Mondelez International (MDLZ) 10-Q 26 Jul 22 2022 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2022	Jul. 22, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
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		1,370,566,113
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
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			6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021		Jun. 30, 2022	Jun. 30, 2021
Income Statement [Abstract]
Net revenues	$ 7,274	$ 6,642	[1]	$ 15,038	$ 13,880	[1]
Cost of sales	4,633	4,011		9,414	8,283
Gross profit	2,641	2,631		5,624	5,597
Selling, general and administrative expenses	1,676	1,593		3,369	3,157
Asset impairment and exit costs	6	134		170	224
Gain on acquisition	0	0		0	(9)
Amortization of intangible assets	32	32		64	70
Operating income	927	872		2,021	2,155
Benefit plan non-service income	(30)	(54)		(63)	(98)
Interest and other expense, net	98	58		266	276
Earnings before income taxes	859	868		1,818	1,977
Income tax provision	(201)	(398)		(411)	(610)
(Loss)/gain on equity method investment transactions	(8)	502		(13)	495
Equity method investment net earnings	98	107		215	185
Net earnings	748	1,079		1,609	2,047
Noncontrolling interest earnings	(1)	(1)		(7)	(8)
Net earnings attributable to Mondelēz International	$ 747	$ 1,078		$ 1,602	$ 2,039
Per share data:
Basic earnings per share attributable to Mondelēz International (in dollars per share)	$ 0.54	$ 0.77		$ 1.16	$ 1.45
Diluted earnings per share attributable to Mondelēz International (in dollars per share)	$ 0.54	$ 0.76		$ 1.15	$ 1.44
[1]Our snack product categories include biscuits, chocolate and gum & candy. During the first quarter of 2022, we realigned some of our products between our biscuits and chocolate categories; as such, we reclassified the product category net revenues on a basis consistent with the 2022 presentation.

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Earnings - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Net earnings	$ 748	$ 1,079	$ 1,609	$ 2,047
Other comprehensive earnings/(losses), net of tax:
Currency translation adjustment	(399)	157	(349)	21
Pension and other benefit plans	167	2	260	71
Derivative cash flow hedges	8	17	60	19
Total other comprehensive earnings/(losses)	(224)	176	(29)	111
Comprehensive earnings/(losses)	524	1,255	1,580	2,158
less: Comprehensive earnings/(losses) attributable to noncontrolling interests	(10)	3	(8)	1
Comprehensive earnings/(losses) attributable to Mondelēz International	$ 534	$ 1,252	$ 1,588	$ 2,157

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
ASSETS
Cash and cash equivalents	$ 1,924	$ 3,546
Trade receivables (net of allowances of $45 at June 30, 2022 and $37 at December 31, 2021)	2,467	2,337
Other receivables (net of allowances of $48 at June 30, 2022 and $49 at December 31, 2021)	715	851
Inventories, net	3,038	2,708
Other current assets	1,066	900
Total current assets	9,210	10,342
Property, plant and equipment, net	8,753	8,658
Operating lease right of use assets	626	613
Goodwill	22,103	21,978
Intangible assets, net	18,339	18,291
Prepaid pension assets	1,141	1,009
Deferred income taxes	551	541
Equity method investments	4,655	5,289
Other assets	636	371
TOTAL ASSETS	66,014	67,092
LIABILITIES
Short-term borrowings	605	216
Current portion of long-term debt	746	1,746
Accounts payable	6,787	6,730
Accrued marketing	2,151	2,097
Accrued employment costs	729	822
Other current liabilities	2,560	2,397
Total current liabilities	13,578	14,008
Long-term debt	17,861	17,550
Long-term operating lease liabilities	489	459
Deferred income taxes	3,580	3,444
Accrued pension costs	591	681
Accrued postretirement health care costs	299	301
Other liabilities	2,063	2,326
TOTAL LIABILITIES	38,461	38,769
Commitments and Contingencies (Note 12)
EQUITY
Common Stock, no par value (5,000,000,000 shares authorized and 1,996,537,778 shares issued at June 30, 2022 and December 31, 2021)	0	0
Additional paid-in capital	32,086	32,097
Retained earnings	31,431	30,806
Accumulated other comprehensive losses	(10,638)	(10,624)
Treasury stock, at cost (624,240,103 shares at June 30, 2022 and 604,907,239 shares at December 31, 2021)	(25,368)	(24,010)
Total Mondelēz International Shareholders’ Equity	27,511	28,269
Noncontrolling interest	42	54
TOTAL EQUITY	27,553	28,323
TOTAL LIABILITIES AND EQUITY	$ 66,014	$ 67,092

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Trade receivables, allowances	$ 45	$ 37
Other receivables, allowances	$ 48	$ 49
Common stock, no par value (in dollars per share)	$ 0	$ 0
Common stock, shares authorized (in shares)	5,000,000,000	5,000,000,000
Common stock, shares issued (in shares)	1,996,537,778	1,996,537,778
Treasury stock, at cost (in shares)	624,240,103	604,907,239

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, 2020	$ 27,654	$ 0	$ 32,070	$ 28,402	$ (10,690)	$ (22,204)	$ 76
Comprehensive earnings/(losses):
Net earnings	2,047			2,039			8
Other comprehensive earnings/(losses), net of income taxes	111				118		(7)
Exercise of stock options and issuance of other stock awards	161		(28)	(18)		207
Common Stock repurchased	(1,468)					(1,468)
Cash dividends declared	(889)			(889)
Dividends paid on noncontrolling interest and other activities	4			4			0
Balance at end of period at Jun. 30, 2021	27,620	0	32,042	29,538	(10,572)	(23,465)	77
Balance at beginning of period at Mar. 31, 2021	27,149	0	32,009	28,903	(10,746)	(23,091)	74
Comprehensive earnings/(losses):
Net earnings	1,079			1,078			1
Other comprehensive earnings/(losses), net of income taxes	176				174		2
Exercise of stock options and issuance of other stock awards	107		33	(3)		77
Common Stock repurchased	(451)					(451)
Cash dividends declared	(444)			(444)
Dividends paid on noncontrolling interest and other activities	4			4			0
Balance at end of period at Jun. 30, 2021	27,620	0	32,042	29,538	(10,572)	(23,465)	77
Balance at beginning of period at Dec. 31, 2021	28,323	0	32,097	30,806	(10,624)	(24,010)	54
Comprehensive earnings/(losses):
Net earnings	1,609			1,602			7
Other comprehensive earnings/(losses), net of income taxes	(29)				(14)		(15)
Exercise of stock options and issuance of other stock awards	125		(11)	(11)		147
Common Stock repurchased	(1,505)					(1,505)
Cash dividends declared	(969)			(969)
Dividends paid on noncontrolling interest and other activities	(1)			3			(4)
Balance at end of period at Jun. 30, 2022	27,553	0	32,086	31,431	(10,638)	(25,368)	42
Balance at beginning of period at Mar. 31, 2022	28,216	0	32,053	31,163	(10,425)	(24,630)	55
Comprehensive earnings/(losses):
Net earnings	748			747			1
Other comprehensive earnings/(losses), net of income taxes	(224)				(213)		(11)
Exercise of stock options and issuance of other stock awards	65		33	0		32
Common Stock repurchased	(770)					(770)
Cash dividends declared	(482)			(482)
Dividends paid on noncontrolling interest and other activities	0			3			(3)
Balance at end of period at Jun. 30, 2022	$ 27,553	$ 0	$ 32,086	$ 31,431	$ (10,638)	$ (25,368)	$ 42

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Equity (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Retained Earnings
Cash dividends declared (in dollars per share)	$ 0.350	$ 0.315	$ 0.700	$ 0.630

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
CASH PROVIDED BY/(USED IN) OPERATING ACTIVITIES
Net earnings	$ 1,609	$ 2,047
Adjustments to reconcile net earnings to operating cash flows:
Depreciation and amortization	548	564
Stock-based compensation expense	56	63
Deferred income tax (benefit)/provision	(32)	92
Asset impairments and accelerated depreciation	163	152
Loss on early extinguishment of debt	38	110
Gain on acquisition	0	(9)
Loss/(gain) on equity method investment transactions	13	(495)
Equity method investment net earnings	(215)	(185)
Distributions from equity method investments	121	94
Other non-cash items, net	150	(5)
Change in assets and liabilities, net of acquisitions and divestitures:
Receivables, net	(227)	42
Inventories, net	(366)	(289)
Accounts payable	183	182
Other current assets	(142)	(190)
Other current liabilities	179	(231)
Change in pension and postretirement assets and liabilities, net	(111)	(150)
Net cash provided by operating activities	1,967	1,792
CASH PROVIDED BY/(USED IN) INVESTING ACTIVITIES
Capital expenditures	(385)	(410)
Acquisitions, net of cash received	(1,402)	(833)
Proceeds from divestitures including equity method investments	595	998
Proceeds from sale of property, plant and equipment and other	193	25
Net cash used in investing activities	(999)	(220)
CASH PROVIDED BY/(USED IN) FINANCING ACTIVITIES
Net issuances/(repayments) of other short-term borrowings	219	37
Long-term debt proceeds	1,991	2,378
Long-term debt repayments	(2,329)	(3,376)
Repurchases of Common Stock	(1,506)	(1,498)
Dividends paid	(977)	(896)
Other	86	127
Net cash used in financing activities	(2,516)	(3,228)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(70)	(25)
Cash, cash equivalents and restricted cash:
(Decrease)/Increase	(1,618)	(1,681)
Balance at beginning of period	3,553	3,650
Balance at end of period	$ 1,935	$ 1,969

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation	Note 1. Basis of Presentation Our interim condensed consolidated financial statements are unaudited. Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been omitted. It is management’s opinion that these financial statements include all normal and recurring adjustments necessary for a fair presentation of our results of operations, financial position and cash flows. Results of operations for any interim period are not necessarily indicative of future or annual results. For a complete set of consolidated financial statements and related notes, refer to our Annual Report on Form 10-K for the year ended December 31, 2021. Principles of Consolidation: The condensed consolidated financial statements include Mondelēz International, Inc. as well as our wholly owned and majority owned subsidiaries, except our Venezuelan subsidiaries that were deconsolidated in 2015. All intercompany transactions are eliminated. The noncontrolling interest represents the noncontrolling investors' interests in the results of subsidiaries that we control and consolidate. We account for investments over which we exercise significant influence under the equity method of accounting. Investments over which we do not have significant influence or control are not material and as there are no readily determinable fair values for the equity interests, these investments are carried at cost with changes in the investment recognized to the extent cash is received. War in Ukraine In February 2022, Russia began a military invasion of Ukraine and we closed our operations and facilities in Ukraine. In March 2022, our two Ukrainian manufacturing facilities in Trostyanets and Vyshhorod were significantly damaged. During the first quarter of 2022, we evaluated and impaired these and other assets. We recorded $143 million of total expenses ($145 million after-tax) incurred as a direct result of the war, including $75 million recorded in asset impairment and exit costs , $44 million in cost of sales and $24 million in selling, general and administrative expenses. We recorded $75 million of property, plant and equipment impairments, $33 million of estimated inventory write-offs, $19 million of increased estimated allowances for trade receivables and $16 million in accrued expenses. During the second quarter of 2022, we reversed approximately $15 million of previously recorded charges as a result of higher than expected collection of trade receivables and inventory recoveries. We continue to consolidate both our Ukrainian and Russian subsidiaries and continue to evaluate our ability to control our operating activities and businesses on an ongoing basis. In connection with these findings and impacts, we have made estimates and assumptions based on information available to us. We base our estimates on historical experience, expectations of future impacts and other assumptions that we believe are reasonable. Given the uncertainty of the ongoing effects of the war in Ukraine, and its impact on the global economic environment, our estimates could be significantly different than future performance. Currency Translation and Highly Inflationary Accounting : We translate the results of operations of our subsidiaries from multiple currencies using average exchange rates during each period and translate balance sheet accounts using exchange rates at the end of each period. We record currency translation adjustments as a component of equity (except for highly inflationary currencies) and realized exchange gains and losses on currency transactions in earnings. Highly inflationary accounting is triggered when a country’s three-year cumulative inflation rate exceeds 100%. It requires the remeasurement of financial statements of subsidiaries in the country from the functional currency of the subsidiary to our U.S. dollar reporting currency. Local currency monetary assets and liabilities are remeasured into U.S. dollars using exchange rates as of the latest balance sheet date, with remeasurement gains and losses recognized in net earnings. Türkiye. During the first quarter of 2022, primarily based on data published by the Türkiye Statistical Institute that indicated that Türkiye's three-year cumulative inflation rate exceeded 100%, we concluded that Türkiye became a highly inflationary economy for accounting purposes. As of April 1, 2022, we began to apply highly inflationary accounting for our subsidiaries operating in Türkiye and change their functional currency from the Turkish lira to the U.S. dollar. Our operations in Türkiye contributed $46 million or 0.6% of our condensed consolidated net revenues in the three months and $90 million or 0.6% of our condensed consolidated net revenues in the six months ended June 30, 2022. As of June 30, 2022, our operations in Türkiye had $11 million of Turkish lira denominated net monetary liabilities. Within selling, general and administrative expenses, we recorded a remeasurement loss of less than $1 million during the three months ended June 30, 2022 related to the revaluation of the Turkish lira denominated net monetary position during the quarter. Argentina. During the second quarter of 2018, primarily based on published estimates that indicated that Argentina's three-year cumulative inflation rate exceeded 100%, we concluded that Argentina became a highly inflationary economy for accounting purposes. As of July 1, 2018, we began to apply highly inflationary accounting for our Argentinean subsidiaries and changed their functional currency from the Argentinean peso to the U.S. dollar. Our operations in Argentina contributed $138 million or 1.9% of consolidated net revenues in the three months and $268 million or 1.8% of our condensed consolidated net revenues in the six months ended June 30, 2022. As of June 30, 2022, our Argentinean operations had $28 million of Argentinean peso denominated net monetary assets. Within selling, general and administrative expenses, we recorded a remeasurement loss of $10 million during the three months and $15 million during the six months ended June 30, 2022 as well as a remeasurement loss of $3 million during the three months and $8 million during the six months ended June 30, 2021 related to the revaluation of the Argentinean peso denominated net monetary position over these periods. Other Countries. Since we sell our products in over 150 countries and have operations in approximately 80 countries, we monitor economic and currency-related risks and seek to take protective measures in response to potential exposures. We continue to monitor the developments in Ukraine and Russia as well as in the ongoing COVID-19 global pandemic and related impacts to our business operations, currencies and net monetary exposures. Since the global onset of COVID-19 in early 2020 and compounded by the ongoing war in Ukraine and the impact of general economic conditions, including inflation, most countries in which we do business experienced periods of significant economic uncertainty as well as exchange rate volatility. At this time, within our consolidated entities, Argentina and Türkiye are highly inflationary economies as noted above, and we continue to monitor currency volatility and associated risks, such as increased risk of highly inflationary economies and related accounting. 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 $11 million as of June 30, 2022 and $7 million as of December 31, 2021. Total cash, cash equivalents and restricted cash was $1,935 million as of June 30, 2022 and $3,553 million as of December 31, 2021. Allowances for Credit Losses: The allowances for credit losses are recorded against our receivables. They are developed at a country and region level based on historical collection experiences, current economic condition of specific customers and the forecasted economic condition of countries using various factors such as bond default rates and consumption indexes. We write off receivables once it is determined that the receivables are no longer collectible and as allowed by local laws. Changes in allowances for credit losses consisted of: Allowance for Trade Receivables Allowance for Other Current Receivables Allowance for Long-Term Receivables (in millions) Balance at January 1, 2022 $ (37) $ (49) $ (10) Current period provision for expected credit losses (10) (4) (5) Write-offs charged against the allowance 1 3 — Currency 1 2 (1) Balance at June 30, 2022 $ (45) $ (48) $ (16) 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 $700 million as of June 30, 2022 and $761 million as of December 31, 2021. The incremental cost of factoring receivables under this arrangement was not material for all periods presented. The proceeds from the sales of receivables are included in cash from operating activities in the condensed consolidated statements of cash flows. Non-Cash Lease Transactions: We recorded $125 million in operating lease and $76 million in finance lease right-of-use assets obtained in exchange for lease obligations during the six months ended June 30, 2022 and $115 million in operating lease and $44 million in finance lease right-of-use assets obtained in exchange for lease obligations during the six months ended June 30, 2021. New Accounting Pronouncements: In October 2021, the Financial Accounting Standards Board (“FASB”) issued an Accounting Standards Update (“ASU”) which requires companies to recognize and measure customer contract assets and contract liabilities acquired in a business combination as if the acquiring company originated the related revenue contracts. Prior to adopting this ASU, acquired contract assets and liabilities were measured at fair value. This ASU is effective for fiscal years beginning after December 15, 2022 and early adoption is permitted. We are evaluating the timing and effects of adopting this ASU and currently we do not expect this ASU to have a material impact on our consolidated financial statements. In March 2020 and subsequently in January 2021, the FASB issued an ASU to provide optional accounting guidance for a limited period of time to ease the potential burden in accounting for reference rate reform. The guidance provides optional expedients and exceptions to existing accounting requirements for contract modifications and hedge accounting related to transitioning from discontinued reference rates, such as LIBOR, to alternative reference rates, if certain criteria are met. The new accounting requirements can be applied as of the beginning of the interim period including March 12, 2020, or any date thereafter, through December 31, 2022. We expect to adopt this standard in the fourth quarter of 2022. Based on our evaluation of our contracts to date, we do not expect this ASU to have a material impact on our consolidated financial statements.

Acquisitions and Divestitures

Acquisitions and Divestitures	6 Months Ended
	Jun. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Acquisitions and Divestitures	Note 2. Acquisitions and Divestitures On June 20, 2022, we announced an agreement to acquire Clif Bar & Company (“Clif Bar”), a leading U.S. maker of nutritious energy bars with organic ingredients for a purchase price of approximately $2.9 billion, subject to closing purchase price adjustments. The acquisition of Clif Bar includes a contingent consideration arrangement that may require us to pay additional consideration to the sellers for achieving certain revenue and earnings targets in 2025 and 2026 that exceed our base financial projections for the business implied in the upfront purchase price. The possible payments range from zero to a maximum total of $2.4 billion, with higher payouts requiring the achievement of targets that generate rates of returns in excess of the base financial projections. In connection with this acquisition, we expect to generate a meaningful cash tax benefit over time from the amortization of acquisition-related intangibles. The transaction, which will be funded through a combination of debt and cash on hand, is subject to relevant antitrust approvals and closing conditions and is expected to close in the third quarter of 2022. During the second quarter of 2022, we incurred $4 million of acquisition-related costs. On April 24, 2022, we entered into an agreement with Grupo Bimbo to acquire Ricolino, its confectionery business located primarily in Mexico for a purchase price of approximately $1.3 billion, subject to closing purchase price adjustments. The transaction, which will be funded through a combination of debt and cash on hand, is subject to relevant antitrust approvals and closing conditions and is expected to close late in the third quarter or early in the fourth quarter of 2022. During the second quarter of 2022, we incurred $1 million of acquisition-related costs. On January 3, 2022, we acquired Chipita Global S.A. (“Chipita”), a leading croissants and baked snacks company in the Central and Eastern European markets. The acquisition of Chipita offers a strategic complement to our existing portfolio and advances our strategy to become the global leader in broader snacking. The cash consideration paid for Chipita totaled €1.2 billion ($1.4 billion), net of cash received, plus the assumption of Chipita’s debt of €0.4 billion ($0.4 billion) for a total purchase price of €1.7 billion ($1.8 billion). We are working to complete the valuation and have recorded a preliminary purchase price allocation of: (in millions) Cash $ 52 Receivables 102 Inventory 60 Other current assets 3 Property, plant and equipment 383 Finance leases right of use assets 8 Definite life intangible assets 48 Indefinite life intangible assets 686 Goodwill 791 Other assets 77 Assets acquired $ 2,210 Current liabilities 133 Deferred tax liability 158 Finance lease liabilities 8 Other liabilities 21 Total purchase price $ 1,890 Less: long-term debt (436) Less: cash received (52) Net Cash Paid $ 1,402 Within identifiable intangible assets, we allocated $686 million to trade names, which have an indefinite-life. The fair value for the 7 Days trade name, which is the primary asset acquired, was determined using the multi-period excess earnings method under the income approach at the acquisition date. The fair value measurements of intangible assets are based on significant unobservable inputs, and thus represent Leve l 3 inputs. Significant assumptions used in assessing the fair values of intangible assets include forecasted future cash flows and discount rates. Goodwill was determined as the excess of the purchase price over the fair value of the net assets acquired and arises principally as a result of expansion opportunities and synergies across both new and legacy product categories. None of the goodwill recognized is expected to be deductible for income tax purposes. All of the goodwill was assigned to the Europe segment. Chipita added incremental net revenues of $180 million during the three months and $332 million during t he six months ended June 30, 2022, and operating income of $10 million during the three months and $14 million during the six months ended June 30, 2022. We incurred acquisition-related costs of $21 million during the six months ended June 30, 2022 and $6 million during the three months and six months ended June 30, 2021. We incurred integration costs of $36 million during the three months and $71 million during the six months ended June 30, 2022. On November 1, 2021, we completed the sale of MaxFoods Pty Ltd, an Australian packaged seafood business that we had acquired as part of our acquisition of Gourmet Food Holdings Pty Ltd (“Gourmet Food”). The sales price was $57 million Australian dollars ($41 million), net of cash divested with the business, and we recorded an immaterial loss on the transaction. On April 1, 2021, we acquired Gourmet Food, a leading Australian food company in the premium biscuit and cracker category, for closing cash consideration of approximately $450 million Australian dollars ($343 million), net of cash received. We have recorded a purchase price allocation of net tangible and intangible assets acquired and liabilities assumed of $41 million to indefinite-lived intangible assets, $80 million to definite-lived intangible assets, $164 million to goodwill, $19 million to property, plant and equipment, $18 million to inventory, $25 million to accounts receivable, $12 million to other assets, $5 million to operating right of use assets, $3 million to other current assets, $19 million to current liabilities and $5 million to long-term operating lease liabilities. Through the one-year anniversary of the acquisition, Gourmet Food added incremental net revenues of $14 million, and operating income of $1 million during the six months ended June 30, 2022. We incurred acquisition-related costs of $6 million during the three months and $7 million during the six months ended June 30, 2021. On March 25, 2021, we acquired a majority interest in Lion/Gemstone Topco Ltd ("Grenade"), a performance nutrition leader in the United Kingdom, for closing cash consideration of £188 million ($261 million), net of cash received. The acquisition of Grenade expands our position into the premium nutrition segment. We have recorded a purchase price allocation of net tangible and intangible assets acquired and liabilities assumed of $82 million to indefinite-lived intangible assets, $28 million to definite-lived intangible assets, $181 million to goodwill, $1 million to property, plant and equipment, $11 million to inventory, $18 million to accounts receivable, $25 million to current liabilities, $20 million to deferred tax liabilities and $15 million to long-term other liabilities. Through the one-year anniversary of the acquisition, Grenade added incremental net revenues of $21 million, and operating income of $2 million during the six months ended June 30, 2022. We incurred acquisition-related costs of $2 million during the six months ended June 30, 2021. On January 4, 2021, we acquired the remaining 93% of equity of Hu Master Holdings ("Hu"), a category leader in premium chocolate in the United States, which provides a strategic complement to our snacking portfolio in North America through growth opportunities in chocolate and other categories in the well-being category. The initial cash consideration paid was $229 million, net of cash received, and the Company may be required to pay additional contingent consideration. The estimated fair value of the contingent consideration obligation at the acquisition date was $132 million and was determined using a Monte Carlo simulation based on forecasted future results. As a result of acquiring the remaining equity interest, we consolidated the operations prospectively from the date of acquisition and recorded a pre-tax gain of $9 million ($7 million after-tax) related to stepping up our previously-held $8 million (7%) investment to fair value. We have recorded a purchase price allocation of net tangible and intangible assets acquired and liabilities assumed of $123 million to indefinite-lived intangible assets, $51 million to definite-lived intangible assets, $202 million to goodwill, $1 million to property, plant and equipment, $2 million to inventory, $4 million to accounts receivable, $5 million to current liabilities and $132 million to long-term other liabilities. We incurred acquisition-related costs of $5 million during the three months and $9 million during the six months ended June 30, 2021.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2022
Inventory Disclosure [Abstract]
Inventories	Note 3. Inventories Inventories consisted of the following: As of June 30, As of December 31, 2021 (in millions) Raw materials $ 1,028 $ 770 Finished product 2,156 2,054 3,184 2,824 Inventory reserves (146) (116) Inventories, net $ 3,038 $ 2,708

Property, Plant and Equipment

Property, Plant and Equipment	6 Months Ended
	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Note 4. Property, Plant and Equipment Property, plant and equipment consisted of the following: As of June 30, As of December 31, 2021 (in millions) Land and land improvements $ 381 $ 379 Buildings and building improvements 3,235 3,139 Machinery and equipment 11,746 11,842 Construction in progress 728 732 16,090 16,092 Accumulated depreciation (7,337) (7,434) Property, plant and equipment, net $ 8,753 $ 8,658 For the six months ended June 30, 2022, capital expenditures of $385 million excluded $239 million of accrued capital expenditures remaining unpaid at June 30, 2022 and included payment for $249 million of capital expenditures that were accrued and unpaid at December 31, 2021. For the six months ended June 30, 2021, capital expenditures of $410 million excluded $236 million of accrued capital expenditures remaining unpaid at June 30, 2021 and included payment for $275 million of capital expenditures that were accrued and unpaid at December 31, 2020. In connection with our restructuring program, we recorded non-cash property, plant and equipment write-downs (including accelerated depreciation and asset impairments) and losses/(gains) on disposal in the condensed consolidated statements of earnings within asset impairment and exit costs and within the segment results as follows (refer to Note 7, Restructuring Program ). For the Three Months Ended For the Six Months Ended 2022 2021 2022 2021 (in millions) Latin America $ (1) $ — $ (1) $ — AMEA — — — (16) Europe 3 3 3 4 North America 3 62 4 117 Total $ 5 $ 65 $ 6 $ 105

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Note 5. Goodwill and Intangible Assets Goodwill by segment was: As of June 30, As of December 31, 2021 (in millions) Latin America $ 698 $ 674 AMEA 3,213 3,365 Europe 8,060 7,830 North America 10,132 10,109 Goodwill $ 22,103 $ 21,978 Intangible assets consisted of the following: As of June 30, As of December 31, 2021 (in millions) Indefinite-life intangible assets $ 17,392 $ 17,299 Definite-life intangible assets 2,950 2,991 20,342 20,290 Accumulated amortization (2,003) (1,999) Intangible assets, net $ 18,339 $ 18,291 Indefinite-life intangible assets consist principally of brand names purchased through our acquisitions of Nabisco Holdings Corp., the Spanish and Portuguese operations of United Biscuits, the global LU biscuit business of Groupe Danone S.A. and Cadbury Limited. Definite-life intangible assets consist primarily of brands, customer-related intangibles, process technology, licenses and non-compete agreements. Amortization expense for intangible assets was $32 million for the three months and $64 million for the six months ended June 30, 2022 and $32 million for the three months and $70 million for the six months ended June 30, 2021. For the next five years, we currently estimate annual amortization expense of approximately $125 million in 2022-2024, approximately $105 million in 2025 and approximately $65 million in 2026 (reflecting June 30, 2022 exchange rates). Changes in goodwill and intangible assets consisted of: Goodwill Intangible (in millions) Balance at January 1, 2022 $ 21,978 $ 20,290 Currency (666) (604) Acquisitions 791 734 Asset impairments — (78) Balance at June 30, 2022 $ 22,103 $ 20,342 Changes to goodwill and intangibles were: • Acquisitions - In connection with our acquisition of Chipita, we recorded a preliminary purchase price allocation of $791 million to goodwill and $734 million to intangible assets. See Note 2, Acquisitions and Divestitures , for additional information. • Asset impairment - As further described below, during the first quarter of 2022, we recorded a $78 million intangible asset impairment in AMEA due to lower than expected growth and profitability of a local biscuit brand sold in select markets in AMEA and Europe. During the second quarter of 2022, we evaluated our goodwill and intangible asset impairment risk through an assessment of potential triggering events, including qualitative and quantitative of the overall global economic environment and impacts from the war in Ukraine. Based on the results of our assessment, we concluded there were no impairment indicators for goodwill and intangible assets. During the first quarter of 2022, we recorded a $78 million impairment charge within asset impairment and exit costs based on the excess carrying value over the estimated fair value of a biscuit brand. During the second quarter of 2021, we recorded $32 million of intangible asset impairments resulting primarily from lower than expected sales growth for one brand across our North America segment. We use several accepted valuation methods in our indefinite-life impairment testing, including relief of royalty, excess earnings and excess margin, that utilize estimates of future sales, earnings growth rates, royalty rates and discount rates in determining a brand's global fair value.

Equity Method Investments

Equity Method Investments	6 Months Ended
	Jun. 30, 2022
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments	Note 6. Equity Method Investments Equity method investments consist of our investments in entities in which we maintain an equity ownership interest and apply the equity method of accounting due to our ability to exert significant influence over decisions relating to their operating and financial affairs. Revenue and expenses of our equity method investees are not consolidated into our financial statements; rather, our proportionate share of the earnings of each investee is reflected as equity method investment net earnings . The carrying values of our equity method investments are also impacted by our proportionate share of items impacting the investee's accumulated other comprehensive income or losses and other items, such as our share of investee dividends. Our equity method investments include, but are not limited to, our ownership interests in JDE Peet's (Euronext Amsterdam: "JDEP"), Keurig Dr Pepper Inc. (Nasdaq: "KDP"), Dong Suh Foods Corporation and Dong Suh Oil & Fats Co. Ltd. Our ownership interests may change over time due to investee stock-based compensation arrangements, share issuances or other equity-related transactions. As of June 30, 2022, we owned 19.8%, 5.3%, 50.0% and 49.0%, respectively, of these companies' outstanding shares. Our investments accounted for under the equity method of accounting totaled $4.7 billion as of June 30, 2022 and $5.3 billion as of December 31, 2021. We recorded equity earnings of $98 million and cash dividends of $14 million in the second quarter of 2022 and equity earnings of $107 million and cash dividends of $20 million in the second quarter of 2021. We recorded equity earnings of $215 million and cash dividends of $121 million in the first six months of 2022 and equity earnings of $185 million and cash dividends of $94 million in the first six months of 2021. Based on the quoted closing prices as of June 30, 2022, the combined fair value of our publicly-traded investments in JDEP and KDP wa s $5.4 billion , and for each investment, its fair value exceeded its carrying value. JDE Peet’s Transactions: On May 8, 2022, we sold approximately 18.6 million of our JDE Peet’s shares back to JDE Peet’s, which reduced our ownership interest by approximately 3%. We received €500 million ($529 million) of proceeds and recorded a loss of €8 million ($8 million) on this sale during the second quarter of 2022. As we will continue to have significant influence, we will continue to account for our investment in JDE Peet's 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. We will continue to have board representation with two directors on the JDE Peet's Board of Directors and we retained certain additional governance rights. On September 20, 2021, we issued €300 million exchangeable bonds, which are redeemable at maturity in September 2024 at their principal amount in cash or, at our option, through the delivery of an equivalent number of JDE Peet’s ordinary shares based on an initial exchange price of €35.40 and, as the case may be, an additional amount in cash. If all bonds were redeemed in exchange for JDE Peet's shares, this would represent approximately 8.5 million shares or approximately 9% of our equity interest in JDE Peet's as of June 30, 2022. Refer to Note 9, Financial Instruments , for further details on this transaction. Keurig Dr Pepper Transactions: On June 7, 2021, we participated in a secondary offering of KDP shares and sold approximately 28 million shares, which reduced our ownership interest by 2% of the total outstanding shares. We received $997 million of proceeds and recorded a pre-tax gain of $520 million (or $392 million after-tax) during the second quarter of 2021. As we will continue to have significant influence, we will 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. We will continue to have board representation with one director on the KDP Board of Directors and we retained certain additional governance rights.

Restructuring Program

Restructuring Program	6 Months Ended
	Jun. 30, 2022
Restructuring and Related Activities [Abstract]
Restructuring Program	Note 7. Restructuring Program On May 6, 2014, our Board of Directors approved a $3.5 billion 2014-2018 restructuring program and up to $2.2 billion of capital expenditures. On August 31, 2016, our Board of Directors approved a $600 million reallocation between restructuring program cash costs and capital expenditures so the $5.7 billion program consisted of approximately $4.1 billion of restructuring program charges ($3.1 billion cash costs and $1.0 billion non-cash costs) and up to $1.6 billion of capital expenditures. On September 6, 2018, our Board of Directors approved an extension of the restructuring program through 2022, an increase of $1.3 billion in the program charges and an increase of $700 million in capital expenditures. On October 21, 2021, our Board of Directors approved an extension of the restructuring program through 2023. The total $7.7 billion program now consists of $5.4 billion of program charges ($4.1 billion of cash costs and $1.3 billion of non-cash costs) and total capital expenditures of $2.3 billion to be incurred over the life of the program. The current restructuring program, as increased and extended by these actions, is now called the Simplify to Grow Program. The primary objective of the Simplify to Grow Program is to reduce our operating cost structure in both our supply chain and overhead costs. The program covers severance as well as asset disposals and other manufacturing and procurement-related one-time costs. Since inception, we have incurred total restructuring and implementation charges of $5.1 billion related to the Simplify to Grow Program. We expect to incur the remainder of the program charges by year-end 2023. Restructuring Costs : The Simplify to Grow Program liability activity for the six months ended June 30, 2022 was: Severance Asset Total (in millions) Liability balance, January 1, 2022 $ 211 $ — $ 211 Charges 8 7 15 Cash spent (33) (33) Non-cash settlements/adjustments (2) (7) (9) Currency (10) — (10) Liability balance, June 30, 2022 $ 174 $ — $ 174 • We recorded restructuring charges of $4 million in the second quarter of 2022 and $100 million in the second quarter of 2021 and $15 million in the first six months of 2022 and $188 million in the first six months of 2021 within asset impairment and exit costs and benefit plan non-service income. • We spent $16 million in the second quarter of 2022 and $30 million in the second quarter of 2021 and $33 million in the first six months of 2022 and $64 million in the first six months of 2021 in cash severance and related costs. • We recognized non-cash asset write-downs (including accelerated depreciation and asset impairments), and other adjustments, including any gains on sale of restructuring program assets, which totaled $7 million in the second quarter of 2022 and $76 million in the second quarter of 2021 and $9 million in the first six months of 2022 and $116 million in the first six months of 2021. • At June 30, 2022, $119 million of our net restructuring liability was recorded within other current liabilities and $55 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 $19 million in the second quarter of 2022 and $33 million in the second quarter of 2021 and $39 million in the first six months of 2022 and $67 million in the first six months of 2021. We recorded these costs within cost of sales and general corporate expense within selling, general and administrative expenses. Restructuring and Implementation Costs: During the three and six months ended June 30, 2022 and June 30, 2021, and since inception of the Simplify to Grow Program, we recorded the following restructuring and implementation costs within segment operating income and earnings before income taxes: Latin AMEA Europe North Corporate Total (in millions) For the Three Months Ended June 30, 2022 Restructuring Costs $ (2) $ — $ — $ 4 $ 2 $ 4 Implementation Costs 3 3 8 9 (4) 19 Total $ 1 $ 3 $ 8 $ 13 $ (2) $ 23 For the Three Months Ended June 30, 2021 Restructuring Costs $ — $ 2 $ (1) $ 92 $ 7 $ 100 Implementation Costs 4 3 11 17 (2) 33 Total $ 4 $ 5 $ 10 $ 109 $ 5 $ 133 For the Six Months Ended June 30, 2022 Restructuring Costs $ (3) $ 2 $ 2 $ 12 $ 2 $ 15 Implementation Costs 4 4 13 16 2 39 Total $ 1 $ 6 $ 15 $ 28 $ 4 $ 54 For the Six Months Ended June 30, 2021 Restructuring Costs $ 3 $ (19) $ 5 $ 193 $ 6 $ 188 Implementation Costs 7 5 21 27 7 67 Total $ 10 $ (14) $ 26 $ 220 $ 13 $ 255 Total Project (Inception to Date) Restructuring Costs $ 551 $ 543 $ 1,149 $ 657 $ 151 $ 3,051 Implementation Costs 300 243 557 569 358 2,027 Total $ 851 $ 786 $ 1,706 $ 1,226 $ 509 $ 5,078

Debt and Borrowing Arrangements

Debt and Borrowing Arrangements	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Debt and Borrowing Arrangements	Note 8. Debt and Borrowing Arrangements Short-Term Borrowings: Our short-term borrowings and related weighted-average interest rates consisted of: As of June 30, 2022 As of December 31, 2021 Amount Weighted- Amount Weighted- (in millions, except percentages) Commercial paper $ 535 1.9 % $ 192 0.2 % Bank loans 70 7.0 % 24 8.6 % Total short-term borrowings $ 605 $ 216 Our uncommitted credit lines and committed credit lines available as of June 30, 2022 and December 31, 2021 include: As of June 30, 2022 As of December 31, 2021 Facility Amount Borrowed Amount Facility Amount Borrowed Amount (in millions) Uncommitted credit facilities $ 1,326 $ 70 $ 1,367 $ 24 Credit facility expiry (1) : November 30, 2022 (2) 2,000 — — — February 23, 2022 — — 2,500 — February 22, 2023 2,500 — — — February 27, 2024 — — 4,500 — February 23, 2027 4,500 — — — (1) We maintain a multi-year senior unsecured revolving credit facility for general corporate purposes, including working capital needs, and to support our commercial paper program. The revolving credit agreement includes a covenant that we maintain a minimum shareholders' equity of at least $25.0 billion, excluding accumulated other comprehensive earnings/(losses), the cumulative effects of any changes in accounting principles and earnings/(losses) recognized in connection with the ongoing application of any mark-to-market accounting for pensions and other retirement plans. At June 30, 2022, we complied with this covenant as our shareholders' equity, as defined by the covenant, was $38.1 billion. The revolving credit facility also contains customary representations, covenants and events of default. There are no credit rating triggers, provisions or other financial covenants that could require us to post collateral as security. (2) On March 31, 2022, we entered into a supplemental term loan credit facility that can be utilized for general corporate purposes, including acquisitions. Under this agreement we may draw up to a total of $2.0 billion in term loans from the facility. The maturity dates of any loans drawn under this facility will be three years after the funding date of the applicable loan(s). On July 11, 2022, we entered into a supplemental term loan credit facility that can be utilized for general corporate purposes, including acquisitions. Under this agreement we may draw up to a total of $2.0 billion in term loans from the facility. The maturity dates of any loans drawn under this facility will be eighteen months after the funding date of the applicable loan(s). Long-Term Debt: Tender Offers: On March 18, 2022, we completed a tender offer in cash and redeemed long term U.S. dollar denominated notes for the following amounts (in millions): Interest Rate Redemption Date Maturity Date Amount Redeemed USD Equivalent 3.625% March 2022 February 2026 $130 $130 4.125% March 2022 May 2028 $211 $211 2.750% March 2022 April 2030 $500 $500 6.500% March 2022 November 2031 $17 $17 7.000% March 2022 August 2037 $10 $10 6.875% March 2022 February 2038 $21 $21 6.875% March 2022 January 2039 $8 $8 6.500% March 2022 February 2040 $36 $36 4.625% March 2022 May 2048 $54 $54 We recorded a $129 million loss on debt extinguishment and related expenses within interest and other expense, net, consisting of $38 million paid in excess of carrying value of the debt and from recognizing unamortized discounts and deferred financing costs in earnings and $91 million from recognizing unamortized forward starting swap losses in earnings at the time of the debt extinguishment. The cash payments related to the debt extinguishment were classified as cash outflows from financing activities in the consolidated statement of cash flows. Redemptions: On March 18, 2022, we completed a redemption of long term U.S. dollar denominated notes for the following amounts (in millions): Interest Rate Redemption Date Maturity Date Amount Redeemed USD Equivalent 0.625% March 2022 July 2022 $1,000 $1,000 Debt Repayments On January 3, 2022, we closed on our acquisition of Chipita and assumed and entirely paid down €0.4 billion ($0.4 billion) of Chipita's debt during the six months ended June 30, 2022. Issuances: During the six months ended June 30, 2022, we issued the following notes (in millions): Issuance Date Interest Rate Maturity Date Gross Proceeds (1) Gross Proceeds USD Equivalent March 2022 2.125% March 2024 $500 $500 March 2022 2.625% March 2027 $750 $750 March 2022 3.000% March 2032 $750 $750 (1) Represents gross proceeds from the issuance of notes excluding debt issuance costs, discounts and premiums. Fair Value of Our Debt: The fair value of our short-term borrowings at June 30, 2022 and December 31, 2021 reflects current market interest rates and approximates the amounts we have recorded on our consolidated balance sheets. The fair value of our long-term debt was determined using quoted prices in active markets (Level 1 valuation data) for the publicly traded debt obligations. As of June 30, 2022 As of December 31, 2021 (in millions) Fair Value $ 17,018 $ 20,249 Carrying Value $ 19,212 $ 19,512 Interest and Other Expense, net: Interest and other expense, net consisted of: For the Three Months Ended For the Six Months Ended 2022 2021 2022 2021 (in millions) Interest expense, debt $ 89 $ 90 $ 180 $ 188 Loss on debt extinguishment and — — 129 137 Other expense/(income), net 9 (32) (43) (49) Interest and other expense, net $ 98 $ 58 $ 266 $ 276 Other income includes amounts excluded from hedge effectiveness related to our net investment hedge derivative contracts and early settlement of forecasted currency derivative transactions due to changes in related future cash flows. Refer to Note 9, Financial Instruments .

Financial Instruments

Financial Instruments	6 Months Ended
	Jun. 30, 2022
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 June 30, 2022 As of December 31, 2021 Asset Liability Asset Liability (in millions) Derivatives designated as accounting hedges: Currency exchange contracts $ 3 $ 7 $ — $ — Interest rate contracts 126 — 27 17 Net investment hedge derivative contracts (1) 387 21 117 45 $ 516 $ 28 $ 144 $ 62 Derivatives not designated as Currency exchange contracts $ 221 $ 150 $ 156 $ 40 Commodity contracts 306 145 387 137 Equity method investment contracts (2) — 3 — 3 $ 527 $ 298 $ 543 $ 180 Total fair value $ 1,043 $ 326 $ 687 $ 242 (1) Net investment hedge derivative contracts consist of cross-currency interest rate swaps, forward contracts and options. We also designate some of our non-U.S. dollar denominated debt to hedge a portion of our net investments in our non-U.S. operations. This debt is not reflected in the table above, but is included in long-term debt discussed in Note 8, Debt and Borrowing Arrangements . Both net investment hedge derivative contracts and non-U.S. dollar denominated debt acting as net investment hedges are also disclosed in the Derivative Volume table and the Hedges of Net Investments in International Operations section appearing later in this footnote. (2) Equity method investment contracts consist of the bifurcated embedded derivative option that was a component of the September 20, 2021 €300 million exchangeable bonds issuance. Refer to Note 6, Equity Method Investments . Derivatives designated as accounting hedges include cash flow and net investment hedge derivative contracts. Our currency exchange, commodity derivative and equity method investment contracts are economic hedges that are not designated as accounting hedges. We record derivative assets and liabilities on a gross basis on our condensed consolidated balance sheets. The fair value of our asset derivatives is recorded within other current assets and other assets and the fair value of our liability derivatives is recorded within other current liabilities and other liabilities. The fair values (asset/(liability)) of our derivative instruments were determined using: As of June 30, 2022 Total Quoted Prices in Significant Significant (in millions) Currency exchange contracts $ 67 $ — $ 67 $ — Commodity contracts 161 109 52 — Interest rate contracts 126 — 126 — Net investment hedge contracts 366 — 366 — Equity method investment contracts (3) — (3) — Total derivatives $ 717 $ 109 $ 608 $ — As of December 31, 2021 Total Quoted Prices in Significant Significant (in millions) Currency exchange contracts $ 116 $ — $ 116 $ — Commodity contracts 251 161 90 — Interest rate contracts 10 — 10 — Net investment hedge contracts 71 — 71 — Equity method investment contracts (3) — (3) — Total derivatives $ 445 $ 161 $ 284 $ — Level 1 financial assets and liabilities consist of exchange-traded commodity futures and listed options. The fair value of these instruments is determined based on quoted market prices on commodity exchanges. Level 2 financial assets and liabilities consist primarily of over-the-counter (“OTC”) currency exchange forwards, options and swaps; commodity forwards and options; net investment hedge contracts; and interest rate swaps. Our currency exchange contracts are valued using an income approach based on observable market forward rates less the contract rate multiplied by the notional amount. Commodity derivatives are valued using an income approach based on the observable market commodity index prices less the contract rate multiplied by the notional amount or based on pricing models that rely on market observable inputs such as commodity prices. Our bifurcated exchange options are valued, as derivative instrument liabilities, using the Black-Scholes option pricing model. This model requires assumptions related to the market price of the underlying note and associated credit spread combined with the share of price, expected dividend yield, and expected volatility of the JDE Peet’s shares over the life of the option. Our calculation of the fair value of interest rate swaps is derived from a discounted cash flow analysis based on the terms of the contract and the observable market interest rate curve. Our calculation of the fair value of financial instruments takes into consideration the risk of nonperformance, including counterparty credit risk. Our OTC derivative transactions are governed by International Swap Dealers Association agreements and other standard industry contracts. Under these agreements, we do not post nor require collateral from our counterparties. The majority of our derivative contracts do not have a legal right of set-off. We manage the credit risk in connection with these and all our derivatives by entering into transactions with counterparties with investment grade credit ratings, limiting the amount of exposure with each counterparty and monitoring the financial condition of our counterparties. Derivative Volume: The notional values of our hedging instruments were: Notional Amount As of June 30, As of December 31, 2021 (in millions) Currency exchange contracts: Intercompany loans and forecasted interest payments $ 2,270 $ 1,891 Forecasted transactions 6,245 4,831 Commodity contracts 11,131 9,694 Interest rate contracts 1,850 1,850 Net investment hedges: Net investment hedge derivative contracts 7,090 3,915 Non-U.S. dollar debt designated as net investment hedges Euro notes 3,339 3,622 British pound sterling notes 321 356 Swiss franc notes 775 811 Canadian dollar notes 466 475 Cash Flow Hedges: Cash flow hedge activity, net of taxes, within accumulated other comprehensive earnings/(losses) included: For the Three Months Ended For the Six Months Ended 2022 2021 2022 2021 (in millions) Accumulated (loss)/gain at beginning of period $ (96) $ (159) $ (148) $ (161) Transfer of realized losses/(gains) in fair value (96) 4 (71) 9 Unrealized (loss)/gain in fair value 104 13 131 10 Accumulated (loss)/gain at end of period $ (88) $ (142) $ (88) $ (142) After-tax gains/(losses) reclassified from accumulated other comprehensive earnings/(losses) to net earnings were: For the Three Months Ended For the Six Months Ended 2022 2021 2022 2021 (in millions) Currency exchange contracts – $ (2) $ — $ (4) $ — Interest rate contracts 98 (4) 75 (9) Total $ 96 $ (4) $ 71 $ (9) After-tax gains/(losses) recognized in other comprehensive earnings/(losses) were: For the Three Months Ended For the Six Months Ended 2022 2021 2022 2021 (in millions) Currency exchange contracts – $ 2 $ 7 $ 4 $ 6 Interest rate contracts 102 6 127 4 Total $ 104 $ 13 $ 131 $ 10 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 $10 million (net of taxes) for interest rate cash flow hedges to earnings during the next 12 months. Cash Flow Hedge Coverage: As of June 30, 2022, our longest dated cash flow hedges were interest rate swaps that hedge forecasted interest rate payments over the next 4 years, 2 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 June 30, 2022 was $7.1 billion. Net investment hedge derivative contract impacts on other comprehensive earnings and net earnings were: For the Three Months Ended For the Six Months Ended 2022 2021 2022 2021 (in millions) After-tax gain/(loss) on NIH contracts (1) $ 307 $ (36) $ 348 $ 23 (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 For the Six Months Ended 2022 2021 2022 2021 (in millions) Amounts excluded from the assessment of hedge effectiveness (1) $ 30 $ 19 $ 52 $ 40 (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 For the Six Months Ended 2022 2021 2022 2021 (in millions) Euro notes $ 142 $ (31) $ 216 $ 92 British pound sterling notes 19 (1) 27 (3) Swiss franc notes 21 (17) 27 39 Canadian notes 11 (5) 7 (9) Economic Hedges: Pre-tax gains/(losses) recorded in net earnings for economic hedges were: For the Three Months Ended For the Six Months Ended Location of Gain/(Loss) Recognized in Earnings 2022 2021 2022 2021 (in millions) Currency exchange contracts: Intercompany loans and forecasted interest payments $ 7 $ 2 $ (4) $ 72 Interest and other expense, net Forecasted transactions 114 (38) 107 12 Cost of sales Forecasted transactions (52) 14 (31) (2) Interest and other expense, net Forecasted transactions 1 (1) 3 1 Selling, general and administrative expenses Commodity contracts (40) 117 197 211 Cost of sales Equity method investment — — — — Gain on equity method investment transactions Total $ 30 $ 94 $ 272 $ 294 In the first quarter of 2022, we had early settlements of forecasted currency exchange contracts comprised of $74 million in cost of sales, $5 million in selling, general and administrative expenses and $20 million in interest and other expense, net.

Benefit Plans

Benefit Plans	6 Months Ended
	Jun. 30, 2022
Retirement Benefits [Abstract]
Benefit Plans	Note 10. Benefit Plans Pension Plans Components of Net Periodic Pension Cost: Net periodic pension cost/(benefit) consisted of the following: U.S. Plans Non-U.S. Plans For the Three Months Ended For the Three Months Ended 2022 2021 2022 2021 (in millions) Service cost $ 2 $ 2 $ 16 $ 35 Interest cost 12 10 47 30 Expected return on plan assets (18) (18) (94) (107) Amortization: Net loss from experience differences 2 5 15 33 Prior service cost/(benefit) — — — (1) Curtailment credit (1) — — — (14) Settlement losses and other expenses 4 6 — — Net periodic pension cost/(benefit) $ 2 $ 5 $ (16) $ (24) U.S. Plans Non-U.S. Plans For the Six Months Ended For the Six Months Ended 2022 2021 2022 2021 (in millions) Service cost $ 3 $ 4 $ 55 $ 70 Interest cost 23 20 88 59 Expected return on plan assets (36) (36) (186) (213) Amortization: Net loss from experience differences 5 9 33 66 Prior service cost/(benefit) — — (1) (3) Curtailment credit (1) — — — (14) Settlement losses and other expenses 7 9 — — Net periodic pension cost/(benefit) $ 2 $ 6 $ (11) $ (35) (1) During the second quarter of 2021, we made a decision to freeze our Defined Benefit Pension Scheme in the United Kingdom. As a result, we recognized a curtailment credit of $(14 million) for the three and six months ended June 30, 2021 recorded within benefit plan non-service income. We also incurred incentive payment charges and other expenses related to this decision of $44 million for the three months ended June 30, 2021 and $45 million for the six months ended June 30, 2021 included in operating income. Employer Contributions: During the six months ended June 30, 2022, we contributed $1 million to our U.S. pension plans and $102 million to our non-U.S. pension plans, including $41 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 June 30, 2022, over the remainder of 2022, we plan to make further contributions of approximately $2 million to our U.S. plans and approximately $83 million to our non-U.S. plans. Our actual contributions may be different due to many factors, including changes in tax and other benefit laws, significant differences between expected and actual pension asset performance or interest rates. Multiemployer Pension Plans: On July 11, 2019, we received an undiscounted withdrawal liability assessment related to our complete withdrawal from the Bakery and Confectionery Union and Industry International Pension Fund totaling $526 million requiring pro-rata monthly payments over 20 years. We began making monthly payments during the third quarter of 2019. In connection with the discounted long-term liability, we recorded accreted interest of $2 million and $5 million in the three and six months ended June 30, 2022 and $3 million and $6 million in the three months and six months ended June 30, 2021 within interest and other expense, net. As of June 30, 2022, the remaining discounted withdrawal liability was $352 million, with $15 million recorded in other current liabilities and $337 million recorded in long-term other liabilities. Postretirement Benefit Plans Net periodic postretirement health care cost/(benefit) consisted of the following: For the Three Months Ended For the Six Months Ended 2022 2021 2022 2021 (in millions) Service cost $ — $ 1 $ 1 $ 2 Interest cost 2 2 4 4 Amortization: Net loss from experience differences — — — 1 Prior service credit 1 — 1 — Net periodic postretirement health care cost/(benefit) $ 3 $ 3 $ 6 $ 7 Postemployment Benefit Plans Net periodic postemployment cost consisted of the following: For the Three Months Ended For the Six Months Ended 2022 2021 2022 2021 (in millions) Service cost $ 1 $ 2 $ 2 $ 3 Interest cost — — 1 1 Amortization of net gains (1) — (2) (1) Net periodic postemployment cost $ — $ 2 $ 1 $ 3

Stock Plans

Stock Plans	6 Months Ended
	Jun. 30, 2022
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, 2022 23,503,759 $42.65 5 years $ 556 million Annual grant to eligible employees 2,180,540 64.65 Additional options issued 33,250 66.99 Total options granted 2,213,790 64.69 Options exercised (1) (3,097,734) 35.75 $ 94 million Options canceled (279,021) 55.03 Balance at June 30, 2022 22,340,794 45.63 5 years $ 373 million (1) Cash received from options exercised was $31 million in the three months and $101 million in the six months ended June 30, 2022. The actual tax benefit realized and recorded in the provision for income taxes for the tax deductions from the option exercises totaled $4 million in the three months and $14 million in the six months ended June 30, 2022. Performance Share Units and Other Stock-Based Awards: Our performance share unit, deferred stock unit and historically granted restricted stock activity is reflected below: Number Grant Date Weighted-Average Fair Value Per Share (3) Weighted-Average Aggregate Fair Value (3) Balance at January 1, 2022 4,668,046 $57.04 Annual grant to eligible employees: Feb 24, 2022 Performance share units 806,590 61.87 Deferred stock units 505,090 64.65 Additional shares granted (1) 702,037 Various 60.28 Total shares granted 2,013,717 62.01 $ 125 million Vested (2) (1,710,015) 55.31 $ 95 million Forfeited (273,663) 61.01 Balance at June 30, 2022 4,698,085 59.57 (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 $(1) million in the three months and $4 million in the six months ended June 30, 2022. (3) The grant date fair value of performance share units is determined based on the Monte Carlo simulation model for the market-based total shareholder return component and the closing market price of the Company’s stock on the grant date for performance-based components. The Monte Carlo simulation model incorporates the probability of achieving the total shareholder return market condition. Compensation expense is recognized using the grant date fair values regardless of whether the market condition is achieved, so long as the requisite service has been provided. Share Repurchase Program: Between 2013 and 2017, our Board of Directors authorized the repurchase of a total of $13.7 billion of our Common Stock through December 31, 2018. On January 31, 2018, our Finance Committee, with authorization delegated from our Board of Directors, approved an increase of $6.0 billion in the share repurchase program, raising the authorization to $19.7 billion of Common Stock repurchases, and extended the program through December 31, 2020. On December 2, 2020, our Board of Directors approved an increase of $4.0 billion in the share repurchase program, raising the authorization to $23.7 billion of Common Stock repurchases, and extended the program through December 31, 2023. Repurchases under the program are determined by management and are wholly discretionary. Prior to January 1, 2022, we had repurchased approximately $20.0 billion of Common Stock pursuant to this authorization. During the six months ended June 30, 2022, we repurchased approximately 23 million shares of Common Stock at an average cost of $64.39 per share, or an aggregate cost of approximately $1.5 billion, all of which was paid during the period except for approximately $15 million settled in July 2022. All share repurchases were funded through available cash and commercial paper issuances. As of June 30, 2022, we have approximately $2.2 billion in remaining share repurchase capacity.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 12. Commitments and Contingencies Legal Proceedings: We routinely are involved in legal proceedings, claims, disputes, regulatory matters and governmental inspections or investigations arising in the ordinary course of or incidental to our business, including those noted below in this section. We record provisions in the consolidated financial statements for pending litigation when we determine that an unfavorable outcome is probable, and the amount of the loss can be reasonably estimated. For matters we have not provided for that are reasonably possible to result in an unfavorable outcome, management is unable to estimate the possible loss or range of loss or such amounts have been determined to be immaterial. At present we believe that the ultimate outcome of these proceedings, individually and in the aggregate, will not materially harm our financial position, results of operations or cash flows. However, legal proceedings and government investigations are subject to inherent uncertainties, and unfavorable rulings or other events could occur. Unfavorable resolutions could involve substantial monetary damages. In addition, in matters for which conduct remedies are sought, unfavorable resolutions could include an injunction or other order prohibiting us from selling one or more products at all or in particular ways, precluding particular business practices or requiring other remedies. An unfavorable outcome might result in a material adverse impact on our business, results of operations or financial position. On April 1, 2015, the U.S. Commodity Futures Trading Commission ("CFTC") filed a complaint against Kraft Foods Group and Mondelēz Global LLC (“Mondelēz Global”) in the U.S. District Court for the Northern District of Illinois (the "District Court"), Eastern Division (the “CFTC action”) following its investigation of activities related to the trading of December 2011 wheat futures contracts that occurred prior to the spin-off of Kraft Foods Group. The complaint alleged 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 sought 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 May 13, 2022, 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 and did not include an admission by Mondelēz Global. Several class action complaints also were filed against Kraft Foods Group and Mondelēz Global in the District Court by investors in wheat futures and options on behalf of themselves and others similarly situated. The complaints make similar allegations as those made in the CFTC action, and the plaintiffs are seeking monetary damages, interest and unjust enrichment; costs and fees; and injunctive, declaratory and other unspecified relief. In June 2015, these suits were consolidated in the United States District Court for the Northern District of Illinois as case number 15-cv-2937, Harry Ploss et al. v. Kraft Foods Group, Inc. and Mondelēz Global LLC . On January 3, 2020, the District Court granted plaintiffs' request to certify a class. It is not possible to predict the outcome of these matters; however, based on our Separation and Distribution Agreement with Kraft Foods Group dated as of September 27, 2012, we expect to bear any monetary penalties or other payments in connection with the class action. Although the CFTC action and the class action complaints involve the same alleged conduct, the resolution of the CFTC matter may not be dispositive as to the outcome of the class action. In November 2019, the European Commission informed us that it 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 took the next procedural step in its investigation and opened formal proceedings. We are cooperating with the investigation and are engaging with the European Commission as its investigation proceeds. It is not possible to predict how long the investigation will take or the ultimate outcome of this matter. Third-Party Guarantees: We enter into third-party guarantees primarily to cover long-term obligations of our vendors. As part of these transactions, we guarantee that third parties will make contractual payments or achieve performance measures. At June 30, 2022, we had no material third-party guarantees recorded on our condensed consolidated balance sheet. Tax Matters: We are a party to various tax matter proceedings incidental to our business. These proceedings are subject to inherent uncertainties, and unfavorable outcomes could subject us to additional tax liabilities and could materially adversely impact our business, results of operations or financial position.

Reclassifications from Accumula

Reclassifications from Accumulated Other Comprehensive Income	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Reclassifications from Accumulated Other Comprehensive Income	Note 13. Reclassifications from Accumulated Other Comprehensive Income The following table summarizes the changes in accumulated balances of each component of accumulated other comprehensive earnings/(losses) attributable to Mondelēz International. Amounts reclassified from accumulated other comprehensive earnings/(losses) to net earnings (net of tax) were net losses of $(82) million in the second quarter of 2022 and $25 million in the second quarter of 2021 and $(40) million in the first six months of 2022 and $59 million in the first six months of 2021. For the Three Months Ended For the Six Months Ended 2022 2021 2022 2021 (in millions) Currency Translation Adjustments: Balance at beginning of period $ (9,043) $ (8,782) $ (9,097) $ (8,655) Currency translation adjustments (339) 165 (333) 31 Tax (expense)/benefit (60) (8) (16) (10) Other comprehensive earnings/(losses) (399) 157 (349) 21 Less: other comprehensive (earnings)/loss attributable to noncontrolling interests 11 (2) 15 7 Balance at end of period (9,431) (8,627) (9,431) (8,627) Pension and Other Benefit Plans: Balance at beginning of period $ (1,286) $ (1,805) $ (1,379) $ (1,874) Net actuarial gain/(loss) arising during period 108 (1) 152 (2) Tax (expense)/benefit on net actuarial gain/(loss) (27) — (27) — Losses/(gains) reclassified into net earnings: Amortization of experience losses and prior service costs (2) 16 37 36 72 Settlement losses and other expenses (2) 4 6 7 9 Curtailment credit (2) — (14) — (14) Tax expense/(benefit) on reclassifications (3) (6) (8) (12) (17) Currency impact 72 (18) 104 23 Other comprehensive earnings/(losses) 167 2 260 71 Balance at end of period (1,119) (1,803) (1,119) (1,803) Derivative Cash Flow Hedges: Balance at beginning of period $ (96) $ (159) $ (148) $ (161) Net derivative gains/(losses) 98 16 124 9 Tax (expense)/benefit on net derivative gain/(loss) 1 (2) — (1) Losses/(gains) reclassified into net earnings: Currency exchange contracts (4) 3 — 5 — Interest rate contracts (2)(4) (99) 5 (53) 11 Tax expense/(benefit) on reclassifications (3) — (1) (23) (2) Currency impact 5 (1) 7 2 Other comprehensive earnings/(losses) 8 17 60 19 Balance at end of period (88) (142) (88) (142) Accumulated other comprehensive income Balance at beginning of period $ (10,425) $ (10,746) $ (10,624) $ (10,690) Total other comprehensive earnings/(losses) (224) 176 (29) 111 Less: other comprehensive (earnings)/loss attributable to noncontrolling interests 11 (2) 15 7 Other comprehensive earnings/(losses) attributable to Mondelēz International (213) 174 (14) 118 Balance at end of period $ (10,638) $ (10,572) $ (10,638) $ (10,572) (1) These reclassified losses are included in net periodic benefit costs disclosed in Note 10, Benefit Plans . (2) These amounts include equity method investment transactions recorded within gain on equity method investment transactions. (3) Taxes reclassified to earnings are recorded within the provision for income taxes. (4) These reclassified gains or losses are recorded within interest and other expense, net.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Note 14. Income Taxes As of the second quarter of 2022, our estimated annual effective tax rate, which excludes discrete tax impacts, was 24.4%. This rate reflected the impact of unfavorable foreign provisions under U.S. tax laws and our tax related to earnings from equity method investments (the earnings are reported separately on our statement of earnings and thus not included in earnings before income taxes), partially offset by favorable impacts from the mix of pre-tax income in various non-U.S. jurisdictions. The estimated annual effective tax rate also considers the impact of the establishment of a valuation allowance related to a deferred tax asset arising from the anticipated 2022 Ukraine loss. Our 2022 second quarter effective tax rate of 23.4% was favorably impacted by discrete net tax benefits of $2 million. The discrete net tax benefit primarily consisted of a 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 an expense from tax law changes in various jurisdictions. Our effective tax rate for the six months ended June 30, 2022 of 22.6% was favorably impacted by discrete net tax benefits of $64 million primarily driven by the Chipita acquisition. As of the second quarter of 2021, our estimated annual effective tax rate, which excluded discrete tax impacts, was 23.7%. 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 2021 second quarter effective tax rate of 45.9% was unusually high due to a $128 million tax expense incurred in connection with the KDP share sale that occurred during the second quarter (the related gain is reported separately in our statement of earnings and thus not included in earnings before income taxes). Excluding this impact, our second quarter effective tax rate was 31.1%, reflecting a discrete net tax expense of $81 million. The discrete net tax expense primarily consisted of a $95 million net tax expense from the increase of our deferred tax liabilities resulting from tax legislation enacted during the second quarter (mainly in the United Kingdom), partially offset by a $11 million net benefit from the release of liabilities for uncertain tax positions due to expirations of statutes of limitations and audit settlements in several jurisdictions. Our effective tax rate for the six months ended June 30, 2021 of 30.9% was also unusually high due to the $128 million net tax expense incurred in connection with the KDP share sale. Excluding this impact, our effective tax rate for the six months ended June 30, 2021 was 24.5%, which was unfavorably impacted by discrete net tax expense of $15 million, primarily driven by $99 million net tax expense from the increase of our deferred tax liabilities resulting from enacted tax legislation (mainly in the United Kingdom) partially offset by a $43 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.

Earnings per Share

Earnings per Share	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Earnings per Share	Note 15. Earnings per Share Basic and diluted earnings per share (“EPS”) were calculated as follows: For the Three Months Ended For the Six Months Ended 2022 2021 2022 2021 (in millions, except per share data) Net earnings $ 748 $ 1,079 $ 1,609 $ 2,047 Noncontrolling interest earnings (1) (1) (7) (8) Net earnings attributable to Mondelēz International $ 747 $ 1,078 $ 1,602 $ 2,039 Weighted-average shares for basic EPS 1,382 1,407 1,385 1,410 Plus incremental shares from assumed conversions 7 9 8 9 Weighted-average shares for diluted EPS 1,389 1,416 1,393 1,419 Basic earnings per share attributable to $ 0.54 $ 0.77 $ 1.16 $ 1.45 Diluted earnings per share attributable to $ 0.54 $ 0.76 $ 1.15 $ 1.44

Segment Reporting

Segment Reporting	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Segment Reporting	Note 16. Segment Reporting We manufacture and market primarily snack food products, including biscuits, chocolate, gum & candy and various cheese & grocery products, as well as powdered beverage products. We manage our global business and report operating results through geographic units. We manage our operations by region to leverage regional operating scale, manage different and changing business environments more effectively and pursue growth opportunities as they arise across our key markets. Our regional management teams have responsibility for the business, product categories and financial results in the regions. Our operations and management structure are organized into four operating segments: • Latin America • AMEA • Europe • North America We use segment operating income to evaluate segment performance and allocate resources. We believe it is appropriate to disclose this measure to help investors analyze segment performance and trends. Segment operating income excludes unrealized gains and losses on hedging activities (which are a component of cost of sales), general corporate expenses (which are a component of selling, general and administrative expenses), amortization of intangibles, gains and losses on divestitures and acquisition-related costs (which are a component of selling, general and administrative expenses) in all periods presented. We exclude these items from segment operating income in order to provide better transparency of our segment operating results. Furthermore, we centrally manage benefit plan non-service income and interest and other expense, net. Accordingly, we do not present these items by segment because they are excluded from the segment profitability measure that management reviews. Our segment net revenues and earnings were: For the Three Months Ended For the Six Months Ended 2022 2021 2022 2021 (in millions) Net revenues: Latin America $ 876 $ 669 $ 1,702 $ 1,338 AMEA 1,535 1,452 3,402 3,197 Europe 2,626 2,474 5,561 5,321 North America 2,237 2,047 4,373 4,024 Net revenues $ 7,274 $ 6,642 $ 15,038 $ 13,880 Earnings before income taxes: Operating income: Latin America $ 90 $ 54 $ 193 $ 130 AMEA 211 213 483 575 Europe 380 413 757 970 North America 454 299 872 569 Unrealized (losses)/gains on hedging activities (109) 20 (82) 138 General corporate expenses (62) (78) (112) (142) Amortization of intangible assets (32) (32) (64) (70) Gain on acquisition — — — 9 Acquisition-related costs (5) (17) (26) (24) Operating income 927 872 2,021 2,155 Benefit plan non-service income 30 54 63 98 Interest and other expense, net (98) (58) (266) (276) Earnings before income taxes $ 859 $ 868 $ 1,818 $ 1,977 Items impacting our segment operating results are discussed in Note 1, Basis of Presentation , Note 2, Acquisitions and Divestitures, Note 3, Inventories , Note 4, Property, Plant and Equipment, Note 5, Goodwill and Intangible Assets, and Note 7, Restructuring Program . Also see Note 8, Debt and Borrowing Arrangements , and Note 9, Financial Instruments, for more information on our interest and other expense, net for each period. Net revenues by product category were: For the Three Months Ended June 30, 2022 Latin AMEA Europe North Total (in millions) Biscuits $ 255 $ 568 $ 1,001 $ 1,901 $ 3,725 Chocolate 243 536 1,140 60 1,979 Gum & Candy 193 201 170 276 840 Beverages 92 144 24 — 260 Cheese & Grocery 93 86 291 — 470 Total net revenues $ 876 $ 1,535 $ 2,626 $ 2,237 $ 7,274 Three Months Ended June 30, 2021 (1) Latin AMEA Europe North Total (in millions) Biscuits $ 197 $ 509 $ 849 $ 1,778 $ 3,333 Chocolate 181 475 1,137 54 1,847 Gum & Candy 129 215 154 215 713 Beverages 82 146 27 — 255 Cheese & Grocery 80 107 307 — 494 Total net revenues $ 669 $ 1,452 $ 2,474 $ 2,047 $ 6,642 For the Six Months Ended June 30, 2022 Latin AMEA Europe North Total (in millions) Biscuits $ 479 $ 1,225 $ 1,952 $ 3,700 $ 7,356 Chocolate 491 1,242 2,652 137 4,522 Gum & Candy 365 404 322 536 1,627 Beverages 194 341 56 — 591 Cheese & Grocery 173 190 579 — 942 Total net revenues $ 1,702 $ 3,402 $ 5,561 $ 4,373 $ 15,038 Six Months Ended June 30, 2021 (1) Latin AMEA Europe North Total (in millions) Biscuits $ 374 $ 1,092 $ 1,659 $ 3,514 $ 6,639 Chocolate 373 1,145 2,681 117 4,316 Gum & Candy 260 409 302 393 1,364 Beverages 176 326 60 — 562 Cheese & Grocery 155 225 619 — 999 Total net revenues $ 1,338 $ 3,197 $ 5,321 $ 4,024 $ 13,880 (1) Our snack product categories include biscuits, chocolate and gum & candy. During the first quarter of 2022, we realigned some of our products between our biscuits and chocolate categories; as such, we reclassified the product category net revenues on a basis consistent with the 2022 presentation.

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation	Our interim condensed consolidated financial statements are unaudited. Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been omitted. It is management’s opinion that these financial statements include all normal and recurring adjustments necessary for a fair presentation of our results of operations, financial position and cash flows. Results of operations for any interim period are not necessarily indicative of future or annual results. For a complete set of consolidated financial statements and related notes, refer to our Annual Report on Form 10-K for the year ended December 31, 2021.
Principles of Consolidation	Principles of Consolidation: The condensed consolidated financial statements include Mondelēz International, Inc. as well as our wholly owned and majority owned subsidiaries, except our Venezuelan subsidiaries that were deconsolidated in 2015. All intercompany transactions are eliminated. The noncontrolling interest represents the noncontrolling investors' interests in the results of subsidiaries that we control and consolidate. We account for investments over which we exercise significant influence under the equity method of accounting. Investments over which we do not have significant influence or control are not material and as there are no readily determinable fair values for the equity interests, these investments are carried at cost with changes in the investment recognized to the extent cash is received.
Currency Translation and Highly Inflationary Accounting	Currency Translation and Highly Inflationary Accounting : We translate the results of operations of our subsidiaries from multiple currencies using average exchange rates during each period and translate balance sheet accounts using exchange rates at the end of each period. We record currency translation adjustments as a component of equity (except for highly inflationary currencies) and realized exchange gains and losses on currency transactions in earnings. Highly inflationary accounting is triggered when a country’s three-year cumulative inflation rate exceeds 100%. It requires the remeasurement of financial statements of subsidiaries in the country from the functional currency of the subsidiary to our U.S. dollar reporting currency. Local currency monetary assets and liabilities are remeasured into U.S. dollars using exchange rates as of the latest balance sheet date, with remeasurement gains and losses recognized in net earnings. Türkiye. During the first quarter of 2022, primarily based on data published by the Türkiye Statistical Institute that indicated that Türkiye's three-year cumulative inflation rate exceeded 100%, we concluded that Türkiye became a highly inflationary economy for accounting purposes. As of April 1, 2022, we began to apply highly inflationary accounting for our subsidiaries operating in Türkiye and change their functional currency from the Turkish lira to the U.S. dollar. Our operations in Türkiye contributed $46 million or 0.6% of our condensed consolidated net revenues in the three months and $90 million or 0.6% of our condensed consolidated net revenues in the six months ended June 30, 2022. As of June 30, 2022, our operations in Türkiye had $11 million of Turkish lira denominated net monetary liabilities. Within selling, general and administrative expenses, we recorded a remeasurement loss of less than $1 million during the three months ended June 30, 2022 related to the revaluation of the Turkish lira denominated net monetary position during the quarter. Argentina. During the second quarter of 2018, primarily based on published estimates that indicated that Argentina's three-year cumulative inflation rate exceeded 100%, we concluded that Argentina became a highly inflationary economy for accounting purposes. As of July 1, 2018, we began to apply highly inflationary accounting for our Argentinean subsidiaries and changed their functional currency from the Argentinean peso to the U.S. dollar. Our operations in Argentina contributed $138 million or 1.9% of consolidated net revenues in the three months and $268 million or 1.8% of our condensed consolidated net revenues in the six months ended June 30, 2022. As of June 30, 2022, our Argentinean operations had $28 million of Argentinean peso denominated net monetary assets. Within selling, general and administrative expenses, we recorded a remeasurement loss of $10 million during the three months and $15 million during the six months ended June 30, 2022 as well as a remeasurement loss of $3 million during the three months and $8 million during the six months ended June 30, 2021 related to the revaluation of the Argentinean peso denominated net monetary position over these periods. Other Countries. Since we sell our products in over 150 countries and have operations in approximately 80 countries, we monitor economic and currency-related risks and seek to take protective measures in response to potential exposures. We continue to monitor the developments in Ukraine and Russia as well as in the ongoing COVID-19 global pandemic and related impacts to our business operations, currencies and net monetary exposures. Since the global onset of COVID-19 in early 2020 and compounded by the ongoing war in Ukraine and the impact of general economic conditions, including inflation, most countries in which we do business experienced periods of significant economic uncertainty as well as exchange rate volatility. At this time, within our consolidated entities, Argentina and Türkiye are highly inflationary economies as noted above, and we continue to monitor currency volatility and associated risks, such as increased risk of highly inflationary economies and related accounting.
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
New Accounting Pronouncements	New Accounting Pronouncements: In October 2021, the Financial Accounting Standards Board (“FASB”) issued an Accounting Standards Update (“ASU”) which requires companies to recognize and measure customer contract assets and contract liabilities acquired in a business combination as if the acquiring company originated the related revenue contracts. Prior to adopting this ASU, acquired contract assets and liabilities were measured at fair value. This ASU is effective for fiscal years beginning after December 15, 2022 and early adoption is permitted. We are evaluating the timing and effects of adopting this ASU and currently we do not expect this ASU to have a material impact on our consolidated financial statements. In March 2020 and subsequently in January 2021, the FASB issued an ASU to provide optional accounting guidance for a limited period of time to ease the potential burden in accounting for reference rate reform. The guidance provides optional expedients and exceptions to existing accounting requirements for contract modifications and hedge accounting related to transitioning from discontinued reference rates, such as LIBOR, to alternative reference rates, if certain criteria are met. The new accounting requirements can be applied as of the beginning of the interim period including March 12, 2020, or any date thereafter, through December 31, 2022. We expect to adopt this standard in the fourth quarter of 2022. Based on our evaluation of our contracts to date, we do not expect this ASU to have a material impact on our consolidated financial statements.

Basis of Presentation (Tables)

Basis of Presentation (Tables)	6 Months Ended
	Jun. 30, 2022
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, 2022 $ (37) $ (49) $ (10) Current period provision for expected credit losses (10) (4) (5) Write-offs charged against the allowance 1 3 — Currency 1 2 (1) Balance at June 30, 2022 $ (45) $ (48) $ (16)

Acquisitions and Divestitures (

Acquisitions and Divestitures (Tables)	6 Months Ended
	Jun. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of Purchase Price Allocation of Net Tangible and Intangible Assets Acquired and Liabilities Assumed	We are working to complete the valuation and have recorded a preliminary purchase price allocation of: (in millions) Cash $ 52 Receivables 102 Inventory 60 Other current assets 3 Property, plant and equipment 383 Finance leases right of use assets 8 Definite life intangible assets 48 Indefinite life intangible assets 686 Goodwill 791 Other assets 77 Assets acquired $ 2,210 Current liabilities 133 Deferred tax liability 158 Finance lease liabilities 8 Other liabilities 21 Total purchase price $ 1,890 Less: long-term debt (436) Less: cash received (52) Net Cash Paid $ 1,402

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2022
Inventory Disclosure [Abstract]
Schedule of Components of Inventories	Inventories consisted of the following: As of June 30, As of December 31, 2021 (in millions) Raw materials $ 1,028 $ 770 Finished product 2,156 2,054 3,184 2,824 Inventory reserves (146) (116) Inventories, net $ 3,038 $ 2,708

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	6 Months Ended
	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
Schedule of Components of Property, Plant and Equipment	Property, plant and equipment consisted of the following: As of June 30, As of December 31, 2021 (in millions) Land and land improvements $ 381 $ 379 Buildings and building improvements 3,235 3,139 Machinery and equipment 11,746 11,842 Construction in progress 728 732 16,090 16,092 Accumulated depreciation (7,337) (7,434) Property, plant and equipment, net $ 8,753 $ 8,658
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 For the Six Months Ended 2022 2021 2022 2021 (in millions) Latin America $ (1) $ — $ (1) $ — AMEA — — — (16) Europe 3 3 3 4 North America 3 62 4 117 Total $ 5 $ 65 $ 6 $ 105 During the three and six months ended June 30, 2022 and June 30, 2021, and since inception of the Simplify to Grow Program, we recorded the following restructuring and implementation costs within segment operating income and earnings before income taxes: Latin AMEA Europe North Corporate Total (in millions) For the Three Months Ended June 30, 2022 Restructuring Costs $ (2) $ — $ — $ 4 $ 2 $ 4 Implementation Costs 3 3 8 9 (4) 19 Total $ 1 $ 3 $ 8 $ 13 $ (2) $ 23 For the Three Months Ended June 30, 2021 Restructuring Costs $ — $ 2 $ (1) $ 92 $ 7 $ 100 Implementation Costs 4 3 11 17 (2) 33 Total $ 4 $ 5 $ 10 $ 109 $ 5 $ 133 For the Six Months Ended June 30, 2022 Restructuring Costs $ (3) $ 2 $ 2 $ 12 $ 2 $ 15 Implementation Costs 4 4 13 16 2 39 Total $ 1 $ 6 $ 15 $ 28 $ 4 $ 54 For the Six Months Ended June 30, 2021 Restructuring Costs $ 3 $ (19) $ 5 $ 193 $ 6 $ 188 Implementation Costs 7 5 21 27 7 67 Total $ 10 $ (14) $ 26 $ 220 $ 13 $ 255 Total Project (Inception to Date) Restructuring Costs $ 551 $ 543 $ 1,149 $ 657 $ 151 $ 3,051 Implementation Costs 300 243 557 569 358 2,027 Total $ 851 $ 786 $ 1,706 $ 1,226 $ 509 $ 5,078

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill by Segment	Goodwill by segment was: As of June 30, As of December 31, 2021 (in millions) Latin America $ 698 $ 674 AMEA 3,213 3,365 Europe 8,060 7,830 North America 10,132 10,109 Goodwill $ 22,103 $ 21,978
Schedule of Intangible Assets Disclosure	Intangible assets consisted of the following: As of June 30, As of December 31, 2021 (in millions) Indefinite-life intangible assets $ 17,392 $ 17,299 Definite-life intangible assets 2,950 2,991 20,342 20,290 Accumulated amortization (2,003) (1,999) Intangible assets, net $ 18,339 $ 18,291
Schedule of Changes in Goodwill and Intangible Assets	Changes in goodwill and intangible assets consisted of: Goodwill Intangible (in millions) Balance at January 1, 2022 $ 21,978 $ 20,290 Currency (666) (604) Acquisitions 791 734 Asset impairments — (78) Balance at June 30, 2022 $ 22,103 $ 20,342

Restructuring Program (Tables)

Restructuring Program (Tables)	6 Months Ended
	Jun. 30, 2022
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Program Liability	The Simplify to Grow Program liability activity for the six months ended June 30, 2022 was: Severance Asset Total (in millions) Liability balance, January 1, 2022 $ 211 $ — $ 211 Charges 8 7 15 Cash spent (33) (33) Non-cash settlements/adjustments (2) (7) (9) Currency (10) — (10) Liability balance, June 30, 2022 $ 174 $ — $ 174
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 For the Six Months Ended 2022 2021 2022 2021 (in millions) Latin America $ (1) $ — $ (1) $ — AMEA — — — (16) Europe 3 3 3 4 North America 3 62 4 117 Total $ 5 $ 65 $ 6 $ 105 During the three and six months ended June 30, 2022 and June 30, 2021, and since inception of the Simplify to Grow Program, we recorded the following restructuring and implementation costs within segment operating income and earnings before income taxes: Latin AMEA Europe North Corporate Total (in millions) For the Three Months Ended June 30, 2022 Restructuring Costs $ (2) $ — $ — $ 4 $ 2 $ 4 Implementation Costs 3 3 8 9 (4) 19 Total $ 1 $ 3 $ 8 $ 13 $ (2) $ 23 For the Three Months Ended June 30, 2021 Restructuring Costs $ — $ 2 $ (1) $ 92 $ 7 $ 100 Implementation Costs 4 3 11 17 (2) 33 Total $ 4 $ 5 $ 10 $ 109 $ 5 $ 133 For the Six Months Ended June 30, 2022 Restructuring Costs $ (3) $ 2 $ 2 $ 12 $ 2 $ 15 Implementation Costs 4 4 13 16 2 39 Total $ 1 $ 6 $ 15 $ 28 $ 4 $ 54 For the Six Months Ended June 30, 2021 Restructuring Costs $ 3 $ (19) $ 5 $ 193 $ 6 $ 188 Implementation Costs 7 5 21 27 7 67 Total $ 10 $ (14) $ 26 $ 220 $ 13 $ 255 Total Project (Inception to Date) Restructuring Costs $ 551 $ 543 $ 1,149 $ 657 $ 151 $ 3,051 Implementation Costs 300 243 557 569 358 2,027 Total $ 851 $ 786 $ 1,706 $ 1,226 $ 509 $ 5,078

Debt and Borrowing Arrangemen_2

Debt and Borrowing Arrangements (Tables)	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Schedule of Short-Term Borrowings and Related Weighted-Average Interest Rates	Our short-term borrowings and related weighted-average interest rates consisted of: As of June 30, 2022 As of December 31, 2021 Amount Weighted- Amount Weighted- (in millions, except percentages) Commercial paper $ 535 1.9 % $ 192 0.2 % Bank loans 70 7.0 % 24 8.6 % Total short-term borrowings $ 605 $ 216
Schedule of Uncommitted and Committed Credit Lines Available	Our uncommitted credit lines and committed credit lines available as of June 30, 2022 and December 31, 2021 include: As of June 30, 2022 As of December 31, 2021 Facility Amount Borrowed Amount Facility Amount Borrowed Amount (in millions) Uncommitted credit facilities $ 1,326 $ 70 $ 1,367 $ 24 Credit facility expiry (1) : November 30, 2022 (2) 2,000 — — — February 23, 2022 — — 2,500 — February 22, 2023 2,500 — — — February 27, 2024 — — 4,500 — February 23, 2027 4,500 — — — (1) We maintain a multi-year senior unsecured revolving credit facility for general corporate purposes, including working capital needs, and to support our commercial paper program. The revolving credit agreement includes a covenant that we maintain a minimum shareholders' equity of at least $25.0 billion, excluding accumulated other comprehensive earnings/(losses), the cumulative effects of any changes in accounting principles and earnings/(losses) recognized in connection with the ongoing application of any mark-to-market accounting for pensions and other retirement plans. At June 30, 2022, we complied with this covenant as our shareholders' equity, as defined by the covenant, was $38.1 billion. The revolving credit facility also contains customary representations, covenants and events of default. There are no credit rating triggers, provisions or other financial covenants that could require us to post collateral as security. (2) On March 31, 2022, we entered into a supplemental term loan credit facility that can be utilized for general corporate purposes, including acquisitions. Under this agreement we may draw up to a total of $2.0 billion in term loans from the facility. The maturity dates of any loans drawn under this facility will be three years after the funding date of the applicable loan(s).
Schedule of Debt Redemptions	Interest Rate Redemption Date Maturity Date Amount Redeemed USD Equivalent 3.625% March 2022 February 2026 $130 $130 4.125% March 2022 May 2028 $211 $211 2.750% March 2022 April 2030 $500 $500 6.500% March 2022 November 2031 $17 $17 7.000% March 2022 August 2037 $10 $10 6.875% March 2022 February 2038 $21 $21 6.875% March 2022 January 2039 $8 $8 6.500% March 2022 February 2040 $36 $36 4.625% March 2022 May 2048 $54 $54
Schedule of Debt Repayments	On March 18, 2022, we completed a redemption of long term U.S. dollar denominated notes for the following amounts (in millions): Interest Rate Redemption Date Maturity Date Amount Redeemed USD Equivalent 0.625% March 2022 July 2022 $1,000 $1,000
Schedule of Debt Issuances	During the six months ended June 30, 2022, we issued the following notes (in millions): Issuance Date Interest Rate Maturity Date Gross Proceeds (1) Gross Proceeds USD Equivalent March 2022 2.125% March 2024 $500 $500 March 2022 2.625% March 2027 $750 $750 March 2022 3.000% March 2032 $750 $750
Schedule of Fair Value of Debt	The fair value of our short-term borrowings at June 30, 2022 and December 31, 2021 reflects current market interest rates and approximates the amounts we have recorded on our consolidated balance sheets. The fair value of our long-term debt was determined using quoted prices in active markets (Level 1 valuation data) for the publicly traded debt obligations. As of June 30, 2022 As of December 31, 2021 (in millions) Fair Value $ 17,018 $ 20,249 Carrying Value $ 19,212 $ 19,512
Schedule of Interest and Other Expense	Interest and other expense, net consisted of: For the Three Months Ended For the Six Months Ended 2022 2021 2022 2021 (in millions) Interest expense, debt $ 89 $ 90 $ 180 $ 188 Loss on debt extinguishment and — — 129 137 Other expense/(income), net 9 (32) (43) (49) Interest and other expense, net $ 98 $ 58 $ 266 $ 276

Financial Instruments (Tables)

Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Schedule of Effects of Derivative Instruments	Pre-tax gains/(losses) recorded in net earnings for economic hedges were: For the Three Months Ended For the Six Months Ended Location of Gain/(Loss) Recognized in Earnings 2022 2021 2022 2021 (in millions) Currency exchange contracts: Intercompany loans and forecasted interest payments $ 7 $ 2 $ (4) $ 72 Interest and other expense, net Forecasted transactions 114 (38) 107 12 Cost of sales Forecasted transactions (52) 14 (31) (2) Interest and other expense, net Forecasted transactions 1 (1) 3 1 Selling, general and administrative expenses Commodity contracts (40) 117 197 211 Cost of sales Equity method investment — — — — Gain on equity method investment transactions Total $ 30 $ 94 $ 272 $ 294
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 For the Six Months Ended 2022 2021 2022 2021 (in millions) Accumulated (loss)/gain at beginning of period $ (96) $ (159) $ (148) $ (161) Transfer of realized losses/(gains) in fair value (96) 4 (71) 9 Unrealized (loss)/gain in fair value 104 13 131 10 Accumulated (loss)/gain at end of period $ (88) $ (142) $ (88) $ (142)
Schedule of Effects of Derivative Instruments	After-tax gains/(losses) reclassified from accumulated other comprehensive earnings/(losses) to net earnings were: For the Three Months Ended For the Six Months Ended 2022 2021 2022 2021 (in millions) Currency exchange contracts – $ (2) $ — $ (4) $ — Interest rate contracts 98 (4) 75 (9) Total $ 96 $ (4) $ 71 $ (9) After-tax gains/(losses) recognized in other comprehensive earnings/(losses) were: For the Three Months Ended For the Six Months Ended 2022 2021 2022 2021 (in millions) Currency exchange contracts – $ 2 $ 7 $ 4 $ 6 Interest rate contracts 102 6 127 4 Total $ 104 $ 13 $ 131 $ 10
Net investment hedges
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Schedule of Hedges of Net Investments in International Operations	Net investment hedge derivative contract impacts on other comprehensive earnings and net earnings were: For the Three Months Ended For the Six Months Ended 2022 2021 2022 2021 (in millions) After-tax gain/(loss) on NIH contracts (1) $ 307 $ (36) $ 348 $ 23 (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 For the Six Months Ended 2022 2021 2022 2021 (in millions) Amounts excluded from the assessment of hedge effectiveness (1) $ 30 $ 19 $ 52 $ 40 (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 For the Six Months Ended 2022 2021 2022 2021 (in millions) Euro notes $ 142 $ (31) $ 216 $ 92 British pound sterling notes 19 (1) 27 (3) Swiss franc notes 21 (17) 27 39 Canadian notes 11 (5) 7 (9)
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 June 30, 2022 As of December 31, 2021 Asset Liability Asset Liability (in millions) Derivatives designated as accounting hedges: Currency exchange contracts $ 3 $ 7 $ — $ — Interest rate contracts 126 — 27 17 Net investment hedge derivative contracts (1) 387 21 117 45 $ 516 $ 28 $ 144 $ 62 Derivatives not designated as Currency exchange contracts $ 221 $ 150 $ 156 $ 40 Commodity contracts 306 145 387 137 Equity method investment contracts (2) — 3 — 3 $ 527 $ 298 $ 543 $ 180 Total fair value $ 1,043 $ 326 $ 687 $ 242 (1) Net investment hedge derivative contracts consist of cross-currency interest rate swaps, forward contracts and options. We also designate some of our non-U.S. dollar denominated debt to hedge a portion of our net investments in our non-U.S. operations. This debt is not reflected in the table above, but is included in long-term debt discussed in Note 8, Debt and Borrowing Arrangements . Both net investment hedge derivative contracts and non-U.S. dollar denominated debt acting as net investment hedges are also disclosed in the Derivative Volume table and the Hedges of Net Investments in International Operations section appearing later in this footnote. (2) Equity method investment contracts consist of the bifurcated embedded derivative option that was a component of the September 20, 2021 €300 million exchangeable bonds issuance. Refer to Note 6, Equity Method Investments .
Schedule of Derivative Instruments Fair Value and Measurement Inputs	The fair values (asset/(liability)) of our derivative instruments were determined using: As of June 30, 2022 Total Quoted Prices in Significant Significant (in millions) Currency exchange contracts $ 67 $ — $ 67 $ — Commodity contracts 161 109 52 — Interest rate contracts 126 — 126 — Net investment hedge contracts 366 — 366 — Equity method investment contracts (3) — (3) — Total derivatives $ 717 $ 109 $ 608 $ — As of December 31, 2021 Total Quoted Prices in Significant Significant (in millions) Currency exchange contracts $ 116 $ — $ 116 $ — Commodity contracts 251 161 90 — Interest rate contracts 10 — 10 — Net investment hedge contracts 71 — 71 — Equity method investment contracts (3) — (3) — Total derivatives $ 445 $ 161 $ 284 $ —
Schedule of Notional Values of Derivative Instruments	The notional values of our hedging instruments were: Notional Amount As of June 30, As of December 31, 2021 (in millions) Currency exchange contracts: Intercompany loans and forecasted interest payments $ 2,270 $ 1,891 Forecasted transactions 6,245 4,831 Commodity contracts 11,131 9,694 Interest rate contracts 1,850 1,850 Net investment hedges: Net investment hedge derivative contracts 7,090 3,915 Non-U.S. dollar debt designated as net investment hedges Euro notes 3,339 3,622 British pound sterling notes 321 356 Swiss franc notes 775 811 Canadian dollar notes 466 475

Benefit Plans (Tables)

Benefit Plans (Tables)	6 Months Ended
	Jun. 30, 2022
Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Schedule of Components of Net Benefit Costs/(Credits)	Net periodic pension cost/(benefit) consisted of the following: U.S. Plans Non-U.S. Plans For the Three Months Ended For the Three Months Ended 2022 2021 2022 2021 (in millions) Service cost $ 2 $ 2 $ 16 $ 35 Interest cost 12 10 47 30 Expected return on plan assets (18) (18) (94) (107) Amortization: Net loss from experience differences 2 5 15 33 Prior service cost/(benefit) — — — (1) Curtailment credit (1) — — — (14) Settlement losses and other expenses 4 6 — — Net periodic pension cost/(benefit) $ 2 $ 5 $ (16) $ (24) U.S. Plans Non-U.S. Plans For the Six Months Ended For the Six Months Ended 2022 2021 2022 2021 (in millions) Service cost $ 3 $ 4 $ 55 $ 70 Interest cost 23 20 88 59 Expected return on plan assets (36) (36) (186) (213) Amortization: Net loss from experience differences 5 9 33 66 Prior service cost/(benefit) — — (1) (3) Curtailment credit (1) — — — (14) Settlement losses and other expenses 7 9 — — Net periodic pension cost/(benefit) $ 2 $ 6 $ (11) $ (35) (1) During the second quarter of 2021, we made a decision to freeze our Defined Benefit Pension Scheme in the United Kingdom. As a result, we recognized a curtailment credit of $(14 million) for the three and six months ended June 30, 2021 recorded within benefit plan non-service income. We also incurred incentive payment charges and other expenses related to this decision of $44 million for the three months ended June 30, 2021 and $45 million for the six months ended June 30, 2021 included in operating income.
Postretirement Benefit Plans
Defined Benefit Plan Disclosure [Line Items]
Schedule of Components of Net Benefit Costs/(Credits)	Net periodic postretirement health care cost/(benefit) consisted of the following: For the Three Months Ended For the Six Months Ended 2022 2021 2022 2021 (in millions) Service cost $ — $ 1 $ 1 $ 2 Interest cost 2 2 4 4 Amortization: Net loss from experience differences — — — 1 Prior service credit 1 — 1 — Net periodic postretirement health care cost/(benefit) $ 3 $ 3 $ 6 $ 7
Postemployment Benefit Plans
Defined Benefit Plan Disclosure [Line Items]
Schedule of Components of Net Benefit Costs/(Credits)	Net periodic postemployment cost consisted of the following: For the Three Months Ended For the Six Months Ended 2022 2021 2022 2021 (in millions) Service cost $ 1 $ 2 $ 2 $ 3 Interest cost — — 1 1 Amortization of net gains (1) — (2) (1) Net periodic postemployment cost $ — $ 2 $ 1 $ 3

Stock Plans (Tables)

Stock Plans (Tables)	6 Months Ended
	Jun. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of Stock Options Activity	Stock option activity is reflected below: Shares Subject Weighted- Average Aggregate Balance at January 1, 2022 23,503,759 $42.65 5 years $ 556 million Annual grant to eligible employees 2,180,540 64.65 Additional options issued 33,250 66.99 Total options granted 2,213,790 64.69 Options exercised (1) (3,097,734) 35.75 $ 94 million Options canceled (279,021) 55.03 Balance at June 30, 2022 22,340,794 45.63 5 years $ 373 million (1) Cash received from options exercised was $31 million in the three months and $101 million in the six months ended June 30, 2022. The actual tax benefit realized and recorded in the provision for income taxes for the tax deductions from the option exercises totaled $4 million in the three months and $14 million in the six months ended June 30, 2022.
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, 2022 4,668,046 $57.04 Annual grant to eligible employees: Feb 24, 2022 Performance share units 806,590 61.87 Deferred stock units 505,090 64.65 Additional shares granted (1) 702,037 Various 60.28 Total shares granted 2,013,717 62.01 $ 125 million Vested (2) (1,710,015) 55.31 $ 95 million Forfeited (273,663) 61.01 Balance at June 30, 2022 4,698,085 59.57 (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 $(1) million in the three months and $4 million in the six months ended June 30, 2022.

Reclassifications from Accumu_2

Reclassifications from Accumulated Other Comprehensive Income (Tables)	6 Months Ended
	Jun. 30, 2022
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 $(82) million in the second quarter of 2022 and $25 million in the second quarter of 2021 and $(40) million in the first six months of 2022 and $59 million in the first six months of 2021. For the Three Months Ended For the Six Months Ended 2022 2021 2022 2021 (in millions) Currency Translation Adjustments: Balance at beginning of period $ (9,043) $ (8,782) $ (9,097) $ (8,655) Currency translation adjustments (339) 165 (333) 31 Tax (expense)/benefit (60) (8) (16) (10) Other comprehensive earnings/(losses) (399) 157 (349) 21 Less: other comprehensive (earnings)/loss attributable to noncontrolling interests 11 (2) 15 7 Balance at end of period (9,431) (8,627) (9,431) (8,627) Pension and Other Benefit Plans: Balance at beginning of period $ (1,286) $ (1,805) $ (1,379) $ (1,874) Net actuarial gain/(loss) arising during period 108 (1) 152 (2) Tax (expense)/benefit on net actuarial gain/(loss) (27) — (27) — Losses/(gains) reclassified into net earnings: Amortization of experience losses and prior service costs (2) 16 37 36 72 Settlement losses and other expenses (2) 4 6 7 9 Curtailment credit (2) — (14) — (14) Tax expense/(benefit) on reclassifications (3) (6) (8) (12) (17) Currency impact 72 (18) 104 23 Other comprehensive earnings/(losses) 167 2 260 71 Balance at end of period (1,119) (1,803) (1,119) (1,803) Derivative Cash Flow Hedges: Balance at beginning of period $ (96) $ (159) $ (148) $ (161) Net derivative gains/(losses) 98 16 124 9 Tax (expense)/benefit on net derivative gain/(loss) 1 (2) — (1) Losses/(gains) reclassified into net earnings: Currency exchange contracts (4) 3 — 5 — Interest rate contracts (2)(4) (99) 5 (53) 11 Tax expense/(benefit) on reclassifications (3) — (1) (23) (2) Currency impact 5 (1) 7 2 Other comprehensive earnings/(losses) 8 17 60 19 Balance at end of period (88) (142) (88) (142) Accumulated other comprehensive income Balance at beginning of period $ (10,425) $ (10,746) $ (10,624) $ (10,690) Total other comprehensive earnings/(losses) (224) 176 (29) 111 Less: other comprehensive (earnings)/loss attributable to noncontrolling interests 11 (2) 15 7 Other comprehensive earnings/(losses) attributable to Mondelēz International (213) 174 (14) 118 Balance at end of period $ (10,638) $ (10,572) $ (10,638) $ (10,572) (1) These reclassified losses are included in net periodic benefit costs disclosed in Note 10, Benefit Plans . (2) These amounts include equity method investment transactions recorded within gain on equity method investment transactions. (3) Taxes reclassified to earnings are recorded within the provision for income taxes. (4) These reclassified gains or losses are recorded within interest and other expense, net.

Earnings per Share (Tables)

Earnings per Share (Tables)	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Schedule of Calculation of Basic and Diluted Earnings Per Share	Basic and diluted earnings per share (“EPS”) were calculated as follows: For the Three Months Ended For the Six Months Ended 2022 2021 2022 2021 (in millions, except per share data) Net earnings $ 748 $ 1,079 $ 1,609 $ 2,047 Noncontrolling interest earnings (1) (1) (7) (8) Net earnings attributable to Mondelēz International $ 747 $ 1,078 $ 1,602 $ 2,039 Weighted-average shares for basic EPS 1,382 1,407 1,385 1,410 Plus incremental shares from assumed conversions 7 9 8 9 Weighted-average shares for diluted EPS 1,389 1,416 1,393 1,419 Basic earnings per share attributable to $ 0.54 $ 0.77 $ 1.16 $ 1.45 Diluted earnings per share attributable to $ 0.54 $ 0.76 $ 1.15 $ 1.44

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Schedule of Segment Net Revenues and Earnings	Our segment net revenues and earnings were: For the Three Months Ended For the Six Months Ended 2022 2021 2022 2021 (in millions) Net revenues: Latin America $ 876 $ 669 $ 1,702 $ 1,338 AMEA 1,535 1,452 3,402 3,197 Europe 2,626 2,474 5,561 5,321 North America 2,237 2,047 4,373 4,024 Net revenues $ 7,274 $ 6,642 $ 15,038 $ 13,880 Earnings before income taxes: Operating income: Latin America $ 90 $ 54 $ 193 $ 130 AMEA 211 213 483 575 Europe 380 413 757 970 North America 454 299 872 569 Unrealized (losses)/gains on hedging activities (109) 20 (82) 138 General corporate expenses (62) (78) (112) (142) Amortization of intangible assets (32) (32) (64) (70) Gain on acquisition — — — 9 Acquisition-related costs (5) (17) (26) (24) Operating income 927 872 2,021 2,155 Benefit plan non-service income 30 54 63 98 Interest and other expense, net (98) (58) (266) (276) Earnings before income taxes $ 859 $ 868 $ 1,818 $ 1,977
Schedule of Net Revenues by Product Category	Net revenues by product category were: For the Three Months Ended June 30, 2022 Latin AMEA Europe North Total (in millions) Biscuits $ 255 $ 568 $ 1,001 $ 1,901 $ 3,725 Chocolate 243 536 1,140 60 1,979 Gum & Candy 193 201 170 276 840 Beverages 92 144 24 — 260 Cheese & Grocery 93 86 291 — 470 Total net revenues $ 876 $ 1,535 $ 2,626 $ 2,237 $ 7,274 Three Months Ended June 30, 2021 (1) Latin AMEA Europe North Total (in millions) Biscuits $ 197 $ 509 $ 849 $ 1,778 $ 3,333 Chocolate 181 475 1,137 54 1,847 Gum & Candy 129 215 154 215 713 Beverages 82 146 27 — 255 Cheese & Grocery 80 107 307 — 494 Total net revenues $ 669 $ 1,452 $ 2,474 $ 2,047 $ 6,642 For the Six Months Ended June 30, 2022 Latin AMEA Europe North Total (in millions) Biscuits $ 479 $ 1,225 $ 1,952 $ 3,700 $ 7,356 Chocolate 491 1,242 2,652 137 4,522 Gum & Candy 365 404 322 536 1,627 Beverages 194 341 56 — 591 Cheese & Grocery 173 190 579 — 942 Total net revenues $ 1,702 $ 3,402 $ 5,561 $ 4,373 $ 15,038 Six Months Ended June 30, 2021 (1) Latin AMEA Europe North Total (in millions) Biscuits $ 374 $ 1,092 $ 1,659 $ 3,514 $ 6,639 Chocolate 373 1,145 2,681 117 4,316 Gum & Candy 260 409 302 393 1,364 Beverages 176 326 60 — 562 Cheese & Grocery 155 225 619 — 999 Total net revenues $ 1,338 $ 3,197 $ 5,321 $ 4,024 $ 13,880

Basis of Presentation - Narrati

Basis of Presentation - Narrative (Details) $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2022 USD ($) country	Mar. 31, 2022 USD ($) facility	Jun. 30, 2021 USD ($)		Jun. 30, 2022 USD ($) country	Jun. 30, 2021 USD ($)		Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Summary of Significant Accounting Policies [Line Items]
Asset impairments and accelerated depreciation					$ 163	$ 152
Inventory valuation reserves and write-offs	$ 146				146			$ 116
Net revenues	$ 7,274		$ 6,642	[1]	$ 15,038	13,880	[1]
Number of countries in which products are sold (more than) | country	150				150
Number of countries in which entity operates (more than) | country	80				80
Restricted cash	$ 11				$ 11			7
Cash, cash equivalents and restricted cash	1,935		1,969		1,935	1,969		3,553	$ 3,650
Outstanding principal amount of receivables sold under factoring arrangement	700				700			$ 761
Operating lease right-of-use assets obtained in exchange for lease obligations					125	115
Finance lease right-of-use assets in exchange for lease obligations					76	44
Military Invasion of Ukraine
Summary of Significant Accounting Policies [Line Items]
Number of manufacturing facilities damaged | facility		2
Incremental costs due to war in Ukraine, before tax		$ 143
Incremental costs due to war in Ukraine, after tax		145
Property, plant and equipment impairment charges		75
Inventory valuation reserves and write-offs		33
Trade receivable reversal and inventory recoveries	15
Trade receivable, allowance for credit loss, period increase (decrease)		19
Accrued expense		16
Cost of sales | Military Invasion of Ukraine
Summary of Significant Accounting Policies [Line Items]
Incremental costs due to war in Ukraine, before tax		44
Restructuring, Settlement and Impairment Provisions | Military Invasion of Ukraine
Summary of Significant Accounting Policies [Line Items]
Incremental costs due to war in Ukraine, before tax		75
General and Administrative Expense | Military Invasion of Ukraine
Summary of Significant Accounting Policies [Line Items]
Incremental costs due to war in Ukraine, before tax		$ 24
Turkey
Summary of Significant Accounting Policies [Line Items]
Net revenues	$ 90				$ 46
Percentage of consolidated net revenues	0.60%				0.60%
Net monetary assets (liabilities)	$ 11				$ 11
Turkey | Selling, general and administrative expenses
Summary of Significant Accounting Policies [Line Items]
Remeasurement gain (loss) due to inflationary accounting (less than $1 million related to the revaluation of a Turkish lira denominated net monetary position during the three months ended June 30, 2022)	(1)
Argentina
Summary of Significant Accounting Policies [Line Items]
Net revenues	$ 268				$ 138
Percentage of consolidated net revenues	1.80%				1.90%
Net monetary assets (liabilities)	$ 28				$ 28
Argentina | Selling, general and administrative expenses
Summary of Significant Accounting Policies [Line Items]
Remeasurement gain (loss) due to inflationary accounting (less than $1 million related to the revaluation of a Turkish lira denominated net monetary position during the three months ended June 30, 2022)	$ (10)		$ (3)		$ (15)	$ (8)
[1]Our snack product categories include biscuits, chocolate and gum & candy. During the first quarter of 2022, we realigned some of our products between our biscuits and chocolate categories; as such, we reclassified the product category net revenues on a basis consistent with the 2022 presentation.

Basis of Presentation - Changes

Basis of Presentation - Changes in Allowances for Credit Losses (Details) $ in Millions	6 Months Ended
	Jun. 30, 2022 USD ($)
Allowance for Trade Receivables
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at January 1, 2022	$ (37)
Current period provision for expected credit losses	(10)
Write-offs charged against the allowance	1
Currency	1
Balance at June 30, 2022	(45)
Allowance for Other Current Receivables
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at January 1, 2022	(49)
Current period provision for expected credit losses	(4)
Write-offs charged against the allowance	3
Currency	2
Balance at June 30, 2022	(48)
Allowance for Long-Term Receivables
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at January 1, 2022	(10)
Current period provision for expected credit losses	(5)
Write-offs charged against the allowance	0
Currency	(1)
Balance at June 30, 2022	$ (16)

Acquisitions and Divestitures -

Acquisitions and Divestitures - Narrative (Details) £ in Millions, $ in Millions, $ in Millions, € in Billions												3 Months Ended		6 Months Ended
	Jun. 20, 2022 USD ($)	Apr. 24, 2022 USD ($)	Jan. 03, 2022 USD ($)	Jan. 03, 2022 EUR (€)	Nov. 01, 2021 USD ($)	Nov. 01, 2021 AUD ($)	Apr. 01, 2021 USD ($)	Apr. 01, 2021 AUD ($)	Mar. 25, 2021 USD ($)	Mar. 25, 2021 GBP (£)	Jan. 04, 2021 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
Business Acquisition [Line Items]
Acquisition-related costs												$ 5	$ 17	$ 26	$ 24
Goodwill												22,103		22,103		$ 21,978
Net Cash Paid														1,402	833
Pre-tax gain to step up investment to fair value and consolidate the company												0	0	0	9
Disposal Group, Disposed of by Sale, Not Discontinued Operations | MaxFoods Pty Ltd.
Business Acquisition [Line Items]
Proceeds from divestiture of businesses, net of cash divested					$ 41	$ 57
Clif Bar
Business Acquisition [Line Items]
Business combination price of acquisition expected	$ 2,900
Acquisition-related costs												4
Clif Bar | Minimum
Business Acquisition [Line Items]
Contingent consideration arrangement, additional consideration to be paid, low value	0
Clif Bar | Maximum
Business Acquisition [Line Items]
Contingent consideration arrangement, additional consideration to be paid, high value	$ 2,400
Ricolino
Business Acquisition [Line Items]
Business combination price of acquisition expected		$ 1,300
Acquisition-related costs												1
Chipita, S.A.
Business Acquisition [Line Items]
Acquisition-related costs													6	21	6
Closing cash consideration			$ 1,400	€ 1.2
Liabilities assumed			436	0.4
Purchase price			1,800	€ 1.7
Incremental net revenues from acquisition												180		332
Incremental operating income (loss) from acquisition												10		14
Acquisition integration costs												$ 36		71
Definite life intangible assets			48
Goodwill			791
Property, plant and equipment			383
Inventory acquired			60
Accounts receivables			102
Other assets			77
Other current assets acquired			3
Current liabilities assumed			133
Net Cash Paid			1,402
Deferred tax liabilities assumed			158
Long-term other liabilities			21
Chipita, S.A. | Trade Names
Business Acquisition [Line Items]
Indefinite life intangible assets			$ 686
Gourmet Food
Business Acquisition [Line Items]
Acquisition-related costs													6		7
Closing cash consideration							$ 343	$ 450
Indefinite life intangible assets							41
Incremental net revenues from acquisition														14
Incremental operating income (loss) from acquisition														1
Definite life intangible assets							80
Goodwill							164
Property, plant and equipment							19
Inventory acquired							18
Accounts receivables							25
Other assets							12
Operating lease, right-of-use asset acquired							5
Other current assets acquired							3
Current liabilities assumed							19
Noncurrent operating lease liability assumed							$ 5
Grenade
Business Acquisition [Line Items]
Acquisition-related costs															2
Indefinite life intangible assets									$ 82
Incremental net revenues from acquisition														21
Incremental operating income (loss) from acquisition														$ 2
Definite life intangible assets									28
Goodwill									181
Property, plant and equipment									1
Inventory acquired									11
Accounts receivables									18
Current liabilities assumed									25
Net Cash Paid									261	£ 188
Deferred tax liabilities assumed									20
Long-term other liabilities									$ 15
Hu
Business Acquisition [Line Items]
Acquisition-related costs													$ 5		$ 9
Indefinite life intangible assets											$ 123
Definite life intangible assets											51
Goodwill											202
Property, plant and equipment											1
Inventory acquired											2
Accounts receivables											4
Current liabilities assumed											5
Net Cash Paid											229
Long-term other liabilities											$ 132
Percentage of interest acquired											93%
Fair value of contingent consideration obligation											$ 132
Pre-tax gain to step up investment to fair value and consolidate the company											9
After-tax gain to step up investment to fair value and consolidate the company											7
Amount of equity in the acquiree held by the acquirer immediately before the acquisition date in a business combination											$ 8
Percentage of equity in the acquiree held by the acquirer immediately before the acquisition date in a business combination											7%

Acquisitions and Divestitures_2

Acquisitions and Divestitures - Purchase Price Allocation of Net Tangible and Intangible Assets Acquired and Liabilities Assumed (Details) $ in Millions, € in Billions			6 Months Ended
	Jan. 03, 2022 USD ($)	Jan. 03, 2022 EUR (€)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
Business Acquisition [Line Items]
Goodwill			$ 22,103		$ 21,978
Net Cash Paid			$ 1,402	$ 833
Chipita, S.A.
Business Acquisition [Line Items]
Cash	$ 52
Receivables	102
Inventory	60
Other current assets	3
Property, plant and equipment	383
Finance leases right of use assets	8
Definite life intangible assets	48
Goodwill	791
Other assets	77
Assets acquired	2,210
Current liabilities	133
Deferred tax liability	158
Finance lease liabilities	8
Other liabilities	21
Total purchase price	1,890
Less: long-term debt	(436)	€ (0.4)
Less: cash received	(52)
Net Cash Paid	1,402
Chipita, S.A. | Trade Names
Business Acquisition [Line Items]
Indefinite life intangible assets	$ 686

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 1,028	$ 770
Finished product	2,156	2,054
Inventories, gross	3,184	2,824
Inventory reserves	(146)	(116)
Inventories, net	$ 3,038	$ 2,708

Property, Plant and Equipment_2

Property, Plant and Equipment (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 16,090	$ 16,092
Accumulated depreciation	(7,337)	(7,434)
Property, plant and equipment, net	8,753	8,658
Land and land improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	381	379
Buildings and building improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	3,235	3,139
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	11,746	11,842
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 728	$ 732

Property, Plant and Equipment -

Property, Plant and Equipment - Narrative (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Property, Plant and Equipment [Abstract]
Capital expenditures	$ 385	$ 410
Accrued capital expenditures unpaid	239	236
Payments for capital expenditures accrued in the prior year	$ 249	$ 275

Property, Plant and Equipment_3

Property, Plant and Equipment - Asset Impairment and Exit Costs (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Total			$ 163	$ 152
Simplify to Grow Program
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Total	$ 5	$ 65	6	105
Simplify to Grow Program | Latin America
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Total	(1)	0	(1)	0
Simplify to Grow Program | AMEA
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Total	0	0	0	(16)
Simplify to Grow Program | Europe
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Total	3	3	3	4
Simplify to Grow Program | North America
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Total	$ 3	$ 62	$ 4	$ 117

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Goodwill by Segment (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Goodwill	$ 22,103	$ 21,978
Latin America
Segment Reporting Information [Line Items]
Goodwill	698	674
AMEA
Segment Reporting Information [Line Items]
Goodwill	3,213	3,365
Europe
Segment Reporting Information [Line Items]
Goodwill	8,060	7,830
North America
Segment Reporting Information [Line Items]
Goodwill	$ 10,132	$ 10,109

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Indefinite-life intangible assets	$ 17,392	$ 17,299
Definite-life intangible assets	2,950	2,991
Total intangible assets, gross	20,342	20,290
Accumulated amortization	(2,003)	(1,999)
Intangible assets, net	$ 18,339	$ 18,291

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Narrative (Details) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2022 USD ($) brand	Mar. 31, 2022 brand	Jun. 30, 2021 USD ($) brand	Jun. 30, 2022 USD ($) brand	Jun. 30, 2021 USD ($)	Jul. 01, 2021 brand
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense for intangible assets	$ 32		$ 32	$ 64	$ 70
Estimated amortization expense of intangibles in 2022	125			125
Estimated amortization expense of intangibles in 2023	125			125
Estimated amortization expense of intangibles in 2024	125			125
Estimated amortization expense of intangibles in 2025	105			105
Estimated amortization expense of intangibles in 2026	$ 65			65
Goodwill and Intangible Assets Disclosure [Line Items]
Goodwill acquired				791
Intangibles acquired				734
Impairment of intangible assets			$ 32	$ 78
Brands
Goodwill and Intangible Assets Disclosure [Line Items]
Number of impaired brands | brand		1	1
Number of brands with fair value in excess of book value of 10% or less | brand	8			8		8
Book value of brands with fair value in excess of book value of 10% or less	$ 987			$ 987
Chipita, S.A.
Goodwill and Intangible Assets Disclosure [Line Items]
Goodwill acquired				791
Intangibles acquired				$ 734

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Changes in Goodwill and Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2022
Goodwill
Balance at January 1, 2022		$ 21,978
Currency		(666)
Acquisitions		791
Asset impairments		0
Balance at March 31, 2022		22,103
Intangible Assets, at cost
Balance at January 1, 2022		20,290
Currency		(604)
Acquisitions		734
Asset impairments	$ (32)	(78)
Balance at June 30, 2022		$ 20,342

Equity Method Investments (Deta

Equity Method Investments (Details) € / shares in Units, shares in Millions, $ in Millions			3 Months Ended			6 Months Ended
	May 08, 2022 shares	Jun. 07, 2021 USD ($) shares	Jun. 30, 2022 USD ($)	Jun. 30, 2022 EUR (€)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) shares	Jun. 30, 2021 USD ($)	Jun. 30, 2022 EUR (€)	Dec. 31, 2021 USD ($)	Sep. 20, 2021 EUR (€) € / shares
Schedule of Equity Method Investments [Line Items]
Equity method investments			$ 4,655			$ 4,655			$ 5,289
Equity method investment net earnings			98		$ 107	215	$ 185
Cash dividends received from equity method investments			$ 14		$ 20	$ 121	$ 94
0.000% Notes Due September 2024 | Exchangeable Notes
Schedule of Equity Method Investments [Line Items]
Debt issued | €								€ 300,000,000		€ 300,000,000
Exchange price (in EUR per share) | € / shares										€ 35.40
Debt convertible into equity interest, shares issuable (in shares) | shares						8.5
Debt convertible into equity interest, percentage						0.09
JDEP
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage			19.80%			19.80%		19.80%
Number of shares of equity method investment sold (in shares) | shares	18.6
Equity method investment, decrease in ownership percentage	(3.00%)
Proceeds from equity method investment transaction			$ 529	€ 500,000,000
Pre-tax gain (loss) on sale of equity method investment			$ (8)	€ (8,000,000)
KDP
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage			5.30%			5.30%		5.30%
Number of shares of equity method investment sold (in shares) | shares		28
Equity method investment, decrease in ownership percentage		2%
Proceeds from equity method investment transaction		$ 997
Pre-tax gain (loss) on sale of equity method investment		520
After-tax gain (loss) on sale of equity method investment		$ 392
Dong Suh Foods Corporation
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage			50%			50%		50%
Dong Suh Oil & Fats Co. Ltd.
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage			49%			49%		49%
JDEP and KDP
Schedule of Equity Method Investments [Line Items]
Fair value of ownership of equity method investment			$ 5,400			$ 5,400

Restructuring Program - Narrati

Restructuring Program - Narrative (Details) - USD ($) $ in Millions				3 Months Ended		6 Months Ended		98 Months Ended
	Sep. 06, 2018	Aug. 31, 2016	May 06, 2014	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Dec. 31, 2021
2014-2018 Restructuring Program
Restructuring Cost and Reserve [Line Items]
Approved restructuring program cost		$ 5,700	$ 3,500
Reallocation of previously approved capital expenditures to be spent on restructuring program cash costs		600
2014-2018 Restructuring Program | Maximum
Restructuring Cost and Reserve [Line Items]
Approved capital expenditures		1,600	$ 2,200
2014-2018 Restructuring Program | Restructuring Program Charges
Restructuring Cost and Reserve [Line Items]
Approved restructuring program cost		4,100
2014-2018 Restructuring Program | Cash Costs
Restructuring Cost and Reserve [Line Items]
Approved restructuring program cost		3,100
2014-2018 Restructuring Program | Non-cash Costs
Restructuring Cost and Reserve [Line Items]
Approved restructuring program cost		$ 1,000
Simplify to Grow Program
Restructuring Cost and Reserve [Line Items]
Approved restructuring program cost	$ 7,700
Restructuring and implementation charges				$ 23	$ 133	$ 54	$ 255	$ 5,078
Restructuring charges				4	100	15	188	3,051
Cash spent in restructuring						33
Non-cash asset write-downs				7		9	116
Gain on sale of property					76
Restructuring reserve				174		174		174	$ 211
Implementation costs				19	33	39	67	2,027
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				119		119		119
Simplify to Grow Program | Other liabilities
Restructuring Cost and Reserve [Line Items]
Restructuring reserve				55		55		55
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						8
Cash spent in restructuring				16	$ 30	33	$ 64
Non-cash asset write-downs						2
Restructuring reserve				$ 174		$ 174		$ 174	$ 211

Restructuring Program - Restruc

Restructuring Program - Restructuring Liability Activity (Details) - Simplify to Grow Program - USD ($) $ in Millions	3 Months Ended		6 Months Ended		98 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022
Restructuring Reserve [Roll Forward]
Liability balance, January 1, 2022			$ 211
Charges	$ 4	$ 100	15	$ 188	$ 3,051
Cash spent			(33)
Non-cash settlements/adjustments	(7)		(9)	(116)
Currency			(10)
Liability balance, June 30, 2022	174		174		174
Severance and related costs
Restructuring Reserve [Roll Forward]
Liability balance, January 1, 2022			211
Charges			8
Cash spent	(16)	$ (30)	(33)	$ (64)
Non-cash settlements/adjustments			(2)
Currency			(10)
Liability balance, June 30, 2022	174		174		174
Asset Write-downs
Restructuring Reserve [Roll Forward]
Liability balance, January 1, 2022			0
Charges			7
Cash spent
Non-cash settlements/adjustments			(7)
Currency			0
Liability balance, June 30, 2022	$ 0		$ 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		6 Months Ended		98 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022
Restructuring Cost and Reserve [Line Items]
Restructuring Costs	$ 4	$ 100	$ 15	$ 188	$ 3,051
Implementation Costs	19	33	39	67	2,027
Total	23	133	54	255	5,078
Operating Segments | Latin America
Restructuring Cost and Reserve [Line Items]
Restructuring Costs	(2)	0	(3)	3	551
Implementation Costs	3	4	4	7	300
Total	1	4	1	10	851
Operating Segments | AMEA
Restructuring Cost and Reserve [Line Items]
Restructuring Costs	0	2	2	(19)	543
Implementation Costs	3	3	4	5	243
Total	3	5	6	(14)	786
Operating Segments | Europe
Restructuring Cost and Reserve [Line Items]
Restructuring Costs	0	(1)	2	5	1,149
Implementation Costs	8	11	13	21	557
Total	8	10	15	26	1,706
Operating Segments | North America
Restructuring Cost and Reserve [Line Items]
Restructuring Costs	4	92	12	193	657
Implementation Costs	9	17	16	27	569
Total	13	109	28	220	1,226
Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring Costs	2	7	2	6	151
Implementation Costs	(4)	(2)	2	7	358
Total	$ (2)	$ 5	$ 4	$ 13	$ 509

Debt and Borrowing Arrangemen_3

Debt and Borrowing Arrangements - Short-Term Borrowings and Related Weighted-Average Interest Rates (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Short-term Debt [Line Items]
Amount Outstanding	$ 605	$ 216
Commercial paper
Short-term Debt [Line Items]
Amount Outstanding	$ 535	$ 192
Weighted-Average Rate	1.90%	0.20%
Bank loans
Short-term Debt [Line Items]
Amount Outstanding	$ 70	$ 24
Weighted-Average Rate	7%	8.60%

Debt and Borrowing Arrangemen_4

Debt and Borrowing Arrangements - Uncommitted and Committed Credit Lines Available (Details) - USD ($)		6 Months Ended
		Jun. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Amount Outstanding		$ 605,000,000	$ 216,000,000
Bank loans
Debt Instrument [Line Items]
Debt instrument, term		3 years
Bank loans | Credit Facility Expiring February 27, 2024
Debt Instrument [Line Items]
Facility Amount	[1]	$ 0	4,500,000,000
Borrowed Amount	[1]	0	0
Bank loans | Credit Facility Expiring February 23, 2027
Debt Instrument [Line Items]
Facility Amount	[1]	4,500,000,000	0
Borrowed Amount	[1]	0	0
Bank loans | 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)		38,100,000,000
Bank loans | 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)		25,000,000,000
Bank loans
Debt Instrument [Line Items]
Amount Outstanding		70,000,000	24,000,000
Bank loans | Uncommitted credit facilities
Debt Instrument [Line Items]
Facility Amount		1,326,000,000	1,367,000,000
Amount Outstanding		70,000,000	24,000,000
Bank loans | Credit Facility Expiring November 30, 2022
Debt Instrument [Line Items]
Facility Amount	[1],[2]	2,000,000,000	0
Amount Outstanding	[1],[2]	0	0
Bank loans | Credit Facility Expiring February 23, 2022
Debt Instrument [Line Items]
Facility Amount	[1]	0	2,500,000,000
Amount Outstanding	[1]	0	0
Bank loans | Credit Facility Expiring February 22, 2023
Debt Instrument [Line Items]
Facility Amount	[1]	2,500,000,000	0
Amount Outstanding	[1]	$ 0	$ 0
[1]We maintain a multi-year senior unsecured revolving credit facility for general corporate purposes, including working capital needs, and to support our commercial paper program. The revolving credit agreement includes a covenant that we maintain a minimum shareholders' equity of at least $25.0 billion, excluding accumulated other comprehensive earnings/(losses), the cumulative effects of any changes in accounting principles and earnings/(losses) recognized in connection with the ongoing application of any mark-to-market accounting for pensions and other retirement plans. At June 30, 2022, we complied with this covenant as our shareholders' equity, as defined by the covenant, was $38.1 billion. The revolving credit facility also contains customary representations, covenants and events of default. There are no credit rating triggers, provisions or other financial covenants that could require us to post collateral as security.[2]On March 31, 2022, we entered into a supplemental term loan credit facility that can be utilized for general corporate purposes, including acquisitions. Under this agreement we may draw up to a total of $2.0 billion in term loans from the facility. The maturity dates of any loans drawn under this facility will be three years after the funding date of the applicable loan(s).

Debt and Borrowing Arrangemen_5

Debt and Borrowing Arrangements - Narrative (Details) € in Billions		3 Months Ended		6 Months Ended
	Jul. 11, 2022 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2022 EUR (€)	Jun. 30, 2021 USD ($)
Debt Instrument [Line Items]
Loss on debt extinguishment and related expenses		$ 0	$ 0	$ (129,000,000)		$ (137,000,000)
Loss on extinguishment of debt				(38,000,000)		$ (110,000,000)
Derivative, loss on derivative				$ (91,000,000)
Bank loans
Debt Instrument [Line Items]
Debt instrument, term				3 years	3 years
Business Combination, Debt Assumed | Chipita, S.A.
Debt Instrument [Line Items]
Repayments of assumed debt				$ 400,000,000	€ 0.4
Term Loan Credit Facility Entered In July 2022 | Bank loans | Subsequent Event
Debt Instrument [Line Items]
Facility Amount	$ 2,000,000,000
Debt instrument, term	18 months

Debt and Borrowing Arrangemen_6

Debt and Borrowing Arrangements - Debt Redemptions (Details) - Notes Payable $ in Millions	Jun. 30, 2022 USD ($)
3.625% Notes Due February 2026
Debt Instrument [Line Items]
Interest Rate	3.625%
Amount Redeemed	$ 130
4.125% Notes Due May 2028
Debt Instrument [Line Items]
Interest Rate	4.125%
Amount Redeemed	$ 211
2.750% Notes Due April 2030
Debt Instrument [Line Items]
Interest Rate	2.75%
Amount Redeemed	$ 500
6.500% Notes Due November 2031
Debt Instrument [Line Items]
Interest Rate	6.50%
Amount Redeemed	$ 17
7.000% Notes Due August 2037
Debt Instrument [Line Items]
Interest Rate	7%
Amount Redeemed	$ 10
6.875% Notes Due February 2038
Debt Instrument [Line Items]
Interest Rate	6.875%
Amount Redeemed	$ 21
6.875% Notes Due January 2039
Debt Instrument [Line Items]
Interest Rate	6.875%
Amount Redeemed	$ 8
6.500% Notes Due February 2040
Debt Instrument [Line Items]
Interest Rate	6.50%
Amount Redeemed	$ 36
4.625% Notes Due May 2048
Debt Instrument [Line Items]
Interest Rate	4.625%
Amount Redeemed	$ 54

Debt and Borrowing Arrangemen_7

Debt and Borrowing Arrangements - Debt Repayments (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Debt Instrument [Line Items]
Repayments of long-term debt	$ 2,329	$ 3,376
Notes Payable | 0.625% Notes Due 2022
Debt Instrument [Line Items]
Interest Rate	0.625%
Repayments of long-term debt	$ 1,000

Debt and Borrowing Arrangemen_8

Debt and Borrowing Arrangements - Debt Issuances (Details) - Notes Payable	Jun. 30, 2022 USD ($)
2.125% Notes Due 2024
Debt Instrument [Line Items]
Interest Rate	2.125%
Gross Proceeds	$ 500,000,000	[1]
2.625% Notes Due 2027
Debt Instrument [Line Items]
Interest Rate	2.625%
Gross Proceeds	$ 750,000,000	[1]
3.000% Notes Due 2032
Debt Instrument [Line Items]
Interest Rate	3%
Gross Proceeds	$ 750,000,000	[1]
[1]Represents gross proceeds from the issuance of notes excluding debt issuance costs, discounts and premiums.

Debt and Borrowing Arrangemen_9

Debt and Borrowing Arrangements - Fair Value of Debt (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Fair Value | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	$ 17,018	$ 20,249
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	$ 19,212	$ 19,512

Debt and Borrowing Arrangeme_10

Debt and Borrowing Arrangements - Interest and Other Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Debt Disclosure [Abstract]
Interest expense, debt	$ 89	$ 90	$ 180	$ 188
Loss on debt extinguishment and related expenses	0	0	129	137
Other expense/(income), net	9
Other expense/(income), net		(32)	(43)	(49)
Interest and other expense, net	$ 98	$ 58	$ 266	$ 276

Financial Instruments - Fair Va

Financial Instruments - Fair Value of Derivative Instruments (Details) $ in Millions		Jun. 30, 2022 EUR (€)	Jun. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)	Sep. 20, 2021 EUR (€)
Derivatives, Fair Value [Line Items]
Asset Derivatives			$ 1,043	$ 687
Liability Derivatives			326	242
0.000% Notes Due September 2024 | Exchangeable Notes
Derivatives, Fair Value [Line Items]
Debt issued | €		€ 300,000,000			€ 300,000,000
Derivatives designated as accounting hedges
Derivatives, Fair Value [Line Items]
Asset Derivatives			516	144
Liability Derivatives			28	62
Derivatives designated as accounting hedges | Currency exchange contracts
Derivatives, Fair Value [Line Items]
Asset Derivatives			3	0
Liability Derivatives			7	0
Derivatives designated as accounting hedges | Interest rate contracts
Derivatives, Fair Value [Line Items]
Asset Derivatives			126	27
Liability Derivatives			0	17
Derivatives designated as accounting hedges | Net investment hedge derivative contracts
Derivatives, Fair Value [Line Items]
Asset Derivatives	[1]		387	117
Liability Derivatives	[1]		21	45
Derivatives not designated as accounting hedges
Derivatives, Fair Value [Line Items]
Asset Derivatives			527	543
Liability Derivatives			298	180
Derivatives not designated as accounting hedges | Currency exchange contracts
Derivatives, Fair Value [Line Items]
Asset Derivatives			221	156
Liability Derivatives			150	40
Derivatives not designated as accounting hedges | Commodity contracts
Derivatives, Fair Value [Line Items]
Asset Derivatives			306	387
Liability Derivatives			145	137
Derivatives not designated as accounting hedges | Equity method investment contracts
Derivatives, Fair Value [Line Items]
Asset Derivatives	[2]		0	0
Liability Derivatives	[2]		$ 3	$ 3
[1] Net investment hedge derivative contracts consist of cross-currency interest rate swaps, forward contracts and options. We also designate some of our non-U.S. dollar denominated debt to hedge a portion of our net investments in our non-U.S. operations. This debt is not reflected in the table above, but is included in long-term debt discussed in Note 8, Debt and Borrowing Arrangements . Both net investment hedge derivative contracts and non-U.S. dollar denominated debt acting as net investment hedges are also disclosed in the Derivative Volume table and the Hedges of Net Investments in International Operations section appearing later in this footnote.

Financial Instruments - Derivat

Financial Instruments - Derivative Instruments Fair Value and Measurement Inputs (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Derivative [Line Items]
Total derivatives	$ 717	$ 445
Currency exchange contracts
Derivative [Line Items]
Total derivatives	67	116
Commodity contracts
Derivative [Line Items]
Total derivatives	161	251
Interest rate contracts
Derivative [Line Items]
Total derivatives	126	10
Net investment hedge derivative contracts
Derivative [Line Items]
Total derivatives	366	71
Equity method investment contracts
Derivative [Line Items]
Total derivatives	(3)	(3)
Quoted Prices in Active Markets for Identical Assets (Level 1)
Derivative [Line Items]
Total derivatives	109	161
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	109	161
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
Quoted Prices in Active Markets for Identical Assets (Level 1) | Equity method investment contracts
Derivative [Line Items]
Total derivatives	0	0
Significant Other Observable Inputs (Level 2)
Derivative [Line Items]
Total derivatives	608	284
Significant Other Observable Inputs (Level 2) | Currency exchange contracts
Derivative [Line Items]
Total derivatives	67	116
Significant Other Observable Inputs (Level 2) | Commodity contracts
Derivative [Line Items]
Total derivatives	52	90
Significant Other Observable Inputs (Level 2) | Interest rate contracts
Derivative [Line Items]
Total derivatives	126	10
Significant Other Observable Inputs (Level 2) | Net investment hedge derivative contracts
Derivative [Line Items]
Total derivatives	366	71
Significant Other Observable Inputs (Level 2) | Equity method investment contracts
Derivative [Line Items]
Total derivatives	(3)	(3)
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
Significant Unobservable Inputs (Level 3) | Equity method investment contracts
Derivative [Line Items]
Total derivatives	$ 0	$ 0

Financial Instruments - Notiona

Financial Instruments - Notional Values of Hedging Instruments (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Euro notes | Net investment hedge debt
Derivative [Line Items]
Notional Amount	$ 3,339	$ 3,622
British pound sterling notes | Net investment hedge debt
Derivative [Line Items]
Notional Amount	321	356
Swiss franc notes | Net investment hedge debt
Derivative [Line Items]
Notional Amount	775	811
Canadian dollar notes | Net investment hedge debt
Derivative [Line Items]
Notional Amount	466	475
Currency exchange contracts | Intercompany loans and forecasted interest payments
Derivative [Line Items]
Notional Amount	2,270	1,891
Currency exchange contracts | Forecasted transactions
Derivative [Line Items]
Notional Amount	6,245	4,831
Commodity contracts
Derivative [Line Items]
Notional Amount	11,131	9,694
Interest rate contracts
Derivative [Line Items]
Notional Amount	1,850	1,850
Net investment hedge contracts
Derivative [Line Items]
Notional Amount	7,090	$ 3,915
Net investment hedge contracts | Net investment hedge debt
Derivative [Line Items]
Notional Amount	$ 7,100

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		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net [Abstract]
Balance at beginning of period	$ 28,216	$ 27,149	$ 28,323	$ 27,654
Transfer of realized losses/(gains) in fair value to earnings	(82)	25	(40)	59
Balance at end of period	27,553	27,620	27,553	27,620
Cash flow hedges
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net [Abstract]
Unrealized (loss)/gain in fair value	104	13	131	10
Derivative Cash Flow Hedges
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net [Abstract]
Balance at beginning of period	(96)	(159)	(148)	(161)
Balance at end of period	(88)	(142)	(88)	(142)
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	(96)	(159)	(148)	(161)
Transfer of realized losses/(gains) in fair value to earnings	(96)	4	(71)	9
Unrealized (loss)/gain in fair value	104	13	131	10
Balance at end of period	$ (88)	$ (142)	$ (88)	$ (142)

Financial Instruments - Cash _2

Financial Instruments - Cash Flow Hedges After-tax Gains/(Losses) (Details) - Cash flow hedges - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Derivative Instruments, Gain (Loss) [Line Items]
After-tax gains/(losses) reclassified from accumulated other comprehensive income into earnings/(losses)	$ 96	$ (4)	$ 71	$ (9)
After-tax gains/(losses) recognized in other comprehensive earnings/(losses)	104	13	131	10
Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
After-tax gains/(losses) reclassified from accumulated other comprehensive income into earnings/(losses)	98	(4)	75	(9)
After-tax gains/(losses) recognized in other comprehensive earnings/(losses)	102	6	127	4
Currency exchange contracts | Forecasted transactions
Derivative Instruments, Gain (Loss) [Line Items]
After-tax gains/(losses) reclassified from accumulated other comprehensive income into earnings/(losses)	(2)	0	(4)	0
After-tax gains/(losses) recognized in other comprehensive earnings/(losses)	$ 2	$ 7	$ 4	$ 6

Financial Instruments - Narrati

Financial Instruments - Narrative (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Cost of sales	$ 4,633		$ 4,011	$ 9,414	$ 8,283
Selling, general and administrative expenses	1,676		1,593	3,369	3,157
Interest and other expense, net	(98)		$ (58)	(266)	$ (276)
Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, aggregate notional value	$ 1,850			1,850		$ 1,850
Early Settlement of Currency Exchange Contracts | Currency exchange contracts
Derivative Instruments, Gain (Loss) [Line Items]
Cost of sales		$ 74
Selling, general and administrative expenses		5
Interest and other expense, net		$ 20
Cash flow hedges | Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Expected transfer of unrealized losses (net of taxes) for interest rate cash flow hedges to earnings during the next 12 months				$ 10
Hedged forecasted transaction period				4 years 2 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		6 Months Ended
		Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Derivative Instruments, Gain (Loss) [Line Items]
After-tax gain/(loss) on NIH contracts	[1]	$ 307	$ (36)	$ 348	$ 23
Amounts excluded from the assessment of hedge effectiveness	[2]	$ 30	$ 19	$ 52	$ 40
[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		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Euro notes
Derivative Instruments, Gain (Loss) [Line Items]
After-tax gains/(losses) related to hedges of net investments in international operations	$ 142	$ (31)	$ 216	$ 92
British pound sterling notes
Derivative Instruments, Gain (Loss) [Line Items]
After-tax gains/(losses) related to hedges of net investments in international operations	19	(1)	27	(3)
Swiss franc notes
Derivative Instruments, Gain (Loss) [Line Items]
After-tax gains/(losses) related to hedges of net investments in international operations	21	(17)	27	39
Canadian notes
Derivative Instruments, Gain (Loss) [Line Items]
After-tax gains/(losses) related to hedges of net investments in international operations	$ 11	$ (5)	$ 7	$ (9)

Financial Instruments - Economi

Financial Instruments - Economic Hedges (Details) - Derivatives Not Designated as Hedging Instruments - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives instruments, pre-tax gains/(losses) recognized in earnings	$ 30	$ 94	$ 272	$ 294
Currency exchange contracts | Intercompany loans and forecasted interest payments | Interest and other expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives instruments, pre-tax gains/(losses) recognized in earnings	7	2	(4)	72
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	(52)	14	(31)	(2)
Currency exchange contracts | Forecasted transactions | Cost of sales
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives instruments, pre-tax gains/(losses) recognized in earnings	114	(38)	107	12
Currency exchange contracts | Forecasted transactions | Selling, general and administrative expenses
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives instruments, pre-tax gains/(losses) recognized in earnings	1	(1)	3	1
Commodity contracts | Cost of sales
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives instruments, pre-tax gains/(losses) recognized in earnings	(40)	117	197	211
Equity method investment contracts | Gain on equity method investment transactions
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives instruments, pre-tax gains/(losses) recognized in earnings	$ 0	$ 0	$ 0	$ 0

Benefit Plans - Pension Plans (

Benefit Plans - Pension Plans (Details) - Pension Plans - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2022		Jun. 30, 2021		Jun. 30, 2022	Jun. 30, 2021
U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 2		$ 2		$ 3	$ 4
Interest cost	12		10		23	20
Expected return on plan assets	(18)		(18)		(36)	(36)
Net loss from experience differences	2		5		5	9
Prior service cost/(benefit)	0		0		0	0
Curtailment credit	0	[1]	0	[1]	0	0
Settlement losses and other expenses	4		6		7	9
Net periodic cost/(benefit)	2		5		2	6
Non-U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	16		35		55	70
Interest cost	47		30		88	59
Expected return on plan assets	(94)		(107)		(186)	(213)
Net loss from experience differences	15		33		33	66
Prior service cost/(benefit)	0		(1)		(1)	(3)
Curtailment credit	0	[1]	(14)	[1]	0	(14)
Settlement losses and other expenses	0		0		0	0
Net periodic cost/(benefit)	$ (16)		(24)		$ (11)	(35)
U.K.
Defined Benefit Plan Disclosure [Line Items]
Curtailment credit			(14)			(14)
Incentive payment charges and other expenses related to frozen benefit plan			$ 44			$ 45
[1]During the second quarter of 2021, we made a decision to freeze our Defined Benefit Pension Scheme in the United Kingdom. As a result, we recognized a curtailment credit of $(14 million) for the three and six months ended June 30, 2021 recorded within benefit plan non-service income. We also incurred incentive payment charges and other expenses related to this decision of $44 million for the three months ended June 30, 2021 and $45 million for the six months ended June 30, 2021 included in operating income.

Benefit Plans - Narrative (Deta

Benefit Plans - Narrative (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
	Jul. 11, 2019	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
U.S. Plans | North America
Defined Benefit Plan Disclosure [Line Items]
Multiemployer plan, withdrawal liability	$ 526	$ 352		$ 352
Multiemployer plan, withdrawal obligation term	20 years
Multiemployer plan, accreted interest on the long-term liability		2	$ 3	5	$ 6
Other current liabilities | U.S. Plans | North America
Defined Benefit Plan Disclosure [Line Items]
Multiemployer plan, withdrawal liability		15		15
Long-term other liabilities | U.S. Plans | North America
Defined Benefit Plan Disclosure [Line Items]
Multiemployer plan, withdrawal liability		337		337
Pension Plans | U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Employer contribution				1
Estimated future employer contributions over the remainder of 2022		2		2
Pension Plans | Non-U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Employer contribution				102
Estimated future employer contributions over the remainder of 2022		$ 83		83
Pension Plans | United Kingdom and Ireland
Defined Benefit Plan Disclosure [Line Items]
Employer contribution				$ 41

Benefit Plans - Postretirement

Benefit Plans - Postretirement Benefit Plans (Details) - Postretirement Benefit Plans - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 0	$ 1	$ 1	$ 2
Interest cost	2	2	4	4
Net loss from experience differences	0	0	0	1
Prior service credit	1	0	1	0
Net periodic cost/(benefit)	$ 3	$ 3	$ 6	$ 7

Benefit Plans - Postemployment

Benefit Plans - Postemployment Benefit Plans (Details) - Postemployment Benefit Plans - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 1	$ 2	$ 2	$ 3
Interest cost	0	0	1	1
Amortization of net gains	(1)	0	(2)	(1)
Net periodic cost/(benefit)	$ 0	$ 2	$ 1	$ 3

Stock Plans - Stock Option Acti

Stock Plans - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended	6 Months Ended	12 Months Ended
		Jun. 30, 2022	Jun. 30, 2022	Dec. 31, 2021
Shares Subject to Option
Balance at January 1, 2022(in shares)			23,503,759
Options granted (in shares)			2,213,790
Options exercised (in shares)	[1]		(3,097,734)
Options canceled (in shares)			(279,021)
Balance at June 30, 2022 (in shares)		22,340,794	22,340,794	23,503,759
Weighted- Average Exercise or Grant Price Per Share
Balance at January 1, 2022 (in dollars per share)			$ 42.65
Options granted (in dollars per share)			64.69
Options exercised (in dollars per share)	[1]		35.75
Options canceled (in dollars per share)			55.03
Balance at June 30, 2022 (in dollars per share)		$ 45.63	$ 45.63	$ 42.65
Average Remaining Contractual Term
Average remaining contractual term			5 years	5 years
Aggregate Intrinsic Value
Aggregate intrinsic value		$ 373	$ 373	$ 556
Aggregate intrinsic value options exercised	[1]		94
Cash received from options exercised		31	101
Actual tax benefit realized and recorded in the provision for income taxes for the tax deductions from the option exercises		$ 4	$ 14
Annual grant to eligible employees
Shares Subject to Option
Options granted (in shares)			2,180,540
Weighted- Average Exercise or Grant Price Per Share
Options granted (in dollars per share)			$ 64.65
Additional options issued
Shares Subject to Option
Options granted (in shares)			33,250
Weighted- Average Exercise or Grant Price Per Share
Options granted (in dollars per share)			$ 66.99
[1]Cash received from options exercised was $31 million in the three months and $101 million in the six months ended June 30, 2022. The actual tax benefit realized and recorded in the provision for income taxes for the tax deductions from the option exercises totaled $4 million in the three months and $14 million in the six months ended June 30, 2022.

Stock Plans - Performance Share

Stock Plans - Performance Share Units and Other Stock-Based Awards Activity (Details) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended	6 Months Ended
		Jun. 30, 2022	Jun. 30, 2022
Number of Shares
Balance at January 1, 2022 (in shares)			4,668,046
Shares granted (in shares)			2,013,717
Vested (in shares)	[1]		(1,710,015)
Forfeited (in shares)			(273,663)
Balance at June 30, 2022 (in shares)		4,698,085	4,698,085
Weighted-average grant date fair value per share
Balance at January 1, 2022 (in dollars per share)	[2]		$ 57.04
Shares granted (in dollars per share)	[2]		62.01
Vested (in dollars per share)	[1],[2]		55.31
Forfeited (in dollars per share)	[2]		61.01
Balance at June 30, 2022 (in dollars per share)	[2]	$ 59.57	$ 59.57
Weighted-Average Aggregate Fair Value
Weighted average grant date fair value of shares granted	[2]		$ 125
Weighted average grant date fair value of shares vested	[1],[2]		95
Maximum
Weighted-Average Aggregate Fair Value
Actual tax benefit/(expense) realized for the tax deductions from the shares vested		$ (1)	$ 4
Annual grant to eligible employees
Grant Date
Grant Date			Feb. 24, 2022
Performance share units
Number of Shares
Shares granted (in shares)			806,590
Weighted-average grant date fair value per share
Shares granted (in dollars per share)	[2]		$ 61.87
Deferred stock units
Number of Shares
Shares granted (in shares)			505,090
Weighted-average grant date fair value per share
Shares granted (in dollars per share)	[2]		$ 64.65
Additional shares granted
Number of Shares
Shares granted (in shares)	[3]		702,037
Weighted-average grant date fair value per share
Shares granted (in dollars per share)	[2],[3]		$ 60.28
[1]The actual tax benefit/(expense) realized and recorded in the provision for income taxes for the tax deductions from the shares vested totaled $(1) million in the three months and $4 million in the six months ended June 30, 2022.[2]The grant date fair value of performance share units is determined based on the Monte Carlo simulation model for the market-based total shareholder return component and the closing market price of the Company’s stock on the grant date for performance-based components. The Monte Carlo simulation model incorporates the probability of achieving the total shareholder return market condition. Compensation expense is recognized using the grant date fair values regardless of whether the market condition is achieved, so long as the requisite service has been provided.[3]Includes performance share units and deferred stock units.

Stock Plans - Share Repurchase

Stock Plans - Share Repurchase Program (Details) - USD ($) $ / shares in Units, shares in Millions			1 Months Ended	3 Months Ended		6 Months Ended		108 Months Ended
	Dec. 02, 2020	Jan. 31, 2018	Jul. 31, 2022	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Dec. 31, 2018
Class of Stock [Line Items]
Common shares repurchased				$ 770,000,000	$ 451,000,000	$ 1,505,000,000	$ 1,468,000,000
Payments for repurchase of common Stock						1,506,000,000	$ 1,498,000,000
Common Stock
Class of Stock [Line Items]
Stock repurchase value									$ 13,700,000,000
Common shares repurchased						$ 1,500,000,000
Number of shares repurchased (in shares)						23
Average cost of shares repurchased (in dollars per share)						$ 64.39
Remaining share repurchase capacity				$ 2,200,000,000		$ 2,200,000,000
Common Stock | Subsequent Event
Class of Stock [Line Items]
Payments for repurchase of common Stock			$ 15,000,000
Common Stock | Share Repurchase Program Amended January 31, 2018
Class of Stock [Line Items]
Stock repurchase value		$ 19,700,000,000
Increase in share repurchase value		$ 6,000,000,000
Common Stock | Share Repurchase Program Amended December 2, 2020
Class of Stock [Line Items]
Stock repurchase value	$ 23,700,000,000
Increase in share repurchase value	$ 4,000,000,000
Common Stock | Prior to January 1, 2022
Class of Stock [Line Items]
Common shares repurchased								$ 20,000,000,000

Commitments and Contingencies (

Commitments and Contingencies (Details) - U.S. Commodity Futures Trading Commission (CFTC)	6 Months Ended
	Jun. 30, 2022 USD ($)
Loss Contingencies [Line Items]
Loss contingency, filing date	April 1, 2015
Loss contingency, damages sought	$ 1,000,000
Each Additional Violation of the Commodity Exchange Act
Loss Contingencies [Line Items]
Loss contingency, damages sought	$ 140,000

Reclassifications from Accumu_3

Reclassifications from Accumulated Other Comprehensive Income - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Equity [Abstract]
Losses reclassified from accumulated other comprehensive earnings/(losses) to net earnings	$ (82)	$ 25	$ (40)	$ 59

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		6 Months Ended
		Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of period		$ 28,216	$ 27,149	$ 28,323	$ 27,654
Total other comprehensive earnings/(losses)		(224)	176	(29)	111
Less: other comprehensive (earnings)/loss attributable to noncontrolling interests		11	(2)	15	7
Other comprehensive earnings/(losses) attributable to Mondelēz International		(213)	174	(14)	118
Balance at end of period		27,553	27,620	27,553	27,620
Currency translation adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of period		(9,043)	(8,782)	(9,097)	(8,655)
Currency impact		(339)	165	(333)	31
Tax (expense)/benefit		(60)	(8)	(16)	(10)
Total other comprehensive earnings/(losses)		(399)	157	(349)	21
Less: other comprehensive (earnings)/loss attributable to noncontrolling interests		11	(2)	15	7
Balance at end of period		(9,431)	(8,627)	(9,431)	(8,627)
Pension and Other Benefits Plans
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of period		(1,286)	(1,805)	(1,379)	(1,874)
Currency impact		72	(18)	104	23
Total other comprehensive earnings/(losses)		167	2	260	71
Net actuarial gain/(loss) arising during period		108	(1)	152	(2)
Tax (expense)/benefit before reclassifications		(27)	0	(27)	0
Tax expense/(benefit) on reclassifications	[1]	(6)	(8)	(12)	(17)
Balance at end of period		(1,119)	(1,803)	(1,119)	(1,803)
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]	16	37	36	72
Settlement losses and other expenses
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Losses/(gains) reclassified into net earnings	[2]	4	6	7	9
Curtailment credit
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Losses/(gains) reclassified into net earnings		0	(14)	0	(14)
Derivative Cash Flow Hedges
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of period		(96)	(159)	(148)	(161)
Currency impact		5	(1)	7	2
Total other comprehensive earnings/(losses)		8	17	60	19
Net actuarial gain/(loss) arising during period		98	16	124	9
Tax (expense)/benefit before reclassifications		1	(2)	0	(1)
Tax expense/(benefit) on reclassifications	[1]	0	(1)	(23)	(2)
Balance at end of period		(88)	(142)	(88)	(142)
Derivative Cash Flow Hedges | Interest rate contracts
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Losses/(gains) reclassified into net earnings	[2],[3]	(99)	5	(53)	11
Derivative Cash Flow Hedges | Currency exchange contracts
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Losses/(gains) reclassified into net earnings	[3]	3	0	5	0
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		(10,425)	(10,746)	(10,624)	(10,690)
Total other comprehensive earnings/(losses)		(213)	174	(14)	118
Balance at end of period		$ (10,638)	$ (10,572)	$ (10,638)	$ (10,572)
[1]Taxes reclassified to earnings are recorded within the provision for income taxes.[2]These amounts include equity method investment transactions recorded within gain on equity method investment transactions.[3]These reclassified gains or losses are recorded within interest and other expense, net.

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Tax Contingency [Line Items]
Estimated annual effective tax rate			24.40%	23.70%
Effective tax rate	23.40%	45.90%	22.60%	30.90%
Discrete net tax benefit	$ 2	$ 81	$ 64	$ 15
Effective tax rate, excluding effects of equity method investment transaction		31.10%		24.50%
Net tax expense from increase in deferred tax liability resulting from tax legislation		$ 95		$ 99
Net benefit from the release of uncertain tax positions due to expiration of statutes of limitations, audit settlements		11		43
KDP
Income Tax Contingency [Line Items]
Net tax expense incurred in connection with equity method transaction		$ 128		128
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		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Earnings Per Share [Abstract]
Net earnings	$ 748	$ 1,079	$ 1,609	$ 2,047
Noncontrolling interest earnings	(1)	(1)	(7)	(8)
Net earnings attributable to Mondelēz International	$ 747	$ 1,078	$ 1,602	$ 2,039
Weighted-average shares for basic EPS (in shares)	1,382	1,407	1,385	1,410
Plus incremental shares from assumed conversions of stock options and long-term incentive plan shares (in shares)	7	9	8	9
Weighted-average shares for diluted EPS (in shares)	1,389	1,416	1,393	1,419
Basic earnings per share attributable to Mondelēz International (in dollars per share)	$ 0.54	$ 0.77	$ 1.16	$ 1.45
Diluted earnings per share attributable to Mondelēz International (in dollars per share)	$ 0.54	$ 0.76	$ 1.15	$ 1.44

Earnings per Share - Narrative

Earnings per Share - Narrative (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Stock Options and Performance Share Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Mondelēz International stock options excluded from the calculation of diluted EPS (in shares)	3.4	3.4	2.7	3.6

Segment Reporting - Narrative (

Segment Reporting - Narrative (Details)	6 Months Ended
	Jun. 30, 2022 segment
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			6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021		Jun. 30, 2022	Jun. 30, 2021
Segment Reporting Information [Line Items]
Net revenues	$ 7,274	$ 6,642	[1]	$ 15,038	$ 13,880	[1]
Operating income	927	872		2,021	2,155
Unrealized (losses)/gains on hedging activities (mark-to-market impacts)	(109)	20		(82)	138
General corporate expenses	(62)	(78)		(112)	(142)
Amortization of intangible assets	(32)	(32)		(64)	(70)
Gain on acquisition	0	0		0	9
Acquisition-related costs	(5)	(17)		(26)	(24)
Benefit plan non-service income	30	54		63	98
Interest and other expense, net	(98)	(58)		(266)	(276)
Earnings before income taxes	859	868		1,818	1,977
Latin America
Segment Reporting Information [Line Items]
Net revenues	876	669	[1]	1,702	1,338	[1]
Operating income	90	54		193	130
AMEA
Segment Reporting Information [Line Items]
Net revenues	1,535	1,452	[1]	3,402	3,197	[1]
Operating income	211	213		483	575
Europe
Segment Reporting Information [Line Items]
Net revenues	2,626	2,474	[1]	5,561	5,321	[1]
Operating income	380	413		757	970
North America
Segment Reporting Information [Line Items]
Net revenues	2,237	2,047	[1]	4,373	4,024	[1]
Operating income	$ 454	$ 299		$ 872	$ 569
[1]Our snack product categories include biscuits, chocolate and gum & candy. During the first quarter of 2022, we realigned some of our products between our biscuits and chocolate categories; as such, we reclassified the product category net revenues on a basis consistent with the 2022 presentation.

Segment Reporting - Net Reven_2

Segment Reporting - Net Revenues by Product Category (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	[1]	Jun. 30, 2022	Jun. 30, 2021	[1]
Segment Reporting Information [Line Items]
Net revenues	$ 7,274	$ 6,642		$ 15,038	$ 13,880
Biscuits
Segment Reporting Information [Line Items]
Net revenues	3,725	3,333		7,356	6,639
Chocolate
Segment Reporting Information [Line Items]
Net revenues	1,979	1,847		4,522	4,316
Gum & Candy
Segment Reporting Information [Line Items]
Net revenues	840	713		1,627	1,364
Beverages
Segment Reporting Information [Line Items]
Net revenues	260	255		591	562
Cheese & Grocery
Segment Reporting Information [Line Items]
Net revenues	470	494		942	999
Latin America
Segment Reporting Information [Line Items]
Net revenues	876	669		1,702	1,338
Latin America | Biscuits
Segment Reporting Information [Line Items]
Net revenues	255	197		479	374
Latin America | Chocolate
Segment Reporting Information [Line Items]
Net revenues	243	181		491	373
Latin America | Gum & Candy
Segment Reporting Information [Line Items]
Net revenues	193	129		365	260
Latin America | Beverages
Segment Reporting Information [Line Items]
Net revenues	92	82		194	176
Latin America | Cheese & Grocery
Segment Reporting Information [Line Items]
Net revenues	93	80		173	155
AMEA
Segment Reporting Information [Line Items]
Net revenues	1,535	1,452		3,402	3,197
AMEA | Biscuits
Segment Reporting Information [Line Items]
Net revenues	568	509		1,225	1,092
AMEA | Chocolate
Segment Reporting Information [Line Items]
Net revenues	536	475		1,242	1,145
AMEA | Gum & Candy
Segment Reporting Information [Line Items]
Net revenues	201	215		404	409
AMEA | Beverages
Segment Reporting Information [Line Items]
Net revenues	144	146		341	326
AMEA | Cheese & Grocery
Segment Reporting Information [Line Items]
Net revenues	86	107		190	225
Europe
Segment Reporting Information [Line Items]
Net revenues	2,626	2,474		5,561	5,321
Europe | Biscuits
Segment Reporting Information [Line Items]
Net revenues	1,001	849		1,952	1,659
Europe | Chocolate
Segment Reporting Information [Line Items]
Net revenues	1,140	1,137		2,652	2,681
Europe | Gum & Candy
Segment Reporting Information [Line Items]
Net revenues	170	154		322	302
Europe | Beverages
Segment Reporting Information [Line Items]
Net revenues	24	27		56	60
Europe | Cheese & Grocery
Segment Reporting Information [Line Items]
Net revenues	291	307		579	619
North America
Segment Reporting Information [Line Items]
Net revenues	2,237	2,047		4,373	4,024
North America | Biscuits
Segment Reporting Information [Line Items]
Net revenues	1,901	1,778		3,700	3,514
North America | Chocolate
Segment Reporting Information [Line Items]
Net revenues	60	54		137	117
North America | Gum & Candy
Segment Reporting Information [Line Items]
Net revenues	276	215		536	393
North America | Beverages
Segment Reporting Information [Line Items]
Net revenues	0	0		0	0
North America | Cheese & Grocery
Segment Reporting Information [Line Items]
Net revenues	$ 0	$ 0		$ 0	$ 0
[1]Our snack product categories include biscuits, chocolate and gum & candy. During the first quarter of 2022, we realigned some of our products between our biscuits and chocolate categories; as such, we reclassified the product category net revenues on a basis consistent with the 2022 presentation.