Note 14. Reclassifications from Accumulated Other Comprehensive Income
The components of accumulated other comprehensive earnings / (losses) attributable to Mondelēz International were:
| Mondelēz International Shareholders’ Equity | ||||||||||||||||
| Currency | Derivatives | |||||||||||||||
| Translation | Pension and | Accounted for | ||||||||||||||
| Adjustments | Other Benefits | as Hedges | Total | |||||||||||||
| (in millions) | ||||||||||||||||
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Balances at January 1, 2013 |
$ | (399 | ) | $ | (2,229 | ) | $ | (38 | ) | $ | (2,666 | ) | ||||
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Other comprehensive earnings / (losses), before reclassifications: |
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Currency translation adjustment |
(952 | ) | (29 | ) | – | (981 | ) | |||||||||
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Pension and other benefits |
– | 713 | – | 713 | ||||||||||||
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Derivatives accounted for |
(99 | ) | – | 169 | 70 | |||||||||||
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Losses / (gains) reclassified into |
– | 197 | 72 | 269 | ||||||||||||
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Tax (expense) / benefit |
36 | (244 | ) | (86 | ) | (294 | ) | |||||||||
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Total other comprehensive |
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(223 | ) | |||||||||||||
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Balances at December 31, 2013 |
$ | (1,414 | ) | $ | (1,592 | ) | $ | 117 | $ | (2,889 | ) | |||||
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Amounts reclassified from accumulated other comprehensive earnings / (losses) during 2013 and their locations in the condensed consolidated financial statements were as follows:
| Location of | ||||||
| Gain / (Loss) | ||||||
| Recognized | ||||||
| 2013 |
in Net Earnings |
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| (in millions) | ||||||
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Pension and other benefits: |
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Reclassification of losses / (gains) into net earnings: |
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Amortization of experience losses and prior service costs(1) |
$ | 193 | ||||
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Settlement losses(1) |
4 | |||||
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Tax impact |
(50 | ) | Provision for income taxes | |||
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Derivatives accounted for as hedges: |
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Reclassification of losses / (gains) into net earnings: |
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Foreign exchange contracts – forecasted transactions |
28 | Cost of sales | ||||
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Commodity contracts |
38 | Cost of sales | ||||
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Interest rate contracts |
6 | Interest and other expense, net | ||||
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Tax impact |
(19 | ) | Provision for income taxes | |||
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Total reclassifications into net earnings, net of tax |
200 | |||||
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| (1) | These items are included in the components of net periodic benefit costs disclosed in Note 10, Benefit Plans. |