10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
MONDELEZ INTERNATIONAL, INC. | |||
Ticker: MDLZ Fiscal Year: 2017 | |||
Consolidated Statements of Earnings | |||
Period Ending Dec 31, 2017 10-K (Filed: Feb 9, 2018) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| Net revenues | $ 25,896 [1] | 25,923 | 29,636 |
| Cost of sales | 15,831 | 15,795 | 18,124 |
| Gross profit | 10,065 | 10,128 | 11,512 |
| Selling, general and administrative expenses | 5,911 | 6,540 | 7,577 |
| Asset impairment and exit costs | 656 | 852 | 901 |
| Net gain on divestitures | (186) | (9) | (6,822) |
| Loss on deconsolidation of Venezuela | 0 | 0 | 778 |
| Amortization of intangibles | 178 | 176 | 181 |
| Operating income | 3,506 | 2,569 | 8,897 |
| Interest and other expense, net | 382 | 1,115 | 1,013 |
| Earnings before income taxes | 3,124 | 1,454 | 7,884 |
| Provision for income taxes | (688) | (129) | (593) |
| Gain on equity method investment transactions | 40 | 43 | 0 |
| Equity method investment net earnings | 460 | 301 | 0 |
| Net earnings | 2,936 | 1,669 | 7,291 |
| Noncontrolling interest earnings | (14) | (10) | (24) |
| Net earnings attributable to Mondelez International | 2,922 | 1,659 | 7,267 |
| Per share data: | |||
| Basic earnings per share attributable to Mondelez International | 1.93 | 1.07 | 4.49 |
| Diluted earnings per share attributable to Mondelez International | 1.91 | 1.05 | 4.44 |
| Dividends declared | 0.82 | 0.72 | 0.64 |
| [1] In 2015, our consolidated net revenues included Venezuela net revenues of $763 million in biscuits, $340 million in cheese & grocery, $66 million in gum & candy and $48 million in beverages. Following the deconsolidation of our Venezuela operations at the end of 2015, our 2016 and 2017 consolidated net revenues no longer include the net revenues of our Venezuelan subsidiaries. Refer to Note 1, Summary of Significant Accounting Policies - Currency Translation and Highly Inflationary Accounting: Venezuela, fo | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
MONDELEZ INTERNATIONAL, INC. | |||
Ticker: MDLZ Fiscal Year: 2017 | |||
Consolidated Statements of Comprehensive Earnings | |||
Period Ending Dec 31, 2017 10-K (Filed: Feb 9, 2018) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| Net earnings | $ 2,936 | 1,669 | 7,291 |
| Other comprehensive earnings/(losses), net of tax: | |||
| Currency translation adjustment | 1,201 | (925) | (2,990) |
| Pension and other benefit plans | (57) | (153) | 340 |
| Derivative cash flow hedges | 8 | (75) | (44) |
| Total other comprehensive earnings/(losses) | 1,152 | (1,153) | (2,694) |
| Comprehensive earnings | 4,088 | 516 | 4,597 |
| less: Comprehensive earnings/(losses) attributable to noncontrolling interests | 42 | (7) | (2) |
| Comprehensive earnings attributable to Mondelez International | 4,046 | 523 | 4,599 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
MONDELEZ INTERNATIONAL, INC. | |||
Ticker: MDLZ Fiscal Year: 2017 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2017 10-K (Filed: Feb 9, 2018) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| CASH PROVIDED BY/(USED IN) OPERATING ACTIVITIES | |||
| Net earnings | $ 2,936 | 1,669 | 7,291 |
| Adjustments to reconcile net earnings to operating cash flows: | |||
| Depreciation and amortization | 816 | 823 | 894 |
| Stock-based compensation expense | 137 | 140 | 136 |
| U.S. tax reform transition tax | 1,317 | 0 | 0 |
| Deferred income tax benefit | (1,206) | (141) | (30) |
| Asset impairments and accelerated depreciation | 334 | 446 | 345 |
| Loss on early extinguishment of debt | 11 | 428 | 748 |
| Loss on deconsolidation of Venezuela | 0 | 0 | 778 |
| Gains on divestitures and JDE coffee business transactions | (186) | (9) | (6,822) |
| JDE coffee business transactions currency-related net gains | 0 | 0 | (436) |
| Gain on equity method investment transactions | (40) | (43) | 0 |
| Equity method investment net earnings | (460) [1] | (301) | (56) |
| Distributions from equity method investments | 152 | 75 | 58 |
| Other non-cash items, net | (225) | (43) | 199 |
| Change in assets and liabilities, net of acquisitions and divestitures: | |||
| Receivables, net | (24) | 31 | 44 |
| Inventories, net | (18) | 62 | (49) |
| Accounts payable | 5 | 409 | 659 |
| Other current assets | 14 | (176) | 28 |
| Other current liabilities | (637) | 60 | 152 |
| Change in pension and postretirement assets and liabilities, net | (333) | (592) | (211) |
| Net cash provided by operating activities | 2,593 | 2,838 | 3,728 |
| CASH PROVIDED BY/(USED IN) INVESTING ACTIVITIES | |||
| Capital expenditures | (1,014) | (1,224) | (1,514) |
| Proceeds from JDE coffee business transactions currency hedge settlements | 0 | 0 | 1,050 |
| Acquisitions, net of cash received | 0 | (246) | (527) |
| Proceeds from divestitures, net of disbursements | 604 | 303 | 4,735 |
| Reduction of cash due to Venezuela deconsolidation | 0 | 0 | (611) |
| Capital contribution to JDE | 0 | 0 | (544) |
| Proceeds from sale of property, plant and equipment and other assets | 109 | 138 | 60 |
| Net cash (used in)/provided by investing activities | (301) | (1,029) | 2,649 |
| CASH PROVIDED BY/(USED IN) FINANCING ACTIVITIES | |||
| Issuances of commercial paper, maturities greater than 90 days | 1,808 | 1,540 | 613 |
| Repayments of commercial paper, maturities greater than 90 days | (1,911) | (1,031) | (710) |
| Net issuances/(repayments) of other short-term borrowings | 1,027 | 1,741 | (931) |
| Long-term debt proceeds | 350 | 5,640 | 4,624 |
| Long-term debt repaid | (1,470) | (6,186) | (4,975) |
| Repurchase of Common Stock | (2,174) | (2,601) | (3,622) |
| Dividends paid | (1,198) | (1,094) | (1,008) |
| Other | 207 | 129 | 126 |
| Net cash used in financing activities | (3,361) | (1,862) | (5,883) |
| Effect of exchange rate changes on cash and cash equivalents | 89 | (76) | (255) |
| Cash and cash equivalents: | |||
| (Decrease)/increase | (980) | (129) | 239 |
| Balance at beginning of period | 1,741 | 1,870 | |
| Balance at end of period | 761 | 1,741 | 1,870 |
| Cash paid: | |||
| Interest | 398 | 630 | 747 |
| Income taxes | 848 | 527 | 745 |
| [1] Historically, we have recorded income from equity method investments within our operating income as these investments operated as extensions of our base business. Beginning in the third quarter of 2015, to align with the accounting for JDE earnings, we began to record the earnings from our equity method investments in after-tax equity method investment earnings outside of operating income. For the six months ended December 31, 2015, after-tax equity method investment net earnings were less than $1 million o | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
MONDELEZ INTERNATIONAL, INC. | ||
Ticker: MDLZ Fiscal Year: 2017 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2017 10-K (Filed: Feb 9, 2018) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2017 | Dec 31, 2016 | |
| ASSETS | ||
| Cash and cash equivalents | $ 761 | 1,741 |
| Trade receivables (net of allowances of $50 at December 31, 2017 and $58 at December 31, 2016) | 2,691 | 2,611 |
| Other receivables (net of allowances of $98 at December 31, 2017 and $93 at December 31, 2016) | 835 | 859 |
| Inventories, net | 2,557 | 2,469 |
| Other current assets | 676 | 800 |
| Total current assets | 7,520 | 8,480 |
| Property, plant and equipment, net | 8,677 | 8,229 |
| Goodwill | 21,085 | 20,276 |
| Intangible assets, net | 18,639 | 18,101 |
| Prepaid pension assets | 158 | 159 |
| Deferred income taxes | 319 | 358 |
| Equity method investments | 6,345 | 5,585 |
| Other assets | 366 | 350 |
| TOTAL ASSETS | 63,109 | 61,538 |
| LIABILITIES | ||
| Short-term borrowings | 3,517 | 2,531 |
| Current portion of long-term debt | 1,163 | 1,451 |
| Accounts payable | 5,705 | 5,318 |
| Accrued marketing | 1,728 | 1,745 |
| Accrued employment costs | 721 | 736 |
| Other current liabilities | 2,959 | 2,636 |
| Total current liabilities | 15,793 | 14,417 |
| Long-term debt | 12,972 | 13,217 |
| Deferred income taxes | 3,376 | 4,721 |
| Accrued pension costs | 1,669 | 2,014 |
| Accrued postretirement health care costs | 419 | 382 |
| Other liabilities | 2,689 | 1,572 |
| TOTAL LIABILITIES | 36,918 | 36,323 |
| Commitments and Contingencies (Note 12) | ||
| EQUITY | ||
| Common Stock, no par value (5,000,000,000 shares authorized and 1,996,537,778 shares issued at December 31, 2017 and December 31, 2016) | 0 | 0 |
| Additional paid-in capital | 31,915 | 31,847 |
| Retained earnings | 22,749 | 21,149 |
| Accumulated other comprehensive losses | (9,998) | (11,122) |
| Treasury stock, at cost (508,401,694 shares at December 31, 2017 and 468,172,237 shares at December 31, 2016) | (18,555) | (16,713) |
| Total Mondelez International Shareholders' Equity | 26,111 | 25,161 |
| Noncontrolling interest | 80 | 54 |
| TOTAL EQUITY | 26,191 | 25,215 |
| TOTAL LIABILITIES AND EQUITY | 63,109 | 61,538 |
| External Links | |
| MONDELEZ INTERNATIONAL, INC. (MDLZ) Fiscal Year 2017 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |