What is the main purpose of this 8-K filing?

The primary purpose of this 8-K filing is to announce Kraft Foods Inc.'s financial results for the second quarter ended June 30, 2007, and to furnish the accompanying earnings press release.

What are 'organic net revenues' and why does the company use this metric?

Organic net revenues are a non-GAAP measure that excludes the impact of acquisitions, divestitures, and currency fluctuations. The company uses this metric because management believes it provides a more accurate reflection of the company's ongoing revenue performance and allows for better comparability across different periods.

What types of 'items' are excluded when reporting non-GAAP financial measures like adjusted operating income?

The 'items' excluded typically include costs related to restructuring programs (such as asset impairments, exit costs, and implementation costs), charges for asset impairments on long-lived assets, gains or losses from the sale of businesses, and certain tax-related adjustments like interest from tax reserve transfers or resolutions of IRS tax audits. These are considered items that affect the comparability of results.

Where can investors find more detailed financial information and reconciliations?

Detailed financial data, including reconciliations of non-GAAP measures to the nearest comparable GAAP measures, can be found in the press release furnished as Exhibit 99.1 to this 8-K filing and is also available on the company's website (www.kraft.com).

MDLZ 8-K: Earnings & Results

Summary

This 8-K filing from Kraft Foods Inc. (the predecessor to Mondelez International) on August 1, 2007, primarily announces the company's second-quarter earnings for the period ending June 30, 2007. The report highlights the company's use of non-GAAP financial measures, such as organic net revenues and adjusted operating income, to provide a clearer view of performance trends by excluding items that impact comparability. Management believes these measures offer investors enhanced insights into the company's operational performance and financial health. Investors should note that the filing emphasizes the importance of reviewing both GAAP and non-GAAP figures, with detailed reconciliations available in the furnished press release and on the company's website. The focus on organic net revenues and adjusted operating results suggests the company is managing significant restructuring efforts and other one-time items that affect reported earnings, aiming to present a more consistent operational picture.

Key Highlights

1Kraft Foods Inc. reported its second-quarter 2007 financial results on August 1, 2007.
2The company is utilizing non-GAAP financial measures, including organic net revenues and adjusted operating income, to provide additional insights into performance.
3Organic net revenues exclude the impact of acquisitions, divestitures, and currency fluctuations to better reflect go-forward revenue trends.
4Non-GAAP measures are used to facilitate comparisons between current and prior operating periods and to align with management's internal performance evaluation.
5Specific items excluded from GAAP results include restructuring program costs (asset impairment, exit, and implementation costs), asset impairments, gains/losses on business sales, and tax-related adjustments.
6A press release with detailed financial data, including reconciliations of non-GAAP to GAAP measures, was furnished as Exhibit 99.1.
7Investors are advised to review both GAAP and non-GAAP figures, and reconciliations are available on the company website.

Mondelez International, Inc. 8-K Report, Financial Results (Aug 1, 2007)

Summary

Key Highlights

Frequently Asked Questions