Mondelez 2013 Annual Report Download - page 39

Table of Contents
2012 compared with 2011
Net Revenues – Net revenues decreased $795 million (2.2%) to $35,015 million in 2012, and Organic Net Revenues
(1)
increased
$1,531 million (4.4%) to $36,347 million. The changes in net revenues and Organic Net Revenue are detailed below:
Organic Net Revenue growth was driven by higher net pricing and favorable volume/mix. Higher net pricing, including the impact of
pricing actions from the prior year, was realized across all reportable segments as we increased pricing to offset higher input costs.
Favorable volume/mix was driven by higher shipments in Asia Pacific, EEMEA and Europe, partially offset by lower shipments in
North America, driven primarily by the completion of a co-manufacturing agreement from a previous divestiture, and Latin America.
Unfavorable foreign currency decreased net revenues by $1,576 million, due primarily to the strength of the U.S. dollar relative to
most foreign currencies, primarily the euro, Brazilian real, Indian rupee, Argentinean peso, South African rand, Russian ruble and
Mexican peso. Accounting calendar changes in 2011 resulted in a year-over-year decrease in net revenues of $679 million. The
impact of divestitures also resulted in a year-over-year decrease in net revenues of $72 million.
33
For the Years Ended
December 31,
2012
2011
$ change
% change
(in millions, except per share data)
Net revenues
$
35,015
$
35,810
$
(795
)
(2.2%
)
Operating income
3,637
3,498
139
4.0%
Earnings from continuing operations
1,606
1,764
(158
)
(9.0%
)
Net earnings attributable to
Mondel
ē
z International
3,067
3,554
(487
)
(13.7%
)
Diluted earnings per share from
continuing operations attributable to
Mondelēz International
0.88
0.99
(0.11
)
(11.1%
)
Diluted earnings per share attributable to
Mondelēz International
1.71
2.01
(0.30
)
(14.9%
)
Change in net revenues (by percentage point)
Higher net pricing
3.3pp
Favorable volume/mix
1.1pp
Total change in Organic Net Revenues
(1)
4.4%
Unfavorable foreign currency
(4.4)pp
Impact of accounting calendar changes (including the 53
rd
week of shipments)
(2.0)pp
Impact of divestitures
(0.2)pp
Total change in net revenues
(2.2)%
(1)
Please see the
Non
-
GAAP Financial Measures
section at the end of this item.