$MDLZ

KRAFT FOODS INC

CIK:0001103982|SEC Filings

Condensed Consolidated Statements of Earnings - USD ($)
$ in Millions

3 Months Ended

6 Months Ended

Jun. 30, 2026

Jun. 30, 2025

Jun. 30, 2026

Jun. 30, 2025

Income Statement [Abstract]

Net revenues

$ 9,355

$ 8,984

^[1]

$ 19,435

$ 18,297

^[1]

Cost of sales

(5,369)

(6,047)

(12,646)

(12,930)

Gross profit

3,986

2,937

6,789

5,367

Selling, general and administrative expenses

(2,001)

(1,725)

(3,917)

(3,436)

Asset impairments and exit costs

(13)

(2)

(66)

(4)

Gain on divestiture

Amortization of intangible assets

(26)

(38)

(53)

(75)

Operating income

1,946

1,172

2,754

1,852

Benefit plan non-service income/(expense)

(264)

(246)

Interest and other expense, net

(74)

(53)

(138)

(206)

Earnings before income taxes

1,899

855

2,674

1,400

Income tax provision

(364)

(230)

(592)

(384)

Loss on equity method investment transactions

(3)

Equity method investment net earnings

Net earnings

1,552

644

2,116

1,051

less: Noncontrolling interest earnings

(4)

(3)

(8)

Net earnings attributable to Mondelēz International

$ 1,548

$ 641

$ 2,108

$ 1,043

Per share data:

Basic earnings per share attributable to Mondelēz International (in dollars per share)

$ 1.21

$ 0.49

$ 1.64

$ 0.80

Diluted earnings per share attributable to Mondelēz International (in dollars per share)

$ 1.20

$ 0.49

$ 1.64

$ 0.80

[1]

During the first quarter of 2026, we realigned some of our products between our biscuits & baked snacks and chocolate categories in the North America segment; as such, we reclassified $11 million and $19 million of product category net revenues from biscuits & baked snacks to chocolate for the three and six months ended June 30, 2025, respectively, on a basis consistent with the 2026 presentation.

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
CASH PROVIDED BY/(USED IN) OPERATING ACTIVITIES
Net earnings	$ 2,116	$ 1,051
Adjustments to reconcile net earnings to operating cash flows:
Depreciation and amortization	693	663
Stock-based compensation expense	87	65
Deferred income tax provision/(benefit)	149	(69)
Asset impairments and accelerated depreciation	10	9
Gain on divestiture	(1)	0
Loss on equity method investment transactions	3	0
Equity method investment net earnings	(37)	(35)
Distributions from equity method investments	44	44
Unrealized (gain)/loss on derivative contracts	(509)	800
Contingent consideration adjustments	3	(38)
Other non-cash items, net	(5)	105
Change in assets and liabilities, net of acquisitions and divestitures:
Receivables, net	(424)	536
Inventories	(16)	(775)
Accounts payable	(538)	(177)
Other current assets	142	108
Other current liabilities	(296)	(1,125)
Change in pension and postretirement assets and liabilities, net	(99)	238
Net cash provided by operating activities	1,322	1,400
CASH PROVIDED BY/(USED IN) INVESTING ACTIVITIES
Capital expenditures	(654)	(582)
Acquisitions, net of cash received	0	(15)
Proceeds from divestitures	1	4
Proceeds from derivative settlements	179	19
Payments for derivative settlements	(270)	(55)
Proceeds from investments	25	30
Proceeds from sales of property, plant and equipment and other	3	8
Net cash used in investing activities	(716)	(591)
CASH PROVIDED BY/(USED IN) FINANCING ACTIVITIES
Issuances of commercial paper, maturities greater than 90 days	1,584	0
Repayments of commercial paper, maturities greater than 90 days	(587)	0
Net (repayment)/issuance of short-term borrowings	(1,313)	1,589
Long-term debt proceeds	1,074	1,594
Long-term debt repayments	(304)	(1,242)
Repurchases of Common Stock	(212)	(1,653)
Dividends paid	(1,287)	(1,233)
Other	6	83
Net cash used in financing activities	(1,039)	(862)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(3)	240
Cash, cash equivalents and restricted cash:
(Decrease)/increase	(436)	187
Balance at beginning of period	2,195	1,400
Balance at end of period	$ 1,759	$ 1,587

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
ASSETS
Cash and cash equivalents	$ 1,716	$ 2,125
Trade receivables, less allowance ($30 and $35, respectively)	4,010	3,903
Other receivables, less allowance ($35 and $35, respectively)	998	955
Inventories	4,405	4,419
Other current assets	1,809	1,549
Total current assets	12,938	12,951
Property, plant and equipment, net	10,649	10,667
Operating lease right-of-use assets	732	731
Goodwill	24,180	24,336
Intangible assets, net	19,509	19,628
Prepaid pension assets	1,251	1,220
Deferred income taxes	184	336
Equity method investments	619	667
Other assets	1,185	951
TOTAL ASSETS	71,247	71,487
LIABILITIES
Short-term borrowings	2,327	2,688
Current portion of long-term debt	2,663	1,295
Accounts payable	9,411	10,139
Accrued marketing	2,612	2,787
Accrued employment costs	875	1,000
Other current liabilities	3,705	3,955
Total current liabilities	21,593	21,864
Long-term debt	16,460	17,222
Long-term operating lease liabilities	609	599
Deferred income taxes	3,539	3,530
Accrued pension costs	370	422
Accrued postretirement health care costs	72	74
Other liabilities	1,912	1,885
TOTAL LIABILITIES	44,555	45,596
Commitments and Contingencies (Note 8)
EQUITY
Common Stock, no par value (5,000,000,000 shares authorized, 1,996,537,778 shares issued)	0	0
Additional paid-in capital	32,333	32,322
Retained earnings	37,233	36,413
Accumulated other comprehensive losses	(11,283)	(11,364)
Treasury stock, at cost (716,000,458 and 714,961,364 shares, respectively)	(31,644)	(31,533)
Total Mondelēz International Shareholders’ Equity	26,639	25,838
Noncontrolling interest	53	53
TOTAL EQUITY	26,692	25,891
TOTAL LIABILITIES AND EQUITY	$ 71,247	$ 71,487