Mondelez Files 2024 10-K

Ticker: MDLZ · Form: 10-K · Filed: Feb 5, 2025 · CIK: 1103982

Sentiment: neutral

Topics: 10-K, annual-report, financials

TL;DR

MDLZ dropped its 2024 10-K. All the deets on debt, assets, and more.

AI Summary

Mondelez International, Inc. filed its 2024 10-K on February 5, 2025, reporting on its fiscal year ending December 31, 2024. The company, headquartered in Chicago, IL, operates within the Food & Kindred Products industry. Key financial data and disclosures related to its operations, including debt and property, plant, and equipment, are detailed in this annual report.

Why It Matters

This filing provides investors with a comprehensive overview of Mondelez's financial performance and strategic positioning for the fiscal year 2024, crucial for understanding the company's health and future prospects.

Risk Assessment

Risk Level: low — This is a standard annual financial filing for a large, established public company.

Key Numbers

Key Players & Entities

FAQ

What is Mondelez International's primary industry?

Mondelez International, Inc. operates within the FOOD & KINDRED PRODUCTS industry, with SIC code 2000.

Where is Mondelez International, Inc. headquartered?

The company's business and mail address is located at 905 West Fulton Market, Suite 200, Chicago, IL 60607.

When did Mondelez International, Inc. change its name from Kraft Foods Inc?

The date of the name change from Kraft Foods Inc. to Mondelez International, Inc. was January 21, 2000.

What is the SEC file number for Mondelez International, Inc.'s 10-K filing?

The SEC file number for this 10-K filing is 001-16483.

What is the accession number for this specific 10-K filing?

The accession number for this filing is 0001103982-25-000030.

Filing Stats: 4,387 words · 18 min read · ~15 pages · Grade level 15.9 · Accepted 2025-02-05 14:52:14

Key Financial Figures

Filing Documents

Risk Factors

Item 1A. Risk Factors 12

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 27

Cybersecurity

Item 1C. Cybersecurity 27

Properties

Item 2. Properties 29

Legal Proceedings

Item 3. Legal Proceedings 29

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 29 Part II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 30

Reserved

Item 6. Reserved 31

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations: 32 Recent Developments and Significant Items Affecting Comparability 32 Financial Outlook 35 Summary of Results 36 Discussion and Analysis of Historical Results 37 Liquidity and Capital Resources 54 Commodity Trends 56 Non-GAAP Financial Measures 57 Critical Accounting Estimates 60

Quantitative and Qualitative Disclosures about Market Risk

Item 7A. Quantitative and Qualitative Disclosures about Market Risk 63

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data: 65 Report of Independent Registered Public Accounting Firm 65 Consolidated Statements of Earnings for the Years Ended December 31, 2024, 2023 and 2022 68 Consolidated Statements of Comprehensive Earnings for the Years Ended December 31, 2024, 2023 and 2022 69 Consolidated Balance Sheets as of December 31, 2024 and 2023 70 Consolidated Statements of Equity for the Years Ended December 31, 2024, 2023 and 2022 71 Consolidated Statements of Cash Flows for the Years Ended December 31, 2024, 2023 and 2022 72

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 73

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 120

Controls and Procedures

Item 9A. Controls and Procedures 120

Other Information

Item 9B. Other Information 121

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 121 Part III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 122

Executive Compensation

Item 11. Executive Compensation 122 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 122

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 122

Principal Accountant Fees and Services

Item 14. Principal Accountant Fees and Services 122 Part IV

Exhibits and Financial Statement Schedules

Item 15. Exhibits and Financial Statement Schedules 123

Form 10-K Summary

Item 16. Form 10-K Summary 127

Signatures

Signatures 128 In this report, for all periods presented, "we," "us," "our," "the Company" and "Mondelz International" refer to Mondelz International, Inc. and subsidiaries. References to "Common Stock" refer to our Class A Common Stock. Table of Contents

Forward-Looking Statements

Forward-Looking Statements This report contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are "forward-looking statements" for purposes of federal and state securities laws, including any projections of earnings, revenue or other financial items; any statements of the plans, strategies and objectives of management, including for future operations, capital expenditures or share repurchases; any statements concerning proposed new products, services, or developments; any statements regarding future economic conditions or performance; any statements of belief or expectation; and any statements of assumptions underlying any of the foregoing or other future events. Forward-looking statements may include, among others, the words, and variations of words, "will," "may," "expect," "would," "could," "might," "intend," "plan," "believe," "likely," "estimate," "anticipate," "objective," "predict," "project," "drive," "seek," "aim," "target," "potential," "commitment," "outlook," "continue" or any other similar words. Although we believe that the expectations reflected in any of our forward-looking statements are reasonable, actual results or outcomes could differ materially from those projected or assumed in any of our forward-looking statements. Our future financial condition and results of operations, as well as any forward-looking statements, are subject to change and to inherent risks and uncertainties, many of which are beyond our control and are amplified by current and potential trade and tariff actions affecting the countries where we operate. Important factors that could cause our actual results or performance to differ materially from those contained in or implied by our forward-looking statements include, but are not limited to, the following: weakness in macroeconomic conditi

Business

Item 1. Business. General Mondelz International's purpose is to empower people to snack right. We sell our products in over 150 c ountries around the world. We are one of the world's largest snack companies with global net revenues of $36.4 billion and net earnings of $4.6 billion in 2024. Our core business is making and selling chocolate, biscuits and baked snacks. We also have additional businesses in adjacent, locally relevant categories including gum & candy, cheese & grocery and powdered beverages. Our portfolio includes iconic global and local brands such as Oreo, Ritz, LU, Clif Bar and Tate's Bake Shop biscuits and baked snacks, as well as Cadbury Dairy Milk, Milka and Toblerone chocolate. We strive to create a positive impact on the world and communities in which we operate while driving business performance. Our goal is to lead the future of snacking around the world by offering the right snack, for the right moment, made the right way. We aim to deliver a broad range of delicious, high-quality snacks that nourish life's moments, made with sustainable ingredients and packaging. Strategy We aim to be the global leader in snacking by focusing on growth, execution, culture and sustainability. We are optimizing our portfolio of leading brands and have refined our strategy to accelerate growth, prioritizing our fast-growing core categories of chocolate, biscuits and baked snacks. Our strategic plan builds on our strong foundations, including leadership in attractive categories, an attractive global footprint, a strong core of iconic global and local brands, marketing, sales, distribution and cost excellence capabilities and top talent with a growth mindset. Our plan to drive long-term growth includes four strategic priorities: Accelerate consumer-centric growth. Our consumers are the reason we want to be the best snacking company in the world, and we put them at the heart of everything we do. With our consumers in mind, we are focused on accelerati

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