Summary
This Form 8-K filing by Kraft Foods Inc. (the predecessor to Mondelez International, Inc.) on December 16, 2008, primarily serves to provide updated financial information related to the previously completed split-off of its Post cereals business. The filing confirms that the Post business has been reflected as discontinued operations since the third quarter of 2008, with prior periods restated accordingly. Investors should note that this reporting change impacts the comparability of financial results, as the revenue and expenses associated with the Post business are now presented separately from the ongoing operations. The core purpose of this 8-K is to attach updated financial schedules (Exhibit 99.1) that reflect the Post cereals business as discontinued operations for the years ended December 31, 2007, and 2006. This restatement is crucial for understanding the historical financial performance of Kraft Foods' core, continuing businesses, removing the influence of the divested Post segment. Investors should review these updated schedules to gain a clearer perspective on the company's underlying operational trends and profitability.
Key Highlights
- 1Kraft Foods Inc. (now Mondelez International) filed an 8-K on December 16, 2008.
- 2The filing's main purpose is to report on the discontinued operations status of the Post cereals business.
- 3The split-off of the Post cereals business was completed on August 4, 2008.
- 4Results of the Post cereals business have been reflected as discontinued operations starting in Q3 2008.
- 5Prior period financial results have been restated to align with the discontinued operations classification.
- 6Exhibit 99.1 contains updated unaudited financial schedules for 2007 and 2006 reflecting the Post business as discontinued operations.
- 7This filing provides historical financial data adjusted for the divestiture of a significant business segment.