Mondelez 2013 Annual Report Download - page 63

Table of Contents
Non-GAAP Financial Measures
We use non-GAAP financial information and believe it is useful to investors as it provides additional information to facilitate
comparisons of historical operating results, identify trends in our underlying operating results and provide additional transparency
on how we evaluate our business. 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. Because
GAAP financial measures on a forward-looking basis are neither accessible nor deemed to be significantly different from the non-
GAAP financial measures, and reconciling information is not available without unreasonable effort, we have not provided this
information in connection with the non-GAAP financial measures in our Financial Outlook.
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• “Organic Net Revenues” which is defined as net revenues excluding the impact of acquisitions, divestitures (including businesses under sale agreements and exits of major product lines under a sale or licensing agreement), Integration
Program costs, accounting calendar changes (including a 53
rd
week in 2011) and foreign currency rate fluctuations.
• “Adjusted Operating Income” which is defined as operating income excluding the impact of Spin-
Off Costs, pension costs
related to obligations transferred in the Spin-Off, the 2012-2014 Restructuring Program, the Integration Program and
other acquisition integration costs, the benefit from the Cadbury acquisition-related indemnification resolution, gains /
losses on divestitures or acquisitions, acquisition-related costs and the operating results of divestitures (including
businesses under sale agreements and exits of major product lines under a sale or licensing agreement). We also
evaluate growth in our Adjusted Operating Income on a constant currency basis.
• “Adjusted EPS” (previously referred to as “Operating EPS”) which is defined as diluted EPS attributable to Mondelēz
International from continuing operations excluding the impact of Spin-Off Costs, pension costs related to the obligations
transferred in the Spin-Off, the 2012-2014 Restructuring Program, the Integration Program and other acquisition
integration costs, the benefit from the Cadbury acquisition-related indemnification resolution, losses on debt
extinguishment and related expenses, the residual tax benefit impact from the resolution of the Starbucks arbitration,
gains / losses on divestitures and acquisitions, acquisition-related costs and net earnings from divestitures (including
business under sale agreements and exits of major product lines under a sale or licensing agreement), and including an
interest expense adjustment related to the Spin-Off transaction. We also evaluate growth in our Adjusted EPS on a
constant currency basis.