The American chocolatier records a $460 million pretax gain on commodity derivatives as cocoa futures hit record highs last year.

The Oreo maker warned of “unprecedented” inflation for the commodity that would reduce its earnings, while the Kisses giant cautioned of a disconnect between fundamentals and market price.

Cadbury-parent Mondelez International forecast a bigger-than-estimated drop in its annual profit on Tuesday, signaling pressures from higher costs, including from surging cocoa prices, sending its shares down nearly 6% after the bell.