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Segment Information
 3 Months Ended
Mar. 31, 2021
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 March 31, 2021.
•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 March 31, 2021.
•International Developmental Licensed Markets & Corporate - comprised of primarily 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 March 31, 2021.
The following table presents the Company’s revenues and operating income by segment:
Quarters Ended
  
March 31,
In millions20212020
Revenues
U.S.$2,075.5 $1,871.0 
International Operated Markets2,556.2 2,404.3 
International Developmental Licensed Markets & Corporate492.9 439.1 
Total revenues$5,124.6 $4,714.4 
Operating Income
U.S.$1,125.5 $892.4 
International Operated Markets953.8 879.1 
International Developmental Licensed Markets & Corporate *202.0 (77.9)
Total operating income$2,281.3 $1,693.6 
*    Results for the quarter 2021 included $128.6 million of strategic gains related to the sale of McDonald's Japan stock, which reduced the Company's ownership by an additional 3%. As of March 31, 2021, the Company owned approximately 41% of McDonald's Japan. The proceeds were recorded within the other investing activities section of the Condensed Consolidated Statement of Cash Flows.