Financial Analysis

"Note 8. Commitments and Contingencies Legal Proceedings We routinely are involved in various pending or threatened legal proceedings, claims, disputes, regulatory matters and governmental inquiries, inspections or investigations arising in the ordinary course of or incidental to our business, including those noted below in this section. We record provisions in the consolidated financial statements for pending legal matters when we determine that an unfavorable outcome is probable, and the amount of the loss can be reasonably estimated. For matters we have not provided for that are reasonably possible to result in an unfavorable outcome, management is unable to estimate the possible loss or range of loss or such amounts have been determined to be immaterial. At present we believe that the ultimate outcome of these legal proceedings and regulatory and governmental matters, individually and in the aggregate, will not materially harm our financial position, results of operations or cash flows. However, legal proceedings and regulatory and governmental matters are subject to inherent uncertainties, and unfavorable rulings or other events could occur. Unfavorable resolutions could involve substantial fines, civil or criminal penalties, and other expenditures. In addition, in matters for which conduct remedies are sought, unfavorable resolutions could include an injunction or other order prohibiting us from selling one or more products at all or in particular ways, precluding parti …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

Note 5. Debt and Borrowing Arrangements Short-Term Borrowings Our short-term borrowings and related weighted-average interest rates consisted of: As of June 30, 2026 As of December 31, 2025 Amount Outstanding Weighted- Average Rate Amount Outstanding Weighted- Average Rate (in millions, except percentages) Commercial paper $ 2,285 2.9 % $ 2,614 3.5 % Bank loans 42 13.9 % 74 7.7 % Total short-term borrowings $ 2,327 $ 2,688 Our uncommitted and committed credit facilities available include: As of June 30, 2026 As of December 31, 2025 Facility Amount Borrowed Amount Facility Amount Borrowed Amount (in millions) Uncommitted credit facilities $ 843 $ 42 $ 882 $ 71 Credit facilities (1) : February 18, 2026 1,500 February 17, 2027 1,500 February 19, 2030 4,500 4,500 (1) On February 18, 2026, our $1.5 billion 364-day senior unsecured revolving credit agreement dated as of February 19, 2025 expired and we entered into a $1.5 billion 364-day senior unsecured revolving credit agreement that will expire on February 17, 2027. We maintain senior unsecured revolving credit facilities for general corporate purposes, including working capital needs, and to support our commercial paper program. The revolving credit agreements include a covenant that we maintain a minimum shareholders' equity of at least $25.0 billion, excluding accumulated other comprehensive earnings/(losses), the cumulative effects of any changes in accounting principles and earnings/(losses) recognized in connection with an …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

"Note 4. Goodwill and Intangible Assets Goodwill Changes in goodwill consisted of: Latin America AMEA Europe North America Total (in millions) Balance at December 31, 2025 $ 1,500 $ 3,128 $ 8,884 $ 10,824 $ 24,336 Currency 53 24 (211) (22) (156) Balance at June 30, 2026 $ 1,553 $ 3,152 $ 8,673 $ 10,802 $ 24,180 Intangible Assets Intangible assets consisted of the following: As of June 30, 2026 As of December 31, 2025 Gross carrying amount Accumulated amortization Net carrying amount Gross carrying amount Accumulated amortization Net carrying amount (in millions) Indefinite-life intangible assets $ 18,572 $ $ 18,572 $ 18,647 $ $ 18,647 Definite-life intangible assets 3,470 (2,533) 937 3,477 (2,496) 981 Total $ 22,042 $ (2,533) $ 19,509 $ 22,124 $ (2,496) $ 19,628 Indefinite-life intangible assets consist principally of brand names purchased through our acquisitions of Nabisco Holdings Corp., the global LU biscuit business of Groupe Danone S.A., Cadbury Limited and Clif Bar. Definite-life intangible assets consist primarily of customer-related intangibles, process technology and trademarks. The weighted-average amortization period for our definite-life intangible assets is approximately 16 years, which is primarily driven by recently acquired customer-related intangibles. Amortization expense for definite-life intangible assets was $26 million and $38 million for the three months ended June 30, 2026 and 2025, respectively, and $53 million and $75 million for the six months ende …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

Note 12. Income Taxes Our effective tax rate was 19.2% for the second quarter of 2026 as compared to 26.9% in the second quarter of 2025. The decrease in our effective tax rate was driven by our jurisdictional mix of earnings, in particular the impact of mark-to-market gains and losses on commodity and foreign currency derivatives on a year over year basis, as well as tax benefits recorded in the current quarter related to a legal entity reorganization and a U.S. amended tax return filing. Our effective tax rate for the six months ended June 30, 2026 was 22.1% as compared to 27.4% for the six months ended June 30, 2025. The decrease in our year-to-date effective tax rate was driven by our jurisdictional mix of earnings, in particular the impact of mark-to-market gains and losses on commodity and foreign currency derivatives on a year over year basis, as well as tax benefits related to a legal entity reorganization and a U.S. amended tax return filing in the six months ended June 30, 2026, partially offset by tax benefits from releases of liabilities for uncertain tax positions due to audit developments in the six months ended June 30, 2025.

IncomeTaxDisclosureTextBlock

"New Accounting Pronouncements - Adopted In July 2025, the FASB issued an ASU which introduces a practical expedient that allows entities to measure expected credit losses on current accounts receivable and current contract assets by assuming that the conditions existing at the balance sheet date remain unchanged over the remaining life of those assets. The guidance is intended to simplify the application of the current expected credit loss model by reducing the need to develop forward-looking forecasts for short-term trade receivables. We adopted the practical expedient on a prospective basis during the quarter ended March 31, 2026 and the impact on our consolidated financial statements was not material. In September 2025, the FASB issued an ASU that refines the scope of derivative accounting by introducing a new exception for contracts whose underlyings are based on the operations or activities of one of the parties among other updates. The ASU is effective for interim and annual periods beginning after December 15, 2026, with early adoption permitted. The guidance may be applied either on a prospective or modified retrospective basis. We early adopted the ASU on a modified retrospective basis effective January 1, 2026, and there was no impact on our consolidated financial statements. New Accounting Pronouncements - Not Yet Adopted In November 2024, the FASB issued an ASU that will require incremental disclosures in the notes to the financial statements to disaggregate inco …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

"Note 7. Benefit Plans Pension Plans Components of Net Periodic Pension (Benefit)/Cost Net periodic pension (benefit)/cost consisted of the following: U.S. Plans Non-U.S. Plans For the Three Months Ended June 30, For the Three Months Ended June 30, 2026 2025 2026 2025 (in millions) Service cost $ $ $ 15 $ 16 Interest cost 4 17 68 66 Expected return on plan assets (5) (20) (111) (107) Amortization of net loss and prior service cost 1 2 19 18 Settlement losses 288 Net periodic pension cost/(benefit) $ $ 287 $ (9) $ (7) U.S. Plans Non-U.S. Plans For the Six Months Ended June 30, For the Six Months Ended June 30, 2026 2025 2026 2025 (in millions) Service cost $ 1 $ 1 $ 31 $ 31 Interest cost 7 26 135 135 Expected return on plan assets (10) (33) (220) (211) Amortization of net loss and prior service cost 2 2 37 35 Settlement (gains)/losses (3) 292 Net periodic pension (benefit)/cost $ (3) $ 288 $ (17) $ (10) Employer Contributions During the six months ended June 30, 2026, we contributed $2 million and $46 million to our U.S. and non-U.S. pension plans, respectively. We make contributions to our pension plans in accordance with local funding arrangements and statutory minimum funding requirements. Discretionary contributions are made to the extent that they are tax deductible and do not generate an excise tax liability. As of June 30, 2026, we plan to make no further contributions to our U.S. plans and further contributions of approximately $31 million to our non-U.S. plans for the …

PensionAndOtherPostretirementBenefitsDisclosureTextBlock · excerpt; the full note is in the filing

Note 11. Restructuring Beginning in the fourth quarter of 2025, we initiated new restructuring actions to reduce our cost structure and streamline our operations. Those restructuring actions, which were primarily undertaken by our Europe segment, included initiatives to optimize our supply chain network and reduce our overhead costs. We recorded restructuring charges related to those actions, consisting of severance and related costs, of $11 million and $59 million in the three and six months ended June 30, 2026, which are classified within asset impairment and exit costs. The activity for the liabilities related to these restructuring actions for the six months ended June 30, 2026 was: Total (in millions) Liability balance, December 31, 2025 $ 23 Charges 59 Payments (18) Currency (1) Liability balance, June 30, 2026 $ 63 At June 30, 2026, $40 million of our restructuring liabilities were recorded within other current liabilities and $23 million were recorded within other long-term liabilities.

RestructuringAndRelatedActivitiesDisclosureTextBlock

"Note 14. Segment Reporting We manufacture and market primarily snack food products, including chocolate, biscuits and baked snacks, as well as gum & candy, meals and beverages. We manage our global business and report operating results through geographic units. We manage our operations by region to leverage regional operating scale, manage different and changing business environments more effectively and pursue growth opportunities as they arise across our key markets. Our regional management teams have responsibility for the business, product categories and financial results in the regions. Our operations and management structure are organized into four operating segments which are also our reportable segments: Latin America AMEA Europe North America Our Chief Operating Decision Maker (""CODM"") is our Chief Executive Officer. Our CODM uses segment operating income in the annual plan and forecasting process and considers actual versus plan variances in assessing the performance of the segments. The CODM also uses segment operating income as an input to the overall compensation measures for segment management under our incentive compensation plans. Segment operating income excludes certain mark-to-market impacts on commodity and foreign currency derivatives (which are primarily a component of cost of sales), general corporate expenses (which are a component of selling, general and administrative expenses), amortization of intangibles, gains and losses on divestitures and …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

"Note 1. Basis of Presentation Our interim condensed consolidated financial statements are unaudited. Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) have been omitted. It is managements opinion that these financial statements include all normal and recurring adjustments necessary for a fair presentation of our results of operations, financial position and cash flows. Results of operations for any interim period are not necessarily indicative of future or annual results. For a complete set of consolidated financial statements and related notes, refer to our Annual Report on Form 10-K for the year ended December 31, 2025. Principles of Consolidation The condensed consolidated financial statements include Mondelez International, Inc. as well as our wholly owned and majority owned subsidiaries, except our Venezuelan subsidiaries that were deconsolidated in 2015. All intercompany transactions are eliminated. The noncontrolling interest represents the noncontrolling investors' interests in the results of subsidiaries that we control and consolidate. We account for investments in common stock or in-substance common stock over which we exercise significant influence under the equity method of accounting. Highly Inflationary Accounting As of June 30, 2026, our consolidated entities in Argentina, Turkiye, Egypt and Nigeria are o …

SignificantAccountingPoliciesTextBlock · excerpt; the full note is in the filing

"Note 9. Shareholders' Equity Stock Award Activity Stock Options Stock option activity is reflected below: Shares Subject to Option Weighted- Average Exercise Price Per Share Average Remaining Contractual Term Aggregate Intrinsic Value Balance at January 1, 2026 15,721,919 $57.17 5 years $ 55 million Granted 3,190,140 61.43 Exercised (1) (1,260,284) 42.27 $ 22 million Canceled (329,518) 63.01 Balance at June 30, 2026 17,322,257 58.93 6 years $ 61 million (1) Cash received from options exercised was $15 million and $53 million in the three and six months ended June 30, 2026, respectively. The excess income tax benefit from stock option exercises was $2 million and $3 million in the three and six months ended June 30, 2026, respectively. Performance Share Units (""PSU"") and Deferred Stock Units (""DSU"") PSU and DSU activity is reflected below: Number of Shares Weighted-Average Grant Date Fair Value Per Share (3) Weighted-Average Aggregate Grant Date Fair Value Balance at January 1, 2026 5,337,124 $67.73 Units granted: Performance share units (1) 1,089,805 65.40 Deferred stock units 1,994,725 59.27 Total units granted (1) 3,084,530 61.44 $ 190 million Vested (1) (2) (1,638,597) 66.80 $ 109 million Forfeited (264,753) 65.17 Balance at June 30, 2026 6,518,304 65.09 (1) Includes incremental PSUs issued over target. (2) The income tax shortfall upon vesting of PSUs and DSUs was zero and $2 million in the three and six months ended June 30, 2026, respectively. (3) The grant date fa …

StockholdersEquityNoteDisclosureTextBlock · excerpt; the full note is in the filing