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

The primary purpose of this Form 8-K filing is to officially report Kraft Foods Inc.'s (now Mondelez International) financial results for the second quarter of 2008, as announced in their press release dated July 28, 2008. It makes the earnings announcement publicly available through the SEC filing system.

Why does Kraft Foods use non-GAAP financial measures?

Kraft Foods uses non-GAAP financial measures, such as organic net revenues and adjusted operating income, to provide investors with a clearer understanding of the company's underlying business performance. These measures exclude certain items that management believes do not reflect the core operational results, such as restructuring costs, asset impairments, and impacts from acquisitions/divestitures, thereby facilitating better comparisons between different periods.

What are some of the 'items' excluded from non-GAAP measures?

The 'items' excluded from non-GAAP measures in this filing typically include asset impairment charges, exit and implementation costs related to restructuring programs, gains or losses on divestitures, and other one-time costs or adjustments. The specific items excluded can vary and are detailed in the accompanying press release and any financial statement reconciliations.

How should investors interpret the use of non-GAAP financial measures?

Investors should interpret non-GAAP financial measures as supplemental information that offers an alternative perspective on the company's financial performance. While management finds them useful for evaluating business trends and operational effectiveness, they have limitations and should always be considered in conjunction with the company's official GAAP-based financial results. It's also important to note that non-GAAP measures used by Kraft Foods may differ from those used by other companies.

MDLZ 8-K: Earnings & Results

Summary

This Form 8-K filing by Kraft Foods Inc. (now Mondelez International) on July 28, 2008, primarily serves to furnish their second-quarter 2008 earnings press release. The report details financial results for the quarter ended June 30, 2008, and emphasizes the company's use of both Generally Accepted Accounting Principles (GAAP) and non-GAAP financial measures. Management believes these non-GAAP measures, which exclude items like restructuring charges, asset impairments, and gains/losses on divestitures, offer a clearer view of underlying business performance and facilitate comparisons with prior periods. Key non-GAAP metrics discussed include organic net revenues (excluding acquisitions, divestitures, and currency impacts) and adjusted operating income. The company states these alternative measures are used internally for strategic decision-making and budgeting, and are provided to investors to enhance transparency and understanding of operational trends. Investors are cautioned that these non-GAAP measures should be considered alongside GAAP results and may differ from those used by other companies.

Key Highlights

1Kraft Foods Inc. filed an 8-K on July 28, 2008, to report its second-quarter 2008 financial results.
2The filing includes a press release (Exhibit 99.1) detailing the company's performance for the quarter ended June 30, 2008.
3Kraft Foods emphasizes its use of non-GAAP financial measures alongside GAAP results to provide a clearer view of operational performance.
4Non-GAAP measures are presented to exclude items affecting comparability, such as restructuring program costs and asset impairments.
5Organic net revenues, excluding acquisitions, divestitures, and currency impacts, are highlighted as a key top-line guidance measure.
6Management believes non-GAAP measures aid in comparing current results to historical performance and identifying business trends.
7Investors are advised that non-GAAP measures have limitations and should be viewed in addition to, not as an alternative to, GAAP financial measures.

Mondelez International, Inc. 8-K Report, Financial Results (Jul 28, 2008)

Summary

Key Highlights

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