4c0d64a5339e976be797cfd8ee2632b527a1a6ad3fa433c09d704d9bc7378f8b

The drop in **cash and cash equivalents** to **$1,376 million** in Q1 2024 resulted from significant cash outflows mainly associated with returning capital to shareholders. Specifically, the company returned **$1.1 billion** to shareholders during the quarter, which included **$575 million** in cash dividends and **$566 million** used for common stock repurchases, while the **$1.3 billion** generated from operating activities was not enough to offset these outflows—contributing to a net decline of **$434 million** from December 31, 2023 levels.  **[0001103982-24-000052_mdlzearningsreleasecontent.htm:6]** **[0001103982-24-000055_mdlz-20240331.htm:3]** **[0001103982-24-000052_mdlzearningsreleasecontent.htm:0]** **[0001103982-24-000055_mdlz-20240331.htm:4]** 

Why did Cash and cash equivalents drop to 1,376 in Q1 2024?

Mondelēz International’s **total assets reached $77,624 million in Q1 2024** primarily due to a **substantial increase in other current assets**—rising from **$1,766 million** to **$9,674 million** (an increase of **$7,908 million**)—along with a **moderate rise in trade receivables** (up by **$364 million**). These increases, however, were partially offset by declines in **equity method investments** (a reduction of **$802 million**) and **goodwill** (a decline of **$357 million**).  **[0001103982-24-000052_mdlzearningsreleasecontent.htm:6]** **[0001103982-24-000055_mdlz-20240331.htm:3]** 

What drove Total Assets to reach 77,624 in Q1 2024?

Based on the information available, the documents do not provide specific details explaining the **surge** to **9,674** in Q1 2024 for Other current assets. They note the increase from **$1,766 million** as of December 31, 2023, to **$9,674 million** as of March 31, 2024, but no additional context or disclosures are provided regarding the reasons behind this change.  **[0001103982-24-000055_mdlz-20240331.htm:3]** **[0001103982-24-000052_mdlzearningsreleasecontent.htm:6]** 

What caused Other current assets to surge to 9,674 in Q1 2024?

Mondelēz International’s short-term borrowings increased to **$1,484 million** in Q3 2024 largely due to financing activities during that period. The jump reflects a **$1,064 million** rise from the previous level, which appears to be driven by the need to manage liquidity for significant repayments of several notes—such as **$500 million** notes due in March and September 2024, along with other related repayments—combined with new long-term debt issuances that did not fully offset these short-term needs.  **[0001103982-24-000104_mdlz-20240930.htm:16]** 

Why did Short-term borrowings jump to 1,484 in Q3 2024?

The documents indicate that while there is no detailed explanation, several factors may have contributed to the decrease. **The long-term debt decreased by $1,223 million**, dropping from **$16,887 million** in Q4 2023 to **$15,664 million** in Q4 2024.  **[0001103982-25-000024_mdlzearningsreleasecontent.htm:7]**  Additionally, it is noted that the total debt declined from **$19,408 million** to **$17,749 million**, which suggests an overall reduction in both long- and short-term borrowings.  **[0001103982-25-000024_mdlzearningsreleasecontent.htm:7]**  The availability of a **$2 billion long-term financing authorization**, with **$1.5 billion** remaining available as of the end of 2024, also implies that the company may have strategically utilized its cash flow or financing arrangements to lower its debt levels.  **[0001103982-25-000030_mdlz-20241231.htm:78]** 

What factors contributed to Long-term debt falling to 15,664 in Q4 2024?

b3fe84068dc42ceb8bda800720d77c5c209f09c25deeee637f960dd1bd6b9303

Mondelēz International’s Operating Income was affected primarily by **significant mark-to-market losses on commodity and currency derivatives of $571 million**, which turned what was a gain in Q2 2023 into a substantial loss. In addition, **increased acquisition integration costs and contingent consideration adjustments** (+$12 million), **divestiture–related impacts** (loss of operating results amounting to –$63 million), along with **incremental costs due to the war in Ukraine** and **new ERP system implementation costs** further contributed to the low Operating Income in Q2 2024. These factors collectively led to a **$571 million (40.1%) decline** in Operating Income compared to Q2 2023.  **[0001103982-24-000092_mdlz-20240630.htm:37]** **[0001103982-24-000091_mdlzearningsreleasecontent.htm:26]** **[0001103982-24-000092_mdlz-20240630.htm:36]** 

Why was Operating Income so low in Q2 2024?

The drop in Q2 2024 net earnings was primarily caused by a **significant adverse impact from unfavorable mark-to-market effects** on commodity and currency derivatives, the **divestiture of the developed market gum business** (with the company lapping prior-year operating results), **increased costs** such as acquisition integration and contingent consideration adjustments as well as higher equity method investee items, and **unfavorable impacts from enacted tax law changes**.  **[0001103982-24-000092_mdlz-20240630.htm:39]** **[0001103982-24-000092_mdlz-20240630.htm:34]** **[0001103982-24-000092_mdlz-20240630.htm:36]** 

What caused the drop in Net Earnings in Q2 2024?

The low EPS in Q2 2024 was primarily driven by a combination of factors. **Unfavorable mark-to-market impacts from commodity and currency derivatives**, the **divestiture of the developed market gum business**, **higher costs** (including increased acquisition integration costs, contingent consideration adjustments, and expenses related to the Simplify to Grow program), unfavorable **tax law changes**, and **higher equity method investment losses** all contributed to the lower Basic EPS in that period.  **[0001103982-24-000092_mdlz-20240630.htm:34]** **[0001103982-24-000092_mdlz-20240630.htm:27]** 

What factors led to the low EPS in Q2 2024?

The massive gain on acquisitions in FY 2024 was primarily driven by the **gain on the divestiture of the developed market gum business**.  **[0001103982-25-000030_mdlz-20241231.htm:98]** **[0001103982-25-000030_mdlz-20241231.htm:147]** **[0001103982-25-000030_mdlz-20241231.htm:59]** 

What contributed to the massive gain on acquisitions in FY 2024?

8b39546d2855ff9c500593f7fa9e57ebf664a86614e1f076a47da9c590788ce9

Net Revenues (USD, millions)

Cost of Sales (USD, millions)

Gross Profit (USD, millions)

Selling, General and Administrative Expenses (USD, millions)

Asset Impairment and Exit Costs (USD, millions)

Gain on Acquisition and Divestitures (USD, millions)

Amortization of Intangible Assets (USD, millions)

Operating Income (USD, millions)

Benefit Plan Non-Service Income (USD, millions)

Interest and Other Expense, Net (USD, millions)

Gain on Marketable Securities (USD, millions)

Earnings Before Income Taxes (USD, millions)

Income Tax Provision (USD, millions)

(Loss)/gain on Equity Method Investment Transactions (USD, millions)

Equity Method Investment Net Earnings (USD, millions)

Net Earnings (USD, millions)

Less: Noncontrolling Interest Earnings (USD, millions)

Net Earnings Attributable to Mondelēz International (USD, millions)

Basic Earnings per Share Attributable to Mondelēz International (USD)

Diluted Earnings per Share Attributable to Mondelēz International (USD)

dd73a4b986a9373f7ab33bd56ff3f7ee6cb7ffd8508794946d73ee07e36e6ca0

c9ae2350a75c4b13db55c9062e32a0590ad53d239416297a15cf70209867b4c6

dff7fa4e2ac189ef2157a9e18cec09ed0d9164a046e89d3cdaeaab1f75f0cf66

Total Revenue [USD, Millions]

Cost of Goods Sold (COGS) [USD, Millions]

Selling, General, and Administrative Expenses (SG&A) [USD, Millions]

Research and Development (R&D) [USD, Millions]

Depreciation and Amortization (D&A) [USD, Millions]

Interest Expense [USD, Millions]

Operating Income (EBIT) [USD, Millions]

Net Income [USD, Millions]

Earnings Per Share (EPS) - Basic [USD]

Earnings Per Share (EPS) - Diluted [USD]

6b8aae143d8df1e728d45f14f4c5e14b486afe7bab90c7dee06e126d4307b314

Adjustments for Non-Cash Items

Stock-Based Compensation [USD, Millions]

Changes in Working Capital

Capital Expenditures (CapEx) [USD, Millions]

Proceeds from Debt [USD, Millions]

Repayments of Debt [USD, Millions]

Share Repurchases [USD, Millions]

Dividend Payments [USD, Millions]

Net Change in Cash [USD, Millions]

2cf09c304b6f16ec2356162830ec32ffcd6f1115fc2ffae776bdcf82ff396238

Vol/Mix for Emerging Markets (percentage points)

Vol/Mix for Developed Markets (percentage points)

Vol/Mix for Mondelez International (percentage points)

Pricing for Emerging Markets (percentage points)

Pricing for Developed Markets (percentage points)

Pricing for Mondelez International (percentage points)

a5492420cdd5dc6e95cbfb749bd4b7a14da7b8d96aa53bfff667229992447e0b

Latin America

AMEA

Asia Pacific

EEMEA

Europe

North America

- United States

- Other Regions

Total Revenue

9ff1d5cd615ddc6ea4149194ed1e5b3cb78db49345b7e8e14bae1c40e1d729de

Biscuits & Baked Snacks

Chocolate

Gum & Candy

Beverages

Cheese & Grocery

00508f97bb648566cb9c50b0e82f99b62495b9cc16002188f24c2652182c864c

Mondelez International (MDLZ)

Financials