Mondelez International (MDLZ) 10-Q 28 Apr 21 2021 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2021	Apr. 23, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2021
Document Transition Report	false
Entity File Number	1-16483
Entity Registrant Name	Mondelēz International, Inc.
Entity Incorporation, State or Country Code	VA
Entity Tax Identification Number	52-2284372
Entity Address, Address Line One	905 West Fulton Market, Suite 200
Entity Address, City or Town	Chicago,
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60607
City Area Code	847
Local Phone Number	943-4000
Entity Information [Line Items]
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		1,404,711,224
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001103982
Current Fiscal Year End Date	--12-31
Class A Common Stock, no par value
Entity Information [Line Items]
Title of 12(b) Security	Class A Common Stock, no par value
Trading Symbol	MDLZ
Security Exchange Name	NASDAQ
1.625% Notes due 2027
Entity Information [Line Items]
Title of 12(b) Security	1.625% Notes due 2027
Trading Symbol	MDLZ27
Security Exchange Name	NASDAQ
0.250% Notes due 2028
Entity Information [Line Items]
Title of 12(b) Security	0.250% Notes due 2028
Trading Symbol	MDLZ28
Security Exchange Name	NASDAQ
0.750% Notes due 2033
Entity Information [Line Items]
Title of 12(b) Security	0.750% Notes due 2033
Trading Symbol	MDLZ33
Security Exchange Name	NASDAQ
2.375% Notes due 2035
Entity Information [Line Items]
Title of 12(b) Security	2.375% Notes due 2035
Trading Symbol	MDLZ35
Security Exchange Name	NASDAQ
4.500% Notes due 2035
Entity Information [Line Items]
Title of 12(b) Security	4.500% Notes due 2035
Trading Symbol	MDLZ35A
Security Exchange Name	NASDAQ
1.375% Notes due 2041
Entity Information [Line Items]
Title of 12(b) Security	1.375% Notes due 2041
Trading Symbol	MDLZ41
Security Exchange Name	NASDAQ
3.875% Notes due 2045
Entity Information [Line Items]
Title of 12(b) Security	3.875% Notes due 2045
Trading Symbol	MDLZ45
Security Exchange Name	NASDAQ

Condensed Consolidated Statemen

Condensed Consolidated Statements of Earnings - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Statement [Abstract]
Net revenues	$ 7,238	$ 6,707
Cost of sales	4,272	4,256
Gross profit	2,966	2,451
Selling, general and administrative expenses	1,564	1,537
Asset impairment and exit costs	90	15
Gain on acquisition	(9)	0
Amortization of intangibles	38	43
Operating income	1,283	856
Benefit plan non-service income	(44)	(33)
Interest and other expense, net	218	190
Earnings before income taxes	1,109	699
Income tax provision	(212)	(148)
(Loss)/gain on equity method investment transactions	(7)	71
Equity method investment net earnings	78	121
Net earnings	968	743
Noncontrolling interest earnings	(7)	(7)
Net earnings attributable to Mondelēz International	$ 961	$ 736
Per share data:
Basic earnings per share attributable to Mondelēz International (in dollars per share)	$ 0.68	$ 0.51
Diluted earnings per share attributable to Mondelēz International (in dollars per share)	$ 0.68	$ 0.51

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Earnings - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement of Comprehensive Income [Abstract]
Net earnings	$ 968	$ 743
Other comprehensive earnings/(losses), net of tax:
Currency translation adjustment	(136)	(1,371)
Pension and other benefit plans	69	60
Derivative cash flow hedges	2	58
Total other comprehensive earnings/(losses)	(65)	(1,253)
Comprehensive earnings/(losses)	903	(510)
less: Comprehensive earnings/(losses) attributable to noncontrolling interests	(2)	2
Comprehensive earnings/(losses) attributable to Mondelēz International	$ 905	$ (512)

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
ASSETS
Cash and cash equivalents	$ 2,028	$ 3,619
Trade receivables (net of allowances of $40 at March 31, 2021 and $42 at December 31, 2020)	2,655	2,297
Other receivables (net of allowances of $41 at March 31, 2021 and $42 at December 31, 2020)	660	657
Inventories, net	2,635	2,647
Other current assets	865	759
Total current assets	8,843	9,979
Property, plant and equipment, net	8,766	9,026
Operating lease right of use assets	609	638
Goodwill	21,945	21,895
Intangible assets, net	18,527	18,482
Prepaid pension assets	742	672
Deferred income taxes	725	790
Equity method investments	5,916	6,036
Other assets	276	292
TOTAL ASSETS	66,349	67,810
LIABILITIES
Short-term borrowings	674	29
Current portion of long-term debt	1,895	2,741
Accounts payable	6,372	6,209
Accrued marketing	2,136	2,130
Accrued employment costs	670	834
Other current liabilities	2,803	3,216
Total current liabilities	14,550	15,159
Long-term debt	16,961	17,276
Long-term operating lease liabilities	447	470
Deferred income taxes	3,353	3,346
Accrued pension costs	1,161	1,257
Accrued postretirement health care costs	345	346
Other liabilities	2,383	2,302
TOTAL LIABILITIES	39,200	40,156
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, 2021 and December 31, 2020)	0	0
Additional paid-in capital	32,009	32,070
Retained earnings	28,903	28,402
Accumulated other comprehensive losses	(10,746)	(10,690)
Treasury stock, at cost (591,880,718 shares at March 31, 2021 and 577,363,557 shares at December 31, 2020)	(23,091)	(22,204)
Total Mondelēz International Shareholders’ Equity	27,075	27,578
Noncontrolling interest	74	76
TOTAL EQUITY	27,149	27,654
TOTAL LIABILITIES AND EQUITY	$ 66,349	$ 67,810

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Trade receivables, allowances	$ 40	$ 42
Other receivables, allowances	$ 41	$ 42
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)	591,880,718	577,363,557

Condensed Consolidated Statem_3

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, 2019	$ 27,317	$ 0	$ 32,019	$ 26,615	$ (10,254)	$ (21,139)	$ 76
Comprehensive earnings/(losses):
Net earnings	743			736			7
Other comprehensive earnings/(losses), net of income taxes	(1,253)				(1,248)		(5)
Exercise of stock options and issuance of other stock awards	121		(29)	(38)		188
Common Stock repurchased	(701)					(701)
Cash dividends declared	(408)			(408)
Dividends paid on noncontrolling interest and other activities	1			1
Balance at end of period at Mar. 31, 2020	25,820	0	31,990	26,906	(11,502)	(21,652)	78
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
Balance at end of period at Mar. 31, 2021	$ 27,149	$ 0	$ 32,009	$ 28,903	$ (10,746)	$ (23,091)	$ 74

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Equity (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Retained Earnings
Cash dividends declared (in dollars per share)	$ 0.315	$ 0.285

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
CASH PROVIDED BY/(USED IN) OPERATING ACTIVITIES
Net earnings	$ 968	$ 743
Adjustments to reconcile net earnings to operating cash flows:
Depreciation and amortization	284	256
Stock-based compensation expense	25	28
Deferred income tax provision/(benefit)	34	(26)
Asset impairments and accelerated depreciation	43	0
Loss on early extinguishment of debt	110	0
Gain on acquisition	(9)	0
Loss/(gain) on equity method investment transactions	7	(71)
Equity method investment net earnings	(78)	(121)
Distributions from equity method investments	74	165
Other non-cash items, net	(23)	126
Change in assets and liabilities, net of acquisitions:
Receivables, net	(494)	(610)
Inventories, net	(37)	(48)
Accounts payable	283	206
Other current assets	(140)	(217)
Other current liabilities	(55)	(71)
Change in pension and postretirement assets and liabilities, net	(77)	(76)
Net cash provided by operating activities	915	284
CASH PROVIDED BY/(USED IN) INVESTING ACTIVITIES
Capital expenditures	(216)	(214)
Acquisitions, net of cash received	(490)	0
Proceeds from divestitures including equity method investments	0	185
Other	16	(26)
Net cash used in investing activities	(690)	(55)
CASH PROVIDED BY/(USED IN) FINANCING ACTIVITIES
Issuances of commercial paper, maturities greater than 90 days	0	157
Repayments of commercial paper, maturities greater than 90 days	0	(497)
Net issuances of other short-term borrowings	647	2,477
Long-term debt proceeds	2,373	0
Long-term debt repaid	(3,353)	(670)
Repurchase of Common Stock	(1,046)	(720)
Dividends paid	(453)	(409)
Other	51	117
Net cash (used in)/provided by financing activities	(1,781)	455
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(35)	(60)
Cash, cash equivalents and restricted cash:
(Decrease)/Increase	(1,591)	624
Balance at beginning of period	3,650	1,328
Balance at end of period	$ 2,059	$ 1,952

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2021
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, 2020. 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 : We translate the results of operations of our subsidiaries from multiple currencies using average exchange rates during each period and translate balance sheet accounts using exchange rates at the end of each period. We record currency translation adjustments as a component of equity (except for highly inflationary currencies) and realized exchange gains and losses on transactions in earnings. Highly inflationary accounting is triggered when a country’s three-year cumulative inflation rate exceeds 100%. It requires the remeasurement of financial statements of subsidiaries in the country from the functional currency of the subsidiary to our U.S. dollar reporting currency, with currency remeasurement gains or losses recorded in earnings. As discussed below, beginning on July 1, 2018, we began to apply highly inflationary accounting for our operations in Argentina. Argentina. During the second quarter of 2018, primarily based on published estimates that indicated that Argentina's three-year cumulative inflation rate exceeded 100%, we concluded that Argentina became a highly inflationary economy for accounting purposes. As of July 1, 2018, we began to apply highly inflationary accounting for our Argentinean subsidiaries and changed their functional currency from the Argentinean peso to the U.S. dollar. On July 1, 2018, both monetary and non-monetary assets and liabilities denominated in Argentinean pesos were remeasured into U.S. dollars using the exchange rate as of the balance sheet date, with remeasurement and other transaction gains and losses recorded in net earnings. As of March 31, 2021, our Argentinean operations had $5 million of Argentinean peso denominated net monetary assets. Our Argentinean operations contributed $89 million, or 1.2% of consolidated net revenues in the three months ended March 31, 2021. Within selling, general and administrative expenses, we recorded a remeasurement loss of $5 million during the three months ended March 31, 2021 as well as a remeasurement loss of $2 million during the three months ended March 31, 2020 related to the revaluation of the Argentinean peso denominated net monetary position over these periods. Brexit . Following the separation of the United Kingdom from the European Union ("Brexit") in 2020, a new trade arrangement was reached between the U.K. and E.U. that began on January 1, 2021. The main trade provisions include the continuation of no tariffs or quotas on trade between the U.K. and E.U. subject to prescribed trade terms. We also need to meet product and labeling standards for both the U.K. and E.U. Cross-border trade between the U.K. and E.U. is now subject to new customs regulations, documentation and reviews. To comply with the new requirements, we increased resources in customer service and logistics, in our factories, and on our customs support teams. We adapted our processes and systems for the new and increased number of customs transactions. We continue to closely monitor and manage our inventory levels of imported raw materials, packaging and finished goods in the U.K. If the U.K.’s separation from, or new trade arrangements with, the E.U. negatively impact the U.K. economy or result in disagreements on trade terms, delays affecting our supply chain or distribution, or disruptions to sales or collections, the impact to our results of operations, financial condition and cash flows could be material. In the three months ended March 31, 2021, we generated 9.9% of our consolidated net revenues in the U.K. 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 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, except for Argentina which is accounted for as a highly inflationary economy, we do not anticipate any other countries in which we operate to be at risk of becoming highly inflationary countries. Cash, Cash Equivalents and Restricted Cash: Cash and cash equivalents include demand deposits with banks and all highly liquid investments with original maturities of three months or less. We also have restricted cash that is recorded within other current assets of $31 million as of March 31, 2021 and $31 million as of December 31, 2020. Total cash, cash equivalents and restricted cash was $2,059 million as of March 31, 2021 and $3,650 million as of December 31, 2020. 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, 2021 $ (42) $ (42) $ (12) Current period provision for expected credit losses (2) — — Write-offs charged against the allowance 1 1 — Currency 3 — 1 Balance at March 31, 2021 $ (40) $ (41) $ (11) Transfers of Financial Assets: We account for transfers of financial assets, such as uncommitted revolving non-recourse accounts receivable factoring arrangements, when we have surrendered control over the related assets. Determining whether control has transferred requires an evaluation of relevant legal considerations, an assessment of the nature and extent of our continuing involvement with the assets transferred and any other relevant considerations. We use receivable factoring arrangements periodically when circumstances are favorable to manage liquidity. We have non-recourse factoring arrangements in which we sell eligible trade receivables primarily to banks in exchange for cash. We may then continue to collect the receivables sold, acting solely as a collecting agent on behalf of the banks. The outstanding principal amount of receivables under these arrangements amounted to $905 million as of March 31, 2021 and $760 million as of December 31, 2020. 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 $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 and $89 million in operating lease and $25 million in finance lease right-of-use assets obtained in exchange for lease obligations during the three months ended March 31, 2020. New Accounting Pronouncements: In December 2019, the Financial Accounting Standards Board ("FASB") issued an Accounting Standards Update ("ASU") that removes certain exceptions in accounting for income taxes, improves consistency in application and clarifies existing guidance. This ASU is effective for fiscal years beginning after December 15, 2020, with early adoption permitted. On January 1, 2021, we adopted this ASU and it did not have a material impact on our consolidated financial statements. Reclassifications: Certain amounts previously reported have been reclassified to conform to current-year presentation. During the second quarter of 2020, in connection with the JDE Peet's (as defined below) transaction (refer to Note 6, Equity Method Investments

Acquisitions and Divestitures

Acquisitions and Divestitures	3 Months Ended
	Mar. 31, 2021
Business Combinations [Abstract]
Acquisitions and Divestitures	Note 2. Acquisitions and Divestitures On April 1, 2021, we acquired Gourmet Food Holdings Pty Ltd, a leading Australian food company in the premium biscuit and cracker category, for closing cash consideration of approximately $458 million Australian dollars ($348 million). We incurred acquisition-related costs of $1 million during 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 ($260 million), net of cash received. The acquisition of Grenade expands our position into the premium nutrition market. We are working to complete the valuation and have recorded a preliminary purchase price allocation of $81 million to indefinite-lived intangible assets, $24 million to definite-lived intangible assets, $180 million to goodwill, $1 million to property, plant and equipment, $11 million to inventory, $18 million to accounts receivable, $1 million to other current assets, $25 million to current liabilities, $20 million to deferred tax liabilities and $11 million to long-term other liabilities. We incurred acquisition-related costs of $2 million during the three months ended March 31, 2021. On January 4, 2021, we acquired the remaining 93% of equity of Hu Master Holdings, 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 cash 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. We are unable to provide a range of amounts that could be paid as contingent consideration as it is based primarily on revenue and gross margin of the business for the twelve months ended December 31, 2022 and there is not a minimum or maximum payout. 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 are working to complete the valuation and have recorded a preliminary purchase price allocation 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. During the three months ended March 31, 2021, the acquisition added incremental net revenues of $8 million and an operating loss of $6 million. We incurred acquisition-related costs of $4 million during the three months ended March 31, 2021. On April 1, 2020, we acquired a majority interest in Give & Go, a North American leader in fully-finished sweet baked goods and owner of the famous two-bite ® brand of brownies and the Create-A-Treat ® brand, known for cookie and gingerbread house decorating kits. The acquisition of Give & Go provides access to the in-store bakery channel and expands our position in broader snacking. The purchase consideration for Give & Go totaled $1,136 million, net of cash received. We have recorded a preliminary purchase price allocation of net tangible and intangible assets acquired and liabilities assumed as follows: (in millions) Receivables $ 29 Inventory 38 Other current assets 6 Property, plant and equipment 136 Operating right of use assets 61 Definite-life intangible assets 511 Indefinite-life intangible assets 42 Goodwill 531 Assets acquired $ 1,354 Current liabilities 42 Deferred tax liabilities 92 Long-term operating lease liabilities 56 Long-term debt 6 Long-term other liabilities 19 Total purchase price $ 1,139 Less: cash received 3 Net Cash Paid $ 1,136 Within definite-life intangible assets, we allocated $416 million to customer relationships which have an estimated useful life of 17 years. Goodwill 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. The fair value for customer relationships at the acquisition date was determined using the multi-period excess earnings method under the income approach. 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 discounted future cash flows, customer attrition rates and discount rates. The acquisition added incremental net revenues of $106 million and operating income of $6 million in the three months ended March 31, 2021. During the first quarter of 2020, we incurred $5 million of acquisition-related costs.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2021
Inventory Disclosure [Abstract]
Inventories	Note 3. Inventories Inventories consisted of the following: As of March 31, 2021 As of December 31, 2020 (in millions) Raw materials $ 766 $ 718 Finished product 1,990 2,059 2,756 2,777 Inventory reserves (121) (130) Inventories, net $ 2,635 $ 2,647

Property, Plant and Equipment

Property, Plant and Equipment	3 Months Ended
	Mar. 31, 2021
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, 2021 As of December 31, 2020 (in millions) Land and land improvements $ 411 $ 422 Buildings and building improvements 3,196 3,252 Machinery and equipment 11,889 12,053 Construction in progress 616 628 16,112 16,355 Accumulated depreciation (7,346) (7,329) Property, plant and equipment, net $ 8,766 $ 9,026 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. For the three months ended March 31, 2020, capital expenditures of $214 million excluded $259 million of accrued capital expenditures remaining unpaid at March 31, 2020 and included payment for a portion of the $334 million of capital expenditures that were accrued and unpaid at December 31, 2019. 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 2021 2020 (in millions) Latin America $ — $ — AMEA (16) (1) Europe 2 1 North America 54 1 Total $ 40 $ 1

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Note 5. Goodwill and Intangible Assets Goodwill by segment was: As of March 31, 2021 As of December 31, 2020 (in millions) Latin America $ 673 $ 706 AMEA 3,229 3,250 Europe 7,929 8,038 North America 10,114 9,901 Goodwill $ 21,945 $ 21,895 Intangible assets consisted of the following: As of March 31, 2021 As of December 31, 2020 (in millions) Indefinite-life intangible assets $ 17,505 $ 17,492 Definite-life intangible assets 2,956 2,907 20,461 20,399 Accumulated amortization (1,934) (1,917) Intangible assets, net $ 18,527 $ 18,482 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 $38 million for the three months ended March 31, 2021 and $43 million for the three months ended March 31, 2020. For the next five years, we currently estimate annual amortization expense of approximately $130 million in 2021, approximately $120 million in 2022-2024 and approximately $105 million in 2025 (reflecting March 31, 2021 exchange rates). Changes in goodwill and intangible assets consisted of: Goodwill Intangible (in millions) Balance at January 1, 2021 $ 21,895 $ 20,399 Currency (332) (217) Acquisitions 382 279 Balance at March 31, 2021 $ 21,945 $ 20,461 In connection with our acquisitions of Grenade and the remaining interest in Hu Master Holdings during the first quarter of 2021, we recorded a preliminary purchase price allocation of $382 million to goodwill and $279 million to intangible assets. See Note 2, Acquisitions and Divestitures , for additional information. During the first quarters of 2021 and 2020, we evaluated our goodwill and intangible asset impairment risk through an assessment of potential triggering events. In light of the ongoing COVID-19 global pandemic, we considered qualitative and quantitative information in our assessment over indefinite-life intangible assets. Based on the financial performance of our goodwill reporting units and intangible assets and review of other significant fair value assumptions, we concluded that no impairment indicators were present that would require a full impairment assessment. We will continue to monitor the potential for asset impairment risk over coming quarters. In 2020, we recorded $144 million of intangible asset impairment charges related to eight

Equity Method Investments

Equity Method Investments	3 Months Ended
	Mar. 31, 2021
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments	Note 6. Equity Method Investments Equity method investments consist of our investments in entities in which we maintain an equity ownership interest and apply the equity method of accounting due to our ability to exert significant influence over decisions relating to their operating and financial affairs. Revenue and expenses of our equity method investees are not consolidated into our financial statements; rather, our proportionate share of the earnings of each investee is reflected as equity method investment net earnings . The carrying values of our equity method investments are also impacted by our proportionate share of items impacting the investee's accumulated other comprehensive income or losses and other items, such as our share of investee dividends. Our equity method investments include, but are not limited to, our ownership interests in JDE Peet's (Euronext Amsterdam: "JDEP"), Keurig Dr Pepper Inc. (NASDAQ: "KDP"), Dong Suh Foods Corporation and Dong Suh Oil & Fats Co. Ltd. As of March 31, 2021, we owned 22.8%, 8.3%, 50.0% and 49.0%, respectively, of these companies' outstanding shares. Our investments accounted for under the equity method of accounting totaled $5,916 million as of March 31, 2021 and $6,036 million as of December 31, 2020. We recorded equity earnings and cash dividends of $78 million and $74 million in the first quarter of 2021 and equity earnings and cash dividends of $121 million and $165 million in the first quarter of 2020. Based on the quoted closing prices as of March 31, 2021, the combined fair value of our publicly-traded investments in JDEP and KDP was $8.3 billion, and for each investment, its fair value exceeded its carrying value. Keurig Dr Pepper Transactions: On March 4, 2020, we participated in a secondary offering of KDP shares and sold approximately 6.8 million shares, which reduced our ownership interest by 0.5% of the total outstanding shares. We received $185 million of proceeds and recorded a pre-tax gain of $71 million (or $54 million after-tax) during the first quarter of 2020. We hold two director positions on the KDP board as well as additional governance rights. As we continue to have significant influence, we continue to account for our investment in KDP under the equity method, resulting in recognizing our share of their earnings within our earnings and our share of their dividends within our cash flows. JDE Peet’s Transaction: On May 19, 2020, JDE Peet’s B.V. (renamed JDE Peet’s N.V. immediately prior to Settlement (as defined below), “JDE Peet’s”) announced its intention to launch an offering of its ordinary shares (the “offering”) and to apply for admission to listing and trading of all of its ordinary shares on Euronext Amsterdam, a regulated market operated by Euronext Amsterdam N.V. (the “admission”). On May 26, 2020, JDE Peet’s published a prospectus in connection with the offering and the admission. On May 29, 2020, JDE Peet’s announced the final pricing terms of the offering, and JDE Peet’s and the selling shareholders, including us, agreed to sell at a price of €31.50 per ordinary share a total of approximately 82.1 million ordinary shares, including ordinary shares subject to an over-allotment option. The ordinary shares were listed and first traded on May 29, 2020, and payment for, and delivery of, the ordinary shares sold in the offering (excluding ordinary shares subject to the over-allotment option) took place on June 2, 2020 (“Settlement”). Prior to Settlement, we exchanged our 26.4% ownership interest in JDE for a 26.5% equity interest in JDE Peet’s. We did not invest new capital in connection with the transaction and the exchange was accounted for as a change in interest transaction. Upon Settlement, we sold approximately 9.7 million of our ordinary shares in JDE Peet’s in the offering for gross proceeds of €304 million ($343 million). We subsequently sold approximately 1.4 million additional shares and received gross proceeds of €46 million ($51 million) upon exercise of the over-allotment option. Following Settlement and the exercise of the over-allotment option, we held a 22.9% equity interest in JDE Peet’s. As was the case in our ownership interest in JDE, we have significant influence with respect to JDE Peet’s, and we will continue to account for our investment in JDE Peet’s under the equity method, resulting in recognizing our share of JDE Peet’s earnings within our earnings and our share of JDE Peet’s dividends within our cash flows. In the second quarter of 2020, in connection with this transaction, we changed our accounting principle to reflect our share of JDE’s historical and JDE Peet’s ongoing earnings on a one-quarter lag basis, although we continue to record dividends when cash is received. We determined a lag was preferable as it enables us to continue to report our quarterly and annual results on a timely basis, while recording our share of JDE Peet’s ongoing results after JDE Peet’s has publicly reported its results. This change in accounting principle was applied retrospectively to all periods. The following tables show the primary line items on the condensed consolidated statements of earnings and comprehensive earnings and the condensed consolidated balance sheet that changed as a result of the lag. The condensed consolidated statements of cash flow and equity were also updated to reflect these changes. For the Three Months Ended As Reported As Recast (in millions, except per share data) Statements of Earnings Equity method investment net earnings $ 138 $ 121 Net earnings 760 743 Net earnings attributable to 753 736 Earnings per share attributable to Basic EPS $ 0.53 $ 0.51 Diluted EPS $ 0.52 $ 0.51 Statements of Other Comprehensive Earnings Currency translation adjustment $ (1,511) $ (1,371) Pension and other benefit plans 79 60 Derivative cash flow hedges 60 58 Total other comprehensive earnings/(losses) (1,372) (1,253) Comprehensive earnings/(losses) attributable to (614) (512)

Restructuring Program

Restructuring Program	3 Months Ended
	Mar. 31, 2021
Restructuring and Related Activities [Abstract]
Restructuring Program	Note 7. Restructuring Program On May 6, 2014, our Board of Directors approved a $3.5 billion 2014-2018 restructuring program and up to $2.2 billion of capital expenditures. On August 31, 2016, our Board of Directors approved a $600 million reallocation between restructuring program cash costs and capital expenditures so the $5.7 billion program consisted of approximately $4.1 billion of restructuring program charges ($3.1 billion cash costs and $1.0 billion non-cash costs) and up to $1.6 billion of capital expenditures. On September 6, 2018, our Board of Directors approved an extension of the restructuring program through 2022, an increase of $1.3 billion in the program charges and an increase of $700 million in capital expenditures. The total $7.7 billion program now consists of $5.4 billion of program charges ($4.1 billion of cash costs and $1.3 billion of non-cash costs) and total capital expenditures of $2.3 billion to be incurred over the life of the program. The current restructuring program, as increased and extended by these actions, is now called the Simplify to Grow Program. The primary objective of the Simplify to Grow Program is to reduce our operating cost structure in both our supply chain and overhead costs. The program covers severance as well as asset disposals and other manufacturing and procurement-related one-time costs. Since inception, we have incurred total restructuring and implementation charges of $4.8 billion related to the Simplify to Grow Program. We expect to incur the remainder of the program charges by year-end 2022. Restructuring Costs : The Simplify to Grow Program liability activity for the three months ended March 31, 2021 was: Severance Asset Total (in millions) Liability balance, January 1, 2021 $ 304 $ — $ 304 Charges 47 41 88 Cash spent (34) — (34) Non-cash settlements/adjustments 1 (41) (40) Currency (10) — (10) Liability balance, March 31, 2021 $ 308 $ — $ 308 • We recorded restructuring charges of $88 million in the first quarter of 2021 and $15 million in the first quarter of 2020 within asset impairment and exit costs and benefit plan non-service income. • We spent $34 million in the first quarter of 2021 and $37 million in the first quarter of 2020 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 $40 million in the first quarter of 2021 and $3 million in the first quarter of 2020. • At March 31, 2021, $261 million of our net restructuring liability was recorded within other current liabilities and $47 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 $34 million in the first quarter of 2021 and $43 million in the first quarter of 2020. 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, 2021 and March 31, 2020, 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 AMEA Europe North Corporate Total (in millions) 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 For the Three Months Ended March 31, 2020 Restructuring Costs $ 4 $ (1) $ 3 $ 2 $ 7 $ 15 Implementation Costs 7 3 14 10 9 43 Total $ 11 $ 2 $ 17 $ 12 $ 16 $ 58 Total Project (Inception to Date) Restructuring Costs $ 550 $ 537 $ 1,149 $ 593 $ 141 $ 2,970 Implementation Costs 290 231 521 466 347 1,855 Total $ 840 $ 768 $ 1,670 $ 1,059 $ 488 $ 4,825

Debt and Borrowing Arrangements

Debt and Borrowing Arrangements	3 Months Ended
	Mar. 31, 2021
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, 2021 As of December 31, 2020 Amount Weighted- Amount Weighted- (in millions, except percentages) Commercial paper $ 584 0.2 % $ — — % Bank loans 90 5.0 % 29 4.8 % Total short-term borrowings $ 674 $ 29 As of March 31, 2021, commercial paper issued and outstanding had between 6 and 15 days remaining to maturity. Commercial paper borrowings since year end increased to help finance the debt redemption, share repurchases and dividend payments. Our uncommitted credit lines and committed credit lines available as of March 31, 2021 and December 31, 2020 include: As of March 31, 2021 As of December 31, 2020 Facility Amount Borrowed Amount Facility Amount Borrowed Amount (in millions) Uncommitted credit facilities $ 1,488 $ 90 $ 1,487 $ 29 Credit facility expiry (1) : February 24, 2021 — 1,500 — February 23, 2022 2,500 — February 27, 2024 4,500 — 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 $24.6 billion, excluding accumulated other comprehensive earnings/(losses), the cumulative effects of any changes in accounting principles and earnings/(losses) recognized in connection with the ongoing application of any mark-to-market accounting for pensions and other retirement plans. At March 31, 2021, we complied with this covenant as our shareholders' equity, as defined by the covenant, was $37.8 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. Long-Term Debt: Redemptions: On March 31, 2021, we completed an early redemption of Euro and U.S. dollar denominated notes for the following amounts (in millions): Interest Rate Maturity Date Amount Redeemed USD Equivalent 1.000% March 2022 €500 $587 1.625% January 2023 €700 $821 2.125% April 2023 $500 $500 4.000% February 2024 $492 $492 We recorded $137 million of extinguishment loss and debt-related expenses within interest and other expense, net related to $110 million paid in excess of carrying value of the debt and recognizing unamortized discounts and deferred financing in earnings and $27 million foreign currency derivative loss related to the redemption payment at the time of the debt extinguishment. The cash payments related to the redemption were classified as cash outflows from financing activities in the consolidated statement of cash flows. Repayments: During the three months ended March 31, 2021, we repaid the following notes or term loans (in millions): Interest Rate Maturity Date Amount USD Equivalent 2.375% January 2021 €679 $827 Issuances: During the three months ended March 31, 2021, we issued the following notes (in millions): Issuance Date Interest Rate Maturity Date Gross Proceeds (1) Gross Proceeds USD Equivalent March 2021 1.375% March 2041 €650 $777 March 2021 0.750% March 2033 €600 $717 March 2021 0.250% March 2028 €750 $896 (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, 2021 and December 31, 2020 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, 2021 As of December 31, 2020 (in millions) Fair Value $ 20,203 $ 21,568 Carrying Value $ 19,530 $ 20,046 Interest and Other Expense, net: Interest and other expense, net consisted of: For the Three Months Ended 2021 2020 (in millions) Interest expense, debt $ 98 $ 110 Loss on debt extinguishment and related expenses 137 — Loss related to interest rate swaps — 103 Other (income)/expense, net (17) (23) Interest and other expense, net $ 218 $ 190 Other income includes amounts excluded from hedge effectiveness related to our net investment hedge derivative contracts that totaled $20 million in the three months ended March 31, 2021 and $33 million in the three months ended March 31, 2020.

Financial Instruments

Financial Instruments	3 Months Ended
	Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Financial Instruments	Note 9. Financial Instruments Fair Value of Derivative Instruments: Derivative instruments were recorded at fair value in the condensed consolidated balance sheets as follows: As of March 31, 2021 As of December 31, 2020 Asset Liability Asset Liability (in millions) Derivatives designated as accounting hedges: Interest rate contracts $ 13 $ 193 $ 12 $ 340 Net investment hedge derivative contracts (1) 118 58 114 129 $ 131 $ 251 $ 126 $ 469 Derivatives not designated as Currency exchange contracts $ 141 $ 73 $ 134 $ 119 Commodity contracts 249 104 205 128 $ 390 $ 177 $ 339 $ 247 Total fair value $ 521 $ 428 $ 465 $ 716 (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. Derivatives designated as accounting hedges include cash flow and net investment hedge derivative contracts. Our currency exchange and commodity derivative contracts are economic hedges that are not designated as accounting hedges. We record derivative assets and liabilities on a gross basis on our condensed consolidated balance sheets. The fair value of our asset derivatives is recorded within other current assets and the fair value of our liability derivatives is recorded within other current liabilities. The fair values (asset/(liability)) of our derivative instruments were determined using: As of March 31, 2021 Total Quoted Prices in Significant Significant (in millions) Currency exchange contracts $ 68 $ — $ 68 $ — Commodity contracts 145 68 77 — Interest rate contracts (180) — (180) — Net investment hedge contracts 60 — 60 — Total derivatives $ 93 $ 68 $ 25 $ — As of December 31, 2020 Total Quoted Prices in Significant Significant (in millions) Currency exchange contracts $ 15 $ — $ 15 $ — Commodity contracts 77 46 31 — Interest rate contracts (328) — (328) — Net investment hedge contracts (15) — (15) — Total derivatives $ (251) $ 46 $ (297) $ — Level 1 financial assets and liabilities consist of exchange-traded commodity futures and listed options. The fair value of these instruments is determined based on quoted market prices on commodity exchanges. Level 2 financial assets and liabilities consist primarily of over-the-counter (“OTC”) currency exchange forwards, options and swaps; commodity forwards and options; and interest rate swaps. Our currency exchange contracts are valued using an income approach based on observable market forward rates less the contract rate multiplied by the notional amount. Commodity derivatives are valued using an income approach based on the observable market commodity index prices less the contract rate multiplied by the notional amount or based on pricing models that rely on market observable inputs such as commodity prices. Our calculation of the fair value of interest rate swaps is derived from a discounted cash flow analysis based on the terms of the contract and the observable market interest rate curve. Our calculation of the fair value of financial instruments takes into consideration the risk of nonperformance, including counterparty credit risk. Our OTC derivative transactions are governed by International Swap Dealers Association agreements and other standard industry contracts. Under these agreements, we do not post nor require collateral from our counterparties. The majority of our derivative contracts do not have a legal right of set-off. We manage the credit risk in connection with these and all our derivatives by entering into transactions with counterparties with investment grade credit ratings, limiting the amount of exposure with each counterparty and monitoring the financial condition of our counterparties. Derivative Volume: The notional values of our hedging instruments were: Notional Amount As of March 31, 2021 As of December 31, 2020 (in millions) Currency exchange contracts: Intercompany loans and forecasted interest payments $ 2,218 $ 2,184 Forecasted transactions 3,845 4,169 Commodity contracts 6,088 7,947 Interest rate contracts 3,500 3,500 Net investment hedges: Net investment hedge derivative contracts 4,720 4,551 Non-U.S. dollar debt designated as net investment hedges Euro notes 3,737 3,744 British pound sterling notes 363 360 Swiss franc notes 1,102 1,175 Canadian dollar notes 478 472 Cash Flow Hedges: Cash flow hedge activity, net of taxes, within accumulated other comprehensive earnings/(losses) included: For the Three Months Ended 2021 2020 (in millions) Accumulated (loss)/gain at beginning of period $ (161) $ (213) Transfer of realized losses/(gains) in fair value 5 81 Unrealized (loss)/gain in fair value (3) (23) Accumulated (loss)/gain at end of period $ (159) $ (155) After-tax gains/(losses) reclassified from accumulated other comprehensive earnings/(losses) into net earnings were: For the Three Months Ended 2021 2020 (in millions) Interest rate contracts $ (5) $ (81) Within interest and other expense, net, due to changes in forecasted debt, we recognized losses related to forward-starting interest rate swaps of $79 million ($103 million pre-tax) in the three months ended March 31, 2020. After-tax gains/(losses) recognized in other comprehensive earnings/(losses) were: For the Three Months Ended 2021 2020 (in millions) Currency exchange contracts – forecasted transactions $ (1) $ — Interest rate contracts (2) (23) Total $ (3) $ (23) 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 $113 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, 2021, our longest dated cash flow hedges were interest rate swaps that hedge forecasted interest rate payments over the next 3 years and 6 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, 2021 was $4.7 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 2021 2020 (in millions) After-tax gain/(loss) on NIH contracts (1) $ 59 $ 332 (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 2021 2020 (in millions) Amounts excluded from the assessment of hedge effectiveness (1) $ 20 $ 33 (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 2021 2020 (in millions) Euro notes $ 124 $ 42 British pound sterling notes (2) 17 Swiss franc notes 56 (6) Canadian notes (5) 27 Economic Hedges: Pre-tax gains/(losses) recorded in net earnings for economic hedges were: For the Three Months Ended Location of Gain/(Loss) Recognized in Earnings 2021 2020 (in millions) Currency exchange contracts: Intercompany loans and forecasted interest payments $ 70 $ (73) Interest and other expense, net Forecasted transactions 50 26 Cost of sales Forecasted transactions (16) 1 Interest and other expense, net Forecasted transactions 2 (1) Selling, general and administrative expenses Commodity contracts 94 (197) Cost of sales Total $ 200 $ (244)

Benefit Plans

Benefit Plans	3 Months Ended
	Mar. 31, 2021
Retirement Benefits [Abstract]
Benefit Plans	Note 10. Benefit Plans Pension Plans Components of Net Periodic Pension Cost: Net periodic pension cost consisted of the following: U.S. Plans Non-U.S. Plans For the Three Months Ended For the Three Months Ended 2021 2020 2021 2020 (in millions) Service cost $ 2 $ 1 $ 35 $ 30 Interest cost 10 13 29 37 Expected return on plan assets (18) (19) (106) (99) Amortization: Net loss from experience differences 4 4 33 29 Prior service cost/(benefit) — — (2) (2) Settlement losses and other expenses 3 4 — 2 Net periodic pension cost $ 1 $ 3 $ (11) $ (3) Employer Contributions: During the three months ended March 31, 2021, we contributed $3 million to our U.S. pension plans and $63 million to our non-U.S. pension plans, including $31 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, 2021, over the remainder of 2021, we plan to make further contributions of approximately $5 million to our U.S. plans and approximately $165 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. I n connection with the discounted long-term liability, we recorded accreted interest of $3 million in the three months ended March 31, 2021 and in the three months ended March 31, 2020 within interest and other expense, net. As of March 31, 2021, the remaining discounted withdrawal liability was $372 million, with $14 million recorded in other current liabilities and $358 million recorded in long-term other liabilities. Postretirement Benefit Plans Net periodic postretirement health care benefit consisted of the following: For the Three Months Ended 2021 2020 (in millions) Service cost $ 1 $ 1 Interest cost 2 3 Amortization: Net loss from experience differences 1 3 Prior service credit — (8) Net periodic postretirement health care benefit $ 4 $ (1) Postemployment Benefit Plans Net periodic postemployment cost consisted of the following: For the Three Months Ended 2021 2020 (in millions) Service cost $ 1 $ 1 Interest cost 1 1 Amortization of net gains (1) (1) Net periodic postemployment cost $ 1 $ 1

Stock Plans

Stock Plans	3 Months Ended
	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
Stock Plans	Note 11. Stock Plans Stock Options: Stock option activity is reflected below: Shares Subject Weighted- Average Aggregate Balance at January 1, 2021 27,751,894 $39.51 5 years $ 527 million Annual grant to eligible employees 2,412,080 56.13 Additional options issued 48,170 57.09 Total options granted 2,460,250 56.15 Options exercised (1) (1,734,108) 29.72 $ 46 million Options canceled (222,648) 44.57 Balance at March 31, 2021 28,255,388 41.52 6 years $ 482 million (1) Cash received from options exercised was $67 million in the three months ended March 31, 2021. The actual tax benefit realized and recorded in the provision for income taxes for the tax deductions from the option exercises totaled $7 million in the three months ended March 31, 2021. 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 Grant Date Weighted-Average Fair Value Per Share (3) Weighted-Average Aggregate Fair Value (3) Balance at January 1, 2021 4,896,990 $53.80 Annual grant to eligible employees: Feb 18, 2021 Performance share units 903,250 59.35 Deferred stock units 549,710 56.13 Additional shares granted (1) 1,043,632 Various 52.99 Total shares granted 2,496,592 55.98 $ 140 million Vested (2) (2,291,494) 49.80 $ 114 million Forfeited (126,925) 56.45 Balance at March 31, 2021 4,975,163 56.67 (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 $6 million in the three months ended March 31, 2021. (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, 2021, we had repurchased approximately $18.0 billion of Common Stock pursuant to this authorization. During the three months ended March 31, 2021, we repurchased approximately 18.2 million shares of Common Stock at an average cost of $55.97 per share, or an aggregate cost of approximately $1.0 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, 2021, we have $4.7 billion in remaining share repurchase capacity.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 12. Commitments and Contingencies Legal Proceedings: We routinely are involved in legal proceedings, claims, disputes, regulatory matters and governmental inspections or investigations arising in the ordinary course of or incidental to our business, including those noted below in this section. We record provisions in the consolidated financial statements for pending litigation when we determine that an unfavorable outcome is probable and the amount of the loss can be reasonably estimated. For matters we have not provided for that are reasonably possible to result in an unfavorable outcome, management is unable to estimate the possible loss or range of loss or such amounts have been determined to be immaterial. At present we believe that the ultimate outcome of these proceedings, individually and in the aggregate, will not materially harm our financial position, results of operations or cash flows. However, legal proceedings and government investigations are subject to inherent uncertainties, and unfavorable rulings or other events could occur. Unfavorable resolutions could involve substantial monetary damages. In addition, in matters for which conduct remedies are sought, unfavorable resolutions could include an injunction or other order prohibiting us from selling one or more products at all or in particular ways, precluding particular business practices or requiring other remedies. An unfavorable outcome might result in a material adverse impact on our business, results of operations or financial position. On April 1, 2015, the U.S. Commodity Futures Trading Commission ("CFTC") filed a complaint against Kraft Foods Group and Mondelēz Global LLC (“Mondelēz Global”) in the U.S. District Court for the Northern District of Illinois (the "District Court"), Eastern Division (the “CFTC action”) following its investigation of activities related to the trading of December 2011 wheat futures contracts that occurred prior to the spin-off of Kraft Foods Group. The complaint alleges that Kraft Foods Group and Mondelēz Global (1) manipulated or attempted to manipulate the wheat markets during the fall of 2011; (2) violated position limit levels for wheat futures and (3) engaged in non-competitive trades by trading both sides of exchange-for-physical Chicago Board of Trade wheat contracts. The CFTC seeks civil monetary penalties of either triple the monetary gain for each violation of the Commodity Exchange Act (the “Act”) or $1 million for each violation of Section 6(c)(1), 6(c)(3) or 9(a)(2) of the Act and $140,000 for each additional violation of the Act, plus post-judgment interest; an order of permanent injunction prohibiting Kraft Foods Group and Mondelēz Global from violating specified provisions of the Act; disgorgement of profits; and costs and fees. On August 15, 2019, the District Court approved a settlement agreement between the CFTC and Mondelēz Global. The terms of the settlement, which are available in the District Court’s docket, had an immaterial impact on our financial position, results of operations and cash flows. On October 23, 2019, following a ruling by the United States Court of Appeals for the Seventh Circuit regarding Mondelēz Global's allegations that the CFTC and its Commissioners violated certain terms of the settlement agreement and the CFTC's argument that the Commissioners were not bound by the terms of the settlement agreement, the District Court vacated the settlement agreement and reinstated all pending motions that the District Court had previously mooted as a result of the settlement. The parties have reached a new agreement in principle to resolve the CFTC action and have submitted the settlement to the District Court for approval. The District Court cancelled a scheduled conference on June 4, 2020 to discuss the proposed settlement agreement but indicated that it would rule on pending motions in due course . Additionally, several class action complaints were filed against Kraft Foods Group and Mondelēz Global in the District Court by investors in wheat futures and options on behalf of themselves and others similarly situated. The complaints make similar allegations as those made in the CFTC action, and the plaintiffs are seeking class action certification; monetary damages, interest and unjust enrichment; costs and fees; and injunctive, declaratory and other unspecified relief. In June 2015, these suits were consolidated in the District Court. On January 3, 2020, the District Court granted plantiffs' request to certify a class. It is not possible to predict the outcome of these matters; however, based on our Separation and Distribution Agreement with Kraft Foods Group dated as of September 27, 2012, we expect to bear any monetary penalties or other payments in connection with the CFTC action 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 their investigation proceeds. It is not possible to predict how long the investigation will take or the ultimate outcome of this matter. Third-Party Guarantees: We enter into third-party guarantees primarily to cover long-term obligations of our vendors. As part of these transactions, we guarantee that third parties will make contractual payments or achieve performance measures. At March 31, 2021, 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 Accumula

Reclassifications from Accumulated Other Comprehensive Income	3 Months Ended
	Mar. 31, 2021
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 $34 million in the first three months of 2021 and $104 million in the first three months of 2020. For the Three Months Ended 2021 2020 (in millions) Currency Translation Adjustments: Balance at beginning of period $ (8,655) $ (8,320) Currency translation adjustments (134) (1,281) Tax (expense)/benefit (2) (90) Other comprehensive earnings/(losses) (136) (1,371) Less: other comprehensive (earnings)/loss attributable to noncontrolling interests 9 5 Balance at end of period (8,782) (9,686) Pension and Other Benefit Plans: Balance at beginning of period $ (1,874) $ (1,721) Net actuarial gain/(loss) arising during period (1) (22) Losses/(gains) reclassified into net earnings: Amortization of experience losses and prior service costs (1) 35 25 Settlement losses and other expenses 3 6 Tax expense/(benefit) on reclassifications (2) (9) (8) Currency impact 41 59 Other comprehensive earnings/(losses) 69 60 Balance at end of period (1,805) (1,661) Derivative Cash Flow Hedges: Balance at beginning of period $ (161) $ (213) Net derivative gains/(losses) (7) (40) Tax (expense)/benefit on net derivative gain/(loss) 1 15 Losses/(gains) reclassified into net earnings: Interest rate contracts (3) 6 105 Tax expense/(benefit) on reclassifications (2) (1) (24) Currency impact 3 2 Other comprehensive earnings/(losses) 2 58 Balance at end of period (159) (155) Accumulated other comprehensive income Balance at beginning of period $ (10,690) $ (10,254) Total other comprehensive earnings/(losses) (65) (1,253) Less: other comprehensive (earnings)/loss attributable to noncontrolling interests 9 5 Other comprehensive earnings/(losses) attributable to Mondelēz International (56) (1,248) Balance at end of period $ (10,746) $ (11,502) (1) These reclassified losses are included in net periodic benefit costs disclosed in Note 10, Benefit Plans . (2) Taxes reclassified to earnings are recorded within the provision for income taxes. (3) These reclassified gains or losses are recorded within interest and other expense, net.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Note 14. Income Taxes As of the first quarter of 2021, our estimated annual effective tax rate, which excludes 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. As of the first quarter of 2020, 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, 2020 of 21.2% was favorably impacted by discrete net tax benefits of $28 million, primarily driven by a $22 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.

Earnings per Share

Earnings per Share	3 Months Ended
	Mar. 31, 2021
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 2021 2020 (in millions, except per share data) Net earnings $ 968 $ 743 Noncontrolling interest earnings (7) (7) Net earnings attributable to $ 961 $ 736 Weighted-average shares for basic EPS 1,412 1,434 Plus incremental shares from assumed conversions 10 11 Weighted-average shares for diluted EPS 1,422 1,445 Basic earnings per share attributable to $ 0.68 $ 0.51 Diluted earnings per share attributable to $ 0.68 $ 0.51 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 3.6 million in the first three months of 2021 and 4.0 million in the first three months of 2020.

Segment Reporting

Segment Reporting	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Segment Reporting	Note 16. Segment Reporting We manufacture and market primarily snack food products, including biscuits (cookies, crackers and salted snacks), chocolate, gum & candy and various cheese & grocery products, as well as powdered beverage products. We manage our global business and report operating results through geographic units. We manage our operations by region to leverage regional operating scale, manage different and changing business environments more effectively and pursue growth opportunities as they arise across our key markets. Our regional management teams have responsibility for the business, product categories and financial results in the regions. Our operations and management structure are organized into four operating segments: • Latin America • AMEA • Europe • North America We use segment operating income to evaluate segment performance and allocate resources. We believe it is appropriate to disclose this measure to help investors analyze segment performance and trends. Segment operating income excludes unrealized gains and losses on hedging activities (which are a component of cost of sales), general corporate expenses (which are a component of selling, general and administrative expenses), amortization of intangibles, gains and losses on divestitures and acquisition-related costs (which are a component of selling, general and administrative expenses) in all periods presented. We exclude these items from segment operating income in order to provide better transparency of our segment operating results. Furthermore, we centrally manage benefit plan non-service income and interest and other expense, net. Accordingly, we do not present these items by segment because they are excluded from the segment profitability measure that management reviews. Our segment net revenues and earnings were: For the Three Months Ended 2021 2020 (in millions) Net revenues: Latin America $ 669 $ 726 AMEA 1,745 1,502 Europe 2,847 2,584 North America 1,977 1,895 Net revenues $ 7,238 $ 6,707 Earnings before income taxes: Operating income: Latin America $ 76 $ 78 AMEA 362 234 Europe 557 472 North America 270 381 Unrealized gains/(losses) on hedging activities 118 (185) General corporate expenses (64) (76) Amortization of intangibles (38) (43) Gain on acquisition 9 — Acquisition-related costs (7) (5) Operating income 1,283 856 Benefit plan non-service income 44 33 Interest and other expense, net (218) (190) Earnings before income taxes $ 1,109 $ 699 Items impacting our segment operating results are discussed in Note 1, Basis of Presentation , Note 2, Acquisitions and Divestitures, Note 4, Property, Plant and Equipment, Note 5, Goodwill and Intangible Assets, and Note 7, Restructuring Program . Also see Note 8, Debt and Borrowing Arrangements , and Note 9, Financial Instruments, for more information on our interest and other expense, net for each period. Net revenues by product category were: For the Three Months Ended March 31, 2021 Latin AMEA Europe North Total (in millions) Biscuits $ 177 $ 583 $ 802 $ 1,736 $ 3,298 Chocolate 192 670 1,552 63 2,477 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 For the Three Months Ended March 31, 2020 Latin AMEA Europe North Total (in millions) Biscuits $ 174 $ 508 $ 746 $ 1,598 $ 3,026 Chocolate 194 543 1,363 56 2,156 Gum & Candy 182 185 173 241 781 Beverages 102 171 25 — 298 Cheese & Grocery 74 95 277 — 446 Total net revenues $ 726 $ 1,502 $ 2,584 $ 1,895 $ 6,707

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2021
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, 2020.
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 transactions in earnings. Highly inflationary accounting is triggered when a country’s three-year cumulative inflation rate exceeds 100%. It requires the remeasurement of financial statements of subsidiaries in the country from the functional currency of the subsidiary to our U.S. dollar reporting currency, with currency remeasurement gains or losses recorded in earnings. As discussed below, beginning on July 1, 2018, we began to apply highly inflationary accounting for our operations in Argentina. Argentina. During the second quarter of 2018, primarily based on published estimates that indicated that Argentina's three-year cumulative inflation rate exceeded 100%, we concluded that Argentina became a highly inflationary economy for accounting purposes. As of July 1, 2018, we began to apply highly inflationary accounting for our Argentinean subsidiaries and changed their functional currency from the Argentinean peso to the U.S. dollar. On July 1, 2018, both monetary and non-monetary assets and liabilities denominated in Argentinean pesos were remeasured into U.S. dollars using the exchange rate as of the balance sheet date, with remeasurement and other transaction gains and losses recorded in net earnings. As of March 31, 2021, our Argentinean operations had $5 million of Argentinean peso denominated net monetary assets. Our Argentinean operations contributed $89 million, or 1.2% of consolidated net revenues in the three months ended March 31, 2021. Within selling, general and administrative expenses, we recorded a remeasurement loss of $5 million during the three months ended March 31, 2021 as well as a remeasurement loss of $2 million during the three months ended March 31, 2020 related to the revaluation of the Argentinean peso denominated net monetary position over these periods. Brexit . Following the separation of the United Kingdom from the European Union ("Brexit") in 2020, a new trade arrangement was reached between the U.K. and E.U. that began on January 1, 2021. The main trade provisions include the continuation of no tariffs or quotas on trade between the U.K. and E.U. subject to prescribed trade terms. We also need to meet product and labeling standards for both the U.K. and E.U. Cross-border trade between the U.K. and E.U. is now subject to new customs regulations, documentation and reviews. To comply with the new requirements, we increased resources in customer service and logistics, in our factories, and on our customs support teams. We adapted our processes and systems for the new and increased number of customs transactions. We continue to closely monitor and manage our inventory levels of imported raw materials, packaging and finished goods in the U.K. If the U.K.’s separation from, or new trade arrangements with, the E.U. negatively impact the U.K. economy or result in disagreements on trade terms, delays affecting our supply chain or distribution, or disruptions to sales or collections, the impact to our results of operations, financial condition and cash flows could be material. In the three months ended March 31, 2021, we generated 9.9% of our consolidated net revenues in the U.K. 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 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, except for Argentina which is accounted for as a highly inflationary economy, we do not anticipate any other countries in which we operate to be at risk of becoming highly inflationary countries.
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents and Restricted Cash:Cash and cash equivalents include demand deposits with banks and all highly liquid investments with original maturities of three months or less.
Allowances for Credit Losses	Allowances for Credit Losses: The allowances for credit losses are recorded against our receivables. They are developed at a country and region level based on historical collection experiences, current economic condition of specific customers and the forecasted economic condition of countries using various factors such as bond default rates and consumption indexes. We write off receivables once it is determined that the receivables are no longer collectible and as allowed by local laws.
Transfers of Financial Assets	Transfers of Financial Assets: We account for transfers of financial assets, such as uncommitted revolving non-recourse accounts receivable factoring arrangements, when we have surrendered control over the related assets. Determining whether control has transferred requires an evaluation of relevant legal considerations, an assessment of the nature and extent of our continuing involvement with the assets transferred and any other relevant considerations. We use receivable factoring arrangements periodically when circumstances are favorable to manage liquidity. We have non-recourse factoring arrangements in which we sell eligible trade receivables primarily to banks in exchange for cash. We may then continue to collect the receivables sold, acting solely as a collecting agent on behalf of the banks. The outstanding principal amount of receivables under these arrangements amounted to $905 million as of March 31, 2021 and $760 million as of December 31, 2020. The incremental cost of factoring receivables under this arrangement was not material for all periods presented. The proceeds from the sales of receivables are included in cash from operating activities in the condensed consolidated statements of cash flows.
New Accounting Pronouncements	New Accounting Pronouncements: In December 2019, the Financial Accounting Standards Board ("FASB") issued an Accounting Standards Update ("ASU") that removes certain exceptions in accounting for income taxes, improves consistency in application and
Reclassifications	Reclassifications: Certain amounts previously reported have been reclassified to conform to current-year presentation. During the second quarter of 2020, in connection with the JDE Peet's (as defined below) transaction (refer to Note 6, Equity Method Investments

Basis of Presentation Basis of

Basis of Presentation Basis of Presentation (Tables)	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Schedule of Changes in Allowances for Credit Losses	Changes in allowances for credit losses consisted of: Allowance for Trade Receivables Allowance for Other Current Receivables Allowance for Long-Term Receivables (in millions) Balance at January 1, 2021 $ (42) $ (42) $ (12) Current period provision for expected credit losses (2) — — Write-offs charged against the allowance 1 1 — Currency 3 — 1 Balance at March 31, 2021 $ (40) $ (41) $ (11)

Acquisitions and Divestitures (

Acquisitions and Divestitures (Tables)	3 Months Ended
	Mar. 31, 2021
Business Combinations [Abstract]
Schedule of Preliminary Purchase Price Allocation of Net Tangible and Intangible Assets Acquired and Liabilities Assumed	We have recorded a preliminary purchase price allocation of net tangible and intangible assets acquired and liabilities assumed as follows: (in millions) Receivables $ 29 Inventory 38 Other current assets 6 Property, plant and equipment 136 Operating right of use assets 61 Definite-life intangible assets 511 Indefinite-life intangible assets 42 Goodwill 531 Assets acquired $ 1,354 Current liabilities 42 Deferred tax liabilities 92 Long-term operating lease liabilities 56 Long-term debt 6 Long-term other liabilities 19 Total purchase price $ 1,139 Less: cash received 3 Net Cash Paid $ 1,136

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2021
Inventory Disclosure [Abstract]
Schedule of Components of Inventories	Inventories consisted of the following: As of March 31, 2021 As of December 31, 2020 (in millions) Raw materials $ 766 $ 718 Finished product 1,990 2,059 2,756 2,777 Inventory reserves (121) (130) Inventories, net $ 2,635 $ 2,647

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	3 Months Ended
	Mar. 31, 2021
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, 2021 As of December 31, 2020 (in millions) Land and land improvements $ 411 $ 422 Buildings and building improvements 3,196 3,252 Machinery and equipment 11,889 12,053 Construction in progress 616 628 16,112 16,355 Accumulated depreciation (7,346) (7,329) Property, plant and equipment, net $ 8,766 $ 9,026
Schedule of Restructuring Charges Related to Property, Plant and Equipment	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 2021 2020 (in millions) Latin America $ — $ — AMEA (16) (1) Europe 2 1 North America 54 1 Total $ 40 $ 1 During the three months ended March 31, 2021 and March 31, 2020, 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 AMEA Europe North Corporate Total (in millions) 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 For the Three Months Ended March 31, 2020 Restructuring Costs $ 4 $ (1) $ 3 $ 2 $ 7 $ 15 Implementation Costs 7 3 14 10 9 43 Total $ 11 $ 2 $ 17 $ 12 $ 16 $ 58 Total Project (Inception to Date) Restructuring Costs $ 550 $ 537 $ 1,149 $ 593 $ 141 $ 2,970 Implementation Costs 290 231 521 466 347 1,855 Total $ 840 $ 768 $ 1,670 $ 1,059 $ 488 $ 4,825

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill by Segment	Goodwill by segment was: As of March 31, 2021 As of December 31, 2020 (in millions) Latin America $ 673 $ 706 AMEA 3,229 3,250 Europe 7,929 8,038 North America 10,114 9,901 Goodwill $ 21,945 $ 21,895
Schedule of Intangible Assets Disclosure	Intangible assets consisted of the following: As of March 31, 2021 As of December 31, 2020 (in millions) Indefinite-life intangible assets $ 17,505 $ 17,492 Definite-life intangible assets 2,956 2,907 20,461 20,399 Accumulated amortization (1,934) (1,917) Intangible assets, net $ 18,527 $ 18,482
Schedule of Changes in Goodwill and Intangible Assets	Changes in goodwill and intangible assets consisted of: Goodwill Intangible (in millions) Balance at January 1, 2021 $ 21,895 $ 20,399 Currency (332) (217) Acquisitions 382 279 Balance at March 31, 2021 $ 21,945 $ 20,461

Equity Method Investments (Tabl

Equity Method Investments (Tables)	3 Months Ended
	Mar. 31, 2021
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Impact of Change in Accounting Principle on Consolidated Financial Statements	The following tables show the primary line items on the condensed consolidated statements of earnings and comprehensive earnings and the condensed consolidated balance sheet that changed as a result of the lag. The condensed consolidated statements of cash flow and equity were also updated to reflect these changes. For the Three Months Ended As Reported As Recast (in millions, except per share data) Statements of Earnings Equity method investment net earnings $ 138 $ 121 Net earnings 760 743 Net earnings attributable to 753 736 Earnings per share attributable to Basic EPS $ 0.53 $ 0.51 Diluted EPS $ 0.52 $ 0.51 Statements of Other Comprehensive Earnings Currency translation adjustment $ (1,511) $ (1,371) Pension and other benefit plans 79 60 Derivative cash flow hedges 60 58 Total other comprehensive earnings/(losses) (1,372) (1,253) Comprehensive earnings/(losses) attributable to (614) (512)

Restructuring Program (Tables)

Restructuring Program (Tables)	3 Months Ended
	Mar. 31, 2021
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Program Liability	The Simplify to Grow Program liability activity for the three months ended March 31, 2021 was: Severance Asset Total (in millions) Liability balance, January 1, 2021 $ 304 $ — $ 304 Charges 47 41 88 Cash spent (34) — (34) Non-cash settlements/adjustments 1 (41) (40) Currency (10) — (10) Liability balance, March 31, 2021 $ 308 $ — $ 308
Schedule of Restructuring and Implementation Costs by Segment	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 2021 2020 (in millions) Latin America $ — $ — AMEA (16) (1) Europe 2 1 North America 54 1 Total $ 40 $ 1 During the three months ended March 31, 2021 and March 31, 2020, 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 AMEA Europe North Corporate Total (in millions) 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 For the Three Months Ended March 31, 2020 Restructuring Costs $ 4 $ (1) $ 3 $ 2 $ 7 $ 15 Implementation Costs 7 3 14 10 9 43 Total $ 11 $ 2 $ 17 $ 12 $ 16 $ 58 Total Project (Inception to Date) Restructuring Costs $ 550 $ 537 $ 1,149 $ 593 $ 141 $ 2,970 Implementation Costs 290 231 521 466 347 1,855 Total $ 840 $ 768 $ 1,670 $ 1,059 $ 488 $ 4,825

Debt and Borrowing Arrangemen_2

Debt and Borrowing Arrangements (Tables)	3 Months Ended
	Mar. 31, 2021
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, 2021 As of December 31, 2020 Amount Weighted- Amount Weighted- (in millions, except percentages) Commercial paper $ 584 0.2 % $ — — % Bank loans 90 5.0 % 29 4.8 % Total short-term borrowings $ 674 $ 29
Schedule of Uncommitted and Committed Credit Lines Available	Our uncommitted credit lines and committed credit lines available as of March 31, 2021 and December 31, 2020 include: As of March 31, 2021 As of December 31, 2020 Facility Amount Borrowed Amount Facility Amount Borrowed Amount (in millions) Uncommitted credit facilities $ 1,488 $ 90 $ 1,487 $ 29 Credit facility expiry (1) : February 24, 2021 — 1,500 — February 23, 2022 2,500 — February 27, 2024 4,500 — 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 $24.6 billion, excluding accumulated other comprehensive earnings/(losses), the cumulative effects of any changes in
Schedule of Debt Redemptions	Redemptions: On March 31, 2021, we completed an early redemption of Euro and U.S. dollar denominated notes for the following amounts (in millions): Interest Rate Maturity Date Amount Redeemed USD Equivalent 1.000% March 2022 €500 $587 1.625% January 2023 €700 $821 2.125% April 2023 $500 $500 4.000% February 2024 $492 $492
Schedule of Debt Repayments	Repayments: During the three months ended March 31, 2021, we repaid the following notes or term loans (in millions): Interest Rate Maturity Date Amount USD Equivalent 2.375% January 2021 €679 $827
Schedule of Debt Issuances	During the three months ended March 31, 2021, we issued the following notes (in millions): Issuance Date Interest Rate Maturity Date Gross Proceeds (1) Gross Proceeds USD Equivalent March 2021 1.375% March 2041 €650 $777 March 2021 0.750% March 2033 €600 $717 March 2021 0.250% March 2028 €750 $896 (1) Represents gross proceeds from the issuance of notes excluding debt issuance costs, discounts and premiums.
Schedule of Fair Value of Debt	The fair value of our short-term borrowings at March 31, 2021 and December 31, 2020 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, 2021 As of December 31, 2020 (in millions) Fair Value $ 20,203 $ 21,568 Carrying Value $ 19,530 $ 20,046
Schedule of Interest and Other Expense	Interest and other expense, net consisted of: For the Three Months Ended 2021 2020 (in millions) Interest expense, debt $ 98 $ 110 Loss on debt extinguishment and related expenses 137 — Loss related to interest rate swaps — 103 Other (income)/expense, net (17) (23) Interest and other expense, net $ 218 $ 190

Financial Instruments (Tables)

Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2021
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 Location of Gain/(Loss) Recognized in Earnings 2021 2020 (in millions) Currency exchange contracts: Intercompany loans and forecasted interest payments $ 70 $ (73) Interest and other expense, net Forecasted transactions 50 26 Cost of sales Forecasted transactions (16) 1 Interest and other expense, net Forecasted transactions 2 (1) Selling, general and administrative expenses Commodity contracts 94 (197) Cost of sales Total $ 200 $ (244)
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 2021 2020 (in millions) Accumulated (loss)/gain at beginning of period $ (161) $ (213) Transfer of realized losses/(gains) in fair value 5 81 Unrealized (loss)/gain in fair value (3) (23) Accumulated (loss)/gain at end of period $ (159) $ (155)
Schedule of Effects of Derivative Instruments	After-tax gains/(losses) reclassified from accumulated other comprehensive earnings/(losses) into net earnings were: For the Three Months Ended 2021 2020 (in millions) Interest rate contracts $ (5) $ (81) Within interest and other expense, net, due to changes in forecasted debt, we recognized losses related to forward-starting interest rate swaps of $79 million ($103 million pre-tax) in the three months ended March 31, 2020. After-tax gains/(losses) recognized in other comprehensive earnings/(losses) were: For the Three Months Ended 2021 2020 (in millions) Currency exchange contracts – forecasted transactions $ (1) $ — Interest rate contracts (2) (23) Total $ (3) $ (23)
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 2021 2020 (in millions) After-tax gain/(loss) on NIH contracts (1) $ 59 $ 332 (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 2021 2020 (in millions) Amounts excluded from the assessment of hedge effectiveness (1) $ 20 $ 33 (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. 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 2021 2020 (in millions) Euro notes $ 124 $ 42 British pound sterling notes (2) 17 Swiss franc notes 56 (6) Canadian notes (5) 27
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, 2021 As of December 31, 2020 Asset Liability Asset Liability (in millions) Derivatives designated as accounting hedges: Interest rate contracts $ 13 $ 193 $ 12 $ 340 Net investment hedge derivative contracts (1) 118 58 114 129 $ 131 $ 251 $ 126 $ 469 Derivatives not designated as Currency exchange contracts $ 141 $ 73 $ 134 $ 119 Commodity contracts 249 104 205 128 $ 390 $ 177 $ 339 $ 247 Total fair value $ 521 $ 428 $ 465 $ 716 (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.
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, 2021 Total Quoted Prices in Significant Significant (in millions) Currency exchange contracts $ 68 $ — $ 68 $ — Commodity contracts 145 68 77 — Interest rate contracts (180) — (180) — Net investment hedge contracts 60 — 60 — Total derivatives $ 93 $ 68 $ 25 $ — As of December 31, 2020 Total Quoted Prices in Significant Significant (in millions) Currency exchange contracts $ 15 $ — $ 15 $ — Commodity contracts 77 46 31 — Interest rate contracts (328) — (328) — Net investment hedge contracts (15) — (15) — Total derivatives $ (251) $ 46 $ (297) $ —
Schedule of Notional Values of Derivative Instruments	The notional values of our hedging instruments were: Notional Amount As of March 31, 2021 As of December 31, 2020 (in millions) Currency exchange contracts: Intercompany loans and forecasted interest payments $ 2,218 $ 2,184 Forecasted transactions 3,845 4,169 Commodity contracts 6,088 7,947 Interest rate contracts 3,500 3,500 Net investment hedges: Net investment hedge derivative contracts 4,720 4,551 Non-U.S. dollar debt designated as net investment hedges Euro notes 3,737 3,744 British pound sterling notes 363 360 Swiss franc notes 1,102 1,175 Canadian dollar notes 478 472

Benefit Plans (Tables)

Benefit Plans (Tables)	3 Months Ended
	Mar. 31, 2021
Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Schedule of Components of Net Benefit Costs	Net periodic pension cost consisted of the following: U.S. Plans Non-U.S. Plans For the Three Months Ended For the Three Months Ended 2021 2020 2021 2020 (in millions) Service cost $ 2 $ 1 $ 35 $ 30 Interest cost 10 13 29 37 Expected return on plan assets (18) (19) (106) (99) Amortization: Net loss from experience differences 4 4 33 29 Prior service cost/(benefit) — — (2) (2) Settlement losses and other expenses 3 4 — 2 Net periodic pension cost $ 1 $ 3 $ (11) $ (3)
Postretirement Benefit Plans
Defined Benefit Plan Disclosure [Line Items]
Schedule of Components of Net Benefit Costs	Net periodic postretirement health care benefit consisted of the following: For the Three Months Ended 2021 2020 (in millions) Service cost $ 1 $ 1 Interest cost 2 3 Amortization: Net loss from experience differences 1 3 Prior service credit — (8) Net periodic postretirement health care benefit $ 4 $ (1)
Postemployment Benefit Plans
Defined Benefit Plan Disclosure [Line Items]
Schedule of Components of Net Benefit Costs	Net periodic postemployment cost consisted of the following: For the Three Months Ended 2021 2020 (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)

Stock Plans (Tables)	3 Months Ended
	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of Stock Options Activity	Stock option activity is reflected below: Shares Subject Weighted- Average Aggregate Balance at January 1, 2021 27,751,894 $39.51 5 years $ 527 million Annual grant to eligible employees 2,412,080 56.13 Additional options issued 48,170 57.09 Total options granted 2,460,250 56.15 Options exercised (1) (1,734,108) 29.72 $ 46 million Options canceled (222,648) 44.57 Balance at March 31, 2021 28,255,388 41.52 6 years $ 482 million (1) Cash received from options exercised was $67 million in the three months ended March 31, 2021. The actual tax benefit realized and recorded in the provision for income taxes for the tax deductions from the option exercises totaled $7 million in the three months ended March 31, 2021.
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 Grant Date Weighted-Average Fair Value Per Share (3) Weighted-Average Aggregate Fair Value (3) Balance at January 1, 2021 4,896,990 $53.80 Annual grant to eligible employees: Feb 18, 2021 Performance share units 903,250 59.35 Deferred stock units 549,710 56.13 Additional shares granted (1) 1,043,632 Various 52.99 Total shares granted 2,496,592 55.98 $ 140 million Vested (2) (2,291,494) 49.80 $ 114 million Forfeited (126,925) 56.45 Balance at March 31, 2021 4,975,163 56.67 (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 $6 million in the three months ended March 31, 2021.

Reclassifications from Accumu_2

Reclassifications from Accumulated Other Comprehensive Income (Tables)	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
Schedule of Amounts Reclassified from Accumulated Other Comprehensive Earnings/(Losses)	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 $34 million in the first three months of 2021 and $104 million in the first three months of 2020. For the Three Months Ended 2021 2020 (in millions) Currency Translation Adjustments: Balance at beginning of period $ (8,655) $ (8,320) Currency translation adjustments (134) (1,281) Tax (expense)/benefit (2) (90) Other comprehensive earnings/(losses) (136) (1,371) Less: other comprehensive (earnings)/loss attributable to noncontrolling interests 9 5 Balance at end of period (8,782) (9,686) Pension and Other Benefit Plans: Balance at beginning of period $ (1,874) $ (1,721) Net actuarial gain/(loss) arising during period (1) (22) Losses/(gains) reclassified into net earnings: Amortization of experience losses and prior service costs (1) 35 25 Settlement losses and other expenses 3 6 Tax expense/(benefit) on reclassifications (2) (9) (8) Currency impact 41 59 Other comprehensive earnings/(losses) 69 60 Balance at end of period (1,805) (1,661) Derivative Cash Flow Hedges: Balance at beginning of period $ (161) $ (213) Net derivative gains/(losses) (7) (40) Tax (expense)/benefit on net derivative gain/(loss) 1 15 Losses/(gains) reclassified into net earnings: Interest rate contracts (3) 6 105 Tax expense/(benefit) on reclassifications (2) (1) (24) Currency impact 3 2 Other comprehensive earnings/(losses) 2 58 Balance at end of period (159) (155) Accumulated other comprehensive income Balance at beginning of period $ (10,690) $ (10,254) Total other comprehensive earnings/(losses) (65) (1,253) Less: other comprehensive (earnings)/loss attributable to noncontrolling interests 9 5 Other comprehensive earnings/(losses) attributable to Mondelēz International (56) (1,248) Balance at end of period $ (10,746) $ (11,502) (1) These reclassified losses are included in net periodic benefit costs disclosed in Note 10, Benefit Plans . (2) Taxes reclassified to earnings are recorded within the provision for income taxes. (3) These reclassified gains or losses are recorded within interest and other expense, net.

Earnings per Share (Tables)

Earnings per Share (Tables)	3 Months Ended
	Mar. 31, 2021
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 2021 2020 (in millions, except per share data) Net earnings $ 968 $ 743 Noncontrolling interest earnings (7) (7) Net earnings attributable to $ 961 $ 736 Weighted-average shares for basic EPS 1,412 1,434 Plus incremental shares from assumed conversions 10 11 Weighted-average shares for diluted EPS 1,422 1,445 Basic earnings per share attributable to $ 0.68 $ 0.51 Diluted earnings per share attributable to $ 0.68 $ 0.51

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Schedule of Segment Net Revenues and Earnings	Our segment net revenues and earnings were: For the Three Months Ended 2021 2020 (in millions) Net revenues: Latin America $ 669 $ 726 AMEA 1,745 1,502 Europe 2,847 2,584 North America 1,977 1,895 Net revenues $ 7,238 $ 6,707 Earnings before income taxes: Operating income: Latin America $ 76 $ 78 AMEA 362 234 Europe 557 472 North America 270 381 Unrealized gains/(losses) on hedging activities 118 (185) General corporate expenses (64) (76) Amortization of intangibles (38) (43) Gain on acquisition 9 — Acquisition-related costs (7) (5) Operating income 1,283 856 Benefit plan non-service income 44 33 Interest and other expense, net (218) (190) Earnings before income taxes $ 1,109 $ 699
Schedule of Net Revenues by Product Category	Net revenues by product category were: For the Three Months Ended March 31, 2021 Latin AMEA Europe North Total (in millions) Biscuits $ 177 $ 583 $ 802 $ 1,736 $ 3,298 Chocolate 192 670 1,552 63 2,477 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 For the Three Months Ended March 31, 2020 Latin AMEA Europe North Total (in millions) Biscuits $ 174 $ 508 $ 746 $ 1,598 $ 3,026 Chocolate 194 543 1,363 56 2,156 Gum & Candy 182 185 173 241 781 Beverages 102 171 25 — 298 Cheese & Grocery 74 95 277 — 446 Total net revenues $ 726 $ 1,502 $ 2,584 $ 1,895 $ 6,707

Basis of Presentation - Narrati

Basis of Presentation - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)country	Mar. 31, 2020USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Summary of Significant Accounting Policies [Line Items]
Net revenues	$ 7,238	$ 6,707
Number of countries in which products are sold (more than) | country	150
Number of countries in which entity operates (more than) | country	80
Restricted cash	$ 31		$ 31
Cash, cash equivalents and restricted cash	2,059	1,952	3,650	$ 1,328
Outstanding principal amount of receivables sold under factoring arrangement	905		$ 760
Operating lease right-of-use assets obtained in exchange for lease obligations	29	89
Finance lease right-of-use assets in exchange for lease obligations	30	25
Argentina
Summary of Significant Accounting Policies [Line Items]
Net monetary assets	5
Net revenues	$ 89
Percentage of consolidated net revenues	1.20%
Argentina | Selling, general and administrative expenses
Summary of Significant Accounting Policies [Line Items]
Remeasurement loss due to inflationary accounting	$ 5	$ 2
U.K. | Geographic Concentration Risk | Net Revenues
Summary of Significant Accounting Policies [Line Items]
Concentration risk percentage	9.90%

Basis of Presentation - Changes

Basis of Presentation - Changes in Allowances for Credit Losses (Details) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)
Allowance for Trade Receivables
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at January 1, 2021	$ (42)
Current period provision for expected credit losses	(2)
Write-offs charged against the allowance	1
Currency	3
Balance at March 31, 2021	(40)
Allowance for Other Current Receivables
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at January 1, 2021	(42)
Current period provision for expected credit losses	0
Write-offs charged against the allowance	1
Currency	0
Balance at March 31, 2021	(41)
Allowance for Long-Term Receivables
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at January 1, 2021	(12)
Current period provision for expected credit losses	0
Write-offs charged against the allowance	0
Currency	1
Balance at March 31, 2021	$ (11)

Acquisitions and Divestitures -

Acquisitions and Divestitures - Narrative (Details) £ in Millions, $ in Millions	Apr. 01, 2021USD ($)	Apr. 01, 2021AUD ($)	Mar. 25, 2021USD ($)	Mar. 25, 2021GBP (£)	Jan. 04, 2021USD ($)	Apr. 01, 2020USD ($)	Mar. 31, 2021USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2020USD ($)
Business Acquisition [Line Items]
Acquisition-related costs							$ 7,000,000	$ 5,000,000
Closing cash consideration, net of cash received							490,000,000	0
Goodwill							21,945,000,000		$ 21,895,000,000
Pre-tax gain to step up investment to fair value and consolidate the company							9,000,000	0
Gourmet Food Holdings Pty Ltd
Business Acquisition [Line Items]
Acquisition-related costs							1,000,000
Gourmet Food Holdings Pty Ltd | Subsequent Event
Business Acquisition [Line Items]
Closing cash consideration	$ 348,000,000	$ 458
Grenade
Business Acquisition [Line Items]
Acquisition-related costs							2,000,000
Closing cash consideration, net of cash received			$ 260,000,000	£ 188
Indefinite-life intangible assets			81,000,000
Definite-life intangible assets			24,000,000
Goodwill			180,000,000
Property, plant and equipment			1,000,000
Inventory			11,000,000
Accounts receivables			18,000,000
Other current assets			1,000,000
Current liabilities			25,000,000
Deferred tax liabilities			20,000,000
Long-term other liabilities			$ 11,000,000
Hu Master Holdings
Business Acquisition [Line Items]
Acquisition-related costs							4,000,000
Closing cash consideration, net of cash received					$ 229,000,000
Indefinite-life intangible assets					123,000,000
Definite-life intangible assets					51,000,000
Goodwill					202,000,000
Property, plant and equipment					1,000,000
Inventory					2,000,000
Accounts receivables					4,000,000
Current liabilities					5,000,000
Long-term other liabilities					$ 132,000,000
Percentage of interest acquired					93.00%
Fair value of contingent consideration obligation					$ 132,000,000
Pre-tax gain to step up investment to fair value and consolidate the company					9,000,000
After-tax gain to step up investment to fair value and consolidate the company					$ 7,000,000
Amount of equity in the acquiree held by the acquirer immediately before the acquisition date in a business combination							8,000,000
Percentage of equity in the acquiree held by the acquirer immediately before the acquisition date in a business combination					7.00%
Incremental net revenues from acquisition							8,000,000
Incremental operating income (loss) from acquisition							(6,000,000)
Give & Go
Business Acquisition [Line Items]
Acquisition-related costs								$ 5,000,000
Closing cash consideration, net of cash received						$ 1,136,000,000
Indefinite-life intangible assets						42,000,000
Definite-life intangible assets						511,000,000
Goodwill						531,000,000
Property, plant and equipment						136,000,000
Inventory						38,000,000
Accounts receivables						29,000,000
Other current assets						6,000,000
Current liabilities						42,000,000
Deferred tax liabilities						92,000,000
Long-term other liabilities						19,000,000
Incremental net revenues from acquisition							106,000,000
Incremental operating income (loss) from acquisition							$ 6,000,000
Goodwill expected to be deductible for income tax purposes						0
Give & Go | Customer Relationships
Business Acquisition [Line Items]
Definite-lived assets acquired						$ 416,000,000
Useful life of definite-lived assets acquired						17 years

Acquisitions and Divestitures_2

Acquisitions and Divestitures - Preliminary Purchase Price Allocation of Net Tangible and Intangible Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions	Apr. 01, 2020	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Business Acquisition [Line Items]
Goodwill		$ 21,945		$ 21,895
Net Cash Paid		$ 490	$ 0
Give & Go
Business Acquisition [Line Items]
Receivables	$ 29
Inventory	38
Other current assets	6
Property, plant and equipment	136
Operating right of use assets	61
Definite-life intangible assets	511
Indefinite-life intangible assets	42
Goodwill	531
Assets acquired	1,354
Current liabilities	42
Deferred tax liabilities	92
Long-term operating lease liabilities	56
Long-term debt	6
Long-term other liabilities	19
Total purchase price	1,139
Less: cash received	3
Net Cash Paid	$ 1,136

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Raw materials	$ 766	$ 718
Finished product	1,990	2,059
Inventories, gross	2,756	2,777
Inventory reserves	(121)	(130)
Inventories, net	$ 2,635	$ 2,647

Property, Plant and Equipment_2

Property, Plant and Equipment (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 16,112	$ 16,355
Accumulated depreciation	(7,346)	(7,329)
Property, plant and equipment, net	8,766	9,026
Land and land improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	411	422
Buildings and building improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	3,196	3,252
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	11,889	12,053
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 616	$ 628

Property, Plant and Equipment -

Property, Plant and Equipment - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Property, Plant and Equipment [Abstract]
Capital expenditures	$ 216	$ 214
Accrued capital expenditures unpaid	230	259
Payments for capital expenditures accrued in the prior year	$ 275	$ 334

Property, Plant and Equipment_3

Property, Plant and Equipment - Asset Impairment and Exit Costs (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Total	$ 43	$ 0
Simplify to Grow Program
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Total	40	1
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	(16)	(1)
Simplify to Grow Program | Europe
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Total	2	1
Simplify to Grow Program | North America
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Total	$ 54	$ 1

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Goodwill by Segment (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Goodwill	$ 21,945	$ 21,895
Latin America
Segment Reporting Information [Line Items]
Goodwill	673	706
AMEA
Segment Reporting Information [Line Items]
Goodwill	3,229	3,250
Europe
Segment Reporting Information [Line Items]
Goodwill	7,929	8,038
North America
Segment Reporting Information [Line Items]
Goodwill	$ 10,114	$ 9,901

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Indefinite-life intangible assets	$ 17,505	$ 17,492
Definite-life intangible assets	2,956	2,907
Total intangible assets, gross	20,461	20,399
Accumulated amortization	(1,934)	(1,917)
Intangible assets, net	$ 18,527	$ 18,482

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Narrative (Details) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2021USD ($)brand	Mar. 31, 2020USD ($)	Dec. 31, 2020USD ($)brand	Jul. 01, 2020brand
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense for intangible assets	$ 38	$ 43
Estimated amortization expense of intangibles in 2021	130
Estimated amortization expense of intangibles in 2022	120
Estimated amortization expense of intangibles in 2023	120
Estimated amortization expense of intangibles in 2024	120
Estimated amortization expense of intangibles in 2025	105
Goodwill and Intangible Assets Disclosure [Line Items]
Goodwill	$ 21,945		$ 21,895
COVID-19 | Brands
Goodwill and Intangible Assets Disclosure [Line Items]
Impairment of intangible assets			$ 144
Number of impaired brands | brand			8	8
Number of brands with fair value in excess of book value of 10% or less | brand	9			9
Book value of brands with fair value in excess of book value of 10% or less	$ 738
Hu Master Holdings And Grenade
Goodwill and Intangible Assets Disclosure [Line Items]
Goodwill	382
Intangible assets acquired	$ 279

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Changes in Goodwill and Intangible Assets (Details) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)
Goodwill
Balance at January 1, 2021	$ 21,895
Currency	(332)
Acquisitions	382
Balance at March 31, 2021	21,945
Intangible Assets, at cost
Balance at January 1, 2021	20,399
Currency	(217)
Acquisitions	279
Balance at March 31, 2021	$ 20,461

Equity Method Investments - Nar

Equity Method Investments - Narrative (Details) € / shares in Units, € in Millions, $ in Millions	Jun. 02, 2020USD ($)shares	Jun. 02, 2020EUR (€)shares	Jun. 01, 2020USD ($)shares	Jun. 01, 2020EUR (€)shares	May 29, 2020€ / sharesshares	Mar. 04, 2020USD ($)shares	Mar. 31, 2021USD ($)director	Mar. 31, 2020USD ($)	Dec. 31, 2020USD ($)
Schedule of Equity Method Investments [Line Items]
Equity method investments							$ 5,916		$ 6,036
Equity method investment net earnings							78	$ 121
Cash dividends received from equity method investments							$ 74	165
JDEP
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	22.90%	22.90%					22.80%
Equity method investment net earnings								$ 121
Number of shares of equity method investment sold (in shares) | shares			9,700,000	9,700,000	82,100,000
Stock sale price (in dollars per share) | € / shares					€ 31.50
Percentage of equity method investment ownership after the settlement			26.50%	26.50%
Gross proceeds from equity method investment transaction			$ 343	€ 304
JDEP | Over-allotment option
Schedule of Equity Method Investments [Line Items]
Number of shares of equity method investment sold (in shares) | shares	1,400,000	1,400,000
Gross proceeds from equity method investment transaction	$ 51	€ 46
KDP
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage							8.30%
Number of shares of equity method investment sold (in shares) | shares						6,800,000
Decrease in equity method investment ownership percentage						0.50%
Pre-tax gain (loss) on sale of equity method investment						$ 71
After-tax gain (loss) on sale of equity method investment						54
Proceeds from sale of equity method investment						$ 185
Number of director positions | director							2
Dong Suh Foods Corporation
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage							50.00%
Dong Suh Oil & Fats Co. Ltd.
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage							49.00%
JDEP and KDP
Schedule of Equity Method Investments [Line Items]
Fair value of ownership of equity method investment							$ 8,300
JDE
Schedule of Equity Method Investments [Line Items]
Percentage of equity method investment exchanged			26.40%	26.40%

Equity Method Investments - Imp

Equity Method Investments - Impact of Change in Accounting Principle on Consolidated Financial Statements (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statements of Earnings
Equity method investment net earnings	$ 78	$ 121
Net earnings	968	743
Net earnings attributable to Mondelēz International	$ 961	$ 736
Earnings per share attributable to Mondelēz International:
Basic EPS (in dollars per share)	$ 0.68	$ 0.51
Diluted EPS (in dollars per share)	$ 0.68	$ 0.51
Statements of Other Comprehensive Earnings
Currency translation adjustment	$ (136)	$ (1,371)
Pension and other benefit plans	69	60
Derivative cash flow hedges	2	58
Total other comprehensive earnings/(losses)	(65)	(1,253)
Comprehensive earnings/(losses) attributable to Mondelēz International	$ 905	(512)
JDEP
Statements of Earnings
Equity method investment net earnings		121
Net earnings		743
Net earnings attributable to Mondelēz International		$ 736
Earnings per share attributable to Mondelēz International:
Basic EPS (in dollars per share)		$ 0.51
Diluted EPS (in dollars per share)		$ 0.51
Statements of Other Comprehensive Earnings
Currency translation adjustment		$ (1,371)
Pension and other benefit plans		60
Derivative cash flow hedges		58
Total other comprehensive earnings/(losses)		(1,253)
Comprehensive earnings/(losses) attributable to Mondelēz International		(512)
JDEP | As Reported
Statements of Earnings
Equity method investment net earnings		138
Net earnings		760
Net earnings attributable to Mondelēz International		$ 753
Earnings per share attributable to Mondelēz International:
Basic EPS (in dollars per share)		$ 0.53
Diluted EPS (in dollars per share)		$ 0.52
Statements of Other Comprehensive Earnings
Currency translation adjustment		$ (1,511)
Pension and other benefit plans		79
Derivative cash flow hedges		60
Total other comprehensive earnings/(losses)		(1,372)
Comprehensive earnings/(losses) attributable to Mondelēz International		$ (614)

Restructuring Program - Narrati

Restructuring Program - Narrative (Details) - USD ($) $ in Millions	Sep. 06, 2018	Aug. 31, 2016	May 06, 2014	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Dec. 31, 2020
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				$ 122	$ 58	$ 4,825
Restructuring charges				88	15	2,970
Cash spent in restructuring				34
Non-cash asset write-downs				40	3
Restructuring reserve				308		308	$ 304
Implementation costs				34	43	1,855
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				261		261
Simplify to Grow Program | Other liabilities
Restructuring Cost and Reserve [Line Items]
Restructuring reserve				47		47
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				47
Cash spent in restructuring				34	$ 37
Restructuring reserve				$ 308		$ 308	$ 304

Restructuring Program - Restruc

Restructuring Program - Restructuring Liability Activity (Details) - Simplify to Grow Program - USD ($) $ in Millions	3 Months Ended		83 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021
Restructuring Reserve [Roll Forward]
Liability balance, January 1, 2021	$ 304
Charges	88	$ 15	$ 2,970
Cash spent	(34)
Non-cash settlements	(40)	(3)
Currency	(10)
Liability balance, March 31, 2021	308		308
Severance and related costs
Restructuring Reserve [Roll Forward]
Liability balance, January 1, 2021	304
Charges	47
Cash spent	(34)	$ (37)
Adjustments	(1)
Currency	(10)
Liability balance, March 31, 2021	308		308
Asset Write-downs
Restructuring Reserve [Roll Forward]
Liability balance, January 1, 2021	0
Charges	41
Cash spent	0
Non-cash settlements	(41)
Currency	0
Liability balance, March 31, 2021	$ 0		$ 0

Restructuring Program - Restr_2

Restructuring Program - Restructuring and Implementation Costs by Segments (Details) - Simplify to Grow Program - USD ($) $ in Millions	3 Months Ended		83 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021
Restructuring Cost and Reserve [Line Items]
Restructuring Costs	$ 88	$ 15	$ 2,970
Implementation Costs	34	43	1,855
Total	122	58	4,825
Operating Segments | Latin America
Restructuring Cost and Reserve [Line Items]
Restructuring Costs	3	4	550
Implementation Costs	3	7	290
Total	6	11	840
Operating Segments | AMEA
Restructuring Cost and Reserve [Line Items]
Restructuring Costs	(21)	(1)	537
Implementation Costs	2	3	231
Total	(19)	2	768
Operating Segments | Europe
Restructuring Cost and Reserve [Line Items]
Restructuring Costs	6	3	1,149
Implementation Costs	10	14	521
Total	16	17	1,670
Operating Segments | North America
Restructuring Cost and Reserve [Line Items]
Restructuring Costs	101	2	593
Implementation Costs	10	10	466
Total	111	12	1,059
Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring Costs	(1)	7	141
Implementation Costs	9	9	347
Total	$ 8	$ 16	$ 488

Debt and Borrowing Arrangemen_3

Debt and Borrowing Arrangements - Short-Term Borrowings and Related Weighted-Average Interest Rates (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Short-term Debt [Line Items]
Amount Outstanding	$ 674	$ 29
Commercial paper
Short-term Debt [Line Items]
Amount Outstanding	$ 584	$ 0
Weighted-Average Rate	0.20%	0.00%
Bank loans
Short-term Debt [Line Items]
Amount Outstanding	$ 90	$ 29
Weighted-Average Rate	5.00%	4.80%

Debt and Borrowing Arrangemen_4

Debt and Borrowing Arrangements - Uncommitted and Committed Credit Lines Available (Details) - USD ($)		Mar. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Amount Outstanding		$ 674,000,000	$ 29,000,000
Line of Credit | Credit Facility Expiring February 27, 2024
Debt Instrument [Line Items]
Facility Amount	[1]	4,500,000,000	4,500,000,000
Borrowed Amount	[1]	0	0
Line of Credit | Multi-year Senior Unsecured Revolving Credit Facility Expiring February 27, 2024 | Revolving Credit Agreement
Debt Instrument [Line Items]
Total shareholders' equity, excluding accumulated other comprehensive earnings/(losses)		37,800,000,000
Line of Credit | Multi-year Senior Unsecured Revolving Credit Facility Expiring February 27, 2024 | Revolving Credit Agreement | Minimum
Debt Instrument [Line Items]
Total shareholders' equity, excluding accumulated other comprehensive earnings/(losses)		24,600,000,000
Line of Credit
Debt Instrument [Line Items]
Amount Outstanding		90,000,000	29,000,000
Line of Credit | Uncommitted credit facilities
Debt Instrument [Line Items]
Facility Amount		1,488,000,000	1,487,000,000
Amount Outstanding		90,000,000	29,000,000
Line of Credit | Credit Facility Expiring February 24, 2021
Debt Instrument [Line Items]
Facility Amount	[1]		1,500,000,000
Amount Outstanding	[1]	0	0
Line of Credit | Credit Facility Expiring February 23, 2022
Debt Instrument [Line Items]
Facility Amount	[1]	2,500,000,000
Amount Outstanding	[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 $24.6 billion, excluding accumulated other comprehensive earnings/(losses), the cumulative effects of any changes in accounting principles and earnings/(losses) recognized in connection with the ongoing application of any mark-to-market accounting for pensions and other retirement plans. At March 31, 2021, we complied with this covenant as our shareholders' equity, as defined by the covenant, was $37.8 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.

Debt and Borrowing Arrangemen_5

Debt and Borrowing Arrangements - Narrative (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2021	Mar. 31, 2020
Debt Instrument [Line Items]
Loss on debt extinguishment and related expenses		$ 137	$ 0
Net loss on extinguishment of debt		110	0
Foreign currency derivative loss related to redemption payment at time of extinguishment of debt		27
Net investment hedge derivative contracts | Net investment hedge debt
Debt Instrument [Line Items]
Net investment hedge derivative contracts excluded from hedge effectiveness	[1]	$ 20	$ 33
Minimum | Commercial paper
Debt Instrument [Line Items]
Commercial paper, maturity period		6 days
Maximum | Commercial paper
Debt Instrument [Line Items]
Commercial paper, maturity period		15 days
[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 Arrangemen_6

Debt and Borrowing Arrangements - Debt Redemptions (Details) - Notes Payable € in Millions, $ in Millions	Mar. 31, 2021EUR (€)	Mar. 31, 2021USD ($)
1.000% Notes Due March 2022
Debt Instrument [Line Items]
Interest Rate	1.00%	1.00%
Amount Redeemed	€ 500	$ 587
1.625% Notes Due January 2023
Debt Instrument [Line Items]
Interest Rate	1.625%	1.625%
Amount Redeemed	€ 700	$ 821
2.125% Notes Due April 2023
Debt Instrument [Line Items]
Interest Rate	2.125%	2.125%
Amount Redeemed		$ 500
4.000% Notes Due February 2024
Debt Instrument [Line Items]
Interest Rate	4.00%	4.00%
Amount Redeemed		$ 492

Debt and Borrowing Arrangemen_7

Debt and Borrowing Arrangements - Debt Repayments (Details) € in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)	Mar. 31, 2021EUR (€)	Mar. 31, 2020USD ($)
Debt Instrument [Line Items]
Amount	$ 3,353		$ 670
Notes Payable | 2.375% Notes Due January 2021
Debt Instrument [Line Items]
Interest Rate	2.375%	2.375%
Amount	$ 827	€ 679

Debt and Borrowing Arrangemen_8

Debt and Borrowing Arrangements - Debt Issuances (Details) - Notes Payable	Mar. 31, 2021EUR (€)		Mar. 31, 2021USD ($)
1.375% Notes due 2041
Debt Instrument [Line Items]
Interest Rate	1.375%		1.375%
Gross Proceeds	€ 650,000,000	[1]	$ 777,000,000
0.750% Notes due 2033
Debt Instrument [Line Items]
Interest Rate	0.75%		0.75%
Gross Proceeds	€ 600,000,000	[1]	$ 717,000,000
0.250% Notes due 2028
Debt Instrument [Line Items]
Interest Rate	0.25%		0.25%
Gross Proceeds	€ 750,000,000	[1]	$ 896,000,000
[1]	Represents gross proceeds from the issuance of notes excluding debt issuance costs, discounts and premiums.

Debt and Borrowing Arrangemen_9

Debt and Borrowing Arrangements - Fair Value of Debt (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Fair Value | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	$ 20,203	$ 21,568
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	$ 19,530	$ 20,046

Debt and Borrowing Arrangeme_10

Debt and Borrowing Arrangements - Interest and Other Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Debt Disclosure [Abstract]
Interest expense, debt	$ 98	$ 110
Loss on debt extinguishment and related expenses	137	0
Loss related to interest rate swaps	0	103
Other (income)/expense, net	(17)	(23)
Interest and other expense, net	$ 218	$ 190

Financial Instruments - Fair Va

Financial Instruments - Fair Value of Derivative Instruments (Details) - USD ($) $ in Millions		Mar. 31, 2021	Dec. 31, 2020
Derivatives, Fair Value [Line Items]
Asset Derivatives		$ 521	$ 465
Liability Derivatives		428	716
Derivatives designated as accounting hedges
Derivatives, Fair Value [Line Items]
Asset Derivatives		131	126
Liability Derivatives		251	469
Derivatives designated as accounting hedges | Interest rate contracts
Derivatives, Fair Value [Line Items]
Asset Derivatives		13	12
Liability Derivatives		193	340
Derivatives designated as accounting hedges | Net investment hedge derivative contracts
Derivatives, Fair Value [Line Items]
Asset Derivatives	[1]	118	114
Liability Derivatives	[1]	58	129
Derivatives not designated as accounting hedges
Derivatives, Fair Value [Line Items]
Asset Derivatives		390	339
Liability Derivatives		177	247
Derivatives not designated as accounting hedges | Currency exchange contracts
Derivatives, Fair Value [Line Items]
Asset Derivatives		141	134
Liability Derivatives		73	119
Derivatives not designated as accounting hedges | Commodity contracts
Derivatives, Fair Value [Line Items]
Asset Derivatives		249	205
Liability Derivatives		$ 104	$ 128
[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.

Financial Instruments - Derivat

Financial Instruments - Derivative Instruments Fair Value and Measurement Inputs (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Derivative [Line Items]
Total derivatives	$ 93	$ (251)
Currency exchange contracts
Derivative [Line Items]
Total derivatives	68	15
Commodity contracts
Derivative [Line Items]
Total derivatives	145	77
Interest rate contracts
Derivative [Line Items]
Total derivatives	(180)	(328)
Net investment hedge derivative contracts
Derivative [Line Items]
Total derivatives	60	(15)
Quoted Prices in Active Markets for Identical Assets (Level 1)
Derivative [Line Items]
Total derivatives	68	46
Quoted Prices in Active Markets for Identical Assets (Level 1) | Currency exchange contracts
Derivative [Line Items]
Total derivatives	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Commodity contracts
Derivative [Line Items]
Total derivatives	68	46
Quoted Prices in Active Markets for Identical Assets (Level 1) | Interest rate contracts
Derivative [Line Items]
Total derivatives	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Net investment hedge derivative contracts
Derivative [Line Items]
Total derivatives	0	0
Significant Other Observable Inputs (Level 2)
Derivative [Line Items]
Total derivatives	25	(297)
Significant Other Observable Inputs (Level 2) | Currency exchange contracts
Derivative [Line Items]
Total derivatives	68	15
Significant Other Observable Inputs (Level 2) | Commodity contracts
Derivative [Line Items]
Total derivatives	77	31
Significant Other Observable Inputs (Level 2) | Interest rate contracts
Derivative [Line Items]
Total derivatives	(180)	(328)
Significant Other Observable Inputs (Level 2) | Net investment hedge derivative contracts
Derivative [Line Items]
Total derivatives	60	(15)
Significant Unobservable Inputs (Level 3)
Derivative [Line Items]
Total derivatives	0	0
Significant Unobservable Inputs (Level 3) | Currency exchange contracts
Derivative [Line Items]
Total derivatives	0	0
Significant Unobservable Inputs (Level 3) | Commodity contracts
Derivative [Line Items]
Total derivatives	0	0
Significant Unobservable Inputs (Level 3) | Interest rate contracts
Derivative [Line Items]
Total derivatives	0	0
Significant Unobservable Inputs (Level 3) | Net investment hedge derivative contracts
Derivative [Line Items]
Total derivatives	$ 0	$ 0

Financial Instruments - Notiona

Financial Instruments - Notional Values of Hedging Instruments (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Euro notes | Net investment hedge debt
Derivative [Line Items]
Notional Amount	$ 3,737	$ 3,744
British pound sterling notes | Net investment hedge debt
Derivative [Line Items]
Notional Amount	363	360
Swiss franc notes | Net investment hedge debt
Derivative [Line Items]
Notional Amount	1,102	1,175
Canadian dollar notes | Net investment hedge debt
Derivative [Line Items]
Notional Amount	478	472
Currency exchange contracts | Intercompany loans and forecasted interest payments
Derivative [Line Items]
Notional Amount	2,218	2,184
Currency exchange contracts | Forecasted transactions
Derivative [Line Items]
Notional Amount	3,845	4,169
Commodity contracts
Derivative [Line Items]
Notional Amount	6,088	7,947
Interest rate contracts
Derivative [Line Items]
Notional Amount	3,500	3,500
Net investment hedge contracts
Derivative [Line Items]
Notional Amount	4,720	$ 4,551
Net investment hedge contracts | Net investment hedge debt
Derivative [Line Items]
Notional Amount	$ 4,700

Financial Instruments - Cash Fl

Financial Instruments - Cash Flow Hedges Effect on Accumulated Other Comprehensive Earnings/(Losses), Net of Tax (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net [Abstract]
Balance at beginning of period	$ 27,654	$ 27,317
Transfer of realized losses/(gains) in fair value to earnings	34	104
Balance at end of period	27,149	25,820
Cash flow hedges
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net [Abstract]
Unrealized (loss)/gain in fair value	(3)	(23)
Derivative Cash Flow Hedges
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net [Abstract]
Balance at beginning of period	(161)	(213)
Balance at end of period	(159)	(155)
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	(161)	(213)
Transfer of realized losses/(gains) in fair value to earnings	5	81
Unrealized (loss)/gain in fair value	(3)	(23)
Balance at end of period	$ (159)	$ (155)

Financial Instruments - Cash _2

Financial Instruments - Cash Flow Hedges After-tax Gains/(Losses) (Details) - Cash flow hedges - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Derivative Instruments, Gain (Loss) [Line Items]
After-tax gains/(losses) recognized in other comprehensive earnings/(losses)	$ (3)	$ (23)
Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
After-tax gains/(losses) reclassified from accumulated other comprehensive income into earnings/(losses)	(5)	(81)
After-tax gains/(losses) recognized in other comprehensive earnings/(losses)	(2)	(23)
Currency exchange contracts | Forecasted transactions
Derivative Instruments, Gain (Loss) [Line Items]
After-tax gains/(losses) recognized in other comprehensive earnings/(losses)	$ (1)	$ 0

Financial Instruments - Narrati

Financial Instruments - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Pre-tax loss on interest rate swaps included in interest and other expense, net	$ 0	$ 103
Net investment hedge contracts
Derivative Instruments, Gain (Loss) [Line Items]
After-tax loss on interest rate swaps included in interest and other expense, net		79
Pre-tax loss on interest rate swaps included in interest and other expense, net		$ 103
Derivative, aggregate notional value	4,720		$ 4,551
Net investment hedge contracts | Net investment hedges
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, aggregate notional value	4,700
Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, aggregate notional value	3,500		$ 3,500
Interest rate contracts | Cash flow hedges
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	$ 113
Hedged forecasted transaction period	3 years 6 months

Financial Instruments - Net Inv

Financial Instruments - Net Investment Hedge Derivative Contracts (Details) - Net investment hedges - Net investment hedge derivative contracts - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2021	Mar. 31, 2020
Derivative Instruments, Gain (Loss) [Line Items]
After-tax gain/(loss) on NIH contracts	[1]	$ 59	$ 332
Amounts excluded from the assessment of hedge effectiveness	[2]	$ 20	$ 33
[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

Financial Instruments - Non-U.S. Dollar Debt Designated as Net Investment Hedges (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Euro notes
Derivative Instruments, Gain (Loss) [Line Items]
After-tax gains/(losses) related to hedges of net investments in international operations	$ 124	$ 42
British pound sterling notes
Derivative Instruments, Gain (Loss) [Line Items]
After-tax gains/(losses) related to hedges of net investments in international operations	(2)	17
Swiss franc notes
Derivative Instruments, Gain (Loss) [Line Items]
After-tax gains/(losses) related to hedges of net investments in international operations	56	(6)
Canadian notes
Derivative Instruments, Gain (Loss) [Line Items]
After-tax gains/(losses) related to hedges of net investments in international operations	$ (5)	$ 27

Financial Instruments - Economi

Financial Instruments - Economic Hedges (Details) - Derivatives Not Designated as Hedging Instruments - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives instruments, pre-tax gains/(losses) recognized in earnings	$ 200	$ (244)
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	70	(73)
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	(16)	1
Currency exchange contracts | Forecasted transactions | Cost of sales
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives instruments, pre-tax gains/(losses) recognized in earnings	50	26
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	(1)
Commodity contracts | Cost of sales
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives instruments, pre-tax gains/(losses) recognized in earnings	$ 94	$ (197)

Benefit Plans - Pension Plans (

Benefit Plans - Pension Plans (Details) - Pension Plans - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 2	$ 1
Interest cost	10	13
Expected return on plan assets	(18)	(19)
Net loss from experience differences	4	4
Prior service cost/(benefit)	0	0
Settlement losses and other expenses	3	4
Net periodic benefit costs	1	3
Non-U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	35	30
Interest cost	29	37
Expected return on plan assets	(106)	(99)
Net loss from experience differences	33	29
Prior service cost/(benefit)	(2)	(2)
Settlement losses and other expenses	0	2
Net periodic benefit costs	$ (11)	$ (3)

Benefit Plans - Narrative (Deta

Benefit Plans - Narrative (Details) - USD ($) $ in Millions	Jul. 11, 2019	Mar. 31, 2021	Mar. 31, 2020
U.S. Plans | North America
Defined Benefit Plan Disclosure [Line Items]
Multiemployer plan, withdrawal liability	$ 526	$ 372
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		14
Long-term other liabilities | U.S. Plans | North America
Defined Benefit Plan Disclosure [Line Items]
Multiemployer plan, withdrawal liability		358
Pension Plans | U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Employer contribution		3
Estimated future employer contributions over the remainder of 2021		5
Pension Plans | Non-U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Employer contribution		63
Estimated future employer contributions over the remainder of 2021		165
Pension Plans | United Kingdom and Ireland
Defined Benefit Plan Disclosure [Line Items]
Employer contribution		$ 31

Benefit Plans - Postretirement

Benefit Plans - Postretirement Benefit Plans (Details) - Postretirement Benefit Plans - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 1	$ 1
Interest cost	2	3
Net loss from experience differences	1	3
Prior service credit	0	(8)
Net periodic benefit costs	$ 4	$ (1)

Benefit Plans - Postemployment

Benefit Plans - Postemployment Benefit Plans (Details) - Postemployment Benefit Plans - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 1	$ 1
Interest cost	1	1
Amortization of net gains	(1)	(1)
Net periodic benefit costs	$ 1	$ 1

Stock Plans - Stock Option Acti

Stock Plans - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended	12 Months Ended
		Mar. 31, 2021	Dec. 31, 2020
Shares Subject to Option
Balance at January 1, 2021 (in shares)		27,751,894
Options granted (in shares)		2,460,250
Options exercised (in shares)	[1]	(1,734,108)
Options canceled (in shares)		(222,648)
Balance at March 31, 2021 (in shares)		28,255,388	27,751,894
Weighted- Average Exercise or Grant Price Per Share
Balance at January 1, 2021 (in dollars per share)		$ 39.51
Options granted (in dollars per share)		56.15
Options exercised (in dollars per share)	[1]	29.72
Options canceled (in dollars per share)		44.57
Balance at March 31, 2021 (in dollars per share)		$ 41.52	$ 39.51
Average Remaining Contractual Term
Average remaining contractual term		6 years	5 years
Aggregate Intrinsic Value
Aggregate intrinsic value		$ 482	$ 527
Aggregate intrinsic value options exercised	[1]	46
Cash received from options exercised		67
Actual tax benefit realized and recorded in the provision for income taxes for the tax deductions from the option exercises		$ 7
Annual grant to eligible employees
Shares Subject to Option
Options granted (in shares)		2,412,080
Weighted- Average Exercise or Grant Price Per Share
Options granted (in dollars per share)		$ 56.13
Additional options issued
Shares Subject to Option
Options granted (in shares)		48,170
Weighted- Average Exercise or Grant Price Per Share
Options granted (in dollars per share)		$ 57.09
[1]	Cash received from options exercised was $67 million in the three months ended March 31, 2021. The actual tax benefit realized and recorded in the provision for income taxes for the tax deductions from the option exercises totaled $7 million in the three months ended March 31, 2021.

Stock Plans - Performance Share

Stock Plans - Performance Share Units and Other Stock-Based Awards Activity (Details) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)$ / sharesshares
Number of Shares
Balance at January 1, 2021 (in shares) | shares	4,896,990
Shares granted (in shares) | shares	2,496,592
Vested (in shares) | shares	(2,291,494)	[1]
Forfeited (in shares) | shares	(126,925)
Balance at March 31, 2021 (in shares) | shares	4,975,163
Weighted-average grant date fair value per share
Balance at January 1, 2021 (in dollars per share) | $ / shares	$ 53.80	[2]
Shares granted (in dollars per share) | $ / shares	55.98	[2]
Vested (in dollars per share) | $ / shares	49.80	[1],[2]
Forfeited (in dollars per share) | $ / shares	56.45	[2]
Balance at March 31, 2021 (in dollars per share) | $ / shares	$ 56.67	[2]
Weighted-Average Aggregate Fair Value
Weighted average grant date fair value of shares granted | $	$ 140	[2]
Weighted average grant date fair value of shares vested | $	114	[1],[2]
Maximum
Weighted-Average Aggregate Fair Value
Actual tax benefit/(expense) realized for the tax deductions from the shares vested | $	$ 6
Annual grant to eligible employees
Grant Date
Grant Date	Feb. 18, 2021
Performance share units
Number of Shares
Shares granted (in shares) | shares	903,250
Weighted-average grant date fair value per share
Shares granted (in dollars per share) | $ / shares	$ 59.35	[2]
Deferred stock units
Number of Shares
Shares granted (in shares) | shares	549,710
Weighted-average grant date fair value per share
Shares granted (in dollars per share) | $ / shares	$ 56.13	[2]
Additional shares granted
Number of Shares
Shares granted (in shares) | shares	1,043,632	[3]
Weighted-average grant date fair value per share
Shares granted (in dollars per share) | $ / shares	$ 52.99	[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 $6 million in the three months ended March 31, 2021.
[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

Stock Plans - Share Repurchase Program (Details) - USD ($) $ / shares in Units, shares in Millions	Dec. 02, 2020	Jan. 31, 2018	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2018
Class of Stock [Line Items]
Common shares repurchased			$ 1,017,000,000	$ 701,000,000
Common Stock
Class of Stock [Line Items]
Stock repurchase value						$ 13,700,000,000
Common shares repurchased			$ 1,000,000,000
Number of shares repurchased (in shares)			18.2
Average cost of shares repurchased (in dollars per share)			$ 55.97
Remaining share repurchase capacity			$ 4,700,000,000
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, 2021
Class of Stock [Line Items]
Common shares repurchased					$ 18,000,000,000

Commitments and Contingencies (

Commitments and Contingencies (Details) - U.S. Commodity Futures Trading Commission (CFTC)	3 Months Ended
	Mar. 31, 2021USD ($)
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 Accumu_3

Reclassifications from Accumulated Other Comprehensive Income - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Equity [Abstract]
Losses reclassified from accumulated other comprehensive earnings/(losses) to net earnings	$ 34	$ 104

Reclassifications from Accumu_4

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, 2021	Mar. 31, 2020
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of period		$ 27,654	$ 27,317
Less: other comprehensive (earnings)/loss attributable to noncontrolling interests		9	5
Total other comprehensive earnings/(losses)		(65)	(1,253)
Other comprehensive earnings/(losses) attributable to Mondelēz International		(56)	(1,248)
Balance at end of period		27,149	25,820
Currency translation adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of period		(8,655)	(8,320)
Currency impact		(134)	(1,281)
Tax (expense)/benefit		(2)	(90)
Less: other comprehensive (earnings)/loss attributable to noncontrolling interests		9	5
Total other comprehensive earnings/(losses)		(136)	(1,371)
Balance at end of period		(8,782)	(9,686)
Pension and Other Benefits Plans
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of period		(1,874)	(1,721)
Currency impact		41	59
Net actuarial gain/(loss) arising during period		(1)	(22)
Tax expense/(benefit) on reclassifications	[1]	(9)	(8)
Total other comprehensive earnings/(losses)		69	60
Balance at end of period		(1,805)	(1,661)
Amortization of experience losses and prior service costs
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Losses/(gains) reclassified into net earnings	[2]	35	25
Settlement losses and other expenses
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Losses/(gains) reclassified into net earnings		3	6
Derivative Cash Flow Hedges
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of period		(161)	(213)
Currency impact		3	2
Net actuarial gain/(loss) arising during period		(7)	(40)
Losses/(gains) reclassified into net earnings	[3]	6	105
Tax (expense)/benefit before reclassifications		1	15
Tax expense/(benefit) on reclassifications	[1]	(1)	(24)
Total other comprehensive earnings/(losses)		2	58
Balance at end of period		(159)	(155)
Accumulated other comprehensive income attributable to Mondelēz International
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of period		(10,690)	(10,254)
Total other comprehensive earnings/(losses)		(56)	(1,248)
Balance at end of period		$ (10,746)	$ (11,502)
[1]	Taxes reclassified to earnings are recorded within the provision for income taxes.
[2]	These reclassified losses are included in net periodic benefit costs disclosed in Note 10, Benefit Plans .
[3]	These reclassified gains or losses are recorded within interest and other expense, net.

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Tax Contingency [Line Items]
Estimated annual effective tax rate	25.20%	25.20%
Effective tax rate	19.10%	21.20%
Discrete net tax benefits	$ 65	$ 28
Net benefit from the release of uncertain tax positions due to expiration of statutes of limitations, audit settlements	32	$ 22
U.S.
Income Tax Contingency [Line Items]
Tax benefit due to new tax guidance	$ 27

Earnings per Share (Details)

Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Earnings Per Share [Abstract]
Net earnings	$ 968	$ 743
Noncontrolling interest earnings	(7)	(7)
Net earnings attributable to Mondelēz International	$ 961	$ 736
Weighted-average shares for basic EPS (in shares)	1,412	1,434
Plus incremental shares from assumed conversions of stock options and long-term incentive plan shares (in shares)	10	11
Weighted-average shares for diluted EPS (in shares)	1,422	1,445
Basic earnings per share attributable to Mondelēz International (in dollars per share)	$ 0.68	$ 0.51
Diluted earnings per share attributable to Mondelēz International (in dollars per share)	$ 0.68	$ 0.51

Earnings per Share - Narrative

Earnings per Share - Narrative (Details) - shares shares in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
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)	3.6	4

Segment Reporting - Narrative (

Segment Reporting - Narrative (Details)	3 Months Ended
	Mar. 31, 2021segment
Segment Reporting [Abstract]
Number of operating segments	4

Segment Reporting - Net Revenue

Segment Reporting - Net Revenues and Earnings (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Segment Reporting Information [Line Items]
Net revenues	$ 7,238	$ 6,707
Operating income	1,283	856
Unrealized gains/(losses) on hedging activities (mark-to-market impacts)	118	(185)
General corporate expenses	(64)	(76)
Amortization of intangibles	(38)	(43)
Gain on acquisition	9	0
Acquisition-related costs	(7)	(5)
Benefit plan non-service income	44	33
Interest and other expense, net	(218)	(190)
Earnings before income taxes	1,109	699
Latin America
Segment Reporting Information [Line Items]
Net revenues	669	726
Operating income	76	78
AMEA
Segment Reporting Information [Line Items]
Net revenues	1,745	1,502
Operating income	362	234
Europe
Segment Reporting Information [Line Items]
Net revenues	2,847	2,584
Operating income	557	472
North America
Segment Reporting Information [Line Items]
Net revenues	1,977	1,895
Operating income	$ 270	$ 381

Segment Reporting - Net Reven_2

Segment Reporting - Net Revenues by Product Category (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Segment Reporting Information [Line Items]
Net revenues	$ 7,238	$ 6,707
Biscuits
Segment Reporting Information [Line Items]
Net revenues	3,298	3,026
Chocolate
Segment Reporting Information [Line Items]
Net revenues	2,477	2,156
Gum & Candy
Segment Reporting Information [Line Items]
Net revenues	651	781
Beverages
Segment Reporting Information [Line Items]
Net revenues	307	298
Cheese & Grocery
Segment Reporting Information [Line Items]
Net revenues	505	446
Latin America
Segment Reporting Information [Line Items]
Net revenues	669	726
Latin America | Biscuits
Segment Reporting Information [Line Items]
Net revenues	177	174
Latin America | Chocolate
Segment Reporting Information [Line Items]
Net revenues	192	194
Latin America | Gum & Candy
Segment Reporting Information [Line Items]
Net revenues	131	182
Latin America | Beverages
Segment Reporting Information [Line Items]
Net revenues	94	102
Latin America | Cheese & Grocery
Segment Reporting Information [Line Items]
Net revenues	75	74
AMEA
Segment Reporting Information [Line Items]
Net revenues	1,745	1,502
AMEA | Biscuits
Segment Reporting Information [Line Items]
Net revenues	583	508
AMEA | Chocolate
Segment Reporting Information [Line Items]
Net revenues	670	543
AMEA | Gum & Candy
Segment Reporting Information [Line Items]
Net revenues	194	185
AMEA | Beverages
Segment Reporting Information [Line Items]
Net revenues	180	171
AMEA | Cheese & Grocery
Segment Reporting Information [Line Items]
Net revenues	118	95
Europe
Segment Reporting Information [Line Items]
Net revenues	2,847	2,584
Europe | Biscuits
Segment Reporting Information [Line Items]
Net revenues	802	746
Europe | Chocolate
Segment Reporting Information [Line Items]
Net revenues	1,552	1,363
Europe | Gum & Candy
Segment Reporting Information [Line Items]
Net revenues	148	173
Europe | Beverages
Segment Reporting Information [Line Items]
Net revenues	33	25
Europe | Cheese & Grocery
Segment Reporting Information [Line Items]
Net revenues	312	277
North America
Segment Reporting Information [Line Items]
Net revenues	1,977	1,895
North America | Biscuits
Segment Reporting Information [Line Items]
Net revenues	1,736	1,598
North America | Chocolate
Segment Reporting Information [Line Items]
Net revenues	63	56
North America | Gum & Candy
Segment Reporting Information [Line Items]
Net revenues	178	241
North America | Beverages
Segment Reporting Information [Line Items]
Net revenues	0	0
North America | Cheese & Grocery
Segment Reporting Information [Line Items]
Net revenues	$ 0	$ 0