Mondelez International, Inc.MDLZ

Mondelez International, Inc. Leases Disclosure

10-KFiled Feb 4, 20262 min read
Note 5. Leases

We have operating and finance leases for manufacturing and distribution facilities, vehicles, equipment and office space. Our leases generally have remaining lease terms of 1 to 14 years, some of which include options to extend the leases for up to 10 years.

The components of lease costs were as follows:
For the Years Ended December 31,
202520242023
(in millions)
Operating lease cost$246 $234 $223 
Finance lease cost:
Amortization of ROU assets
160 144 130 
Interest on lease liabilities21 18 15 
Short-term lease cost17 15 12 
Variable lease cost527 637 766 
Sublease income(3)(3)(4)
Total lease cost$968 $1,045 $1,142 

Supplemental cash flow information related to leases was as follows:
For the Years Ended December 31,
202520242023
(in millions)
Cash paid for amounts included in the measurement of
   lease liabilities:
Operating cash flows from operating leases$(241)$(228)$(222)
Operating cash flows from finance leases(21)(18)(15)
Financing cash flows from finance leases(155)(139)(125)
ROU assets obtained in exchange for lease obligations:
Operating leases$141 $272 $197 
Finance leases251 124 163 
Supplemental balance sheet information related to leases was as follows:
As of December 31,
20252024
(in millions)
Operating Leases
Operating lease ROU assets
$731 $767 
Other current liabilities$164 $172 
Long-term operating lease liabilities599 623 
Total operating lease liabilities$763 $795 
Finance Leases
Property, plant and equipment, net
$402 $292 
Current portion of long-term debt$137 $126 
Long-term debt286 183 
Total finance lease liabilities$423 $309 
Weighted Average Remaining Lease Term
Operating leases6.3 years6.7 years
Finance leases4.2 years3.3 years
Weighted Average Discount Rate
Operating leases5.4 %5.5 %
Finance leases4.8 %5.1 %

Maturities of lease liabilities were as follows:
As of December 31, 2025
Operating LeasesFinance Leases
(in millions)
Year Ending December 31:
2026$206 $153 
2027155 109 
2028135 78 
2029105 52 
203090 34 
Thereafter216 39 
Total future undiscounted lease payments$907 $465 
     less: imputed interest
(144)(42)
Total reported lease liability$763 $423 

Historical Timeline

Fiscal YearFiled
2025Feb 4, 2026Showing above
2024Feb 5, 2025
2023Feb 2, 2024
2022Feb 3, 2023
2021Feb 4, 2022
2020Feb 5, 2021
2019Feb 7, 2020

About Leases Disclosures

Lease disclosures under ASC 842 provide a comprehensive view of a company's leased asset portfolio, including the split between operating and finance leases, discount rates used to present-value future payments, and the maturity schedule of lease obligations. This section reveals a significant source of off-balance-sheet commitments that were largely hidden before the current standard.

Key signals: the weighted-average discount rate affects the size of recorded lease liabilities — a higher rate reduces the reported obligation, so compare the chosen rate against the company's incremental borrowing rate. The operating versus finance lease mix affects both EBITDA and operating income presentation. Watch the maturity table for concentration risk: large payment cliffs in specific years may create cash flow pressure. Variable lease payments excluded from the liability measurement represent real obligations that do not appear on the balance sheet. Compare total lease costs against prior-year operating lease expense to assess the true economic burden.

Other Available Disclosures

Income TaxesRevenueEarnings Per SharePP&EGoodwill & IntangiblesSegmentsDebtCommitmentsStock CompensationNew StandardsPay vs Performance