Mondelez International (MDLZ) 8-K Regulation FD Disclosure

Exhibit 99.1

Kraft Foods Inc. and Subsidiaries

Segment Realignment and Excise Tax Reclassification

Quarterly 2008 and Full Year 2008

($ in millions) (Unaudited)

	2008
	Q1			Q2			Q3			Q4			Year
Net Revenues - As Reported
U.S. Beverages	$	772		$	789		$	743		$	697		$	3,001
U.S. Cheese		957			972			919			1,159			4,007
U.S. Convenient Meals		1,032			1,089			1,081			1,038			4,240
U.S. Grocery		792			912			802			883			3,389
U.S. Snacks		1,190			1,272			1,274			1,289			5,025
Canada & N.A. Foodservice		1,029			1,141			1,109			1,015			4,294
North America		5,772			6,175			5,928			6,081			23,956
Europe*		2,718			2,914			2,725			2,902			11,259
Developing Markets		1,612			1,781			1,809			1,784			6,986
Net Revenues - As Reported	$	10,102		$	10,870		$	10,462		$	10,767		$	42,201
Segment Realignment
Europe (to Developing Markets)		(282	)		(327	)		(326	)		(327	)		(1,262	)
Developing Markets (from Europe)		282			327			326			327			1,262
Excise Tax Reclassification
Europe (from Net Revenues to Cost of Sales)		(56	)		(66	)		(61	)		(86	)		(269	)
Net Revenues - As Restated
U.S. Beverages	$	772		$	789		$	743		$	697		$	3,001
U.S. Cheese		957			972			919			1,159			4,007
U.S. Convenient Meals		1,032			1,089			1,081			1,038			4,240
U.S. Grocery		792			912			802			883			3,389
U.S. Snacks		1,190			1,272			1,274			1,289			5,025
Canada & N.A. Foodservice		1,029			1,141			1,109			1,015			4,294
North America		5,772			6,175			5,928			6,081			23,956
Europe		2,380			2,521			2,338			2,489			9,728
Developing Markets		1,894			2,108			2,135			2,111			8,248
Net Revenues - As Restated	$	10,046		$	10,804		$	10,401		$	10,681		$	41,932

* This segment was formerly known as European Union.

Kraft Foods Inc. and Subsidiaries

Segment Realignment and Excise Tax Reclassification

Full Year 2006 and Quarterly 2007

($ in millions) (Unaudited)

	2006 Year			2007
				Q1			Q2			Q3			Q4			Year
Net Revenues - As Reported
U.S. Beverages	$	2,886		$	777		$	788		$	712		$	713		$	2,990
U.S. Cheese		3,544			880			884			859			1,122			3,745
U.S. Convenient Meals		3,697			960			1,012			995			938			3,905
U.S. Grocery		3,225			781			873			757			866			3,277
U.S. Snacks		4,834			1,159			1,202			1,220			1,298			4,879
Canada & N.A. Foodservice		3,874			888			1,021			1,053			1,118			4,080
North America		22,060			5,445			5,780			5,596			6,055			22,876
Europe*		6,669			1,749			1,840			1,855			2,507			7,951
Developing Markets		4,527			1,126			1,291			1,309			1,581			5,307
Net Revenues - As Reported	$	33,256		$	8,320		$	8,911		$	8,760		$	10,143		$	36,134
Segment Realignment
Europe (to Developing Markets)		(537	)		(142	)		(151	)		(156	)		(219	)		(668	)
Developing Markets (from Europe)		537			142			151			156			219			668
Excise Tax Reclassification
Europe (from Net Revenues to Cost of Sales)		(238	)		(54	)		(63	)		(57	)		(102	)		(276	)
Net Revenues - As Restated
U.S. Beverages	$	2,886		$	777		$	788		$	712		$	713		$	2,990
U.S. Cheese		3,544			880			884			859			1,122			3,745
U.S. Convenient Meals		3,697			960			1,012			995			938			3,905
U.S. Grocery		3,225			781			873			757			866			3,277
U.S. Snacks		4,834			1,159			1,202			1,220			1,298			4,879
Canada & N.A. Foodservice		3,874			888			1,021			1,053			1,118			4,080
North America		22,060			5,445			5,780			5,596			6,055			22,876
Europe		5,894			1,553			1,626			1,642			2,186			7,007
Developing Markets		5,064			1,268			1,442			1,465			1,800			5,975
Net Revenues - As Restated	$	33,018		$	8,266		$	8,848		$	8,703		$	10,041		$	35,858

* This segment was formerly known as European Union.

Kraft Foods Inc. and Subsidiaries

Segment Realignment and Other Restatements

Quarterly 2008 and Full Year 2008

($ in millions) (Unaudited)

	2008
	Q1			Q2			Q3			Q4			Year
Operating Income - As Reported
U.S. Beverages	$	137		$	141		$	81		$	11		$	370
U.S. Cheese		115			125			179			203			622
U.S. Convenient Meals		105			122			91			81			399
U.S. Grocery		240			304			233			225			1,002
U.S. Snacks		96			198			170			66			530
Canada & N.A. Foodservice		107			129			151			51			438
North America		800			1,019			905			637			3,361
Europe*		170			163			178			(99	)		412
Developing Markets		144			192			216			33			585
Unrealized G/(L) on Hedging Activities		25			78			(141	)		(167	)		(205	)
General Corporate Expenses		(53	)		(48	)		(115	)		(97	)		(313	)
Amortization of Intangibles		(7	)		(4	)		(7	)		(5	)		(23	)
Operating Income - As Reported	$	1,079		$	1,400		$	1,036		$	302		$	3,817
Segment Realignment
Europe (to Developing Markets)		(46	)		(54	)		(63	)		(67	)		(230	)
Developing Markets (from Europe)		46			54			63			67			230
LIFO Restatement
U.S. Beverages		7			(6	)		1			3			5
U.S. Cheese		(29	)		22			(19	)		1			(25	)
U.S. Convenient Meals		7			2			2			1			12
U.S. Grocery		1			1			1			5			8
U.S. Snacks		2			—			4			12			18
Canada & N.A. Foodservice		(2	)		2			(5	)		4			(1	)
Cost Assignment Methodology Change
U.S. Beverages		1			—			1			4			6
U.S. Cheese		(4	)		(4	)		(12	)		(14	)		(34	)
U.S. Convenient Meals		(19	)		(21	)		(14	)		(18	)		(72	)
U.S. Grocery		(2	)		1			2			(2	)		(1	)
U.S. Snacks		22			24			16			28			90
Canada & N.A. Foodservice		2			—			7			2			11
Adoption of FAS No. 160
General Corporate Expenses (to Noncontrolling Interest)		2			2			3			2			9
Operating Income - As Restated
U.S. Beverages	$	145		$	135		$	83		$	18		$	381
U.S. Cheese		82			143			148			190			563
U.S. Convenient Meals		93			103			79			64			339
U.S. Grocery		239			306			236			228			1,009
U.S. Snacks		120			222			190			106			638
Canada & N.A. Foodservice		107			131			153			57			448
North America		786			1,040			889			663			3,378
Europe		124			109			115			(166	)		182
Developing Markets		190			246			279			100			815
Unrealized G/(L) on Hedging Activities		25			78			(141	)		(167	)		(205	)
General Corporate Expenses		(51	)		(46	)		(112	)		(95	)		(304	)
Amortization of Intangibles		(7	)		(4	)		(7	)		(5	)		(23	)
Operating Income - As Restated	$	1,067		$	1,423		$	1,023		$	330		$	3,843

* This segment was formerly known as European Union.

Kraft Foods Inc. and Subsidiaries

Segment Realignment and Other Restatements

Full Year 2006 and Quarterly 2007

($ in millions) (Unaudited)

	2006 Year			2007
				Q1			Q2			Q3			Q4			Year
Operating Income - As Reported
U.S. Beverages	$	204		$	138		$	132		$	(12	)	$	58		$	316
U.S. Cheese		660			149			83			91			77			400
U.S. Convenient Meals		412			107			113			93			74			387
U.S. Grocery		1,254			247			276			219			270			1,012
U.S. Snacks		444			155			155			157			140			607
Canada & N.A. Foodservice		426			79			110			131			84			404
North America		3,400			875			869			679			703			3,126
Europe*		547			118			124			129			198			569
Developing Markets		403			90			132			132			120			474
Unrealized G/(L) on Hedging Activities		—			8			4			(6	)		10			16
General Corporate Expenses		(189	)		(50	)		(43	)		(46	)		(67	)		(206	)
Amortization of Intangibles		(7	)		(2	)		(4	)		(3	)		(4	)		(13	)
Operating Income - As Reported	$	4,154		$	1,039		$	1,082		$	885		$	960		$	3,966
Segment Realignment
Europe (to Developing Markets)		(85	)		(22	)		(24	)		(26	)		(42	)		(114	)
Developing Markets (from Europe)		85			22			24			26			42			114
LIFO Restatement
U.S. Beverages		16			7			(3	)		4			16			24
U.S. Cheese		(22	)		8			28			15			70			121
U.S. Convenient Meals		13			3			—			—			1			4
U.S. Grocery		7			1			1			1			8			11
U.S. Snacks		(13	)		2			—			—			17			19
Canada & N.A. Foodservice		(2	)		4			5			3			16			28
Cost Assignment Methodology Change
U.S. Beverages		6			—			3			—			3			6
U.S. Cheese		(34	)		(6	)		(7	)		(13	)		(8	)		(34	)
U.S. Convenient Meals		(72	)		(18	)		(19	)		(15	)		(20	)		(72	)
U.S. Grocery		(1	)		(1	)		(1	)		2			(1	)		(1	)
U.S. Snacks		90			22			21			26			21			90
Canada & N.A. Foodservice		11			3			3			—			5			11
Adoption of FAS No. 160
General Corporate Expenses (to Noncontrolling Interest)		5			1			1			—			1			3
Operating Income - As Restated
U.S. Beverages	$	226		$	145		$	132		$	(8	)	$	77		$	346
U.S. Cheese		604			151			104			93			139			487
U.S. Convenient Meals		353			92			94			78			55			319
U.S. Grocery		1,260			247			276			222			277			1,022
U.S. Snacks		521			179			176			183			178			716
Canada & N.A. Foodservice		435			86			118			134			105			443
North America		3,399			900			900			702			831			3,333
Europe		462			96			100			103			156			455
Developing Markets		488			112			156			158			162			588
Unrealized G/(L) on Hedging Activities		—			8			4			(6	)		10			16
General Corporate Expenses		(184	)		(49	)		(42	)		(46	)		(66	)		(203	)
Amortization of Intangibles		(7	)		(2	)		(4	)		(3	)		(4	)		(13	)
Operating Income - As Restated	$	4,158		$	1,065		$	1,114		$	908		$	1,089		$	4,176

* This segment was formerly known as European Union.

Kraft Foods Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Information

Net Revenues

For the Twelve Months Ended December 31,

($ in millions) (Unaudited)

														% Change				Organic Growth Drivers
	As Restated (GAAP)		Impact of Divestitures			Impact of Acquisitions			Impact of Currency			Organic (Non- GAAP)		As Restated (GAAP)		Organic (Non- GAAP)		Volume		Mix		Price
2008 Reconciliation
U.S. Beverages	$	3,001	$	—		$	—		$	—		$	3,001	0.4	%	2.8	%	(3.8	)pp	1.7	pp	4.9	pp
U.S. Cheese		4,007		—			—			—			4,007	7.0	%	7.0	%	(6.7	)	(0.4	)	14.1
U.S. Convenient Meals		4,240		—			—			—			4,240	8.6	%	8.6	%	0.8		2.2		5.6
U.S. Grocery		3,389		—			—			—			3,389	3.4	%	3.4	%	(3.5	)	0.7		6.2
U.S. Snacks		5,025		—			(17	)		—			5,008	3.0	%	2.8	%	(3.1	)	(2.5	)	8.4
Canada & N.A. Foodservice		4,294		—			(3	)		(56	)		4,235	5.2	%	4.2	%	1.2		(0.9	)	3.9
North America	$	23,956	$	—		$	(20	)	$	(56	)	$	23,880	4.7	%	4.8	%	(2.5	)	0.0		7.3
Europe		9,728		(214	)		(2,216	)		(387	)		6,911	38.8	%	3.4	%	(1.8	)	0.5		4.7
Developing Markets		8,248		(16	)		(943	)		(272	)		7,017	38.0	%	17.7	%	0.9		4.7		12.1
Kraft Foods	$	41,932	$	(230	)	$	(3,179	)	$	(715	)	$	37,808	16.9	%	6.7	%	(1.8	)pp	0.9	pp	7.6	pp
2007 Reconciliation
U.S. Beverages	$	2,990	$	(72	)	$	—		$	—		$	2,918
U.S. Cheese		3,745		—			—			—			3,745
U.S. Convenient Meals		3,905		—			—			—			3,905
U.S. Grocery		3,277		—			—			—			3,277
U.S. Snacks		4,879		(9	)		—			—			4,870
Canada & N.A. Foodservice		4,080		(15	)		—			—			4,065
North America	$	22,876	$	(96	)	$	—		$	—		$	22,780
Europe		7,007		(323	)		—			—			6,684
Developing Markets		5,975		(15	)		—			—			5,960
Kraft Foods	$	35,858	$	(434	)	$	—		$	—		$	35,424

Kraft Foods Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Information

Net Revenues

For the Three Months Ended December 31,

($ in millions) (Unaudited)

													% Change				Organic Growth Drivers
	As Restated (GAAP)		Impact of Divestitures			Impact of Acquisitions			Impact of Currency		Organic (Non- GAAP)		As Restated (GAAP)		Organic (Non- GAAP)		Volume		Mix		Price
2008 Reconciliation
U.S. Beverages	$	697	$	—		$	—		$	—	$	697	(2.2	)%	(1.7	)%	(1.4	)pp	(4.5	)pp	4.2	pp
U.S. Cheese		1,159		—			—			—		1,159	3.3	%	3.3	%	(11.0	)	0.0		14.3
U.S. Convenient Meals		1,038		—			—			—		1,038	10.7	%	10.7	%	(1.2	)	1.5		10.4
U.S. Grocery		883		—			—			—		883	2.0	%	2.0	%	(7.9	)	2.0		7.9
U.S. Snacks		1,289		—			(7	)		—		1,282	(0.7	)%	(1.2	)%	(8.2	)	(4.2	)	11.2
Canada & N.A. Foodservice		1,015		—			(2	)		125		1,138	(9.2	)%	2.0	%	(3.9	)	0.2		5.7
North America	$	6,081	$	—		$	(9	)	$	125	$	6,197	0.4	%	2.4	%	(5.6	)	(1.4	)	9.4
Europe		2,489		(13	)		(545	)		195		2,126	13.9	%	1.4	%	(3.9	)	(1.5	)	6.8
Developing Markets		2,111		(2	)		(242	)		186		2,053	17.3	%	14.3	%	(4.7	)	3.6		15.4
Kraft Foods	$	10,681	$	(15	)	$	(796	)	$	506	$	10,376	6.4	%	4.4	%	(5.2	)pp	(0.3	)pp	9.9	pp
2007 Reconciliation
U.S. Beverages	$	713	$	(4	)	$	—		$	—	$	709
U.S. Cheese		1,122		—			—			—		1,122
U.S. Convenient Meals		938		—			—			—		938
U.S. Grocery		866		—			—			—		866
U.S. Snacks		1,298		—			—			—		1,298
Canada & N.A. Foodservice		1,118		(2	)		—			—		1,116
North America	$	6,055	$	(6	)	$	—		$	—	$	6,049
Europe		2,186		(90	)		—			—		2,096
Developing Markets		1,800		(4	)		—			—		1,796
Kraft Foods	$	10,041	$	(100	)	$	—		$	—	$	9,941

Kraft Foods Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Information

Net Revenues

For the Three Months Ended September 30,

($ in millions) (Unaudited)

														% Change				Organic Growth Drivers
	As Restated (GAAP)		Impact of Divestitures			Impact of Acquisitions			Impact of Currency			Organic (Non- GAAP)		As Restated (GAAP)		Organic (Non- GAAP)		Volume		Mix		Price
2008 Reconciliation
U.S. Beverages	$	743	$	—		$	—		$	—		$	743	4.4	%	7.4	%	3.5	pp	(0.3	)pp	4.2	pp
U.S. Cheese		919		—			—			—			919	7.0	%	7.0	%	(8.9	)	(1.8	)	17.7
U.S. Convenient Meals		1,081		—			—			—			1,081	8.6	%	8.6	%	0.0		1.0		7.6
U.S. Grocery		802		—			—			—			802	5.9	%	5.9	%	0.2		0.5		5.2
U.S. Snacks		1,274		—			(4	)		—			1,270	4.4	%	4.1	%	(4.1	)	(2.9	)	11.1
Canada & N.A. Foodservice		1,109		—			(1	)		(12	)		1,096	5.3	%	4.5	%	1.8		(0.7	)	3.4
North America	$	5,928	$	—		$	(5	)	$	(12	)	$	5,911	5.9	%	6.1	%	(0.6	)	(1.7	)	8.4
Europe		2,338		(44	)		(554	)		(160	)		1,580	42.4	%	1.3	%	(4.1	)	0.1		5.3
Developing Markets		2,135		(5	)		(249	)		(150	)		1,731	45.7	%	18.5	%	(0.2	)	6.6		12.1
Kraft Foods	$	10,401	$	(49	)	$	(808	)	$	(322	)	$	9,222	19.5	%	7.3	%	(1.0	)pp	(0.1	)pp	8.4	pp
2007 Reconciliation
U.S. Beverages	$	712	$	(20	)	$	—		$	—		$	692
U.S. Cheese		859		—			—			—			859
U.S. Convenient Meals		995		—			—			—			995
U.S. Grocery		757		—			—			—			757
U.S. Snacks		1,220		—			—			—			1,220
Canada & N.A. Foodservice		1,053		(4	)		—			—			1,049
North America	$	5,596	$	(24	)	$	—		$	—		$	5,572
Europe		1,642		(82	)		—			—			1,560
Developing Markets		1,465		(4	)		—			—			1,461
Kraft Foods	$	8,703	$	(110	)	$	—		$	—		$	8,593

Kraft Foods Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Information

Net Revenues

For the Three Months Ended June 30,

($ in millions) (Unaudited)

														% Change				Organic Growth Drivers
	As Restated (GAAP)		Impact of Divestitures			Impact of Acquisitions			Impact of Currency			Organic (Non- GAAP)		As Restated (GAAP)		Organic (Non- GAAP)		Volume		Mix		Price
2008 Reconciliation
U.S. Beverages	$	789	$	—		$	—		$	—		$	789	0.1	%	3.4	%	(4.6	)pp	2.0	pp	6.0	pp
U.S. Cheese		972		—			—			—			972	10.0	%	10.0	%	(5.1	)	(0.3	)	15.4
U.S. Convenient Meals		1,089		—			—			—			1,089	7.6	%	7.6	%	1.7		3.4		2.5
U.S. Grocery		912		—			—			—			912	4.5	%	4.5	%	(1.8	)	(1.0	)	7.3
U.S. Snacks		1,272		—			(1	)		—			1,271	5.8	%	5.7	%	(0.7	)	(2.3	)	8.7
Canada & N.A. Foodservice		1,141		—			—			(83	)		1,058	11.8	%	4.0	%	4.0		(2.6	)	2.6
North America	$	6,175	$	—		$	(1	)	$	(83	)	$	6,091	6.8	%	5.9	%	(1.2	)	0.1		7.0
Europe		2,521		(72	)		(624	)		(236	)		1,589	55.0	%	2.8	%	(3.4	)	1.9		4.3
Developing Markets		2,108		(5	)		(244	)		(169	)		1,690	46.2	%	17.5	%	1.7		4.2		11.6
Kraft Foods	$	10,804	$	(77	)	$	(869	)	$	(488	)	$	9,370	22.1	%	7.3	%	(1.0	)pp	1.1	pp	7.2	pp
2007 Reconciliation
U.S. Beverages	$	788	$	(25	)	$	—		$	—		$	763
U.S. Cheese		884		—			—			—			884
U.S. Convenient Meals		1,012		—			—			—			1,012
U.S. Grocery		873		—			—			—			873
U.S. Snacks		1,202		—			—			—			1,202
Canada & N.A. Foodservice		1,021		(4	)		—			—			1,017
North America	$	5,780	$	(29	)	$	—		$	—		$	5,751
Europe		1,626		(81	)		—			—			1,545
Developing Markets		1,442		(4	)		—			—			1,438
Kraft Foods	$	8,848	$	(114	)	$	—		$	—		$	8,734

Kraft Foods Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Information

Net Revenues

For the Three Months Ended March 31,

($ in millions) (Unaudited)

														% Change				Organic Growth Drivers
	As Restated (GAAP)		Impact of Divestitures			Impact of Acquisitions			Impact of Currency			Organic (Non- GAAP)		As Restated (GAAP)		Organic (Non- GAAP)		Volume		Mix		Price
2008 Reconciliation
U.S. Beverages	$	772	$	—		$	—		$	—		$	772	(0.6	)%	2.4	%	(12.6	)pp	10.1	pp	4.9	pp
U.S. Cheese		957		—			—			—			957	8.8	%	8.8	%	(1.3	)	1.2		8.9
U.S. Convenient Meals		1,032		—			—			—			1,032	7.5	%	7.5	%	2.7		2.9		1.9
U.S. Grocery		792		—			—			—			792	1.4	%	1.4	%	(4.3	)	1.5		4.2
U.S. Snacks		1,190		—			(5	)		—			1,185	2.7	%	3.0	%	1.1		(0.3	)	2.2
Canada & N.A. Foodservice		1,029		—			—			(86	)		943	15.9	%	6.8	%	3.0		(0.1	)	3.9
North America	$	5,772	$	—		$	(5	)	$	(86	)	$	5,681	6.0	%	5.0	%	(2.6	)	3.4		4.2
Europe		2,380		(85	)		(493	)		(186	)		1,616	53.3	%	9.0	%	5.1		2.1		1.8
Developing Markets		1,894		(4	)		(208	)		(139	)		1,543	49.4	%	22.0	%	8.6		5.3		8.1
Kraft Foods	$	10,046	$	(89	)	$	(706	)	$	(411	)	$	8,840	21.5	%	8.4	%	0.2	pp	3.9	pp	4.3	pp
2007 Reconciliation
U.S. Beverages	$	777	$	(23	)	$	—		$	—		$	754
U.S. Cheese		880		—			—			—			880
U.S. Convenient Meals		960		—			—			—			960
U.S. Grocery		781		—			—			—			781
U.S. Snacks		1,159		(9	)		—			—			1,150
Canada & N.A. Foodservice		888		(5	)		—			—			883
North America	$	5,445	$	(37	)	$	—		$	—		$	5,408
Europe		1,553		(70	)		—			—			1,483
Developing Markets		1,268		(3	)		—			—			1,265
Kraft Foods	$	8,266	$	(110	)	$	—		$	—		$	8,156

Kraft Foods Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Information

Net Revenues

For the Twelve Months Ended December 31,

($ in millions) (Unaudited)

															% Change				Organic Growth Drivers
		As Restated (GAAP)		Impact of Divestitures			Impact of Acquisitions			Impact of Currency			Organic (Non- GAAP)		As Restated (GAAP)		Organic (Non- GAAP)		Volume		Mix		Price
2007 Reconciliation
U.S. Beverages		$	2,990	$	(72	)	$	—		$	—		$	2,918	3.6	%	5.2	%	1.8	pp	2.5	pp	0.9	pp
U.S. Cheese			3,745		—			—			—			3,745	5.7	%	5.7	%	0.2		0.8		4.7
U.S. Convenient Meals			3,905		—			—			—			3,905	5.6	%	5.6	%	3.4		1.6		0.6
U.S. Grocery			3,277		—			—			—			3,277	1.6	%	3.5	%	(0.6	)	2.1		2.0
U.S. Snacks			4,879		(9	)		—			—			4,870	0.9	%	3.5	%	1.6		2.0		(0.1	)
Canada & N.A. Foodservice			4,080		(15	)		—			(113	)		3,952	5.3	%	3.9	%	(0.3	)	0.3		3.9
North America		$	22,876	$	(96	)	$	—		$	(113	)	$	22,667	3.7	%	4.5	%	1.0		1.6		1.9
Europe			7,007		(323	)		(226	)		(571	)		5,887	18.9	%	3.3	%	3.1		2.0		(1.8	)
Developing Markets			5,975		(15	)		(7	)		(330	)		5,623	18.0	%	11.3	%	4.2		2.6		4.5
Kraft Foods		$	35,858	$	(434	)	$	(233	)	$	(1,014	)	$	34,177	8.6	%	5.4	%	1.8	pp	1.9	pp	1.7	pp
2006 Reconciliation
U.S. Beverages		$	2,886	$	(112	)	$	—		$	—		$	2,774
U.S. Cheese			3,544		—			—			—			3,544
U.S. Convenient Meals			3,697		—			—			—			3,697
U.S. Grocery			3,225		(59	)		—			—			3,166
U.S. Snacks			4,834		(127	)		—			—			4,707
Canada & N.A. Foodservice			3,874		(71	)		—			—			3,803
North America		$	22,060	$	(369	)	$	—		$	—		$	21,691
Europe			5,894		(196	)		—			—			5,698
Developing Markets			5,064		(13	)		—			—			5,051
Kraft Foods	��	$	33,018	$	(578	)	$	—		$	—		$	32,440

Kraft Foods Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Information

Operating Income

For the Twelve Months Ended December 31,

($ in millions) (Unaudited)

														% Change
	As Restated (GAAP)			Asset Impairment, Exit and Implementation Costs - Restructuring		Asset Impairments / Other Expenses - Non-Restructuring		(Gains) / Losses on Divestitures, net			Excluding Items (Non- GAAP)			As Restated (GAAP)		Excluding Items (Non- GAAP)
2008 Reconciliation
U.S. Beverages	$	381		$	65	$	—	$	1		$	447		10.1	%	(8.6	)%
U.S. Cheese		563			36		—		—			599		15.6	%	5.8	%
U.S. Convenient Meals		339			40		—		—			379		6.3	%	7.7	%
U.S. Grocery		1,009			46		—		—			1,055		(1.3	)%	(0.1	)%
U.S. Snacks		638			75		—		—			713		(10.9	)%	(2.2	)%
Canada & N.A. Foodservice		448			113		—		—			561		1.1	%	12.2	%
North America	$	3,378		$	375	$	—	$	1		$	3,754		1.4	%	1.7	%
Europe		182			474		100		91			847		(60.0	)%	37.3	%
Developing Markets		815			140		51		—			1,006		38.6	%	59.7	%
Unrealized G/(L) on Hedging Activities		(205	)		—		—		—			(205	)	(100.0+	)%	(100.0+	)%
Corporate Items		(327	)		—		72		—			(255	)	(51.4	)%	(18.1	)%
Kraft Foods	$	3,843		$	989	$	223	$	92		$	5,147		(8.0	)%	8.6	%
2007 Reconciliation
U.S. Beverages	$	346		$	17	$	120	$	6		$	489
U.S. Cheese		487			79		—		—			566
U.S. Convenient Meals		319			33		—		—			352
U.S. Grocery		1,022			34		—		—			1,056
U.S. Snacks		716			25		—		(12	)		729
Canada & N.A. Foodservice		443			57		—		—			500
North America	$	3,333		$	245	$	120	$	(6	)	$	3,692
Europe		455			152		10		—			617
Developing Markets		588			50		—		(8	)		630
Unrealized G/(L) on Hedging Activities		16			—		—		—			16
Corporate Items		(216	)		—		—		—			(216	)
Kraft Foods	$	4,176		$	447	$	130	$	(14	)	$	4,739

Kraft Foods Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Information

Operating Income

For the Three Months Ended December 31,

($ in millions) (Unaudited)

														% Change
	As Restated (GAAP)			Asset Impairment, Exit and Implementation Costs - Restructuring		Asset Impairments / Other Expenses - Non-Restructuring		(Gains) / Losses on Divestitures, net			Excluding Items (Non- GAAP)			As Restated (GAAP)		Excluding Items (Non- GAAP)
2008 Reconciliation
U.S. Beverages	$	18		$	23	$	—	$	—		$	41		(76.6	)%	(52.9	)%
U.S. Cheese		190			21		—		—			211		36.7	%	37.0	%
U.S. Convenient Meals		64			23		—		—			87		16.4	%	38.1	%
U.S. Grocery		228			39		—		—			267		(17.7	)%	(5.7	)%
U.S. Snacks		106			64		—		—			170		(40.4	)%	(7.1	)%
Canada & N.A. Foodservice		57			61		—		—			118		(45.7	)%	(18.6	)%
North America	$	663		$	231	$	—	$	—		$	894		(20.2	)%	(2.3	)%
Europe		(166	)		358		39		(1	)		230		(100.0+	)%	17.9	%
Developing Markets		100			91		51		—			242		(38.3	)%	36.7	%
Unrealized G/(L) on Hedging Activities		(167	)		—		—		—			(167	)	(100.0+	)%	(100.0+	)%
Corporate Items		(100	)		—		17		—			(83	)	(42.9	)%	(18.6	)%
Kraft Foods	$	330		$	680	$	107	$	(1	)	$	1,116		(69.7	)%	(9.0	)%
2007 Reconciliation
U.S. Beverages	$	77		$	4	$	—	$	6		$	87
U.S. Cheese		139			15		—		—			154
U.S. Convenient Meals		55			8		—		—			63
U.S. Grocery		277			6		—		—			283
U.S. Snacks		178			5		—		—			183
Canada & N.A. Foodservice		105			40		—		—			145
North America	$	831		$	78	$	—	$	6		$	915
Europe		156			29		10		—			195
Developing Markets		162			15		—		—			177
Unrealized G/(L) on Hedging Activities		10			—		—		—			10
Corporate Items		(70	)		—		—		—			(70	)
Kraft Foods	$	1,089		$	122	$	10	$	6		$	1,227

Kraft Foods Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Information

Operating Income

For the Three Months Ended September 30,

($ in millions) (Unaudited)

														% Change
	As Restated (GAAP)			Asset Impairment, Exit and Implementation Costs - Restructuring			Asset Impairments / Other Expenses - Non-Restructuring		(Gains) / Losses on Divestitures, net		Excluding Items (Non- GAAP)			As Restated (GAAP)		Excluding Items (Non- GAAP)
2008 Reconciliation
U.S. Beverages	$	83		$	26		$	—	$	1	$	110		100.0+	%	(6.0	)%
U.S. Cheese		148			1			—		—		149		59.1	%	44.7	%
U.S. Convenient Meals		79			7			—		—		86		1.3	%	(1.1	)%
U.S. Grocery		236			(2	)		—		—		234		6.3	%	2.2	%
U.S. Snacks		190			2			—		—		192		3.8	%	1.1	%
Canada & N.A. Foodservice		153			12			—		—		165		14.2	%	18.7	%
North America	$	889		$	46		$	—	$	1	$	936		26.6	%	8.2	%
Europe		115			35			57		—		207		11.7	%	63.0	%
Developing Markets		279			9			—		—		288		76.6	%	68.4	%
Unrealized G/(L) on Hedging Activities		(141	)		—			—		—		(141	)	(100.0+	)%	(100.0+	)%
Corporate Items		(119	)		—			55		—		(64	)	(100.0+	)%	(30.6	)%
Kraft Foods	$	1,023		$	90		$	112	$	1	$	1,226		12.7	%	10.6	%
2007 Reconciliation
U.S. Beverages	$	(8	)	$	5		$	120	$	—	$	117
U.S. Cheese		93			10			—		—		103
U.S. Convenient Meals		78			9			—		—		87
U.S. Grocery		222			7			—		—		229
U.S. Snacks		183			7			—		—		190
Canada & N.A. Foodservice		134			5			—		—		139
North America	$	702		$	43		$	120	$	—	$	865
Europe		103			24			—		—		127
Developing Markets		158			13			—		—		171
Unrealized G/(L) on Hedging Activities		(6	)		—			—		—		(6	)
Corporate Items		(49	)		—			—		—		(49	)
Kraft Foods	$	908		$	80		$	120	$	—	$	1,108

Kraft Foods Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Information

Operating Income

For the Three Months Ended June 30,

($ in millions) (Unaudited)

														% Change
	As Restated (GAAP)			Asset Impairment, Exit and Implementation Costs - Restructuring		Asset Impairments / Other Expenses - Non-Restructuring		(Gains) / Losses on Divestitures, net			Excluding Items (Non- GAAP)			As Restated (GAAP)		Excluding Items (Non- GAAP)
2008 Reconciliation
U.S. Beverages	$	135		$	8	$	—	$	—		$	143		2.3	%	5.1	%
U.S. Cheese		143			2		—		—			145		37.5	%	(2.0	)%
U.S. Convenient Meals		103			1		—		—			104		9.6	%	5.1	%
U.S. Grocery		306			4		—		—			310		10.9	%	6.5	%
U.S. Snacks		222			3		—		—			225		26.1	%	23.6	%
Canada & N.A. Foodservice		131			29		—		—			160		11.0	%	29.0	%
North America	$	1,040		$	47	$	—	$	—		$	1,087		15.6	%	10.9	%
Europe		109			43		1		74			227		9.0	%	40.1	%
Developing Markets		246			31		—		—			277		57.7	%	69.9	%
Unrealized G/(L) on Hedging Activities		78			—		—		—			78		100.0+	%	100.0+	%
Corporate Items		(50	)		—		—		—			(50	)	(8.7	)%	(8.7	)%
Kraft Foods	$	1,423		$	121	$	1	$	74		$	1,619		27.7	%	28.2	%
2007 Reconciliation
U.S. Beverages	$	132		$	4	$	—	$	—		$	136
U.S. Cheese		104			44		—		—			148
U.S. Convenient Meals		94			5		—		—			99
U.S. Grocery		276			15		—		—			291
U.S. Snacks		176			6		—		—			182
Canada & N.A. Foodservice		118			6		—		—			124
North America	$	900		$	80	$	—	$	—		$	980
Europe		100			62		—		—			162
Developing Markets		156			15		—		(8	)		163
Unrealized G/(L) on Hedging Activities		4			—		—		—			4
Corporate Items		(46	)		—		—		—			(46	)
Kraft Foods	$	1,114		$	157	$	—	$	(8	)	$	1,263

Kraft Foods Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Information

Operating Income

For the Three Months Ended March 31,

($ in millions) (Unaudited)

														% Change
	As Restated (GAAP)			Asset Impairment, Exit and Implementation Costs - Restructuring		Asset Impairments / Other Expenses - Non-Restructuring		(Gains) / Losses on Divestitures, net			Excluding Items (Non- GAAP)			As Restated (GAAP)		Excluding Items (Non- GAAP)
2008 Reconciliation
U.S. Beverages	$	145		$	8	$	—	$	—		$	153		0.0	%	2.7	%
U.S. Cheese		82			12		—		—			94		(45.7	)%	(41.6	)%
U.S. Convenient Meals		93			9		—		—			102		1.1	%	(1.0	)%
U.S. Grocery		239			5		—		—			244		(3.2	)%	(3.6	)%
U.S. Snacks		120			6		—		—			126		(33.0	)%	(27.6	)%
Canada & N.A. Foodservice		107			11		—		—			118		24.4	%	28.3	%
North America	$	786		$	51	$	—	$	—		$	837		(12.7	)%	(10.2	)%
Europe		124			38		3		18			183		29.2	%	37.6	%
Developing Markets		190			9		—		—			199		69.6	%	67.2	%
Unrealized G/(L) on Hedging Activities		25			—		—		—			25		100.0+	%	100.0+	%
Corporate Items		(58	)		—		—		—			(58	)	(13.7	)%	(13.7	)%
Kraft Foods	$	1,067		$	98	$	3	$	18		$	1,186		0.2	%	3.9	%
2007 Reconciliation
U.S. Beverages	$	145		$	4	$	—	$	—		$	149
U.S. Cheese		151			10		—		—			161
U.S. Convenient Meals		92			11		—		—			103
U.S. Grocery		247			6		—		—			253
U.S. Snacks		179			7		—		(12	)		174
Canada & N.A. Foodservice		86			6		—		—			92
North America	$	900		$	44	$	—	$	(12	)	$	932
Europe		96			37		—		—			133
Developing Markets		112			7		—		—			119
Unrealized G/(L) on Hedging Activities		8			—		—		—			8
Corporate Items		(51	)		—		—		—			(51	)
Kraft Foods	$	1,065		$	88	$	—	$	(12	)	$	1,141

Kraft Foods Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Information

Operating Income

For the Twelve Months Ended December 31,

($ in millions) (Unaudited)

														% Change
	As Restated (GAAP)			Asset Impairment, Exit and Implementation Costs - Restructuring		Asset Impairments / Other Expenses - Non-Restructuring		(Gains) / Losses on Divestitures, net			Excluding Items (Non- GAAP)			As Restated (GAAP)		Excluding Items (Non- GAAP)
2007 Reconciliation
U.S. Beverages	$	346		$	17	$	120	$	6		$	489		53.1	%	16.2	%
U.S. Cheese		487			79		—		—			566		(19.4	)%	(18.7	)%
U.S. Convenient Meals		319			33		—		—			352		(9.6	)%	(20.9	)%
U.S. Grocery		1,022			34		—		—			1,056		(18.9	)%	(2.4	)%
U.S. Snacks		716			25		—		(12	)		729		37.4	%	(0.8	)%
Canada & N.A. Foodservice		443			57		—		—			500		1.8	%	4.0	%
North America	$	3,333		$	245	$	120	$	(6	)	$	3,692		(1.9	)%	(4.4	)%
Europe		455			152		10		—			617		(1.5	)%	(2.7	)%
Developing Markets		588			50		—		(8	)		630		20.5	%	8.4	%
Unrealized G/(L) on Hedging Activities		16			—		—		—			16		100.0	%	100.0	%
Corporate Items		(216	)		—		—		—			(216	)	(13.1	)%	(13.1	)%
Kraft Foods	$	4,176		$	447	$	130	$	(14	)	$	4,739		0.4	%	(3.0	)%
2006 Reconciliation
U.S. Beverages	$	226		$	25	$	75	$	95		$	421
U.S. Cheese		604			92		—		—			696
U.S. Convenient Meals		353			92		—		—			445
U.S. Grocery		1,260			49		—		(227	)		1,082
U.S. Snacks		521			40		168		6			735
Canada & N.A. Foodservice		435			37		—		9			481
North America	$	3,399		$	335	$	243	$	(117	)	$	3,860
Europe		462			253		170		(251	)		634
Developing Markets		488			82		11		—			581
Unrealized G/(L) on Hedging Activities		—			—		—		—			—
Corporate Items		(191	)		—		—		—			(191	)
Kraft Foods	$	4,158		$	670	$	424	$	(368	)	$	4,884

Kraft Foods Inc. and Subsidiaries

Consolidated Statements of Earnings

For the Twelve Months Ended December 31, 2008

(in millions, except share data) (Unaudited)

				Restatements
	As Reported			Excise Tax			LIFO			Cost Assignment Methodology Change			Adoption of FAS No. 160			Adoption of FSP EITF 03-6-1		As Restated
Net revenues	$	42,201		$	(269	)	$	—		$	—		$	—		$	—	$	41,932
Cost of sales		28,186			(269	)		(17	)		188			—			—		28,088
Gross profit		14,015			—			17			(188	)		—			—		13,844
Marketing, administration & research costs		9,059			—			—			(188	)		(9	)		—		8,862
Asset impairment and exit costs		1,024			—			—			—			—			—		1,024
Losses / (gains) on divestitures, net		92			—			—			—			—			—		92
Amortization of intangibles		23			—			—			—			—			—		23
Operating income		3,817			—			17			—			9			—		3,843
Interest & other expense, net		1,240			—			—			—			—			—		1,240
Earnings from continuing operations before income taxes		2,577			—			17			—			9			—		2,603
Provision for income taxes		728			—			27			—			—			—		755
Effective tax rate		28.2	%																29.0	%
Earnings from continuing operations		1,849			—			(10	)		—			9			—		1,848
Earnings and gain from discontinued operations, net of income taxes		1,052			—			(7	)		—			—			—		1,045
Net earnings		2,901			—			(17	)		—			9			—		2,893
Noncontrolling interest		—			—			—			—			9			—		9
Net earnings attributable to Kraft Foods	$	2,901		$	—		$	(17	)	$	—		$	—		$	—	$	2,884
Earnings share:
Basic
- Continuing operations	$	1.24																$	1.23
- Discontinued operations		0.71																	0.69
- Noncontrolling interest		—																	—
- Net earnings attributable to Kraft Foods	$	1.95																$	1.92
Diluted
- Continuing operations	$	1.22																$	1.22
- Discontinued operations		0.70																	0.69
- Noncontrolling interest		—																	(0.01	)
- Net earnings attributable to Kraft Foods	$	1.92																$	1.90
Average shares outstanding:
Basic		1,491			—			—			—			—			14		1,505
Diluted		1,510			—			—			—			—			5		1,515

Kraft Foods Inc. and Subsidiaries

Consolidated Statements of Earnings

For the Three Months Ended December 31, 2008

(in millions, except share data) (Unaudited)

				Restatements
	As Reported			Excise Tax			LIFO			Cost Assignment Methodology Change			Adoption of FAS No. 160			Adoption of FSP EITF 03-6-1		As Restated*
Net revenues	$	10,767		$	(86	)	$	—		$	—		$	—		$	—	$	10,681
Cost of sales		7,373			(86	)		(25	)		49			—			—		7,311
Gross profit		3,394			—			25			(49	)		—			—		3,370
Marketing, administration & research costs		2,370			—			—			(49	)		(2	)		—		2,318
Asset impairment and exit costs		718			—			—			—			—			—		718
Losses / (gains) on divestitures, net		(1	)		—			—			—			—			—		(1	)
Amortization of intangibles		5			—			—			—			—			—		5
Operating income		302			—			25			—			2			—		330
Interest & other expense, net		306			—			—			—			—			—		306
Earnings from continuing operations before income taxes		(4	)		—			25			—			2			—		24
Provision for income taxes		(90	)		—			11			—			—			—		(79	)
Effective tax rate		n / m																	n / m
Earnings from continuing operations		86			—			14			—			2			—		103
Earnings and gain from discontinued operations, net of income taxes		77			—			—			—			—			—		77
Net earnings		163			—			14			—			2			—		180
Noncontrolling interest		—			—			—			—			2			—		2
Net earnings attributable to Kraft Foods	$	163		$	—		$	14		$	—		$	—		$	—	$	178
Earnings share:
Basic
- Continuing operations	$	0.06																$	0.07
- Discontinued operations		0.05																	0.05
- Noncontrolling interest		—																	—
- Net earnings attributable to Kraft Foods	$	0.11																$	0.12
Diluted
- Continuing operations	$	0.06																$	0.07
- Discontinued operations		0.05																	0.05
- Noncontrolling interest		—																	—
- Net earnings attributable to Kraft Foods	$	0.11																$	0.12
Average shares outstanding:
Basic		1,460			—			—			—			—			14		1,474
Diluted		1,476			—			—			—			—			5		1,481

* Rows may not add across due to rounding.

Kraft Foods Inc. and Subsidiaries

Consolidated Statements of Earnings

For the Three Months Ended September 30, 2008

(in millions, except share data) (Unaudited)

				Restatements
	As Reported			Excise Tax			LIFO			Cost Assignment Methodology Change			Adoption of FAS No. 160			Adoption of FSP EITF 03-6-1		As Restated*
Net revenues	$	10,462		$	(61	)	$	—		$	—		$	—		$	—	$	10,401
Cost of sales		7,096			(61	)		17			44			—			—		7,096
Gross profit		3,366			—			(17	)		(44	)		—			—		3,305
Marketing, administration & research costs		2,199			—			—			(44	)		(3	)		—		2,151
Asset impairment and exit costs		123			—			—			—			—			—		123
Losses / (gains) on divestitures, net		1			—			—			—			—			—		1
Amortization of intangibles		7			—			—			—			—			—		7
Operating income		1,036			—			(17	)		—			3			—		1,023
Interest & other expense, net		298			—			—			—			—			—		298
Earnings from continuing operations before income taxes		738			—			(17	)		—			3			—		725
Provision for income taxes		192			—			13			—			—			—		205
Effective tax rate		26.0	%																28.3	%
Earnings from continuing operations		546			—			(30	)		—			3			—		520
Earnings and gain from discontinued operations, net of income taxes		852			—			(7	)		—			—			—		845
Net earnings		1,398			—			(37	)		—			3			—		1,365
Noncontrolling interest		—			—			—			—			3			—		3
Net earnings attributable to Kraft Foods	$	1,398		$	—		$	(37	)	$	—		$	—		$	—	$	1,362
Earnings share:
Basic
- Continuing operations	$	0.37																$	0.35
- Discontinued operations		0.58																	0.57
- Noncontrolling interest		—																	(0.01	)
- Net earnings attributable to Kraft Foods	$	0.95																$	0.91
Diluted
- Continuing operations	$	0.36																$	0.35
- Discontinued operations		0.57																	0.56
- Noncontrolling interest		—																	—
- Net earnings attributable to Kraft Foods	$	0.93																$	0.91
Average shares outstanding:
Basic		1,479			—			—			—			—			14		1,493
Diluted		1,496			—			—			—			—			7		1,503

* Rows may not add across due to rounding.

Kraft Foods Inc. and Subsidiaries

Consolidated Statements of Earnings

For the Three Months Ended June 30, 2008

(in millions, except share data) (Unaudited)

				Restatements
	As Reported			Excise Tax			LIFO			Cost Assignment Methodology Change			Adoption of FAS No. 160			Adoption of FSP EITF 03-6-1		As Restated*
Net revenues	$	10,870		$	(66	)	$	—		$	—		$	—		$	—	$	10,804
Cost of sales		6,976			(66	)		(22	)		48			—			—		6,936
Gross profit		3,894			—			22			(48	)		—			—		3,868
Marketing, administration & research costs		2,313			—			—			(48	)		(2	)		—		2,264
Asset impairment and exit costs		103			—			—			—			—			—		103
Losses / (gains) on divestitures, net		74			—			—			—			—			—		74
Amortization of intangibles		4			—			—			—			—			—		4
Operating income		1,400			—			22			—			2			—		1,423
Interest & other expense, net		331			—			—			—			—			—		331
Earnings from continuing operations before income taxes		1,069			—			22			—			2			—		1,092
Provision for income taxes		405			—			9			—			—			—		414
Effective tax rate		37.9	%																37.9	%
Earnings from continuing operations		664			—			13			—			2			—		678
Earnings and gain from discontinued operations, net of income taxes		68			—			1			—			—			—		69
Net earnings		732			—			14			—			2			—		747
Noncontrolling interest		—			—			—			—			2			—		2
Net earnings attributable to Kraft Foods	$	732		$	—		$	14		$	—		$	—		$	—	$	745
Earnings share:
Basic
- Continuing operations	$	0.44																$	0.45
- Discontinued operations		0.05																	0.05
- Noncontrolling interest		—																	(0.01	)
- Net earnings attributable to Kraft Foods	$	0.49																$	0.49
Diluted
- Continuing operations	$	0.44																$	0.44
- Discontinued operations		0.04																	0.05
- Noncontrolling interest		—																	—
- Net earnings attributable to Kraft Foods	$	0.48																$	0.49
Average shares outstanding:
Basic		1,508			—			—			—			—			14		1,522
Diluted		1,524			—			—			—			—			8		1,532

* Rows may not add across due to rounding.

Kraft Foods Inc. and Subsidiaries

Consolidated Statements of Earnings

For the Three Months Ended March 31, 2008

(in millions, except share data) (Unaudited)

				Restatements
	As Reported			Excise Tax			LIFO			Cost Assignment Methodology Change			Adoption of FAS No. 160			Adoption of FSP EITF 03-6-1		As Restated*
Net revenues	$	10,102		$	(56	)	$	—		$	—		$	—		$	—	$	10,046
Cost of sales		6,741			(56	)		13			47			—			—		6,745
Gross profit		3,361			—			(13	)		(47	)		—			—		3,301
Marketing, administration & research costs		2,177			—			—			(47	)		(2	)		—		2,129
Asset impairment and exit costs		80			—			—			—			—			—		80
Losses / (gains) on divestitures, net		18			—			—			—			—			—		18
Amortization of intangibles		7			—			—			—			—			—		7
Operating income		1,079			—			(13	)		—			2			—		1,067
Interest & other expense, net		305			—			—			—			—			—		305
Earnings from continuing operations before income taxes		774			—			(13	)		—			2			—		762
Provision for income taxes		221			—			(6	)		—			—			—		215
Effective tax rate		28.6	%																28.2	%
Earnings from continuing operations		553			—			(7	)		—			2			—		547
Earnings and gain from discontinued operations, net of income taxes		55			—			(1	)		—			—			—		54
Net earnings		608			—			(8	)		—			2			—		601
Noncontrolling interest		—			—			—			—			2			—		2
Net earnings attributable to Kraft Foods	$	608		$	—		$	(8	)	$	—		$	—		$	—	$	599
Earnings share:
Basic
- Continuing operations	$	0.36																$	0.36
- Discontinued operations		0.04																	0.04
- Noncontrolling interest		—																	(0.01	)
- Net earnings attributable to Kraft Foods	$	0.40																$	0.39
Diluted
- Continuing operations	$	0.36																$	0.35
- Discontinued operations		0.04																	0.04
- Noncontrolling interest		—																	—
- Net earnings attributable to Kraft Foods	$	0.40																$	0.39
Average shares outstanding:
Basic		1,518			—			—			—			—			14		1,532
Diluted		1,534			—			—			—			—			8		1,542

* Rows may not add across due to rounding.

Kraft Foods Inc. and Subsidiaries

Consolidated Statements of Earnings

For the Twelve Months Ended December 31, 2007

(in millions, except share data) (Unaudited)

				Restatements
	As Reported			Excise Tax			LIFO			Cost Assignment Methodology Change			Adoption of FAS No. 160			Adoption of FSP EITF 03-6-1		As Restated
Net revenues	$	36,134		$	(276	)	$	—		$	—		$	—		$	—	$	35,858
Cost of sales		24,057			(276	)		(208	)		83			—			—		23,656
Gross profit		12,077			—			208			(83	)		—			—		12,202
Marketing, administration & research costs		7,673			—			—			(83	)		(3	)		—		7,587
Asset impairment and exit costs		440			—			—			—			—			—		440
Losses / (gains) on divestitures, net		(15	)		—			1			—			—			—		(14	)
Amortization of intangibles		13			—			—			—			—			—		13
Operating income		3,966			—			207			—			3			—		4,176
Interest & other expense, net		604			—			—			—			—			—		604
Earnings from continuing operations before income taxes		3,362			—			207			—			3			—		3,572
Provision for income taxes		1,002			—			78			—			—			—		1,080
Effective tax rate		29.8	%																30.2	%
Earnings from continuing operations		2,360			—			129			—			3			—		2,492
Earnings and gain from discontinued operations, net of income taxes		230			—			2			—			—			—		232
Net earnings		2,590			—			131			—			3			—		2,724
Noncontrolling interest		—			—			—			—			3			—		3
Net earnings attributable to Kraft Foods	$	2,590		$	—		$	131		$	—		$	—		$	—	$	2,721
Earnings share:
Basic
- Continuing operations	$	1.50																$	1.57
- Discontinued operations		0.14																	0.15
- Noncontrolling interest		—																	(0.01	)
- Net earnings attributable to Kraft Foods	$	1.64																$	1.71
Diluted
- Continuing operations	$	1.48																$	1.56
- Discontinued operations		0.14																	0.15
- Noncontrolling interest		—																	(0.01	)
- Net earnings attributable to Kraft Foods	$	1.62																$	1.70
Average shares outstanding:
Basic		1,575			—			—			—			—			16		1,591
Diluted		1,594			—			—			—			—			6		1,600

Kraft Foods Inc. and Subsidiaries

Consolidated Statements of Earnings

For the Twelve Months Ended December 31, 2006

(in millions, except share data) (Unaudited)

				Restatements
	As Reported			Excise Tax			LIFO			Cost Assignment Methodology Change			Adoption of FAS No. 160			Adoption of FSP EITF 03-6-1		As Restated
Net revenues	$	33,256		$	(238	)	$	—		$	—		$	—		$	—	$	33,018
Cost of sales		21,344			(238	)		1			83			—			—		21,190
Gross profit		11,912			—			(1	)		(83	)		—			—		11,828
Marketing, administration & research costs		7,120			—			—			(83	)		(5	)		—		7,032
Asset impairment and exit costs		999			—			—			—			—			—		999
Losses / (gains) on divestitures, net		(368	)		—			—			—			—			—		(368	)
Amortization of intangibles		7			—			—			—			—			—		7
Operating income		4,154			—			(1	)		—			5			—		4,158
Interest & other expense, net		510			—			—			—			—			—		510
Earnings from continuing operations before income taxes		3,644			—			(1	)		—			5			—		3,648
Provision for income taxes		816			—			—			—			—			—		816
Effective tax rate		22.4	%																22.4	%
Earnings from continuing operations		2,828			—			(1	)		—			5			—		2,832
Earnings and gain from discontinued operations, net of income taxes		232			—			1			—			—			—		233
Net earnings		3,060			—			—			—			5			—		3,065
Noncontrolling interest		—			—			—			—			5			—		5
Net earnings attributable to Kraft Foods	$	3,060		$	—		$	—		$	—		$	—		$	—	$	3,060
Earnings share:
Basic
- Continuing operations	$	1.72																$	1.71
- Discontinued operations		0.14																	0.14
- Noncontrolling interest		—																	(0.01	)
- Net earnings attributable to Kraft Foods	$	1.86																$	1.84
Diluted
- Continuing operations	$	1.71																$	1.70
- Discontinued operations		0.14																	0.14
- Noncontrolling interest		—																	—
- Net earnings attributable to Kraft Foods	$	1.85																$	1.84
Average shares outstanding:
Basic		1,643			—			—			—			—			16		1,659
Diluted		1,655			—			—			—			—			6		1,661

Kraft Foods Inc. and Subsidiaries

Condensed Consolidated Balance Sheet

At December 31, 2008

($ in millions) (Unaudited)

				Restatements
	As Reported			LIFO			Adoption of FAS No. 160			As Restated
ASSETS
Cash and cash equivalents	$	1,244		$	—		$	—		$	1,244
Receivables, net		4,704			—			—			4,704
Inventories, net		3,729			152			—			3,881
Deferred income taxes		861			(57	)		—			804
Other current assets		828			—			—			828
Total current assets		11,366			95			—			11,461
Property, plant & equipment, net		9,917			—			—			9,917
Goodwill		27,581			—			—			27,581
Intangible assets, net		12,926			—			—			12,926
Prepaid pension assets		56			—			—			56
Other assets		1,232			—			—			1,232
TOTAL ASSETS	$	63,078		$	95		$	—		$	63,173
LIABILITIES
Short-term borrowings	$	897		$	—		$	—		$	897
Current portion of long-term debt		765			—			—			765
Accounts payable		3,373			—			—			3,373
Accrued marketing		1,803			—			—			1,803
Accrued employment costs		951			—			—			951
Other current liabilities		3,255			26			—			3,281
Total current liabilities		11,044			26			—			11,070
Long-term debt		18,589			—			—			18,589
Deferred income taxes		4,064			—			—			4,064
Accrued pension costs		2,367			—			—			2,367
Accrued postretirement health care costs		2,678			—			—			2,678
Other liabilities		2,136			—			(61	)		2,075
TOTAL LIABILITIES		40,878			26			(61	)		40,843
SHAREHOLDERS’ EQUITY
Common stock, no par value		—			—			—			—
Additional paid-in capital		23,563			—			—			23,563
Retained earnings		13,345			69			—			13,414
Accumulated other comprehensive losses		(5,994	)		—			—			(5,994	)
Noncontrolling interest		—			—			61			61
Treasury stock, at cost		(8,714	)		—			—			(8,714	)
TOTAL SHAREHOLDERS’ EQUITY		22,200			69			61			22,330
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	63,078		$	95		$	—		$	63,173

Kraft Foods Inc. and Subsidiaries

Condensed Consolidated Balance Sheet

At December 31, 2007

($ in millions) (Unaudited)

				Restatements
	As Reported			LIFO			Adoption of FAS No. 160			As Restated
ASSETS
Cash and cash equivalents	$	567		$	—		$	—		$	567
Receivables, net		5,197			—			—			5,197
Inventories, net		4,096			142			—			4,238
Deferred income taxes		575			(3	)		—			572
Other current assets		302			—			—			302
Total current assets		10,737			139			—			10,876
Property, plant & equipment, net		10,778			—			—			10,778
Goodwill		31,193			—			—			31,193
Intangible assets, net		12,200			—			—			12,200
Prepaid pension assets		1,648			—			—			1,648
Other assets		1,437			—			—			1,437
TOTAL ASSETS	$	67,993		$	139		$	—		$	68,132
LIABILITIES
Short-term borrowings	$	7,385		$	—		$	—		$	7,385
Current portion of long-term debt		722			—			—			722
Accounts payable		4,065			—			—			4,065
Accrued marketing		1,833			—			—			1,833
Accrued employment costs		913			—			—			913
Other current liabilities		2,168			53			—			2,221
Total current liabilities		17,086			53			—			17,139
Long-term debt		12,902			—			—			12,902
Deferred income taxes		4,876			—			—			4,876
Accrued pension costs		810			—			—			810
Accrued postretirement health care costs		2,846			—			—			2,846
Other liabilities		2,178			—			(38	)		2,140
TOTAL LIABILITIES		40,698			53			(38	)		40,713
SHAREHOLDERS’ EQUITY
Common stock, no par value		—			—			—			—
Additional paid-in capital		23,445			—			—			23,445
Retained earnings		12,209			86			—			12,295
Accumulated other comprehensive losses		(1,835	)		—			—			(1,835	)
Noncontrolling interest		—			—			38			38
Treasury stock, at cost		(6,524	)		—			—			(6,524	)
TOTAL SHAREHOLDERS’ EQUITY		27,295			86			38			27,419
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	67,993		$	139		$	—		$	68,132

Kraft Foods Inc. and Subsidiaries

Condensed Consolidated Balance Sheet

At December 31, 2006

($ in millions) (Unaudited)

				Restatements
	As Reported			LIFO			Adoption of FAS No. 160			As Restated
ASSETS
Cash and cash equivalents	$	239		$	—		$	—		$	239
Receivables, net		3,869			—			—			3,869
Inventories, net		3,506			(70	)		—			3,436
Deferred income taxes		387			44			—			431
Other current assets		253			—			—			253
Total current assets		8,254			(26	)		—			8,228
Property, plant & equipment, net		9,693			—			—			9,693
Goodwill		25,553			—			—			25,553
Intangible assets, net		10,177			—			—			10,177
Prepaid pension assets		1,168			—			—			1,168
Other assets		729			—			—			729
TOTAL ASSETS	$	55,574		$	(26	)	$	—		$	55,548
LIABILITIES
Short-term borrowings	$	1,715		$	—		$	—		$	1,715
Current portion of long-term debt		1,418			—			—			1,418
Due to Altria Group, Inc. and affiliates		607			—			—			607
Accounts payable		2,602			—			—			2,602
Accrued marketing		1,626			—			—			1,626
Accrued employment costs		750			—			—			750
Other current liabilities		1,755			19			—			1,774
Total current liabilities		10,473			19			—			10,492
Long-term debt		7,081			—			—			7,081
Deferred income taxes		3,930			—			—			3,930
Accrued pension costs		1,022			—			—			1,022
Accrued postretirement health care costs		3,014			—			—			3,014
Other liabilities	��	1,499			—			(26	)		1,473
TOTAL LIABILITIES		27,019			19			(26	)		27,012
SHAREHOLDERS’ EQUITY
Common stock, no par value		—			—			—			—
Additional paid-in capital		23,626			—			—			23,626
Retained earnings		11,128			(45	)		—			11,083
Accumulated other comprehensive losses		(3,069	)		—			—			(3,069	)
Noncontrolling interest		—			—			26			26
Treasury stock, at cost		(3,130	)		—			—			(3,130	)
TOTAL SHAREHOLDERS’ EQUITY		28,555			(45	)		26			28,536
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	55,574		$	(26	)	$	—		$	55,548