting hedges:
Currency exchange contracts	$	88	$	74	$	67	$	50
Commodity contracts	170		162		201		120
	$	258	$	236	$	268	$	170
Total fair value	$	546	$	486	$	599	$	425

(1)Net investment hedge derivative 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 8, 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 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 condensed 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 September 30, 2020
	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	$	14	$	—	$	14	$	—
Commodity contracts	8		18		(10)		—
Interest rate contracts	(163)		—		(163)		—
Net investment hedge contracts	201		—		201		—
Total derivatives	$	60	$	18	$	42	$	—


	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	$	—

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 notional values of our hedging instruments were:


	Notional Amount
	As of September 30, 2020		As of December 31, 2019
	(in millions)
Currency exchange contracts:
Intercompany loans and forecasted interest payments	$	2,206	$	2,474
Forecasted transactions	4,117		3,993
Commodity contracts	8,136		7,238
Interest rate contracts	3,500		5,250
Net investment hedges:
Net investment hedge derivative contracts	6,168		6,864
Non-U.S. dollar debt designated as net investment hedges
Euro notes	3,592		3,436
British pound sterling notes	340		349
Swiss franc notes	1,276		1,448
Canadian dollar notes	450		462

Cash Flow Hedges:

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


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2020		2019		2020		2019
	(in millions)
Accumulated (loss)/gain at beginning of period	$	(154)	$	(295)	$	(213)	$	(168)
Transfer of realized losses/(gains) in fair value to earnings	65		111		153		123
Unrealized (loss)/gain in fair value	(69)		(75)		(98)		(214)
Accumulated (loss)/gain at end of period	$	(158)	$	(259)	$	(158)	$	(259)

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


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2020		2019		2020		2019
	(in millions)

Interest rate contracts	$	(65)	$	(111)	$	(153)	$	(123)

Within interest and other expense, net, we recognized losses related to forward-starting interest rate swaps of $79 million ($103 million pre-tax) within the first quarter of 2020 and $111 million for the three and nine months ended September 30, 2019 due to the changes in related forecasted debt.

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


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2020		2019		2020		2019
	(in millions)
Currency exchange contracts – forecasted transactions	$	—	$	—	$	(1)	$	3
Interest rate contracts	(69)		(75)		(97)		(217)
Total	$	(69)	$	(75)	$	(98)	$	(214)

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 interest and other expense, net for interest rate contracts.

Based on current market conditions, we would expect to transfer losses of $20 million (net of taxes) for interest rate cash flow hedges to earnings during the next 12 months.

Cash Flow Hedge Coverage:

As of September 30, 2020, our longest dated cash flow hedges were interest rate swaps that hedge forecasted interest rate payments over the next 4 years.

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. The aggregate notional value as of September 30, 2020 was $6.2 billion. The impacts of the net investment hedge derivative contracts on other comprehensive earnings and net earnings were as follows:


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2020		2019		2020		2019
	(in millions)
After-tax gain/(loss) on NIH contracts(1)	$	(223)	$	193	$	(6)	$	260

(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 condensed consolidated statement of cash flows.


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2020		2019		2020		2019
	(in millions)
Amounts excluded from the assessment of hedge effectiveness(1)	$	28	$	34	$	92	$	101

(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 Three Months Ended September 30,				For the Nine Months Ended September 30,
	2020		2019		2020		2019
	(in millions)
Euro notes	$	(122)	$	111	$	(135)	$	133
British pound sterling notes	(10)		8		7		9
Swiss franc notes	(27)		24		(47)		16
Canadian notes	(6)		4		9		(10)

Economic Hedges:

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


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,				Location of Gain/(Loss) Recognized in Earnings
	2020		2019		2020		2019
	(in millions)
Currency exchange contracts:
Intercompany loans and forecasted interest payments	$	7	$	60	$	(73)	$	71	Interest and other expense, net
Forecasted transactions	28		50		50		30		Cost of sales
Forecasted transactions	6		(1)		(3)		(2)		Interest and other expense, net
Forecasted transactions	(1)		(1)		(2)		(6)		Selling, general and administrative expenses
Commodity contracts	136		(38)		(47)		28		Cost of sales
Total	$	176	$	70	$	(75)	$	121

Benefit Plans

9 Months Ended

Sep. 30, 2020

Retirement Benefits [Abstract]

Benefit Plans

Note 10. Benefit Plans

Pension Plans

Components of Net Periodic Pension Cost:

Net periodic pension cost consisted of the following:


	U.S. Plans				Non-U.S. Plans
	For the Three Months Ended September 30,				For the Three Months Ended September 30,
	2020		2019		2020		2019
	(in millions)
Service cost	$	1	$	10	$	30	$	30
Interest cost	12		15		37		49
Expected return on plan assets	(19)		(22)		(100)		(99)
Amortization:
Net loss from experience differences	5		9		29		36
Prior service cost/(benefit)	1		—		(2)		(2)
Settlement losses and other expenses (1)	3		5		—		—
Net periodic pension cost	$	3	$	17	$	(6)	$	14

	U.S. Plans				Non-U.S. Plans
	For the Nine Months Ended September 30,				For the Nine Months Ended September 30,
	2020		2019		2020		2019
	(in millions)
Service cost	$	4	$	28	$	89	$	91
Interest cost	38		46		110		151
Expected return on plan assets	(58)		(66)		(295)		(303)
Amortization:
Net loss from experience differences	13		19		86		111
Prior service cost/(credit)	1		1		(5)		(5)
Settlement losses and other expenses (1)	15		13		2		3
Net periodic pension cost	$	13	$	41	$	(13)	$	48

(1)In connection with our Simplify to Grow Program, settlement losses and other expenses were less than $1 million for the three months and $4 million for the nine months ended September 30, 2020 and $2 million for the three months and $7 million for the nine months ended September 30, 2019. These losses were recorded within benefit plan non-service income on our condensed consolidated statements of earnings.

Employer Contributions:

During the nine months ended September 30, 2020, we contributed $12 million to our U.S. pension plans and $147 million to our non-U.S. pension plans, including $70 million to plans in the United Kingdom and Ireland. 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.

As of September 30, 2020, over the remainder of 2020, we plan to make further contributions of approximately $4 million to our U.S. plans and approximately $43 million to our non-U.S. plans. 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.

Multiemployer Pension Plans:

On July 11, 2019, we received an undiscounted withdrawal liability assessment related to our complete withdrawal from the Bakery and Confectionery Union and Industry International Pension Fund totaling $526 million requiring pro-rata monthly payments over 20 years. We began making monthly payments during the third quarter of 2019. Within selling, general and administrative expenses, we recorded a $35 million ($26 million net of tax) adjustment in the three months ended June 30, 2019 related to the discounted withdrawal liability. We recorded accreted interest of $3 million and $9 million for the three and nine months ended September 30, 2020 and an immaterial amount for the three and nine months ended September 30, 2019 on the long-term liability within interest and other expense, net. As of September 30, 2020, the remaining discounted withdrawal liability was $379 million, with $14 million recorded in other current liabilities and $365 million recorded in long-term other liabilities.

Postretirement Benefit Plans

Net periodic postretirement health care benefit consisted of the following:


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2020		2019		2020		2019
	(in millions)
Service cost	$	1	$	1	$	4	$	4
Interest cost	3		4		9		11
Amortization:
Net loss from experience differences	1		2		5		5
Prior service credit	(8)		(10)		(23)		(29)
Net periodic postretirement health care benefit	$	(3)	$	(3)	$	(5)	$	(9)

Postemployment Benefit Plans

Net periodic postemployment cost consisted of the following:


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2020		2019		2020		2019
	(in millions)
Service cost	$	1	$	1	$	4	$	4
Interest cost	1		1		3		3
Amortization of net gains	(1)		(1)		(3)		(2)
Net periodic postemployment cost	$	1	$	1	$	4	$	5

- Definition

The entire disclosure for retirement benefits.

+ References

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+ Details

Stock Plans

9 Months Ended

Sep. 30, 2020

Share-based Payment Arrangement [Abstract]

Stock Plans

Note 11. Stock Plans

Stock Options:

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, 2020	33,855,948	$36.19	5 years	$	640	million
Annual grant to eligible employees	2,280,440	59.04
Additional options issued	131,970	49.23
Total options granted	2,412,410	58.50
Options exercised (1)	(6,737,525)	30.71		$	173	million
Options canceled	(558,246)	44.10
Balance at September 30, 2020	28,972,587	39.16	5 years	$	533	million

(1)Cash received from options exercised was $59 million in the three months and $201 million in the nine months ended September 30, 2020. The actual tax benefit realized and recorded in the provision for income taxes for the tax deductions from the option exercises totaled $5 million in the three months and $23 million in the nine months ended September 30, 2020.

Performance Share Units and Other Stock-Based Awards:

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


	Number of Shares	Grant Date	Weighted-Average Fair Value Per Share (3)	Weighted-Average Aggregate Fair Value (3)
Balance at January 1, 2020	5,661,945		$46.90
Annual grant to eligible employees:		Feb. 20, 2020
Performance share units	825,230		65.83
Deferred stock units	545,550		59.04
Additional shares granted (1)	371,761	Various	56.82
Total shares granted	1,742,541		61.78	$	108	million
Vested (2)	(1,718,365)		43.04	$	74	million
Forfeited	(422,229)		47.33
Balance at September 30, 2020	5,263,892		53.05

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

(2)The actual tax benefit/(expense) realized and recorded in the provision for income taxes for the tax deductions from the shares vested totaled less than $1 million in the three months and $3 million in the nine months ended September 30, 2020.

(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.

Share Repurchase Program:

Between 2013 and 2017, our Board of Directors authorized the repurchase of a total of $13.7 billion of our Common Stock through December 31, 2018. On January 31, 2018, our Finance Committee, with authorization delegated from our Board of Directors, approved an increase of $6.0 billion in the share repurchase program, raising the authorization to $19.7 billion of Common Stock repurchases, and extended the program through December 31, 2020. Repurchases under the program are determined by management and are wholly discretionary. Prior to January 1, 2020, we had repurchased $16.5 billion of Common Stock pursuant to this authorization. During the nine months ended September 30, 2020, we repurchased approximately 12.9 million shares of Common Stock at an average cost of $54.25 per share, or an aggregate cost of approximately $0.7 billion, all of which was paid during the period. All share repurchases were funded through available cash and commercial paper issuances. As of September 30, 2020, we have $2.5 billion in remaining share repurchase capacity.

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 12. Commitments and Contingencies Legal Proceedings: We routinely are involved in legal proceedings, claims, disputes, regulatory matters and governmental inspections or investigations arising in the ordinary course of or incidental to our business, including those noted below 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 we have not provided for 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. 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 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. The parties have reached a new agreement in principle to resolve the CFTC action and have submitted the settlement to the District Court for approval. The District Court cancelled a scheduled conference on June 4, 2020 to discuss the proposed settlement agreement but indicated that it would rule on pending motions in due course. 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 plantiffs' request to certify a class. 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 and expect to engage further with the European Commission as their investigation proceeds. It is not possible to predict how long the investigation will take or the ultimate outcome of this matter. 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 September 30, 2020, we had no material third-party guarantees recorded on our condensed 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.

Reclassifications from Accumulated Other Comprehensive Income

9 Months Ended

Sep. 30, 2020

Equity [Abstract]

Reclassifications from Accumulated Other Comprehensive Income

Note 13. Reclassifications from Accumulated Other Comprehensive Income

The following table summarizes the changes in 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 $86 million in the third quarter of 2020 and $143 million in the third quarter of 2019 and $252 million in the first nine months of 2020 and $231 million in the first nine months of 2019.


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2020		2019		2020		2019
	(in millions)
Currency Translation Adjustments:
Balance at beginning of period	$	(9,609)	$	(8,430)	$	(8,320)	$	(8,622)
Currency translation adjustments	184		(316)		(1,071)		(144)
Reclassification to earnings related to:
Equity method investment transactions (1)	—		—		29		—
Tax (expense)/benefit	29		(31)		(35)		(10)
Other comprehensive earnings/(losses)	213		(347)		(1,077)		(154)
Less: other comprehensive (earnings)/loss attributable to noncontrolling interests	(8)		9		(7)		8
Balance at end of period	(9,404)		(8,768)		(9,404)		(8,768)
Pension and Other Benefit Plans:
Balance at beginning of period	$	(1,656)	$	(1,799)	$	(1,721)	$	(1,854)
Net actuarial gain/(loss) arising during period	2		4		(22)		(28)
Tax (expense)/benefit on net actuarial gain/(loss)	—		(1)		(1)		6
Losses/(gains) reclassified into net earnings:
Amortization of experience losses and prior service costs (2)	25		34		74		100
Settlement losses and other expenses (1)	3		5		18		33
Tax expense/(benefit) on reclassifications (3)	(7)		(7)		(22)		(25)
Currency impact	(60)		54		(19)		58
Other comprehensive earnings/(losses)	(37)		89		28		144
Balance at end of period	(1,693)		(1,710)		(1,693)		(1,710)
Derivative Cash Flow Hedges:
Balance at beginning of period	$	(154)	$	(295)	$	(213)	$	(168)
Net derivative gains/(losses)	(67)		(74)		(123)		(232)
Tax (expense)/benefit on net derivative gain/(loss)	1		10		27		28
Losses/(gains) reclassified into net earnings:
Interest rate contracts (1) (4)	66		111		179		123
Tax expense/(benefit) on reclassifications (3)	(1)		—		(26)		—
Currency impact	(3)		(11)		(2)		(10)
Other comprehensive earnings/(losses)	(4)		36		55		(91)
Balance at end of period	(158)		(259)		(158)		(259)
Accumulated other comprehensive income attributable to Mondelēz International:
Balance at beginning of period	$	(11,419)	$	(10,524)	$	(10,254)	$	(10,644)
Total other comprehensive earnings/(losses)	172		(222)		(994)		(101)
Less: other comprehensive (earnings)/loss attributable to noncontrolling interests	(8)		9		(7)		8
Other comprehensive earnings/(losses) attributable to Mondelēz International	164		(213)		(1,001)		(93)
Balance at end of period	$	(11,255)	$	(10,737)	$	(11,255)	$	(10,737)

(1)These amounts include equity method investment transactions recorded within gain/(loss) on equity method investment transactions.

(2)These reclassified losses are included in net periodic benefit costs disclosed in Note 10, Benefit Plans.

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

(4)These reclassified gains or losses are recorded within interest and other expense, net..

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Note 14. Income Taxes As of the third quarter of 2020, our estimated annual effective tax rate, which excludes discrete tax impacts, was 27.3%. This rate reflected the impact of unfavorable foreign provisions under U.S. tax laws and our tax related to earnings from equity method investments (the earnings are reported separately on our statement of earnings and thus not included in earnings before income taxes), partially offset by favorable impacts from the mix of pre-tax income in various non-U.S. jurisdictions. Our 2020 third quarter effective tax rate of 36.1% was high due to a $77 million tax expense incurred in connection with two KDP share sales that occurred during the third quarter (the related gains are reported separately in our statement of earnings and thus not included in earnings before income taxes). Excluding this impact, our third quarter effective tax rate was 29.0%, reflecting a discrete net tax expense of $22 million. The discrete net tax expense primarily consisted of a $30 million net expense from the increase of our U.K. deferred tax liabilities resulting from tax legislation enacted during the third quarter that increased the corporate income tax rate in the United Kingdom, partially offset by a $7 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 effective tax rate for the nine months ended September 30, 2020 of 36.0% was also high due to the $355 million net tax expense incurred in connection with the JDE Peet's transaction and three KDP share sales (one in the first quarter and two in the third quarter) that occurred during 2020. Excluding these impacts, our effective tax rate for the nine months ended September 30, 2020 was 21.5%, which was favorably impacted by discrete net tax benefits of $96 million, primarily driven by the $70 million net benefit from the release of the China valuation allowance and a $31 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. 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, it is our position that 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 were effective starting January 1, 2020. As of the third quarter of 2019, our estimated annual effective tax rate, which excluded discrete tax impacts, was 25.4%. This rate reflected the impact of unfavorable foreign provisions under U.S. tax laws and our tax related to earnings from equity method investments (the earnings are reported separately on our statement of earnings and thus not included in earnings before income taxes), partially offset by favorable impacts from the mix of pre-tax income in various non-U.S. jurisdictions. Our 2019 third quarter effective tax rate of (92.5)% was significantly impacted by the $769 million net deferred tax benefit related to Swiss tax reform. Excluding this impact, our third quarter effective tax rate was 20.0%, reflecting a discrete net tax benefit of $39 million. The discrete net tax benefit primarily consisted of a $17 million net benefit from the release of uncertain tax positions due to the expirations of statutes of limitations and audit settlements in several jurisdictions and a $12 million net benefit related to the release of valuation allowances in non-U.S. jurisdictions. Our effective tax rate for the nine months ended September 30, 2019 of (8.8)% was also impacted by the $769 million net deferred tax benefit related to Swiss tax reform. Excluding this impact, our effective tax rate for the nine months was 20.9%, which reflects discrete net tax benefits of $110 million. The discrete net tax benefits were primarily driven by a $101 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.

- Definition

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

+ References + Details

Earnings per Share

9 Months Ended

Sep. 30, 2020

Earnings Per Share [Abstract]

Earnings per Share

Note 15. Earnings per Share

Basic and diluted earnings per share (“EPS”) were calculated as follows:


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2020		2019		2020		2019
	(in millions, except per share data)
Net earnings	$	1,122	$	1,431	$	2,410	$	3,208
Noncontrolling interest earnings	(3)		(5)		(11)		(12)
Net earnings attributable to Mondelēz International	$	1,119	$	1,426	$	2,399	$	3,196
Weighted-average shares for basic EPS	1,432		1,445		1,432		1,446
Plus incremental shares from assumed conversions of stock options and long-term incentive plan shares	10		13		10		13
Weighted-average shares for diluted EPS	1,442		1,458		1,442		1,459
Basic earnings per share attributable to Mondelēz International	$	0.78	$	0.99	$	1.68	$	2.21
Diluted earnings per share attributable to Mondelēz International	$	0.78	$	0.98	$	1.66	$	2.19

We exclude antidilutive Mondelēz International stock options from our calculation of weighted-average shares for diluted EPS. We excluded antidilutive stock options and performance share units of 2.8 million in the third quarter of 2020 and 2.8 million in the third quarter of 2019 and 3.6 million in the first nine months of 2020 and 4.8 million in the first nine months of 2019.

Segment Reporting

9 Months Ended

Sep. 30, 2020

Segment Reporting [Abstract]

Segment Reporting

Note 16. 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 were:


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2020		2019		2020		2019
	(in millions)
Net revenues:
Latin America	$	610	$	736	$	1,847	$	2,273
AMEA	1,470		1,419		4,209		4,312
Europe	2,526		2,377		7,248		7,175
North America	2,059		1,823		5,979		5,195
Net revenues	$	6,665	$	6,355	$	19,283	$	18,955
Earnings before income taxes:
Operating income:
Latin America	$	77	$	84	$	149	$	250
AMEA	210		188		615		635
Europe	432		331		1,201		1,239
North America	387		370		1,192		1,096
Unrealized gains/(losses) on hedging activities (mark-to-market impacts)	145		20		(42)		69
General corporate expenses	(66)		(76)		(253)		(264)
Amortization of intangibles	(50)		(43)		(143)		(130)
Net gain on divestiture	—		3		—		44
Acquisition-related costs	—		(1)		(15)		(2)
Operating income	1,135		876		2,704		2,937
Benefit plan non-service income	38		13		102		42
Interest and other expense, net	(89)		(205)		(364)		(386)
Earnings before income taxes	$	1,084	$	684	$	2,442	$	2,593

Items impacting our segment operating results are discussed in Note 1, Basis of Presentation, Note 2, Acquisitions and Divestitures, Note 4, Property, Plant and Equipment, Note 5, Goodwill and Intangible Assets, and Note 7, Restructuring Program. Also see Note 8, Debt and Borrowing Arrangements, and Note 9, Financial Instruments, for more information on our interest and other expense, net for each period.

Net revenues by product category were:


	For the Three Months Ended September 30, 2020
	Latin America		AMEA		Europe		North America		Total
	(in millions)
Biscuits	$	172	$	550	$	803	$	1,768	$	3,293
Chocolate	151		533		1,255		61		2,000
Gum & Candy	103		173		153		230		659
Beverages	102		109		23		—		234
Cheese & Grocery	82		105		292		—		479
Total net revenues	$	610	$	1,470	$	2,526	$	2,059	$	6,665

	For the Three Months Ended September 30, 2019
	Latin America		AMEA		Europe		North America		Total
	(in millions)
Biscuits	$	186	$	495	$	752	$	1,514	$	2,947
Chocolate	164		526		1,177		61		1,928
Gum & Candy	212		213		165		248		838
Beverages	93		103		21		—		217
Cheese & Grocery	81		82		262		—		425
Total net revenues	$	736	$	1,419	$	2,377	$	1,823	$	6,355

	For the Nine Months Ended September 30, 2020
	Latin America		AMEA		Europe		North America		Total
	(in millions)
Biscuits	$	500	$	1,516	$	2,243	$	5,170	$	9,429
Chocolate	464		1,437		3,619		156		5,676
Gum & Candy	350		511		461		653		1,975
Beverages	294		437		68		—		799
Cheese & Grocery	239		308		857		—		1,404
Total net revenues	$	1,847	$	4,209	$	7,248	$	5,979	$	19,283

	For the Nine Months Ended September 30, 2019
	Latin America		AMEA		Europe		North America		Total
	(in millions)
Biscuits	$	542	$	1,361	$	2,253	$	4,337	$	8,493
Chocolate	551		1,521		3,543		162		5,777
Gum & Candy	621		662		519		696		2,498
Beverages	324		444		67		—		835
Cheese & Grocery	235		324		793		—		1,352
Total net revenues	$	2,273	$	4,312	$	7,175	$	5,195	$	18,955

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Paragraph 21
-Subparagraph (a)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 280
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 280
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-Section 50
-Paragraph 32
-Subparagraph (e)
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 280
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Paragraph 32
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/topic&trid=2134510

+ Details

Basis of Presentation (Policies)	9 Months Ended
Basis of Presentation (Policies)	Sep. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation	Our interim condensed consolidated financial statements are unaudited. Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been omitted. It is management’s opinion that these financial statements include all normal and recurring adjustments necessary for a fair presentation of our results of operations, financial position and cash flows. Results of operations for any interim period are not necessarily indicative of future or annual results. For a complete set of consolidated financial statements and related notes, refer to our Annual Report on Form 10-K for the year ended December 31, 2019.
Principles of Consolidation	Principles of Consolidation: The condensed consolidated financial statements include Mondelēz International, Inc. as well as our wholly owned and majority owned subsidiaries, except our Venezuelan subsidiaries that 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.
Currency Translation and Highly Inflationary Accounting	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 that 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 Argentinian subsidiaries and changed their functional currency from the Argentinian peso to the U.S. dollar. On July 1, 2018, both monetary and non-monetary assets and liabilities denominated in Argentinian 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 September 30, 2020, our Argentinian operations had $6 million of Argentinian peso denominated net monetary assets. Our Argentinian operations contributed $77 million, or 1.2% of consolidated net revenues in the three months and $252 million, or 1.3% of consolidated net revenues in the nine months ended September 30, 2020. Within selling, general and administrative expenses, we recorded a remeasurement loss of $2 million during the three months and $7 million during the nine months ended September 30, 2020 as well as a remeasurement loss of $1 million during the three months and $2 million during the nine months ended September 30, 2019 related to the revaluation of the Argentinian peso denominated net monetary position over these periods. Brexit. In the nine months ended September 30, 2020, we generated 8.8% of our consolidated 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. Through 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. On December 31, 2020, the United Kingdom will either exit the European Union and begin a new trade relationship with the European Union or will exit without a trade deal. As we approach the planned U.K. exit at the end of 2020, we are taking protective measures in response to the potential impacts on our results of operations and financial condition. 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 are taking 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 Brexit 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, including the impacts related to the global outbreak of the novel coronavirus (“COVID-19”) in 2020. Most countries in which we do business have recently experienced periods of significant economic uncertainty as well as exchange rate volatility. We continue to monitor COVID-19 and other impacts to our business operations, currencies and net monetary exposures in the countries in which we operate. At this time, except for Argentina which is accounted for as a highly inflationary economy, we do not anticipate any other countries in which we operate to be at risk of becoming highly inflationary countries.
Cash, Cash Equivalents and Restricted Cash	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.
Allowances for Credit Losses	Allowances for Credit Losses: The allowances for credit losses are recorded against our receivables. They are developed at a country and region level based on historical collection experiences, current economic condition of specific customers and the forecasted economic condition of countries using various factors such as bond default rates and consumption indexes. We write off receivables once it is determined that the receivables are no longer collectible and as allowed by local laws.
Transfers of Financial Assets	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 non-recourse 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 $778 million as of September 30, 2020 and $760 million as of December 31, 2019. The incremental cost of factoring receivables under this arrangement was not material for all periods presented. The proceeds from the sales of receivables are included in cash from operating activities in the condensed consolidated statements of cash flows.
New Accounting Pronouncements	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 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 standard and reflect the changes to our 2020 annual disclosures. This ASU is not expected to have an impact on our consolidated financial statements.
Reclassifications	Reclassifications:Certain amounts previously reported have been reclassified to conform to current-year presentation. During the second quarter of 2020, in connection with the JDE Peet's (as defined below) transaction (refer to Note 6, Equity Method Investments), we changed our accounting principle to reflect our share of Jacobs Douwe Egberts ("JDE") historical results and JDE Peet's ongoing results on a one-quarter lag basis while we continue to record dividends when cash is received. This change was applied retrospectively to all periods presented.

- Definition

Disclosure of accounting policy for transfers and servicing financial assets, including securitization transactions as well as repurchase and resale agreements. This disclosure may include how the entity (1) determines whether a transaction is accounted for as a sale; (2) accounts for a sale transaction, including the initial and subsequent accounting for any interests that the entity obtains or continues to hold in the transaction, how such interests are valued, and the significant assumptions used in the valuation; (3) accounts for a transaction that does not qualify for sale treatment (that is, a financing); and (4) accounts for its servicing assets and liabilities ("servicing"), including how such servicing is measured initially and subsequently, and the methodology and significant assumptions used to value such servicing.

+ References + Details

Basis of Presentation Basis of Presentation (Tables)

9 Months Ended

Sep. 30, 2020

Accounting Policies [Abstract]

Schedule of Changes in Allowances for Credit Losses

Changes in allowances for credit losses consisted of:


	Allowance for Trade Receivables		Allowance for Other Current Receivables		Allowance for Long-Term Receivables
	(in millions)
Balance at January 1, 2020	$	(35)	$	(44)	$	(14)
Current period provision for expected credit losses	(9)		(1)		(2)
Write-offs charged against the allowance	1		2		—

Currency	2		3		5
Balance at September 30, 2020	$	(41)	$	(40)	$	(11)

Inventories (Tables)

9 Months Ended

Sep. 30, 2020

Inventory Disclosure [Abstract]

Schedule of Components of Inventories

Inventories consisted of the following:


	As of September 30, 2020		As of December 31, 2019
	(in millions)
Raw materials	$	772	$	707
Finished product	2,183		1,953
	2,955		2,660
Inventory reserves	(115)		(114)
Inventories, net	$	2,840	$	2,546

Property, Plant and Equipment (Tables)

9 Months Ended

Sep. 30, 2020

Property, Plant and Equipment [Abstract]

Schedule of Components of Property, Plant and Equipment

Property, plant and equipment consisted of the following:


	As of September 30, 2020		As of December 31, 2019
	(in millions)
Land and land improvements	$	413	$	422
Buildings and building improvements	3,128		3,140
Machinery and equipment	11,419		11,295
Construction in progress	612		680
	15,572		15,537
Accumulated depreciation	(7,039)		(6,804)
Property, plant and equipment, net	$	8,533	$	8,733

Schedule of Restructuring Charges Related to Property, Plant and Equipment


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2020		2019		2020		2019
	(in millions)
Latin America	$	(13)	$	1	$	(13)	$	1
AMEA	—		(5)		4		(7)
Europe	1		42		3		45
North America	(1)		1		1		5
Total	$	(13)	$	39	$	(5)	$	44


	Latin America		AMEA		Europe		North America		Corporate		Total
	(in millions)
For the Three Months Ended September 30, 2020
Restructuring Costs	$	1	$	21	$	40	$	3	$	3	$	68
Implementation Costs	4		6		15		15		6		46
Total	$	5	$	27	$	55	$	18	$	9	$	114
For the Three Months Ended September 30, 2019
Restructuring Costs	$	3	$	(3)	$	73	$	1	$	3	$	77
Implementation Costs	8		9		27		9		22		75
Total	$	11	$	6	$	100	$	10	$	25	$	152
For the Nine Months Ended September 30, 2020
Restructuring Costs	$	19	$	25	$	52	$	3	$	12	$	111
Implementation Costs	12		12		40		36		41		141
Total	$	31	$	37	$	92	$	39	$	53	$	252
For the Nine Months Ended September 30, 2019
Restructuring Costs	$	10	$	6	$	84	$	7	$	10	$	117
Implementation Costs	36		22		55		22		58		193
Total	$	46	$	28	$	139	$	29	$	68	$	310
Total Project (Inception to Date)
Restructuring Costs	$	536	$	560	$	1,128	$	472	$	141	$	2,837
Implementation Costs	281		218		488		420		348		1,755
Total	$	817	$	778	$	1,616	$	892	$	489	$	4,592

Goodwill and Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill by Segment

Goodwill by segment was:


	As of September 30, 2020		As of December 31, 2019
	(in millions)
Latin America	$	654	$	818
AMEA	3,147		3,151
Europe	7,668		7,523
North America	9,866		9,356
Goodwill	$	21,335	$	20,848

Schedule of Intangible Assets Disclosure

Intangible assets consisted of the following:


	As of September 30, 2020		As of December 31, 2019
	(in millions)
Non-amortizable intangible assets	$	17,032	$	17,296
Amortizable intangible assets	2,831		2,374
	19,863		19,670
Accumulated amortization	(1,807)		(1,713)
Intangible assets, net	$	18,056	$	17,957

Schedule of Changes in Goodwill and Intangible Assets

Changes in goodwill and intangible assets consisted of:


	Goodwill		Intangible Assets, at cost
	(in millions)
Balance at January 1, 2020	$	20,848	$	19,670
Currency	(42)		(216)

Acquisition	529		553
Asset impairments	—		(144)
Balance at September 30, 2020	$	21,335	$	19,863

Equity Method Investments (Tables)

9 Months Ended

Sep. 30, 2020

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Impact of Change in Accounting Principle on Consolidated Financial Statements


	For the Three Months Ended September 30, 2019				For the Nine Months Ended September 30, 2019
	As Reported		As Recast		As Reported		As Recast
	(in millions, except per share data)
Statements of Earnings

Equity method investment net earnings	$	111	$	114	$	337	$	389
Net earnings	1,428		1,431		3,156		3,208
Net earnings attributable to Mondelēz International	1,423		1,426		3,144		3,196
Earnings per share attributable to Mondelēz International:
Basic EPS	$	0.98	$	0.99	$	2.17	$	2.21
Diluted EPS	$	0.98	$	0.98	$	2.15	$	2.19

Statements of Other Comprehensive Earnings
Currency translation adjustment	$	(314)	$	(347)	$	(157)	$	(154)
Pension and other benefit plans	86		89		150		144
Derivative cash flow hedges	43		36		(88)		(91)
Total other comprehensive earnings/(losses)	(185)		(222)		(95)		(101)
Comprehensive earnings/(losses) attributable to Mondelēz International	1,247		1,213		3,057		3,103


	As of December 31, 2019
	As Reported		As Recast
	(in millions)
Balance Sheet
Equity method investments	$	7,212	$	7,178
Total assets	64,549		64,515
Retained earnings	26,653		26,615
Accumulated other comprehensive losses	(10,258)		(10,254)
Total Mondelēz International shareholders' equity	27,275		27,241
Total equity	27,351		27,317

Restructuring Program (Tables)

9 Months Ended

Sep. 30, 2020

Restructuring and Related Activities [Abstract]

Schedule of Restructuring Program Liability

The Simplify to Grow Program liability activity for the nine months ended September 30, 2020 was:


	Severance and related costs		Asset Write-downs		Total
	(in millions)
Liability balance, January 1, 2020	$	301	$	—	$	301
Charges	116		(5)		111
Cash spent	(113)		—		(113)
Non-cash settlements/adjustments	(6)		5		(1)
Currency	(2)		—		(2)
Liability balance, September 30, 2020	$	296	$	—	$	296

Schedule of Restructuring and Implementation Costs by Segment


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2020		2019		2020		2019
	(in millions)
Latin America	$	(13)	$	1	$	(13)	$	1
AMEA	—		(5)		4		(7)
Europe	1		42		3		45
North America	(1)		1		1		5
Total	$	(13)	$	39	$	(5)	$	44


	Latin America		AMEA		Europe		North America		Corporate		Total
	(in millions)
For the Three Months Ended September 30, 2020
Restructuring Costs	$	1	$	21	$	40	$	3	$	3	$	68
Implementation Costs	4		6		15		15		6		46
Total	$	5	$	27	$	55	$	18	$	9	$	114
For the Three Months Ended September 30, 2019
Restructuring Costs	$	3	$	(3)	$	73	$	1	$	3	$	77
Implementation Costs	8		9		27		9		22		75
Total	$	11	$	6	$	100	$	10	$	25	$	152
For the Nine Months Ended September 30, 2020
Restructuring Costs	$	19	$	25	$	52	$	3	$	12	$	111
Implementation Costs	12		12		40		36		41		141
Total	$	31	$	37	$	92	$	39	$	53	$	252
For the Nine Months Ended September 30, 2019
Restructuring Costs	$	10	$	6	$	84	$	7	$	10	$	117
Implementation Costs	36		22		55		22		58		193
Total	$	46	$	28	$	139	$	29	$	68	$	310
Total Project (Inception to Date)
Restructuring Costs	$	536	$	560	$	1,128	$	472	$	141	$	2,837
Implementation Costs	281		218		488		420		348		1,755
Total	$	817	$	778	$	1,616	$	892	$	489	$	4,592

Debt and Borrowing Arrangements (Tables)

9 Months Ended

Sep. 30, 2020

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 September 30, 2020				As of December 31, 2019
	Amount Outstanding		Weighted- Average Rate		Amount Outstanding		Weighted- Average Rate
	(in millions, except percentages)
Commercial paper	$	139	0.4	%	$	2,581	2.0	%
Bank loans	60		4.9	%	57		5.2	%
Total short-term borrowings	$	199			$	2,638

Schedule of Interest and Other Expense

Interest and other expense, net consisted of:


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2020		2019		2020		2019
	(in millions)
Interest expense, debt	$	104	$	121	$	322	$	371
Loss related to interest rate swaps	—		111		103		111
Other (income)/expense, net	(15)		(27)		(61)		(96)
Interest and other expense, net	$	89	$	205	$	364	$	386

Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2020

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Schedule of Pre-tax Effects of Derivative Instruments

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


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,				Location of Gain/(Loss) Recognized in Earnings
	2020		2019		2020		2019
	(in millions)
Currency exchange contracts:
Intercompany loans and forecasted interest payments	$	7	$	60	$	(73)	$	71	Interest and other expense, net
Forecasted transactions	28		50		50		30		Cost of sales
Forecasted transactions	6		(1)		(3)		(2)		Interest and other expense, net
Forecasted transactions	(1)		(1)		(2)		(6)		Selling, general and administrative expenses
Commodity contracts	136		(38)		(47)		28		Cost of sales
Total	$	176	$	70	$	(75)	$	121

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 Three Months Ended September 30,				For the Nine Months Ended September 30,
	2020		2019		2020		2019
	(in millions)
Accumulated (loss)/gain at beginning of period	$	(154)	$	(295)	$	(213)	$	(168)
Transfer of realized losses/(gains) in fair value to earnings	65		111		153		123
Unrealized (loss)/gain in fair value	(69)		(75)		(98)		(214)
Accumulated (loss)/gain at end of period	$	(158)	$	(259)	$	(158)	$	(259)

Net investment hedges

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Schedule of Hedges of Net Investments in International Operations

The impacts of the net investment hedge derivative contracts on other comprehensive earnings and net earnings were as follows:


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2020		2019		2020		2019
	(in millions)
After-tax gain/(loss) on NIH contracts(1)	$	(223)	$	193	$	(6)	$	260


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2020		2019		2020		2019
	(in millions)
Amounts excluded from the assessment of hedge effectiveness(1)	$	28	$	34	$	92	$	101

(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.


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2020		2019		2020		2019
	(in millions)
Euro notes	$	(122)	$	111	$	(135)	$	133
British pound sterling notes	(10)		8		7		9
Swiss franc notes	(27)		24		(47)		16
Canadian notes	(6)		4		9		(10)

Derivative

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Schedule of Fair Value of Derivatives Instruments

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


	As of September 30, 2020				As of December 31, 2019
	Asset Derivatives		Liability Derivatives		Asset Derivatives		Liability Derivatives
	(in millions)
Derivatives designated as accounting hedges:
Interest rate contracts	$	13	$	176	$	19	$	190
Net investment hedge derivative contracts (1)	275		74		312		65
	$	288	$	250	$	331	$	255
Derivatives not designated as accounting hedges:
Currency exchange contracts	$	88	$	74	$	67	$	50
Commodity contracts	170		162		201		120
	$	258	$	236	$	268	$	170
Total fair value	$	546	$	486	$	599	$	425

Schedule of Derivative Instruments Fair Value and Measurement Inputs

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


	As of September 30, 2020
	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	$	14	$	—	$	14	$	—
Commodity contracts	8		18		(10)		—
Interest rate contracts	(163)		—		(163)		—
Net investment hedge contracts	201		—		201		—
Total derivatives	$	60	$	18	$	42	$	—


	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	$	—

Schedule of Notional Values of Derivative Instruments

The notional values of our hedging instruments were:


	Notional Amount
	As of September 30, 2020		As of December 31, 2019
	(in millions)
Currency exchange contracts:
Intercompany loans and forecasted interest payments	$	2,206	$	2,474
Forecasted transactions	4,117		3,993
Commodity contracts	8,136		7,238
Interest rate contracts	3,500		5,250
Net investment hedges:
Net investment hedge derivative contracts	6,168		6,864
Non-U.S. dollar debt designated as net investment hedges
Euro notes	3,592		3,436
British pound sterling notes	340		349
Swiss franc notes	1,276		1,448
Canadian dollar notes	450		462

Benefit Plans (Tables)

9 Months Ended

Sep. 30, 2020

Pension Plans

Defined Benefit Plan Disclosure [Line Items]

Schedule of Components of Net Costs

Net periodic pension cost consisted of the following:


	U.S. Plans				Non-U.S. Plans
	For the Three Months Ended September 30,				For the Three Months Ended September 30,
	2020		2019		2020		2019
	(in millions)
Service cost	$	1	$	10	$	30	$	30
Interest cost	12		15		37		49
Expected return on plan assets	(19)		(22)		(100)		(99)
Amortization:
Net loss from experience differences	5		9		29		36
Prior service cost/(benefit)	1		—		(2)		(2)
Settlement losses and other expenses (1)	3		5		—		—
Net periodic pension cost	$	3	$	17	$	(6)	$	14

	U.S. Plans				Non-U.S. Plans
	For the Nine Months Ended September 30,				For the Nine Months Ended September 30,
	2020		2019		2020		2019
	(in millions)
Service cost	$	4	$	28	$	89	$	91
Interest cost	38		46		110		151
Expected return on plan assets	(58)		(66)		(295)		(303)
Amortization:
Net loss from experience differences	13		19		86		111
Prior service cost/(credit)	1		1		(5)		(5)
Settlement losses and other expenses (1)	15		13		2		3
Net periodic pension cost	$	13	$	41	$	(13)	$	48

Postretirement Benefit Plans

Defined Benefit Plan Disclosure [Line Items]

Schedule of Components of Net Costs

Net periodic postretirement health care benefit consisted of the following:


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2020		2019		2020		2019
	(in millions)
Service cost	$	1	$	1	$	4	$	4
Interest cost	3		4		9		11
Amortization:
Net loss from experience differences	1		2		5		5
Prior service credit	(8)		(10)		(23)		(29)
Net periodic postretirement health care benefit	$	(3)	$	(3)	$	(5)	$	(9)

Postemployment Benefit Plans

Defined Benefit Plan Disclosure [Line Items]

Schedule of Components of Net Costs

Net periodic postemployment cost consisted of the following:


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2020		2019		2020		2019
	(in millions)
Service cost	$	1	$	1	$	4	$	4
Interest cost	1		1		3		3
Amortization of net gains	(1)		(1)		(3)		(2)
Net periodic postemployment cost	$	1	$	1	$	4	$	5

Stock Plans (Tables)

9 Months Ended

Sep. 30, 2020

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

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, 2020	33,855,948	$36.19	5 years	$	640	million
Annual grant to eligible employees	2,280,440	59.04
Additional options issued	131,970	49.23
Total options granted	2,412,410	58.50
Options exercised (1)	(6,737,525)	30.71		$	173	million
Options canceled	(558,246)	44.10
Balance at September 30, 2020	28,972,587	39.16	5 years	$	533	million

Performance Share Units and Other Stock-Based Awards

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

Schedule of Performance Share Units and Stock-Based Awards Activity

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


	Number of Shares	Grant Date	Weighted-Average Fair Value Per Share (3)	Weighted-Average Aggregate Fair Value (3)
Balance at January 1, 2020	5,661,945		$46.90
Annual grant to eligible employees:		Feb. 20, 2020
Performance share units	825,230		65.83
Deferred stock units	545,550		59.04
Additional shares granted (1)	371,761	Various	56.82
Total shares granted	1,742,541		61.78	$	108	million
Vested (2)	(1,718,365)		43.04	$	74	million
Forfeited	(422,229)		47.33
Balance at September 30, 2020	5,263,892		53.05

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

Reclassifications from Accumulated Other Comprehensive Income (Tables)

9 Months Ended

Sep. 30, 2020

Equity [Abstract]

Schedule of Amounts Reclassified from Accumulated Other Comprehensive Earnings/(Losses)


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2020		2019		2020		2019
	(in millions)
Currency Translation Adjustments:
Balance at beginning of period	$	(9,609)	$	(8,430)	$	(8,320)	$	(8,622)
Currency translation adjustments	184		(316)		(1,071)		(144)
Reclassification to earnings related to:
Equity method investment transactions (1)	—		—		29		—
Tax (expense)/benefit	29		(31)		(35)		(10)
Other comprehensive earnings/(losses)	213		(347)		(1,077)		(154)
Less: other comprehensive (earnings)/loss attributable to noncontrolling interests	(8)		9		(7)		8
Balance at end of period	(9,404)		(8,768)		(9,404)		(8,768)
Pension and Other Benefit Plans:
Balance at beginning of period	$	(1,656)	$	(1,799)	$	(1,721)	$	(1,854)
Net actuarial gain/(loss) arising during period	2		4		(22)		(28)
Tax (expense)/benefit on net actuarial gain/(loss)	—		(1)		(1)		6
Losses/(gains) reclassified into net earnings:
Amortization of experience losses and prior service costs (2)	25		34		74		100
Settlement losses and other expenses (1)	3		5		18		33
Tax expense/(benefit) on reclassifications (3)	(7)		(7)		(22)		(25)
Currency impact	(60)		54		(19)		58
Other comprehensive earnings/(losses)	(37)		89		28		144
Balance at end of period	(1,693)		(1,710)		(1,693)		(1,710)
Derivative Cash Flow Hedges:
Balance at beginning of period	$	(154)	$	(295)	$	(213)	$	(168)
Net derivative gains/(losses)	(67)		(74)		(123)		(232)
Tax (expense)/benefit on net derivative gain/(loss)	1		10		27		28
Losses/(gains) reclassified into net earnings:
Interest rate contracts (1) (4)	66		111		179		123
Tax expense/(benefit) on reclassifications (3)	(1)		—		(26)		—
Currency impact	(3)		(11)		(2)		(10)
Other comprehensive earnings/(losses)	(4)		36		55		(91)
Balance at end of period	(158)		(259)		(158)		(259)
Accumulated other comprehensive income attributable to Mondelēz International:
Balance at beginning of period	$	(11,419)	$	(10,524)	$	(10,254)	$	(10,644)
Total other comprehensive earnings/(losses)	172		(222)		(994)		(101)
Less: other comprehensive (earnings)/loss attributable to noncontrolling interests	(8)		9		(7)		8
Other comprehensive earnings/(losses) attributable to Mondelēz International	164		(213)		(1,001)		(93)
Balance at end of period	$	(11,255)	$	(10,737)	$	(11,255)	$	(10,737)

(1)These amounts include equity method investment transactions recorded within gain/(loss) on equity method investment transactions.

(2)These reclassified losses are included in net periodic benefit costs disclosed in Note 10, Benefit Plans.

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

(4)These reclassified gains or losses are recorded within interest and other expense, net..

Earnings per Share (Tables)

9 Months Ended

Sep. 30, 2020

Earnings Per Share [Abstract]

Schedule of Calculation of Basic and Diluted Earnings Per Share

Basic and diluted earnings per share (“EPS”) were calculated as follows:


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2020		2019		2020		2019
	(in millions, except per share data)
Net earnings	$	1,122	$	1,431	$	2,410	$	3,208
Noncontrolling interest earnings	(3)		(5)		(11)		(12)
Net earnings attributable to Mondelēz International	$	1,119	$	1,426	$	2,399	$	3,196
Weighted-average shares for basic EPS	1,432		1,445		1,432		1,446
Plus incremental shares from assumed conversions of stock options and long-term incentive plan shares	10		13		10		13
Weighted-average shares for diluted EPS	1,442		1,458		1,442		1,459
Basic earnings per share attributable to Mondelēz International	$	0.78	$	0.99	$	1.68	$	2.21
Diluted earnings per share attributable to Mondelēz International	$	0.78	$	0.98	$	1.66	$	2.19

Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2020

Segment Reporting [Abstract]

Schedule of Segment Net Revenues and Earnings

Our segment net revenues and earnings were:


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2020		2019		2020		2019
	(in millions)
Net revenues:
Latin America	$	610	$	736	$	1,847	$	2,273
AMEA	1,470		1,419		4,209		4,312
Europe	2,526		2,377		7,248		7,175
North America	2,059		1,823		5,979		5,195
Net revenues	$	6,665	$	6,355	$	19,283	$	18,955
Earnings before income taxes:
Operating income:
Latin America	$	77	$	84	$	149	$	250
AMEA	210		188		615		635
Europe	432		331		1,201		1,239
North America	387		370		1,192		1,096
Unrealized gains/(losses) on hedging activities (mark-to-market impacts)	145		20		(42)		69
General corporate expenses	(66)		(76)		(253)		(264)
Amortization of intangibles	(50)		(43)		(143)		(130)
Net gain on divestiture	—		3		—		44
Acquisition-related costs	—		(1)		(15)		(2)
Operating income	1,135		876		2,704		2,937
Benefit plan non-service income	38		13		102		42
Interest and other expense, net	(89)		(205)		(364)		(386)
Earnings before income taxes	$	1,084	$	684	$	2,442	$	2,593

Schedule of Net Revenues by Product Category

Net revenues by product category were:


	For the Three Months Ended September 30, 2020
	Latin America		AMEA		Europe		North America		Total
	(in millions)
Biscuits	$	172	$	550	$	803	$	1,768	$	3,293
Chocolate	151		533		1,255		61		2,000
Gum & Candy	103		173		153		230		659
Beverages	102		109		23		—		234
Cheese & Grocery	82		105		292		—		479
Total net revenues	$	610	$	1,470	$	2,526	$	2,059	$	6,665

	For the Three Months Ended September 30, 2019
	Latin America		AMEA		Europe		North America		Total
	(in millions)
Biscuits	$	186	$	495	$	752	$	1,514	$	2,947
Chocolate	164		526		1,177		61		1,928
Gum & Candy	212		213		165		248		838
Beverages	93		103		21		—		217
Cheese & Grocery	81		82		262		—		425
Total net revenues	$	736	$	1,419	$	2,377	$	1,823	$	6,355

	For the Nine Months Ended September 30, 2020
	Latin America		AMEA		Europe		North America		Total
	(in millions)
Biscuits	$	500	$	1,516	$	2,243	$	5,170	$	9,429
Chocolate	464		1,437		3,619		156		5,676
Gum & Candy	350		511		461		653		1,975
Beverages	294		437		68		—		799
Cheese & Grocery	239		308		857		—		1,404
Total net revenues	$	1,847	$	4,209	$	7,248	$	5,979	$	19,283

	For the Nine Months Ended September 30, 2019
	Latin America		AMEA		Europe		North America		Total
	(in millions)
Biscuits	$	542	$	1,361	$	2,253	$	4,337	$	8,493
Chocolate	551		1,521		3,543		162		5,777
Gum & Candy	621		662		519		696		2,498
Beverages	324		444		67		—		835
Cheese & Grocery	235		324		793		—		1,352
Total net revenues	$	2,273	$	4,312	$	7,175	$	5,195	$	18,955

Basis of Presentation - Additional Information (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020 USD ($) country	Sep. 30, 2019 USD ($)	Sep. 30, 2020 USD ($) country	Sep. 30, 2019 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Summary of Significant Accounting Policies [Line Items]
Net revenues	$ 6,665	$ 6,355	$ 19,283	$ 18,955
Number of countries in which products are sold (more than) \| country	150		150
Number of countries in which entity operates (more than) \| country	80		80
Restricted cash	$ 31		$ 31		$ 37
Cash, cash equivalents and restricted cash	2,790	1,537	2,790	1,537	1,328	$ 1,100
Outstanding principal amount of receivables sold under factoring arrangement	778		778		$ 760
Operating lease right-of-use assets obtained in exchange for lease obligations			187	91
Finance lease right-of-use assets in exchange for lease obligations			129	48
Argentina
Summary of Significant Accounting Policies [Line Items]
Net monetary assets	6		6
Net revenues	$ 77		$ 252
Percentage of consolidated net revenues	1.20%		1.30%
Argentina \| Selling, general and administrative expenses
Summary of Significant Accounting Policies [Line Items]
Remeasurement loss due to inflationary accounting	$ 2	$ 1	$ 7	$ 2
U.K. \| Geographic Concentration Risk \| Net Revenues
Summary of Significant Accounting Policies [Line Items]
Concentration risk percentage			8.80%

Basis of Presentation - Changes in Allowances for Credit Losses (Details) $ in Millions	9 Months Ended
	Sep. 30, 2020 USD ($)
Allowance for Trade Receivables
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at January 1, 2020	$ (35)
Current period provision for expected credit losses	(9)
Write-offs charged against the allowance	1
Currency	2
Balance at September 30, 2020	(41)
Allowance for Other Current Receivables
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at January 1, 2020	(44)
Current period provision for expected credit losses	(1)
Write-offs charged against the allowance	2
Currency	3
Balance at September 30, 2020	(40)
Allowance for Long-Term Receivables
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at January 1, 2020	(14)
Current period provision for expected credit losses	(2)
Write-offs charged against the allowance	0
Currency	5
Balance at September 30, 2020	$ (11)

Acquisitions and Divestitures (Details) - USD ($) $ in Millions			3 Months Ended		9 Months Ended		12 Months Ended
	Apr. 01, 2020	Jul. 16, 2019	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Jul. 16, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Purchase consideration, net of cash received					$ 1,142	$ 284
Goodwill			$ 21,335		21,335			$ 20,848
Acquisition-related costs			0	$ 1	15	2
North America
Business Acquisition [Line Items]
Goodwill			9,866		9,866			9,356
AMEA
Business Acquisition [Line Items]
Goodwill			3,147		3,147			3,151
AMEA \| Cheese Business \| Disposal Group, Disposed of by Sale, Not Discontinued Operations
Business Acquisition [Line Items]
Proceeds from divestiture of businesses								161
Current assets divested								19
Non-current assets divested								96
Pre-tax gain on divestiture								$ 44
Decline in year-over-year net revenues due to business divestiture					55
Decline in year-over-year net operating income due to business divestiture					9
Divestiture-related costs			6	$ 4	4	$ 6
Reversal of divestiture-related costs accruals no longer required					2
Give & Go
Business Acquisition [Line Items]
Purchase consideration, net of cash received	$ 1,142
Definite-lived intangible assets	511
Indefinite-lived intangible assets	42
Goodwill	529
Property, plant and equipment	137
Operating right of use assets	59
Inventory	38
Accounts receivables	29
Other current assets	5
Current liabilities	41
Deferred tax liabilities	83
Long-term operating lease liabilities	56
Long-term debt	6
Long-term other liabilities	$ 19
Incremental net revenues from acquisition			125		216
Incremental operating income from acquisition			$ 14		6
Acquisition-related costs					$ 15
Perfect Snacks \| North America
Business Acquisition [Line Items]
Purchase consideration, net of cash received		$ 284
Definite-lived intangible assets		31
Indefinite-lived intangible assets		107
Goodwill		150
Property, plant and equipment		1
Inventory		12
Accounts receivables		8
Current liabilities		13
Deferred tax liabilities		3
Long-term other liabilities		$ 9
Incremental net revenues from acquisition							$ 55

Inventories (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Raw materials	$ 772	$ 707
Finished product	2,183	1,953
Inventories, gross	2,955	2,660
Inventory reserves	(115)	(114)
Inventories, net	$ 2,840	$ 2,546

Property, Plant and Equipment (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 15,572	$ 15,537
Accumulated depreciation	(7,039)	(6,804)
Property, plant and equipment, net	8,533	8,733
Land and land improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	413	422
Buildings and building improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	3,128	3,140
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	11,419	11,295
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 612	$ 680

Property, Plant and Equipment - Additional Information (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Property, Plant and Equipment [Abstract]
Capital expenditures	$ 630	$ 686
Accrued capital expenditures unpaid	203	203
Payments for capital expenditures accrued in the prior year	$ 334	$ 331

Property, Plant and Equipment - Asset Impairment and Exit Costs (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Total			$ 141	$ 103
Simplify to Grow Program
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Total	$ (13)	$ 39	(5)	44
Simplify to Grow Program \| Latin America
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Total	(13)	1	(13)	1
Simplify to Grow Program \| AMEA
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Total	0	(5)	4	(7)
Simplify to Grow Program \| Europe
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Total	1	42	3	45
Simplify to Grow Program \| North America
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Total	$ (1)	$ 1	$ 1	$ 5

Goodwill and Intangible Assets - Goodwill by Segment (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Goodwill	$ 21,335	$ 20,848
Latin America
Segment Reporting Information [Line Items]
Goodwill	654	818
AMEA
Segment Reporting Information [Line Items]
Goodwill	3,147	3,151
Europe
Segment Reporting Information [Line Items]
Goodwill	7,668	7,523
North America
Segment Reporting Information [Line Items]
Goodwill	$ 9,866	$ 9,356

Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Non-amortizable intangible assets	$ 17,032	$ 17,296
Amortizable intangible assets	2,831	2,374
Total intangible assets, gross	19,863	19,670
Accumulated amortization	(1,807)	(1,713)
Intangible assets, net	$ 18,056	$ 17,957

Goodwill and Intangible Assets - Additional Information (Details)		3 Months Ended			9 Months Ended
	Jul. 01, 2020 USD ($)	Sep. 30, 2020 USD ($) brand	Jun. 30, 2020 USD ($)	Sep. 30, 2019 USD ($)	Sep. 30, 2020 USD ($) brand	Sep. 30, 2019 USD ($)	Apr. 01, 2020 USD ($)	Dec. 31, 2019 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense for intangible assets		$ 50,000,000		$ 43,000,000	$ 143,000,000	$ 130,000,000
Estimated amortization expense of intangibles in 2020		190,000,000			190,000,000
Estimated amortization expense of intangibles in 2021		120,000,000			120,000,000
Estimated amortization expense of intangibles in 2022		115,000,000			115,000,000
Estimated amortization expense of intangibles in 2023		115,000,000			115,000,000
Estimated amortization expense of intangibles in 2024		115,000,000			115,000,000
Goodwill and Intangible Assets Disclosure [Line Items]
Goodwill		$ 21,335,000,000			21,335,000,000			$ 20,848,000,000
Impairment of intangible assets					144,000,000
Goodwill impairment	$ 0				$ 0
Europe
Goodwill and Intangible Assets Disclosure [Line Items]
Weighted-average cost of capital rate	6.10%
North America
Goodwill and Intangible Assets Disclosure [Line Items]
Weighted-average cost of capital rate	6.10%
Latin America
Goodwill and Intangible Assets Disclosure [Line Items]
Risk-rated discount rate	9.10%
AMEA
Goodwill and Intangible Assets Disclosure [Line Items]
Risk-rated discount rate	9.10%
Brands
Goodwill and Intangible Assets Disclosure [Line Items]
Number of brands with fair value in excess of book value of 10% or less \| brand		9			9
Book value of brands with fair value in excess of book value of 10% or less		$ 712,000,000			$ 712,000,000
Brands \| Gum and Chocolate
Goodwill and Intangible Assets Disclosure [Line Items]
Impairment of intangible assets		$ 54,000,000
Number of impaired brands \| brand		3			3
Brands \| Gum and Chocolate \| Europe
Goodwill and Intangible Assets Disclosure [Line Items]
Impairment of intangible assets		$ 3,000,000
Brands \| Gum and Chocolate \| North America
Goodwill and Intangible Assets Disclosure [Line Items]
Impairment of intangible assets		47,000,000
Brands \| Gum and Chocolate \| Latin America
Goodwill and Intangible Assets Disclosure [Line Items]
Impairment of intangible assets		$ 3,000,000
COVID-19
Goodwill and Intangible Assets Disclosure [Line Items]
Impairment of intangible assets			$ 90,000,000		$ 144,000,000
COVID-19 \| Brands
Goodwill and Intangible Assets Disclosure [Line Items]
Number of impaired brands \| brand		8			8
Give & Go
Goodwill and Intangible Assets Disclosure [Line Items]
Goodwill							$ 529,000,000
Intangible assets acquired							$ 553,000,000

Goodwill and Intangible Assets - Changes in Goodwill and Intangible Assets (Details) - USD ($)		9 Months Ended
	Jul. 01, 2020	Sep. 30, 2020
Goodwill
Balance at January 1, 2020		$ 20,848,000,000
Currency		(42,000,000)
Acquisition		529,000,000
Asset impairments	$ 0	0
Balance at September 30, 2020		21,335,000,000
Intangible Assets, at cost
Balance at January 1, 2020		19,670,000,000
Currency		(216,000,000)
Acquisition		553,000,000
Asset impairments		(144,000,000)
Balance at September 30, 2020		$ 19,863,000,000

Equity Method Investments - Additional Information (Details) € / shares in Units, € in Millions, $ in Millions									3 Months Ended						9 Months Ended		12 Months Ended
	Sep. 09, 2020 USD ($) shares	Aug. 03, 2020 USD ($) shares	Jun. 02, 2020 USD ($) shares	Jun. 02, 2020 EUR (€) shares	Jun. 01, 2020 USD ($) shares	Jun. 01, 2020 EUR (€) shares	May 29, 2020 € / shares shares	Mar. 04, 2020 USD ($) shares	Sep. 30, 2020 USD ($) director	Jun. 30, 2020 USD ($)	Sep. 30, 2019 USD ($)	Jun. 30, 2019 USD ($)	Mar. 31, 2019 USD ($)	Mar. 31, 2016 USD ($)	Sep. 30, 2020 USD ($) director	Sep. 30, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2019 USD ($)	Jul. 09, 2018	Mar. 08, 2016	Mar. 07, 2016
Schedule of Equity Method Investments [Line Items]
Equity method investments									$ 6,488						$ 6,488			$ 7,178
Equity method investment net earnings									84		$ 114				311	$ 389
Cash dividends received from equity method investments									27		29				220	217
Pre-tax gain (loss) on equity method investment transaction									$ 345		$ 0				$ 537	$ (2)
JDEP
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage			22.90%	22.90%					22.90%						22.90%
Number of shares of equity method investment sold (in shares) \| shares					9,700,000	9,700,000	82,100,000
Stock sale price (in dollars per share) \| € / shares							€ 31.50
Percentage of equity method investment ownership after the settlement					26.50%	26.50%
Gross proceeds from equity method investment transaction					$ 343	€ 304
JDEP \| Over-allotment option
Schedule of Equity Method Investments [Line Items]
Pre-tax gain (loss) on equity method investment transaction									$ 10	$ 121					$ 131
Number of shares of equity method investment sold (in shares) \| shares			1,400,000	1,400,000
Gross proceeds from equity method investment transaction			$ 51	€ 46
Losses/(gains) reclassified into net earnings										33
Transaction costs										$ 48
KDP
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	11.20%	12.10%						13.10%	11.20%				13.60%		11.20%		13.80%
Pre-tax gain on sale of equity method investment	$ 154	$ 181						$ 71					$ 23
After-tax gain on sale of equity method investment	$ 119	$ 139						$ 54					$ 18
Number of shares of equity method investment sold (in shares) \| shares	12,500,000	14,100,000						6,800,000
Decrease in equity method investment ownership percentage	0.90%	1.00%						0.50%
Proceeds from sale of equity method investment	$ 363	$ 414						$ 185
Number of director positions \| director									2						2
Dong Suh Foods Corporation
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage									50.00%						50.00%
Dong Suh Oil & Fats Co. Ltd.
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage									49.00%						49.00%
JDEP and KDP
Schedule of Equity Method Investments [Line Items]
Fair value of ownership of equity method investment									$ 9,000						$ 9,000
JDE
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage																				26.50%	43.50%
Percentage of equity method investment exchanged					26.40%	26.40%
Keurig
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage																				24.20%
Fair value of ownership of equity method investment														$ 2,000
Pre-tax gain (loss) on equity method investment transaction												$ 29		$ 43
Keurig \| Keurig with Dr Pepper Snapple Group, Inc.
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage																			24.20%
Pre-tax gain (loss) on equity method investment transaction																	$ 778
After-tax gain on equity method investment transaction																	$ 586

Equity Method Investments - Impact of Change in Accounting Principle on Consolidated Financial Statements (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019	Dec. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Change in Accounting Principle, Type [Extensible List]				mdlz:ChangeInAccountingMethodAccountedOfEarningsInEquityMethodInvestmentsMember
Statements of Earnings
Equity method investment net earnings	$ 84	$ 114	$ 311	$ 389
Net earnings	1,122	1,431	2,410	3,208
Net earnings attributable to Mondelēz International	$ 1,119	$ 1,426	$ 2,399	$ 3,196
Earnings per share attributable to Mondelēz International:
Basic EPS (in dollars per share)	$ 0.78	$ 0.99	$ 1.68	$ 2.21
Diluted EPS (in dollars per share)	$ 0.78	$ 0.98	$ 1.66	$ 2.19
Statements of Other Comprehensive Earnings
Currency translation adjustment	$ 213	$ (347)	$ (1,077)	$ (154)
Pension and other benefit plans	(37)	89	28	144
Derivative cash flow hedges	(4)	36	55	(91)
Total other comprehensive earnings/(losses)	172	(222)	(994)	(101)
Comprehensive earnings/(losses) attributable to Mondelēz International	1,283	1,213	1,398	3,103
Balance Sheet
Equity method investments	6,488		6,488			$ 7,178
Total assets	66,249		66,249			64,515
Retained earnings	27,702		27,702			26,615
Accumulated other comprehensive losses	(11,255)		(11,255)			(10,254)
Total Mondelēz International shareholders' equity	26,943		26,943			27,241
Total equity	$ 27,028	26,809	$ 27,028	26,809	$ 26,097	27,317	$ 26,143	$ 25,602
As Reported
Statements of Earnings
Equity method investment net earnings		111		337
Net earnings		1,428		3,156
Net earnings attributable to Mondelēz International		$ 1,423		$ 3,144
Earnings per share attributable to Mondelēz International:
Basic EPS (in dollars per share)		$ 0.98		$ 2.17
Diluted EPS (in dollars per share)		$ 0.98		$ 2.15
Statements of Other Comprehensive Earnings
Currency translation adjustment		$ (314)		$ (157)
Pension and other benefit plans		86		150
Derivative cash flow hedges		43		(88)
Total other comprehensive earnings/(losses)		(185)		(95)
Comprehensive earnings/(losses) attributable to Mondelēz International		$ 1,247		$ 3,057
Balance Sheet
Equity method investments						7,212
Total assets						64,549
Retained earnings						26,653
Accumulated other comprehensive losses						(10,258)
Total Mondelēz International shareholders' equity						27,275
Total equity						$ 27,351

Restructuring Program - Additional Information (Details) - USD ($) $ in Millions				3 Months Ended		9 Months Ended		77 Months Ended
	Sep. 06, 2018	Aug. 31, 2016	May 06, 2014	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Dec. 31, 2019
2014-2018 Restructuring Program
Restructuring Cost and Reserve [Line Items]
Approved restructuring program cost		$ 5,700	$ 3,500
Reallocation of previously approved capital expenditures to be spent on restructuring program cash costs		600
2014-2018 Restructuring Program \| Maximum
Restructuring Cost and Reserve [Line Items]
Approved capital expenditures		1,600	$ 2,200
2014-2018 Restructuring Program \| Restructuring Program Charges
Restructuring Cost and Reserve [Line Items]
Approved restructuring program cost		4,100
2014-2018 Restructuring Program \| Cash Costs
Restructuring Cost and Reserve [Line Items]
Approved restructuring program cost		3,100
2014-2018 Restructuring Program \| Non-cash Costs
Restructuring Cost and Reserve [Line Items]
Approved restructuring program cost		$ 1,000
Simplify to Grow Program
Restructuring Cost and Reserve [Line Items]
Approved restructuring program cost	$ 7,700
Restructuring and implementation charges				$ 114	$ 152	$ 252	$ 310	$ 4,592
Restructuring charges				68	77	111	117	2,837
Cash spent in restructuring						113
Non-cash asset write-downs				13	41	1	76
Restructuring reserve				296		296		296	$ 301
Implementation costs				46	75	141	193	1,755
Simplify to Grow Program \| Maximum
Restructuring Cost and Reserve [Line Items]
Approved capital expenditures	2,300
Increase in approved restructuring program costs	1,300
Increase in approved capital expenditures	700
Simplify to Grow Program \| Other current liabilities
Restructuring Cost and Reserve [Line Items]
Restructuring reserve				258		258		258
Simplify to Grow Program \| Other liabilities
Restructuring Cost and Reserve [Line Items]
Restructuring reserve				38		38		38
Simplify to Grow Program \| Restructuring Program Charges
Restructuring Cost and Reserve [Line Items]
Approved restructuring program cost	5,400
Simplify to Grow Program \| Cash Costs
Restructuring Cost and Reserve [Line Items]
Approved restructuring program cost	4,100
Simplify to Grow Program \| Non-cash Costs
Restructuring Cost and Reserve [Line Items]
Approved restructuring program cost	$ 1,300
Simplify to Grow Program \| Severance and Related Costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges						116
Cash spent in restructuring				44	$ 35	113	$ 124
Non-cash asset write-downs						6
Restructuring reserve				$ 296		$ 296		$ 296	$ 301

Restructuring Program - Restructuring Liability Activity (Details) - Simplify to Grow Program - USD ($) $ in Millions	3 Months Ended		9 Months Ended		77 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020
Restructuring Reserve [Roll Forward]
Liability balance, January 1, 2020			$ 301
Charges	$ 68	$ 77	111	$ 117	$ 2,837
Cash spent			(113)
Non-cash settlements	(13)	(41)	(1)	(76)
Currency			(2)
Liability balance, September 30, 2020	296		296		296
Severance and related costs
Restructuring Reserve [Roll Forward]
Liability balance, January 1, 2020			301
Charges			116
Cash spent	(44)	$ (35)	(113)	$ (124)
Non-cash settlements			(6)
Currency			(2)
Liability balance, September 30, 2020	296		296		296
Asset Write-downs
Restructuring Reserve [Roll Forward]
Liability balance, January 1, 2020			0
Charges			(5)
Cash spent			0
Adjustments			5
Currency			0
Liability balance, September 30, 2020	$ 0		$ 0		$ 0

Restructuring Program - Restructuring and Implementation Costs by Segments (Details) - Simplify to Grow Program - USD ($) $ in Millions	3 Months Ended		9 Months Ended		77 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring Costs	$ 68	$ 77	$ 111	$ 117	$ 2,837
Implementation Costs	46	75	141	193	1,755
Total	114	152	252	310	4,592
Operating Segments \| Latin America
Restructuring Cost and Reserve [Line Items]
Restructuring Costs	1	3	19	10	536
Implementation Costs	4	8	12	36	281
Total	5	11	31	46	817
Operating Segments \| AMEA
Restructuring Cost and Reserve [Line Items]
Restructuring Costs	21	(3)	25	6	560
Implementation Costs	6	9	12	22	218
Total	27	6	37	28	778
Operating Segments \| Europe
Restructuring Cost and Reserve [Line Items]
Restructuring Costs	40	73	52	84	1,128
Implementation Costs	15	27	40	55	488
Total	55	100	92	139	1,616
Operating Segments \| North America
Restructuring Cost and Reserve [Line Items]
Restructuring Costs	3	1	3	7	472
Implementation Costs	15	9	36	22	420
Total	18	10	39	29	892
Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring Costs	3	3	12	10	141
Implementation Costs	6	22	41	58	348
Total	$ 9	$ 25	$ 53	$ 68	$ 489

Debt and Borrowing Arrangements - Short-Term Borrowings and Related Weighted-Average Interest Rates (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Short-term Debt [Line Items]
Amount Outstanding	$ 199	$ 2,638
Commercial paper
Short-term Debt [Line Items]
Amount Outstanding	$ 139	$ 2,581
Weighted-Average Rate	0.40%	2.00%
Bank loans
Short-term Debt [Line Items]
Amount Outstanding	$ 60	$ 57
Weighted-Average Rate	4.90%	5.20%

Debt and Borrowing Arrangements - Additional Information (Details)
SFr in Millions

1 Months Ended

3 Months Ended

9 Months Ended

Oct. 15, 2020

USD ($)

Oct. 06, 2020

USD ($)

Oct. 06, 2020

CHF (SFr)

Sep. 24, 2020

USD ($)

Sep. 23, 2020

USD ($)

Sep. 23, 2020

EUR (€)

Sep. 04, 2020

USD ($)

Jul. 02, 2020

USD ($)

May 07, 2020

USD ($)

May 04, 2020

USD ($)

Apr. 13, 2020

USD ($)

Mar. 30, 2020

USD ($)

Mar. 30, 2020

CHF (SFr)

Mar. 24, 2020

USD ($)

Mar. 06, 2020

USD ($)

Feb. 26, 2020

USD ($)

Feb. 10, 2020

USD ($)

Oct. 16, 2020

USD ($)

Dec. 31, 2020

USD ($)

Sep. 30, 2020

USD ($)

Sep. 30, 2019

USD ($)

Sep. 30, 2020

USD ($)

Sep. 30, 2019

USD ($)

Sep. 23, 2020

EUR (€)

May 05, 2020

USD ($)

Apr. 01, 2020

USD ($)

Dec. 31, 2019

USD ($)

Feb. 27, 2019

USD ($)

Debt Instrument [Line Items]

Short-term borrowings

$ 199,000,000

$ 2,638,000,000

Repayment of debt

2,196,000,000

$ 415,000,000

Proceeds from issuance of debt, net of discounts and associated financing costs

5,987,000,000

1,596,000,000

Interest and other expense, net

(89,000,000)

$ (205,000,000)

(364,000,000)

(386,000,000)

Fair value of debt

21,638,000,000

19,388,000,000

Carrying value of debt

20,114,000,000

18,426,000,000

Line of Credit | Credit facility borrowings | Multi-year Senior Unsecured Revolving Credit Facility Expiring February 27, 2024

Debt Instrument [Line Items]

Credit facility, maximum borrowing capacity

$ 4,500,000,000

Total shareholders' equity, excluding accumulated other comprehensive earnings/(losses)

38,200,000,000

$ 24,600,000,000

Amounts drawn on the multi-year credit facility

Notes Payable

Debt Instrument [Line Items]

Proceeds from issuance of debt, net of discounts and associated financing costs

$ 1,460,000,000

€ 1,240,000,000

Debt issued | €

€ 1,250,000,000

Differed financing costs

$ 13,700,000

€ 11,600,000

Notes Payable | Subsequent Event

Debt Instrument [Line Items]

Debt retired

$ 949,700,000

Proceeds from issuance of debt, net of discounts and associated financing costs

$ 1,250,000,000

Notes Payable | Subsequent Event | Forecast

Debt Instrument [Line Items]

Loss on extinguishment of debt

$ 150,000,000

Interest and other expense, net

$ 3,900,000

Notes Payable | 3.625% Notes Due May 2023 | Subsequent Event

Debt Instrument [Line Items]

Debt retired

$ 359,000,000

Debt interest rate

3.625%

Notes Payable | 4.000% Notes Due February 2024 | Subsequent Event

Debt Instrument [Line Items]

Debt retired

$ 203,000,000

Debt interest rate

4.00%

Notes Payable | 3.625% Notes Due February 2026 | Subsequent Event

Debt Instrument [Line Items]

Debt retired

$ 248,000,000

Debt interest rate

3.625%

Notes Payable | 4.125% Notes Due May 2028 | Subsequent Event

Debt Instrument [Line Items]

Debt retired

$ 27,000,000

Debt interest rate

4.125%

Notes Payable | 6.500% Notes Due November 2031 | Subsequent Event

Debt Instrument [Line Items]

Debt retired

$ 5,000,000

Debt interest rate

6.50%

Notes Payable | 7.000% Notes Due August 2037 | Subsequent Event

Debt Instrument [Line Items]

Debt retired

$ 1,000,000

Debt interest rate

7.00%

Notes Payable | 6.875% Notes Due February 2038 | Subsequent Event

Debt Instrument [Line Items]

Debt retired

$ 24,000,000

Debt interest rate

6.875%

Notes Payable | 6.875% Notes Due January 2039 | Subsequent Event

Debt Instrument [Line Items]

Debt retired

$ 10,000,000

Debt interest rate

6.875%

Notes Payable | 6.500% Notes Due February 2040 | Subsequent Event

Debt Instrument [Line Items]

Debt retired

$ 1,000,000

Debt interest rate

6.50%

Notes Payable | 4.625% Notes Due May 2048 | Subsequent Event

Debt Instrument [Line Items]

Debt retired

$ 71,000,000

Debt interest rate

4.625%

Notes Payable | 1.875% U.S. Dollar-denominated Notes Due October 1, 2032 | Subsequent Event

Debt Instrument [Line Items]

Debt interest rate

1.875%

Proceeds from issuance of debt, net of discounts and associated financing costs

$ 621,200,000

Debt issued

625,000,000

Differed financing costs

3,800,000

Notes Payable | 2.625% U.S. Dollar-denominated Notes Due September 4, 2050

Debt Instrument [Line Items]

Debt interest rate

2.625%

Debt issued

$ 500,000,000

Notes Payable | 2.625% U.S. Dollar-denominated Notes Due September 4, 2050 | Subsequent Event

Debt Instrument [Line Items]

Proceeds from issuance of debt, net of discounts and associated financing costs

$ 1,093,800,000

Debt issued

$ 625,000,000

1,130,000,000

Differed financing costs

$ 31,200,000

Notes Payable | 0.625% Swiss Franc-denominated Notes Due October 6, 2020 | Subsequent Event

Debt Instrument [Line Items]

Repayment of debt

$ 147,000,000

SFr 135

Debt interest rate

0.625%

Notes Payable | Euro-denominated Notes Guaranteed by Mondelez International, Inc. Due September 23, 2026

Debt Instrument [Line Items]

Debt interest rate

0.00%

Debt issued | €

€ 500,000,000

Notes Payable | Euro-denominated Notes Guaranteed by Mondelez International Inc. Due September 23, 2029

Debt Instrument [Line Items]

Debt interest rate

0.375%

Debt issued | €

€ 750,000,000

Notes Payable | 1.500% U.S. Dollar-denominated Notes Due February 4, 2031

Debt Instrument [Line Items]

Debt interest rate

1.50%

Proceeds from issuance of debt, net of discounts and associated financing costs

$ 494,800,000

Debt issued

500,000,000

Differed financing costs

$ 5,200,000

Notes Payable | 0.625% U.S. Dollar-denominated Notes Due July 1, 2022

Debt Instrument [Line Items]

Debt interest rate

0.625%

Proceeds from issuance of debt, net of discounts and associated financing costs

$ 998,100,000

Debt issued

1,000,000,000.0

Differed financing costs

$ 1,900,000

Notes Payable | 3.000% U.S. Dollar-denominated Notes Due May 7, 2020

Debt Instrument [Line Items]

Repayment of debt

$ 750,000,000

Debt interest rate

3.00%

Notes Payable | 1.500% U.S. Dollar-denominated Notes Due May 4, 2025

Debt Instrument [Line Items]

Debt interest rate

1.50%

Proceeds from issuance of debt, net of discounts and associated financing costs

$ 743,900,000

Debt issued

750,000,000

Differed financing costs

6,100,000

Notes Payable | 2.750% U.S. Dollar-denominated Notes Due April 13, 2030

Debt Instrument [Line Items]

Debt interest rate

2.75%

Proceeds from issuance of debt, net of discounts and associated financing costs

1,283,900,000

Debt issued

750,000,000

$ 500,000,000

$ 1,250,000,000

Differed financing costs

$ 33,900,000

Notes Payable | 2.125% U.S. Dollar-denominated Notes Due April 13, 2023

Debt Instrument [Line Items]

Debt interest rate

2.125%

Proceeds from issuance of debt, net of discounts and associated financing costs

$ 497,800,000

Debt issued

500,000,000

Differed financing costs

$ 2,200,000

Notes Payable | 0.050% Swiss Franc Notes Due March 30, 2020

Debt Instrument [Line Items]

Repayment of debt

$ 235,000,000

SFr 225

Debt interest rate

0.05%

Notes Payable | 5.375% U.S. Dollar-denominated Notes Due February 10, 2020

Debt Instrument [Line Items]

Repayment of debt

$ 427,000,000

Debt interest rate

5.375%

Commercial paper

Debt Instrument [Line Items]

Short-term borrowings

139,000,000

2,581,000,000

Line of Credit

Debt Instrument [Line Items]

Short-term borrowings

60,000,000

57,000,000

Line of Credit | Credit facility borrowings | 364-day Senior Unsecured Credit Facility Expiring March 23, 2021

Debt Instrument [Line Items]

Credit facility, maximum borrowing capacity

$ 1,750,000,000

$ 1,950,000,000

Credit facility expiration period

364 days

Line of Credit | Credit facility borrowings | 364-day Senior Unsecured Credit Facility Expiring March 5, 2021

Debt Instrument [Line Items]

Credit facility, maximum borrowing capacity

$ 2,500,000,000

Credit facility expiration period

364 days

Line of Credit | Credit facility borrowings | 364-day Senior Unsecured Credit Facility Expiring February 24, 2021

Debt Instrument [Line Items]

Credit facility, maximum borrowing capacity

$ 1,500,000,000

Credit facility expiration period

364 days

Amounts drawn on the revolving credit agreement

$ 0

Minimum | Commercial paper

Debt Instrument [Line Items]

Commercial paper, maturity period

1 day

Maximum | Commercial paper

Debt Instrument [Line Items]

Commercial paper, maturity period

62 days

Net investment hedge derivative contracts | Net investment hedge debt

Debt Instrument [Line Items]

Net investment hedge derivative contracts excluded from hedge effectiveness

^[1]

28,000,000

$ 34,000,000

$ 92,000,000

$ 101,000,000

International Subsidiaries

Debt Instrument [Line Items]

Credit facility, maximum borrowing capacity

$ 1,500,000,000

$ 1,700,000,000

MIHN | Notes Payable | Term Loan

Debt Instrument [Line Items]

Repayment of debt

$ 750,000,000

[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.

Debt and Borrowing Arrangements - Interest and Other Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Debt Disclosure [Abstract]
Interest expense, debt	$ 104	$ 121	$ 322	$ 371
Loss related to interest rate swaps	0	111	103	111
Other (income)/expense, net	(15)	(27)	(61)	(96)
Interest and other expense, net	$ 89	$ 205	$ 364	$ 386

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

Sep. 30, 2020

Dec. 31, 2019

Derivatives, Fair Value [Line Items]

Asset Derivatives

$ 546

$ 599

Liability Derivatives

486

425

Derivatives designated as accounting hedges

Derivatives, Fair Value [Line Items]

Asset Derivatives

288

331

Liability Derivatives

250

255

Derivatives designated as accounting hedges | Interest rate contracts

Derivatives, Fair Value [Line Items]

Asset Derivatives

Liability Derivatives

176

190

Derivatives designated as accounting hedges | Net investment hedge derivative contracts

Derivatives, Fair Value [Line Items]

Asset Derivatives

^[1]

275

312

Liability Derivatives

^[1]

Derivatives not designated as accounting hedges

Derivatives, Fair Value [Line Items]

Asset Derivatives

258

268

Liability Derivatives

236

170

Derivatives not designated as accounting hedges | Currency exchange contracts

Derivatives, Fair Value [Line Items]

Asset Derivatives

Liability Derivatives

Derivatives not designated as accounting hedges | Commodity contracts

Derivatives, Fair Value [Line Items]

Asset Derivatives

170

201

Liability Derivatives

$ 162

$ 120

[1]

Net investment hedge derivative 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 8, 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.

Financial Instruments - Derivative Instruments Fair Value and Measurement Inputs (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Derivative [Line Items]
Total derivatives	$ 60	$ 174
Currency exchange contracts
Derivative [Line Items]
Total derivatives	14	17
Commodity contracts
Derivative [Line Items]
Total derivatives	8	81
Interest rate contracts
Derivative [Line Items]
Total derivatives	(163)	(171)
Net investment hedge derivative contracts
Derivative [Line Items]
Total derivatives	201	247
Quoted Prices in Active Markets for Identical Assets (Level 1)
Derivative [Line Items]
Total derivatives	18	27
Quoted Prices in Active Markets for Identical Assets (Level 1) \| Currency exchange contracts
Derivative [Line Items]
Total derivatives	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) \| Commodity contracts
Derivative [Line Items]
Total derivatives	18	27
Quoted Prices in Active Markets for Identical Assets (Level 1) \| Interest rate contracts
Derivative [Line Items]
Total derivatives	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) \| Net investment hedge derivative contracts
Derivative [Line Items]
Total derivatives	0	0
Significant Other Observable Inputs (Level 2)
Derivative [Line Items]
Total derivatives	42	147
Significant Other Observable Inputs (Level 2) \| Currency exchange contracts
Derivative [Line Items]
Total derivatives	14	17
Significant Other Observable Inputs (Level 2) \| Commodity contracts
Derivative [Line Items]
Total derivatives	(10)	54
Significant Other Observable Inputs (Level 2) \| Interest rate contracts
Derivative [Line Items]
Total derivatives	(163)	(171)
Significant Other Observable Inputs (Level 2) \| Net investment hedge derivative contracts
Derivative [Line Items]
Total derivatives	201	247
Significant Unobservable Inputs (Level 3)
Derivative [Line Items]
Total derivatives	0	0
Significant Unobservable Inputs (Level 3) \| Currency exchange contracts
Derivative [Line Items]
Total derivatives	0	0
Significant Unobservable Inputs (Level 3) \| Commodity contracts
Derivative [Line Items]
Total derivatives	0	0
Significant Unobservable Inputs (Level 3) \| Interest rate contracts
Derivative [Line Items]
Total derivatives	0	0
Significant Unobservable Inputs (Level 3) \| Net investment hedge derivative contracts
Derivative [Line Items]
Total derivatives	$ 0	$ 0

Financial Instruments - Notional Values of Hedging Instruments (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Net investment hedge debt \| Euro notes
Derivative [Line Items]
Notional Amount	$ 3,592	$ 3,436
Net investment hedge debt \| British pound sterling notes
Derivative [Line Items]
Notional Amount	340	349
Net investment hedge debt \| Swiss franc notes
Derivative [Line Items]
Notional Amount	1,276	1,448
Net investment hedge debt \| Canadian dollar notes
Derivative [Line Items]
Notional Amount	450	462
Currency exchange contracts \| Intercompany loans and forecasted interest payments
Derivative [Line Items]
Notional Amount	2,206	2,474
Currency exchange contracts \| Forecasted transactions
Derivative [Line Items]
Notional Amount	4,117	3,993
Commodity contracts
Derivative [Line Items]
Notional Amount	8,136	7,238
Interest rate contracts
Derivative [Line Items]
Notional Amount	3,500	5,250
Net investment hedge contracts
Derivative [Line Items]
Notional Amount	6,168	$ 6,864
Net investment hedge contracts \| Net investment hedge debt
Derivative [Line Items]
Notional Amount	$ 6,200

Financial Instruments - Cash Flow Hedges Effect on Accumulated Other Comprehensive Earnings/(Losses), Net of Tax (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net [Abstract]
Balance at beginning of period	$ 26,097	$ 26,143	$ 27,317	$ 25,602
Transfer of realized losses/(gains) in fair value to earnings	86	143	252	231
Balance at end of period	27,028	26,809	27,028	26,809
Cash flow hedges
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net [Abstract]
Unrealized (loss)/gain in fair value	(69)	(75)	(98)	(214)
Derivative Cash Flow Hedges
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net [Abstract]
Balance at beginning of period	(154)	(295)	(213)	(168)
Balance at end of period	(158)	(259)	(158)	(259)
Derivative Cash Flow Hedges \| Cash flow hedges
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net [Abstract]
Balance at beginning of period	(154)	(295)	(213)	(168)
Transfer of realized losses/(gains) in fair value to earnings	65	111	153	123
Unrealized (loss)/gain in fair value	(69)	(75)	(98)	(214)
Balance at end of period	$ (158)	$ (259)	$ (158)	$ (259)

- Definition

+ References

+ Details

Financial Instruments - Cash Flow Hedges After-tax Gains/(Losses) (Details) - Cash flow hedges - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Derivative Instruments, Gain (Loss) [Line Items]
After-tax gains/(losses) recognized in other comprehensive earnings/(losses)	$ (69)	$ (75)	$ (98)	$ (214)
Currency exchange contracts \| Forecasted transactions
Derivative Instruments, Gain (Loss) [Line Items]
After-tax gains/(losses) recognized in other comprehensive earnings/(losses)	0	0	(1)	3
Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
After-tax gains/(losses) reclassified from accumulated other comprehensive income into earnings/(losses)	(65)	(111)	(153)	(123)
After-tax gains/(losses) recognized in other comprehensive earnings/(losses)	$ (69)	$ (75)	$ (97)	$ (217)

Financial Instruments - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Pre-tax loss on interest rate swaps included in interest and other expense, net	$ 0		$ 111	$ 103	$ 111
Net investment hedge contracts
Derivative Instruments, Gain (Loss) [Line Items]
After-tax loss on interest rate swaps included in interest and other expense, net		$ 79
Pre-tax loss on interest rate swaps included in interest and other expense, net		$ 103	$ 111		$ 111
Derivative, aggregate notional value	6,168			6,168		$ 6,864
Net investment hedge contracts \| Net investment hedges
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, aggregate notional value	6,200			6,200
Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, aggregate notional value	$ 3,500			3,500		$ 5,250
Interest rate contracts \| Cash flow hedges
Derivative Instruments, Gain (Loss) [Line Items]
Expected transfer of unrealized losses for interest rate cash flow hedges to earnings during the next 12 months				$ 20
Hedged forecasted transaction period				4 years

Financial Instruments - Net Investment Hedge Derivative Contracts (Details) - USD ($)
$ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2020

Sep. 30, 2019

Sep. 30, 2020

Sep. 30, 2019

Derivative Instruments, Gain (Loss) [Line Items]

After-tax gain/(loss) on NIH contracts

^[1]

$ (223)

$ 193

$ (6)

$ 260

Net investment hedges | Net investment hedge derivative contracts

Derivative Instruments, Gain (Loss) [Line Items]

Amounts excluded from the assessment of hedge effectiveness

^[2]

$ (28)

$ (34)

$ (92)

$ (101)

[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 condensed consolidated statement of cash flows.
[2]	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.

Financial Instruments - Non-U.S. Dollar Debt Designated as Net Investment Hedges (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Euro notes
Derivative Instruments, Gain (Loss) [Line Items]
After-tax gains/(losses) related to hedges of net investments in international operations	$ (122)	$ 111	$ (135)	$ 133
British pound sterling notes
Derivative Instruments, Gain (Loss) [Line Items]
After-tax gains/(losses) related to hedges of net investments in international operations	(10)	8	7	9
Swiss franc notes
Derivative Instruments, Gain (Loss) [Line Items]
After-tax gains/(losses) related to hedges of net investments in international operations	(27)	24	(47)	16
Canadian notes
Derivative Instruments, Gain (Loss) [Line Items]
After-tax gains/(losses) related to hedges of net investments in international operations	$ (6)	$ 4	$ 9	$ (10)

Financial Instruments - Economic Hedges (Details) - Derivatives Not Designated as Hedging Instruments - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives instruments, pre-tax gains/(losses) recognized in earnings	$ 176	$ 70	$ (75)	$ 121
Currency exchange contracts \| Intercompany loans and forecasted interest payments \| Interest and other expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives instruments, pre-tax gains/(losses) recognized in earnings	7	60	(73)	71
Currency exchange contracts \| Forecasted transactions \| Interest and other expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives instruments, pre-tax gains/(losses) recognized in earnings	6	(1)	(3)	(2)
Currency exchange contracts \| Forecasted transactions \| Cost of sales
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives instruments, pre-tax gains/(losses) recognized in earnings	28	50	50	30
Currency exchange contracts \| Forecasted transactions \| Selling, general and administrative expenses
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives instruments, pre-tax gains/(losses) recognized in earnings	(1)	(1)	(2)	(6)
Commodity contracts \| Cost of sales
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives instruments, pre-tax gains/(losses) recognized in earnings	$ 136	$ (38)	$ (47)	$ 28

Benefit Plans - Pension Costs (Details) - Pension Plans - USD ($)
$ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2020

Sep. 30, 2019

Sep. 30, 2020

Sep. 30, 2019

U.S. Plans

Defined Benefit Plan Disclosure [Line Items]

Service cost

$ 1

$ 10

$ 4

$ 28

Interest cost

Expected return on plan assets

(19)

(22)

(58)

(66)

Net loss from experience differences

Prior service cost/(benefit)

Settlement losses and other expenses

^[1]

Net periodic benefit costs

U.S. Plans | Simplify to Grow Program

Defined Benefit Plan Disclosure [Line Items]

Settlement losses and other expenses

Non-U.S. Plans

Defined Benefit Plan Disclosure [Line Items]

Service cost

Interest cost

110

151

Expected return on plan assets

(100)

(99)

(295)

(303)

Net loss from experience differences

111

Prior service cost/(benefit)

(2)

(5)

Settlement losses and other expenses

^[1]

Net periodic benefit costs

$ (6)

$ 14

$ (13)

$ 48

[1]

In connection with our Simplify to Grow Program, settlement losses and other expenses were less than $1 million for the three months and $4 million for the nine months ended September 30, 2020 and $2 million for the three months and $7 million for the nine months ended September 30, 2019. These losses were recorded within benefit plan non-service income on our condensed consolidated statements of earnings.

Benefit Plans - Additional Information (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
	Jul. 11, 2019	Sep. 30, 2020	Jun. 30, 2019	Sep. 30, 2020
Defined Benefit Plan Disclosure [Line Items]
Multiemployer Plan, Type [Extensible List]				us-gaap:PensionPlanMember
Multiemployer Plan, Pension, Significant, Name [Extensible List]				mdlz:BakeryAndConfectioneryUnionAndIndustryInternationalPensionFundMember
U.S. Plans \| North America
Defined Benefit Plan Disclosure [Line Items]
Multiemployer plan, withdrawal liability	$ 526	$ 379		$ 379
Multiemployer plan, withdrawal obligation term	20 years
Multiemployer plan, final adjustment to reduce withdrawal liability			$ 35
Multiemployer plan, final adjustment to reduce withdrawal liability, net of tax			$ 26
Multiemployer plan, accreted interest on the long-term liability		3		9
Other current liabilities \| U.S. Plans \| North America
Defined Benefit Plan Disclosure [Line Items]
Multiemployer plan, withdrawal liability		14		14
Long-term other liabilities \| U.S. Plans \| North America
Defined Benefit Plan Disclosure [Line Items]
Multiemployer plan, withdrawal liability		365		365
Pension Plans \| U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Employer contribution				12
Estimated future employer contributions		4		4
Pension Plans \| Non-U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Employer contribution				147
Estimated future employer contributions		$ 43		43
Pension Plans \| United Kingdom and Ireland
Defined Benefit Plan Disclosure [Line Items]
Employer contribution				$ 70

Benefit Plans - Postretirement Benefit Plans (Details) - Postretirement Benefit Plans - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 1	$ 1	$ 4	$ 4
Interest cost	3	4	9	11
Net loss from experience differences	1	2	5	5
Prior service credit	(8)	(10)	(23)	(29)
Net periodic benefit costs	$ (3)	$ (3)	$ (5)	$ (9)

Benefit Plans - Postemployment Benefit Costs (Details) - Postemployment Benefit Plans - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 1	$ 1	$ 4	$ 4
Interest cost	1	1	3	3
Amortization of net gains	(1)	(1)	(3)	(2)
Net periodic benefit costs	$ 1	$ 1	$ 4	$ 5

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

3 Months Ended

9 Months Ended

12 Months Ended

Sep. 30, 2020

Dec. 31, 2019

Shares Subject to Option

Balance at January 1, 2020 (in shares)

33,855,948

Options granted (in shares)

2,412,410

Options exercised (in shares)

^[1]

(6,737,525)

Options canceled (in shares)

(558,246)

Balance at September 30, 2020 (in shares)

28,972,587

33,855,948

Weighted- Average Exercise or Grant Price Per Share

Balance at January 1, 2020 (in dollars per share)

$ 36.19

Options granted (in dollars per share)

58.50

Options exercised (in dollars per share)

^[1]

30.71

Options canceled (in dollars per share)

44.10

Balance at September 30, 2020 (in dollars per share)

$ 39.16

$ 36.19

Average Remaining Contractual Term

Average remaining contractual term

5 years

Aggregate Intrinsic Value

Aggregate intrinsic value

$ 533

$ 640

Aggregate intrinsic value options exercised

^[1]

173

Cash received from options exercised

201

Actual tax benefit realized and recorded in the provision for income taxes for the tax deductions from the option exercises

$ 5

$ 23

Annual grant to eligible employees

Shares Subject to Option

Options granted (in shares)

2,280,440

Weighted- Average Exercise or Grant Price Per Share

Options granted (in dollars per share)

$ 59.04

Additional options issued

Shares Subject to Option

Options granted (in shares)

131,970

Weighted- Average Exercise or Grant Price Per Share

Options granted (in dollars per share)

$ 49.23

[1]

Cash received from options exercised was $59 million in the three months and $201 million in the nine months ended September 30, 2020. The actual tax benefit realized and recorded in the provision for income taxes for the tax deductions from the option exercises totaled $5 million in the three months and $23 million in the nine months ended September 30, 2020.

Stock Plans - Performance Share Units and Other Stock-Based Awards Activity (Details) - USD ($)
$ / shares in Units, $ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2020

Number of Shares

Balance at January 1, 2020 (in shares)

5,661,945

Shares granted (in shares)

1,742,541

Vested (in shares)

^[1]

(1,718,365)

Forfeited (in shares)

(422,229)

Balance at September 30, 2020 (in shares)

5,263,892

Weighted-average grant date fair value per share

Balance at January 1, 2020 (in dollars per share)

^[2]

$ 46.90

Shares granted (in dollars per share)

^[2]

61.78

Vested (in dollars per share)

^[1],[2]

43.04

Forfeited (in dollars per share)

^[2]

47.33

Balance at September 30, 2020 (in dollars per share)

^[2]

$ 53.05

Weighted-Average Aggregate Fair Value

Weighted average grant date fair value of shares granted

^[2]

$ 108

Weighted average grant date fair value of shares vested

^[1],[2]

Maximum

Weighted-Average Aggregate Fair Value

Actual tax benefit/(expense) realized for the tax deductions from the shares vested

$ 1

$ 3

Annual grant to eligible employees

Grant Date

Grant Date

Feb. 20, 2020

Performance share units

Number of Shares

Shares granted (in shares)

825,230

Weighted-average grant date fair value per share

Shares granted (in dollars per share)

^[2]

$ 65.83

Deferred stock units

Number of Shares

Shares granted (in shares)

545,550

Weighted-average grant date fair value per share

Shares granted (in dollars per share)

^[2]

$ 59.04

Additional shares granted

Number of Shares

Shares granted (in shares)

^[3]

371,761

Weighted-average grant date fair value per share

Shares granted (in dollars per share)

^[2],[3]

$ 56.82

[1]	The actual tax benefit/(expense) realized and recorded in the provision for income taxes for the tax deductions from the shares vested totaled less than $1 million in the three months and $3 million in the nine months ended September 30, 2020.
[2]	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.
[3]	Includes performance share units and deferred stock units.

Stock Plans - Share Repurchase Program (Details) - USD ($) $ / shares in Units, shares in Millions		3 Months Ended	9 Months Ended		84 Months Ended
	Jan. 31, 2018	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018
Class of Stock [Line Items]
Common shares repurchased		$ 206,000,000	$ 701,000,000	$ 1,147,000,000
Common Stock \| Prior to January 1, 2020
Class of Stock [Line Items]
Stock repurchase value						$ 13,700,000,000
Common shares repurchased					$ 16,500,000,000
Common Stock \| Share Repurchase Program Amended January 31, 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 shares repurchased			$ 700,000,000
Number of shares repurchased (in shares)			12.9
Average cost of shares repurchased (in dollars per share)			$ 54.25
Remaining share repurchase capacity			$ 2,500,000,000

Commitments and Contingencies (Details) - U.S. Commodity Futures Trading Commission (CFTC)	9 Months Ended
	Sep. 30, 2020 USD ($)
Loss Contingencies [Line Items]
Loss contingency, filing date	April 1, 2015
Loss contingency, damages sought	$ 1,000,000
Each Additional Violation of the Commodity Exchange Act
Loss Contingencies [Line Items]
Loss contingency, damages sought	$ 140,000

Reclassifications from Accumulated Other Comprehensive Income - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Equity [Abstract]
Losses reclassified from accumulated other comprehensive earnings/(losses) to net earnings	$ 86	$ 143	$ 252	$ 231

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

3 Months Ended

9 Months Ended

Sep. 30, 2020

Sep. 30, 2019

Sep. 30, 2020

Sep. 30, 2019

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

Balance at beginning of period

$ 26,097

$ 26,143

$ 27,317

$ 25,602

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

(8)

(7)

Total other comprehensive earnings/(losses)

172

(222)

(994)

(101)

Other comprehensive earnings/(losses) attributable to Mondelēz International

164

(213)

(1,001)

(93)

Balance at end of period

27,028

26,809

27,028

26,809

Currency translation adjustments

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

Balance at beginning of period

(9,609)

(8,430)

(8,320)

(8,622)

Currency impact

184

(316)

(1,071)

(144)

Tax (expense)/benefit

(31)

(35)

(10)

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

(8)

(7)

Total other comprehensive earnings/(losses)

213

(347)

(1,077)

(154)

Balance at end of period

(9,404)

(8,768)

(9,404)

(8,768)

Equity method investment transactions

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

Losses/(gains) reclassified into net earnings

^[1]

Pension and Other Benefits Plans

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

Balance at beginning of period

(1,656)

(1,799)

(1,721)

(1,854)

Currency impact

(60)

(19)

Net actuarial gain/(loss) arising during period

(22)

(28)

Tax (expense)/benefit before reclassifications

(1)

Tax expense/(benefit) on reclassifications

^[2]

(7)

(22)

(25)

Total other comprehensive earnings/(losses)

(37)

144

Balance at end of period

(1,693)

(1,710)

(1,693)

(1,710)

Amortization of experience losses and prior service costs

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

Losses/(gains) reclassified into net earnings

^[3]

100

Settlement losses and other expenses

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

Losses/(gains) reclassified into net earnings

^[1]

Derivative Cash Flow Hedges

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

Balance at beginning of period

(154)

(295)

(213)

(168)

Currency impact

(3)

(11)

(2)

(10)

Losses/(gains) reclassified into net earnings

^[1],[4]

111

179

123

Net actuarial gain/(loss) arising during period

(67)

(74)

(123)

(232)

Tax (expense)/benefit before reclassifications

Tax expense/(benefit) on reclassifications

^[2]

(1)

(26)

Total other comprehensive earnings/(losses)

(4)

(91)

Balance at end of period

(158)

(259)

(158)

(259)

Accumulated other comprehensive income attributable to Mondelēz International

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

Balance at beginning of period

(11,419)

(10,524)

(10,254)

(10,644)

Total other comprehensive earnings/(losses)

164

(213)

(1,001)

(93)

Balance at end of period

$ (11,255)

$ (10,737)

$ (11,255)

$ (10,737)

[1]	These amounts include equity method investment transactions recorded within gain/(loss) on equity method investment transactions.
[2]	Taxes reclassified to earnings are recorded within the provision for income taxes.
[3]	These reclassified losses are included in net periodic benefit costs disclosed in Note 10, Benefit Plans.
[4]	These reclassified gains or losses are recorded within interest and other expense, net..

Income Taxes (Details) $ in Millions	3 Months Ended		9 Months Ended
Income Taxes (Details) $ in Millions	Sep. 30, 2020 USD ($) transaction	Sep. 30, 2019 USD ($)	Sep. 30, 2020 USD ($) transaction	Sep. 30, 2019 USD ($)
Income Tax Contingency [Line Items]
Estimated annual effective tax rate			27.30%	25.40%
Effective tax rate	36.10%	(92.50%)	36.00%	(8.80%)
Effective tax rate, excluding effects of equity method investment transaction	29.00%		21.50%
Discrete net tax expense (benefit)	$ 22		$ (96)
Net benefit from the release of uncertain tax positions due to the expirations of statutes of limitations and audit settlements		$ 17	$ 31	$ 101
KDP
Income Tax Contingency [Line Items]
Net tax expense incurred in connection with equity method transaction	$ 77
Number of equity method share sale transactions \| transaction	2		3
JDEP and KDP
Income Tax Contingency [Line Items]
Net tax expense incurred in connection with equity method transaction	$ 355
U.K.
Income Tax Contingency [Line Items]
Net benefit from the release of uncertain tax positions due to the expirations of statutes of limitations and audit settlements	7
Foreign Tax Authority
Income Tax Contingency [Line Items]
Net benefit from the release of uncertain tax positions due to the expirations of statutes of limitations and audit settlements		12
Foreign Tax Authority \| U.K.
Income Tax Contingency [Line Items]
Net expense (benefit) due to impact of tax reform	$ 30
Foreign Tax Authority \| China
Income Tax Contingency [Line Items]
Net benefit related to release in valuation allowance			$ 70
Foreign Tax Authority \| Swiss Tax Administration
Income Tax Contingency [Line Items]
Discrete net tax expense (benefit)		(39)		(110)
Net expense (benefit) due to impact of tax reform		(769)		$ (769)
Net benefit from impact of Swiss tax reform		767
Indirect impact of Swiss tax reform on selling, general and administrative expenses		$ 2
Effective tax rate, excluding effects of Swiss tax reform		20.00%		20.90%

Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Earnings Per Share [Abstract]
Net earnings	$ 1,122	$ 1,431	$ 2,410	$ 3,208
Noncontrolling interest earnings	(3)	(5)	(11)	(12)
Net earnings attributable to Mondelēz International	$ 1,119	$ 1,426	$ 2,399	$ 3,196
Weighted-average shares for basic EPS (in shares)	1,432	1,445	1,432	1,446
Plus incremental shares from assumed conversions of stock options and long-term incentive plan shares (in shares)	10	13	10	13
Weighted-average shares for diluted EPS (in shares)	1,442	1,458	1,442	1,459
Basic earnings per share attributable to Mondelēz International (in dollars per share)	$ 0.78	$ 0.99	$ 1.68	$ 2.21
Diluted earnings per share attributable to Mondelēz International (in dollars per share)	$ 0.78	$ 0.98	$ 1.66	$ 2.19

- Definition

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.

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

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Earnings per Share - Additional Information (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Stock Options and Performance Share Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Mondelēz International stock options excluded from the calculation of diluted EPS (in shares)	2.8	2.8	3.6	4.8

Segment Reporting - Additional Information (Details)	9 Months Ended
Segment Reporting - Additional Information (Details)	Sep. 30, 2020 numberOfSegments
Segment Reporting [Abstract]
Number of operating segments	4

Segment Reporting - Net Revenues and Earnings (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Segment Reporting Information [Line Items]
Net revenues	$ 6,665	$ 6,355	$ 19,283	$ 18,955
Operating income	1,135	876	2,704	2,937
Unrealized gains/(losses) on hedging activities (mark-to-market impacts)	145	20	(42)	69
General corporate expenses	(66)	(76)	(253)	(264)
Amortization of intangibles	(50)	(43)	(143)	(130)
Net gain on divestiture	0	3	0	44
Acquisition-related costs	0	(1)	(15)	(2)
Benefit plan non-service income	38	13	102	42
Interest and other expense, net	(89)	(205)	(364)	(386)
Earnings before income taxes	1,084	684	2,442	2,593
Latin America
Segment Reporting Information [Line Items]
Net revenues	610	736	1,847	2,273
Operating income	77	84	149	250
AMEA
Segment Reporting Information [Line Items]
Net revenues	1,470	1,419	4,209	4,312
Operating income	210	188	615	635
Europe
Segment Reporting Information [Line Items]
Net revenues	2,526	2,377	7,248	7,175
Operating income	432	331	1,201	1,239
North America
Segment Reporting Information [Line Items]
Net revenues	2,059	1,823	5,979	5,195
Operating income	$ 387	$ 370	$ 1,192	$ 1,096

Segment Reporting - Net Revenues by Product Category (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Segment Reporting Information [Line Items]
Net revenues	$ 6,665	$ 6,355	$ 19,283	$ 18,955
Biscuits
Segment Reporting Information [Line Items]
Net revenues	3,293	2,947	9,429	8,493
Chocolate
Segment Reporting Information [Line Items]
Net revenues	2,000	1,928	5,676	5,777
Gum & Candy
Segment Reporting Information [Line Items]
Net revenues	659	838	1,975	2,498
Beverages
Segment Reporting Information [Line Items]
Net revenues	234	217	799	835
Cheese & Grocery
Segment Reporting Information [Line Items]
Net revenues	479	425	1,404	1,352
Latin America
Segment Reporting Information [Line Items]
Net revenues	610	736	1,847	2,273
Latin America \| Biscuits
Segment Reporting Information [Line Items]
Net revenues	172	186	500	542
Latin America \| Chocolate
Segment Reporting Information [Line Items]
Net revenues	151	164	464	551
Latin America \| Gum & Candy
Segment Reporting Information [Line Items]
Net revenues	103	212	350	621
Latin America \| Beverages
Segment Reporting Information [Line Items]
Net revenues	102	93	294	324
Latin America \| Cheese & Grocery
Segment Reporting Information [Line Items]
Net revenues	82	81	239	235
AMEA
Segment Reporting Information [Line Items]
Net revenues	1,470	1,419	4,209	4,312
AMEA \| Biscuits
Segment Reporting Information [Line Items]
Net revenues	550	495	1,516	1,361
AMEA \| Chocolate
Segment Reporting Information [Line Items]
Net revenues	533	526	1,437	1,521
AMEA \| Gum & Candy
Segment Reporting Information [Line Items]
Net revenues	173	213	511	662
AMEA \| Beverages
Segment Reporting Information [Line Items]
Net revenues	109	103	437	444
AMEA \| Cheese & Grocery
Segment Reporting Information [Line Items]
Net revenues	105	82	308	324
Europe
Segment Reporting Information [Line Items]
Net revenues	2,526	2,377	7,248	7,175
Europe \| Biscuits
Segment Reporting Information [Line Items]
Net revenues	803	752	2,243	2,253
Europe \| Chocolate
Segment Reporting Information [Line Items]
Net revenues	1,255	1,177	3,619	3,543
Europe \| Gum & Candy
Segment Reporting Information [Line Items]
Net revenues	153	165	461	519
Europe \| Beverages
Segment Reporting Information [Line Items]
Net revenues	23	21	68	67
Europe \| Cheese & Grocery
Segment Reporting Information [Line Items]
Net revenues	292	262	857	793
North America
Segment Reporting Information [Line Items]
Net revenues	2,059	1,823	5,979	5,195
North America \| Biscuits
Segment Reporting Information [Line Items]
Net revenues	1,768	1,514	5,170	4,337
North America \| Chocolate
Segment Reporting Information [Line Items]
Net revenues	61	61	156	162
North America \| Gum & Candy
Segment Reporting Information [Line Items]
Net revenues	230	248	653	696
North America \| Beverages
Segment Reporting Information [Line Items]
Net revenues	0	0	0	0
North America \| Cheese & Grocery
Segment Reporting Information [Line Items]
Net revenues	$ 0	$ 0	$ 0	$ 0