For the year ending 2025-12-31, MDLZ had $795M increase in cash & cash equivalents over the period. $3,235M in free cash flow.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Net earnings | 2,466 | 4,623 | 4,968 | 2,726 |
| Depreciation and amortization | 1,358 | 1,302 | 1,215 | 1,107 |
| Stock-based compensation expense | 114 | 147 | 146 | 120 |
| Deferred income tax provision/(benefit) | 16 | 257 | -37 | -42 |
| Asset impairments and accelerated depreciation | 85 | 267 | 128 | 233 |
| Loss on early extinguishment of debt | - | - | -1 | -38 |
| Gain on divestitures and acquisition | 13 | 4 | 108 | 0 |
| Loss/(gain) on equity method investment transactions | 0 | -337 | 465 | -22 |
| Equity method investment net earnings | 65 | 175 | 160 | 385 |
| Distributions from equity method investments | 45 | 115 | 137 | 184 |
| Unrealized loss/(gain) on derivative contracts | -1,379 | 627 | 171 | - |
| Gain on marketable securities | 0 | 0 | 593 | - |
| Contingent consideration adjustments | 34 | 389 | - | - |
| Other non-cash items, net | -137 | -26 | -140 | -426 |
| Receivables, net | -433 | 519 | 628 | 719 |
| Inventories, net | 253 | 458 | 193 | 635 |
| Accounts payable | -145 | 1,682 | 264 | 715 |
| Other current assets | 225 | 591 | 120 | 286 |
| Other current liabilities | -1,026 | -932 | 376 | 630 |
| Change in pension and postretirement assets and liabilities, net | -242 | 151 | 186 | 226 |
| Net cash provided by operating activities | 4,514 | 4,910 | 4,714 | 3,908 |
| Capital expenditures | 1,279 | 1,387 | 1,112 | 906 |
| Acquisitions, net of cash received | 15 | 240 | -19 | 5,286 |
| Proceeds from divestitures including equity method investments | - | - | - | 601 |
| Proceeds from divestitures including equity method and marketable security investments | 127 | 2,294 | 4,099 | - |
| Proceeds from derivative settlements | 54 | 320 | 177 | 703 |
| Payments for derivative settlements | 165 | 199 | 81 | - |
| Contributions to investments | - | 278 | 309 | - |
| Proceeds from/(contributions to) investments | -73 | - | - | - |
| Proceeds from sale of property, plant and equipment and other | 9 | 16 | 19 | - |
| Net cash (used in)/provided by investing activities | -1,196 | 526 | 2,812 | -4,888 |
| Issuances of commercial paper, maturities greater than 90 days | 0 | 0 | 67 | 0 |
| Repayments of commercial paper, maturities greater than 90 days | 0 | 0 | 67 | 0 |
| Net issuances/(repayment) of short-term borrowings | 2,609 | -343 | -1,869 | 1,914 |
| Long-term debt proceeds | 1,594 | 1,671 | 277 | 4,490 |
| Long-term debt repayments | 2,077 | 2,554 | 2,432 | 3,032 |
| Repurchases of common stock | 2,385 | 2,334 | 1,547 | 2,017 |
| Dividends paid | 2,487 | 2,349 | 2,160 | 1,985 |
| Other | -13 | 129 | 173 | 174 |
| Net cash used in financing activities | -2,759 | -5,780 | -7,558 | -456 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 236 | -140 | -32 | -169 |
| Increase | 795 | -484 | -64 | -1,605 |
| Cash and cash equivalents at beginning of period | 1,400 | 1,884 | 1,948 | 3,553 |
| Cash and cash equivalents at end of period | 2,195 | 1,400 | 1,884 | 1,948 |
Mondelez International, Inc. (MDLZ)
Mondelez International, Inc. (MDLZ)