Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Mondelēz International Inc., consolidated income statement

US$ in millions

12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net revenues	36,016)	31,496)	28,720)	26,581)	25,868)
Cost of sales	(22,252)	(20,184)	(17,466)	(16,135)	(15,531)
Gross profit	13,764)	11,312)	11,254)	10,446)	10,337)
Selling, general and administrative expenses	(8,002)	(7,384)	(6,263)	(6,098)	(6,136)
Asset impairment and exit costs	(217)	(262)	(212)	(301)	(228)
Net gain on acquisition and divestitures	108)	—)	8)	—)	44)
Amortization of intangible assets	(151)	(132)	(134)	(194)	(174)
Operating income	5,502)	3,534)	4,653)	3,853)	3,843)
Benefit plan non-service income	82)	117)	163)	138)	60)
Interest expense, debt	(550)	(428)	(365)	(423)	(484)
Loss on debt extinguishment and related expenses	(1)	(129)	(137)	(185)	—)
Loss related to interest rate swaps	—)	—)	—)	(103)	(111)
Other income, net	241)	134)	55)	103)	139)
Interest and other expense, net	(310)	(423)	(447)	(608)	(456)
Gain on marketable securities	606)	—)	—)	—)	—)
Earnings before income taxes	5,880)	3,228)	4,369)	3,383)	3,447)
Income tax provision	(1,537)	(865)	(1,190)	(1,224)	(2)
Gain (loss) on equity method investment transactions	465)	(22)	742)	989)	(2)
Equity method investment net earnings	160)	385)	393)	421)	442)
Net earnings	4,968)	2,726)	4,314)	3,569)	3,885)
Noncontrolling interest earnings	(9)	(9)	(14)	(14)	(15)
Net earnings attributable to Mondelēz International	4,959)	2,717)	4,300)	3,555)	3,870)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

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Income statement item	Description	The company
Net revenues	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	Mondelēz International Inc. net revenues increased from 2021 to 2022 and from 2022 to 2023.
Operating income	The net result for the period of deducting operating expenses from operating revenues.	Mondelēz International Inc. operating income decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.
Earnings before income taxes	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	Mondelēz International Inc. earnings before income taxes decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.
Net earnings attributable to Mondelēz International	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Mondelēz International Inc. net earnings attributable to Mondelēz International decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.

Mondelēz International Inc. (NASDAQ:MDLZ)

Income Statement