Cash Flow Statement
Quarterly Data
The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.
The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.
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Mondelēz International Inc. pages available for free this week:
- Statement of Comprehensive Income
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Long-term (Investment) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value (EV)
- Return on Equity (ROE) since 2005
- Debt to Equity since 2005
- Total Asset Turnover since 2005
- Price to Book Value (P/BV) since 2005
- Aggregate Accruals
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Mondelēz International Inc., consolidated cash flow statement (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
Operating cash flows demonstrate a general resilience, though they exhibit significant quarterly volatility. Net cash provided by operating activities typically remains positive, with a notable peak in the fourth quarter of 2025 reaching 2,397 million USD. This cash generation is supported by steady depreciation and amortization expenses, which have trended upward from approximately 280 million USD in early 2021 to 343 million USD by early 2026.
- Operating Performance and Non-Cash Adjustments
- Net earnings show substantial fluctuations, ranging from a low of 407 million USD in early 2024 to a high of 2,089 million USD in early 2023. The relationship between net earnings and operating cash flow is heavily influenced by unrealized gains and losses on derivative contracts, which have introduced significant swings in the reconciliation process, particularly between 2024 and 2025. Working capital management is characterized by cyclicality in receivables and inventories, with large fluctuations often offsetting or augmenting operating cash flow on a quarterly basis.
- Investment Strategy and Capital Allocation
- Capital expenditures remain a consistent outflow, generally scaling from 216 million USD per quarter in 2021 to over 300 million USD in the latter periods, indicating sustained investment in property, plant, and equipment. Investing activities are marked by a strategic pattern of divestitures and acquisitions. Significant cash outflows for acquisitions occurred in 2022, most notably in September 2022 with an outflow of 2,576 million USD. These were periodically offset by substantial proceeds from divestitures, such as the 2,290 million USD inflow recorded in December 2024.
- Financing Activities and Shareholder Returns
- A consistent commitment to shareholder returns is evident through steady dividend payments, which increased from approximately 450 million USD per quarter in 2021 to over 640 million USD by early 2026. Common stock repurchases are conducted frequently but with varying intensity, peaking at 1,522 million USD in early 2024. To fund these activities and strategic investments, the company utilizes a mix of short-term borrowings and long-term debt, characterized by large-scale issuances and repayments to manage the capital structure.
- Liquidity and Cash Position
- The net change in cash, cash equivalents, and restricted cash fluctuates significantly due to the timing of large financing and investing events. While operating activities consistently provide a positive cash base, the overall liquidity position is frequently impacted by the aggressive repayment of debt and the execution of share buyback programs, leading to periodic net decreases in cash balance despite strong core operations.