Mondelez 2012 Annual Report Download - page 50

Table of Contents
Equity and Dividends
Equity:
As a result of the Spin-Off, we divested $4.4 billion of Kraft Foods Group net assets, $4.3 billion of accumulated other
comprehensive losses primarily related to the pension and other benefits plan net liabilities transferred to Kraft Foods Group and
$89 million of unearned compensation recorded within additional paid in capital. In total, we recorded a distribution of $8.8 billion to
our shareholders in connection with the Spin-Off of Kraft Foods Group on October 1, 2012. See Note 2, Divestitures and
Acquisitions
, to the consolidated financial statements for additional information on the Spin-Off of Kraft Foods Group .
Stock Plans:
In connection with the Spin-Off and divestiture of Kraft Foods Group, under the provisions of our existing plans, employee stock
option and restricted and deferred stock awards were adjusted to preserve the fair value of the awards immediately before and after
the Spin-Off. Long-term incentive plan awards held by Mondelēz International employees remained Mondelē
z International awards.
The underlying performance conditions for the Mondelēz International long-term incentive plan awards were modified and are
consistent with our original performance targets adjusted to reflect our standalone business. No incremental compensation expense
was recorded as a result of the modifications of the stock plan awards. See Note 11,
Stock Plans , to the consolidated financial
statements for more information on our stock plans, awards activity during 2012, 2011 and 2010, and stock award modifications
related to the Spin-Off.
Dividends:
We paid dividends of $2,058 million in 2012, $2,043 million in 2011 and $2,175 million in 2010. The dividends paid relate to periods
prior to the Spin-Off and are based on an annualized dividend rate of $1.16 per common share for these periods. The 0.7%
increase in 2012 reflects an increase in shares outstanding. The decrease of 6.1% in 2011 reflects an additional dividend payment
of $224 million in 2010 related to the Cadbury acquisition. Following the Spin-Off, we expect to pay an annualized dividend rate of
$0.52. The declaration of dividends is subject to the discretion of our Board of Directors and depends on various factors, including
our net earnings, financial condition, cash requirements, future prospects and other factors that our Board of Directors deems
relevant to its analysis and decision making.
2013 Outlook
We expect our 2013 Organic Net Revenue growth to be at the low end of our long-
term growth target of 5 to 7 percent. Additionally,
we expect our 2013 Operating EPS to be $1.52 to $1.57, reflecting average 2012 foreign currency rates and the devaluation of the
Venezuelan bolivar announced on February 8, 2013.
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