Mondelēz International Inc. (NASDAQ:MDLZ)

The financial data over the reviewed periods indicates a consistent upward trend in both current assets and adjusted current assets for the company.

Current assets

The current assets show a gradual increase from 9,979 million US dollars in 2020 to 13,242 million US dollars in 2024. This steady growth suggests an improving liquidity position, with a notable acceleration in the last two years, particularly between 2022 and 2024 where the assets rose by approximately 1,500 million US dollars.

Adjusted current assets

Adjusted current assets follow a similar positive trajectory, moving from 10,063 million US dollars in 2020 to 13,316 million US dollars in 2024. The adjusted figures remain consistently slightly higher than the reported current assets, implying adjustments that might account for more liquid or readily convertible assets. The pattern mirrors the overall growth trend seen in current assets, reinforcing the company's improved short-term financial position.

Overall, the data reflects strengthening liquidity and an expansion in the asset base available to meet short-term obligations, indicating potentially enhanced operational efficiency or improved working capital management over the observed period.

The financial data over the five-year period reveals fluctuations in both total assets and adjusted total assets, indicating changes in the company's asset base and possible adjustments in asset valuation or composition.

Total assets

From 2020 to 2021, total assets decreased slightly from 67,810 million US dollars to 67,092 million US dollars, indicating a minor contraction in asset holdings. In 2022, total assets increased significantly to 71,161 million US dollars, suggesting asset growth or acquisitions during the year. The upward trend continued modestly in 2023 with total assets reaching 71,391 million US dollars, the highest in the observed period. However, in 2024, total assets declined to 68,497 million US dollars, indicating asset reduction or disposals.

Adjusted total assets

Adjusted total assets follow a similar trend to total assets with slight differences in magnitude. Starting at 67,104 million US dollars in 2020, there is a decrease to 66,637 million US dollars in 2021. An increase to 70,792 million US dollars is seen in 2022, followed by a mild rise to 71,099 million US dollars in 2023. By 2024, adjusted total assets decrease to 68,238 million US dollars, mirroring the downward trend observed in total assets during the same period.

Overall, the asset base saw a reduction in the early part of the period (2020-2021), followed by notable growth and peak levels in 2022 and 2023. The decline in 2024 suggests a reversal of prior growth, potentially reflecting strategic asset disposals, impairments, or changes in market conditions. The close alignment between total assets and adjusted total assets indicates consistent adjustments and valuation considerations across the years.

The financial data indicates fluctuations in the company's total liabilities and adjusted total liabilities over the five-year period from 2020 to 2024.

Total liabilities

Total liabilities initially decreased from 40,156 million USD at the end of 2020 to 38,769 million USD by the end of 2021, suggesting some reduction in obligations during this period. However, in 2022, there was a notable increase to 44,241 million USD, representing a significant rise. Following this peak, a slight decline was observed in 2023 and 2024, with liabilities reducing to 43,025 million USD and then 41,539 million USD respectively. Overall, despite reductions after 2022, total liabilities remain above the 2020 and 2021 levels.

Adjusted total liabilities

The adjusted total liabilities followed a similar trajectory to the total liabilities, starting at 36,506 million USD in 2020 and declining to 35,114 million USD in 2021. A substantial increase occurred in 2022 to 40,640 million USD. Subsequent years show a gradual reduction to 39,542 million USD in 2023, and further down to 37,926 million USD in 2024. The adjusted figures consistently remain lower than the unadjusted total liabilities, but changes mirror the overall trend—initial reduction, peak in 2022, and then a decreasing trend.

The comparative trends in total and adjusted liabilities suggest a period of increased obligation loads around 2022, followed by efforts to reduce these liabilities in the following years. The declines in both measures from 2022 through 2024 may indicate intensified focus on managing liabilities, improving financial stability. Despite these reductions, liabilities at the end of 2024 are still higher than the initial levels seen in 2020 and 2021, implying that the company's overall leverage increased but has been actively managed downwards after reaching a high point.

Total Mondelēz International shareholders’ equity

The total shareholders’ equity exhibited some fluctuations over the five-year period. It started at 27,578 million USD in 2020 and rose to 28,269 million USD by the end of 2021. Subsequently, it declined to 26,883 million USD in 2022, followed by a recovery to 28,332 million USD in 2023. However, it decreased again to 26,932 million USD in 2024. Overall, this metric demonstrates volatility with alternating periods of increase and decline, resulting in a relatively stable range around the 27,000 million USD mark by 2024.

Adjusted total equity

The adjusted total equity similarly shows a pattern of fluctuation. It began at 30,598 million USD in 2020, increasing to a peak of 31,523 million USD in 2021. This was followed by a decrease to 30,152 million USD in 2022. Adjusted equity rebounded in 2023 to 31,557 million USD and then declined again in 2024 to 30,312 million USD. This trajectory indicates moderate variability, with the adjusted equity generally maintaining levels above 30,000 million USD throughout the period.

Comparative insights

When comparing total shareholders’ equity and adjusted total equity, it is clear that adjusted equity consistently exceeds the total shareholders’ equity by a margin ranging approximately from 2,000 to 3,000 million USD each year. Both metrics show parallel trends of rises and falls over the time frame examined, suggesting that the same underlying factors impact both measures similarly, although adjustments elevate the total equity values. The overall analysis indicates that while Mondelēz International’s equity base experiences moderate fluctuations year-over-year, it remains relatively stable with no large-scale directional shifts evident.

The financial data reveals several noteworthy trends regarding the debt, equity, and capital structure over the five-year period analyzed.

Total reported debt

This metric shows a fluctuating pattern. It decreased from $20,046 million in 2020 to $19,512 million in 2021, then increased significantly to $22,933 million in 2022. Subsequently, it declined again to $19,408 million in 2023 and further to $17,749 million in 2024. This indicates a peak in reported debt in 2022, followed by a steady reduction over the next two years.

Total Mondelēz International shareholders’ equity

Shareholders’ equity experienced minor fluctuations but remained relatively stable. It rose slightly from $27,578 million in 2020 to $28,269 million in 2021, then declined to $26,883 million in 2022. After that, it increased again to $28,332 million in 2023, before decreasing once more to $26,932 million in 2024. This suggests modest volatility but no clear upward or downward trend over the period.

Total reported capital

Total reported capital, representing the sum of reported debt and shareholders’ equity, showed a slight increase from $47,624 million in 2020 to $49,816 million in 2022, followed by a decline to $47,740 million in 2023 and a more pronounced reduction to $44,681 million in 2024. The peak in 2022 coincides with the highest reported debt, indicating that changes in debt levels significantly influenced capital structure.

Adjusted total debt

A similar trend is observed with adjusted total debt, which increased from $20,706 million in 2020 to $23,613 million in 2022, then decreased to $20,110 million in 2023 and further to $18,544 million in 2024. The adjusted debt figures remain consistently higher than reported debt but follow the same overall trajectory.

Adjusted total equity

Adjusted total equity increased from $30,598 million in 2020 to $31,523 million in 2021, then declined to $30,152 million in 2022. It recovered slightly to $31,557 million in 2023 before decreasing to $30,312 million in 2024. This pattern mirrors the movements in shareholders’ equity, with slight variations reflecting adjustments made to equity components.

Adjusted total capital

Adjusted total capital, combining adjusted debt and equity, rose from $51,304 million in 2020 to a peak of $53,765 million in 2022, before declining to $51,667 million in 2023 and $48,856 million in 2024. The evolution of adjusted capital closely tracks that of adjusted debt, underlining the significant impact of debt fluctuations on overall capital.

In summary, the data indicates a peak in both debt and capital metrics in 2022, followed by a consistent downward trend through 2023 and 2024. Equity components—both reported and adjusted—exhibit relative stability with minor fluctuations but do not display a strong directional change. The trends suggest management's efforts to deleverage post-2022, reducing debt levels and total capital, while maintaining shareholder equity within a moderate range.

The financial data reveals notable fluctuations in the company's profitability over the five-year period analyzed.

Net Earnings Attributable to the Company

Net earnings increased from 3,555 million US dollars in 2020 to a peak of 4,959 million US dollars in 2023. However, a decline is observed in 2024 with earnings decreasing to 4,611 million US dollars. The data indicates an overall upward trend from 2020 through 2023, followed by a moderate contraction in the final year.

Adjusted Net Earnings

Adjusted net earnings demonstrate more pronounced volatility compared to net earnings. Starting at 3,097 million US dollars in 2020, adjusted earnings rose to 4,462 million US dollars in 2021. This was followed by a sharp decline to 2,304 million US dollars in 2022. Subsequently, there was a significant recovery to 4,961 million US dollars in 2023, before falling again to 3,290 million US dollars in 2024. This pattern suggests the presence of substantial adjustments impacting reported profitability, leading to greater earnings variability.

Overall, net earnings show a general growth trajectory with a recent dip, whereas adjusted net earnings exhibit a more erratic behavior with large swings, possibly reflecting one-time items or non-recurring factors affecting reported results. This indicates that while underlying profitability has improved overall, the adjusted performance experiences considerable fluctuations affecting consistent earnings quality.