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| | For the Twelve Months Ended December 31, 2019 | |
| | Operating Income | | | Benefit plan non- service expense / (income) | | | Interest and other expense, net | | | Earnings before income taxes | | | Income taxes (1) | | | Effective tax rate | | | Loss on equity method investment transactions | | | Equity method investment net losses / (earnings) | | | Non- controlling interest earnings | | | Net Earnings attributable to Mondelēz International | | | Diluted EPS attributable to Mondelēz International | |
Reported (GAAP) | | $ | 3,843 | | | $ | (60 | ) | | $ | 456 | | | $ | 3,447 | | | $ | 2 | | | | 0.1 | % | | $ | 2 | | | $ | (501 | ) | | $ | 15 | | | $ | 3,929 | | | $ | 2.69 | |
Simplify to Grow Program | | | 442 | | | | (6 | ) | | | — | | | | 448 | | | | 103 | | | | | | | | — | | | | — | | | | — | | | | 345 | | | | 0.24 | |
Intangible asset impairment charges | | | 57 | | | | — | | | | — | | | | 57 | | | | 14 | | | | | | | | — | | | | — | | | | — | | | | 43 | | | | 0.03 | |
Mark-to-market (gains)/losses from derivatives | | | (91 | ) | | | — | | | | (1 | ) | | | (90 | ) | | | (19 | ) | | | | | | | — | | | | — | | | | — | | | | (71 | ) | | | (0.05 | ) |
Acquisition-related costs | | | 3 | | | | — | | | | — | | | | 3 | | | | 1 | | | | | | | | — | | | | — | | | | — | | | | 2 | | | | — | |
Divestiture-related costs | | | 6 | | | | — | | | | — | | | | 6 | | | | — | | | | | | | | — | | | | — | | | | — | | | | 6 | | | | — | |
Net earnings from divestitures | | | (9 | ) | | | — | | | | — | | | | (9 | ) | | | (2 | ) | | | | | | | — | | | | 40 | | | | — | | | | (47 | ) | | | (0.03 | ) |
Gain on divestitures | | | (44 | ) | | | — | | | | — | | | | (44 | ) | | | (3 | ) | | | | | | | — | | | | — | | | | — | | | | (41 | ) | | | (0.03 | ) |
Remeasurement of net monetary position | | | (4 | ) | | | — | | | | — | | | | (4 | ) | | | — | | | | | | | | — | | | | — | | | | — | | | | (4 | ) | | | — | |
Impact from pension participation changes | | | (35 | ) | | | — | | | | (6 | ) | | | (29 | ) | | | (8 | ) | | | | | | | — | | | | — | | | | — | | | | (21 | ) | | | (0.02 | ) |
Impact from resolution of tax matters | | | 85 | | | | — | | | | — | | | | 85 | | | | 21 | | | | | | | | — | | | | — | | | | — | | | | 64 | | | | 0.05 | |
CEO transition remuneration | | | 9 | | | | — | | | | — | | | | 9 | | | | — | | | | | | | | — | | | | — | | | | — | | | | 9 | | | | 0.01 | |
Loss related to interest rate swaps | | | — | | | | — | | | | (111 | ) | | | 111 | | | | — | | | | | | | | — | | | | — | | | | — | | | | 111 | | | | 0.08 | |
Swiss tax reform net impacts | | | 2 | | | | — | | | | — | | | | 2 | | | | 769 | | | | | | | | — | | | | — | | | | — | | | | (767 | ) | | | (0.53 | ) |
U.S. tax reform discrete net tax (benefit)/expense | | | — | | | | — | | | | — | | | | — | | | | (5 | ) | | | | | | | — | | | | — | | | | — | | | | 5 | | | | — | |
Loss on equity method investment transactions | | | — | | | | — | | | | — | | | | — | | | | (6 | ) | | | | | | | (2 | ) | | | — | | | | — | | | | 8 | | | | 0.01 | |
Equity method investee items | | | — | | | | — | | | | — | | | | — | | | | 11 | | | | | | | | — | | | | (55 | ) | | | — | | | | 44 | | | | 0.03 | |
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Adjusted (Non-GAAP) | | $ | 4,264 | | | $ | (66 | ) | | $ | 338 | | | $ | 3,992 | | | $ | 878 | | | | 22.0 | % | | $ | — | | | $ | (516 | ) | | $ | 15 | | | $ | 3,615 | | | $ | 2.48 | |
Net earnings from divestitures - KDP | | | — | | | | — | | | | — | | | | — | | | | (5 | ) | | | | | | | — | | | | 22 | | | | — | | | | (17 | ) | | | (0.02 | ) |
Change in equity method investee items | | | — | | | | — | | | | — | | | | — | | | | (2 | ) | | | | | | | — | | | | 7 | | | | — | | | | (5 | ) | | | — | |
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Adjusted (Non-GAAP) - As Recast | | $ | 4,264 | | | $ | (66 | ) | | $ | 338 | | | $ | 3,992 | | | $ | 871 | | | | 21.8 | % | | $ | — | | | $ | (487 | ) | | $ | 15 | | | $ | 3,593 | | | $ | 2.46 | |
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Currency | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 220 | | | | 0.16 | |
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Adjusted @ Constant FX (Non-GAAP) - As Recast | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | $ | 3,813 | | | $ | 2.62 | |
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Diluted Average Shares Outstanding | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 1,458 | |
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| | For the Twelve Months Ended December 31, 2018 | |
| | Operating Income | | | Benefit plan non- service expense / (income) | | | Interest and other expense, net | | | Earnings before income taxes | | | Income taxes (1) | | | Effective tax rate | | | Gain on equity method investment transactions | | | Equity method investment net losses / (earnings) | | | Non- controlling interest earnings | | | Net Earnings attributable to Mondelēz International | | | Diluted EPS attributable to Mondelēz International | |
Reported (GAAP) | | $ | 3,312 | | | $ | (50 | ) | | $ | 520 | | | $ | 2,842 | | | $ | 773 | | | | 27.2 | % | | $ | (778 | ) | | $ | (484 | ) | | $ | 14 | | | $ | 3,317 | | | $ | 2.23 | |
Simplify to Grow Program | | | 626 | | | | (5 | ) | | | — | | | | 631 | | | | 156 | | | | | | | | — | | | | — | | | | — | | | | 475 | | | | 0.32 | |
Intangible asset impairment charges | | | 68 | | | | — | | | | — | | | | 68 | | | | 16 | | | | | | | | — | | | | — | | | | — | | | | 52 | | | | 0.03 | |
Mark-to-market (gains)/losses from derivatives | | | (141 | ) | | | — | | | | 1 | | | | (142 | ) | | | (10 | ) | | | | | | | — | | | | — | | | | — | | | | (132 | ) | | | (0.09 | ) |
Acquisition integration costs | | | 3 | | | | — | | | | — | | | | 3 | | | | — | | | | | | | | — | | | | — | | | | — | | | | 3 | | | | — | |
Acquisition-related costs | | | 13 | | | | — | | | | — | | | | 13 | | | | 3 | | | | | | | | — | | | | — | | | | — | | | | 10 | | | | 0.01 | |
Divestiture-related costs | | | (1 | ) | | | — | | | | — | | | | (1 | ) | | | (2 | ) | | | | | | | — | | | | — | | | | — | | | | 1 | | | | — | |
Net earnings from divestitures | | | (19 | ) | | | — | | | | — | | | | (19 | ) | | | (2 | ) | | | | | | | — | | | | 30 | | | | — | | | | (47 | ) | | | (0.03 | ) |
Remeasurement of net monetary position | | | 11 | | | | — | | | | — | | | | 11 | | | | — | | | | | | | | — | | | | — | | | | — | | | | 11 | | | | 0.01 | |
Impact from pension participation changes | | | 423 | | | | — | | | | (6 | ) | | | 429 | | | | 108 | | | | | | | | — | | | | — | | | | — | | | | 321 | | | | 0.22 | |
Impact from resolution of tax matters | | | (15 | ) | | | — | | | | (4 | ) | | | (11 | ) | | | 6 | | | | | | | | — | | | | — | | | | — | | | | (17 | ) | | | (0.01 | ) |
CEO transition remuneration | | | 22 | | | | — | | | | — | | | | 22 | | | | 5 | | | | | | | | — | | | | — | | | | — | | | | 17 | | | | 0.01 | |
Gain related to interest rate swaps | | | — | | | | — | | | | 10 | | | | (10 | ) | | | (2 | ) | | | | | | | — | | | | — | | | | — | | | | (8 | ) | | | (0.01 | ) |
Loss on debt extinguishment and related expenses | | | — | | | | — | | | | (140 | ) | | | 140 | | | | 35 | | | | | | | | — | | | | — | | | | — | | | | 105 | | | | 0.07 | |
U.S. tax reform discrete net tax (benefit)/expense | | | — | | | | — | | | | — | | | | — | | | | (19 | ) | | | | | | | — | | | | — | | | | — | | | | 19 | | | | 0.01 | |
Gain on equity method investment transactions | | | — | | | | — | | | | — | | | | — | | | | (192 | ) | | | | | | | 778 | | | | — | | | | — | | | | (586 | ) | | | (0.39 | ) |
Equity method investee items | | | — | | | | — | | | | — | | | | — | | | | (16 | ) | | | | | | | — | | | | 41 | | | | — | | | | (25 | ) | | | (0.01 | ) |
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Adjusted (Non-GAAP) | | $ | 4,302 | | | $ | (55 | ) | | $ | 381 | | | $ | 3,976 | | | $ | 859 | | | | 21.6 | % | | $ | — | | | $ | (413 | ) | | $ | 14 | | | $ | 3,516 | | | $ | 2.37 | |
Net earnings from divestitures - KDP | | | — | | | | — | | | | — | | | | — | | | | (7 | ) | | | | | | | — | | | | 29 | | | | — | | | | (22 | ) | | | (0.01 | ) |
Change in equity method investee items | | | — | | | | — | | | | — | | | | — | | | | 1 | | | | | | | | — | | | | (9 | ) | | | — | | | | 8 | | | | — | |
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Adjusted (Non-GAAP) - As Recast | | $ | 4,302 | | | $ | (55 | ) | | $ | 381 | | | $ | 3,976 | | | $ | 853 | | | | 21.5 | % | | $ | — | | | $ | (393 | ) | | $ | 14 | | | $ | 3,502 | | | $ | 2.36 | |
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Diluted Average Shares Outstanding | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 1,486 | |