Cash Flow Statement

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Mondelēz International Inc., consolidated cash flow statement

US$ in millions

12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net earnings	4,968)	2,726)	4,314)	3,569)	3,885)
Depreciation and amortization	1,215)	1,107)	1,113)	1,116)	1,047)
Stock-based compensation expense	146)	120)	121)	126)	135)
U.S. tax reform transition tax	—)	—)	—)	—)	5)
Deferred income tax provision (benefit)	(37)	(42)	205)	(70)	(631)
Asset impairments and accelerated depreciation	128)	233)	128)	136)	109)
Loss on early extinguishment of debt	1)	38)	110)	185)	—)
Net gain on acquisition and divestitures	(108)	—)	(8)	—)	(44)
(Gain) loss on equity method investment transactions	(465)	22)	(742)	(989)	2)
Equity method investment net earnings	(160)	(385)	(393)	(421)	(442)
Distributions from equity method investments	137)	184)	172)	246)	250)
Unrealized (gain) loss on derivative contracts	(171)	338)	(267)	—)	—)
Gain on marketable securities	(593)	—)	—)	—)	—)
Other non-cash items, net	140)	88)	37)	243)	97)
Receivables, net	(628)	(719)	(197)	59)	124)
Inventories, net	(193)	(635)	(170)	(24)	31)
Accounts payable	264)	715)	702)	436)	4)
Other current assets	(120)	(286)	(169)	(207)	(77)
Other current liabilities	376)	630)	(502)	(208)	(362)
Change in assets and liabilities, net of acquisitions and divestitures	(301)	(295)	(336)	56)	(280)
Change in pension and postretirement assets and liabilities, net	(186)	(226)	(313)	(233)	(168)
Adjustments to reconcile net earnings to operating cash flows	(254)	1,182)	(173)	395)	80)
Net cash provided by operating activities	4,714)	3,908)	4,141)	3,964)	3,965)
Capital expenditures	(1,112)	(906)	(965)	(863)	(925)
Acquisitions, net of cash received	19)	(5,286)	(833)	(1,136)	(284)
Proceeds from divestitures including equity method and marketable security investments	4,099)	601)	1,539)	2,489)	167)
Proceeds from derivative settlements	177)	768)	105)	—)	—)
Payments for derivative settlements	(81)	(86)	(56)	—)	—)
Contributions to investments	(309)	(24)	(30)	—)	—)
Proceeds from sale of property, plant and equipment and other	19)	45)	214)	10)	82)
Net cash (used in) provided by investing activities	2,812)	(4,888)	(26)	500)	(960)
Issuances of commercial paper, maturities greater than 90 days	67)	—)	—)	677)	1,306)
Repayments of commercial paper, maturities greater than 90 days	(67)	—)	—)	(1,174)	(2,367)
Net issuances (repayments) of short-term borrowings	(1,869)	1,914)	194)	(2,116)	524)
Long-term debt proceeds	277)	4,490)	5,921)	7,213)	3,136)
Long-term debt repayments	(2,432)	(3,032)	(6,247)	(3,878)	(2,677)
Repurchases of Common Stock	(1,547)	(2,017)	(2,110)	(1,390)	(1,480)
Dividends paid	(2,160)	(1,985)	(1,826)	(1,678)	(1,542)
Other	173)	174)	(1)	131)	313)
Net cash used in financing activities	(7,558)	(456)	(4,069)	(2,215)	(2,787)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(32)	(169)	(143)	73)	10)
Cash, cash equivalents and restricted cash, increase (decrease)	(64)	(1,605)	(97)	2,322)	228)
Cash, cash equivalents and restricted cash, balance at beginning of period	1,948)	3,553)	3,650)	1,328)	1,100)
Cash, cash equivalents and restricted cash, balance at end of period	1,884)	1,948)	3,553)	3,650)	1,328)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

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Cash flow statement item	Description	The company
Net cash provided by operating activities	Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.	Mondelēz International Inc. net cash provided by operating activities decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.
Net cash (used in) provided by investing activities	Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.	Mondelēz International Inc. net cash (used in) provided by investing activities decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.
Net cash used in financing activities	Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.	Mondelēz International Inc. net cash used in financing activities increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.

Mondelēz International Inc. (NASDAQ:MDLZ)

Cash Flow Statement