Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Mondelēz International Inc., consolidated balance sheet: assets

US$ in millions

	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash and cash equivalents	2,125)	1,351)	1,810)	1,923)	3,546)
Trade receivables, net of allowance	3,903)	3,874)	3,634)	3,088)	2,337)
Other receivables, net of allowance	955)	937)	878)	819)	851)
Inventories	4,419)	3,827)	3,615)	3,381)	2,708)
Other current assets	1,549)	3,253)	1,766)	880)	900)
Current assets	12,951)	13,242)	11,703)	10,091)	10,342)
Property, plant and equipment, net	10,667)	9,481)	9,694)	9,020)	8,658)
Operating lease right-of-use assets	731)	767)	683)	660)	613)
Goodwill	24,336)	23,017)	23,896)	23,450)	21,978)
Intangible assets, net	19,628)	18,848)	19,836)	19,710)	18,291)
Prepaid pension assets	1,220)	987)	1,043)	1,016)	1,009)
Deferred income taxes	336)	333)	408)	473)	541)
Equity method investments	667)	635)	3,242)	4,879)	5,289)
Other assets	951)	1,187)	886)	1,862)	371)
Noncurrent assets	58,536)	55,255)	59,688)	61,070)	56,750)
Total assets	71,487)	68,497)	71,391)	71,161)	67,092)

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).

Total assets experienced moderate fluctuation over the five-year period, beginning at US$67,092 million in 2021 and reaching US$71,487 million in 2025. While there was an initial increase, a dip occurred in 2024 before a recovery in the final year. A more detailed examination of asset composition reveals varying trends within current and noncurrent asset categories.

Current Assets: Current assets demonstrated an overall upward trend from 2021 to 2024, increasing from US$10,342 million to US$13,242 million. However, 2025 saw a decrease to US$12,951 million. This growth was primarily driven by increases in trade receivables, inventories, and notably, other current assets, which experienced a significant surge in 2023 and 2024 before declining in 2025. Cash and cash equivalents exhibited a consistent decline from 2021 to 2024, before a partial recovery in 2025.
Noncurrent Assets: Noncurrent assets generally increased from US$56,750 million in 2021 to US$61,070 million in 2022, then decreased to US$55,255 million in 2024 before rising again to US$58,536 million in 2025. Goodwill represents the largest component of noncurrent assets, consistently accounting for a substantial portion of the total. While goodwill increased between 2021 and 2022, it decreased in 2024, and then increased again in 2025. Intangible assets, net, followed a similar pattern. Property, plant, and equipment, net, showed a steady increase through 2023, a slight decrease in 2024, and then a substantial increase in 2025. Equity method investments experienced a significant decline from 2021 to 2024, followed by a modest increase in 2025.
Key Observations: The company appears to be increasing its investment in productive assets, as evidenced by the growth in property, plant, and equipment, net, in 2025. The fluctuations in other current assets warrant further investigation to understand the underlying drivers. The decrease in cash and cash equivalents from 2021 to 2024 could indicate investment in operations or returns to shareholders, while the 2025 increase suggests improved cash flow generation. The substantial weighting of goodwill and intangible assets within noncurrent assets highlights the importance of these items to the company’s overall asset base and requires ongoing monitoring for potential impairment.

Overall, the asset composition demonstrates a dynamic shift over the period, with changes in various components contributing to the overall fluctuation in total assets. The trends suggest a company actively managing its asset base, responding to changing market conditions and strategic priorities.

Mondelēz International Inc. (NASDAQ:MDLZ)

Balance Sheet: Assets

Assets: Selected Items

Current Assets: Selected Items