Income Statement
Quarterly Data

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 (quarterly data)

US$ in millions

3 months ended:	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Net revenues	9,313)	9,604)	9,204)	8,343)	9,290)	9,314)	9,029)	8,507)	9,166)	8,695)	7,763)	7,274)	7,764)	7,658)	7,182)	6,642)	7,238)	7,298)	6,665)	5,911)	6,707)
Cost of sales	(6,883)	(5,893)	(6,205)	(5,546)	(4,540)	(5,844)	(5,535)	(5,153)	(5,720)	(5,620)	(5,150)	(4,633)	(4,781)	(4,825)	(4,358)	(4,011)	(4,272)	(4,426)	(3,873)	(3,580)	(4,256)
Gross profit	2,430)	3,711)	2,999)	2,797)	4,750)	3,470)	3,494)	3,354)	3,446)	3,075)	2,613)	2,641)	2,983)	2,833)	2,824)	2,631)	2,966)	2,872)	2,792)	2,331)	2,451)
Selling, general and administrative expenses	(1,711)	(1,980)	(1,630)	(1,891)	(1,938)	(2,259)	(2,019)	(1,869)	(1,855)	(2,131)	(1,884)	(1,676)	(1,693)	(1,670)	(1,436)	(1,593)	(1,564)	(1,624)	(1,484)	(1,453)	(1,537)
Asset impairments and exit costs	(2)	(86)	(176)	(15)	(47)	(89)	(58)	(23)	(47)	(74)	(18)	(6)	(164)	74)	(62)	(134)	(90)	(48)	(123)	(115)	(15)
Gain on acquisition	—)	4)	—)	—)	—)	108)	—)	—)	—)	—)	—)	—)	—)	(1)	—)	—)	9)	—)	—)	—)	—)
Amortization of intangible assets	(37)	(38)	(40)	(37)	(38)	(37)	(38)	(37)	(39)	(36)	(32)	(32)	(32)	(32)	(32)	(32)	(38)	(51)	(50)	(50)	(43)
Operating income	680)	1,611)	1,153)	854)	2,727)	1,193)	1,379)	1,425)	1,505)	834)	679)	927)	1,094)	1,204)	1,294)	872)	1,283)	1,149)	1,135)	713)	856)
Benefit plan non-service income	18)	20)	25)	28)	23)	22)	19)	22)	19)	24)	30)	30)	33)	28)	37)	54)	44)	36)	38)	31)	33)
Interest and other expense, net	(153)	(34)	(46)	(32)	(68)	(52)	(66)	(97)	(95)	(86)	(71)	(98)	(168)	(89)	(82)	(58)	(218)	(244)	(89)	(85)	(190)
Gain (loss) on marketable securities	—)	—)	—)	—)	—)	—)	(1)	(189)	796)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Earnings before income taxes	545)	1,597)	1,132)	850)	2,682)	1,163)	1,331)	1,161)	2,225)	772)	638)	859)	959)	1,143)	1,249)	868)	1,109)	941)	1,084)	659)	699)
Income tax provision	(154)	(216)	(326)	(295)	(632)	(257)	(354)	(268)	(658)	(270)	(184)	(201)	(210)	(238)	(342)	(398)	(212)	(344)	(391)	(341)	(148)
Gain (loss) on equity method investment transactions	—)	332)	(4)	—)	(665)	—)	1)	(23)	487)	(3)	(6)	(8)	(5)	(3)	250)	502)	(7)	452)	345)	121)	71)
Equity method investment net earnings	16)	35)	54)	48)	31)	44)	10)	71)	35)	85)	85)	98)	117)	103)	105)	107)	78)	110)	84)	106)	121)
Net earnings	407)	1,748)	856)	603)	1,416)	950)	988)	941)	2,089)	584)	533)	748)	861)	1,005)	1,262)	1,079)	968)	1,159)	1,122)	545)	743)
Noncontrolling interest (earnings) losses	(5)	(3)	(3)	(2)	(4)	—)	(4)	3)	(8)	(1)	(1)	(1)	(6)	(2)	(4)	(1)	(7)	(3)	(3)	(1)	(7)
Net earnings attributable to Mondelēz International	402)	1,745)	853)	601)	1,412)	950)	984)	944)	2,081)	583)	532)	747)	855)	1,003)	1,258)	1,078)	961)	1,156)	1,119)	544)	736)

Net Revenues: Net revenues showed a general upward trend from March 2020 through March 2025, starting at $6,707 million and reaching $9,313 million. Some fluctuations were observed with slight declines in quarterly periods, notably in mid-2024, but overall, the revenues demonstrated steady growth over the five-year span.
Cost of Sales: Cost of sales increased over time, starting from $-4,256 million in March 2020 and reaching a peak of $-6,883 million by March 2025. The cost pattern corresponded closely with revenue trends, though the magnitude of costs increased at a somewhat faster pace, indicating margin pressures in certain periods.
Gross Profit: Gross profit experienced variability with an overall increasing trend in the initial years, rising from $2,451 million in March 2020 to a peak of $4,750 million in March 2024, before declining sharply to $2,430 million by the latest quarter. This volatility suggests fluctuating profitability likely influenced by cost pressures and revenue changes.
Selling, General and Administrative Expenses (SG&A): SG&A expenses exhibited an increasing trend from approximately $1,537 million (March 2020) reaching a maximum near $2,259 million in December 2021. After this peak, expenses displayed modest fluctuations with a tendency to decrease in some quarters but remained elevated relative to the start of the period.
Asset Impairments and Exit Costs: These costs generally remained low but showed some significant spikes at various points, with extreme negative values such as $-176 million in September 2024. Occasional positive values indicate recoveries or reversals during some quarters, but overall these costs contribute to profit variability.
Gain on Acquisition: Gains on acquisitions appeared sporadically and with limited impact until a notable gain of $108 million was recorded in December 2022. Minor gains were reported in some other periods, indicating discrete acquisition-related benefits.
Amortization of Intangible Assets: Amortization expenses remained relatively stable, fluctuating narrowly between $-32 million and $-51 million per quarter, indicating consistent intangible asset amortization throughout the period.
Operating Income: Operating income showed considerable volatility, beginning at $856 million (March 2020), rising to a peak of $2,727 million in March 2024, then declining to $680 million by March 2025. This pattern reflects varying operational efficiency and possibly external economic factors impacting profitability.
Benefit Plan Non-Service Income: This income component remained relatively stable across the quarters, fluctuating slightly between $18 million and $54 million, suggesting a minor but consistent positive contribution to financial results.
Interest and Other Expense, Net: Interest and other expenses fluctuated widely, from a low of $-244 million in December 2020 to more moderate levels in some later periods. There is no clear trend but the variation could affect net profitability intermittently.
Gain (Loss) on Marketable Securities: This item was mostly absent but showed substantial positive impact with $796 million in December 2022 followed by a significant loss of $-189 million in March 2023. Such volatility suggests reliance on market investments affecting net earnings in certain quarters.
Earnings Before Income Taxes: EBIT trends mirrored operating income, with values rising from $699 million (March 2020) to a high of $2,682 million (March 2024), followed by a decrease to $545 million by March 2025. This indicates cyclical fluctuations in profitability before tax obligations.
Income Tax Provision: Income tax provisions varied considerably, with high tax expenses in some quarters (e.g., $-658 million in March 2023) and lower amounts in others. No consistent upward or downward trend was evident, suggesting changes in taxable income and tax strategies over time.
Gain (Loss) on Equity Method Investment Transactions: This category showed irregular and large swings, including sizable positive values such as $487 million in March 2023 and negative values like $-665 million in June 2024. Such variability indicates volatile results from equity method investments affecting overall profitability.
Equity Method Investment Net Earnings: Net earnings from equity investments mostly hovered between $10 million and $121 million with some lows in recent quarters, suggesting these earnings are a relatively small but fluctuating contributor to total earnings.
Net Earnings: Net earnings showed substantial volatility, starting at $743 million in March 2020 and peaking dramatically at $2,089 million in March 2023 before falling to $407 million in March 2025. This pattern reflects the combined effect of operational performance, investment results, and tax provisions.
Noncontrolling Interest: Noncontrolling interest fluctuations were minor relative to net earnings but varied in sign and magnitude, indicating variable minority shareholder impacts on consolidated net income.
Net Earnings Attributable to the Company: Net earnings attributable to the company followed the net earnings pattern closely, starting at $736 million in March 2020, peaking at $2,081 million in March 2023, then decreasing to $402 million by March 2025. The volatility reflects underlying operational and investment factors influencing shareholder returns.

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Mondelēz International Inc. (NASDAQ:MDLZ)

Income Statement Quarterly Data

Income Statement
Quarterly Data