Mondelez 2014 Annual Report Download - page 81
Download and view the complete annual report
Please find page 81 of the 2014 Mondelez annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71 -
72 -
73 -
74 -
75 -
76 -
77 -
78 -
79 -
80 -
81 -
82 -
83 -
84 -
85 -
86 -
87 -
88 -
89 -
90 -
91 -
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
-
181
-
182
-
183
-
184
-
185
-
186
-
187
-
188
-
189
-
190
-
191
-
192
-
193
-
194
-
195
-
196
-
197
-
198
-
199
-
200
-
201
-
202
-
203
-
204
-
205
-
206
-
207
-
208
-
209
-
210
-
211
 |
 |
Table of Contents
Interest and Other Expense, Net:
Interest and other expense, net within our results of continuing operations consisted of:
See Note 2, Divestitures and Acquisitions, and Note 9, Financial Instruments, for information on the currency exchange forward
contracts associated with the planned coffee business transactions. See Note 11, Commitments and Contingencies, for information
on the benefit from the resolution of the Cadbury acquisition-related indemnification. See Note 9, Financial Instruments , on the
Spin-Off related financing fees of $556 million related to several interest rate swap settlements in 2012.
Note 9. Financial Instruments
Fair Value of Derivative Instruments:
Derivative instruments were recorded at fair value in the consolidated balance sheets as follows:
During 2014 and 2013, derivatives designated as accounting hedges include cash flow and fair value hedges and derivatives not
designated as accounting hedges include economic hedges. Non-U.S. debt designated as a hedge of our net investments in non-
U.S. operations is not reflected in the table above, but is included in long-term debt summarized in Note 8, Debt and Borrowing
Arrangements
. We record derivative assets and liabilities on a gross basis in our consolidated balance sheet. The fair value of our
asset derivatives is recorded within other current assets and the fair value of our liability derivatives is recorded within other current
liabilities.
78
For the Years Ended December 31,
2014
2013
2012
(in millions)
Interest expense, debt
$
778
$
1,017
$
1,177
Loss on debt extinguishment and related expenses
495
612
–
Unrealized gain on planned coffee business transactions
currency hedge
(628
)
–
–
Benefit from indemnification resolution –
(
49
)
–
Spin-Off-related financing fees –
–
609
Other expense / (income), net
43
(1
)
77
Total interest and other expense, net
$
688
$
1,579
$
1,863
As of December 31,
2014
2013
Asset
Liability
Asset
Liability
Derivatives
Derivatives
Derivatives
Derivatives
(in millions)
Derivatives designated as accounting
hedges:
Currency exchange contracts
$
69
$
17
$
3
$
11
Commodity contracts
12
33
2
3
Interest rate contracts
13
42
209
–
$
94
$
92
$
214
$
14
Derivatives not designated as
accounting hedges:
Currency exchange contracts
$
735
$
24
$
84
$
8
Commodity contracts
90
194
60
51
Interest rate contracts
59
39
64
38
$
884
$
257
$
208
$
97
Total fair value
$
978
$
349
$
422
$
111