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
Based on: 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), 10-K (reporting date: 2020-12-31).
- Net Revenues
- There is a consistent upward trend in net revenues from 2020 to 2024, increasing from 26,581 million US$ to 36,441 million US$. The growth accelerates particularly between 2022 and 2023.
- Cost of Sales
- Cost of sales also rises steadily from -16,135 million US$ in 2020 to -22,184 million US$ in 2024. The increase mirrors the revenue growth but remains slightly more stable between 2023 and 2024.
- Gross Profit
- Gross profit shows gradual growth, rising from 10,446 million US$ in 2020 to 14,257 million US$ in 2024. The growth in gross profit is in line with revenue increases, showing improvement especially in 2023 and 2024.
- Selling, General, and Administrative Expenses
- SG&A expenses increase from -6,098 million US$ in 2020 to -8,002 million US$ in 2023, then decrease slightly to -7,439 million US$ in 2024, indicating efforts to manage overhead despite revenue growth.
- Asset Impairment and Exit Costs
- These costs fluctuate over the years without a clear trend, ranging between -324 million US$ and -212 million US$, peaking in 2024.
- Gain on Acquisition and Divestitures
- This item is volatile and irregular, with gains recorded in 2021, 2023, and 2024, including a notable 108 million US$ gain in 2023.
- Amortization of Intangible Assets
- Amortization expenses remain fairly stable across the five years, fluctuating slightly around -130 million to -153 million US$.
- Operating Income
- Operating income exhibits a positive overall trend, moving from 3,853 million US$ in 2020 up to 6,345 million US$ in 2024. The notable dip in 2022 is followed by a strong recovery in 2023 and 2024.
- Benefit Plan Non-service Income
- This income component declines gradually from 138 million US$ in 2020 to 96 million US$ in 2024, indicating reduced non-operating benefit plan income over time.
- Interest Expense, Debt
- Interest expense displays some fluctuations but remains generally elevated, with a high point at -550 million US$ in 2023 and a slight improvement to -508 million US$ in 2024.
- Loss on Debt Extinguishment and Related Expenses
- Losses in this category decrease significantly from -185 million US$ in 2020 to minimal levels by 2023 and no losses reported in 2024, indicating improvements in debt management.
- Loss Related to Interest Rate Swaps
- A loss was reported in 2020 (-103 million US$) but not in subsequent years, suggesting elimination or reduction of these losses.
- Other Income, Net
- Other income grows significantly from 103 million US$ in 2020 to 328 million US$ in 2024, reflecting increasing contributions from non-core activities.
- Interest and Other Expense, Net
- This expense category decreases steadily from -608 million US$ in 2020 to -180 million US$ in 2024, showing improved expense management.
- Gain on Marketable Securities
- A substantial gain of 606 million US$ was recognized in 2023, which is a one-time event accounting for the spike in net other income for that year.
- Earnings Before Income Taxes
- EBIT rises from 3,383 million US$ in 2020 to 6,261 million US$ in 2024, with a dip in 2022 but strong rebounds thereafter, consistent with operating income trends and other income recognition.
- Income Tax Provision
- Income tax provision mostly remains between -1,224 million US$ and -1,469 million US$, with an outlier in 2022 showing a notably lower tax charge of -865 million US$.
- Gain (Loss) on Equity Method Investment Transactions
- This line shows volatility, with gains in early years and 2023, but a significant loss of -337 million US$ in 2024, indicating changing results from equity investments.
- Equity Method Investment Net Earnings
- Net earnings from equity investments decline from 421 million US$ in 2020 to around 160-168 million US$ in 2023 and 2024, showing a downward trend in investment earnings.
- Net Earnings
- Net earnings exhibit a pattern similar to operating income and EBIT, with a peak in 2021 at 4,314 million US$, a dip in 2022, then a recovery to 4,623 million US$ in 2024, although not reaching the prior peak of 2021.
- Noncontrolling Interest Earnings
- Noncontrolling interest earnings remain relatively stable around -9 to -14 million US$, with a slight increase in losses by 2024.
- Net Earnings Attributable to Mondelēz International
- The net earnings attributable to the company’s shareholders follow the overall net earnings trend, showing substantial recovery after the 2022 decline, and reflecting strong operating results from 2023 onward.