Mondelez 2014 Annual Report Download - page 38
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Table of Contents
Results of Operations by Reportable Segment
Our operations and management structure are organized into five reportable operating segments:
We manage our operations by region to leverage regional operating scale, manage different and changing business environments
more effectively at a local level and pursue growth opportunities as they arise in our key markets. Beginning in 2015, within each
region, we also manage by product category. In the historical periods presented and discussed below, we managed our operations
within Latin America, Asia Pacific and EEMEA by location and within Europe and North America by location and product category.
We use segment operating income to evaluate segment performance and allocate resources. We believe it is appropriate to
disclose this measure to help investors analyze segment performance and trends. See Note 17, Segment Reporting, for additional
information on our segments and Items Affecting Comparability of Financial Results earlier in this section for items affecting our
segment operating results.
Our segment net revenues and earnings for the following historical periods were:
35
• Latin America
• Asia Pacific
• EEMEA
• Europe
• North America
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