Segment and Geographic Information

12 Months Ended

Dec. 31, 2019

On February 25, 2019, the Company provided investors with segment summary financial information and other data in accordance with its new organizational structure for the previously reported years ended December 31, 2016 through 2018. Effective January 1, 2019, McDonald’s operates under an organizational structure with the following global business segments reflecting how management reviews and evaluates operating performance:


•	U.S. - the Company’s largest market. The segment is 95% franchised as of December 31, 2019.


•	International Operated Markets - comprised of markets, or countries in which the Company operates and franchises restaurants, including Australia, Canada, France, Germany, Italy, the Netherlands, Russia, Spain and the U.K. The segment is 84% franchised as of December 31, 2019.


•	International Developmental Licensed Markets & Corporate - comprised primarily of developmental licensee and affiliate markets in the McDonald’s system. Corporate activities are also reported in this segment. The segment is 98% franchised as of December 31, 2019.

In April and October 2019, the Company completed the acquisitions of Dynamic Yield and Apprente, respectively. The related financial performance is reflected within the International Developmental Licensed Markets & Corporate segment from the dates of acquisition.

All intercompany revenues and expenses are eliminated in computing revenues and operating income. Corporate general and administrative expenses consist of home office support costs in areas such as facilities, finance, human resources, information technology, legal, marketing, restaurant operations, supply chain and training. Corporate assets include corporate cash and equivalents, asset portions of financial instruments and home office facilities.



In millions	2019		2018		2017
U.S.	$	7,842.7	$	7,665.8	$	8,006.4
International Operated Markets	11,398.6		11,506.7		11,115.9
International Developmental Licensed Markets & Corporate	1,835.2		1,852.7		3,698.1
Total revenues	$	21,076.5	$	21,025.2	$	22,820.4
U.S.	$	4,068.7	$	4,015.6	$	4,022.4
International Operated Markets	4,789.0		4,643.2		4,173.6
International Developmental Licensed Markets & Corporate	212.1		163.8		1,356.7
Total operating income	$	9,069.8	$	8,822.6	$	9,552.7
U.S.	$	21,376.9	$	14,483.8	$	12,648.6
International Operated Markets	22,847.5		17,302.3		16,254.8
International Developmental Licensed Markets & Corporate	3,286.4		1,025.1		4,900.3
Total assets *	$	47,510.8	$	32,811.2	$	33,803.7
U.S.	$	1,480.5	$	1,849.8	$	861.2
International Operated Markets	886.6		762.4		808.0
International Developmental Licensed Markets & Corporate	26.6		129.5		184.5
Total capital expenditures	$	2,393.7	$	2,741.7	$	1,853.7
U.S.	$	730.2	$	598.4	$	524.1
International Operated Markets	669.3		703.9		687.1
International Developmental Licensed Markets & Corporate	218.4		179.7		152.2
Total depreciation and amortization	$	1,617.9	$	1,482.0	$	1,363.4

* Total assets increased from 2018 to 2019 primarily due to the Company's right-of-use asset recorded as a result of the adoption of ASC 842.

Total long-lived assets, primarily property and equipment and beginning in 2019, the Company's lease right-of-use asset, were (in millions)–Consolidated: 2019–$38,291.5; 2018– $23,671.1; U.S. based: 2019–$19,487.6; 2018–$12,250.3.