Mondelez 2014 Annual Report Download - page 105
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Table of Contents
Our segment net revenues and earnings were:
No single customer accounted for 10% or more of our net revenues from continuing operations in 2014. Our five largest customers
accounted for 15.7% and our ten largest customers accounted for 23.7% of net revenues from continuing operations in 2014.
Items impacting our segment operating results are discussed in Note 1, Summary of Significant Accounting Policies, including the
Venezuelan currency devaluation, Note 2,
Divestitures and Acquisitions , Note 5, Goodwill and Intangible Assets , Note 6,
Restructuring Programs , and Note 7, Integration Program and Cost Saving Initiatives . Also see Note 8, Debt and Borrowing
Arrangements
, and Note 9, Financial Instruments, for more information on our interest and other expense, net for each period.
102
For the Years Ended December 31,
2014
2013
2012
(in millions)
Net revenues:
Latin America
$
5,153
$
5,382
$
5,396
Asia Pacific
4,605
4,952
5,164
EEMEA
3,638
3,915
3,735
Europe
13,912
14,059
13,817
North America
6,936
6,991
6,903
Net revenues
$
34,244
$
35,299
$
35,015
For the Years Ended December 31,
2014
2013
2012
(in millions)
Earnings from continuing operations before income taxes:
Operating income:
Latin America
$
475
$
570
$
769
Asia Pacific
385
512
657
EEMEA
327
379
506
Europe
1,770
1,699
1,762
North America
922
889
781
Unrealized gains / (losses) on hedging activities
(112
)
62
1
General corporate expenses
(317
)
(287
)
(728
)
Amortization of intangibles
(206
)
(217
)
(217
)
Benefit from indemnification resolution
–
336
–
Gains on acquisition and divestitures, net
–
30
107
Acquisition
-
related costs
(2
)
(2
)
(1
)
Operating income
3,242
3,971
3,637
Interest and other expense, net
(688
)
(1,579
)
(1,863
)
Earnings from continuing operations before income taxes
$
2,554
$
2,392
$
1,774