Enhanced Investments - Financial Portal

Published: 2022-10-11 16:11:44 ET

EX-99.1 2 d251904dex991.htm EX-99.1 EX-99.1

Exhibit 99.1

U.S. GAAP to Non-GAAP Reconciliations

In addition to reporting our U.S. GAAP operating results, we have historically reported non-GAAP financial information. Refer also to our Quarterly Reports on Form 10-Q and our Annual Report on Form 10-K for the periods presented for additional information on our GAAP to non-GAAP adjustments.

Schedule 1.a

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Net Revenues

(in millions of U.S. dollars)

(Unaudited)


	Latin America			AMEA			Europe			North America			Mondelēz International			Emerging Markets			Developed Markets
For the Six Months Ended June 30, 2022
Reported (GAAP)	$	1,702		$	3,402		$	5,561		$	4,373		$	15,038		$	5,770		$	9,268
Acquisitions		—			(15	)		(373	)		(16	)		(404	)		(251	)		(153	)
Currency		29			142			538			8			717			277			440

Organic (Non-GAAP)	$	1,731		$	3,529		$	5,726		$	4,365		$	15,351		$	5,796		$	9,555
Divestiture - Argentina business		(15	)		—			—			—			(15	)		(15	)		—
Divestiture - KHC license		(6	)		—			—			—			(6	)		(6	)		—
Currency Impact of divestiture		(2	)		—			—			—			(2	)		(2	)		—

Organic (Non-GAAP) - As Recast	$	1,708		$	3,529		$	5,726		$	4,365		$	15,328		$	5,773		$	9,555

For the Six Months Ended June 30, 2021
Reported (GAAP)	$	1,338		$	3,197		$	5,321		$	4,024		$	13,880		$	4,856		$	9,024
Divestitures		—			(14	)		—			—			(14	)		—			(14	)

Organic (Non-GAAP)	$	1,338		$	3,183		$	5,321		$	4,024		$	13,866		$	4,856		$	9,010
Divestiture - Argentina business		(12	)		—			—			—			(12	)		(12	)		—
Divestiture - KHC license		(5	)		—			—			—			(5	)		(5	)		—

Organic (Non-GAAP) - As Recast	$	1,321		$	3,183		$	5,321		$	4,024		$	13,849		$	4,839		$	9,010

% Change
Reported (GAAP)		27.2	%		6.4	%		4.5	%		8.7	%		8.3	%		18.8	%		2.7	%
Organic (Non-GAAP)		29.4	%		10.9	%		7.6	%		8.5	%		10.7	%		19.4	%		6.0	%
Organic (Non-GAAP) - As Recast		29.3	%		10.9	%		7.6	%		8.5	%		10.7	%		19.3	%		6.0	%

Schedule 1.b

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Net Revenues

(in millions of U.S. dollars)

(Unaudited)


	Latin America			AMEA			Europe			North America			Mondelēz International			Emerging Markets			Developed Markets
For the Three Months Ended June 30, 2022
Reported (GAAP)	$	876		$	1,535		$	2,626		$	2,237		$	7,274		$	2,806		$	4,468
Acquisitions		—			—			(189	)		(9	)		(198	)		(135	)		(63	)
Currency		14			93			303			8			418			138			280

Organic (Non-GAAP)	$	890		$	1,628		$	2,740		$	2,236		$	7,494		$	2,809		$	4,685
Divestiture - Argentina business		(9	)		—			—			—			(9	)		(9	)		—
Divestiture - KHC license		(3	)		—			—			—			(3	)		(3	)		—
Currency Impact of divestiture		(1	)		—			—			—			(1	)		(1	)		—

Organic (Non-GAAP) - As Recast	$	877		$	1,628		$	2,740		$	2,236		$	7,481		$	2,796		$	4,685

For the Three Months Ended June 30, 2021
Reported (GAAP)	$	669		$	1,452		$	2,474		$	2,047		$	6,642		$	2,293		$	4,349
Divestitures		—			(14	)		—			—			(14	)		—			(14	)

Organic (Non-GAAP)	$	669		$	1,438		$	2,474		$	2,047		$	6,628		$	2,293		$	4,335
Divestiture - Argentina business		(7	)		—			—			—			(7	)		(7	)		—
Divestiture - KHC license		(2	)		—			—			—			(2	)		(2	)		—

Organic (Non-GAAP) - As Recast	$	660		$	1,438		$	2,474		$	2,047		$	6,619		$	2,284		$	4,335

% Change
Reported (GAAP)		30.9	%		5.7	%		6.1	%		9.3	%		9.5	%		22.4	%		2.7	%
Organic (Non-GAAP)		33.0	%		13.2	%		10.8	%		9.2	%		13.1	%		22.5	%		8.1	%
Organic (Non-GAAP) - As Recast		32.9	%		13.2	%		10.8	%		9.2	%		13.0	%		22.4	%		8.1	%

Schedule 1.c

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Net Revenues

(in millions of U.S. dollars)

(Unaudited)


	Latin America			AMEA			Europe			North America			Mondelēz International			Emerging Markets			Developed Markets
For the Three Months Ended March 31, 2022
Reported (GAAP)	$	826		$	1,867		$	2,935		$	2,136		$	7,764		$	2,964		$	4,800
Acquisitions		—			(15	)		(184	)		(7	)		(206	)		(116	)		(90	)
Currency		15			49			235			—			299			139			160

Organic (Non-GAAP)	$	841		$	1,901		$	2,986		$	2,129		$	7,857		$	2,987		$	4,870
Divestiture - Argentina business		(6	)		—			—			—			(6	)		(6	)		—
Divestiture - KHC license		(3	)		—			—			—			(3	)		(3	)		—
Currency Impact of divestiture		(1	)		—			—			—			(1	)		(1	)		—

Organic (Non-GAAP) - As Recast	$	831		$	1,901		$	2,986		$	2,129		$	7,847		$	2,977		$	4,870

For the Three Months Ended March 31, 2021
Reported (GAAP)	$	669		$	1,745		$	2,847		$	1,977		$	7,238		$	2,563		$	4,675
Divestitures		—			—			—			—			—			—			—

Organic (Non-GAAP)	$	669		$	1,745		$	2,847		$	1,977		$	7,238		$	2,563		$	4,675
Divestiture - Argentina business		(5	)		—			—			—			(5	)		(5	)		—
Divestiture - KHC license		(3	)		—			—			—			(3	)		(3	)		—

Organic (Non-GAAP) - As Recast	$	661		$	1,745		$	2,847		$	1,977		$	7,230		$	2,555		$	4,675

% Change
Reported (GAAP)		23.5	%		7.0	%		3.1	%		8.0	%		7.3	%		15.6	%		2.7	%
Organic (Non-GAAP)		25.7	%		8.9	%		4.9	%		7.7	%		8.6	%		16.5	%		4.2	%
Organic (Non-GAAP) - As Recast		25.7	%		8.9	%		4.9	%		7.7	%		8.5	%		16.5	%		4.2	%

Schedule 1.d

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Net Revenues

(in millions of U.S. dollars)

(Unaudited)


	Latin America			AMEA			Europe			North America			Mondelēz International			Emerging Markets			Developed Markets
For the Twelve Months Ended December 31, 2021
Reported (GAAP)	$	2,797		$	6,465		$	11,156		$	8,302		$	28,720		$	10,132		$	18,588
Divestitures		—			(35	)		—			—			(35	)		—			(35	)
Acquisitions		—			(47	)		(63	)		(144	)		(254	)		—			(254	)
Currency		186			(222	)		(376	)		(50	)		(462	)		74			(536	)

Organic (Non-GAAP)	$	2,983		$	6,161		$	10,717		$	8,108		$	27,969		$	10,206		$	17,763
Divestiture - Argentina business		(34	)		—			—			—			(34	)		(34	)		—
Divestiture - KHC license		(9	)		—			—			—			(9	)		(9	)		—
Currency Impact of divestiture		(10	)		—			—			—			(10	)		(10	)		—

Organic (Non-GAAP) - As Recast	$	2,930		$	6,161		$	10,717		$	8,108		$	27,916		$	10,153		$	17,763

For the Twelve Months Ended December 31, 2020
Reported (GAAP)	$	2,477		$	5,740		$	10,207		$	8,157		$	26,581		$	9,097		$	17,484
Divestitures		—			—			—			—			—			—			—

Organic (Non-GAAP)	$	2,477		$	5,740		$	10,207		$	8,157		$	26,581		$	9,097		$	17,484
Divestiture - Argentina business		(23	)		—			—			—			(23	)		(23	)		—
Divestiture - KHC license		(9	)		—			—			—			(9	)		(9	)		—

Organic (Non-GAAP) - As Recast	$	2,445		$	5,740		$	10,207		$	8,157		$	26,549		$	9,065		$	17,484

% Change
Reported (GAAP)		12.9	%		12.6	%		9.3	%		1.8	%		8.0	%		11.4	%		6.3	%
Organic (Non-GAAP)		20.4	%		7.3	%		5.0	%		(0.6	)%		5.2	%		12.2	%		1.6	%
Organic (Non-GAAP) - As Recast		19.8	%		7.3	%		5.0	%		(0.6	)%		5.1	%		12.0	%		1.6	%

Schedule 1.e

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Net Revenues

(in millions of U.S. dollars)

(Unaudited)


	Latin America			AMEA			Europe			North America			Mondelēz International			Emerging Markets			Developed Markets
For the Three Months Ended December 31, 2021
Reported (GAAP)	$	708		$	1,639		$	3,121		$	2,190		$	7,658		$	2,692		$	4,966
Divestitures		—			(5	)		—			—			(5	)		—			(5	)
Acquisitions		—			(21	)		(22	)		(11	)		(54	)		—			(54	)
Currency		46			7			51			(8	)		96			56			40

Organic (Non-GAAP)	$	754		$	1,620		$	3,150		$	2,171		$	7,695		$	2,748		$	4,947
Divestiture - Argentina business		(13	)		—			—			—			(13	)		(13	)		—
Divestiture - KHC license		(2	)		—			—			—			(2	)		(2	)		—
Currency Impact of divestiture		(3	)		—			—			—			(3	)		(3	)		—

Organic (Non-GAAP) - As Recast	$	736		$	1,620		$	3,150		$	2,171		$	7,677		$	2,730		$	4,947

For the Three Months Ended December 31, 2020
Reported (GAAP)	$	630		$	1,531		$	2,959		$	2,178		$	7,298		$	2,474		$	4,824
Divestitures		—			—			—			—			—			—			—

Organic (Non-GAAP)	$	630		$	1,531		$	2,959		$	2,178		$	7,298		$	2,474		$	4,824
Divestiture - Argentina business		(8	)		—			—			—			(8	)		(8	)		—
Divestiture - KHC license		(2	)		—			—			—			(2	)		(2	)		—

Organic (Non-GAAP) - As Recast	$	620		$	1,531		$	2,959		$	2,178		$	7,288		$	2,464		$	4,824

% Change
Reported (GAAP)		12.4	%		7.1	%		5.5	%		0.6	%		4.9	%		8.8	%		2.9	%
Organic (Non-GAAP)		19.7	%		5.8	%		6.5	%		(0.3	)%		5.4	%		11.1	%		2.5	%
Organic (Non-GAAP) - As Recast		18.7	%		5.8	%		6.5	%		(0.3	)%		5.3	%		10.8	%		2.5	%

Schedule 1.f

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Net Revenues

(in millions of U.S. dollars)

(Unaudited)


	Latin America			AMEA			Europe			North America			Mondelēz International			Emerging Markets			Developed Markets
For the Three Months Ended September 30, 2021
Reported (GAAP)	$	751		$	1,629		$	2,714		$	2,088		$	7,182		$	2,584		$	4,598
Divestitures		—			(16	)		—			—			(16	)		—			(16	)
Acquisitions		—			(15	)		(20	)		(11	)		(46	)		—			(46	)
Currency		17			(44	)		(51	)		(11	)		(89	)		(16	)		(73	)

Organic (Non-GAAP)	$	768		$	1,554		$	2,643		$	2,066		$	7,031		$	2,568		$	4,463
Divestiture - Argentina business		(9	)		—			—			—			(9	)		(9	)		—
Divestiture - KHC license		(2	)		—			—			—			(2	)		(2	)		—
Currency Impact of divestiture		(3	)		—			—			—			(3	)		(3	)		—

Organic (Non-GAAP) - As Recast	$	754		$	1,554		$	2,643		$	2,066		$	7,017		$	2,554		$	4,463

For the Three Months Ended September 30, 2020
Reported (GAAP)	$	610		$	1,470		$	2,526		$	2,059		$	6,665		$	2,289		$	4,376
Divestitures		—			—			—			—			—			—			—

Organic (Non-GAAP)	$	610		$	1,470		$	2,526		$	2,059		$	6,665		$	2,289		$	4,376
Divestiture - Argentina business		(8	)		—			—			—			(8	)		(8	)		—
Divestiture - KHC license		(2	)		—			—			—			(2	)		(2	)		—

Organic (Non-GAAP) - As Recast	$	600		$	1,470		$	2,526		$	2,059		$	6,655		$	2,279		$	4,376

% Change
Reported (GAAP)		23.1	%		10.8	%		7.4	%		1.4	%		7.8	%		12.9	%		5.1	%
Organic (Non-GAAP)		25.9	%		5.7	%		4.6	%		0.3	%		5.5	%		12.2	%		2.0	%
Organic (Non-GAAP) - As Recast		25.7	%		5.7	%		4.6	%		0.3	%		5.4	%		12.1	%		2.0	%

Schedule 1.g

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Net Revenues

(in millions of U.S. dollars)

(Unaudited)


	Latin America			AMEA			Europe			North America			Mondelēz International			Emerging Markets			Developed Markets
For the Three Months Ended June 30, 2021
Reported (GAAP)	$	669		$	1,452		$	2,474		$	2,047		$	6,642		$	2,293		$	4,349
Divestitures		—			(14	)		—			—			(14	)		—			(14	)
Acquisitions		—			(11	)		(21	)		(8	)		(40	)		—			(40	)
Currency		14			(104	)		(199	)		(20	)		(309	)		(60	)		(249	)

Organic (Non-GAAP)	$	683		$	1,323		$	2,254		$	2,019		$	6,279		$	2,233		$	4,046
Divestiture - Argentina business		(7	)		—			—			—			(7	)		(7	)		—
Divestiture - KHC license		(2	)		—			—			—			(2	)		(2	)		—
Currency Impact of divestiture		(2	)		—			—			—			(2	)		(2	)		—

Organic (Non-GAAP) - As Recast	$	672		$	1,323		$	2,254		$	2,019		$	6,268		$	2,222		$	4,046

For the Three Months Ended June 30, 2020
Reported (GAAP)	$	511		$	1,237		$	2,138		$	2,025		$	5,911		$	1,917		$	3,994
Divestitures		—			—			—			—			—			—			—

Organic (Non-GAAP)	$	511		$	1,237		$	2,138		$	2,025		$	5,911		$	1,917		$	3,994
Divestiture - Argentina business		(3	)		—			—			—			(3	)		(3	)		—
Divestiture - KHC license		(2	)		—			—			—			(2	)		(2	)		—

Organic (Non-GAAP) - As Recast	$	506		$	1,237		$	2,138		$	2,025		$	5,906		$	1,912		$	3,994

% Change
Reported (GAAP)		30.9	%		17.4	%		15.7	%		1.1	%		12.4	%		19.6	%		8.9	%
Organic (Non-GAAP)		33.7	%		7.0	%		5.4	%		(0.3	)%		6.2	%		16.5	%		1.3	%
Organic (Non-GAAP) - As Recast		32.8	%		7.0	%		5.4	%		(0.3	)%		6.1	%		16.2	%		1.3	%

Schedule 1.h

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Net Revenues

(in millions of U.S. dollars)

(Unaudited)


	Latin America			AMEA			Europe			North America			Mondelēz International			Emerging Markets			Developed Markets
For the Three Months Ended March 31, 2021
Reported (GAAP)	$	669		$	1,745		$	2,847		$	1,977		$	7,238		$	2,563		$	4,675
Acquisitions		—			—			—			(114	)		(114	)		—			(114	)
Currency		109			(81	)		(177	)		(11	)		(160	)		94			(254	)

Organic (Non-GAAP)	$	778		$	1,664		$	2,670		$	1,852		$	6,964		$	2,657		$	4,307
Divestiture - Argentina business		(5	)		—			—			—			(5	)		(5	)		—
Divestiture - KHC license		(3	)		—			—			—			(3	)		(3	)		—
Currency Impact of divestiture		(2	)		—			—			—			(2	)		(2	)		—

Organic (Non-GAAP) - As Recast	$	768		$	1,664		$	2,670		$	1,852		$	6,954		$	2,647		$	4,307

For the Three Months Ended March 31, 2020
Reported (GAAP)	$	726		$	1,502		$	2,584		$	1,895		$	6,707		$	2,417		$	4,290
Divestitures		—			—			—			—			—			—			—

Organic (Non-GAAP)	$	726		$	1,502		$	2,584		$	1,895		$	6,707		$	2,417		$	4,290
Divestiture - Argentina business		(4	)		—			—			—			(4	)		(4	)		—
Divestiture - KHC license		(3	)		—			—			—			(3	)		(3	)		—

Organic (Non-GAAP) - As Recast	$	719		$	1,502		$	2,584		$	1,895		$	6,700		$	2,410		$	4,290

% Change
Reported (GAAP)		(7.9	)%		16.2	%		10.2	%		4.3	%		7.9	%		6.0	%		9.0	%
Organic (Non-GAAP)		7.2	%		10.8	%		3.3	%		(2.3	)%		3.8	%		9.9	%		0.4	%
Organic (Non-GAAP) - As Recast		6.8	%		10.8	%		3.3	%		(2.3	)%		3.8	%		9.8	%		0.4	%

Schedule 1.i

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Net Revenues

(in millions of U.S. dollars)

(Unaudited)


	Latin America			AMEA			Europe			North America			Mondelēz International			Emerging Markets			Developed Markets
For the Twelve Months Ended December 31, 2020
Reported (GAAP)	$	2,477		$	5,740		$	10,207		$	8,157		$	26,581		$	9,097		$	17,484
Acquisitions		—			—			—			(445	)		(445	)		—			(445	)
Currency		546			70			14			7			637			749			(112	)

Organic (Non-GAAP)	$	3,023		$	5,810		$	10,221		$	7,719		$	26,773		$	9,846		$	16,927
Divestiture - Argentina business		(23	)		—			—			—			(23	)		(23	)		—
Divestiture - KHC license		(9	)		—			—			—			(9	)		(9	)		—
Currency Impact of divestiture		(10	)		—			—			—			(10	)		(10	)		—

Organic (Non-GAAP) - As Recast	$	2,981		$	5,810		$	10,221		$	7,719		$	26,731		$	9,804		$	16,927

For the Twelve Months Ended December 31, 2019
Reported (GAAP)	$	3,018		$	5,770		$	9,972		$	7,108		$	25,868		$	9,675		$	16,193
Divestitures		—			(55	)		—			—			(55	)		(55	)		—

Organic (Non-GAAP)	$	3,018		$	5,715		$	9,972		$	7,108		$	25,813		$	9,620		$	16,193
Divestiture - Argentina business		(26	)		—			—			—			(26	)		(26	)		—
Divestiture - KHC license		(10	)		—			—			—			(10	)		(10	)		—

Organic (Non-GAAP) - As Recast	$	2,982		$	5,715		$	9,972		$	7,108		$	25,777		$	9,584		$	16,193

% Change
Reported (GAAP)		(17.9	)%		(0.5	)%		2.4	%		14.8	%		2.8	%		(6.0	)%		8.0	%
Organic (Non-GAAP)		0.2	%		1.7	%		2.5	%		8.6	%		3.7	%		2.3	%		4.5	%
Organic (Non-GAAP) - As Recast		0.0	%		1.7	%		2.5	%		8.6	%		3.7	%		2.3	%		4.5	%

Schedule 2.a

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Gross Profit / Operating Income

(in millions of U.S. dollars)

(Unaudited)


	For the Six Months Ended June 30, 2022
	Net Revenues			Gross Profit			Gross Profit Margin			Operating Income			Operating Income Margin
Reported (GAAP)	$	15,038		$	5,624			37.4	%	$	2,021			13.4	%
Simplify to Grow Program		—			21						53
Intangible asset impairment charges		—			—						78
Mark-to-market (gains)/losses from derivatives		—			81						82
Acquisition integration costs and contingent consideration adjustments		—			1						69
Acquisition-related costs		—			—						26
Divestiture-related costs		—			2						6
Remeasurement of net monetary position		—			—						15
Incremental costs due to war in Ukraine		—			37						128

Adjusted (Non-GAAP)	$	15,038		$	5,766			38.3	%	$	2,478			16.5	%
Operating income from divestiture - Argentina business		(15	)		(4	)					(5	)
Operating income from divestiture - KHC license		(6	)		1						1

Adjusted (Non-GAAP) - As Recast	$	15,017		$	5,763			38.4	%	$	2,474			16.5	%

Currency					287						154

Adjusted @ Constant FX (Non-GAAP) - As Recast				$	6,050					$	2,628


	For the Six Months Ended June 30, 2021
	Net Revenues			Gross Profit			Gross Profit Margin			Operating Income			Operating Income Margin
Reported (GAAP)	$	13,880		$	5,597			40.3	%	$	2,155			15.5	%
Simplify to Grow Program		—			35						254
Intangible asset impairment charges		—			—						32
Mark-to-market (gains)/losses from derivatives		—			(137	)					(138	)
Acquisition integration costs and contingent consideration adjustments		—			1						3
Acquisition-related costs		—			—						24
Operating income from divestitures		(14	)		(1	)					(2	)
Gain on acquisition		—			—						(9	)
Remeasurement of net monetary position		—			—						8
Impact from pension participation changes		—			19						45
Impact from resolution of tax matters		—			—						(5	)

Adjusted (Non-GAAP)	$	13,866		$	5,514			39.8	%	$	2,367			17.1	%
Operating income from divestiture - Argentina business		(12	)		(2	)					(3	)
Operating income from divestiture - KHC license		(5	)		—						—

Adjusted (Non-GAAP) - As Recast	$	13,849		$	5,512			39.8	%	$	2,364			17.1	%


				Gross Profit						Operating Income
$ Change - Reported (GAAP)				$	27					$	(134	)
$ Change - Adjusted (Non-GAAP)					252						111
$ Change - Adjusted (Non-GAAP) - As Recast					251						110
$ Change - Adjusted @ Constant FX (Non-GAAP) - As Recast					538						264

% Change - Reported (GAAP)					0.5	%					(6.2	)%
% Change - Adjusted (Non-GAAP)					4.6	%					4.7	%
% Change - Adjusted (Non-GAAP) - As Recast					4.6	%					4.7	%
% Change - Adjusted @ Constant FX (Non-GAAP) - As Recast					9.8	%					11.2	%

Schedule 2.b

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Gross Profit / Operating Income

(in millions of U.S. dollars)

(Unaudited)


	For the Three Months Ended June 30, 2022
	Net Revenues			Gross Profit			Gross Profit Margin			Operating Income			Operating Income Margin
Reported (GAAP)	$	7,274		$	2,641			36.3	%	$	927			12.7	%
Simplify to Grow Program		—			11						22
Mark-to-market (gains)/losses from derivatives		—			109						109
Acquisition integration costs and contingent consideration adjustments		—			1						37
Acquisition-related costs		—			—						5
Divestiture-related costs		—			1						5
Remeasurement of net monetary position		—			—						10
Incremental costs due to war in Ukraine		—			(7	)					(15	)

Adjusted (Non-GAAP)	$	7,274		$	2,756			37.9	%	$	1,100			15.1	%
Operating income from divestiture - Argentina business		(9	)		(1	)					(3	)
Operating income from divestiture - KHC license		(3	)		1						—

Adjusted (Non-GAAP) - As Recast	$	7,262		$	2,756			38.0	%	$	1,097			15.1	%

Currency					148						65

Adjusted @ Constant FX (Non-GAAP) - As Recast				$	2,904					$	1,162


	For the Three Months Ended June 30, 2021
	Net Revenues			Gross Profit			Gross Profit Margin			Operating Income			Operating Income Margin
Reported (GAAP)	$	6,642		$	2,631			39.6	%	$	872			13.1	%
Simplify to Grow Program		—			20						132
Intangible asset impairment charges		—			—						32
Mark-to-market (gains)/losses from derivatives		—			(21	)					(20	)
Acquisition integration costs and contingent consideration adjustments		—			1						2
Acquisition-related costs		—			—						17
Operating income from divestitures		(14	)		(1	)					(2	)
Remeasurement of net monetary position		—			—						3
Impact from pension participation changes		—			18						44
Impact from resolution of tax matters		—			—						(5	)

Adjusted (Non-GAAP)	$	6,628		$	2,648			40.0	%	$	1,075			16.2	%
Operating income from divestiture - Argentina business		(7	)		(1	)					(2	)
Operating income from divestiture - KHC license		(2	)		1						—

Adjusted (Non-GAAP) - As Recast	$	6,619		$	2,648			40.0	%	$	1,073			16.2	%


				Gross Profit						Operating Income
$ Change - Reported (GAAP)				$	10					$	55
$ Change - Adjusted (Non-GAAP)					108						25
$ Change - Adjusted (Non-GAAP) - As Recast					108						24
$ Change - Adjusted @ Constant FX (Non-GAAP) - As Recast					256						89

% Change - Reported (GAAP)					0.4	%					6.3	%
% Change - Adjusted (Non-GAAP)					4.1	%					2.3	%
% Change - Adjusted (Non-GAAP) - As Recast					4.1	%					2.2	%
% Change - Adjusted @ Constant FX (Non-GAAP) - As Recast					9.7	%					8.3	%

Schedule 2.c

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Gross Profit / Operating Income

(in millions of U.S. dollars)

(Unaudited)


	For the Three Months Ended March 31, 2022
	Net Revenues			Gross Profit			Gross Profit Margin			Operating Income			Operating Income Margin
Reported (GAAP)	$	7,764		$	2,983			38.4	%	$	1,094			14.1	%
Simplify to Grow Program		—			10						31
Intangible asset impairment charges		—			—						78
Mark-to-market (gains)/losses from derivatives		—			(28	)					(27	)
Acquisition integration costs and contingent consideration adjustments		—			—						32
Acquisition-related costs		—			—						21
Divestiture-related costs		—			1						1
Remeasurement of net monetary position		—			—						5
Incremental costs due to war in Ukraine		—			44						143

Adjusted (Non-GAAP)	$	7,764		$	3,010			38.8	%	$	1,378			17.7	%
Operating income from divestiture - Argentina business		(6	)		(3	)					(2	)
Operating income from divestiture - KHC license		(3	)		—						1

Adjusted (Non-GAAP) - As Recast	$	7,755		$	3,007			38.8	%	$	1,377			17.8	%

Currency					139						89

Adjusted @ Constant FX (Non-GAAP) - As Recast				$	3,146					$	1,466


	For the Three Months Ended March 31, 2021
	Net Revenues			Gross Profit			Gross Profit Margin			Operating Income			Operating Income Margin
Reported (GAAP)	$	7,238		$	2,966			41.0	%	$	1,283			17.7	%
Simplify to Grow Program		—			15						122
Mark-to-market (gains)/losses from derivatives		—			(116	)					(118	)
Acquisition integration costs and contingent consideration adjustments		—			—						1
Acquisition-related costs		—			—						7
Gain on acquisition		—			—						(9	)
Remeasurement of net monetary position		—			—						5
Impact from pension participation changes		—			1						1

Adjusted (Non-GAAP)	$	7,238		$	2,866			39.6	%	$	1,292			17.9	%
Operating income from divestiture - Argentina business		(5	)		(1	)					(1	)
Operating income from divestiture - KHC license		(3	)		(1	)					—

Adjusted (Non-GAAP) - As Recast	$	7,230		$	2,864			39.6	%	$	1,291			17.9	%


				Gross Profit						Operating Income
$ Change - Reported (GAAP)				$	17					$	(189	)
$ Change - Adjusted (Non-GAAP)					144						86
$ Change - Adjusted (Non-GAAP) - As Recast					143						86
$ Change - Adjusted @ Constant FX (Non-GAAP) - As Recast					282						175

% Change - Reported (GAAP)					0.6	%					(14.7	)%
% Change - Adjusted (Non-GAAP)					5.0	%					6.7	%
% Change - Adjusted (Non-GAAP) - As Recast					5.0	%					6.7	%
% Change - Adjusted @ Constant FX (Non-GAAP) - As Recast					9.8	%					13.6	%

Schedule 2.d

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Gross Profit / Operating Income

(in millions of U.S. dollars)

(Unaudited)


	For the Twelve Months Ended December 31, 2021
	Net Revenues			Gross Profit			Gross Profit Margin			Operating Income			Operating Income Margin
Reported (GAAP)	$	28,720		$	11,254			39.2	%	$	4,653			16.2	%
Simplify to Grow Program		—			114						319
Intangible asset impairment charges		—			—						32
Mark-to-market (gains)/losses from derivatives		—			(279	)					(279	)
Acquisition integration costs and contingent consideration adjustments		—			1						(40	)
Acquisition-related costs		—			—						25
Divestiture-related costs		—			—						22
Operating income from divestitures		(35	)		(5	)					(5	)
Net gain on acquisition and divestitures		—			—						(8	)
Operating income from divestiture - Argentina business		—			—						13
Impact from pension participation changes		—			20						48
Impact from resolution of tax matters		—			—						(5	)
Rounding		—			1						—

Adjusted (Non-GAAP)	$	28,685		$	11,106			38.7	%	$	4,775			16.6	%
Operating income from divestiture - Argentina business		(34	)		(10	)					(10	)
Operating income from divestiture - KHC license		(9	)		—						—

Adjusted (Non-GAAP) - As Recast	$	28,642		$	11,096			38.7	%	$	4,765			16.6	%

Currency					(210	)					(120	)

Adjusted @ Constant FX (Non-GAAP) - As Recast				$	10,886					$	4,645


	For the Twelve Months Ended December 31, 2020
	Net Revenues			Gross Profit			Gross Profit Margin			Operating Income			Operating Income Margin
Reported (GAAP)	$	26,581		$	10,446			39.3	%	$	3,853			14.5	%
Simplify to Grow Program		—			90						360
Intangible asset impairment charges		—			—						144
Mark-to-market (gains)/losses from derivatives		—			(16	)					(16	)
Acquisition integration costs		—			1						4
Acquisition-related costs		—			—						15
Divestiture-related costs		—			—						4
Costs associated with JDE Peet’s transaction		—			—						48
Remeasurement of net monetary position		—			—						9
Impact from resolution of tax matters		—			—						(20	)

Adjusted (Non-GAAP)	$	26,581		$	10,521			39.6	%	$	4,401			16.6	%
Operating income from divestiture - Argentina business		(23	)		(2	)					(2	)
Operating income from divestiture - KHC license		(9	)		—						—

Adjusted (Non-GAAP) - As Recast	$	26,549		$	10,519			39.6	%	$	4,399			16.6	%


				Gross Profit						Operating Income
$ Change - Reported (GAAP)				$	808					$	800
$ Change - Adjusted (Non-GAAP)					585						374
$ Change - Adjusted (Non-GAAP) - As Recast					577						366
$ Change - Adjusted @ Constant FX (Non-GAAP) - As Recast					367						246

% Change - Reported (GAAP)					7.7	%					20.8	%
% Change - Adjusted (Non-GAAP)					5.6	%					8.5	%
% Change - Adjusted (Non-GAAP) - As Recast					5.5	%					8.3	%
% Change - Adjusted @ Constant FX (Non-GAAP) - As Recast					3.5	%					5.6	%

Schedule 2.e

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Gross Profit / Operating Income

(in millions of U.S. dollars)

(Unaudited)


	For the Three Months Ended December 31, 2021
	Net Revenues			Gross Profit			Gross Profit Margin			Operating Income			Operating Income Margin
Reported (GAAP)	$	7,658		$	2,833			37.0	%	$	1,204			15.7	%
Simplify to Grow Program		—			22						(62	)
Mark-to-market (gains)/losses from derivatives		—			(9	)					(9	)
Acquisition integration costs and contingent consideration adjustments		—			(1	)					14
Acquisition-related costs		—			—						1
Divestiture-related costs		—			—						22
Operating income from divestitures		(5	)		(1	)					—
Loss on divestiture		—			—						1
Remeasurement of net monetary position		—			—						3
Operating income from divestiture - Argentina business		—			—						1
Rounding		—			1						—

Adjusted (Non-GAAP)	$	7,653		$	2,845			37.2	%	$	1,175			15.4	%
Operating income from divestiture - Argentina business		(13	)		(4	)					(4	)
Operating income from divestiture - KHC license		(2	)		(1	)					—

Adjusted (Non-GAAP) - As Recast	$	7,638		$	2,840			37.2	%	$	1,171			15.3	%

Currency					35						10

Adjusted @ Constant FX (Non-GAAP) - As Recast				$	2,875					$	1,181


	For the Three Months Ended December 31, 2020
	Net Revenues			Gross Profit			Gross Profit Margin			Operating Income			Operating Income Margin
Reported (GAAP)	$	7,298		$	2,872			39.4	%	$	1,149			15.7	%
Simplify to Grow Program		—			42						112
Mark-to-market (gains)/losses from derivatives		—			(56	)					(58	)
Acquisition integration costs		—			1						2
Remeasurement of net monetary position		—			—						2
Impact from resolution of tax matters		—			—						(20	)
Rounding		—			—						1

Adjusted (Non-GAAP)	$	7,298		$	2,859			39.2	%	$	1,188			16.3	%
Operating income from divestiture - Argentina business		(8	)		—						—
Operating income from divestiture - KHC license		(2	)		—						1

Adjusted (Non-GAAP) - As Recast	$	7,288		$	2,859			39.2	%	$	1,189			16.3	%


				Gross Profit						Operating Income
$ Change - Reported (GAAP)				$	(39	)				$	55
$ Change - Adjusted (Non-GAAP)					(14	)					(13	)
$ Change - Adjusted (Non-GAAP) - As Recast					(19	)					(18	)
$ Change - Adjusted @ Constant FX (Non-GAAP) - As Recast					16						(8	)

% Change - Reported (GAAP)					(1.4	)%					4.8	%
% Change - Adjusted (Non-GAAP)					(0.5	)%					(1.1	)%
% Change - Adjusted (Non-GAAP) - As Recast					(0.7	)%					(1.5	)%
% Change - Adjusted @ Constant FX (Non-GAAP) - As Recast					0.6	%					(0.7	)%

Schedule 2.f

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Gross Profit / Operating Income

(in millions of U.S. dollars)

(Unaudited)


	For the Three Months Ended September 30, 2021
	Net Revenues			Gross Profit			Gross Profit Margin			Operating Income			Operating Income Margin
Reported (GAAP)	$	7,182		$	2,824			39.3	%	$	1,294			18.0	%
Simplify to Grow Program		—			57						127
Mark-to-market (gains)/losses from derivatives		—			(133	)					(132	)
Acquisition integration costs and contingent consideration adjustments		—			1						(57	)
Operating income from divestitures		(16	)		(3	)					(3	)
Remeasurement of net monetary position		—			—						2
Impact from pension participation changes		—			1						2

Adjusted (Non-GAAP)	$	7,166		$	2,747			38.3	%	$	1,233			17.2	%
Operating income from divestiture - Argentina business		(9	)		(4	)					(3	)
Operating income from divestiture - KHC license		(2	)		1						—

Adjusted (Non-GAAP) - As Recast	$	7,155		$	2,744			38.4	%	$	1,230			17.2	%

Currency					(33	)					(19	)

Adjusted @ Constant FX (Non-GAAP) - As Recast				$	2,711					$	1,211


	For the Three Months Ended September 30, 2020
	Net Revenues			Gross Profit			Gross Profit Margin			Operating Income			Operating Income Margin
Reported (GAAP)	$	6,665		$	2,792			41.9	%	$	1,135			17.0	%
Simplify to Grow Program		—			14						114
Intangible asset impairment charges		—			—						54
Mark-to-market (gains)/losses from derivatives		—			(147	)					(145	)
Divestiture-related costs		—			1						6
Remeasurement of net monetary position		—			—						2
Rounding		—			(1	)					(1	)

Adjusted (Non-GAAP)	$	6,665		$	2,659			39.9	%	$	1,165			17.5	%
Operating income from divestiture - Argentina business		(8	)		(2	)					(2	)
Operating income from divestiture - KHC license		(2	)		1						—

Adjusted (Non-GAAP) -As Recast	$	6,655		$	2,658			39.9	%	$	1,163			17.5	%


				Gross Profit						Operating Income
$ Change - Reported (GAAP)				$	32					$	159
$ Change - Adjusted (Non-GAAP)					88						68
$ Change - Adjusted (Non-GAAP) - As Recast					86						67
$ Change - Adjusted @ Constant FX (Non-GAAP) - As Recast					53						48

% Change - Reported (GAAP)					1.1	%					14.0	%
% Change - Adjusted (Non-GAAP)					3.3	%					5.8	%
% Change - Adjusted (Non-GAAP) - As Recast					3.2	%					5.8	%
% Change - Adjusted @ Constant FX (Non-GAAP) - As Recast					2.0	%					4.1	%

Schedule 2.g

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Gross Profit / Operating Income

(in millions of U.S. dollars)

(Unaudited)


	For the Three Months Ended June 30, 2021
	Net Revenues			Gross Profit			Gross Profit Margin			Operating Income			Operating Income Margin
Reported (GAAP)	$	6,642		$	2,631			39.6	%	$	872			13.1	%
Simplify to Grow Program		—			20						132
Intangible asset impairment charges		—			—						32
Mark-to-market (gains)/losses from derivatives		—			(21	)					(20	)
Acquisition integration costs and contingent consideration adjustments		—			1						2
Acquisition-related costs		—			—						17
Operating income from divestitures		(14	)		(1	)					(2	)
Remeasurement of net monetary position		—			—						3
Impact from pension participation changes		—			18						44
Operating income from divestiture - Argentina business		—			—						(5	)

Adjusted (Non-GAAP)	$	6,628		$	2,648			40.0	%	$	1,075			16.2	%
Operating income from divestiture - Argentina business		(7	)		(1	)					(2	)
Operating income from divestiture - KHC license		(2	)		1						—

Adjusted (Non-GAAP) -As Recast	$	6,619		$	2,648			40.0	%	$	1,073			16.2	%

Currency					(136	)					(67	)

Adjusted @ Constant FX (Non-GAAP) - As Recast				$	2,512					$	1,006


	For the Three Months Ended June 30, 2020
	Net Revenues			Gross Profit			Gross Profit Margin			Operating Income			Operating Income Margin
Reported (GAAP)	$	5,911		$	2,331			39.4	%	$	713			12.1	%
Simplify to Grow Program		—			15						76
Intangible asset impairment charges		—			—						90
Mark-to-market (gains)/losses from derivatives		—			1						2
Acquisition integration costs		—			—						2
Acquisition-related costs		—			—						10
Divestiture-related costs		—			(1	)					(2	)
Costs associated with JDE Peet’s transaction		—			—						48
Remeasurement of net monetary position		—			—						3
Rounding		—			1						—

Adjusted (Non-GAAP)	$	5,911		$	2,347			39.7	%	$	942			15.9	%
Operating income from divestiture - Argentina business		(3	)		1						1
Operating income from divestiture - KHC license		(2	)		1						—

Adjusted (Non-GAAP) - As Recast	$	5,906		$	2,349			39.8	%	$	943			16.0	%


				Gross Profit						Operating Income
$ Change - Reported (GAAP)				$	300					$	159
$ Change - Adjusted (Non-GAAP)					301						133
$ Change - Adjusted (Non-GAAP) - As Recast					299						130
$ Change - Adjusted @ Constant FX (Non-GAAP) - As Recast					163						63

% Change - Reported (GAAP)					12.9	%					22.3	%
% Change - Adjusted (Non-GAAP)					12.8	%					14.1	%
% Change - Adjusted (Non-GAAP) - As Recast					12.7	%					13.8	%
% Change - Adjusted @ Constant FX (Non-GAAP) - As Recast					6.9	%					6.7	%

Schedule 2.h

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Gross Profit / Operating Income

(in millions of U.S. dollars)

(Unaudited)


	For the Three Months Ended March 31, 2021
	Net Revenues			Gross Profit			Gross Profit Margin			Operating Income			Operating Income Margin
Reported (GAAP)	$	7,238		$	2,966			41.0	%	$	1,283			17.7	%
Simplify to Grow Program		—			15						122
Mark-to-market (gains)/losses from derivatives		—			(116	)					(118	)
Acquisition integration costs and contingent consideration adjustments		—			—						1
Acquisition-related costs		—			—						7
Gain on acquisition		—			—						(9	)
Remeasurement of net monetary position		—			—						5
Impact from pension participation changes		—			1						1

Adjusted (Non-GAAP)	$	7,238		$	2,866			39.6	%	$	1,292			17.9	%
Operating income from divestiture - Argentina business		(5	)		(1	)					(1	)
Operating income from divestiture- KHC license		(3	)		(1	)					—

Adjusted (Non-GAAP) - As Recast	$	7,230		$	2,864			39.6	%	$	1,291			17.9	%

Currency					(76	)					(44	)

Adjusted @ Constant FX (Non-GAAP) - As Recast				$	2,788					$	1,247


	For the Three Months Ended March 31, 2020
	Net Revenues			Gross Profit			Gross Profit Margin			Operating Income			Operating Income Margin
Reported (GAAP)	$	6,707		$	2,451			36.5	%	$	856			12.8	%
Simplify to Grow Program		—			19						58
Mark-to-market (gains)/losses from derivatives		—			186						185
Acquisition-related costs		—			—						5
Remeasurement of net monetary position		—			—						2

Adjusted (Non-GAAP)	$	6,707		$	2,656			39.6	%	$	1,106			16.5	%
Operating income from divestiture - Argentina business		(4	)		(1	)					(1	)
Operating income from divestiture - KHC license		(3	)		(2	)					(1	)

Adjusted (Non-GAAP) - As Recast	$	6,700		$	2,653			39.6	%	$	1,104			16.5	%


				Gross Profit						Operating Income
$ Change - Reported (GAAP)				$	515					$	427
$ Change - Adjusted (Non-GAAP)					210						186
$ Change - Adjusted (Non-GAAP) - As Recast					211						187
$ Change - Adjusted @ Constant FX (Non-GAAP) - As Recast					135						143

% Change - Reported (GAAP)					21.0	%					49.9	%
% Change - Adjusted (Non-GAAP)					7.9	%					16.8	%
% Change - Adjusted (Non-GAAP) - As Recast					8.0	%					16.9	%
% Change - Adjusted @ Constant FX (Non-GAAP) - As Recast					5.1	%					13.0	%

Schedule 2.i

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Gross Profit / Operating Income

(in millions of U.S. dollars)

(Unaudited)


	For the Twelve Months Ended December 31, 2020
	Net Revenues			Gross Profit			Gross Profit Margin			Operating Income			Operating Income Margin
Reported (GAAP)	$	26,581		$	10,446			39.3	%	$	3,853			14.5	%
Simplify to Grow Program		—			90						360
Intangible asset impairment charges		—			—						144
Mark-to-market (gains)/losses from derivatives		—			(16	)					(16	)
Acquisition integration costs		—			1						4
Acquisition-related costs		—			—						15
Divestiture-related costs		—			—						4
Costs associated with JDE Peet’s transaction		—			—						48
Remeasurement of net monetary position		—			—						9
Operating income from divestiture - Argentina business		—			—						(20	)

Adjusted (Non-GAAP)	$	26,581		$	10,521			39.6	%	$	4,401			16.6	%
Operating income from divestiture - Argentina business		(23	)		(2	)					(2	)
Operating income from divestiture - KHC license		(9	)		—						—

Adjusted (Non-GAAP) - As Recast	$	26,549		$	10,519			39.6	%	$	4,399			16.6	%

Currency					178						59

Adjusted @ Constant FX (Non-GAAP) - As Recast				$	10,697					$	4,458


	For the Twelve Months Ended December 31, 2019
	Net Revenues			Gross Profit			Gross Profit Margin			Operating Income			Operating Income Margin
Reported (GAAP)	$	25,868		$	10,337			40.0	%	$	3,843			14.9	%
Simplify to Grow Program		—			101						442
Intangible asset impairment charges		—			—						57
Mark-to-market (gains)/losses from derivatives		—			(92	)					(91	)
Acquisition-related costs		—			—						3
Divestiture-related costs		—			1						6
Operating income from divestitures		(55	)		(14	)					(9	)
Net gain on divestiture		—			—						(44	)
Remeasurement of net monetary position		—			—						(4	)
Impact from pension participation changes		—			—						(35	)
Impact from resolution of tax matters		—			—						85
CEO transition remuneration		—			—						9
Swiss tax reform impact		—			—						2

Adjusted (Non-GAAP)	$	25,813		$	10,333			40.0	%	$	4,264			16.5	%
Operating income from divestiture - Argentina business		(26	)		(5	)					(5	)
Operating income from divestiture - KHC license		(10	)		(1	)					(2	)

Adjusted (Non-GAAP) - As Recast	$	25,777		$	10,327			40.1	%	$	4,257			16.5	%


				Gross Profit						Operating Income
$ Change - Reported (GAAP)				$	109					$	10
$ Change - Adjusted (Non-GAAP)					188						137
$ Change - Adjusted (Non-GAAP) - As Recast					192						142
$ Change - Adjusted @ Constant FX (Non-GAAP) - As Recast					370						201

% Change - Reported (GAAP)					1.1	%					0.3	%
% Change - Adjusted (Non-GAAP)					1.8	%					3.2	%
% Change - Adjusted (Non-GAAP) - As Recast					1.9	%					3.3	%
% Change - Adjusted @ Constant FX (Non-GAAP) - As Recast					3.6	%					4.7	%

Schedule 3.a

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Segment Data

(in millions of U.S. dollars)

(Unaudited)


	For the Six Months Ended June 30, 2022
	Latin America			AMEA			Europe			North America			Unrealized G/(L) on Hedging Activities			General Corporate Expenses			Amortization of Intangibles			Other Items			Mondelēz International
Net Revenue
Reported (GAAP)	$	1,702		$	3,402		$	5,561		$	4,373		$	—		$	—		$	—		$	—		$	15,038
Divestitures		—			—			—			—			—			—			—			—			—

Adjusted (Non-GAAP)	$	1,702		$	3,402		$	5,561		$	4,373		$	—		$	—		$	—		$	—		$	15,038
Divestiture - Argentina business		(15	)		—			—			—			—			—			—			—			(15	)
Divestiture - KHC license		(6	)		—			—			—			—			—			—			—			(6	)

Adjusted (Non-GAAP) - As Recast	$	1,681		$	3,402		$	5,561		$	4,373		$	—		$	—		$	—		$	—		$	15,017

Operating Income
Reported (GAAP)	$	193		$	483		$	757		$	872		$	(82	)	$	(112	)	$	(64	)	$	(26	)	$	2,021
Simplify to Grow Program		1			6			15			28			—			3			—			—			53
Intangible asset impairment charges		—			78			—			—			—			—			—			—			78
Mark-to-market (gains)/losses from derivatives		—			—			—			—			82			—			—			—			82
Acquisition integration costs and contingent consideration adjustments		—			—			68			1			—			—			—			—			69
Acquisition-related costs		—			—			—			—			—			—			—			26			26
Divestiture-related costs		2			—			—			—			—			4			—			—			6
Remeasurement of net monetary position		15			—			—			—			—			—			—			—			15
Incremental costs due to war in Ukraine		—			—			128			—			—			—			—			—			128

Adjusted (Non-GAAP)	$	211		$	567		$	968		$	901		$	—		$	(105	)	$	(64	)	$	—		$	2,478
Operating income from divestiture - Argentina business		(5	)		—			—			—			—			—			—			—			(5	)
Operating income from divestiture - KHC license		1			—			—			—			—			—			—			—			1

Adjusted (Non-GAAP) - As Recast	$	207		$	567		$	968		$	901		$	—		$	(105	)	$	(64	)	$	—		$	2,474
Currency		2			29			129			2			—			(6	)		(2	)		—			154

Adjusted @ Constant FX (Non-GAAP) - As Recast	$	209		$	596		$	1,097		$	903		$	—		$	(111	)	$	(66	)	$	—		$	2,628

% Change - Reported (GAAP)		48.5	%		(16.0	)%		(22.0	)%		53.3	%		n/m			21.1	%		8.6	%		n/m			(6.2	)%
% Change - Adjusted (Non-GAAP)		47.6	%		1.4	%		(7.0	)%		9.5	%		n/m			18.6	%		8.6	%		n/m			4.7	%
% Change - Adjusted (Non-GAAP) - As Recast		47.9	%		1.4	%		(7.0	)%		9.5	%		n/m			18.6	%		8.6	%		n/m			4.7	%
% Change - Adjusted @ Constant FX (Non-GAAP) - As Recast		49.3	%		6.6	%		5.4	%		9.7	%		n/m			14.0	%		5.7	%		n/m			11.2	%

Operating Income Margin
Reported %		11.3	%		14.2	%		13.6	%		19.9	%														13.4	%
Reported pp change		1.6	pp		(3.8	)pp		(4.6	)pp		5.8	pp														(2.1	)pp
Adjusted %		12.4	%		16.7	%		17.4	%		20.6	%														16.5	%
Adjusted pp change		1.7	pp		(0.9	)pp		(2.2	)pp		0.1	pp														(0.6	)pp
Adjusted % - As Recast		12.3	%		16.7	%		17.4	%		20.6	%														16.5	%
Adjusted pp change - As Recast		1.7	pp		(0.9	)pp		(2.2	)pp		0.1	pp														(0.6	)pp

	For the Six Months Ended June 30, 2021
	Latin America			AMEA			Europe			North America			Unrealized G/(L) on Hedging Activities			General Corporate Expenses			Amortization of Intangibles			Other Items			Mondelēz International
Net Revenue
Reported (GAAP)	$	1,338		$	3,197		$	5,321		$	4,024		$	—		$	—		$	—		$	—		$	13,880
Divestitures		—			(14	)		—			—			—			—			—			—			(14	)

Adjusted (Non-GAAP)	$	1,338		$	3,183		$	5,321		$	4,024		$	—		$	—		$	—		$	—		$	13,866
Divestiture - Argentina business		(12	)		—			—			—			—			—			—			—			(12	)
Divestiture - KHC license		(5	)		—			—			—			—			—			—			—			(5	)

Adjusted (Non-GAAP) - As Recast	$	1,321		$	3,183		$	5,321		$	4,024		$	—		$	—		$	—		$	—		$	13,849

Operating Income
Reported (GAAP)	$	130		$	575		$	970		$	569		$	138		$	(142	)	$	(70	)	$	(15	)	$	2,155
Simplify to Grow Program		10			(14	)		26			220			—			12			—			—			254
Intangible asset impairment charges		—			—			—			32			—			—			—			—			32
Mark-to-market (gains)/losses from derivatives		—			—			—			—			(138	)		—			—			—			(138	)
Acquisition integration costs and contingent consideration adjustments		—			—			—			2			—			1			—			—			3
Acquisition-related costs		—			—			—			—			—			—			—			24			24
Operating income from divestitures		—			(2	)		—			—			—			—			—			—			(2	)
Gain on acquisition		—			—			—			—			—			—			—			(9	)		(9	)
Remeasurement of net monetary position		8			—			—			—			—			—			—			—			8
Impact from pension participation changes		—			—			45			—			—			—			—			—			45
Impact from resolution of tax matters		(5	)		—			—			—			—			—			—			—			(5	)

Adjusted (Non-GAAP)	$	143		$	559		$	1,041		$	823		$	—		$	(129	)	$	(70	)	$	—		$	2,367
Operating income from divestiture - Argentina business		(3	)		—			—			—			—			—			—			—			(3	)
Operating income from divestiture - KHC license		—			—			—			—			—			—			—			—			—

Adjusted (Non-GAAP) - As Recast	$	140		$	559		$	1,041		$	823		$	—		$	(129	)	$	(70	)	$	—		$	2,364

Operating Income Margin
Reported %		9.7	%		18.0	%		18.2	%		14.1	%														15.5	%
Adjusted %		10.7	%		17.6	%		19.6	%		20.5	%														17.1	%
Adjusted % - As Recast		10.6	%		17.6	%		19.6	%		20.5	%														17.1	%

Schedule 3.b

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Segment Data

(in millions of U.S. dollars)

(Unaudited)


	For the Three Months Ended June 30, 2022
	Latin America			AMEA			Europe			North America			Unrealized G/(L) on Hedging Activities			General Corporate Expenses			Amortization of Intangibles			Other Items			Mondelēz International
Net Revenue
Reported (GAAP)	$	876		$	1,535		$	2,626		$	2,237		$	—		$	—		$	—		$	—		$	7,274
Divestitures		—			—			—			—			—			—			—			—			—

Adjusted (Non-GAAP)	$	876		$	1,535		$	2,626		$	2,237		$	—		$	—		$	—		$	—		$	7,274
Divestiture - Argentina business		(9	)		—			—			—			—			—			—			—			(9	)
Divestiture - KHC license		(3	)		—			—			—			—			—			—			—			(3	)

Adjusted (Non-GAAP) - As Recast	$	864		$	1,535		$	2,626		$	2,237		$	—		$	—		$	—		$	—		$	7,262

Operating Income
Reported (GAAP)	$	90		$	211		$	380		$	454		$	(109	)	$	(62	)	$	(32	)	$	(5	)	$	927
Simplify to Grow Program		1			3			8			13			—			(3	)		—			—			22
Mark-to-market (gains)/losses from derivatives		—			—			—			—			109			—			—			—			109
Acquisition integration costs and contingent consideration adjustments		—			—			36			1			—			—			—			—			37
Acquisition-related costs		—			—			—			—			—			—			—			5			5
Divestiture-related costs		1			—			—			—			—			4			—			—			5
Remeasurement of net monetary position		10			—			—			—			—			—			—			—			10
Incremental costs due to war in Ukraine		—			—			(15	)		—			—			—			—			—			(15	)

Adjusted (Non-GAAP)	$	102		$	214		$	409		$	468		$	—		$	(61	)	$	(32	)	$	—		$	1,100
Operating income from divestiture - Argentina business		(3	)		—			—			—			—			—			—			—			(3	)
Operating income from divestiture - KHC license		—			—			—			—			—			—			—			—			—

Adjusted (Non-GAAP) - As Recast	$	99		$	214		$	409		$	468		$	—		$	(61	)	$	(32	)	$	—		$	1,097
Currency		(4	)		19			52			1			—			(3	)		—			—			65

Adjusted @ Constant FX (Non-GAAP) - As Recast	$	95		$	233		$	461		$	469		$	—		$	(64	)	$	(32	)	$	—		$	1,162

% Change - Reported (GAAP)		66.7	%		(0.9	)%		(8.0	)%		51.8	%		n/m			(20.5	)%		0.0	%		n/m			6.3	%
% Change - Adjusted (Non-GAAP)		82.1	%		(0.9	)%		(12.4	)%		6.1	%		n/m			(16.4	)%		0.0	%		n/m			2.3	%
% Change - Adjusted (Non-GAAP) - As Recast		83.3	%		(0.9	)%		(12.4	)%		6.1	%		n/m			(16.4	)%		0.0	%		n/m			2.2	%
% Change - Adjusted @ Constant FX (Non-GAAP) - As Recast		75.9	%		7.9	%		(1.3	)%		6.3	%		n/m			(12.3	)%		0.0	%		n/m			8.3	%

Operating Income Margin
Reported %		10.3	%		13.7	%		14.5	%		20.3	%														12.7	%
Reported pp change		2.2	pp		(1.0	)pp		(2.2	)pp		5.7	pp														(0.4	)pp
Adjusted %		11.6	%		13.9	%		15.6	%		20.9	%														15.1	%
Adjusted pp change		3.2	pp		(1.1	)pp		(3.3	)pp		(0.6	)pp														(1.1	)pp
Adjusted % - As Recast		11.5	%		13.9	%		15.6	%		20.9	%														15.1	%
Adjusted pp change - As Recast		3.3	pp		(1.1	)pp		(3.3	)pp		(0.6	)pp														(1.1	)pp

	For the Three Months Ended June 30, 2021
	Latin America			AMEA			Europe			North America			Unrealized G/(L) on Hedging Activities			General Corporate Expenses			Amortization of Intangibles			Other Items			Mondelēz International
Net Revenue
Reported (GAAP)	$	669		$	1,452		$	2,474		$	2,047		$	—		$	—		$	—		$	—		$	6,642
Divestitures		—			(14	)		—			—			—			—			—			—			(14	)

Adjusted (Non-GAAP)	$	669		$	1,438		$	2,474		$	2,047		$	—		$	—		$	—		$	—		$	6,628
Divestiture - Argentina business		(7	)		—			—			—			—			—			—			—			(7	)
Divestiture - KHC license		(2	)		—			—			—			—			—			—			—			(2	)

Adjusted (Non-GAAP) - As Recast	$	660		$	1,438		$	2,474		$	2,047		$	—		$	—		$	—		$	—		$	6,619

Operating Income
Reported (GAAP)	$	54		$	213		$	413		$	299		$	20		$	(78	)	$	(32	)	$	(17	)	$	872
Simplify to Grow Program		4			5			10			109			—			4			—			—			132
Intangible asset impairment charges		—			—			—			32			—			—			—			—			32
Mark-to-market (gains)/losses from derivatives		—			—			—			—			(20	)		—			—			—			(20	)
Acquisition integration costs and contingent consideration adjustments		—			—			—			1			—			1			—			—			2
Acquisition-related costs		—			—			—			—			—			—			—			17			17
Operating income from divestitures		—			(2	)		—			—			—			—			—			—			(2	)
Remeasurement of net monetary position		3			—			—			—			—			—			—			—			3
Impact from pension participation changes		—			—			44			—			—			—			—			—			44
Impact from resolution of tax matters		(5	)		—			—			—			—			—			—			—			(5	)

Adjusted (Non-GAAP)	$	56		$	216		$	467		$	441		$	—		$	(73	)	$	(32	)	$	—		$	1,075
Operating income from divestiture - Argentina business		(2	)		—			—			—			—			—			—			—			(2	)
Operating income from divestiture - KHC license		—			—			—			—			—			—			—			—			—

Adjusted (Non-GAAP) - As Recast	$	54		$	216		$	467		$	441		$	—		$	(73	)	$	(32	)	$	—		$	1,073

Operating Income Margin
Reported %		8.1	%		14.7	%		16.7	%		14.6	%														13.1	%
Adjusted %		8.4	%		15.0	%		18.9	%		21.5	%														16.2	%
Adjusted % - As Recast		8.2	%		15.0	%		18.9	%		21.5	%														16.2	%

Schedule 3.c

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Segment Data

(in millions of U.S. dollars)

(Unaudited)


	For the Three Months Ended March 31, 2022
	Latin America			AMEA			Europe			North America			Unrealized G/(L) on Hedging Activities			General Corporate Expenses			Amortization of Intangibles			Other Items			Mondelēz International
Net Revenue
Reported (GAAP)	$	826		$	1,867		$	2,935		$	2,136		$	—		$	—		$	—		$	—		$	7,764
Divestitures		—			—			—			—			—			—			—			—			—

Adjusted (Non-GAAP)	$	826		$	1,867		$	2,935		$	2,136		$	—		$	—		$	—		$	—		$	7,764
Divestiture - Argentina business		(6	)		—			—			—			—			—			—			—			(6	)
Divestiture - KHC license		(3	)		—			—			—			—			—			—			—			(3	)

Adjusted (Non-GAAP) - As Recast	$	817		$	1,867		$	2,935		$	2,136		$	—		$	—		$	—		$	—		$	7,755

Operating Income
Reported (GAAP)	$	103		$	272		$	377		$	418		$	27		$	(50	)	$	(32	)	$	(21	)	$	1,094
Simplify to Grow Program		—			3			7			15			—			6			—			—			31
Intangible asset impairment charges		—			78			—			—			—			—			—			—			78
Mark-to-market (gains)/losses from derivatives		—			—			—			—			(27	)		—			—			—			(27	)
Acquisition integration costs and contingent consideration adjustments		—			—			32			—			—			—			—			—			32
Acquisition-related costs		—			—			—			—			—			—			—			21			21
Divestiture-related costs		1			—			—			—			—			—			—			—			1
Remeasurement of net monetary position		5			—			—			—			—			—			—			—			5
Incremental costs due to war in Ukraine		—			—			143			—			—			—			—			—			143

Adjusted (Non-GAAP)	$	109		$	353		$	559		$	433		$	—		$	(44	)	$	(32	)	$	—		$	1,378
Operating income from divestiture - Argentina business		(2	)		—			—			—			—			—			—			—			(2	)
Operating income from divestiture - KHC license		1			—			—			—			—			—			—			—			1

Adjusted (Non-GAAP) - As Recast	$	108		$	353		$	559		$	433		$	—		$	(44	)	$	(32	)	$	—		$	1,377
Currency		6			10			77			1			—			(3	)		(2	)		—			89

Adjusted @ Constant FX (Non-GAAP) - As Recast	$	114		$	363		$	636		$	434		$	—		$	(47	)	$	(34	)	$	—		$	1,466

% Change - Reported (GAAP)		35.5	%		(24.9	)%		(32.3	)%		54.8	%		n/m			21.9	%		15.8	%		n/m			(14.7	)%
% Change - Adjusted (Non-GAAP)		25.3	%		2.9	%		(2.6	)%		13.4	%		n/m			21.4	%		15.8	%		n/m			6.7	%
% Change - Adjusted (Non-GAAP) - As Recast		25.6	%		2.9	%		(2.6	)%		13.4	%		n/m			21.4	%		15.8	%		n/m			6.7	%
% Change - Adjusted @ Constant FX (Non-GAAP) - As Recast		32.6	%		5.8	%		10.8	%		13.6	%		n/m			16.1	%		10.5	%		n/m			13.6	%

Operating Income Margin
Reported %		12.5	%		14.6	%		12.8	%		19.6	%														14.1	%
Reported pp change		1.1	pp		(6.1	)pp		(6.8	)pp		5.9	pp														(3.6	)pp
Adjusted %		13.2	%		18.9	%		19.0	%		20.3	%														17.7	%
Adjusted pp change		0.2	pp		(0.8	)pp		(1.2	)pp		1.0	pp														(0.2	)pp
Adjusted % - As Recast		13.2	%		18.9	%		19.0	%		20.3	%														17.8	%
Adjusted pp change - As Recast		0.2	pp		(0.8	)pp		(1.2	)pp		1.0	pp														(0.1	)pp

	For the Three Months Ended March 31, 2021
	Latin America			AMEA			Europe			North America			Unrealized G/(L) on Hedging Activities			General Corporate Expenses			Amortization of Intangibles			Other Items			Mondelēz International
Net Revenue
Reported (GAAP)	$	669		$	1,745		$	2,847		$	1,977		$	—		$	—		$	—		$	—		$	7,238
Divestitures		—			—			—			—			—			—			—			—			—

Adjusted (Non-GAAP)	$	669		$	1,745		$	2,847		$	1,977		$	—		$	—		$	—		$	—		$	7,238
Divestiture - Argentina business		(5	)		—			—			—			—			—			—			—			(5	)
Divestiture - KHC license		(3	)		—			—			—			—			—			—			—			(3	)

Adjusted (Non-GAAP) - As Recast	$	661		$	1,745		$	2,847		$	1,977		$	—		$	—		$	—		$	—		$	7,230

Operating Income
Reported (GAAP)	$	76		$	362		$	557		$	270		$	118		$	(64	)	$	(38	)	$	2		$	1,283
Simplify to Grow Program		6			(19	)		16			111			—			8			—			—			122
Mark-to-market (gains)/losses from derivatives		—			—			—			—			(118	)		—			—			—			(118	)
Acquisition integration costs and contingent consideration adjustments		—			—			—			1			—			—			—			—			1
Acquisition-related costs		—			—			—			—			—			—			—			7			7
Gain on acquisition		—			—			—			—			—			—			—			(9	)		(9	)
Remeasurement of net monetary position		5			—			—			—			—			—			—			—			5
Impact from pension participation changes		—			—			1			—			—			—			—			—			1

Adjusted (Non-GAAP)	$	87		$	343		$	574		$	382		$	—		$	(56	)	$	(38	)	$	—		$	1,292
Operating income from divestiture - Argentina business		(1	)		—			—			—			—			—			—			—			(1	)
Operating income from divestiture - KHC license		—			—			—			—			—			—			—			—			—

Adjusted (Non-GAAP) - As Recast	$	86		$	343		$	574		$	382		$	—		$	(56	)	$	(38	)	$	—		$	1,291

Operating Income Margin
Reported %		11.4	%		20.7	%		19.6	%		13.7	%														17.7	%
Adjusted %		13.0	%		19.7	%		20.2	%		19.3	%														17.9	%
Adjusted % - As Recast		13.0	%		19.7	%		20.2	%		19.3	%														17.9	%

Schedule 3.d

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Segment Data

(in millions of U.S. dollars)

(Unaudited)


	For the Twelve Months Ended December 31, 2021
	Latin America			AMEA			Europe			North America			Unrealized G/(L) on Hedging Activities			General Corporate Expenses			Amortization of Intangibles			Other Items			Mondelēz International
Net Revenue
Reported (GAAP)	$	2,797		$	6,465		$	11,156		$	8,302		$	—		$	—		$	—		$	—		$	28,720
Divestitures		—			(35	)		—			—			—			—			—			—			(35	)

Adjusted (Non-GAAP)	$	2,797		$	6,430		$	11,156		$	8,302		$	—		$	—		$	—		$	—		$	28,685
Divestiture - Argentina business		(34	)		—			—			—			—			—			—			—			(34	)
Divestiture - KHC license		(9	)		—			—			—			—			—			—			—			(9	)

Adjusted (Non-GAAP) - As Recast	$	2,754		$	6,430		$	11,156		$	8,302		$	—		$	—		$	—		$	—		$	28,642

Operating Income
Reported (GAAP)	$	261		$	1,054		$	2,092		$	1,371		$	279		$	(253	)	$	(134	)	$	(17	)	$	4,653
Simplify to Grow Program		16			(7	)		37			250			—			23			—			—			319
Intangible asset impairment charges		—			—			—			32			—			—			—			—			32
Mark-to-market (gains)/losses from derivatives		—			—			—			—			(279	)		—			—			—			(279	)
Acquisition integration costs and contingent consideration adjustments		—			1			16			(59	)		—			2			—			—			(40	)
Acquisition-related costs		—			—			—			—			—			—			—			25			25
Divestiture-related costs		22			—			—			—			—			—			—			—			22
Operating income from divestitures		—			(5	)		—			—			—			—			—			—			(5	)
Net gain on acquisition and divestitures		—			—			—			—			—			—			—			(8	)		(8	)
Remeasurement of net monetary position		13			—			—			—			—			—			—			—			13
Impact from pension participation changes		—			—			48			—			—			—			—			—			48
Impact from resolution of tax matters		(5	)		—			—			—			—			—			—			—			(5	)

Adjusted (Non-GAAP)	$	307		$	1,043		$	2,193		$	1,594		$	—		$	(228	)	$	(134	)	$	—		$	4,775
Operating income from divestiture - Argentina business		(10	)		—			—			—			—			—			—			—			(10	)
Operating income from divestiture - KHC license		—			—			—			—			—			—			—			—			—

Adjusted (Non-GAAP) - As Recast	$	297		$	1,043		$	2,193		$	1,594		$	—		$	(228	)	$	(134	)	$	—		$	4,765
Currency		21			(48	)		(85	)		(9	)		—			(4	)		5			—			(120	)

Adjusted @ Constant FX (Non-GAAP) - As Recast	$	318		$	995		$	2,108		$	1,585		$	—		$	(232	)	$	(129	)	$	—		$	4,645

% Change - Reported (GAAP)		38.1	%		28.4	%		17.9	%		(13.6	)%		n/m			22.4	%		30.9	%		n/m			20.8	%
% Change - Adjusted (Non-GAAP)		34.1	%		19.1	%		12.0	%		(9.9	)%		n/m			3.8	%		30.9	%		n/m			8.5	%
% Change - Adjusted (Non-GAAP) - As Recast		30.8	%		19.1	%		12.0	%		(9.9	)%		n/m			3.8	%		30.9	%		n/m			8.3	%
% Change - Adjusted @ Constant FX (Non-GAAP) - As Recast		40.1	%		13.6	%		7.7	%		(10.4	)%		n/m			2.1	%		33.5	%		n/m			5.6	%

Operating Income Margin
Reported %		9.3	%		16.3	%		18.8	%		16.5	%														16.2	%
Reported pp change		1.7	pp		2.0	pp		1.4	pp		(3.0	)pp														1.7	pp
Adjusted %		11.0	%		16.2	%		19.7	%		19.2	%														16.6	%
Adjusted pp change		1.8	pp		0.9	pp		0.5	pp		(2.5	)pp														—	pp
Adjusted % - As Recast		10.8	%		16.2	%		19.7	%		19.2	%														16.6	%
Adjusted pp change - As Recast		1.5	pp		0.9	pp		0.5	pp		(2.5	)pp														—	pp

	For the Twelve Months Ended December 31, 2020
	Latin America			AMEA			Europe			North America			Unrealized G/(L) on Hedging Activities			General Corporate Expenses			Amortization of Intangibles			Other Items			Mondelēz International
Net Revenue
Reported (GAAP)	$	2,477		$	5,740		$	10,207		$	8,157		$	—		$	—		$	—		$	—		$	26,581
Divestitures		—			—			—			—			—			—			—			—			—

Adjusted (Non-GAAP)	$	2,477		$	5,740		$	10,207		$	8,157		$	—		$	—		$	—		$	—		$	26,581

Divestiture - Argentina business		(23	)		—			—			—			—			—			—			—			(23	)
Divestiture - KHC license		(9	)		—			—			—			—			—			—			—			(9	)

Adjusted (Non-GAAP) - As Recast	$	2,445		$	5,740		$	10,207		$	8,157		$	—		$	—		$	—		$	—		$	26,549

Operating Income
Reported (GAAP)	$	189		$	821		$	1,775		$	1,587		$	16		$	(326	)	$	(194	)	$	(15	)	$	3,853
Simplify to Grow Program		48			46			130			95			—			41			—			—			360
Intangible asset impairment charges		3			5			53			83			—			—			—			—			144
Mark-to-market (gains)/losses from derivatives		—			—			—			—			(16	)		—			—			—			(16	)
Acquisition integration costs		—			—			—			4			—			—			—			—			4
Acquisition-related costs		—			—			—			—			—			—			—			15			15
Divestiture-related costs		—			4			—			—			—			—			—			—			4
Costs associated with JDE Peet’s transaction		—			—			—			—			—			48			—			—			48
Remeasurement of net monetary position		9			—			—			—			—			—			—			—			9
Impact from resolution of tax matters		(20	)		—			—			—			—			—			—			—			(20	)

Adjusted (Non-GAAP)	$	229		$	876		$	1,958		$	1,769		$	—		$	(237	)	$	(194	)	$	—		$	4,401
Operating income from divestiture - Argentina business		(2	)		—			—			—			—			—			—			—			(2	)
Operating income from divestiture - KHC license		—			—			—			—			—			—			—			—			—

Adjusted (Non-GAAP) - As Recast	$	227		$	876		$	1,958		$	1,769		$	—		$	(237	)	$	(194	)	$	—		$	4,399

Operating Income Margin
Reported %		7.6	%		14.3	%		17.4	%		19.5	%														14.5	%
Adjusted %		9.2	%		15.3	%		19.2	%		21.7	%														16.6	%
Adjusted % - As Recast		9.3	%		15.3	%		19.2	%		21.7	%														16.6	%

Schedule 3.e

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Segment Data

(in millions of U.S. dollars)

(Unaudited)


	For the Three Months Ended December 31, 2021
	Latin America			AMEA			Europe			North America			Unrealized G/(L) on Hedging Activities			General Corporate Expenses			Amortization of Intangibles			Other Items			Mondelēz International
Net Revenue
Reported (GAAP)	$	708		$	1,639		$	3,121		$	2,190		$	—		$	—		$	—		$	—		$	7,658
Divestitures		—			(5	)		—			—			—			—			—			—			(5	)

Adjusted (Non-GAAP)	$	708		$	1,634		$	3,121		$	2,190		$	—		$	—		$	—		$	—		$	7,653
Divestiture - Argentina business		(13	)		—			—			—			—			—			—			—			(13	)
Divestiture - KHC license		(2	)		—			—			—			—			—			—			—			(2	)

Adjusted (Non-GAAP) - As Recast	$	693		$	1,634		$	3,121		$	2,190		$	—		$	—		$	—		$	—		$	7,638

Operating Income
Reported (GAAP)	$	40		$	212		$	614		$	439		$	9		$	(76	)	$	(32	)	$	(2	)	$	1,204
Simplify to Grow Program		5			4			3			(78	)		—			4			—			—			(62	)
Mark-to-market (gains)/losses from derivatives		—			—			—			—			(9	)		—			—			—			(9	)
Acquisition integration costs and contingent consideration adjustments		—			1			10			1			—			2			—			—			14
Acquisition-related costs		—			—			—			—			—			—			—			1			1
Divestiture-related costs		22			—			—			—			—			—			—			—			22
Loss on divestiture		—			—			—			—			—			—			—			1			1
Remeasurement of net monetary position		3			—			—			—			—			—			—			—			3
Impact from pension participation changes		—			—			1			—			—			—			—			—			1

Adjusted (Non-GAAP)	$	70		$	217		$	628		$	362		$	—		$	(70	)	$	(32	)	$	—		$	1,175
Operating income from divestiture - Argentina business		(4	)		—			—			—			—			—			—			—			(4	)
Operating income from divestiture - KHC license		—			—			—			—			—			—			—			—			—

Adjusted (Non-GAAP) - As Recast	$	66		$	217		$	628		$	362		$	—		$	(70	)	$	(32	)	$	—		$	1,171
Currency		3			2			15			(1	)		—			(10	)		1			—			10

Adjusted @ Constant FX (Non-GAAP) - As Recast	$	69		$	219		$	643		$	361		$	—		$	(80	)	$	(31	)	$	—		$	1,181

% Change - Reported (GAAP)		0.0	%		2.9	%		7.0	%		11.1	%		n/m			(4.1	)%		37.3	%		n/m			4.8	%
% Change - Adjusted (Non-GAAP)		79.5	%		0.9	%		2.6	%		(20.1	)%		n/m			12.5	%		37.3	%		n/m			(1.1	)%
% Change - Adjusted (Non-GAAP) - As Recast		65.0	%		0.9	%		2.6	%		(20.1	)%		n/m			12.5	%		37.3	%		n/m			(1.5	)%
% Change - Adjusted @ Constant FX (Non-GAAP) - As Recast		72.5	%		1.9	%		5.1	%		(20.3	)%		n/m			0.0	%		39.2	%		n/m			(0.7	)%

Operating Income Margin
Reported %		5.6	%		12.9	%		19.7	%		20.0	%														15.7	%
Reported pp change		(0.7	)pp		(0.6	)pp		0.3	pp		1.9	pp														—	pp
Adjusted %		9.9	%		13.3	%		20.1	%		16.5	%														15.4	%
Adjusted pp change		3.7	pp		(0.7	)pp		(0.6	)pp		(4.3	)pp														(0.9	)pp
Adjusted % - As Recast		9.5	%		13.3	%		20.1	%		16.5	%														15.3	%
Adjusted pp change - As Recast		3.0	pp		(0.7	)pp		(0.6	)pp		(4.3	)pp														(1.0	)pp

	For the Three Months Ended December 31, 2020
	Latin America			AMEA			Europe			North America			Unrealized G/(L) on Hedging Activities			General Corporate Expenses			Amortization of Intangibles			Other Items			Mondelēz International
Net Revenue
Reported (GAAP)	$	630		$	1,531		$	2,959		$	2,178		$	—		$	—		$	—		$	—		$	7,298
Divestitures		—			—			—			—			—			—			—			—			—

Adjusted (Non-GAAP)	$	630		$	1,531		$	2,959		$	2,178		$	—		$	—		$	—		$	—		$	7,298
Divestiture - Argentina business		(8	)		—			—			—			—			—			—			—			(8	)
Divestiture - KHC license		(2	)		—			—			—			—			—			—			—			(2	)

Adjusted (Non-GAAP) - As Recast	$	620		$	1,531		$	2,959		$	2,178		$	—		$	—		$	—		$	—		$	7,288

Operating Income
Reported (GAAP)	$	40		$	206		$	574		$	395		$	58		$	(73	)	$	(51	)	$	—		$	1,149
Simplify to Grow Program		17			9			38			56			—			(8	)		—			—			112
Mark-to-market (gains)/losses from derivatives		—			—			—			—			(58	)		—			—			—			(58	)
Acquisition integration costs		—			—			—			2			—			—			—			—			2
Remeasurement of net monetary position		2			—			—			—			—			—			—			—			2
Impact from resolution of tax matters		(20	)		—			—			—			—			—			—			—			(20	)
Rounding		—			—			—			—			—			1			—			—			1

Adjusted (Non-GAAP)	$	39		$	215		$	612		$	453		$	—		$	(80	)	$	(51	)	$	—		$	1,188
Operating income from divestiture - Argentina business		—			—			—			—			—			—			—			—			—
Operating income from divestiture - KHC license		1			—			—			—			—			—			—			—			1

Adjusted (Non-GAAP) - As Recast	$	40		$	215		$	612		$	453		$	—		$	(80	)	$	(51	)	$	—		$	1,189

Operating Income Margin
Reported %		6.3	%		13.5	%		19.4	%		18.1	%														15.7	%
Adjusted %		6.2	%		14.0	%		20.7	%		20.8	%														16.3	%
Adjusted % - As Recast		6.5	%		14.0	%		20.7	%		20.8	%														16.3	%

Schedule 3.f

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Segment Data

(in millions of U.S. dollars)

(Unaudited)


	For the Three Months Ended September 30, 2021
	Latin America			AMEA			Europe			North America			Unrealized G/(L) on Hedging Activities			General Corporate Expenses			Amortization of Intangibles			Other Items		Mondelēz International
Net Revenue
Reported (GAAP)	$	751		$	1,629		$	2,714		$	2,088		$	—		$	—		$	—		$	—	$	7,182
Divestitures		—			(16	)		—			—			—			—			—			—		(16	)

Adjusted (Non-GAAP)	$	751		$	1,613		$	2,714		$	2,088		$	—		$	—		$	—		$	—	$	7,166
Divestiture - Argentina business		(9	)		—			—			—			—			—			—			—		(9	)
Divestiture - KHC license		(2	)		—			—			—			—			—			—			—		(2	)

Adjusted (Non-GAAP) - As Recast	$	740		$	1,613		$	2,714		$	2,088		$	—		$	—		$	—		$	—	$	7,155

Operating Income
Reported (GAAP)	$	91		$	267		$	508		$	363		$	132		$	(35	)	$	(32	)	$	—	$	1,294
Simplify to Grow Program		1			3			8			108			—			7			—			—		127
Mark-to-market (gains)/losses from derivatives		—			—			—			—			(132	)		—			—			—		(132	)
Acquisition integration costs and contingent consideration adjustments		—			—			6			(62	)		—			(1	)		—			—		(57	)
Operating income from divestitures		—			(3	)		—			—			—			—			—			—		(3	)
Remeasurement of net monetary position		2			—			—			—			—			—			—			—		2
Impact from pension participation changes		—			—			2			—			—			—			—			—		2

Adjusted (Non-GAAP)	$	94		$	267		$	524		$	409		$	—		$	(29	)	$	(32	)	$	—	$	1,233
Operating income from divestiture - Argentina business		(3	)		—			—			—			—			—			—			—		(3	)
Operating income from divestiture - KHC license		—			—			—			—			—			—			—			—		—

Adjusted (Non-GAAP) - As Recast	$	91		$	267		$	524		$	409		$	—		$	(29	)	$	(32	)	$	—	$	1,230
Currency		4			(7	)		(12	)		(1	)		—			(4	)		1			—		(19	)

Adjusted @ Constant FX (Non-GAAP) - As Recast	$	95		$	260		$	512		$	408		$	—		$	(33	)	$	(31	)	$	—	$	1,211

% Change - Reported (GAAP)		18.2	%		27.1	%		17.6	%		(6.2	)%		n/m			47.0	%		36.0	%		n/m		14.0	%
% Change - Adjusted (Non-GAAP)		8.0	%		9.9	%		6.9	%		(9.5	)%		n/m			49.1	%		36.0	%		n/m		5.8	%
% Change - Adjusted (Non-GAAP) - As Recast		7.1	%		9.9	%		6.9	%		(9.5	)%		n/m			49.1	%		36.0	%		n/m		5.8	%
% Change - Adjusted @ Constant FX (Non-GAAP) - As Recast		11.8	%		7.0	%		4.5	%		(9.7	)%		n/m			42.1	%		38.0	%		n/m		4.1	%

Operating Income Margin
Reported %		12.1	%		16.4	%		18.7	%		17.4	%													18.0	%
Reported pp change		(0.5	)pp		2.1	pp		1.6	pp		(1.4	)pp													1.0	pp
Adjusted %		12.5	%		16.6	%		19.3	%		19.6	%													17.2	%
Adjusted pp change		(1.8	)pp		0.1	pp		(0.1	)pp		(2.4	)pp													(0.3	)pp
Adjusted % - As Recast		12.3	%		16.6	%		19.3	%		19.6	%													17.2	%
Adjusted pp change - As Recast		(1.9	)pp		0.1	pp		(0.1	)pp		(2.4	)pp													(0.3	)pp

	For the Three Months Ended September 30, 2020
	Latin America			AMEA			Europe			North America			Unrealized G/(L) on Hedging Activities			General Corporate Expenses			Amortization of Intangibles			Other Items		Mondelēz International
Net Revenue
Reported (GAAP)	$	610		$	1,470		$	2,526		$	2,059		$	—		$	—		$	—		$	—	$	6,665
Divestitures		—			—			—			—			—			—			—			—		—

Adjusted (Non-GAAP)	$	610		$	1,470		$	2,526		$	2,059		$	—		$	—		$	—		$	—	$	6,665
Divestiture - Argentina business		(8	)		—			—			—			—			—			—			—		(8	)
Divestiture - KHC license		(2	)		—			—			—			—			—			—			—		(2	)

Adjusted (Non-GAAP) - As Recast	$	600		$	1,470		$	2,526		$	2,059		$	—		$	—		$	—		$	—	$	6,655

Operating Income
Reported (GAAP)	$	77		$	210		$	432		$	387		$	145		$	(66	)	$	(50	)	$	—	$	1,135
Simplify to Grow Program		5			27			55			18			—			9			—			—		114
Intangible asset impairment charges		3			—			3			47			—			1			—			—		54
Mark-to-market (gains)/losses from derivatives		—			—			—			—			(145	)		—			—			—		(145	)
Divestiture-related costs		—			6			—			—			—			—			—			—		6
Remeasurement of net monetary position		2			—			—			—			—			—			—			—		2
Rounding		—			—			—			—			—			(1	)		—			—		(1	)

Adjusted (Non-GAAP)	$	87		$	243		$	490		$	452		$	—		$	(57	)	$	(50	)	$	—	$	1,165
Operating income from divestiture - Argentina business		(2	)		—			—			—			—			—			—			—		(2	)
Operating income from divestiture - KHC license		—			—			—			—			—			—			—			—		—

Adjusted (Non-GAAP) - As Recast	$	85		$	243		$	490		$	452		$	—		$	(57	)	$	(50	)	$	—	$	1,163

Operating Income Margin
Reported %		12.6	%		14.3	%		17.1	%		18.8	%													17.0	%
Adjusted %		14.3	%		16.5	%		19.4	%		22.0	%													17.5	%
Adjusted % - As Recast		14.2	%		16.5	%		19.4	%		22.0	%													17.5	%

Schedule 3.g

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Segment Data

(in millions of U.S. dollars)

(Unaudited)


	For the Three Months Ended June 30, 2021
	Latin America			AMEA			Europe			North America			Unrealized G/(L) on Hedging Activities			General Corporate Expenses			Amortization of Intangibles			Other Items			Mondelēz International
Net Revenue
Reported (GAAP)	$	669		$	1,452		$	2,474		$	2,047		$	—		$	—		$	—		$	—		$	6,642
Divestitures		—			(14	)		—			—			—			—			—			—			(14	)

Adjusted (Non-GAAP)	$	669		$	1,438		$	2,474		$	2,047		$	—		$	—		$	—		$	—		$	6,628
Divestiture - Argentina business		(7	)		—			—			—			—			—			—			—			(7	)
Divestiture - KHC license		(2	)		—			—			—			—			—			—			—			(2	)

Adjusted (Non-GAAP) - As Recast	$	660		$	1,438		$	2,474		$	2,047		$	—		$	—		$	—		$	—		$	6,619

Operating Income
Reported (GAAP)	$	54		$	213		$	413		$	299		$	20		$	(78	)	$	(32	)	$	(17	)	$	872
Simplify to Grow Program		4			5			10			109			—			4			—			—			132
Intangible asset impairment charges		—			—			—			32			—			—			—			—			32
Mark-to-market (gains)/losses from derivatives		—			—			—			—			(20	)		—			—			—			(20	)
Acquisition integration costs and contingent consideration adjustments		—			—			—			1			—			1			—			—			2
Acquisition-related costs		—			—			—			—			—			—			—			17			17
Operating income from divestitures		—			(2	)		—			—			—			—			—			—			(2	)
Remeasurement of net monetary position		3			—			—			—			—			—			—			—			3
Impact from pension participation changes		—			—			44			—			—			—			—			—			44
Impact from resolution of tax matters		(5	)		—			—			—			—			—			—			—			(5	)

Adjusted (Non-GAAP)	$	56		$	216		$	467		$	441		$	—		$	(73	)	$	(32	)	$	—		$	1,075
Operating income from divestiture - Argentina business		(2	)		—			—			—			—			—			—			—			(2	)
Operating income from divestiture - KHC license		—			—			—			—			—			—			—			—			—

Adjusted (Non-GAAP) - As Recast	$	54		$	216		$	467		$	441		$	—		$	(73	)	$	(32	)	$	—		$	1,073
Currency		1			(23	)		(45	)		(5	)		—			4			1			—			(67	)

Adjusted @ Constant FX (Non-GAAP) - As Recast	$	55		$	193		$	422		$	436		$	—		$	(69	)	$	(31	)	$	—		$	1,006

% Change - Reported (GAAP)		1000.0	%		24.6	%		39.1	%		(29.5	)%		n/m			29.7	%		36.0	%		n/m			22.3	%
% Change - Adjusted (Non-GAAP)		366.7	%		18.7	%		27.2	%		(6.2	)%		n/m			(87.2	)%		36.0	%		n/m			14.1	%
% Change - Adjusted (Non-GAAP) - As Recast		315.4	%		18.7	%		27.2	%		(6.2	)%		n/m			(87.2	)%		36.0	%		n/m			13.8	%
% Change - Adjusted @ Constant FX (Non-GAAP) - As Recast		323.1	%		6.0	%		15.0	%		(7.2	)%		n/m			(76.9	)%		38.0	%		n/m			6.7	%

Operating Income Margin
Reported %		8.1	%		14.7	%		16.7	%		14.6	%														13.1	%
Reported pp change		9.3	pp		0.9	pp		2.8	pp		(6.3	)pp														1.0	pp
Adjusted %		8.4	%		15.0	%		18.9	%		21.5	%														16.2	%
Adjusted pp change		6.1	pp		0.3	pp		1.7	pp		(1.7	)pp														0.3	pp
Adjusted % - As Recast		8.2	%		15.0	%		18.9	%		21.5	%														16.2	%
Adjusted pp change - As Recast		5.6	pp		0.3	pp		1.7	pp		(1.7	)pp														0.2	pp


	For the Three Months Ended June 30, 2020
	Latin America			AMEA			Europe			North America			Unrealized G/(L) on Hedging Activities			General Corporate Expenses			Amortization of Intangibles			Other Items			Mondelēz International
Net Revenue
Reported (GAAP)	$	511		$	1,237		$	2,138		$	2,025		$	—		$	—		$	—		$	—		$	5,911
Divestitures		—			—			—			—			—			—			—			—			—

Adjusted (Non-GAAP)	$	511		$	1,237		$	2,138		$	2,025		$	—		$	—		$	—		$	—		$	5,911
Divestiture - Argentina business		(3	)		—			—			—			—			—			—			—			(3	)
Divestiture - KHC license		(2	)		—			—			—			—			—			—			—			(2	)

Adjusted (Non-GAAP) - As Recast	$	506		$	1,237		$	2,138		$	2,025		$	—		$	—		$	—		$	—		$	5,906

Operating Income
Reported (GAAP)	$	(6	)	$	171		$	297		$	424		$	(2	)	$	(111	)	$	(50	)	$	(10	)	$	713
Simplify to Grow Program		15			8			20			9			—			24			—			—			76
Intangible asset impairment charges		—			5			50			36			—			(1	)		—			—			90
Mark-to-market (gains)/losses from derivatives		—			—			—			—			2			—			—			—			2
Acquisition integration costs		—			—			—			1			—			1			—			—			2
Acquisition-related costs		—			—			—			—			—			—			—			10			10
Divestiture-related costs		—			(2	)		—			—			—			—			—			—			(2	)
Costs associated with JDE Peet’s transaction		—			—			—			—			—			48			—			—			48
Remeasurement of net monetary position		3			—			—			—			—			—			—			—			3

Adjusted (Non-GAAP)	$	12		$	182		$	367		$	470		$	—		$	(39	)	$	(50	)	$	—		$	942
Operating income from divestiture - Argentina business		1			—			—			—			—			—			—			—			1
Operating income from divestiture - KHC license		—			—			—			—			—			—			—			—			—

Adjusted (Non-GAAP) - As Recast	$	13		$	182		$	367		$	470		$	—		$	(39	)	$	(50	)	$	—		$	943

Operating Income Margin
Reported %		(1.2	)%		13.8	%		13.9	%		20.9	%														12.1	%
Adjusted %		2.3	%		14.7	%		17.2	%		23.2	%														15.9	%
Adjusted % - As Recast		2.6	%		14.7	%		17.2	%		23.2	%														16.0	%

Schedule 3.h

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Segment Data

(in millions of U.S. dollars)

(Unaudited)


	For the Three Months Ended March 31, 2021
	Latin America			AMEA			Europe			North America			Unrealized G/(L) on Hedging Activities			General Corporate Expenses			Amortization of Intangibles			Other Items			Mondelēz International
Net Revenue
Reported (GAAP)	$	669		$	1,745		$	2,847		$	1,977		$	—		$	—		$	—		$	—		$	7,238
Divestitures		—			—			—			—			—			—			—			—			—

Adjusted (Non-GAAP)	$	669		$	1,745		$	2,847		$	1,977		$	—		$	—		$	—		$	—		$	7,238
Divestiture - Argentina business		(5	)		—			—			—			—			—			—			—			(5	)
Divestiture - KHC license		(3	)		—			—			—			—			—			—			—			(3	)

Adjusted (Non-GAAP) - As Recast	$	661		$	1,745		$	2,847		$	1,977		$	—		$	—		$	—		$	—		$	7,230

Operating Income
Reported (GAAP)	$	76		$	362		$	557		$	270		$	118		$	(64	)	$	(38	)	$	2		$	1,283
Simplify to Grow Program		6			(19	)		16			111			—			8			—			—			122
Mark-to-market (gains)/losses from derivatives		—			—			—			—			(118	)		—			—			—			(118	)
Acquisition integration costs and contingent consideration adjustments		—			—			—			1			—			—			—			—			1
Acquisition-related costs		—			—			—			—			—			—			—			7			7
Gain on acquisition		—			—			—			—			—			—			—			(9	)		(9	)
Remeasurement of net monetary position		5			—			—			—			—			—			—			—			5
Impact from pension participation changes		—			—			1			—			—			—			—			—			1

Adjusted (Non-GAAP)	$	87		$	343		$	574		$	382		$	—		$	(56	)	$	(38	)	$	—		$	1,292
Operating income from divestiture - Argentina business		(1	)		—			—			—			—			—			—			—			(1	)
Operating income from divestiture - KHC license		—			—			—			—			—			—			—			—			—

Adjusted (Non-GAAP) - As Recast	$	86		$	343		$	574		$	382		$	—		$	(56	)	$	(38	)	$	—		$	1,291
Currency		13			(20	)		(43	)		(2	)		—			6			2			—			(44	)

Adjusted @ Constant FX (Non-GAAP) - As Recast	$	99		$	323		$	531		$	380		$	—		$	(50	)	$	(36	)	$	—		$	1,247

% Change - Reported (GAAP)		(2.6	)%		54.7	%		18.0	%		(29.1	)%		n/m			15.8	%		11.6	%		n/m			49.9	%
% Change - Adjusted (Non-GAAP)		(4.4	)%		45.3	%		17.4	%		(3.0	)%		n/m			8.2	%		11.6	%		n/m			16.8	%
% Change - Adjusted (Non-GAAP) - As Recast		(3.4	)%		45.3	%		17.4	%		(3.0	)%		n/m			8.2	%		11.6	%		n/m			16.9	%
% Change - Adjusted @ Constant FX (Non-GAAP) - As Recast		11.2	%		36.9	%		8.6	%		(3.6	)%		n/m			18.0	%		16.3	%		n/m			13.0	%

Operating Income Margin
Reported %		11.4	%		20.7	%		19.6	%		13.7	%														17.7	%
Reported pp change		0.7	pp		5.1	pp		1.3	pp		(6.4	)pp														4.9	pp
Adjusted %		13.0	%		19.7	%		20.2	%		19.3	%														17.9	%
Adjusted pp change		0.5	pp		4.0	pp		1.3	pp		(1.5	)pp														1.4	pp
Adjusted % - As Recast		13.0	%		19.7	%		20.2	%		19.3	%														17.9	%
Adjusted pp change - As Recast		0.6	pp		4.0	pp		1.3	pp		(1.5	)pp														1.4	pp


	For the Three Months Ended March 31, 2020
	Latin America			AMEA			Europe			North America			Unrealized G/(L) on Hedging Activities			General Corporate Expenses			Amortization of Intangibles			Other Items			Mondelēz International
Net Revenue
Reported (GAAP)	$	726		$	1,502		$	2,584		$	1,895		$	—		$	—		$	—		$	—		$	6,707
Divestitures		—			—			—			—			—			—			—			—			—

Adjusted (Non-GAAP)	$	726		$	1,502		$	2,584		$	1,895		$	—		$	—		$	—		$	—		$	6,707
Divestiture - Argentina business		(4	)		—			—			—			—			—			—			—			(4	)
Divestiture - KHC license		(3	)		—			—			—			—			—			—			—			(3	)

Adjusted (Non-GAAP) - As Recast	$	719		$	1,502		$	2,584		$	1,895		$	—		$	—		$	—		$	—		$	6,700

Operating Income
Reported (GAAP)	$	78		$	234		$	472		$	381		$	(185	)	$	(76	)	$	(43	)	$	(5	)	$	856
Simplify to Grow Program		11			2			17			12			—			16			—			—			58
Mark-to-market (gains)/losses from derivatives		—			—			—			—			185			—			—			—			185
Acquisition integration costs		—			—			—			1			—			(1	)		—			—			—
Acquisition-related costs		—			—			—			—			—			—			—			5			5
Remeasurement of net monetary position		2			—			—			—			—			—			—			—			2

Adjusted (Non-GAAP)	$	91		$	236		$	489		$	394		$	—		$	(61	)	$	(43	)	$	—		$	1,106
Operating income from divestiture - Argentina business		(1	)		—			—			—			—			—			—			—			(1	)
Operating income from divestiture - KHC license		(1	)		—			—			—			—			—			—			—			(1	)

Adjusted (Non-GAAP) - As Recast	$	89		$	236		$	489		$	394		$	—		$	(61	)	$	(43	)	$	—		$	1,104

Operating Income Margin
Reported %		10.7	%		15.6	%		18.3	%		20.1	%														12.8	%
Adjusted %		12.5	%		15.7	%		18.9	%		20.8	%														16.5	%
Adjusted % - As Recast		12.4	%		15.7	%		18.9	%		20.8	%														16.5	%

Schedule 3.i

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Segment Data

(in millions of U.S. dollars)

(Unaudited)


	For the Twelve Months Ended December 31, 2020
	Latin America			AMEA			Europe			North America			Unrealized G/(L) on Hedging Activities			General Corporate Expenses			Amortization of Intangibles			Other Items			Mondelēz International
Net Revenue
Reported (GAAP)	$	2,477		$	5,740		$	10,207		$	8,157		$	—		$	—		$	—		$	—		$	26,581
Divestitures		—			—			—			—			—			—			—			—			—

Adjusted (Non-GAAP)	$	2,477		$	5,740		$	10,207		$	8,157		$	—		$	—		$	—		$	—		$	26,581
Divestiture - Argentina business		(23	)		—			—			—			—			—			—			—			(23	)
Divestiture - KHC license		(9	)		—			—			—			—			—			—			—			(9	)

Adjusted (Non-GAAP) - As Recast	$	2,445		$	5,740		$	10,207		$	8,157		$	—		$	—		$	—		$	—		$	26,549

Operating Income
Reported (GAAP)	$	189		$	821		$	1,775		$	1,587		$	16		$	(326	)	$	(194	)	$	(15	)	$	3,853
Simplify to Grow Program		48			46			130			95			—			41			—			—			360
Intangible asset impairment charges		3			5			53			83			—			—			—			—			144
Mark-to-market (gains)/losses from derivatives		—			—			—			—			(16	)		—			—			—			(16	)
Acquisition integration costs		—			—			—			4			—			—			—			—			4
Acquisition-related costs		—			—			—			—			—			—			—			15			15
Divestiture-related costs		—			4			—			—			—			—			—			—			4
Costs associated with JDE Peet’s transaction		—			—			—			—			—			48			—			—			48
Remeasurement of net monetary position		9			—			—			—			—			—			—			—			9
Impact from resolution of tax matters		(20	)		—			—			—			—			—			—			—			(20	)

Adjusted (Non-GAAP)	$	229		$	876		$	1,958		$	1,769		$	—		$	(237	)	$	(194	)	$	—		$	4,401
Operating income from divestiture - Argentina business		(2	)		—			—			—			—			—			—			—			(2	)
Operating income from divestiture - KHC license		—			—			—			—			—			—			—			—			—

Adjusted (Non-GAAP) - As Recast	$	227		$	876		$	1,958		$	1,769		$	—		$	(237	)	$	(194	)	$	—		$	4,399
Currency		49			11			5			1			—			(3	)		(4	)		—			59

Adjusted @ Constant FX (Non-GAAP) - As Recast	$	276		$	887		$	1,963		$	1,770		$	—		$	(240	)	$	(198	)	$	—		$	4,458

% Change - Reported (GAAP)		(44.6	)%		18.8	%		2.5	%		9.4	%		n/m			1.2	%		(11.5	)%		n/m			0.3	%
% Change - Adjusted (Non-GAAP)		(44.4	)%		3.5	%		(1.2	)%		19.2	%		n/m			16.8	%		(11.5	)%		n/m			3.2	%
% Change - Adjusted (Non-GAAP) - As Recast		(44.0	)%		3.5	%		(1.2	)%		19.2	%		n/m			16.8	%		(11.5	)%		n/m			3.3	%
% Change - Adjusted @ Constant FX (Non-GAAP) - As Recast		(31.9	)%		4.8	%		(0.9	)%		19.3	%		n/m			15.8	%		(13.8	)%		n/m			4.7	%

Operating Income Margin
Reported %		7.6	%		14.3	%		17.4	%		19.5	%														14.5	%
Reported pp change		(3.7	)pp		2.3	pp		—	pp		(0.9	)pp														(0.4	)pp
Adjusted %		9.2	%		15.3	%		19.2	%		21.7	%														16.6	%
Adjusted pp change		(4.5	)pp		0.5	pp		(0.7	)pp		0.8	pp														0.1	pp
Adjusted % - As Recast		9.3	%		15.3	%		19.2	%		21.7	%														16.6	%
Adjusted pp change - As Recast		(4.3	)pp		0.5	pp		(0.7	)pp		0.8	pp														0.1	pp

	For the Twelve Months Ended December 31, 2019
	Latin America			AMEA			Europe			North America			Unrealized G/(L) on Hedging Activities			General Corporate Expenses			Amortization of Intangibles			Other Items			Mondelēz International
Net Revenue
Reported (GAAP)	$	3,018		$	5,770		$	9,972		$	7,108		$	—		$	—		$	—		$	—		$	25,868
Divestitures		—			(55	)		—			—			—			—			—			—			(55	)

Adjusted (Non-GAAP)	$	3,018		$	5,715		$	9,972		$	7,108		$	—		$	—		$	—		$	—		$	25,813
Divestiture - Argentina business		(26	)		—			—			—			—			—			—			—			(26	)
Divestiture - KHC license		(10	)		—			—			—			—			—			—			—			(10	)

Adjusted (Non-GAAP) - As Recast	$	2,982		$	5,715		$	9,972		$	7,108		$	—		$	—		$	—		$	—		$	25,777

Operating Income
Reported (GAAP)	$	341		$	691		$	1,732		$	1,451		$	91		$	(330	)	$	(174	)	$	41		$	3,843
Simplify to Grow Program		74			56			208			68			—			36			—			—			442
Intangible asset impairment charges		3			15			39			—			—			—			—			—			57
Mark-to-market (gains)/losses from derivatives		—			—			—			—			(91	)		—			—			—			(91	)
Acquisition-related costs		—			—			—			—			—			—			—			3			3
Divestiture-related costs		—			6			—			—			—			—			—			—			6
Operating income from divestitures		—			(9	)		—			—			—			—			—			—			(9	)
Net gain on divestiture		—			—			—			—			—			—			—			(44	)		(44	)
Remeasurement of net monetary position		(4	)		—			—			—			—			—			—			—			(4	)
Impact from pension participation changes		—			—			—			(35	)		—			—			—			—			(35	)
Impact from resolution of tax matters		(2	)		87			—			—			—			—			—			—			85
CEO transition remuneration		—			—			—			—			—			9			—			—			9
Swiss tax reform impact		—			—			2			—			—			—			—			—			2

Adjusted (Non-GAAP)	$	412		$	846		$	1,981		$	1,484		$	—		$	(285	)	$	(174	)	$	—		$	4,264
Operating income from divestiture - Argentina business		(5	)		—			—			—			—			—			—			—			(5	)
Operating income from divestiture - KHC license		(2	)		—			—			—			—			—			—			—			(2	)

Adjusted (Non-GAAP) - As Recast	$	405		$	846		$	1,981		$	1,484		$	—		$	(285	)	$	(174	)	$	—		$	4,257

Operating Income Margin
Reported %		11.3	%		12.0	%		17.4	%		20.4	%														14.9	%
Adjusted %		13.7	%		14.8	%		19.9	%		20.9	%														16.5	%
Adjusted % - As Recast		13.6	%		14.8	%		19.9	%		20.9	%														16.5	%

Schedule 4.a

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Net Earnings and Tax Rate

(in millions of U.S. dollars and shares, except per share data)

(Unaudited)


	For the Six Months Ended June 30, 2022
	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)	$	2,021		$	(63	)	$	266		$	1,818		$	411			22.6	%	$	13		$	(215	)	$	7	$	1,602		$	1.15
Simplify to Grow Program		53			(1	)		—			54			13						—			—			—		41			0.03
Intangible asset impairment charges		78			—			—			78			19						—			—			—		59			0.04
Mark-to-market (gains)/losses from derivatives		82			—			(18	)		100			19						—			—			—		81			0.06
Acquisition integration costs and contingent consideration adjustments		69			—			(3	)		72			51						—			—			—		21			0.02
Acquisition-related costs		26			—			—			26			3						—			—			—		23			0.02
Divestiture-related costs		6			—			—			6			1						—			—			—		5			—
Remeasurement of net monetary position		15			—			—			15			—						—			—			—		15			0.01
Impact from pension participation changes		—			—			(5	)		5			1						—			—			—		4			—
Incremental costs due to war in Ukraine		128			—			—			128			(2	)					—			—			—		130			0.09
Loss on debt extinguishment and related expenses		—			—			(129	)		129			31						—			—			—		98			0.07
Initial impacts from enacted tax law changes		—			—			—			—			(9	)					—			—			—		9			0.01
Loss on equity method investment transactions		—			—			—			—			—						(13	)		—			—		13			0.01
Equity method investee items		—			—			—			—			(5	)					—			13			—		(8	)		(0.01	)

Adjusted (Non-GAAP)	$	2,478		$	(64	)	$	111		$	2,431		$	533			21.9	%	$	—		$	(202	)	$	7	$	2,093		$	1.50
Net earnings from divestiture - Argentina business		(5	)		—			—			(5	)		(1	)					—			—			—		(4	)		—
Net earnings from divestiture - KHC license		1			—			—			1			1						—			—			—		—			—
Net earnings from divestiture - JDEP		—			—			—			—			—						—			14			—		(14	)		(0.01	)
Change in equity method investee items		—			—			—			—			—						—			1			—		(1	)		—

Adjusted (Non-GAAP) - As Recast	$	2,474		$	(64	)	$	111		$	2,427		$	533			22.0	%	$	—		$	(187	)	$	7	$	2,074		$	1.49

Currency																												157			0.11

Adjusted @ Constant FX (Non-GAAP) - As Recast																											$	2,231		$	1.60

Diluted Average Shares Outstanding																															1,393


	For the Six Months Ended June 30, 2021
	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)	$	2,155		$	(98	)	$	276		$	1,977		$	610			30.9	%	$	(495	)	$	(185	)	$	8	$	2,039		$	1.44
Simplify to Grow Program		254			(1	)		—			255			66						—			—			—		189			0.13
Intangible asset impairment charges		32			—			—			32			8						—			—			—		24			0.02
Mark-to-market (gains)/losses from derivatives		(138	)		—			(4	)		(134	)		(18	)					—			—			—		(116	)		(0.08	)
Acquisition integration costs and contingent consideration adjustments		3			—			—			3			1						—			—			—		2			—
Acquisition-related costs		24			—			—			24			4						—			—			—		20			0.01
Net earnings from divestitures		(2	)		—			—			(2	)		(6	)					—			24			—		(20	)		(0.01	)
Gain on acquisition		(9	)		—			—			(9	)		(2	)					—			—			—		(7	)		—
Remeasurement of net monetary position		8			—			—			8			—						—			—			—		8			—
Impact from pension participation changes		45			14			(6	)		37			8						—			—			—		29			0.02
Impact from resolution of tax matters		(5	)		—			2			(7	)		(1	)					—			—			—		(6	)		—
Loss on debt extinguishment and related expenses		—			—			(137	)		137			34						—			—			—		103			0.07
Initial impacts from enacted tax law changes		—			—			—			—			(99	)					—			—			—		99			0.07
Gain on equity method investment transactions		—			—			—			—			(125	)					495			—			—		(370	)		(0.26	)
Equity method investee items		—			—			—			—			3						—			(62	)		—		59			0.04

Adjusted (Non-GAAP)	$	2,367		$	(85	)	$	131		$	2,321		$	483			20.8	%	$	—		$	(223	)	$	8	$	2,053		$	1.45
Net earnings from divestiture - Argentina business		(3	)		—			—			(3	)		(1	)					—			—			—		(2	)		—
Net earnings from divestiture - KHC license		—			—			—			—			—						—			—			—		—			—
Net earnings from divestiture - JDEP		—			—			—			—			—						—			9			—		(9	)		(0.01	)
Change in equity method investee items		—			—			—			—			—						—			7			—		(7	)		(0.01	)

Adjusted (Non-GAAP) - As Recast	$	2,364		$	(85	)	$	131		$	2,318		$	482			20.8	%	$	—		$	(207	)	$	8	$	2,035		$	1.43

Diluted Average Shares Outstanding																															1,419

⁽¹⁾	Taxes were computed for each of the items excluded from the company’s GAAP results based on the facts and tax assumptions associated with each item.

Schedule 4.b

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Net Earnings and Tax Rate

(in millions of U.S. dollars and shares, except per share data)

(Unaudited)


	For the Three Months Ended June 30, 2022
	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)	$	927		$	(30	)	$	98		$	859		$	201			23.4	%	$	8		$	(98	)	$	1	$	747		$	0.54
Simplify to Grow Program		22			(1	)		—			23			6						—			—			—		17			0.01
Mark-to-market (gains)/losses from derivatives		109			—			(19	)		128			14						—			—			—		114			0.08
Acquisition integration costs and contingent consideration adjustments		37			—			—			37			1						—			—			—		36			0.03
Acquisition-related costs		5			—			—			5			2						—			—			—		3			—
Divestiture-related costs		5			—			—			5			1						—			—			—		4			—
Remeasurement of net monetary position		10			—			—			10			—						—			—			—		10			0.01
Impact from pension participation changes		—			—			(2	)		2			—						—			—			—		2			—
Incremental costs due to war in Ukraine		(15	)		—			—			(15	)		—						—			—			—		(15	)		(0.01	)
Initial impacts from enacted tax law changes		—			—			—			—			(9	)					—			—			—		9			0.01
Loss on equity method investment transactions		—			—			—			—			—						(8	)		—			—		8			0.01
Equity method investee items		—			—			—			—			(2	)					—			12			—		(10	)		(0.01	)

Adjusted (Non-GAAP)	$	1,100		$	(31	)	$	77		$	1,054		$	214			20.3	%	$	—		$	(86	)	$	1	$	925		$	0.67
Net earnings from divestiture - Argentina business		(3	)		—			—			(3	)		—						—			—			—		(3	)		—
Net earnings from divestiture - KHC license		—			—			—			—			—						—			—			—		—			—
Net earnings from divestiture - JDEP		—			—			—			—			—						—			7			—		(7	)		(0.01	)
Change in equity method investee items		—			—			—			—			—						—			(1	)		—		1			—

Adjusted (Non-GAAP) - As Recast	$	1,097		$	(31	)	$	77		$	1,051		$	214			20.4	%	$	—		$	(80	)	$	1	$	916		$	0.66

Currency																												73			0.05

Adjusted @ Constant FX (Non-GAAP) - As Recast																											$	989		$	0.71

Diluted Average Shares Outstanding																															1,389


	For the Three Months Ended June 30, 2021
	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)	$	872		$	(54	)	$	58		$	868		$	398			45.9	%	$	(502	)	$	(107	)	$	1	$	1,078		$	0.76
Simplify to Grow Program		132			(1	)		—			133			35						—			—			—		98			0.07
Intangible asset impairment charges		32			—			—			32			8						—			—			—		24			0.02
Mark-to-market (gains)/losses from derivatives		(20	)		—			(3	)		(17	)		4						—			—			—		(21	)		(0.02	)
Acquisition integration costs and contingent consideration adjustments		2			—			—			2			1						—			—			—		1			—
Acquisition-related costs		17			—			—			17			3						—			—			—		14			0.01
Net earnings from divestitures		(2	)		—			—			(2	)		(3	)					—			10			—		(9	)		—
Remeasurement of net monetary position		3			—			—			3			—						—			—			—		3			—
Impact from pension participation changes		44			14			(3	)		33			7						—			—			—		26			0.02
Impact from resolution of tax matters		(5	)		—			2			(7	)		(1	)					—			—			—		(6	)		—
Initial impacts from enacted tax law changes		—			—			—			—			(95	)					—			—			—		95			0.07
Gain on equity method investment transactions		—			—			—			—			(125	)					502			—			—		(377	)		(0.27	)
Equity method investee items		—			—			—			—			1						—			(5	)		—		4			—

Adjusted (Non-GAAP)	$	1,075		$	(41	)	$	54		$	1,062		$	233			21.9	%	$	—		$	(102	)	$	1	$	930		$	0.66

Net earnings from divestiture - Argentina business		(2	)		—			—			(2	)		(1	)					—			—			—		(1	)		—
Net earnings from divestiture - KHC license		—			—			—			—			—						—			—			—		—			—
Net earnings from divestiture - JDEP		—			—			—			—			—						—			7			—		(7	)		(0.01	)
Change in equity method investee items		—			—			—			—			—						—			—			—		—			—

Adjusted (Non-GAAP) - As Recast	$	1,073		$	(41	)	$	54		$	1,060		$	232			21.9	%	$	—		$	(95	)	$	1	$	922		$	0.65

Diluted Average Shares Outstanding																															1,416

⁽¹⁾	Taxes were computed for each of the items excluded from the company’s GAAP results based on the facts and tax assumptions associated with each item.

Schedule 4.c

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Net Earnings and Tax Rate

(in millions of U.S. dollars and shares, except per share data)

(Unaudited)


	For the Three Months Ended March 31, 2022
	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)	$	1,094		$	(33	)	$	168		$	959		$	210			21.9	%	$	5		$	(117	)	$	6	$	855		$	0.61
Simplify to Grow Program		31			—			—			31			7						—			—			—		24			0.02
Intangible asset impairment charges		78			—			—			78			19						—			—			—		59			0.04
Mark-to-market (gains)/losses from derivatives		(27	)		—			1			(28	)		5						—			—			—		(33	)		(0.02	)
Acquisition integration costs and contingent consideration adjustments		32			—			(3	)		35			50						—			—			—		(15	)		(0.01	)
Acquisition-related costs		21			—			—			21			1						—			—			—		20			0.02
Divestiture-related costs		1			—			—			1			—						—			—			—		1			—
Remeasurement of net monetary position		5			—			—			5			—						—			—			—		5			—
Impact from pension participation changes		—			—			(3	)		3			1						—			—			—		2			—
Incremental costs due to war in Ukraine		143			—			—			143			(2	)					—			—			—		145			0.11
Loss on debt extinguishment and related expenses		—			—			(129	)		129			31						—			—			—		98			0.07
Loss on equity method investment transactions		—			—			—			—			—						(5	)		—			—		5			—
Equity method investee items		—			—			—			—			(3	)					—			1			—		2			—

Adjusted (Non-GAAP)	$	1,378		$	(33	)	$	34		$	1,377		$	319			23.2	%	$	—		$	(116	)	$	6	$	1,168		$	0.84
Net earnings from divestiture - Argentina business		(2	)		—			—			(2	)		(1	)					—			—			—		(1	)		—
Net earnings from divestiture - KHC license		1			—			—			1			1						—			—			—		—			—
Net earnings from divestiture - JDEP		—			—			—			—			—						—			7			—		(7	)		(0.01	)
Change in equity method investee items		—			—			—			—			—						—			2			—		(2	)		—

Adjusted (Non-GAAP) - As Recast	$	1,377		$	(33	)	$	34		$	1,376		$	319			23.2	%	$	—		$	(107	)	$	6	$	1,158		$	0.83

Currency																												84			0.06

Adjusted @ Constant FX (Non-GAAP) - As Recast																											$	1,242		$	0.89

Diluted Average Shares Outstanding																															1,398


	For the Three Months Ended March 31, 2021
	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)	$	1,283		$	(44	)	$	218		$	1,109		$	212			19.1	%	$	7		$	(78	)	$	7	$	961		$	0.68
Simplify to Grow Program		122			—			—			122			31						—			—			—		91			0.07
Mark-to-market (gains)/losses from derivatives		(118	)		—			(1	)		(117	)		(22	)					—			—			—		(95	)		(0.07	)
Acquisition integration costs and contingent consideration adjustments		1			—			—			1			—						—			—			—		1			—
Acquisition-related costs		7			—			—			7			1						—			—			—		6			0.01
Net earnings from divestitures		—			—			—			—			(3	)					—			14			—		(11	)		(0.01	)
Gain on acquisition		(9	)		—			—			(9	)		(2	)					—			—			—		(7	)		—
Remeasurement of net monetary position		5			—			—			5			—						—			—			—		5			—
Impact from pension participation changes		1			—			(3	)		4			1						—			—			—		3			—
Loss on debt extinguishment and related expenses		—			—			(137	)		137			34						—			—			—		103			0.07
Initial impacts from enacted tax law changes		—			—			—			—			(4	)					—			—			—		4			—
Loss on equity method investment transactions		—			—			—			—			—						(7	)		—			—		7			—
Equity method investee items		—			—			—			—			2						—			(57	)		—		55			0.04

Adjusted (Non-GAAP)	$	1,292		$	(44	)	$	77		$	1,259		$	250			19.9	%	$	—		$	(121	)	$	7	$	1,123		$	0.79
Net earnings from divestiture - Argentina business		(1	)		—			—			(1	)		—						—			—			—		(1	)		—
Net earnings from divestiture - KHC license		—			—			—			—			—						—			—			—		—			—
Net earnings from divestiture - JDEP		—			—			—			—			—						—			2			—		(2	)		—
Change in equity method investee items		—			—			—			—			—						—			7			—		(7	)		(0.01	)

Adjusted (Non-GAAP) - As Recast	$	1,291		$	(44	)	$	77		$	1,258		$	250			19.9	%	$	—		$	(112	)	$	7	$	1,113		$	0.78

Diluted Average Shares Outstanding																															1,422

⁽¹⁾	Taxes were computed for each of the items excluded from the company’s GAAP results based on the facts and tax assumptions associated with each item.

Schedule 4.d

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Net Earnings and Tax Rate

(in millions of U.S. dollars and shares, except per share data)

(Unaudited)


	For the Twelve Months Ended December 31, 2021
	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)	$	4,653		$	(163	)	$	447		$	4,369		$	1,190			27.2	%	$	(742	)	$	(393	)	$	14	$	4,300		$	3.04
Simplify to Grow Program		319			(2	)		—			321			83						—			—			—		238			0.17
Intangible asset impairment charges		32			—			—			32			8						—			—			—		24			0.02
Mark-to-market (gains)/losses from derivatives		(279	)		—			(4	)		(275	)		(44	)					2			—			—		(233	)		(0.17	)
Acquisition integration costs and contingent consideration adjustments		(40	)		—			—			(40	)		(12	)					—			—			—		(28	)		(0.02	)
Acquisition-related costs		25			—			—			25			4						—			—			—		21			0.01
Divestiture-related costs		22			—			—			22			8						—			—			—		14			0.01
Net earnings from divestitures		(5	)		—			—			(5	)		(9	)					—			29			—		(25	)		(0.02	)
Net gain on acquisition and divestitures		(8	)		—			—			(8	)		(3	)					—			—			—		(5	)		—
Remeasurement of net monetary position		13			—			—			13			—						—			—			—		13			0.01
Impact from pension participation changes		48			17			(11	)		42			8						—			—			—		34			0.02
Impact from resolution of tax matters		(5	)		—			2			(7	)		(1	)					—			—			—		(6	)		—
Loss on debt extinguishment and related expenses		—			—			(137	)		137			34						—			—			—		103			0.07
Initial impacts from enacted tax law changes		—			—			—			—			(100	)					—			—			—		100			0.07
Gain on equity method investment transactions		—			—			—			—			(184	)					740			—			—		(556	)		(0.39	)
Equity method investee items		—			—			—			—			4						—			(68	)		—		64			0.05

Adjusted (Non-GAAP)	$	4,775		$	(148	)	$	297		$	4,626		$	986			21.3	%	$	—		$	(432	)	$	14	$	4,058		$	2.87
Net earnings from divestiture - Argentina business		(10	)		—			—			(10	)		(3	)					—			—			—		(7	)		—
Net earnings from divestiture - KHC license		—			—			—			—									—			—			—		—			—
Net earnings from divestiture - JDEP		—			—			—			—			—						—			24			—		(24	)		(0.02	)
Change in equity method investee items		—			—			—			—			—						—			7			—		(7	)		—

Adjusted (Non-GAAP) - As Recast	$	4,765		$	(148	)	$	297		$	4,616		$	983			21.3	%	$	—		$	(401	)	$	14	$	4,020		$	2.85

Currency																												(118	)		(0.09	)

Adjusted @ Constant FX (Non-GAAP) - As Recast																											$	3,902		$	2.76

Diluted Average Shares Outstanding																															1,413


	For the Twelve Months Ended December 31, 2020
	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)	$	3,853		$	(138	)	$	608		$	3,383		$	1,224			36.2	%	$	(989	)	$	(421	)	$	14	$	3,555		$	2.47
Simplify to Grow Program		360			(3	)		—			363			81						—			—			—		282			0.20
Intangible asset impairment charges		144			—			—			144			33						—			—			—		111			0.08
Mark-to-market (gains)/losses from derivatives		(16	)		—			3			(19	)		(8	)					—			—			—		(11	)		(0.01	)
Acquisition integration costs		4			—			—			4			2						—			—			—		2			—
Acquisition-related costs		15			—			—			15			—						—			—			—		15			0.01
Divestiture-related costs		4			—			—			4			—						—			—			—		4			—
Net earnings from divestitures		—			—			—			—			(26	)					—			117			—		(91	)		(0.07	)
Costs associated with JDE Peet’s transaction		48			—			—			48			(250	)					—			—			—		298			0.20
Remeasurement of net monetary position		9			—			—			9			—						—			—			—		9			0.01
Impact from pension participation changes		—			—			(11	)		11			2						—			—			—		9			0.01
Impact from resolution of tax matters		(20	)		—			28			(48	)		(16	)					—			—			—		(32	)		(0.02	)
Loss related to interest rate swaps		—			—			(103	)		103			24						—			—			—		79			0.05
Loss on debt extinguishment and related expenses		—			—			(185	)		185			46						—			—			—		139			0.10
Initial impacts from enacted tax law changes		—			—			—			—			(36	)					—			—			—		36			0.02
Gain on equity method investment transactions		—			—			—			—			(202	)					989			—			—		(787	)		(0.55	)
Equity method investee items		—			—			—			—			4						—			(80	)		—		76			0.06

Adjusted (Non-GAAP)	$	4,401		$	(141	)	$	340		$	4,202		$	878			20.9	%	$	—		$	(384	)	$	14	$	3,694		$	2.56

Net earnings from divestiture - Argentina business		(2	)		—			—			(2	)		—						—			—			—		(2	)		—
Net earnings from divestiture - KHC license		—			—			—			—			—						—			—			—		—			—
Net earnings from divestiture - JDEP		—			—			—			—			—						—			18			—		(18	)		(0.01	)
Change in equity method investee items		—			—			—			—			—						—			8			—		(8	)		(0.01	)

Adjusted (Non-GAAP) - As Recast	$	4,399		$	(141	)	$	340		$	4,200		$	878			20.9	%	$	—		$	(358	)	$	14	$	3,666		$	2.54

Diluted Average Shares Outstanding																															1,441

⁽¹⁾	Taxes were computed for each of the items excluded from the company’s GAAP results based on the facts and tax assumptions associated with each item.

Schedule 4.e

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Net Earnings and Tax Rate

(in millions of U.S. dollars and shares, except per share data)

(Unaudited)


	For the Three Months Ended December 31, 2021
	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)	$	1,204		$	(28	)	$	89		$	1,143		$	238			20.8	%	$	3		$	(103	)	$	2	$	1,003		$	0.71
Simplify to Grow Program		(62	)		(1	)		—			(61	)		(15	)					—			—			—		(46	)		(0.03	)
Mark-to-market (gains)/losses from derivatives		(9	)		—			—			(9	)		(2	)					—			—			—		(7	)		—
Acquisition integration costs and contingent consideration adjustments		14			—			—			14			2						—			—			—		12			0.01
Acquisition-related costs		1			—			—			1			—						—			—			—		1			—
Divestiture-related costs		22			—			—			22			8						—			—			—		14			0.01
Loss on divestiture		1			—			—			1			(1	)					—			—			—		2			—
Remeasurement of net monetary position		3			—			—			3			—						—			—			—		3			—
Impact from pension participation changes		1			—			(3	)		4			—						—			—			—		4			—
Initial impacts from enacted tax law changes		—			—			—			—			(5	)					—			—			—		5			—
Loss on equity method investment transactions		—			—			—			—			—						(3	)		—			—		3			—
Equity method investee items		—			—			—			—			1						—			(11	)		—		10			0.01

Adjusted (Non-GAAP)	$	1,175		$	(29	)	$	86		$	1,118		$	226			20.2	%	$	—		$	(114	)	$	2	$	1,004		$	0.71
Net earnings from divestiture - Argentina business		(4	)		—			—			(4	)		(1	)					—			—			—		(3	)		—
Net earnings from divestiture - KHC license		—			—			—			—			—						—			—			—		—			—
Net earnings from divestiture - JDEP		—			—			—			—			—						—			7			—		(7	)		—
Change in equity method investee items		—			—			—			—			—						—			1			—		(1	)		—

Adjusted (Non-GAAP) - As Recast	$	1,171		$	(29	)	$	86		$	1,114		$	225			20.2	%	$	—		$	(106	)	$	2	$	993		$	0.71

Currency																												13			0.01

Adjusted @ Constant FX (Non-GAAP) - As Recast																											$	1,006		$	0.72

Diluted Average Shares Outstanding																															1,405


	For the Three Months Ended December 31, 2020
	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)	$	1,149		$	(36	)	$	244		$	941		$	344			36.6	%	$	(452	)	$	(110	)	$	3	$	1,156		$	0.80
Simplify to Grow Program		112			1			—			111			26						—			—			—		85			0.06
Mark-to-market (gains)/losses from derivatives		(58	)		—			(1	)		(57	)		(13	)					—			—			—		(44	)		(0.03	)
Acquisition integration costs		2			—			—			2			2						—			—			—		—			—
Net earnings from divestitures		—			—			—			—			(6	)					—			27			—		(21	)		(0.01	)
Costs associated with JDE Peet’s transaction		—			—			—			—			11						—			—			—		(11	)		(0.01	)
Remeasurement of net monetary position		2			—			—			2			—						—			—			—		2			—
Impact from pension participation changes		—			—			(2	)		2			—						—			—			—		2			—
Impact from resolution of tax matters		(20	)		—			28			(48	)		(16	)					—			—			—		(32	)		(0.02	)
Loss on debt extinguishment and related expenses		—			—			(185	)		185			46						—			—			—		139			0.10
Initial impacts from enacted tax law changes		—			—			—			—			(6	)					—			—			—		6			—
Gain on equity method investment transactions		—			—			—			—			(108	)					452			—			—		(344	)		(0.24	)
Equity method investee items		—			—			—			—			—						—			(14	)		—		14			0.01
Rounding		1			—			—			1			—						—			—			—		1			—

Adjusted (Non-GAAP)	$	1,188		$	(35	)	$	84		$	1,139		$	280			24.6	%	$	—		$	(97	)	$	3	$	953		$	0.66
Net earnings from divestiture - Argentina business		—			—			—			—			1						—			—			—		(1	)		—
Net earnings from divestiture - KHC license		1			—			—			1			1						—			—			—		—			—
Net earnings from divestiture - JDEP		—			—			—			—			—						—			4			—		(4	)		—
Change in equity method investee items		—			—			—			—			—						—			1			—		(1	)		—

Adjusted (Non-GAAP) - As Recast	$	1,189		$	(35	)	$	84		$	1,140		$	282			24.7	%	$	—		$	(92	)	$	3	$	947		$	0.66

Diluted Average Shares Outstanding																															1,439

⁽¹⁾	Taxes were computed for each of the items excluded from the company’s GAAP results based on the facts and tax assumptions associated with each item.

Schedule 4.f

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Net Earnings and Tax Rate

(in millions of U.S. dollars and shares, except per share data)

(Unaudited)


	For the Three Months Ended September 30, 2021
	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)	$	1,294		$	(37	)	$	82		$	1,249		$	342			27.4	%	$	(250	)	$	(105	)	$	4	$	1,258		$	0.89
Simplify to Grow Program		127			—			—			127			32						—			—			—		95			0.06
Mark-to-market (gains)/losses from derivatives		(132	)		—			—			(132	)		(24	)					2			—			—		(110	)		(0.08	)
Acquisition integration costs and contingent consideration adjustments		(57	)		—			—			(57	)		(15	)					—			—			—		(42	)		(0.03	)
Net earnings from divestitures		(3	)		—			—			(3	)		(3	)					—			5			—		(5	)		—
Remeasurement of net monetary position		2			—			—			2			—						—			—			—		2			—
Impact from pension participation changes		2			3			(2	)		1			—						—			—			—		1			—
Initial impacts from enacted tax law changes		—			—			—			—			4						—			—			—		(4	)		—
Gain on equity method investment transactions		—			—			—			—			(59	)					248			—			—		(189	)		(0.13	)
Equity method investee items		—			—			—			—			—						—			5			—		(5	)		—

Adjusted (Non-GAAP)	$	1,233		$	(34	)	$	80		$	1,187		$	277			23.3	%	$	—		$	(95	)	$	4	$	1,001		$	0.71
Net earnings from divestiture - Argentina business		(3	)		—			—			(3	)		(1	)					—			—			—		(2	)		—
Net earnings from divestiture - KHC license		—			—			—			—									—			—			—		—			—
Net earnings from divestiture - JDEP		—			—			—			—			—						—			8			—		(8	)		(0.01	)
Change in equity method investee items		—			—			—			—			—						—			(1	)		—		1			—

Adjusted (Non-GAAP) - As Recast	$	1,230		$	(34	)	$	80		$	1,184		$	276			23.3	%	$	—		$	(88	)	$	4	$	992		$	0.70

Currency																												(23	)		(0.01	)

Adjusted @ Constant FX (Non-GAAP) - As Recast																											$	969		$	0.69

Diluted Average Shares Outstanding																															1,408


	For the Three Months Ended September 30, 2020
	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)	$	1,135		$	(38	)	$	89		$	1,084		$	391			36.1	%	$	(345	)	$	(84	)	$	3	$	1,119		$	0.78
Simplify to Grow Program		114			—			—			114			22						—			—			—		92			0.06
Intangible asset impairment charges		54			—			—			54			12						—			—			—		42			0.03
Mark-to-market (gains)/losses from derivatives		(145	)		—			3			(148	)		(27	)					—			—			—		(121	)		(0.08	)
Acquisition-related costs		—			—			—			—			(3	)					—			—			—		3			—
Divestiture-related costs		6			—			—			6			—						—			—			—		6			—
Net earnings from divestitures		—			—			—			—			(10	)					—			28			—		(18	)		(0.01	)
Remeasurement of net monetary position		2			—			—			2			—						—			—			—		2			—
Impact from pension participation changes		—			—			(3	)		3			1						—			—			—		2			—
Initial impacts from enacted tax law changes		—			—			—			—			(30	)					—			—			—		30			0.02
Gain on equity method investment transactions		—			—			—			—			(77	)					345			—			—		(268	)		(0.19	)
Equity method investee items		—			—			—			—			—						—			(34	)		—		34			0.03
Rounding		(1	)		—			—			(1	)		—						—			—			—		(1	)		—

Adjusted (Non-GAAP)	$	1,165		$	(38	)	$	89		$	1,114		$	279			25.0	%	$	—		$	(90	)	$	3	$	922		$	0.64
Net earnings from divestiture - Argentina business		(2	)		—			—			(2	)		(1	)					—			—			—		(1	)		—
Net earnings from divestiture - KHC license		—			—			—			—									—			—			—		—			—
Net earnings from divestiture - JDEP		—			—			—			—			—						—			3			—		(3	)		—
Change in equity method investee items		—			—			—			—			—						—			5			—		(5	)		(0.01	)

Adjusted (Non-GAAP) - As Recast	$	1,163		$	(38	)	$	89		$	1,112		$	278			25.0	%	$	—		$	(82	)	$	3	$	913		$	0.63

Diluted Average Shares Outstanding																															1,442

⁽¹⁾	Taxes were computed for each of the items excluded from the company’s GAAP results based on the facts and tax assumptions associated with each item.

Schedule 4.g

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Net Earnings and Tax Rate

(in millions of U.S. dollars and shares, except per share data)

(Unaudited)


	For the Three Months Ended June 30, 2021
	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)	$	872		$	(54	)	$	58		$	868		$	398			45.9	%	$	(502	)	$	(107	)	$	1	$	1,078		$	0.76
Simplify to Grow Program		132			(1	)		—			133			35						—			—			—		98			0.07
Intangible asset impairment charges		32			—			—			32			8						—			—			—		24			0.02
Mark-to-market (gains)/losses from derivatives		(20	)		—			(3	)		(17	)		4						—			—			—		(21	)		(0.02	)
Acquisition integration costs and contingent consideration adjustments		2			—			—			2			1						—			—			—		1			—
Acquisition-related costs		17			—			—			17			3						—			—			—		14			0.01
Net earnings from divestitures		(2	)		—			—			(2	)		(3	)					—			10			—		(9	)		—
Remeasurement of net monetary position		3			—			—			3			—						—			—			—		3			—
Impact from pension participation changes		44			14			(3	)		33			7						—			—			—		26			0.02
Impact from resolution of tax matters		(5	)		—			2			(7	)		(1	)					—			—			—		(6	)		—
Initial impacts from enacted tax law changes		—			—			—			—			(95	)					—			—			—		95			0.07
Gain on equity method investment transactions		—			—			—			—			(125	)					502			—			—		(377	)		(0.27	)
Equity method investee items		—			—			—			—			1						—			(5	)		—		4			—

Adjusted (Non-GAAP)	$	1,075		$	(41	)	$	54		$	1,062		$	233			21.9	%	$	—		$	(102	)	$	1	$	930		$	0.66
Net earnings from divestiture - Argentina business		(2	)		—			—			(2	)		(1	)					—			—			—		(1	)		—
Net earnings from divestiture - KHC license		—			—			—			—			—						—			—			—		—			—
Net earnings from divestiture - JDEP		—			—			—			—			—						—			7			—		(7	)		(0.01	)
Change in equity method investee items		—			—			—			—			—						—			—			—		—			—

Adjusted (Non-GAAP) - As Recast	$	1,073		$	(41	)	$	54		$	1,060		$	232			21.9	%	$	—		$	(95	)	$	1	$	922		$	0.65

Currency																												(58	)		(0.04	)

Adjusted @ Constant FX (Non-GAAP) - As Recast																											$	864		$	0.61

Diluted Average Shares Outstanding																															1,416


	For the Three Months Ended June 30, 2020
	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)	$	713		$	(31	)	$	85		$	659		$	341			51.7	%	$	(121	)	$	(106	)	$	1	$	544		$	0.38
Simplify to Grow Program		76			(4	)		—			80			20						—			—			—		60			0.04
Intangible asset impairment charges		90			—			—			90			21						—			—			—		69			0.05
Mark-to-market (gains)/losses from derivatives		2			—			—			2			—						—			—			—		2			—
Acquisition integration costs		2			—			—			2			—						—			—			—		2			—
Acquisition-related costs		10			—			—			10			2						—			—			—		8			0.01
Divestiture-related costs		(2	)		—			—			(2	)		—						—			—			—		(2	)		—
Net earnings from divestitures		—			—			—			—			(2	)					—			22			—		(20	)		(0.02	)
Costs associated with JDE Peet’s transaction		48			—			—			48			(261	)					—			—			—		309			0.21
Remeasurement of net monetary position		3			—			—			3			—						—			—			—		3			—
Impact from pension participation changes		—			—			(3	)		3			—						—			—			—		3			—
Gain on equity method investment transactions		—			—			—			—			—						121			—			—		(121	)		(0.08	)
Equity method investee items		—			—			—			—			4						—			(17	)		—		13			0.01

Adjusted (Non-GAAP)	$	942		$	(35	)	$	82		$	895		$	125			14.0	%	$	—		$	(101	)	$	1	$	870		$	0.60
Net earnings from divestiture - Argentina business		1			—			—			1			(1	)					—			—			—		2			—
Net earnings from divestiture - KHC license		—			—			—			—			(2	)					—			—			—		2			—
Net earnings from divestiture - JDEP		—			—			—			—			—						—			6			—		(6	)		—
Change in equity method investee items		—			—			—			—			—						—			—			—		—			—

Adjusted (Non-GAAP) - As Recast	$	943		$	(35	)	$	82		$	896		$	122			13.6	%	$	—		$	(95	)	$	1	$	868		$	0.60

Diluted Average Shares Outstanding																															1,439

⁽¹⁾	Taxes were computed for each of the items excluded from the company’s GAAP results based on the facts and tax assumptions associated with each item.

Schedule 4.h

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Net Earnings and Tax Rate

(in millions of U.S. dollars and shares, except per share data)

(Unaudited)


	For the Three Months Ended March 31, 2021
	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)	$	1,283		$	(44	)	$	218		$	1,109		$	212			19.1	%	$	7		$	(78	)	$	7	$	961		$	0.68
Simplify to Grow Program		122			—			—			122			31						—			—			—		91			0.07
Mark-to-market (gains)/losses from derivatives		(118	)		—			(1	)		(117	)		(22	)					—			—			—		(95	)		(0.07	)
Acquisition integration costs and contingent consideration adjustments		1			—			—			1			—						—			—			—		1			—
Acquisition-related costs		7			—			—			7			1						—			—			—		6			0.01
Gain on acquisition		(9	)		—			—			(9	)		(2	)					—			—			—		(7	)		—
Net earnings from divestitures		—			—			—			—			(3	)					—			14			—		(11	)		(0.01	)
Remeasurement of net monetary position		5			—			—			5			—						—			—			—		5			—
Impact from pension participation changes		1			—			(3	)		4			1						—			—			—		3			—
Loss on debt extinguishment and related expenses		—			—			(137	)		137			34						—			—			—		103			0.07
Initial impacts from enacted tax law changes		—			—			—			—			(4	)					—			—			—		4			—
Loss on equity method investment transactions		—			—			—			—			—						(7	)		—			—		7			—
Equity method investee items		—			—			—			—			2						—			(57	)		—		55			0.04

Adjusted (Non-GAAP)	$	1,292		$	(44	)	$	77		$	1,259		$	250			19.9	%	$	—		$	(121	)	$	7	$	1,123		$	0.79
Net earnings from divestiture - Argentina business		(1	)		—			—			(1	)		—						—			—			—		(1	)		—
Net earnings from divestiture - KHC license		—			—			—			—			—						—			—			—		—			—
Net earnings from divestiture - JDEP		—			—			—			—			—						—			2			—		(2	)		—
Change in equity method investee items		—			—			—			—			—						—			7			—		(7	)		(0.01	)

Adjusted (Non-GAAP) - As Recast	$	1,291		$	(44	)	$	77		$	1,258		$	250			19.9	%	$	—		$	(112	)	$	7	$	1,113		$	0.78

Currency																												(50	)		(0.03	)

Adjusted @ Constant FX (Non-GAAP) - As Recast																											$	1,063		$	0.75

Diluted Average Shares Outstanding																															1,422


	For the Three Months Ended March 31, 2020
	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)	$	856		$	(33	)	$	190		$	699		$	148			21.2	%	$	(71	)	$	(121	)	$	7	$	736		$	0.51
Simplify to Grow Program		58			—			—			58			13						—			—			—		45			0.03
Mark-to-market (gains)/losses from derivatives		185			—			1			184			32						—			—			—		152			0.11
Acquisition-related costs		5			—			—			5			1						—			—			—		4			—
Net earnings from divestitures		—			—			—			—			(8	)					—			40			—		(32	)		(0.01	)
Remeasurement of net monetary position		2			—			—			2			—						—			—			—		2			—
Impact from pension participation changes		—			—			(3	)		3			1						—			—			—		2			—
Loss related to interest rate swaps		—			—			(103	)		103			24						—			—			—		79			0.05
Gain on equity method investment transactions		—			—			—			—			(17	)					71			—			—		(54	)		(0.04	)
Equity method investee items		—			—			—			—			—						—			(15	)		—		15			0.01

Adjusted (Non-GAAP)	$	1,106		$	(33	)	$	85		$	1,054		$	194			18.4	%	$	—		$	(96	)	$	7	$	949		$	0.66
Net earnings from divestiture - Argentina business		(1	)		—			—			(1	)		1						—			—			—		(2	)		—
Net earnings from divestiture - KHC license		(1	)		—			—			(1	)		1						—			—			—		(2	)		—
Net earnings from divestiture - JDEP		—			—			—			—			—						—			5			—		(5	)		(0.01	)
Change in equity method investee items		—			—			—			—			—						—			2			—		(2	)		—

Adjusted (Non-GAAP) - As Recast	$	1,104		$	(33	)	$	85		$	1,052		$	196			18.6	%	$	—		$	(89	)	$	7	$	938		$	0.65

Diluted Average Shares Outstanding																															1,445

⁽¹⁾	Taxes were computed for each of the items excluded from the company’s GAAP results based on the facts and tax assumptions associated with each item.

Schedule 4.i

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Net Earnings and Tax Rate

(in millions of U.S. dollars and shares, except per share data)

(Unaudited)


	For the Twelve Months Ended December 31, 2020
	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)	$	3,853		$	(138	)	$	608		$	3,383		$	1,224			36.2	%	$	(989	)	$	(421	)	$	14	$	3,555		$	2.47
Simplify to Grow Program		360			(3	)		—			363			81						—			—			—		282			0.20
Intangible asset impairment charges		144			—			—			144			33						—			—			—		111			0.08
Mark-to-market (gains)/losses from derivatives		(16	)		—			3			(19	)		(8	)					—			—			—		(11	)		(0.01	)
Acquisition integration costs		4			—			—			4			2						—			—			—		2			—
Acquisition-related costs		15			—			—			15			—						—			—			—		15			0.01
Divestiture-related costs		4			—			—			4			—						—			—			—		4			—
Net earnings from divestitures		—			—			—			—			(26	)					—			117			—		(91	)		(0.07	)
Costs associated with JDE Peet’s transaction		48			—			—			48			(250	)					—			—			—		298			0.20
Remeasurement of net monetary position		9			—			—			9			—						—			—			—		9			0.01
Impact from pension participation changes		—			—			(11	)		11			2						—			—			—		9			0.01
Impact from resolution of tax matters		(20	)		—			28			(48	)		(16	)					—			—			—		(32	)		(0.02	)
Loss related to interest rate swaps		—			—			(103	)		103			24						—			—			—		79			0.05
Loss on debt extinguishment and related expenses		—			—			(185	)		185			46						—			—			—		139			0.10
Initial impacts from enacted tax law changes		—			—			—			—			(36	)					—			—			—		36			0.02
Gain on equity method investment transactions		—			—			—			—			(202	)					989			—			—		(787	)		(0.55	)
Equity method investee items		—			—			—			—			4						—			(80	)		—		76			0.06

Adjusted (Non-GAAP)	$	4,401		$	(141	)	$	340		$	4,202		$	878			20.9	%	$	—		$	(384	)	$	14	$	3,694		$	2.56
Net earnings from divestiture - Argentina business		(2	)		—			—			(2	)		—						—			—			—		(2	)		—
Net earnings from divestiture - KHC license		—			—			—			—			—						—			—			—		—			—
Net earnings from divestiture - JDEP		—			—			—			—			—						—			18			—		(18	)		(0.01	)
Change in equity method investee items		—			—			—			—			—						—			8			—		(8	)		(0.01	)

Adjusted (Non-GAAP) - As Recast	$	4,399		$	(141	)	$	340		$	4,200		$	878			20.9	%	$	—		$	(358	)	$	14	$	3,666		$	2.54

Currency																												49			0.04

Adjusted @ Constant FX (Non-GAAP) - As Recast																											$	3,715		$	2.58

Diluted Average Shares Outstanding																															1,441


	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	)		(23	)					—			130			—		(116	)		(0.08	)
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
Initial impacts from enacted tax law changes		2			—			—			2			754						—			—			—		(752	)		(0.52	)
Loss on equity method investment transactions		—			—			—			—			(6	)					(2	)		—			—		8			0.01
Equity method investee items		—			—			—			—			3						—			17			—		(20	)		(0.01	)

Adjusted (Non-GAAP)	$	4,264		$	(66	)	$	338		$	3,992		$	839			21.0	%	$	—		$	(354	)	$	15	$	3,492		$	2.40
Net earnings from divestiture - Argentina business		(5	)		—			—			(5	)		(2	)					—			—			—		(3	)		—
Net earnings from divestiture - KHC license		(2	)		—			—			(2	)		(1	)					—			—			—		(1	)		—
Net earnings from divestiture - JDEP		—			—			—			—			—						—			29			—		(29	)		(0.02	)
Change in equity method investee items		—			—			—			—			—						—			(5	)		—		5			—

Adjusted (Non-GAAP) - As Recast	$	4,257		$	(66	)	$	338		$	3,985		$	836			21.0	%	$	—		$	(330	)	$	15	$	3,464		$	2.38

Diluted Average Shares Outstanding																															1,458

⁽¹⁾	Taxes were computed for each of the items excluded from the company’s GAAP results based on the facts and tax assumptions associated with each item.

Schedule 5.a

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Diluted EPS

(Unaudited)


	For the Six Months Ended June 30,
	2022			2021			$ Change			% Change
Diluted EPS attributable to Mondelēz International (GAAP)	$	1.15		$	1.44		$	(0.29	)		(20.1	)%
Simplify to Grow Program		0.03			0.13			(0.10	)
Intangible asset impairment charges		0.04			0.02			0.02
Mark-to-market (gains)/losses from derivatives		0.06			(0.08	)		0.14
Acquisition integration costs and contingent consideration adjustments		0.02			—			0.02
Acquisition-related costs		0.02			0.01			0.01
Net earnings from divestitures		—			(0.01	)		0.01
Remeasurement of net monetary position		0.01			—			0.01
Impact from pension participation changes		—			0.02			(0.02	)
Incremental costs due to war in Ukraine		0.09			—			0.09
Loss on debt extinguishment and related expenses		0.07			0.07			—
Initial impacts from enacted tax law changes		0.01			0.07			(0.06	)
(Gain)/loss on equity method investment transactions		0.01			(0.26	)		0.27
Equity method investee items		(0.01	)		0.04			(0.05	)

Adjusted EPS (Non-GAAP)	$	1.50		$	1.45		$	0.05			3.4	%
Net earnings from divestiture - Argentina business		—			—			—
Net earnings from divestiture - KHC license		—			—			—
Net earnings from divestiture - JDEP		(0.01	)		(0.01	)		—
Change in equity method investee items		—			(0.01	)		0.01

Adjusted EPS (Non-GAAP) - As Recast	$	1.49		$	1.43		$	0.06			4.2	%
Impact of unfavorable currency		0.11			—			0.11

Adjusted EPS @ Constant FX (Non-GAAP) - As Recast	$	1.60		$	1.43		$	0.17			11.9	%

Schedule 5.b

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Diluted EPS

(Unaudited)


	For the Three Months Ended June 30,
	2022			2021			$ Change			% Change
Diluted EPS attributable to Mondelēz International (GAAP)	$	0.54		$	0.76		$	(0.22	)		(28.9	)%
Simplify to Grow Program		0.01			0.07			(0.06	)
Intangible asset impairment charges		—			0.02			(0.02	)
Mark-to-market (gains)/losses from derivatives		0.08			(0.02	)		0.10
Acquisition integration costs and contingent consideration adjustments		0.03			—			0.03
Acquisition-related costs		—			0.01			(0.01	)
Remeasurement of net monetary position		0.01			—			0.01
Impact from pension participation changes		—			0.02			(0.02	)
Incremental costs due to war in Ukraine		(0.01	)		—			(0.01	)
Initial impacts from enacted tax law changes		0.01			0.07			(0.06	)
(Gain)/loss on equity method investment transactions		0.01			(0.27	)		0.28
Equity method investee items		(0.01	)		—			(0.01	)

Adjusted EPS (Non-GAAP)	$	0.67		$	0.66		$	0.01			1.5	%
Net earnings from divestiture - Argentina business		—			—			—
Net earnings from divestiture - KHC license		—			—			—
Net earnings from divestiture - JDEP		(0.01	)		(0.01	)		—
Change in equity method investee items		—			—			—

Adjusted EPS (Non-GAAP) - As Recast	$	0.66		$	0.65		$	0.01			1.5	%
Impact of unfavorable currency		0.05			—			0.05

Adjusted EPS @ Constant FX (Non-GAAP) - As Recast	$	0.71		$	0.65		$	0.06			9.2	%

Schedule 5.c

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Diluted EPS

(Unaudited)


	For the Three Months Ended March 31,
	2022			2021			$ Change			% Change
Diluted EPS attributable to Mondelēz International (GAAP)	$	0.61		$	0.68		$	(0.07	)		(10.3	)%
Simplify to Grow Program		0.02			0.07			(0.05	)
Intangible asset impairment charges		0.04			—			0.04
Mark-to-market (gains)/losses from derivatives		(0.02	)		(0.07	)		0.05
Acquisition integration costs and contingent consideration adjustments		(0.01	)		—			(0.01	)
Acquisition-related costs		0.02			0.01			0.01
Net earnings from divestitures		—			(0.01	)		0.01
Incremental costs due to war in Ukraine		0.11			—			0.11
Loss on debt extinguishment and related expenses		0.07			0.07			—
Equity method investee items		—			0.04			(0.04	)

Adjusted EPS (Non-GAAP)	$	0.84		$	0.79		$	0.05			6.3	%
Net earnings from divestiture - Argentina business		—			—			—
Net earnings from divestiture - KHC license		—			—			—
Net earnings from divestiture - JDEP		(0.01	)		—			(0.01	)
Change in equity method investee items		—			(0.01	)		0.01

Adjusted EPS (Non-GAAP) - As Recast	$	0.83		$	0.78		$	0.05			6.4	%
Impact of unfavorable currency		0.06			—			0.06

Adjusted EPS @ Constant FX (Non-GAAP) - As Recast	$	0.89		$	0.78		$	0.11			14.1	%

Schedule 5.d

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Diluted EPS

(Unaudited)


	For the Twelve Months Ended December 31,
	2021			2020			$ Change			% Change
Diluted EPS attributable to Mondelēz International (GAAP)	$	3.04		$	2.47		$	0.57			23.1	%
Simplify to Grow Program		0.17			0.20			(0.03	)
Intangible asset impairment charges		0.02			0.08			(0.06	)
Mark-to-market (gains)/losses from derivatives		(0.17	)		(0.01	)		(0.16	)
Acquisition integration costs and contingent consideration adjustments		(0.02	)		—			(0.02	)
Acquisition-related costs		0.01			0.01			—
Divestiture-related costs		0.01			—			0.01
Net earnings from divestitures		(0.02	)		(0.07	)		0.05
Costs associated with JDE Peet’s transaction		—			0.20			(0.20	)
Remeasurement of net monetary position		0.01			0.01			—
Impact from pension participation changes		0.02			0.01			0.01
Impact from resolution of tax matters		—			(0.02	)		0.02
Loss related to interest rate swaps		—			0.05			(0.05	)
Loss on debt extinguishment and related expenses		0.07			0.10			(0.03	)
Initial impacts from enacted tax law changes		0.07			0.02			0.05
Gain on equity method investment transactions		(0.39	)		(0.55	)		0.16
Equity method investee items		0.05			0.06			(0.01	)

Adjusted EPS (Non-GAAP)	$	2.87		$	2.56		$	0.31			12.1	%
Net earnings from divestiture - Argentina business		—			—			—
Net earnings from divestiture - KHC license		—			—			—
Net earnings from divestiture - JDEP		(0.02	)		(0.01	)		(0.01	)
Change in equity method investee items		—			(0.01	)		0.01

Adjusted EPS (Non-GAAP) - As Recast	$	2.85		$	2.54		$	0.31			12.2	%
Impact of favorable currency		(0.09	)		—			(0.09	)

Adjusted EPS @ Constant FX (Non-GAAP) - As Recast	$	2.76		$	2.54		$	0.22			8.7	%

Schedule 5.e

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Diluted EPS

(Unaudited)


	For the Three Months Ended December 31,
	2021			2020			$ Change			% Change
Diluted EPS attributable to Mondelēz International (GAAP)	$	0.71		$	0.80		$	(0.09	)		(11.3	)%
Simplify to Grow Program		(0.03	)		0.06			(0.09	)
Mark-to-market (gains)/losses from derivatives		—			(0.03	)		0.03
Acquisition integration costs and contingent consideration adjustments		0.01			—			0.01
Divestiture-related costs		0.01			—			0.01
Net earnings from divestitures		—			(0.01	)		0.01
Costs associated with JDE Peet’s transaction		—			(0.01	)		0.01
Impact from resolution of tax matters		—			(0.02	)		0.02
Loss on debt extinguishment and related expenses		—			0.10			(0.10	)
Gain on equity method investment transactions		—			(0.24	)		0.24
Equity method investee items		0.01			0.01			—

Adjusted EPS (Non-GAAP)	$	0.71		$	0.66		$	0.05			7.6	%
Net earnings from divestiture - Argentina business		—			—			—
Net earnings from divestiture - KHC license		—			—			—
Net earnings from divestiture - JDEP		—			—			—
Change in equity method investee items		—			—			—

Adjusted EPS (Non-GAAP) - As Recast	$	0.71		$	0.66		$	0.05			7.6	%
Impact of unfavorable currency		0.01			—			0.01

Adjusted EPS @ Constant FX (Non-GAAP) - As Recast	$	0.72		$	0.66		$	0.06			9.1	%

Schedule 5.f

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Diluted EPS

(Unaudited)


	For the Three Months Ended September 30,
	2021			2020			$ Change			% Change
Diluted EPS attributable to Mondelēz International (GAAP)	$	0.89		$	0.78		$	0.11			14.1	%
Simplify to Grow Program		0.06			0.06			—
Intangible asset impairment charges		—			0.03			(0.03	)
Mark-to-market (gains)/losses from derivatives		(0.08	)		(0.08	)		—
Acquisition integration costs and contingent consideration adjustments		(0.03	)		—			(0.03	)
Net earnings from divestitures		—			(0.01	)		0.01
Initial impacts from enacted tax law changes		—			0.02			(0.02	)
Gain on equity method investment transactions		(0.13	)		(0.19	)		0.06
Equity method investee items		—			0.03			(0.03	)

Adjusted EPS (Non-GAAP)	$	0.71		$	0.64		$	0.07			10.9	%
Net earnings from divestiture - Argentina business		—			—			—
Net earnings from divestiture - KHC license		—			—			—
Net earnings from divestiture - JDEP		(0.01	)		—			(0.01	)
Change in equity method investee items		—			(0.01	)		0.01

Adjusted EPS (Non-GAAP) - As Recast	$	0.70		$	0.63		$	0.07			11.1	%
Impact of favorable currency		(0.01	)		—			(0.01	)

Adjusted EPS @ Constant FX (Non-GAAP) - As Recast	$	0.69		$	0.63		$	0.06			9.5	%

Schedule 5.g

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Diluted EPS

(Unaudited)


	For the Three Months Ended June 30,
	2021			2020			$ Change			% Change
Diluted EPS attributable to Mondelēz International (GAAP)	$	0.76		$	0.38		$	0.38			100.0	%
Simplify to Grow Program		0.07			0.04			0.03
Intangible asset impairment charges		0.02			0.05			(0.03	)
Mark-to-market (gains)/losses from derivatives		(0.02	)		—			(0.02	)
Acquisition-related costs		0.01			0.01			—
Net earnings from divestitures		—			(0.02	)		0.02
Costs associated with JDE Peet’s transaction		—			0.21			(0.21	)
Impact from pension participation changes		0.02			—			0.02
Initial impacts from enacted tax law changes		0.07			—			0.07
Gain on equity method investment transactions		(0.27	)		(0.08	)		(0.19	)
Equity method investee items		—			0.01			(0.01	)

Adjusted EPS (Non-GAAP)	$	0.66		$	0.60		$	0.06			10.0	%
Net earnings from divestiture - Argentina business		—			—			—
Net earnings from divestiture - KHC license		—			—			—
Net earnings from divestiture - JDEP		(0.01	)		—			(0.01	)
Change in equity method investee items		—			—			—

Adjusted EPS (Non-GAAP) - As Recast	$	0.65		$	0.60		$	0.05			8.3	%
Impact of favorable currency		(0.04	)		—			(0.04	)

Adjusted EPS @ Constant FX (Non-GAAP) - As Recast	$	0.61		$	0.60		$	0.01			1.7	%

Schedule 5.h

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Diluted EPS

(Unaudited)


	For the Three Months Ended March 31,
	2021			2020			$ Change			% Change
Diluted EPS attributable to Mondelēz International (GAAP)	$	0.68		$	0.51		$	0.17			33.3	%
Simplify to Grow Program		0.07			0.03			0.04
Mark-to-market (gains)/losses from derivatives		(0.07	)		0.11			(0.18	)
Acquisition-related costs		0.01			—			0.01
Net earnings from divestitures		(0.01	)		(0.01	)		—
Loss related to interest rate swaps		—			0.05			(0.05	)
Loss on debt extinguishment and related expenses		0.07			—			0.07
Gain on equity method investment transactions		—			(0.04	)		0.04
Equity method investee items		0.04			0.01			0.03

Adjusted EPS (Non-GAAP)	$	0.79		$	0.66		$	0.13			19.7	%
Net earnings from divestiture - Argentina business		—			—			—
Net earnings from divestiture - KHC license		—			—			—
Net earnings from divestiture - JDEP		—			(0.01	)		0.01
Change in equity method investee items		(0.01	)		—			(0.01	)

Adjusted EPS (Non-GAAP) - As Recast	$	0.78		$	0.65		$	0.13			20.0	%
Impact of favorable currency		(0.03	)		—			(0.03	)

Adjusted EPS @ Constant FX (Non-GAAP) - As Recast	$	0.75		$	0.65		$	0.10			15.4	%

Schedule 5.i

Mondelēz International, Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures

Diluted EPS

(Unaudited)


	For the Twelve Months Ended December 31,
	2020			2019			$ Change			% Change
Diluted EPS attributable to Mondelēz International (GAAP)	$	2.47		$	2.69		$	(0.22	)		(8.2	)%
Simplify to Grow Program		0.20			0.24			(0.04	)
Intangible asset impairment charges		0.08			0.03			0.05
Mark-to-market (gains)/losses from derivatives		(0.01	)		(0.05	)		0.04
Acquisition-related costs		0.01			—			0.01
Net earnings from divestitures		(0.07	)		(0.08	)		0.01
Gain on divestitures		—			(0.03	)		0.03
Costs associated with JDE Peet’s transaction		0.20			—			0.20
Remeasurement of net monetary position		0.01			—			0.01
Impact from pension participation changes		0.01			(0.02	)		0.03
Impact from resolution of tax matters		(0.02	)		0.05			(0.07	)
CEO transition remuneration		—			0.01			(0.01	)
Loss related to interest rate swaps		0.05			0.08			(0.03	)
Loss on debt extinguishment and related expenses		0.10			—			0.10
Initial impacts from enacted tax law changes		0.02			(0.52	)		0.54
(Gain)/loss on equity method investment transactions		(0.55	)		0.01			(0.56	)
Equity method investee items		0.06			(0.01	)		0.07

Adjusted EPS (Non-GAAP)	$	2.56		$	2.40		$	0.16			6.7	%
Net earnings from divestiture - Argentina business		—			—			—
Net earnings from divestiture - KHC license		—			—			—
Net earnings from divestiture - JDEP		(0.01	)		(0.02	)		0.01
Change in equity method investee items		(0.01	)		—			(0.01	)

Adjusted EPS (Non-GAAP) - As Recast	$	2.54		$	2.38		$	0.16			6.7	%
Impact of unfavorable currency		0.04			—			0.04

Adjusted EPS @ Constant FX (Non-GAAP) - As Recast	$	2.58		$	2.38		$	0.20			8.4	%