0001103982-22-000007 | 10-Q | XBRL Viewer | Mondelez International INC

Selling, general and administrative expenses

$ 7,764

$ 7,238

^[1]

Cost of sales

4,781

4,272

Gross profit

2,983

2,966

1,693

1,564

Asset impairment and exit costs

164

Gain on acquisition

(9)

Amortization of intangible assets

Benefit plan non-service income

1,094

1,283

(33)

(44)

Earnings before income taxes

168

218

959

1,109

Income tax provision

(210)

(212)

Loss on equity method investment transactions

(5)

(7)

Equity method investment net earnings

117

Net earnings

861

968

Noncontrolling interest earnings

(6)

(7)

Net earnings attributable to Mondelēz International

$ 855

$ 961

Per share data:

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

$ 0.62

$ 0.68

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

$ 0.61

$ 0.68

[1]	Our snack product categories include biscuits, chocolate and gum & candy. During 2022, we realigned some of our products between our biscuits and chocolate categories; as such, we reclassified the product category net revenues on a basis consistent with the 2022 presentation.

Condensed Consolidated Statements of Comprehensive Earnings - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Net earnings	$ 861	$ 968
Other comprehensive earnings/(losses), net of tax:
Currency translation adjustment	50	(136)
Pension and other benefit plans	93	69
Derivative cash flow hedges	52	2
Total other comprehensive earnings/(losses)	195	(65)
Comprehensive earnings/(losses)	1,056	903
less: Comprehensive earnings/(losses) attributable to noncontrolling interests	2	(2)
Comprehensive earnings/(losses) attributable to Mondelēz International	$ 1,054	$ 905

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
ASSETS
Cash and cash equivalents	$ 1,946	$ 3,546
Trade receivables (net of allowances of $55 at March 31, 2022 and $37 at December 31, 2021)	2,943	2,337
Other receivables (net of allowances of $48 at March 31, 2022 and $49 at December 31, 2021)	749	851
Inventories, net	2,838	2,708
Other current assets	1,143	900
Total current assets	9,619	10,342
Property, plant and equipment, net	9,015	8,658
Operating lease right of use assets	653	613
Goodwill	22,618	21,978
Intangible assets, net	18,829	18,291
Prepaid pension assets	1,046	1,009
Deferred income taxes	561	541
Equity method investments	5,255	5,289
Other assets	398	371
TOTAL ASSETS	67,994	67,092
LIABILITIES
Short-term borrowings	606	216
Current portion of long-term debt	754	1,746
Accounts payable	7,241	6,730
Accrued marketing	2,272	2,097
Accrued employment costs	721	822
Other current liabilities	2,509	2,397
Total current liabilities	14,103	14,008
Long-term debt	18,344	17,550
Long-term operating lease liabilities	508	459
Deferred income taxes	3,521	3,444
Accrued pension costs	645	681
Accrued postretirement health care costs	304	301
Other liabilities	2,353	2,326
TOTAL LIABILITIES	39,778	38,769
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 March 31, 2022 and December 31, 2021)	0	0
Additional paid-in capital	32,053	32,097
Retained earnings	31,163	30,806
Accumulated other comprehensive losses	(10,425)	(10,624)
Treasury stock, at cost (612,818,033 shares at March 31, 2022 and 604,907,239 shares at December 31, 2021)	(24,630)	(24,010)
Total Mondelēz International Shareholders’ Equity	28,161	28,269
Noncontrolling interest	55	54
TOTAL EQUITY	28,216	28,323
TOTAL LIABILITIES AND EQUITY	$ 67,994	$ 67,092

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Trade receivables, allowances	$ 55	$ 37
Other receivables, allowances	$ 48	$ 49
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)	612,818,033	604,907,239

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, 2020	$ 27,654	$ 0	$ 32,070	$ 28,402	$ (10,690)	$ (22,204)	$ 76
Comprehensive earnings/(losses):
Net earnings	968			961			7
Other comprehensive earnings/(losses), net of income taxes	(65)				(56)		(9)
Exercise of stock options and issuance of other stock awards	54		(61)	(15)		130
Common Stock repurchased	(1,017)					(1,017)
Cash dividends declared	(445)			(445)
Dividends paid on noncontrolling interest and other activities	0			0			0
Balance at end of period at Mar. 31, 2021	27,149	0	32,009	28,903	(10,746)	(23,091)	74
Balance at beginning of period at Dec. 31, 2021	28,323	0	32,097	30,806	(10,624)	(24,010)	54
Comprehensive earnings/(losses):
Net earnings	861			855			6
Other comprehensive earnings/(losses), net of income taxes	195				199		(4)
Exercise of stock options and issuance of other stock awards	60		(44)	(11)		115
Common Stock repurchased	(735)					(735)
Cash dividends declared	(487)			(487)
Dividends paid on noncontrolling interest and other activities	(1)			0			(1)
Balance at end of period at Mar. 31, 2022	$ 28,216	$ 0	$ 32,053	$ 31,163	$ (10,425)	$ (24,630)	$ 55

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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=124509347&loc=SL7669619-108580

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=124431353&loc=SL124442407-227067

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21463-112644

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 45
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=118261656&loc=d3e32136-110900

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 55
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=124507222&loc=d3e1436-108581

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 45
-Paragraph 20
-URI http://asc.fasb.org/extlink&oid=118261656&loc=d3e32211-110900

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6450520&loc=d3e32583-110901

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=124431353&loc=SL124442411-227067

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=124509347&loc=SL7669625-108580

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124509347&loc=SL7669619-108580

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (a)(1)
-URI http://asc.fasb.org/extlink&oid=109239629&loc=SL4573702-111684

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22663-107794

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=124431353&loc=SL124452729-227067

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=123570139&loc=d3e3000-108585

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 19
-URI http://asc.fasb.org/extlink&oid=123454820&loc=SL4569616-111683

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721683-107760

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 235
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-URI http://asc.fasb.org/extlink&oid=120399901&loc=d3e537907-122884

Reference 23: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124509347&loc=SL7669625-108580

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 29: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (c)(1)
-URI http://asc.fasb.org/extlink&oid=109239629&loc=SL4573702-111684

Reference 31: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4J
-URI http://asc.fasb.org/extlink&oid=120409616&loc=SL4591551-111686

Reference 32: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4K
-URI http://asc.fasb.org/extlink&oid=120409616&loc=SL4591552-111686

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22658-107794

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.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 45
-Paragraph 24
-URI http://asc.fasb.org/extlink&oid=124436220&loc=d3e21930-107793

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 45
-Paragraph 23
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=124436220&loc=d3e21914-107793

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22644-107794

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=124431353&loc=SL124442411-227067

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 10
-Section 65
-Paragraph 4
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=122640432&loc=SL121648383-210437

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 105
-SubTopic 10
-Section 65
-Paragraph 6
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=124434974&loc=SL124442142-165695

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 105
-SubTopic 10
-Section 65
-Paragraph 6
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=124434974&loc=SL124442142-165695

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 16
-URI http://asc.fasb.org/extlink&oid=123454820&loc=SL4568740-111683

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (e)(3)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 45
-Paragraph 5
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=124436220&loc=d3e21711-107793

Reference 13: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 14: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6450520&loc=d3e32583-110901

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 65
-Paragraph 8
-Subparagraph (d)(2)
-URI http://asc.fasb.org/extlink&oid=123459177&loc=SL121830611-158277

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 45
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=118261656&loc=d3e32136-110900

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 65
-Paragraph 8
-Subparagraph (d)(3)
-URI http://asc.fasb.org/extlink&oid=123459177&loc=SL121830611-158277

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (f)(2)
-URI http://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 65
-Paragraph 15
-Subparagraph (f)(2)
-URI http://asc.fasb.org/extlink&oid=121322162&loc=SL121327923-165333

Reference 21: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4I
-URI http://asc.fasb.org/extlink&oid=120409616&loc=SL4590271-111686

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (f)(1)
-URI http://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 45
-Paragraph 20
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=118261656&loc=d3e32211-110900

Reference 24: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123454820&loc=SL4568447-111683

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 65
-Paragraph 15
-Subparagraph (f)(1)
-URI http://asc.fasb.org/extlink&oid=121322162&loc=SL121327923-165333

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(3)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 65
-Paragraph 15
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=121322162&loc=SL121327923-165333

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Publisher FASB
-Subparagraph (a)(3)(iii)(03)

Business Combination and Asset Acquisition [Abstract]

Condensed Consolidated Statements of Equity (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Retained Earnings
Cash dividends declared (in dollars per share)	$ 0.350	$ 0.315

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
CASH PROVIDED BY/(USED IN) OPERATING ACTIVITIES
Net earnings	$ 861	$ 968
Adjustments to reconcile net earnings to operating cash flows:
Depreciation and amortization	275	284
Stock-based compensation expense	24	25
Deferred income tax (benefit)/provision	(70)	34
Asset impairments and accelerated depreciation	155	43
Loss on early extinguishment of debt	38	110
Gain on acquisition	0	(9)
Loss on equity method investment transactions	5	7
Equity method investment net earnings	(117)	(78)
Distributions from equity method investments	107	74
Other non-cash items, net	(13)	(23)
Change in assets and liabilities, net of acquisitions and divestitures:
Receivables, net	(517)	(494)
Inventories, net	(81)	(37)
Accounts payable	397	283
Other current assets	(104)	(140)
Other current liabilities	230	(55)
Change in pension and postretirement assets and liabilities, net	(59)	(77)
Net cash provided by operating activities	1,131	915
CASH PROVIDED BY/(USED IN) INVESTING ACTIVITIES
Capital expenditures	(167)	(216)
Acquisitions, net of cash received	(1,418)	(490)
Proceeds from divestitures including equity method investments	66	0
Proceeds from sale of property, plant and equipment and other	78	16
Net cash used in investing activities	(1,441)	(690)
CASH PROVIDED BY/(USED IN) FINANCING ACTIVITIES
Issuances of commercial paper, maturities greater than 90 days	0	0
Repayments of commercial paper, maturities greater than 90 days	0	0
Net issuances/(repayments) of other short-term borrowings	217	647
Long-term debt proceeds	1,991	2,373
Long-term debt repayments	(2,306)	(3,353)
Repurchase of Common Stock	(751)	(1,046)
Dividends paid	(491)	(453)
Other	60	51
Net cash used in financing activities	(1,280)	(1,781)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(10)	(35)
Cash, cash equivalents and restricted cash:
(Decrease)/Increase	(1,600)	(1,591)
Balance at beginning of period	3,553	3,650
Balance at end of period	$ 1,953	$ 2,059

Basis of Presentation

3 Months Ended

Mar. 31, 2022

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, 2021.

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 as there are no readily determinable fair values for the equity interests, these investments are carried at cost with changes in the investment recognized to the extent cash is received.

War in Ukraine

In February 2022, Russia began a military invasion of Ukraine and we closed our operations and facilities in Ukraine. In March 2022, our two Ukrainian manufacturing facilities in Trostyanets and Vyshhorod were significantly damaged. During the first quarter of 2022, we evaluated and impaired these and other assets. We recorded $143 million of total expenses ($145 million after-tax) incurred as a direct result of the war, including $75 million recorded in asset impairment and exit costs, $44 million in cost of sales and $24 million in selling, general and administrative expenses. We recorded $75 million of property, plant and equipment impairments, $33 million of estimated inventory reserves and write-offs, $19 million of increased estimated allowances for trade receivables and $16 million in accrued expenses. We continue to consolidate both our Ukrainian and Russian subsidiaries and continue to evaluate our ability to control our operating activities and businesses on an ongoing basis. In connection with these findings and impacts, we have made estimates and assumptions based on information available to us. We base our estimates on historical experience, expectations of future impacts and other assumptions that we believe are reasonable. Given the uncertainty of the ongoing effects of the war in Ukraine, and its impact on the global economic environment, our estimates could be significantly different than future performance.

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 currency 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. Local currency monetary assets and liabilities are remeasured into U.S. dollars using exchange rates as of the latest balance sheet date, with remeasurement gains and losses recognized in net earnings.

Türkiye. During the first quarter of 2022, primarily based on data published by the Türkiye Statistical Institute that indicated that Türkiye's three-year cumulative inflation rate exceeded 100%, we concluded that Türkiye became a highly inflationary economy for accounting purposes. As of April 1, 2022, we expect to apply highly inflationary accounting for our subsidiaries operating in Türkiye and change their functional currency from the Turkish lira to the U.S. dollar. Our operations in Türkiye contributed $43 million, or 0.6% of our condensed consolidated net revenues in the three months ended March 31, 2022. Based on a review of our Turkish lira-denominated monetary assets and liabilities, our operations in Türkiye had an immaterial net monetary liability position as of March 31, 2022.

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 Argentinean subsidiaries and changed their functional currency from the Argentinean peso to the U.S. dollar. Our operations in Argentina contributed $129 million, or 1.7% of our condensed consolidated net revenues in the three months ended March 31, 2022. As of March 31, 2022, our Argentinean operations had $26 million of Argentinean peso denominated net monetary assets. Within selling, general and administrative expenses, we recorded a remeasurement loss of $5 million during the three months ended March 31, 2022 related to the revaluation of the Argentinean peso denominated net monetary position over these periods.

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 potential exposures. We continue to monitor the developments in Ukraine and Russia as well as in the ongoing COVID-19 global pandemic and related impacts to our business operations, currencies and net monetary exposures. Since the global onset of COVID-19 in early 2020, most countries in which we do business experienced periods of significant economic uncertainty as well as exchange rate volatility. At this time, within our consolidated entities, Argentina and Türkiye are or will be accounted for as highly inflationary economies as noted above, and we continue to monitor currency volatility and associated risks, including highly inflationary economies.

Cash, Cash Equivalents and Restricted Cash:

Cash and cash equivalents include demand deposits with banks and all highly liquid investments with original maturities of three months or less. We also have restricted cash that is recorded within other current assets of $7 million as of March 31, 2022 and $7 million as of December 31, 2021. Total cash, cash equivalents and restricted cash was $1,953 million as of March 31, 2022 and $3,553 million as of December 31, 2021.

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, 2022	$	(37)	$	(49)	$	(10)
Current period provision for expected credit losses	(19)		(2)		(5)
Write-offs charged against the allowance	3		—		—

Currency	(2)		3		(2)
Balance at March 31, 2022	$	(55)	$	(48)	$	(17)

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 $887 million as of March 31, 2022 and $761 million as of December 31, 2021. 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 $95 million in operating lease and $56 million in finance lease right-of-use assets obtained in exchange for lease obligations during the three months ended March 31, 2022 and $29 million in operating lease and $30 million in finance lease right-of-use assets obtained in exchange for lease obligations during the three months ended March 31, 2021.

New Accounting Pronouncements:

In October 2021, the Financial Accounting Standards Board (“FASB”) issued an Accounting Standards Update (“ASU”) which requires companies to recognize and measure customer contract assets and contract liabilities acquired in a business combination as if the acquiring company originated the related revenue contracts. Prior to adopting this ASU, acquired contract assets and liabilities were measured at fair value. This ASU is effective for fiscal years beginning after December 15, 2022 and early adoption is permitted. We are evaluating the timing and effects of adopting this ASU and currently we do not expect this ASU to have a material impact on our consolidated financial statements.

In March 2020 and subsequently in January 2021, the FASB issued an ASU to provide optional accounting guidance for a limited period of time to ease the potential burden in accounting for reference rate reform. The guidance provides optional expedients and exceptions to existing accounting requirements for contract modifications and hedge accounting related to transitioning from discontinued reference rates, such as LIBOR, to alternative reference rates, if certain criteria are met. The new accounting requirements can be applied as of the beginning of the interim period including March 12, 2020, or any date thereafter, through December 31, 2022. We expect to adopt this standard in the fourth quarter of 2022. Based on our evaluation of our contracts to date, we do not expect this ASU to have a material impact on our consolidated financial statements.

Acquisitions and Divestitures

3 Months Ended

Mar. 31, 2022

Acquisitions and Divestitures

Note 2. Acquisitions and Divestitures

On April 24, 2022, we entered into an agreement with Grupo Bimbo to acquire Ricolino, its confectionery business located primarily in Mexico for a purchase price of approximately $1.3 billion, subject to closing purchase price adjustments. The transaction, which will be funded through a combination of an issuance of debt and cash on hand, is subject to relevant antitrust approvals and closing conditions and is expected to close in late Q3 or early Q4 2022.

On January 3, 2022, we acquired Chipita S.A. (“Chipita”), a leading croissants and baked snacks company in the Central and Eastern European markets. The acquisition of Chipita offers a strategic complement to our existing portfolio and advances our strategy to become the global leader in broader snacking. The cash consideration paid for Chipita totaled €1.3 billion ($1.4 billion), net of cash received, plus the assumption of Chipita’s debt of €0.4 billion ($0.4 billion) for a total purchase price of €1.7 billion ($1.9 billion).

We are working to complete the valuation and have recorded a preliminary purchase price allocation of:


	(in millions)
Cash	$	52
Receivables	102
Inventory	62
Other current assets	4
Property, plant and equipment	406
Finance leases right of use assets	8
Definite life intangible assets	48
Indefinite life intangible assets	686
Goodwill	774
Other assets	79
Assets acquired	$	2,221
Current liabilities	131
Deferred tax liability	155
Finance lease liabilities	8
Other liabilities	21
Total purchase price	$	1,906
Less: long-term debt	(436)
Less: cash received	(52)
Net Cash Paid	$	1,418

Within identifiable intangible assets, we allocated $686 million to trade names which have an indefinite-life. The fair value for the 7 Days trade name, which is the primary asset acquired, was determined using the multi-period excess earnings method under the income approach at the acquisition date. The fair value measurements of intangible assets are based on significant unobservable inputs, and thus represent Level 3 inputs. Significant assumptions used in assessing the fair values of intangible assets include forecasted future cash flows and discount rates.

Goodwill was determined as the excess of the purchase price over the fair value of the net assets acquired and arises principally as a result of expansion opportunities and synergies across both new and legacy product categories. None of the goodwill recognized is expected to be deductible for income tax purposes. All of the goodwill was assigned to the Europe segment.

Chipita added incremental net revenues of $152 million and operating income of $4 million in the three months ended March 31, 2022. We incurred acquisition-related costs of $21 million and integration costs of $35 million in the three months ended March 31, 2022.

On November 1, 2021, we completed the sale of MaxFoods Pty Ltd, an Australian packaged seafood business that we had acquired as part of our acquisition of Gourmet Food Holdings Pty Ltd (“Gourmet Food”). The sales price was $57 million Australian dollars ($41 million), net of cash divested with the business, and we recorded an immaterial loss on the transaction.

On April 1, 2021, we acquired Gourmet Food, a leading Australian food company in the premium biscuit and cracker category, for closing cash consideration of approximately $450 million Australian dollars ($343 million), net of cash received. We have recorded a purchase price allocation of net tangible and intangible assets acquired and liabilities assumed of $41 million to indefinite-lived intangible assets, $80 million to definite-lived intangible assets, $164 million to goodwill, $19 million to property, plant and equipment, $18 million to inventory, $25 million to accounts receivable, $12 million to other assets, $5 million to operating right of use assets, $3 million to other current assets, $19 million to current liabilities and $5 million to long-term operating lease liabilities. The acquisition added incremental net revenues of $14 million, and operating income of $1 million in the three months ended March 31, 2022. We incurred acquisition-related costs of $1 million in the three months ended March 31, 2021.

On March 25, 2021, we acquired a majority interest in Lion/Gemstone Topco Ltd ("Grenade"), a performance nutrition leader in the United Kingdom, for closing cash consideration of £188 million ($261 million), net of cash received. The acquisition of Grenade expands our position into the premium nutrition segment. We have recorded a purchase price allocation of net tangible and intangible assets acquired and liabilities assumed of $82 million to indefinite-lived intangible assets, $28 million to definite-lived intangible assets, $181 million to goodwill, $1 million to property, plant and equipment, $11 million to inventory, $18 million to accounts receivable, $25 million to current liabilities, $20 million to deferred tax liabilities and $15 million to long-term other liabilities. Through the one-year anniversary of the acquisition, Grenade added incremental net revenues of $21 million, and operating income of $2 million in the three months ended March 31, 2022. We incurred acquisition-related costs of $2 million in the three months ended March 31, 2021.

On January 4, 2021, we acquired the remaining 93% of equity of Hu Master Holdings ("Hu"), a category leader in premium chocolate in the United States, which provides a strategic complement to our snacking portfolio in North America through growth opportunities in chocolate and other categories in the well-being category. The initial cash consideration paid was $229 million, net of cash received, and the Company may be required to pay additional contingent consideration. The estimated fair value of the contingent consideration obligation at the acquisition date was $132 million and was determined using a Monte Carlo simulation based on forecasted future results. As a result of acquiring the remaining equity interest, we consolidated the operations prospectively from the date of acquisition and recorded a pre-tax gain of $9 million ($7 million after-tax) related to stepping up our previously-held $8 million (7%) investment to fair value. We have recorded a purchase price allocation of net tangible and intangible assets acquired and liabilities assumed of $123 million to indefinite-lived intangible assets, $51 million to definite-lived intangible assets, $202 million to goodwill, $1 million to property, plant and equipment, $2 million to inventory, $4 million to accounts receivable, $5 million to current liabilities and $132 million to long-term other liabilities. We incurred acquisition-related costs of $4 million during the three months ended March 31, 2021.

Inventories

3 Months Ended

Mar. 31, 2022

Inventory Disclosure [Abstract]

Inventories

Note 3. Inventories

Inventories consisted of the following:


	As of March 31, 2022		As of December 31, 2021
	(in millions)
Raw materials	$	891	$	770
Finished product	2,093		2,054
	2,984		2,824
Inventory reserves	(146)		(116)
Inventories, net	$	2,838	$	2,708

Property, Plant and Equipment

3 Months Ended

Mar. 31, 2022

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 March 31, 2022		As of December 31, 2021
	(in millions)
Land and land improvements	$	405	$	379
Buildings and building improvements	3,322		3,139
Machinery and equipment	12,043		11,842
Construction in progress	669		732
	16,439		16,092
Accumulated depreciation	(7,424)		(7,434)
Property, plant and equipment, net	$	9,015	$	8,658

For the three months ended March 31, 2022, capital expenditures of $167 million excluded $244 million of accrued capital expenditures remaining unpaid at March 31, 2022 and included payment for a portion of the $249 million of capital expenditures that were accrued and unpaid at December 31, 2021. For the three months ended March 31, 2021, capital expenditures of $216 million excluded $230 million of accrued capital expenditures remaining unpaid at March 31, 2021 and included payment for a portion of the $275 million of capital expenditures that were accrued and unpaid at December 31, 2020.

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 March 31,
	2022		2021
	(in millions)
Latin America	$	—	$	—
AMEA	—		(16)
Europe	1		2
North America	1		54
Total	$	2	$	40

Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Note 5. Goodwill and Intangible Assets

Goodwill by segment was:


	As of March 31, 2022		As of December 31, 2021
	(in millions)
Latin America	$	738	$	674
AMEA	3,371		3,365
Europe	8,355		7,830
North America	10,154		10,109
Goodwill	$	22,618	$	21,978

Intangible assets consisted of the following:


	As of March 31, 2022		As of December 31, 2021
	(in millions)
Indefinite-life intangible assets	$	17,827	$	17,299
Definite-life intangible assets	3,025		2,991
	20,852		20,290
Accumulated amortization	(2,023)		(1,999)
Intangible assets, net	$	18,829	$	18,291

Indefinite-life 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. Definite-life intangible assets consist primarily of brands, customer-related intangibles, process technology, licenses and non-compete agreements.

Amortization expense for intangible assets was $32 million for the three months ended March 31, 2022 and $38 million for the three months ended March 31, 2021. For the next five years, we currently estimate annual amortization expense of approximately $130 million in 2022-2024, approximately $105 million in 2025 and approximately $65 million in 2026 (reflecting March 31, 2022 exchange rates).

Changes in goodwill and intangible assets consisted of:


	Goodwill		Intangible Assets, at cost
	(in millions)
Balance at January 1, 2022	$	21,978	$	20,290
Currency	(134)		(94)

Acquisitions	774		734
Asset impairments	—		(78)
Balance at March 31, 2022	$	22,618	$	20,852

Changes to goodwill and intangibles were:

•Acquisitions - In connection with our acquisition of Chipita during the first three months of 2022, we recorded a preliminary purchase price allocation of $774 million to goodwill and $734 million to intangible assets. See Note 2, Acquisitions and Divestitures, for additional information.

•Asset impairment - As further described below, during the first quarter of 2022, we recorded a $78 million intangible asset impairment in AMEA due to lower than expected growth and profitability of a local biscuit brand sold in select markets in AMEA and Europe.

During the first quarter of 2022, we evaluated our goodwill and intangible asset impairment risk through an assessment of potential triggering events. In light of the war in Ukraine and the overall global economic environment, we considered qualitative and quantitative information in our assessment of goodwill and indefinite-life intangible assets. Based on the financial performance of our goodwill reporting units, we concluded there were no impairment indicators for goodwill. Based on further quantitative analysis of our indefinite-life intangible assets, we concluded that a biscuit brand was impaired. During the first quarter of 2022, we recorded a $78 million impairment charge for the brand within asset impairment and exit costs and based on the excess carrying value over its estimated fair value. During our indefinite-life impairment testing, 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. During the first quarter of 2021, there were no impairments of goodwill or intangible assets. During our 2021 annual indefinite-life intangible asset testing in the third quarter of 2021, we identified eight brands, including the one brand impaired during the first quarter of 2022, that each had a fair value in excess of book value of 10% or less. The aggregate book value of the eight brands was $1,045 million as of March 31, 2022. We continue to monitor our brand performance, particularly in light of the significant global economic uncertainties and related impacts to our business. If a brand's earnings expectations, including the timing of the expected recovery from the war and the pandemic, 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	3 Months Ended
Equity Method Investments	Mar. 31, 2022
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. Our ownership interests may change over time due to investee stock-based compensation arrangements, share issuances or other equity-related transactions. As of March 31, 2022, we owned 22.7%, 5.3%, 50.0% and 49.0%, respectively, of these companies' outstanding shares. Our investments accounted for under the equity method of accounting totaled $5,255 million as of March 31, 2022 and $5,289 million as of December 31, 2021. We recorded equity earnings of $117 million and cash dividends of $107 million in the first quarter of 2022 and equity earnings of $78 million and cash dividends of $74 million in the first quarter of 2021. Based on the quoted closing prices as of March 31, 2022, the combined fair value of our publicly-traded investments in JDEP and KDP was $6.1 billion, and for each investment, its fair value exceeded its carrying value. On September 20, 2021, we issued €300 million exchangeable bonds, which are redeemable at maturity in September 2024 at their principal amount in cash or, at our option, through the delivery of an equivalent number of JDE Peet’s ordinary shares based on an initial exchange price of €35.40 and, as the case may be, an additional amount in cash. If all bonds were redeemed in exchange for JDE Peet's shares, this would represent approximately 8.5 million shares or approximately 7% of our equity interest in JDE Peet's. Refer to Note 9, Debt and Borrowing Arrangements, for further details on this transaction.

Restructuring Program

3 Months Ended

Mar. 31, 2022

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. On October 21, 2021, our Board of Directors approved an extension of the restructuring program through 2023. 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 $5.1 billion related to the Simplify to Grow Program. We expect to incur the remainder of the program charges by year-end 2023.

Restructuring Costs:

The Simplify to Grow Program liability activity for the three months ended March 31, 2022 was:


	Severance and related costs		Asset Write-downs		Total
	(in millions)
Liability balance, January 1, 2022	$	211	$	—	$	211
Charges	9		2		11
Cash spent	(17)		—		(17)
Non-cash settlements/adjustments	—		(2)		(2)
Currency	(1)		—		(1)
Liability balance, March 31, 2022	$	202	$	—	$	202

•We recorded restructuring charges of $11 million in the first quarter of 2022 and $88 million in the first quarter of 2021 within asset impairment and exit costs and benefit plan non-service income.

•We spent $17 million in the first quarter of 2022 and $34 million in the first quarter of 2021 in cash severance and related costs.

•We recognized non-cash asset write-downs (including accelerated depreciation and asset impairments), and other adjustments, including any gains on sale of restructuring program assets, which totaled $2 million in the first quarter of 2022 and $40 million in the first quarter of 2021.

•At March 31, 2022, $172 million of our net restructuring liability was recorded within other current liabilities and $30 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 $20 million in the first quarter of 2022 and $34 million in the first quarter of 2021. 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 months ended March 31, 2022 and March 31, 2021, 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 March 31, 2022
Restructuring Costs	$	(1)	$	2	$	2	$	8	$	—	$	11
Implementation Costs	1		1		5		7		6		20
Total	$	—	$	3	$	7	$	15	$	6	$	31
For the Three Months Ended March 31, 2021
Restructuring Costs	$	3	$	(21)	$	6	$	101	$	(1)	$	88
Implementation Costs	3		2		10		10		9		34
Total	$	6	$	(19)	$	16	$	111	$	8	$	122








Total Project (Inception to Date)
Restructuring Costs	$	553	$	543	$	1,149	$	653	$	149	$	3,047
Implementation Costs	297		240		549		560		362		2,008
Total	$	850	$	783	$	1,698	$	1,213	$	511	$	5,055

Debt and Borrowing Arrangements

3 Months Ended

Mar. 31, 2022

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 March 31, 2022				As of December 31, 2021
	Amount Outstanding		Weighted- Average Rate		Amount Outstanding		Weighted- Average Rate
	(in millions, except percentages)
Commercial paper	$	463	0.9	%	$	192	0.2	%
Bank loans	143		3.5	%	24		8.6	%
Total short-term borrowings	$	606			$	216

Our uncommitted credit lines and committed credit lines available as of March 31, 2022 and December 31, 2021 include:


	As of March 31, 2022				As of December 31, 2021
	Facility Amount		Borrowed Amount		Facility Amount		Borrowed Amount
	(in millions)
Uncommitted credit facilities	$	1,435	$	143	$	1,367	$	24
Credit facility expiry(1):
November 30, 2022(2)	2,000		—		—		—
February 23, 2022	—		—		2,500		—
February 22, 2023	2,500		—		—		—
February 27, 2024	—		—		4,500		—
February 23, 2027	4,500		—		—		—

(1) We maintain a multi-year senior unsecured revolving credit facility for general corporate purposes, including working capital needs, and to support our commercial paper program. The revolving credit agreement includes a covenant that we maintain a minimum shareholders' equity of at least $25.0 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 March 31, 2022, we complied with this covenant as our shareholders' equity, as defined by the covenant, was $38.6 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.

(2) On March 31, 2022, we entered into a supplemental term loan credit facility that can be utilized for general corporate purposes, including acquisitions. Under this agreement we may draw up to a total of $2.0 billion in term loans from the facility. The maturity dates of any loans drawn under this facility will be three years after the funding date of the applicable loan(s).

Long-Term Debt:

Tender Offers:

On March 18, 2022, we completed a tender offer in cash and redeemed long term U.S. dollar denominated notes for the following amounts (in millions):


Interest Rate	Redemption Date	Maturity Date	Amount Redeemed	USD Equivalent
3.625%	March 2022	February 2026	$130	$130
4.125%	March 2022	May 2028	$211	$211
2.750%	March 2022	April 2030	$500	$500
6.500%	March 2022	November 2031	$17	$17
7.000%	March 2022	August 2037	$10	$10
6.875%	March 2022	February 2038	$21	$21
6.875%	March 2022	January 2039	$8	$8
6.500%	March 2022	February 2040	$36	$36
4.625%	March 2022	May 2048	$54	$54

We recorded a $129 million loss on debt extinguishment and related expenses within interest and other expense, net, consisting of $38 million paid in excess of carrying value of the debt and from recognizing unamortized discounts and deferred financing costs in earnings and $91 million from recognizing unamortized forward starting swap losses in earnings at the time of the debt extinguishment. The cash payments related to the debt extinguishment were classified as cash outflows from financing activities in the consolidated statement of cash flows.

Redemptions:

On March 18, 2022, we completed a redemption of long term U.S. dollar denominated notes for the following amounts (in millions):

Interest Rate

Redemption Date

Maturity Date

Amount Redeemed

USD Equivalent

0.625%

March 2022

July 2022

$1,000

Debt Repayments

On January 3, 2022, we closed on our acquisition of Chipita and assumed and entirely paid down €0.4 billion ($0.4 billion) of Chipita's debt during the three months ended March 31, 2022.

Issuances:

During the three months ended March 31, 2022, we issued the following notes (in millions):


Issuance Date	Interest Rate	Maturity Date	Gross Proceeds (1)	Gross Proceeds USD Equivalent
March 2022	2.125%	March 2024	$500	$500
March 2022	2.625%	March 2027	$750	$750
March 2022	3.000%	March 2032	$750	$750

(1) Represents gross proceeds from the issuance of notes excluding debt issuance costs, discounts and premiums.

Fair Value of Our Debt:

The fair value of our short-term borrowings at March 31, 2022 and December 31, 2021 reflects current market interest rates and approximates the amounts we have recorded on our consolidated balance sheets. The fair value of our long-term debt was determined using quoted prices in active markets (Level 1 valuation data) for the publicly traded debt obligations.


	As of March 31, 2022		As of December 31, 2021
	(in millions)
Fair Value	$	19,009	$	20,249
Carrying Value	$	19,704	$	19,512

Interest and Other Expense, net:

Interest and other expense, net consisted of:


	For the Three Months Ended March 31,
	2022		2021
	(in millions)
Interest expense, debt	$	91	$	98
Loss on debt extinguishment and related expenses	129		137
Other (income)/expense, net	(52)		(17)
Interest and other expense, net	$	168	$	218

Other income includes amounts excluded from hedge effectiveness related to our net investment hedge derivative contracts that totaled $22 million in the three months ended March 31, 2022 and $20 million in the three months ended March 31, 2021.

Early settlement of forecasted currency exchange contracts comprise $20 million in other (income)/expense, net due to changes in related forecasted future cash flows in the three months ended March 31, 2022. Refer to Note 9, Financial Instruments.

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

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI http://asc.fasb.org/topic&trid=2208564

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (h)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (g)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1E
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495348-112611

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (i)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Financial Instruments

3 Months Ended

Mar. 31, 2022

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 March 31, 2022				As of December 31, 2021
	Asset Derivatives		Liability Derivatives		Asset Derivatives		Liability Derivatives
	(in millions)
Derivatives designated as accounting hedges:
Currency exchange contracts	$	1	$	3	$	—	$	—
Interest rate contracts	27		3		27		17
Net investment hedge derivative contracts (1)	137		51		117		45
	$	165	$	57	$	144	$	62
Derivatives not designated as accounting hedges:
Currency exchange contracts	$	135	$	124	$	156	$	40
Commodity contracts	589		220		387		137
Equity method investment contracts(2)	—		3		—		3
	$	724	$	347	$	543	$	180
Total fair value	$	889	$	404	$	687	$	242

(1)Net investment hedge derivative contracts consist of cross-currency interest rate swaps, forward contracts and options. 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.

(2)Equity method investment contracts consist of the bifurcated embedded derivative option that was a component of the September 20, 2021 €300 million exchangeable bonds issuance. Refer to Note 8, Debt and Borrowing Arrangements.

Derivatives designated as accounting hedges include cash flow and net investment hedge derivative contracts. Our currency exchange, commodity derivative and equity method investment 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 other assets and the fair value of our liability derivatives is recorded within other current liabilities and other liabilities.

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


	As of March 31, 2022
	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	$	9	$	—	$	9	$	—
Commodity contracts	369		213		156		—
Interest rate contracts	24		—		24		—
Net investment hedge contracts	86		—		86		—
Equity method investment contracts	(3)		—		(3)		—
Total derivatives	$	485	$	213	$	272	$	—


	As of December 31, 2021
	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	$	116	$	—	$	116	$	—
Commodity contracts	251		161		90		—
Interest rate contracts	10		—		10		—
Net investment hedge contracts	71		—		71		—
Equity method investment contracts	(3)		—		(3)		—
Total derivatives	$	445	$	161	$	284	$	—

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; net investment hedge contracts; 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 bifurcated exchange options are valued, as derivative instrument liabilities, using the Black-Scholes option pricing model. This model requires assumptions related to the market price of the underlying note and associated credit spread combined with the share of price, expected dividend yield, and expected volatility of the JDE Peet’s shares over the life of the option. 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 March 31, 2022		As of December 31, 2021
	(in millions)
Currency exchange contracts:
Intercompany loans and forecasted interest payments	$	3,073	$	1,891
Forecasted transactions	4,822		4,831
Commodity contracts	10,281		9,694
Interest rate contracts	1,850		1,850
Net investment hedges:
Net investment hedge derivative contracts	7,306		3,915
Non-U.S. dollar debt designated as net investment hedges
Euro notes	3,525		3,622
British pound sterling notes	346		356
Swiss franc notes	802		811
Canadian dollar notes	480		475

Cash Flow Hedges:

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


	For the Three Months Ended March 31,
	2022		2021
	(in millions)
Accumulated (loss)/gain at beginning of period	$	(148)	$	(161)
Transfer of realized losses/(gains) in fair value to earnings	25		5
Unrealized (loss)/gain in fair value	27		(3)
Accumulated (loss)/gain at end of period	$	(96)	$	(159)

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


	For the Three Months Ended March 31,
	2022		2021
	(in millions)
Currency exchange contracts – forecasted transactions	$	(2)	$	—
Interest rate contracts	(23)		(5)
Total	$	(25)	$	(5)

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


	For the Three Months Ended March 31,
	2022		2021
	(in millions)
Currency exchange contracts – forecasted transactions	$	2	$	(1)
Interest rate contracts	25		(2)
Total	$	27	$	(3)

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 $9 million (net of taxes) for interest rate cash flow hedges to earnings during the next 12 months.

Cash Flow Hedge Coverage:

As of March 31, 2022, our longest dated cash flow hedges were interest rate swaps that hedge forecasted interest rate payments over the next 4 years, 5 months.

Hedges of Net Investments in International Operations:

Net investment hedge ("NIH") derivative contracts:

We enter into cross-currency interest rate swaps, forwards and options to hedge certain investments in our non-U.S. operations against movements in exchange rates. The aggregate notional value as of March 31, 2022 was $7.3 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 March 31,
	2022		2021
	(in millions)
After-tax gain/(loss) on NIH contracts(1)	$	41	$	59

(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 March 31,
	2022		2021
	(in millions)
Amounts excluded from the assessment of hedge effectiveness(1)	$	22	$	20

(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 March 31,
	2022		2021
	(in millions)
Euro notes	$	74	$	124
British pound sterling notes	8		(2)
Swiss franc notes	6		56
Canadian notes	(4)		(5)

Economic Hedges:

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


	For the Three Months Ended March 31,				Location of Gain/(Loss) Recognized in Earnings
	2022		2021
	(in millions)
Currency exchange contracts:
Intercompany loans and forecasted interest payments	$	(11)	$	70		Interest and other expense, net
Forecasted transactions	(7)		50			Cost of sales
Forecasted transactions	21		(16)			Interest and other expense, net
Forecasted transactions	2		2			Selling, general and administrative expenses
Commodity contracts	237		94			Cost of sales
Equity method investment contracts	—		—			Gain on equity method investment transactions
Total	$	242	$	200

Early settlement of forecasted currency exchange contracts comprise $74 million in cost of sales, $5 million in selling, general and administrative expenses and $20 million in interest and other expense, net in the three months ended March 31, 2022.

Benefit Plans

3 Months Ended

Mar. 31, 2022

Retirement Benefits [Abstract]

Benefit Plans

Note 10. Benefit Plans

Pension Plans

Components of Net Periodic Pension Cost:

Net periodic pension cost/(benefit) consisted of the following:


	U.S. Plans				Non-U.S. Plans
	For the Three Months Ended March 31,				For the Three Months Ended March 31,
	2022		2021		2022		2021
	(in millions)
Service cost	$	1	$	2	$	39	$	35
Interest cost	11		10		41		29
Expected return on plan assets	(18)		(18)		(93)		(106)
Amortization:
Net loss from experience differences	3		4		19		33
Prior service cost/(benefit)	—		—		(1)		(2)
Settlement losses and other expenses	3		3		—		—
Net periodic pension cost/(benefit)	$	—	$	1	$	5	$	(11)

Employer Contributions:

During the three months ended March 31, 2022, we contributed less than $1 million to our U.S. pension plans and $64 million to our non-U.S. pension plans, including $25 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 March 31, 2022, over the remainder of 2022, we plan to make further contributions of approximately $3 million to our U.S. plans and approximately $121 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. In connection with the discounted long-term liability, we recorded accreted interest of $3 million in the three months ended March 31, 2022 and $3 million in the three months ended March 31, 2021 within interest and other expense, net. As of March 31, 2022, the remaining discounted withdrawal liability was $356 million, with $15 million recorded in other current liabilities and $341 million recorded in long-term other liabilities.

Postretirement Benefit Plans

Net periodic postretirement health care cost/(benefit) consisted of the following:


	For the Three Months Ended March 31,
	2022		2021
	(in millions)
Service cost	$	1	$	1
Interest cost	2		2
Amortization:
Net loss from experience differences	—		1
Prior service credit	—		—
Net periodic postretirement health care cost/(benefit)	$	3	$	4

Postemployment Benefit Plans

Net periodic postemployment cost consisted of the following:


	For the Three Months Ended March 31,
	2022		2021
	(in millions)
Service cost	$	1	$	1
Interest cost	1		1
Amortization of net gains	(1)		(1)
Net periodic postemployment cost	$	1	$	1

The entire disclosure for retirement benefits.

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 55
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=123450688&loc=d3e4179-114921

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section S99
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=21916913&loc=d3e273930-122802

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (o)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (p)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 70
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=49170846&loc=d3e28014-114942

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-URI http://asc.fasb.org/topic&trid=2235017

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 60
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6414203&loc=d3e39689-114964

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(03)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (q)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (r)(1)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(iii)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (l)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (r)(2)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Share-based Payment Arrangement [Abstract]

Stock Plans

3 Months Ended

Mar. 31, 2022

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, 2022	23,503,759	$42.65	5 years	$	556	million
Annual grant to eligible employees	2,180,540	64.65
Additional options issued	1,710	65.97
Total options granted	2,182,250	64.65
Options exercised (1)	(2,329,139)	34.61		$	74	million
Options canceled	(208,761)	53.50
Balance at March 31, 2022	23,148,109	45.43	6 years	$	406	million

(1)Cash received from options exercised was $70 million in the three months ended March 31, 2022. The actual tax benefit realized and recorded in the provision for income taxes for the tax deductions from the option exercises totaled $10 million in the three months ended March 31, 2022.

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, 2022	4,668,046		$57.04
Annual grant to eligible employees:		Feb 24, 2022
Performance share units	806,590		61.87
Deferred stock units	505,090		64.65
Additional shares granted (1)	653,365	Various	60.17
Total shares granted	1,965,045		62.02	$	122	million
Vested (2)	(1,670,302)		55.34	$	92	million
Forfeited	(187,367)		61.42
Balance at March 31, 2022	4,775,422		59.51

(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 $5 million in the three months ended March 31, 2022.

(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. On December 2, 2020, our Board of Directors approved an increase of $4.0 billion in the share repurchase program, raising the authorization to $23.7 billion of Common Stock repurchases, and extended the program through December 31, 2023. Repurchases under the program are determined by management and are wholly discretionary. Prior to January 1, 2022, we had repurchased approximately $20.0 billion of Common Stock pursuant to this authorization. During the three months ended March 31, 2022, we repurchased approximately 11 million shares of Common Stock at an average cost of $65.96 per share, or an aggregate cost of approximately $0.8 billion, all of which was paid during the period. All share repurchases were funded through available cash and commercial paper issuances. As of March 31, 2022, we have approximately $2.9 billion in remaining share repurchase capacity.

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2022
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 monetary damages, interest and unjust enrichment; costs and fees; and injunctive, declaratory and other unspecified relief. In June 2015, these suits were consolidated in the District Court. On January 3, 2020, the District Court granted plaintiffs' request to certify a class. 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 and the class 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. On January 28, 2021, the European Commission announced it has taken the next procedural step in its investigation and opened formal proceedings. We are cooperating with the investigation and expect to continue to engage with the European Commission as its 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 March 31, 2022, 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

3 Months Ended

Mar. 31, 2022

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 $42 million in the first quarter of 2022 and $34 million in the first quarter of 2021.


	For the Three Months Ended March 31,
	2022		2021
	(in millions)
Currency Translation Adjustments:
Balance at beginning of period	$	(9,097)	$	(8,655)
Currency translation adjustments	6		(134)


Tax (expense)/benefit	44		(2)
Other comprehensive earnings/(losses)	50		(136)
Less: other comprehensive (earnings)/loss attributable to noncontrolling interests	4		9
Balance at end of period	(9,043)		(8,782)
Pension and Other Benefit Plans:
Balance at beginning of period	$	(1,379)	$	(1,874)
Net actuarial gain/(loss) arising during period	44		(1)
Tax (expense)/benefit on net actuarial gain/(loss)	—		—
Losses/(gains) reclassified into net earnings:
Amortization of experience losses and prior service costs (2)	20		35
Settlement losses and other expenses (2)	3		3

Tax expense/(benefit) on reclassifications (3)	(6)		(9)
Currency impact	32		41
Other comprehensive earnings/(losses)	93		69
Balance at end of period	(1,286)		(1,805)
Derivative Cash Flow Hedges:
Balance at beginning of period	$	(148)	$	(161)
Net derivative gains/(losses)	26		(7)
Tax (expense)/benefit on net derivative gain/(loss)	(1)		1
Losses/(gains) reclassified into net earnings:
Interest rate contracts (2)(4)	48		6
Tax expense/(benefit) on reclassifications (3)	(23)		(1)
Currency impact	2		3
Other comprehensive earnings/(losses)	52		2
Balance at end of period	(96)		(159)
Accumulated other comprehensive income attributable to Mondelēz International:
Balance at beginning of period	$	(10,624)	$	(10,690)
Total other comprehensive earnings/(losses)	195		(65)
Less: other comprehensive (earnings)/loss attributable to noncontrolling interests	4		9
Other comprehensive earnings/(losses) attributable to Mondelēz International	199		(56)
Balance at end of period	$	(10,425)	$	(10,746)

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

(2)These amounts include equity method investment transactions recorded within gain on equity method investment transactions.

(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	3 Months Ended
Income Taxes	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Note 14. Income Taxes As of the first quarter of 2022, our estimated annual effective tax rate, which excludes discrete tax impacts, was 24.8%. 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. The estimated annual effective tax rate also considers the impact of the establishment of a valuation allowance related to a deferred tax asset arising from the anticipated 2022 Ukraine loss. Our effective tax rate for the three months ended March 31, 2022 of 21.9% was favorably impacted by discrete net tax benefits of $62 million primarily driven by the Chipita acquisition, which resulted in the release of a portion of the valuation allowance recorded against the deferred tax asset for the step-up of intangible assets in Switzerland. As of the first quarter of 2021, our estimated annual effective tax rate, which excluded discrete tax impacts, was 25.2%. 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 effective tax rate for the three months ended March 31, 2021 of 19.1% was favorably impacted by discrete net tax benefits of $65 million, primarily driven by a $32 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 and a $27 million benefit from a U.S. amended tax return filed to reflect new guidance from the U.S. Treasury Department.

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.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI http://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Earnings per Share

3 Months Ended

Mar. 31, 2022

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 March 31,
	2022		2021
	(in millions, except per share data)
Net earnings	$	861	$	968
Noncontrolling interest earnings	(6)		(7)
Net earnings attributable to Mondelēz International	$	855	$	961
Weighted-average shares for basic EPS	1,389		1,412
Plus incremental shares from assumed conversions of stock options and long-term incentive plan shares	9		10
Weighted-average shares for diluted EPS	1,398		1,422
Basic earnings per share attributable to Mondelēz International	$	0.62	$	0.68
Diluted earnings per share attributable to Mondelēz International	$	0.61	$	0.68

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 2.1 million in the first three months of 2022 and 3.6 million in the first three months of 2021.

Segment Reporting

3 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

Segment Reporting

Note 16. Segment Reporting

We manufacture and market primarily snack food products, including biscuits, 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 March 31,
	2022		2021
	(in millions)
Net revenues:
Latin America	$	826	$	669
AMEA	1,867		1,745
Europe	2,935		2,847
North America	2,136		1,977
Net revenues	$	7,764	$	7,238
Earnings before income taxes:
Operating income:
Latin America	$	103	$	76
AMEA	272		362
Europe	377		557
North America	418		270
Unrealized gains/(losses) on hedging activities (mark-to-market impacts)	27		118
General corporate expenses	(50)		(64)
Amortization of intangible assets	(32)		(38)
Gain on acquisition	—		9
Acquisition-related costs	(21)		(7)
Operating income	1,094		1,283
Benefit plan non-service income	33		44
Interest and other expense, net	(168)		(218)
Earnings before income taxes	$	959	$	1,109

Items impacting our segment operating results are discussed in Note 1, Basis of Presentation, Note 2, Acquisitions and Divestitures, Note 3, Inventories, 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 March 31, 2022
	Latin America		AMEA		Europe		North America		Total
	(in millions)
Biscuits	$	224	$	657	$	951	$	1,799	$	3,631
Chocolate	248		706		1,512		77		2,543
Gum & Candy	172		203		152		260		787
Beverages	102		197		32		—		331
Cheese & Grocery	80		104		288		—		472
Total net revenues	$	826	$	1,867	$	2,935	$	2,136	$	7,764

	Three Months Ended March 31, 2021 (1)
	Latin America		AMEA		Europe		North America		Total
	(in millions)
Biscuits	$	177	$	583	$	810	$	1,736	$	3,306
Chocolate	192		670		1,544		63		2,469
Gum & Candy	131		194		148		178		651
Beverages	94		180		33		—		307
Cheese & Grocery	75		118		312		—		505
Total net revenues	$	669	$	1,745	$	2,847	$	1,977	$	7,238

(1) Our snack product categories include biscuits, chocolate and gum & candy. During 2022, we realigned some of our products between our biscuits and chocolate categories; as such, we reclassified the product category net revenues on a basis consistent with the 2022 presentation.

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.

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=123359005&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=123359005&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

Basis of Presentation (Policies)	3 Months Ended
Basis of Presentation (Policies)	Mar. 31, 2022
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, 2021.
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 as there are no readily determinable fair values for the equity interests, these investments are carried at cost with changes in the investment recognized to the extent cash is received.
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 currency 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. Local currency monetary assets and liabilities are remeasured into U.S. dollars using exchange rates as of the latest balance sheet date, with remeasurement gains and losses recognized in net earnings. Türkiye. During the first quarter of 2022, primarily based on data published by the Türkiye Statistical Institute that indicated that Türkiye's three-year cumulative inflation rate exceeded 100%, we concluded that Türkiye became a highly inflationary economy for accounting purposes. As of April 1, 2022, we expect to apply highly inflationary accounting for our subsidiaries operating in Türkiye and change their functional currency from the Turkish lira to the U.S. dollar. Our operations in Türkiye contributed $43 million, or 0.6% of our condensed consolidated net revenues in the three months ended March 31, 2022. Based on a review of our Turkish lira-denominated monetary assets and liabilities, our operations in Türkiye had an immaterial net monetary liability position as of March 31, 2022. 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 Argentinean subsidiaries and changed their functional currency from the Argentinean peso to the U.S. dollar. Our operations in Argentina contributed $129 million, or 1.7% of our condensed consolidated net revenues in the three months ended March 31, 2022. As of March 31, 2022, our Argentinean operations had $26 million of Argentinean peso denominated net monetary assets. Within selling, general and administrative expenses, we recorded a remeasurement loss of $5 million during the three months ended March 31, 2022 related to the revaluation of the Argentinean peso denominated net monetary position over these periods. 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 potential exposures. We continue to monitor the developments in Ukraine and Russia as well as in the ongoing COVID-19 global pandemic and related impacts to our business operations, currencies and net monetary exposures. Since the global onset of COVID-19 in early 2020, most countries in which we do business experienced periods of significant economic uncertainty as well as exchange rate volatility. At this time, within our consolidated entities, Argentina and Türkiye are or will be accounted for as highly inflationary economies as noted above, and we continue to monitor currency volatility and associated risks, including highly inflationary economies.
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 $887 million as of March 31, 2022 and $761 million as of December 31, 2021. 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 October 2021, the Financial Accounting Standards Board (“FASB”) issued an Accounting Standards Update (“ASU”) which requires companies to recognize and measure customer contract assets and contract liabilities acquired in a business combination as if the acquiring company originated the related revenue contracts. Prior to adopting this ASU, acquired contract assets and liabilities were measured at fair value. This ASU is effective for fiscal years beginning after December 15, 2022 and early adoption is permitted. We are evaluating the timing and effects of adopting this ASU and currently we do not expect this ASU to have a material impact on our consolidated financial statements. In March 2020 and subsequently in January 2021, the FASB issued an ASU to provide optional accounting guidance for a limited period of time to ease the potential burden in accounting for reference rate reform. The guidance provides optional expedients and exceptions to existing accounting requirements for contract modifications and hedge accounting related to transitioning from discontinued reference rates, such as LIBOR, to alternative reference rates, if certain criteria are met. The new accounting requirements can be applied as of the beginning of the interim period including March 12, 2020, or any date thereafter, through December 31, 2022. We expect to adopt this standard in the fourth quarter of 2022. Based on our evaluation of our contracts to date, we do not expect this ASU to have a material impact on our consolidated financial statements.

Schedule of Changes in Allowances for Credit Losses

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 (Tables)

3 Months Ended

Mar. 31, 2022

Accounting Policies [Abstract]

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, 2022	$	(37)	$	(49)	$	(10)
Current period provision for expected credit losses	(19)		(2)		(5)
Write-offs charged against the allowance	3		—		—

Currency	(2)		3		(2)
Balance at March 31, 2022	$	(55)	$	(48)	$	(17)

Acquisitions and Divestitures (Tables)

3 Months Ended

Mar. 31, 2022

Business Combination and Asset Acquisition [Abstract]

Schedule of Purchase Price Allocation of Net Tangible and Intangible Assets Acquired and Liabilities Assumed

We are working to complete the valuation and have recorded a preliminary purchase price allocation of:


	(in millions)
Cash	$	52
Receivables	102
Inventory	62
Other current assets	4
Property, plant and equipment	406
Finance leases right of use assets	8
Definite life intangible assets	48
Indefinite life intangible assets	686
Goodwill	774
Other assets	79
Assets acquired	$	2,221
Current liabilities	131
Deferred tax liability	155
Finance lease liabilities	8
Other liabilities	21
Total purchase price	$	1,906
Less: long-term debt	(436)
Less: cash received	(52)
Net Cash Paid	$	1,418

Inventories (Tables)

3 Months Ended

Mar. 31, 2022

Inventory Disclosure [Abstract]

Schedule of Components of Inventories

Inventories consisted of the following:


	As of March 31, 2022		As of December 31, 2021
	(in millions)
Raw materials	$	891	$	770
Finished product	2,093		2,054
	2,984		2,824
Inventory reserves	(146)		(116)
Inventories, net	$	2,838	$	2,708

Property, Plant and Equipment (Tables)

3 Months Ended

Mar. 31, 2022

Property, Plant and Equipment [Abstract]

Schedule of Components of Property, Plant and Equipment

Property, plant and equipment consisted of the following:


	As of March 31, 2022		As of December 31, 2021
	(in millions)
Land and land improvements	$	405	$	379
Buildings and building improvements	3,322		3,139
Machinery and equipment	12,043		11,842
Construction in progress	669		732
	16,439		16,092
Accumulated depreciation	(7,424)		(7,434)
Property, plant and equipment, net	$	9,015	$	8,658

Schedule of Restructuring Charges Related to Property, Plant and Equipment


	For the Three Months Ended March 31,
	2022		2021
	(in millions)
Latin America	$	—	$	—
AMEA	—		(16)
Europe	1		2
North America	1		54
Total	$	2	$	40


	Latin America		AMEA		Europe		North America		Corporate		Total
	(in millions)
For the Three Months Ended March 31, 2022
Restructuring Costs	$	(1)	$	2	$	2	$	8	$	—	$	11
Implementation Costs	1		1		5		7		6		20
Total	$	—	$	3	$	7	$	15	$	6	$	31
For the Three Months Ended March 31, 2021
Restructuring Costs	$	3	$	(21)	$	6	$	101	$	(1)	$	88
Implementation Costs	3		2		10		10		9		34
Total	$	6	$	(19)	$	16	$	111	$	8	$	122








Total Project (Inception to Date)
Restructuring Costs	$	553	$	543	$	1,149	$	653	$	149	$	3,047
Implementation Costs	297		240		549		560		362		2,008
Total	$	850	$	783	$	1,698	$	1,213	$	511	$	5,055

Goodwill and Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill by Segment

Goodwill by segment was:


	As of March 31, 2022		As of December 31, 2021
	(in millions)
Latin America	$	738	$	674
AMEA	3,371		3,365
Europe	8,355		7,830
North America	10,154		10,109
Goodwill	$	22,618	$	21,978

Schedule of Intangible Assets Disclosure

Intangible assets consisted of the following:


	As of March 31, 2022		As of December 31, 2021
	(in millions)
Indefinite-life intangible assets	$	17,827	$	17,299
Definite-life intangible assets	3,025		2,991
	20,852		20,290
Accumulated amortization	(2,023)		(1,999)
Intangible assets, net	$	18,829	$	18,291

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, 2022	$	21,978	$	20,290
Currency	(134)		(94)

Acquisitions	774		734
Asset impairments	—		(78)
Balance at March 31, 2022	$	22,618	$	20,852

Restructuring Program (Tables)

3 Months Ended

Mar. 31, 2022

Restructuring and Related Activities [Abstract]

Schedule of Restructuring Program Liability

The Simplify to Grow Program liability activity for the three months ended March 31, 2022 was:


	Severance and related costs		Asset Write-downs		Total
	(in millions)
Liability balance, January 1, 2022	$	211	$	—	$	211
Charges	9		2		11
Cash spent	(17)		—		(17)
Non-cash settlements/adjustments	—		(2)		(2)
Currency	(1)		—		(1)
Liability balance, March 31, 2022	$	202	$	—	$	202

Schedule of Restructuring and Implementation Costs by Segment


	For the Three Months Ended March 31,
	2022		2021
	(in millions)
Latin America	$	—	$	—
AMEA	—		(16)
Europe	1		2
North America	1		54
Total	$	2	$	40


	Latin America		AMEA		Europe		North America		Corporate		Total
	(in millions)
For the Three Months Ended March 31, 2022
Restructuring Costs	$	(1)	$	2	$	2	$	8	$	—	$	11
Implementation Costs	1		1		5		7		6		20
Total	$	—	$	3	$	7	$	15	$	6	$	31
For the Three Months Ended March 31, 2021
Restructuring Costs	$	3	$	(21)	$	6	$	101	$	(1)	$	88
Implementation Costs	3		2		10		10		9		34
Total	$	6	$	(19)	$	16	$	111	$	8	$	122








Total Project (Inception to Date)
Restructuring Costs	$	553	$	543	$	1,149	$	653	$	149	$	3,047
Implementation Costs	297		240		549		560		362		2,008
Total	$	850	$	783	$	1,698	$	1,213	$	511	$	5,055

Debt and Borrowing Arrangements (Tables)

3 Months Ended

Mar. 31, 2022

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 March 31, 2022				As of December 31, 2021
	Amount Outstanding		Weighted- Average Rate		Amount Outstanding		Weighted- Average Rate
	(in millions, except percentages)
Commercial paper	$	463	0.9	%	$	192	0.2	%
Bank loans	143		3.5	%	24		8.6	%
Total short-term borrowings	$	606			$	216

Schedule of Uncommitted and Committed Credit Lines Available

Our uncommitted credit lines and committed credit lines available as of March 31, 2022 and December 31, 2021 include:


	As of March 31, 2022				As of December 31, 2021
	Facility Amount		Borrowed Amount		Facility Amount		Borrowed Amount
	(in millions)
Uncommitted credit facilities	$	1,435	$	143	$	1,367	$	24
Credit facility expiry(1):
November 30, 2022(2)	2,000		—		—		—
February 23, 2022	—		—		2,500		—
February 22, 2023	2,500		—		—		—
February 27, 2024	—		—		4,500		—
February 23, 2027	4,500		—		—		—

Schedule of Debt Redemptions


Interest Rate	Redemption Date	Maturity Date	Amount Redeemed	USD Equivalent
3.625%	March 2022	February 2026	$130	$130
4.125%	March 2022	May 2028	$211	$211
2.750%	March 2022	April 2030	$500	$500
6.500%	March 2022	November 2031	$17	$17
7.000%	March 2022	August 2037	$10	$10
6.875%	March 2022	February 2038	$21	$21
6.875%	March 2022	January 2039	$8	$8
6.500%	March 2022	February 2040	$36	$36
4.625%	March 2022	May 2048	$54	$54

Schedule of Debt Repayments

On March 18, 2022, we completed a redemption of long term U.S. dollar denominated notes for the following amounts (in millions):

Interest Rate

Redemption Date

Maturity Date

Amount Redeemed

USD Equivalent

0.625%

March 2022

July 2022

$1,000

Schedule of Debt Issuances

During the three months ended March 31, 2022, we issued the following notes (in millions):


Issuance Date	Interest Rate	Maturity Date	Gross Proceeds (1)	Gross Proceeds USD Equivalent
March 2022	2.125%	March 2024	$500	$500
March 2022	2.625%	March 2027	$750	$750
March 2022	3.000%	March 2032	$750	$750

(1) Represents gross proceeds from the issuance of notes excluding debt issuance costs, discounts and premiums.

Schedule of Fair Value of Debt


	As of March 31, 2022		As of December 31, 2021
	(in millions)
Fair Value	$	19,009	$	20,249
Carrying Value	$	19,704	$	19,512

Schedule of Interest and Other Expense

Interest and other expense, net consisted of:


	For the Three Months Ended March 31,
	2022		2021
	(in millions)
Interest expense, debt	$	91	$	98
Loss on debt extinguishment and related expenses	129		137
Other (income)/expense, net	(52)		(17)
Interest and other expense, net	$	168	$	218

Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2022

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Schedule of Effects of Derivative Instruments

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


	For the Three Months Ended March 31,				Location of Gain/(Loss) Recognized in Earnings
	2022		2021
	(in millions)
Currency exchange contracts:
Intercompany loans and forecasted interest payments	$	(11)	$	70		Interest and other expense, net
Forecasted transactions	(7)		50			Cost of sales
Forecasted transactions	21		(16)			Interest and other expense, net
Forecasted transactions	2		2			Selling, general and administrative expenses
Commodity contracts	237		94			Cost of sales
Equity method investment contracts	—		—			Gain on equity method investment transactions
Total	$	242	$	200

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 March 31,
	2022		2021
	(in millions)
Accumulated (loss)/gain at beginning of period	$	(148)	$	(161)
Transfer of realized losses/(gains) in fair value to earnings	25		5
Unrealized (loss)/gain in fair value	27		(3)
Accumulated (loss)/gain at end of period	$	(96)	$	(159)

Schedule of Effects of Derivative Instruments

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


	For the Three Months Ended March 31,
	2022		2021
	(in millions)
Currency exchange contracts – forecasted transactions	$	(2)	$	—
Interest rate contracts	(23)		(5)
Total	$	(25)	$	(5)

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


	For the Three Months Ended March 31,
	2022		2021
	(in millions)
Currency exchange contracts – forecasted transactions	$	2	$	(1)
Interest rate contracts	25		(2)
Total	$	27	$	(3)

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 March 31,
	2022		2021
	(in millions)
After-tax gain/(loss) on NIH contracts(1)	$	41	$	59


	For the Three Months Ended March 31,
	2022		2021
	(in millions)
Amounts excluded from the assessment of hedge effectiveness(1)	$	22	$	20

(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 March 31,
	2022		2021
	(in millions)
Euro notes	$	74	$	124
British pound sterling notes	8		(2)
Swiss franc notes	6		56
Canadian notes	(4)		(5)

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 March 31, 2022				As of December 31, 2021
	Asset Derivatives		Liability Derivatives		Asset Derivatives		Liability Derivatives
	(in millions)
Derivatives designated as accounting hedges:
Currency exchange contracts	$	1	$	3	$	—	$	—
Interest rate contracts	27		3		27		17
Net investment hedge derivative contracts (1)	137		51		117		45
	$	165	$	57	$	144	$	62
Derivatives not designated as accounting hedges:
Currency exchange contracts	$	135	$	124	$	156	$	40
Commodity contracts	589		220		387		137
Equity method investment contracts(2)	—		3		—		3
	$	724	$	347	$	543	$	180
Total fair value	$	889	$	404	$	687	$	242

Schedule of Derivative Instruments Fair Value and Measurement Inputs

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


	As of March 31, 2022
	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	$	9	$	—	$	9	$	—
Commodity contracts	369		213		156		—
Interest rate contracts	24		—		24		—
Net investment hedge contracts	86		—		86		—
Equity method investment contracts	(3)		—		(3)		—
Total derivatives	$	485	$	213	$	272	$	—


	As of December 31, 2021
	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	$	116	$	—	$	116	$	—
Commodity contracts	251		161		90		—
Interest rate contracts	10		—		10		—
Net investment hedge contracts	71		—		71		—
Equity method investment contracts	(3)		—		(3)		—
Total derivatives	$	445	$	161	$	284	$	—

Schedule of Notional Values of Derivative Instruments

The notional values of our hedging instruments were:


	Notional Amount
	As of March 31, 2022		As of December 31, 2021
	(in millions)
Currency exchange contracts:
Intercompany loans and forecasted interest payments	$	3,073	$	1,891
Forecasted transactions	4,822		4,831
Commodity contracts	10,281		9,694
Interest rate contracts	1,850		1,850
Net investment hedges:
Net investment hedge derivative contracts	7,306		3,915
Non-U.S. dollar debt designated as net investment hedges
Euro notes	3,525		3,622
British pound sterling notes	346		356
Swiss franc notes	802		811
Canadian dollar notes	480		475

Benefit Plans (Tables)

3 Months Ended

Mar. 31, 2022

Pension Plans

Defined Benefit Plan Disclosure [Line Items]

Schedule of Components of Net Benefit Costs/(Credits)

Net periodic pension cost/(benefit) consisted of the following:


	U.S. Plans				Non-U.S. Plans
	For the Three Months Ended March 31,				For the Three Months Ended March 31,
	2022		2021		2022		2021
	(in millions)
Service cost	$	1	$	2	$	39	$	35
Interest cost	11		10		41		29
Expected return on plan assets	(18)		(18)		(93)		(106)
Amortization:
Net loss from experience differences	3		4		19		33
Prior service cost/(benefit)	—		—		(1)		(2)
Settlement losses and other expenses	3		3		—		—
Net periodic pension cost/(benefit)	$	—	$	1	$	5	$	(11)

Postretirement Benefit Plans

Defined Benefit Plan Disclosure [Line Items]

Schedule of Components of Net Benefit Costs/(Credits)

Net periodic postretirement health care cost/(benefit) consisted of the following:


	For the Three Months Ended March 31,
	2022		2021
	(in millions)
Service cost	$	1	$	1
Interest cost	2		2
Amortization:
Net loss from experience differences	—		1
Prior service credit	—		—
Net periodic postretirement health care cost/(benefit)	$	3	$	4

Postemployment Benefit Plans

Defined Benefit Plan Disclosure [Line Items]

Schedule of Components of Net Benefit Costs/(Credits)

Net periodic postemployment cost consisted of the following:


	For the Three Months Ended March 31,
	2022		2021
	(in millions)
Service cost	$	1	$	1
Interest cost	1		1
Amortization of net gains	(1)		(1)
Net periodic postemployment cost	$	1	$	1

Stock Plans (Tables)

3 Months Ended

Mar. 31, 2022

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, 2022	23,503,759	$42.65	5 years	$	556	million
Annual grant to eligible employees	2,180,540	64.65
Additional options issued	1,710	65.97
Total options granted	2,182,250	64.65
Options exercised (1)	(2,329,139)	34.61		$	74	million
Options canceled	(208,761)	53.50
Balance at March 31, 2022	23,148,109	45.43	6 years	$	406	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, 2022	4,668,046		$57.04
Annual grant to eligible employees:		Feb 24, 2022
Performance share units	806,590		61.87
Deferred stock units	505,090		64.65
Additional shares granted (1)	653,365	Various	60.17
Total shares granted	1,965,045		62.02	$	122	million
Vested (2)	(1,670,302)		55.34	$	92	million
Forfeited	(187,367)		61.42
Balance at March 31, 2022	4,775,422		59.51

(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 $5 million in the three months ended March 31, 2022.

Reclassifications from Accumulated Other Comprehensive Income (Tables)

3 Months Ended

Mar. 31, 2022

Equity [Abstract]

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


	For the Three Months Ended March 31,
	2022		2021
	(in millions)
Currency Translation Adjustments:
Balance at beginning of period	$	(9,097)	$	(8,655)
Currency translation adjustments	6		(134)


Tax (expense)/benefit	44		(2)
Other comprehensive earnings/(losses)	50		(136)
Less: other comprehensive (earnings)/loss attributable to noncontrolling interests	4		9
Balance at end of period	(9,043)		(8,782)
Pension and Other Benefit Plans:
Balance at beginning of period	$	(1,379)	$	(1,874)
Net actuarial gain/(loss) arising during period	44		(1)
Tax (expense)/benefit on net actuarial gain/(loss)	—		—
Losses/(gains) reclassified into net earnings:
Amortization of experience losses and prior service costs (2)	20		35
Settlement losses and other expenses (2)	3		3

Tax expense/(benefit) on reclassifications (3)	(6)		(9)
Currency impact	32		41
Other comprehensive earnings/(losses)	93		69
Balance at end of period	(1,286)		(1,805)
Derivative Cash Flow Hedges:
Balance at beginning of period	$	(148)	$	(161)
Net derivative gains/(losses)	26		(7)
Tax (expense)/benefit on net derivative gain/(loss)	(1)		1
Losses/(gains) reclassified into net earnings:
Interest rate contracts (2)(4)	48		6
Tax expense/(benefit) on reclassifications (3)	(23)		(1)
Currency impact	2		3
Other comprehensive earnings/(losses)	52		2
Balance at end of period	(96)		(159)
Accumulated other comprehensive income attributable to Mondelēz International:
Balance at beginning of period	$	(10,624)	$	(10,690)
Total other comprehensive earnings/(losses)	195		(65)
Less: other comprehensive (earnings)/loss attributable to noncontrolling interests	4		9
Other comprehensive earnings/(losses) attributable to Mondelēz International	199		(56)
Balance at end of period	$	(10,425)	$	(10,746)

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

(2)These amounts include equity method investment transactions recorded within gain on equity method investment transactions.

(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)

3 Months Ended

Mar. 31, 2022

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 March 31,
	2022		2021
	(in millions, except per share data)
Net earnings	$	861	$	968
Noncontrolling interest earnings	(6)		(7)
Net earnings attributable to Mondelēz International	$	855	$	961
Weighted-average shares for basic EPS	1,389		1,412
Plus incremental shares from assumed conversions of stock options and long-term incentive plan shares	9		10
Weighted-average shares for diluted EPS	1,398		1,422
Basic earnings per share attributable to Mondelēz International	$	0.62	$	0.68
Diluted earnings per share attributable to Mondelēz International	$	0.61	$	0.68

Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

Schedule of Segment Net Revenues and Earnings

Our segment net revenues and earnings were:


	For the Three Months Ended March 31,
	2022		2021
	(in millions)
Net revenues:
Latin America	$	826	$	669
AMEA	1,867		1,745
Europe	2,935		2,847
North America	2,136		1,977
Net revenues	$	7,764	$	7,238
Earnings before income taxes:
Operating income:
Latin America	$	103	$	76
AMEA	272		362
Europe	377		557
North America	418		270
Unrealized gains/(losses) on hedging activities (mark-to-market impacts)	27		118
General corporate expenses	(50)		(64)
Amortization of intangible assets	(32)		(38)
Gain on acquisition	—		9
Acquisition-related costs	(21)		(7)
Operating income	1,094		1,283
Benefit plan non-service income	33		44
Interest and other expense, net	(168)		(218)
Earnings before income taxes	$	959	$	1,109

Schedule of Net Revenues by Product Category

Net revenues by product category were:


	For the Three Months Ended March 31, 2022
	Latin America		AMEA		Europe		North America		Total
	(in millions)
Biscuits	$	224	$	657	$	951	$	1,799	$	3,631
Chocolate	248		706		1,512		77		2,543
Gum & Candy	172		203		152		260		787
Beverages	102		197		32		—		331
Cheese & Grocery	80		104		288		—		472
Total net revenues	$	826	$	1,867	$	2,935	$	2,136	$	7,764

	Three Months Ended March 31, 2021 (1)
	Latin America		AMEA		Europe		North America		Total
	(in millions)
Biscuits	$	177	$	583	$	810	$	1,736	$	3,306
Chocolate	192		670		1,544		63		2,469
Gum & Candy	131		194		148		178		651
Beverages	94		180		33		—		307
Cheese & Grocery	75		118		312		—		505
Total net revenues	$	669	$	1,745	$	2,847	$	1,977	$	7,238

Basis of Presentation - Narrative (Details)
$ in Millions

3 Months Ended

Mar. 31, 2022

USD ($)

facility

country

Mar. 31, 2021

USD ($)

Dec. 31, 2021

USD ($)

Dec. 31, 2020

USD ($)

Summary of Significant Accounting Policies [Line Items]

Asset impairments and accelerated depreciation

$ 155

$ 43

Inventory valuation reserves and write-offs

146

$ 116

Number of countries in which products are sold (more than) | country

$ 7,764

7,238

^[1]

150

Number of countries in which entity operates (more than) | country

Restricted cash

$ 7

Cash, cash equivalents and restricted cash

1,953

2,059

3,553

$ 3,650

Outstanding principal amount of receivables sold under factoring arrangement

887

$ 761

Operating lease right-of-use assets obtained in exchange for lease obligations

Finance lease right-of-use assets in exchange for lease obligations

$ 56

$ 30

Military Invasion of Ukraine

Summary of Significant Accounting Policies [Line Items]

Number of manufacturing facilities damaged | facility

Incremental costs due to war in Ukraine, before tax

$ 143

Incremental costs due to war in Ukraine, after tax

145

Property, plant and equipment impairment charges

Inventory valuation reserves and write-offs

Trade receivable, allowance for credit loss, period increase

Accrued expense

Cost of sales | Military Invasion of Ukraine

Summary of Significant Accounting Policies [Line Items]

Incremental costs due to war in Ukraine, before tax

Restructuring, Settlement and Impairment Provisions | Military Invasion of Ukraine

Summary of Significant Accounting Policies [Line Items]

Incremental costs due to war in Ukraine, before tax

General and Administrative Expense | Military Invasion of Ukraine

Summary of Significant Accounting Policies [Line Items]

Incremental costs due to war in Ukraine, before tax

Turkey

Summary of Significant Accounting Policies [Line Items]

Percentage of consolidated net revenues

$ 43

0.60%

Argentina

Summary of Significant Accounting Policies [Line Items]

Percentage of consolidated net revenues

$ 129

1.70%

Net monetary liabilities

$ (26)

Argentina | Selling, general and administrative expenses

Summary of Significant Accounting Policies [Line Items]

Remeasurement loss due to inflationary accounting

$ 5

[1]	Our snack product categories include biscuits, chocolate and gum & candy. During 2022, we realigned some of our products between our biscuits and chocolate categories; as such, we reclassified the product category net revenues on a basis consistent with the 2022 presentation.

Basis of Presentation - Changes in Allowances for Credit Losses (Details) $ in Millions	3 Months Ended
	Mar. 31, 2022 USD ($)
Allowance for Trade Receivables
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at January 1, 2022	$ (37)
Current period provision for expected credit losses	(19)
Write-offs charged against the allowance	3
Currency	(2)
Balance at March 31, 2022	(55)
Allowance for Other Current Receivables
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at January 1, 2022	(49)
Current period provision for expected credit losses	(2)
Write-offs charged against the allowance	0
Currency	3
Balance at March 31, 2022	(48)
Allowance for Long-Term Receivables
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at January 1, 2022	(10)
Current period provision for expected credit losses	(5)
Write-offs charged against the allowance	0
Currency	(2)
Balance at March 31, 2022	$ (17)

Acquisitions and Divestitures - Narrative (Details) £ in Millions, $ in Millions, $ in Millions, € in Billions											3 Months Ended
	Apr. 24, 2022 USD ($)	Jan. 03, 2022 USD ($)	Jan. 03, 2022 EUR (€)	Nov. 01, 2021 USD ($)	Nov. 01, 2021 AUD ($)	Apr. 01, 2021 USD ($)	Apr. 01, 2021 AUD ($)	Mar. 25, 2021 USD ($)	Mar. 25, 2021 GBP (£)	Jan. 04, 2021 USD ($)	Mar. 31, 2022 USD ($)	Mar. 31, 2021 USD ($)	Dec. 31, 2021 USD ($)
Business Acquisition [Line Items]
Acquisition-related costs											$ 21	$ 7
Goodwill											22,618		$ 21,978
Net Cash Paid											1,418	490
Pre-tax gain to step up investment to fair value and consolidate the company											0	9
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| MaxFoods Pty Ltd.
Business Acquisition [Line Items]
Proceeds from divestiture of businesses, net of cash divested				$ 41	$ 57
Ricolino \| Subsequent Event
Business Acquisition [Line Items]
Business combination price of acquisition expected	$ 1,300
Chipita, S.A.
Business Acquisition [Line Items]
Closing cash consideration		$ 1,400	€ 1.3
Liabilities assumed		436	0.4
Purchase price		1,906	€ 1.7
Incremental net revenues from acquisition											152
Incremental operating income (loss) from acquisition											4
Acquisition-related costs											21
Acquisition integration costs											35
Definite life intangible assets		48
Goodwill		774
Property, plant and equipment		406
Inventory acquired		62
Accounts receivables		102
Other assets		79
Other current assets acquired		4
Current liabilities assumed		131
Net Cash Paid		1,418
Deferred tax liabilities assumed		155
Long-term other liabilities		21
Chipita, S.A. \| Trade Names
Business Acquisition [Line Items]
Indefinite life intangible assets		$ 686
Gourmet Food
Business Acquisition [Line Items]
Closing cash consideration						$ 343	$ 450
Indefinite life intangible assets						41
Incremental net revenues from acquisition											14
Incremental operating income (loss) from acquisition											1
Acquisition-related costs												1
Definite life intangible assets						80
Goodwill						164
Property, plant and equipment						19
Inventory acquired						18
Accounts receivables						25
Other assets						12
Operating lease, right-of-use asset acquired						5
Other current assets acquired						3
Current liabilities assumed						19
Noncurrent operating lease liability assumed						$ 5
Grenade
Business Acquisition [Line Items]
Indefinite life intangible assets								$ 82
Incremental net revenues from acquisition											21
Incremental operating income (loss) from acquisition											$ 2
Acquisition-related costs												2
Definite life intangible assets								28
Goodwill								181
Property, plant and equipment								1
Inventory acquired								11
Accounts receivables								18
Current liabilities assumed								25
Net Cash Paid								261	£ 188
Deferred tax liabilities assumed								20
Long-term other liabilities								$ 15
Hu
Business Acquisition [Line Items]
Indefinite life intangible assets										$ 123
Acquisition-related costs												$ 4
Definite life intangible assets										51
Goodwill										202
Property, plant and equipment										1
Inventory acquired										2
Accounts receivables										4
Current liabilities assumed										5
Net Cash Paid										229
Long-term other liabilities										$ 132
Percentage of interest acquired										93.00%
Fair value of contingent consideration obligation										$ 132
Pre-tax gain to step up investment to fair value and consolidate the company										9
After-tax gain to step up investment to fair value and consolidate the company										7
Amount of equity in the acquiree held by the acquirer immediately before the acquisition date in a business combination										$ 8
Percentage of equity in the acquiree held by the acquirer immediately before the acquisition date in a business combination										7.00%

Acquisitions and Divestitures - Purchase Price Allocation of Net Tangible and Intangible Assets Acquired and Liabilities Assumed (Details) $ in Millions, € in Billions			3 Months Ended
	Jan. 03, 2022 USD ($)	Jan. 03, 2022 EUR (€)	Mar. 31, 2022 USD ($)	Mar. 31, 2021 USD ($)	Dec. 31, 2021 USD ($)
Business Acquisition [Line Items]
Goodwill			$ 22,618		$ 21,978
Net Cash Paid			$ 1,418	$ 490
Chipita, S.A.
Business Acquisition [Line Items]
Cash	$ 52
Receivables	102
Inventory	62
Other current assets	4
Property, plant and equipment	406
Finance leases right of use assets	8
Definite life intangible assets	48
Goodwill	774
Other assets	79
Assets acquired	2,221
Current liabilities	131
Deferred tax liability	155
Finance lease liabilities	8
Other liabilities	21
Total purchase price	1,906	€ 1.7
Less: long-term debt	(436)	€ (0.4)
Less: cash received	(52)
Net Cash Paid	1,418
Chipita, S.A. \| Trade Names
Business Acquisition [Line Items]
Indefinite life intangible assets	$ 686

Inventories (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 891	$ 770
Finished product	2,093	2,054
Inventories, gross	2,984	2,824
Inventory reserves	(146)	(116)
Inventories, net	$ 2,838	$ 2,708

Property, Plant and Equipment (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 16,439	$ 16,092
Accumulated depreciation	(7,424)	(7,434)
Property, plant and equipment, net	9,015	8,658
Land and land improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	405	379
Buildings and building improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	3,322	3,139
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	12,043	11,842
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 669	$ 732

Property, Plant and Equipment - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Property, Plant and Equipment [Abstract]
Capital expenditures	$ 167	$ 216
Accrued capital expenditures unpaid	244	230
Payments for capital expenditures accrued in the prior year	$ 249	$ 275

Property, Plant and Equipment - Asset Impairment and Exit Costs (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Total	$ 155	$ 43
Simplify to Grow Program
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Total	2	40
Simplify to Grow Program \| Latin America
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Total	0	0
Simplify to Grow Program \| AMEA
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Total	0	(16)
Simplify to Grow Program \| Europe
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Total	1	2
Simplify to Grow Program \| North America
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Total	$ 1	$ 54

Goodwill and Intangible Assets - Goodwill by Segment (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Goodwill	$ 22,618	$ 21,978
Latin America
Segment Reporting Information [Line Items]
Goodwill	738	674
AMEA
Segment Reporting Information [Line Items]
Goodwill	3,371	3,365
Europe
Segment Reporting Information [Line Items]
Goodwill	8,355	7,830
North America
Segment Reporting Information [Line Items]
Goodwill	$ 10,154	$ 10,109

Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Indefinite-life intangible assets	$ 17,827	$ 17,299
Definite-life intangible assets	3,025	2,991
Total intangible assets, gross	20,852	20,290
Accumulated amortization	(2,023)	(1,999)
Intangible assets, net	$ 18,829	$ 18,291

Goodwill and Intangible Assets - Narrative (Details)	3 Months Ended
Goodwill and Intangible Assets - Narrative (Details)	Mar. 31, 2022 USD ($) brand	Mar. 31, 2021 USD ($)	Jul. 01, 2021 brand
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense for intangible assets	$ 32,000,000	$ 38,000,000
Estimated amortization expense of intangibles in 2022	130,000,000
Estimated amortization expense of intangibles in 2023	130,000,000
Estimated amortization expense of intangibles in 2024	130,000,000
Estimated amortization expense of intangibles in 2025	105,000,000
Estimated amortization expense of intangibles in 2026	65,000,000
Goodwill and Intangible Assets Disclosure [Line Items]
Goodwill acquired	774,000,000
Intangibles acquired	734,000,000
Impairment of intangible assets	$ 78,000,000
Brands
Goodwill and Intangible Assets Disclosure [Line Items]
Impairment of intangible assets		$ 0
Number of brands with fair value in excess of book value of 10% or less \| brand	8		8
Book value of brands with fair value in excess of book value of 10% or less	$ 1,045,000,000
Chipita, S.A.
Goodwill and Intangible Assets Disclosure [Line Items]
Goodwill acquired	774,000,000
Intangibles acquired	$ 734,000,000

Goodwill and Intangible Assets - Changes in Goodwill and Intangible Assets (Details) $ in Millions	3 Months Ended
	Mar. 31, 2022 USD ($)
Goodwill
Balance at January 1, 2022	$ 21,978
Currency	(134)
Acquisitions	774
Asset impairments	0
Balance at March 31, 2022	22,618
Intangible Assets, at cost
Balance at January 1, 2022	20,290
Currency	(94)
Acquisitions	734
Asset impairments	(78)
Balance at March 31, 2022	$ 20,852

Equity Method Investments (Details) € / shares in Units, shares in Millions, $ in Millions		3 Months Ended
	Sep. 20, 2021 EUR (€) € / shares shares	Mar. 31, 2022 USD ($)	Mar. 31, 2021 USD ($)	Mar. 31, 2022 EUR (€)	Dec. 31, 2021 USD ($)
Schedule of Equity Method Investments [Line Items]
Equity method investments		$ 5,255			$ 5,289
Equity method investment net earnings		117	$ 78
Cash dividends received from equity method investments		$ 107	$ 74
0.000% Notes Due September 2024 \| Exchangeable Notes
Schedule of Equity Method Investments [Line Items]
Debt issued \| €	€ 300,000,000			€ 300,000,000
Exchange price (in EUR per share) \| € / shares	€ 35.40
Debt convertible into equity interest, shares issuable (in shares) \| shares	8.5
Debt convertible into equity interest, percentage	0.07
JDEP
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage		22.70%		22.70%
KDP
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage		5.30%		5.30%
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		$ 6,100

Restructuring Program - Narrative (Details) - USD ($) $ in Millions				3 Months Ended		95 Months Ended
	Sep. 06, 2018	Aug. 31, 2016	May 06, 2014	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Dec. 31, 2021
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				$ 31	$ 122	$ 5,055
Restructuring charges				11	88	3,047
Cash spent in restructuring				17
Non-cash asset write-downs				2
Gain on sale of property					40
Restructuring reserve				202		202	$ 211
Implementation costs				20	34	2,008
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				172		172
Simplify to Grow Program \| Other liabilities
Restructuring Cost and Reserve [Line Items]
Restructuring reserve				30		30
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				9
Cash spent in restructuring				17	$ 34
Non-cash asset write-downs				0
Restructuring reserve				$ 202		$ 202	$ 211

Restructuring Program - Restructuring Liability Activity (Details) - Simplify to Grow Program - USD ($) $ in Millions	3 Months Ended		95 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022
Restructuring Reserve [Roll Forward]
Liability balance, January 1, 2022	$ 211
Charges	11	$ 88	$ 3,047
Cash spent	(17)
Non-cash settlements/adjustments	(2)
Currency	(1)
Liability balance, March 31, 2022	202		202
Severance and related costs
Restructuring Reserve [Roll Forward]
Liability balance, January 1, 2022	211
Charges	9
Cash spent	(17)	$ (34)
Non-cash settlements/adjustments	0
Currency	(1)
Liability balance, March 31, 2022	202		202
Asset Write-downs
Restructuring Reserve [Roll Forward]
Liability balance, January 1, 2022	0
Charges	2
Cash spent	0
Non-cash settlements/adjustments	(2)
Currency	0
Liability balance, March 31, 2022	$ 0		$ 0

Restructuring Program - Restructuring and Implementation Costs by Segments (Details) - Simplify to Grow Program - USD ($) $ in Millions	3 Months Ended		95 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022
Restructuring Cost and Reserve [Line Items]
Restructuring Costs	$ 11	$ 88	$ 3,047
Implementation Costs	20	34	2,008
Total	31	122	5,055
Operating Segments \| Latin America
Restructuring Cost and Reserve [Line Items]
Restructuring Costs	(1)	3	553
Implementation Costs	1	3	297
Total	0	6	850
Operating Segments \| AMEA
Restructuring Cost and Reserve [Line Items]
Restructuring Costs	2	(21)	543
Implementation Costs	1	2	240
Total	3	(19)	783
Operating Segments \| Europe
Restructuring Cost and Reserve [Line Items]
Restructuring Costs	2	6	1,149
Implementation Costs	5	10	549
Total	7	16	1,698
Operating Segments \| North America
Restructuring Cost and Reserve [Line Items]
Restructuring Costs	8	101	653
Implementation Costs	7	10	560
Total	15	111	1,213
Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring Costs	0	(1)	149
Implementation Costs	6	9	362
Total	$ 6	$ 8	$ 511

Debt and Borrowing Arrangements - Short-Term Borrowings and Related Weighted-Average Interest Rates (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Short-term Debt [Line Items]
Amount Outstanding	$ 606	$ 216
Commercial paper
Short-term Debt [Line Items]
Amount Outstanding	$ 463	$ 192
Weighted-Average Rate	0.90%	0.20%
Bank loans
Short-term Debt [Line Items]
Amount Outstanding	$ 143	$ 24
Weighted-Average Rate	3.50%	8.60%

Debt and Borrowing Arrangements - Uncommitted and Committed Credit Lines Available (Details) - USD ($)

Mar. 31, 2022

Dec. 31, 2021

Line of Credit | Credit Facility Expiring February 27, 2024

$ 606,000,000

$ 216,000,000

Line of Credit | Credit Facility Expiring February 23, 2027

^[1]

4,500,000,000

Borrowed Amount

^[1]

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

^[1]

4,500,000,000

Borrowed Amount

^[1]

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

38,600,000,000

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

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

25,000,000,000

Line of Credit

Line of Credit | Uncommitted credit facilities

143,000,000

24,000,000

1,435,000,000

1,367,000,000

Line of Credit | Credit Facility Expiring November 30, 2022

143,000,000

24,000,000

^[1],[2]

2,000,000,000

Line of Credit | Credit Facility Expiring February 23, 2022

^[1],[2]

^[1]

2,500,000,000

Line of Credit | Credit Facility Expiring February 22, 2023

^[1]

^[1]

2,500,000,000

^[1]

$ 0

[1]

We maintain a multi-year senior unsecured revolving credit facility for general corporate purposes, including working capital needs, and to support our commercial paper program. The revolving credit agreement includes a covenant that we maintain a minimum shareholders' equity of at least $25.0 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 March 31, 2022, we complied with this covenant as our shareholders' equity, as defined by the covenant, was $38.6 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.

[2]

On March 31, 2022, we entered into a supplemental term loan credit facility that can be utilized for general corporate purposes, including acquisitions. Under this agreement we may draw up to a total of $2.0 billion in term loans from the facility. The maturity dates of any loans drawn under this facility will be three years after the funding date of the applicable loan(s).

Debt and Borrowing Arrangements - Narrative (Details)
$ in Millions, € in Billions

3 Months Ended

Mar. 31, 2022

USD ($)

Mar. 31, 2022

EUR (€)

Mar. 31, 2021

USD ($)

Loss on debt extinguishment and related expenses

$ (129)

$ (137)

Loss on extinguishment of debt

(38)

(110)

Derivative, loss on derivative

(91)

Business Combination, Debt Assumed | Chipita, S.A.

(168)

(218)

Repayments of assumed debt

400

€ 0.4

Net investment hedge derivative contracts | Net investment hedge debt

Net investment hedge derivative contracts excluded from hedge effectiveness

^[1]

$ 20

Currency exchange contracts | Early Settlement of Currency Exchange Contracts

$ 20

[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 - Debt Redemptions (Details) - Notes Payable $ in Millions	Mar. 31, 2022 USD ($)
3.625% Notes Due February 2026
Debt Instrument [Line Items]
Interest Rate	3.625%
Amount Redeemed	$ 130
4.125% Notes Due May 2028
Debt Instrument [Line Items]
Interest Rate	4.125%
Amount Redeemed	$ 211
2.750% Notes Due April 2030
Debt Instrument [Line Items]
Interest Rate	2.75%
Amount Redeemed	$ 500
6.500% Notes Due November 2031
Debt Instrument [Line Items]
Interest Rate	6.50%
Amount Redeemed	$ 17
7.000% Notes Due August 2037
Debt Instrument [Line Items]
Interest Rate	7.00%
Amount Redeemed	$ 10
6.875% Notes Due February 2038
Debt Instrument [Line Items]
Interest Rate	6.875%
Amount Redeemed	$ 21
6.875% Notes Due January 2039
Debt Instrument [Line Items]
Interest Rate	6.875%
Amount Redeemed	$ 8
6.500% Notes Due February 2040
Debt Instrument [Line Items]
Interest Rate	6.50%
Amount Redeemed	$ 36
4.625% Notes Due May 2048
Debt Instrument [Line Items]
Interest Rate	4.625%
Amount Redeemed	$ 54

Debt and Borrowing Arrangements - Debt Repayments (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Debt Instrument [Line Items]
Repayments of long-term debt	$ 2,306	$ 3,353
Notes Payable \| 0.625% Notes Due 2022
Debt Instrument [Line Items]
Interest Rate	0.625%
Repayments of long-term debt	$ 1,000

Debt and Borrowing Arrangements - Debt Issuances (Details) - Notes Payable

Mar. 31, 2022

USD ($)

2.125% Notes Due 2024

Interest Rate

2.125%

Gross Proceeds

$ 500,000,000

^[1]

2.625% Notes Due 2027

Interest Rate

2.625%

Gross Proceeds

$ 750,000,000

^[1]

3.000% Notes Due 2032

Interest Rate

3.00%

Gross Proceeds

$ 750,000,000

^[1]

[1]	Represents gross proceeds from the issuance of notes excluding debt issuance costs, discounts and premiums.

Debt and Borrowing Arrangements - Fair Value of Debt (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Fair Value \| Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	$ 19,009	$ 20,249
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	$ 19,704	$ 19,512

Debt and Borrowing Arrangements - Interest and Other Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Debt Disclosure [Abstract]
Interest expense, debt	$ 91	$ 98
Loss on debt extinguishment and related expenses	129	137
Other (income)/expense, net	(52)	(17)
Interest and other expense, net	$ 168	$ 218

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

Mar. 31, 2022

USD ($)

Mar. 31, 2022

EUR (€)

Dec. 31, 2021

USD ($)

Sep. 20, 2021

EUR (€)

$ 889

$ 687

0.000% Notes Due September 2024 | Exchangeable Notes

404

242

Derivatives designated as accounting hedges

Debt issued | €

€ 300,000,000

165

144

Derivatives designated as accounting hedges | Currency exchange contracts

Derivatives designated as accounting hedges | Interest rate contracts

Derivatives designated as accounting hedges | Net investment hedge derivative contracts

^[1]

137

117

Derivatives not designated as accounting hedges

^[1]

724

543

Derivatives not designated as accounting hedges | Currency exchange contracts

347

180

135

156

Derivatives not designated as accounting hedges | Commodity contracts

124

589

387

Derivatives not designated as accounting hedges | Equity method investment contracts

220

137

^[2]

^[2]

$ 3

[1]

Net investment hedge derivative contracts consist of cross-currency interest rate swaps, forward contracts and options. 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.

[2]

Equity method investment contracts consist of the bifurcated embedded derivative option that was a component of the September 20, 2021 €300 million exchangeable bonds issuance. Refer to Note 8, Debt and Borrowing Arrangements

Financial Instruments - Notional Values of Hedging Instruments (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Euro notes \| Net investment hedge debt
Derivative [Line Items]
Notional Amount	$ 3,525	$ 3,622
British pound sterling notes \| Net investment hedge debt
Derivative [Line Items]
Notional Amount	346	356
Swiss franc notes \| Net investment hedge debt
Derivative [Line Items]
Notional Amount	802	811
Canadian dollar notes \| Net investment hedge debt
Derivative [Line Items]
Notional Amount	480	475
Currency exchange contracts \| Intercompany loans and forecasted interest payments
Derivative [Line Items]
Notional Amount	3,073	1,891
Currency exchange contracts \| Forecasted transactions
Derivative [Line Items]
Notional Amount	4,822	4,831
Commodity contracts
Derivative [Line Items]
Notional Amount	10,281	9,694
Interest rate contracts
Derivative [Line Items]
Notional Amount	1,850	1,850
Net investment hedge contracts
Derivative [Line Items]
Notional Amount	7,306	$ 3,915
Net investment hedge contracts \| Net investment hedge debt
Derivative [Line Items]
Notional Amount	$ 7,300

Financial Instruments - Cash Flow Hedges Effect on Accumulated Other Comprehensive Earnings/(Losses), Net of Tax (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net [Abstract]
Balance at beginning of period	$ 28,323	$ 27,654
Transfer of realized losses/(gains) in fair value to earnings	42	34
Balance at end of period	28,216	27,149
Cash flow hedges
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net [Abstract]
Unrealized (loss)/gain in fair value	27	(3)
Derivative Cash Flow Hedges
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net [Abstract]
Balance at beginning of period	(148)	(161)
Balance at end of period	(96)	(159)
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	(148)	(161)
Transfer of realized losses/(gains) in fair value to earnings	25	5
Unrealized (loss)/gain in fair value	27	(3)
Balance at end of period	$ (96)	$ (159)

Derivative Instruments, Gain (Loss) [Line Items]

Financial Instruments - Cash Flow Hedges After-tax Gains/(Losses) (Details) - Cash flow hedges - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Derivative Instruments, Gain (Loss) [Line Items]
After-tax gains/(losses) reclassified from accumulated other comprehensive income into earnings/(losses)	$ (25)	$ (5)
After-tax gains/(losses) recognized in other comprehensive earnings/(losses)	27	(3)
Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
After-tax gains/(losses) reclassified from accumulated other comprehensive income into earnings/(losses)	(23)	(5)
After-tax gains/(losses) recognized in other comprehensive earnings/(losses)	25	(2)
Currency exchange contracts \| Forecasted transactions
Derivative Instruments, Gain (Loss) [Line Items]
After-tax gains/(losses) reclassified from accumulated other comprehensive income into earnings/(losses)	(2)	0
After-tax gains/(losses) recognized in other comprehensive earnings/(losses)	$ 2	$ (1)

Financial Instruments - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Cost of sales	$ 4,781	$ 4,272
Selling, general and administrative expenses	1,693	1,564
Interest and other expense, net	(168)	$ (218)
Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, aggregate notional value	1,850		$ 1,850
Early Settlement of Currency Exchange Contracts \| Currency exchange contracts
Derivative Instruments, Gain (Loss) [Line Items]
Cost of sales	74
Selling, general and administrative expenses	5
Interest and other expense, net	20
Cash flow hedges \| Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Expected transfer of unrealized losses (net of taxes) for interest rate cash flow hedges to earnings during the next 12 months	$ 9
Hedged forecasted transaction period	4 years 5 months

Financial Instruments - Net Investment Hedge Derivative Contracts (Details) - Net investment hedges - Net investment hedge derivative contracts - USD ($)
$ in Millions

3 Months Ended

Mar. 31, 2022

Mar. 31, 2021

After-tax gain/(loss) on NIH contracts

^[1]

$ 41

$ 59

Amounts excluded from the assessment of hedge effectiveness

^[2]

$ 22

$ 20

[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
	Mar. 31, 2022	Mar. 31, 2021
Euro notes
Derivative Instruments, Gain (Loss) [Line Items]
After-tax gains/(losses) related to hedges of net investments in international operations	$ 74	$ 124
British pound sterling notes
Derivative Instruments, Gain (Loss) [Line Items]
After-tax gains/(losses) related to hedges of net investments in international operations	8	(2)
Swiss franc notes
Derivative Instruments, Gain (Loss) [Line Items]
After-tax gains/(losses) related to hedges of net investments in international operations	6	56
Canadian notes
Derivative Instruments, Gain (Loss) [Line Items]
After-tax gains/(losses) related to hedges of net investments in international operations	$ (4)	$ (5)

Financial Instruments - Economic Hedges (Details) - Derivatives Not Designated as Hedging Instruments - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives instruments, pre-tax gains/(losses) recognized in earnings	$ 242	$ 200
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	(11)	70
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	21	(16)
Currency exchange contracts \| Forecasted transactions \| Cost of sales
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives instruments, pre-tax gains/(losses) recognized in earnings	(7)	50
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	2	2
Commodity contracts \| Cost of sales
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives instruments, pre-tax gains/(losses) recognized in earnings	237	94
Equity method investment contracts \| Gain on equity method investment transactions
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives instruments, pre-tax gains/(losses) recognized in earnings	$ 0	$ 0

Benefit Plans - Pension Plans (Details) - Pension Plans - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 1	$ 2
Interest cost	11	10
Expected return on plan assets	(18)	(18)
Net loss from experience differences	3	4
Prior service cost/(benefit)	0	0
Settlement losses and other expenses	3	3
Net periodic cost/(benefit)	0	1
Non-U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	39	35
Interest cost	41	29
Expected return on plan assets	(93)	(106)
Net loss from experience differences	19	33
Prior service cost/(benefit)	(1)	(2)
Settlement losses and other expenses	0	0
Net periodic cost/(benefit)	$ 5	$ (11)

Benefit Plans - Narrative (Details) - USD ($) $ in Millions		3 Months Ended
Benefit Plans - Narrative (Details) - USD ($) $ in Millions	Jul. 11, 2019	Mar. 31, 2022	Mar. 31, 2021
U.S. Plans \| North America
Defined Benefit Plan Disclosure [Line Items]
Multiemployer plan, withdrawal liability	$ 526	$ 356
Multiemployer plan, withdrawal obligation term	20 years
Multiemployer plan, accreted interest on the long-term liability		3	$ 3
Other current liabilities \| U.S. Plans \| North America
Defined Benefit Plan Disclosure [Line Items]
Multiemployer plan, withdrawal liability		15
Long-term other liabilities \| U.S. Plans \| North America
Defined Benefit Plan Disclosure [Line Items]
Multiemployer plan, withdrawal liability		341
Pension Plans \| U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Employer contribution		1
Estimated future employer contributions over the remainder of 2022		3
Pension Plans \| Non-U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Employer contribution		64
Estimated future employer contributions over the remainder of 2022		121
Pension Plans \| United Kingdom and Ireland
Defined Benefit Plan Disclosure [Line Items]
Employer contribution		$ 25

Benefit Plans - Postretirement Benefit Plans (Details) - Postretirement Benefit Plans - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 1	$ 1
Interest cost	2	2
Net loss from experience differences	0	1
Prior service credit	0	0
Net periodic cost/(benefit)	$ 3	$ 4

Benefit Plans - Postemployment Benefit Plans (Details) - Postemployment Benefit Plans - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 1	$ 1
Interest cost	1	1
Amortization of net gains	(1)	(1)
Net periodic cost/(benefit)	$ 1	$ 1

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

3 Months Ended

12 Months Ended

Mar. 31, 2022

Dec. 31, 2021

Shares Subject to Option

Balance at January 1, 2022(in shares)

23,503,759

Options granted (in shares)

2,182,250

Options exercised (in shares)

^[1]

(2,329,139)

Options canceled (in shares)

(208,761)

Balance at March 31, 2022 (in shares)

23,148,109

23,503,759

Weighted- Average Exercise or Grant Price Per Share

Balance at January 1, 2022 (in dollars per share)

$ 42.65

Options granted (in dollars per share)

64.65

Options exercised (in dollars per share)

^[1]

34.61

Options canceled (in dollars per share)

53.50

Balance at March 31, 2022 (in dollars per share)

$ 45.43

$ 42.65

Average Remaining Contractual Term

Average remaining contractual term

6 years

5 years

Aggregate Intrinsic Value

Aggregate intrinsic value

$ 406

$ 556

Aggregate intrinsic value options exercised

^[1]

Cash received from options exercised

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

$ 10

Annual grant to eligible employees

Shares Subject to Option

Options granted (in shares)

2,180,540

Weighted- Average Exercise or Grant Price Per Share

Options granted (in dollars per share)

$ 64.65

Additional options issued

Shares Subject to Option

Options granted (in shares)

1,710

Weighted- Average Exercise or Grant Price Per Share

Options granted (in dollars per share)

$ 65.97

[1]	Cash received from options exercised was $70 million in the three months ended March 31, 2022. The actual tax benefit realized and recorded in the provision for income taxes for the tax deductions from the option exercises totaled $10 million in the three months ended March 31, 2022.

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

3 Months Ended

Mar. 31, 2022

USD ($)

$ / shares

Balance at January 1, 2022 (in shares) | shares

4,668,046

Vested (in shares) | shares

1,965,045

(1,670,302)

^[1]

Forfeited (in shares) | shares

(187,367)

Balance at March 31, 2022 (in shares) | shares

4,775,422

Weighted-average grant date fair value per share

Balance at January 1, 2022 (in dollars per share) | $ / shares

$ 57.04

^[2]

Vested (in dollars per share) | $ / shares

62.02

^[2]

55.34

^[1],[2]

Forfeited (in dollars per share) | $ / shares

61.42

^[2]

Balance at March 31, 2022 (in dollars per share) | $ / shares

$ 59.51

^[2]

Weighted-Average Aggregate Fair Value

Weighted average grant date fair value of shares granted | $

$ 122

^[2]

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 | $

$ 5

Annual grant to eligible employees

Grant Date

Grant Date

Feb. 24, 2022

Performance share units

Weighted-average grant date fair value per share

806,590

$ 61.87

^[2]

Deferred stock units

Weighted-average grant date fair value per share

505,090

Additional shares granted

$ 64.65

^[2]

Weighted-average grant date fair value per share

653,365

^[3]

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

$ 60.17

^[2],[3]

[1]	The actual tax benefit/(expense) realized and recorded in the provision for income taxes for the tax deductions from the shares vested totaled $5 million in the three months ended March 31, 2022.
[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		108 Months Ended
	Dec. 02, 2020	Jan. 31, 2018	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2018
Class of Stock [Line Items]
Common shares repurchased			$ 735,000,000	$ 1,017,000,000
Common Stock
Class of Stock [Line Items]
Stock repurchase value						$ 13,700,000,000
Common shares repurchased			$ 800,000,000
Number of shares repurchased (in shares)			11.0
Average cost of shares repurchased (in dollars per share)			$ 65.96
Remaining share repurchase capacity			$ 2,900,000,000
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
Common Stock \| Share Repurchase Program Amended December 2, 2020
Class of Stock [Line Items]
Stock repurchase value	$ 23,700,000,000
Increase in share repurchase value	$ 4,000,000,000
Common Stock \| Prior to January 1, 2022
Class of Stock [Line Items]
Common shares repurchased					$ 20,000,000,000

Commitments and Contingencies (Details) - U.S. Commodity Futures Trading Commission (CFTC)	3 Months Ended
	Mar. 31, 2022 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 - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Equity [Abstract]
Losses reclassified from accumulated other comprehensive earnings/(losses) to net earnings	$ 42	$ 34

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

Mar. 31, 2022

Mar. 31, 2021

$ 28,323

$ 27,654

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

195

(65)

Other comprehensive earnings/(losses) attributable to Mondelēz International

199

(56)

Currency translation adjustments

28,216

27,149

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

(9,097)

(8,655)

Currency impact

(134)

Tax (expense)/benefit

(2)

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

(136)

Pension and Other Benefits Plans

(9,043)

(8,782)

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

(1,379)

(1,874)

Currency impact

Net actuarial gain/(loss) arising during period

(1)

Tax (expense)/benefit before reclassifications

Tax expense/(benefit) on reclassifications

^[1]

(6)

(9)

Amortization of experience losses and prior service costs

(1,286)

(1,805)

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

Losses/(gains) reclassified into net earnings

^[2]

Settlement losses and other expenses

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

Losses/(gains) reclassified into net earnings

^[2]

Derivative Cash Flow Hedges

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

(148)

(161)

Currency impact

Net actuarial gain/(loss) arising during period

(7)

Losses/(gains) reclassified into net earnings

^[2],[3]

Tax (expense)/benefit before reclassifications

(1)

Tax expense/(benefit) on reclassifications

^[1]

(23)

(1)

Accumulated other comprehensive income attributable to Mondelēz International

(96)

(159)

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

(10,624)

(10,690)

199

(56)

$ (10,425)

$ (10,746)

[1]	Taxes reclassified to earnings are recorded within the provision for income taxes.
[2]	These amounts include equity method investment transactions recorded within gain on equity method investment transactions.
[3]	These reclassified gains or losses are recorded within interest and other expense, net.

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Mar. 31, 2022	Mar. 31, 2021
Income Tax Contingency [Line Items]
Estimated annual effective tax rate	24.80%	25.20%
Effective tax rate	21.90%	19.10%
Discrete net tax benefit	$ 62	$ 65
Net benefit from the release of uncertain tax positions due to expiration of statutes of limitations, audit settlements		32
U.S.
Income Tax Contingency [Line Items]
Tax benefit due to new tax guidance		$ 27

Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Earnings Per Share [Abstract]
Net earnings	$ 861	$ 968
Noncontrolling interest earnings	(6)	(7)
Net earnings attributable to Mondelēz International	$ 855	$ 961
Weighted-average shares for basic EPS (in shares)	1,389	1,412
Plus incremental shares from assumed conversions of stock options and long-term incentive plan shares (in shares)	9	10
Weighted-average shares for diluted EPS (in shares)	1,398	1,422
Basic earnings per share attributable to Mondelēz International (in dollars per share)	$ 0.62	$ 0.68
Diluted earnings per share attributable to Mondelēz International (in dollars per share)	$ 0.61	$ 0.68

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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=125511455&loc=d3e1448-109256

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=125511455&loc=d3e1337-109256

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=125512782&loc=d3e4984-109258

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=125512782&loc=d3e3842-109258

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22644-107794

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=125511455&loc=d3e1252-109256

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=125511455&loc=SL5780133-109256

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

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.

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=125512782&loc=d3e4984-109258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22644-107794

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=125512782&loc=d3e3842-109258

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=125511455&loc=d3e1252-109256

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=125511455&loc=SL5780133-109256

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=125511455&loc=d3e1337-109256

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227

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

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=124431353&loc=SL124452729-227067

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=123570139&loc=d3e3602-108585

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22663-107794

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 17: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=125511455&loc=SL5780133-109256

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22658-107794

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124509347&loc=SL7669619-108580

Reference 25: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721683-107760

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124509347&loc=SL7669625-108580

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

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

Earnings per Share - Narrative (Details) - shares shares in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
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)	2.1	3.6

Segment Reporting - Narrative (Details)	3 Months Ended
Segment Reporting - Narrative (Details)	Mar. 31, 2022 segment
Segment Reporting [Abstract]
Number of operating segments	4

Segment Reporting - Net Revenues and Earnings (Details) - USD ($)
$ in Millions

3 Months Ended

Mar. 31, 2022

Mar. 31, 2021

$ 7,764

$ 7,238

^[1]

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

1,094

1,283

118

General corporate expenses

(50)

(64)

Amortization of intangible assets

(32)

(38)

Gain on acquisition

Acquisition-related costs

(21)

(7)

Benefit plan non-service income

Earnings before income taxes

(168)

(218)

959

1,109

Latin America

826

669

^[1]

103

AMEA

1,867

1,745

^[1]

272

362

Europe

2,935

2,847

^[1]

377

557

North America

2,136

1,977

^[1]

$ 418

$ 270

[1]	Our snack product categories include biscuits, chocolate and gum & candy. During 2022, we realigned some of our products between our biscuits and chocolate categories; as such, we reclassified the product category net revenues on a basis consistent with the 2022 presentation.

Segment Reporting - Net Revenues by Product Category (Details) - USD ($)
$ in Millions

3 Months Ended

Mar. 31, 2022

Mar. 31, 2021

^[1]

$ 7,764

$ 7,238

Biscuits

3,631

3,306

Chocolate

2,543

2,469

Gum & Candy

787

651

Beverages

331

307

Cheese & Grocery

472

505

Latin America

826

669

Latin America | Biscuits

Latin America | Chocolate

224

177

Latin America | Gum & Candy

248

192

Latin America | Beverages

172

131

Latin America | Cheese & Grocery

102

AMEA

1,867

1,745

AMEA | Biscuits

657

583

AMEA | Chocolate

706

670

AMEA | Gum & Candy

203

194

AMEA | Beverages

197

180

AMEA | Cheese & Grocery

104

118

Europe

2,935

2,847

Europe | Biscuits

951

810

Europe | Chocolate

1,512

1,544

Europe | Gum & Candy

152

148

Europe | Beverages

Europe | Cheese & Grocery

288

312

North America

2,136

1,977

North America | Biscuits

North America | Chocolate

1,799

1,736

North America | Gum & Candy

North America | Beverages

260

178

North America | Cheese & Grocery