Stock Analysis on Net
Stock Analysis on Net
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Mondelēz International Inc. (NASDAQ:MDLZ)

Income Statement

Beginner level

The income statement presents information on the financial results of a company’s 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

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12 months ended: Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Net revenues 25,868  25,938  25,896  25,923  29,636 
Cost of sales (15,531) (15,586) (15,831) (15,795) (18,124)
Gross profit 10,337  10,352  10,065  10,128  11,512 
Selling, general and administrative expenses (6,136) (6,475) (5,911) (6,540) (7,577)
Asset impairment and exit costs (228) (389) (656) (852) (901)
Net gains on divestitures 44  —  186  6,822 
Loss on deconsolidation of Venezuela —  —  —  —  (778)
Amortization of intangibles (174) (176) (178) (176) (181)
Operating income 3,843  3,312  3,506  2,569  8,897 
Benefit plan non-service income 60  50  —  —  — 
Interest expense, debt (484) (462) (396) (515) (609)
Loss on debt extinguishment and related expenses —  (140) (11) (427) (753)
JDE coffee business transactions currency-related net gains —  —  —  —  436 
Gain (loss) related to interest rate swaps (111) 10  —  (97) (34)
Other income (expense), net 139  72  25  (76) (53)
Interest and other expense, net (456) (520) (382) (1,115) (1,013)
Earnings before income taxes 3,447  2,842  3,124  1,454  7,884 
Provision for income taxes (2) (773) (688) (129) (593)
Net gain (loss) on equity method investment transactions (2) 778  40  43  — 
Equity method investment net earnings 442  548  460  301  — 
Net earnings 3,885  3,395  2,936  1,669  7,291 
Noncontrolling interest earnings (15) (14) (14) (10) (24)
Net earnings attributable to Mondelēz International 3,870  3,381  2,922  1,659  7,267 

Based on: 10-K (filing date: 2020-02-07), 10-K (filing date: 2019-02-08), 10-K (filing date: 2018-02-09), 10-K (filing date: 2017-02-24), 10-K (filing date: 2016-02-19).

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.’s net revenues increased from 2017 to 2018 but then decreased significantly from 2018 to 2019.
Operating income The net result for the period of deducting operating expenses from operating revenues. Mondelēz International Inc.’s operating income decreased from 2017 to 2018 but then increased from 2018 to 2019 exceeding 2017 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.’s earnings before income taxes decreased from 2017 to 2018 but then increased from 2018 to 2019 exceeding 2017 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.’s net earnings attributable to Mondelēz International increased from 2017 to 2018 and from 2018 to 2019.