Compute and Analyze Measures for DuPont Disaggregation Analysis. Refer to the fiscal 2015 financial data of Mondelez International inc. In Pa-51 to answer the following requirements. compute ROE for fiscal 2015. Confirm that ROE equals ROE computed using the component measures for profit margin, assets turnover, and financial leverage using: ROE=PMxATxFL. Compute adjusted ROA.Compare the adjusted and unadjusted ROA ratios and explain why they differ.
As of December 31 (in millions, expect share data) 2015 2014 Liabilities... Short-term borrowings. Current portion of long-term debt Accounts payable. Accrued marketing. Accrued employment costs Other current liabilities. Total current liabilities. Long-term debt Deferred income taxes Accrued pension costs. Accrued postretirement health care costs Other liabilities Total liabilities Equity Common stock, no par value (1,996,537,778 shares issued at 2015 and 2014). Additional paid-in capital. Retained earnings Accumulated other comprehensive losses reasury stock, at cost. Cotal Mondelz International shareholders' equity. Honcontrolling interest Total equity ..... Total liabilties and equity.. $ 236 605 4,890 1,634 844 2,713 10,922 14,557 4,750 2,183 499 1,832 $34,743 $ 1,305 1,530 5,299 2,047 946 2,880 14,007 13,821 5,512 2,912 526 2,140 $38,918 31,760 20,700 (9,986) (14,462) 28,012 88 28,100 $62,843 31,651 14,529 (7,318) (11,112) 27,750 103 27,853 $66,771 2014 MONDELEZ INTERN Consolidated Statement of Earnings For the Years Ended December 31 (in millions) 2015 2013 $29,636 18,124 11,512 7,577 901 $34,244 21,647 12,597 8,457 692 $35,299 22,189 13,110 8,679 273 (30) .... (6,822) 778 181 8,897 1,013 206 3,242 688 217 3,971 1,579 Net revenues Cost of sales. Gross profit. Selling, general and administrative expenses Asset impairment and exit costs... Gains on coffee business transactions and divestitures ...... Loss on deconsolidation of Venezuela. Amortization of intangibles. Operating income. Interest and other expense, net Earnings from continuing operations before income taxes .... Provision for income taxes Earnings from continuing operations Earnings from discontinued operations, net of income taxes Net earnings Noncontrolling interest . Net earnings attributable to Mondelz International 7,884 593 7,291 2,554 353 2,201 2,392 60 2,332 7,291 24 2,201 17 1,603 3,935 20 $ 7,267 $ 2,184 $ 3,915 MONDELEZ INTERNATIONAL INC. Consolidated Balance Sheets As of December 31 (in millions, expect share data) 2015 2014 $ 1,870 $ 1,631 2,634 3,802 1,212 2,609 Assets Cash and cash equivalents Trade receivables (net of allowances of $54 at 2015 and $66 at 2014) Other receivables (net of allowances of $109 at 2015 and $91 at 2014) Inventories, net.. Deferred income taxes. Other current assets. Total current assets.. Property, plant and equipment, net Goodwill... Intangible assets, net. Prepaid pension assets Equity method investments Other assets Total Assets. 633 8,958 8,362 20,664 18,768 69 5,387 635 949 3,480 480 1,408 11,750 9,827 23,389 20,335 53 662 755 $66,771 $62,843
