Mondelez 2012 Annual Report Download - page 51

Table of Contents
Non-GAAP Financial Measures
We use certain non-GAAP financial measures to budget, make operating and strategic decisions and evaluate our performance.
We disclose non-GAAP financial measures so that you have the same financial data that we use to assist you in making
comparisons to our historical operating results and analyzing our underlying performance.
Our non-GAAP financial measures reflect how we evaluate our operating results currently. As new events or circumstances arise,
these definitions could change over time:
We believe that the presentation of these non-GAAP financial measures, when considered together with our U.S. GAAP financial
measures and the reconciliations to the corresponding U.S. GAAP financial measures, provides you with a more complete
understanding of the factors and trends affecting our business than could be obtained absent these disclosures. Because non-
GAAP financial measures may vary among other companies, the non-GAAP financial measures presented in our Management’s
Discussion and Analysis of Financial Condition and Results of Operations section may not be comparable to similarly titled
measures used by other companies. Our use of these non-GAAP financial measures is not meant to be considered in isolation or
as a substitute for any U.S. GAAP financial measure. A limitation of these non-GAAP financial measures is they exclude items
detailed below which have an impact on our U.S. GAAP reported results. The best way this limitation can be addressed is by
evaluating our non-GAAP financial measures in combination with our U.S. GAAP reported results and carefully evaluating the
following tables which reconcile U.S. GAAP reported figures to the non-GAAP financial measures in this Form 10-K.
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• “Organic Net Revenues” which is defined as net revenues excluding the impact of acquisitions, divestitures, Integration
Program costs, accounting calendar changes (including a 53
week in 2011) and foreign currency rate fluctuations.
• “Adjusted Operating Income” which is defined as operating income excluding the impact of Spin-Off Costs, the 2012-
2014 Restructuring Program, Integration Program, acquisition-related costs, gains / losses on divestitures, pension costs
related to obligations transferred in the Spin-Off and operating income from divested businesses. We also evaluate
growth in our Adjusted Operating Income on a constant currency basis.
• “Operating EPS” which is defined as Diluted EPS attributable to Mondelēz International from continuing operations
excluding the impact of Spin-Off Costs, the 2012-2014 Restructuring Program, Integration Program, acquisition-related
costs, gains / losses on divestitures, pension costs related to the obligations transferred in the Spin-Off, interest expense
adjustment related to the Spin-Off transaction, operating income from divested businesses and the 2010 U.S. healthcare
legislation change in prior periods. We also evaluate growth in our Operating EPS on a constant currency basis.
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