Mondelez 2014 Annual Report Download - page 31

Table of Contents
Net Earnings and Earnings per Share Attributable to Mondelēz International – Net earnings attributable to Mondelē
z International of
$2,184 million in 2014 decreased by $1,731 million (44.2%) due primarily to the results of the discontinued operations in the prior
year. Diluted EPS from continuing operations attributable to Mondelēz International was $1.28 in 2014, down $0.01 (0.8%) from
$1.29 in 2013. Adjusted EPS
(1)
was $1.76 in 2014, up $0.22 (14.3%) from $1.54 in 2013. Adjusted EPS on a constant currency
basis
(1)
was $1.90 in 2014, up $0.36 (23.4%) from $1.54 in 2013.
28
Diluted EPS
Diluted EPS Attributable to Mondel
ē
z International for the Year Ended December 31, 2013
$
2.19
Discontinued operations
0.90
Diluted EPS Attributable to Mondel
ē
z International from Continuing Operations for the Year
Ended December 31, 2013
$
1.29
Spin-Off Costs
(2)
0.02
2012-2014 Restructuring Program costs
(3)
0.14
Integration Program and other acquisition integration costs
(4)
0.10
Net benefit from indemnification resolution
(5)
(0.20
)
Remeasurement of net monetary assets in Venezuela
(6)
0.03
Gains on acquisition and divestitures, net
(2)
(0.04
)
Net earnings from divestitures
(2)
–
Acquisition
-
related costs
(2)
–
Loss on debt extinguishment and related expenses
(7)
0.22
Residual tax benefit impact due to resolution of Starbucks arbitration
(2)
(0.02
)
Adjusted EPS
(1)
for the Year Ended December 31, 2013
$
1.54
Increase in operations
0.25
Change in unrealized gains / (losses) on hedging activities
(0.07
)
Gain on sale of property in 2013
(2)
(0.03
)
VAT-related settlements
0.04
Gain on sale of property in 2014
(2)
–
Lower interest and other expense, net
(8)
0.08
Changes in shares outstanding
(9)
0.08
Changes in income taxes
(10)
0.01
Adjusted EPS (constant currency)
(1)
for the Year Ended December 31, 2014
$
1.90
Unfavorable currency
-
translation
(0.14
)
Adjusted EPS
(1)
for the Year Ended December 31, 2014
$
1.76
Spin-Off Costs
(2)
(0.01
)
2012-2014 Restructuring Program costs
(3)
(0.21
)
2014-2018 Restructuring Program costs
(3)
(0.16
)
Integration Program and other acquisition integration costs
(4)
–
Remeasurement of net monetary assets in Venezuela
(6)
(0.09
)
Income / (costs) associated with the JDE coffee transactions
(2)
0.19
Intangible asset impairment charges
(11)
(0.02
)
Loss on debt extinguishment and related expenses
(7)
(0.18
)
Diluted EPS Attributable to Mondel
ē
z International for the Year Ended December 31, 2014
$
1.28
(1)
Please see the
Non
-
GAAP Financial Measures
section at the end of this item.
(2) Refer to Note 2,
Divestitures and Acquisitions
, for more information on Spin-Off Costs following the Kraft Foods Group, Inc. divestiture, the
resolution of the Starbucks arbitration, an acquisition in our EEMEA segment and other property sales and the Planned Coffee Business
Transactions and other divestitures. Note the $628 million unrealized gain on the currency hedges related to the JDE coffee transactions was
recorded in interest and other expense, net and is included in the income /(costs) associated with the JDE coffee transactions of $0.19 above.