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Segment Information
 9 Months Ended
Sep. 30, 2020
Segment Reporting [Abstract]  
Segment Information
Segment Information
The Company 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 September 30, 2020.
•
International Operated Markets - comprised of wholly-owned markets, or countries in which the Company operates restaurants, including Australia, Canada, France, Germany, Italy, the Netherlands, Russia, Spain and the U.K. The segment is 84% franchised as of September 30, 2020.
•
International Developmental Licensed Markets & Corporate - comprised of primarily developmental licensee and affiliate markets in the McDonald’s system. Corporate activities are also reported within this segment. The segment is 98% franchised as of September 30, 2020.
The following table presents the Company’s revenues and operating income by segment:
 
Quarters Ended
 
Nine Months Ended
  
September 30,
 
September 30,
In millions
2020
 
2019
 
2020
 
2019
Revenues
 
 
 
 
 
 
 
U.S.
$
2,094.2

 
$
2,028.5

 
$
5,723.8

 
$
5,959.9

International Operated Markets
2,845.9

 
2,986.2

 
6,862.7

 
8,573.4

International Developmental Licensed Markets & Corporate
478.0

 
487.6

 
1,307.5

 
1,402.9

Total revenues
$
5,418.1

 
$
5,502.3

 
$
13,894.0

 
$
15,936.2

Operating Income
 
 
 
 
 
 
 
U.S.
$
1,078.3

 
$
1,038.7

 
$
2,705.9

 
$
3,039.4

International Operated Markets
1,197.9

 
1,284.0

 
2,311.8

 
3,550.8

International Developmental Licensed Markets & Corporate *
250.2

 
86.6

 
163.4

 
187.0

Total operating income
$
2,526.4

 
$
2,409.3

 
$
5,181.1

 
$
6,777.2


*
Results for the quarter and nine months 2020 included $139 million of strategic gains related to the sale of McDonald's Japan stock, which reduced the Company's ownership by about 3%.