Stock Analysis on Net
Stock Analysis on Net

Mondelēz International Inc. (NASDAQ:MDLZ)

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity 

Mondelēz International Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity

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Dec 31, 2025 Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021
Short-term borrowings 3.76 0.10 0.59 3.23 0.32
Current portion of long-term debt 1.81 2.94 2.94 0.54 2.60
Accounts payable 14.18 13.77 11.66 10.63 10.03
Accrued marketing 3.90 3.73 3.76 3.33 3.13
Accrued employment costs 1.40 1.35 1.62 1.33 1.23
Other current liabilities 5.53 6.64 6.07 4.45 3.57
Current liabilities 30.58% 28.54% 26.63% 23.51% 20.88%
Long-term debt, excluding current portion 24.09 22.87 23.65 28.46 26.16
Long-term operating lease liabilities 0.84 0.91 0.75 0.72 0.68
Deferred income taxes 4.94 5.00 4.61 4.83 5.13
Accrued pension costs 0.59 0.57 0.61 0.57 1.02
Accrued postretirement health care costs 0.10 0.14 0.17 0.30 0.45
Other liabilities 2.64 2.61 3.83 3.78 3.47
Noncurrent liabilities 33.20% 32.10% 33.63% 38.66% 36.91%
Total liabilities 63.78% 60.64% 60.27% 62.17% 57.78%
Common stock, no par value 0.00 0.00 0.00 0.00 0.00
Additional paid-in capital 45.21 47.12 45.13 45.17 47.84
Retained earnings 50.94 53.25 47.96 44.24 45.92
Accumulated other comprehensive losses -15.90 -18.21 -15.33 -15.38 -15.83
Treasury stock, at cost -44.11 -42.85 -38.06 -36.25 -35.79
Total Mondelēz International shareholders’ equity 36.14% 39.32% 39.69% 37.78% 42.13%
Noncontrolling interest 0.07 0.04 0.05 0.05 0.08
Total equity 36.22% 39.36% 39.73% 37.83% 42.22%
Total liabilities and equity 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).

The composition of liabilities and stockholders’ equity at the company exhibits several notable trends between 2021 and 2025. Overall, total liabilities increased as a percentage of total liabilities and equity, while total equity decreased over the same period. A closer examination of individual line items reveals the drivers behind these changes.

Short-Term Borrowings
Short-term borrowings demonstrate significant volatility. Initially low at 0.32% in 2021, they increased substantially to 3.23% in 2022 before decreasing to 0.10% in 2024. A sharp increase is then observed in 2025, reaching 3.76%. This suggests a fluctuating reliance on short-term financing.
Current Liabilities
Current liabilities consistently increased as a percentage of the total, rising from 20.88% in 2021 to 30.58% in 2025. This growth was primarily driven by increases in accounts payable and other current liabilities. Accounts payable increased steadily from 10.03% to 14.18%, while other current liabilities showed a similar upward trend, moving from 3.57% to 5.53%.
Long-Term Debt
Long-term debt, excluding the current portion, showed a decrease from 26.16% in 2021 to 22.87% in 2024, followed by a slight increase to 24.09% in 2025. This indicates a moderate reduction in long-term debt reliance, with a minor reversal in the most recent year. Long-term operating lease liabilities remained relatively stable, fluctuating between 0.68% and 0.91%.
Noncurrent Liabilities
Noncurrent liabilities generally decreased from 36.91% in 2021 to 32.10% in 2024, before increasing slightly to 33.20% in 2025. The decrease was influenced by declines in accrued pension and postretirement health care costs, which both experienced substantial reductions throughout the period.
Total Liabilities
Total liabilities increased from 57.78% in 2021 to 63.78% in 2025. This increase is attributable to the combined effect of rising current liabilities and a moderate increase in long-term debt towards the end of the period.
Stockholders’ Equity
Total stockholders’ equity decreased from 42.22% in 2021 to 36.22% in 2025. This decline is primarily driven by increases in treasury stock, which rose from -35.79% to -44.11%, and accumulated other comprehensive losses, which became more negative over time. Additional paid-in capital remained relatively stable, while retained earnings showed some fluctuation, peaking at 47.96% in 2023 before decreasing to 50.94% in 2025.

In summary, the company’s balance sheet shifted towards a greater reliance on liabilities and a reduction in equity over the five-year period. This trend is characterized by increasing current liabilities, fluctuating short-term borrowings, and a substantial increase in treasury stock offsetting gains in retained earnings.

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