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Segment Information
 6 Months Ended
Jun. 30, 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 June 30, 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 June 30, 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 June 30, 2021.

The following table presents the Company’s revenues and operating income by segment:
Quarters EndedSix Months Ended
  
June 30,June 30,
In millions2021202020212020
Revenues
U.S.$2,278.8 $1,758.6 $4,354.3 $3,629.6 
International Operated Markets3,078.7 1,612.5 5,634.9 4,016.8 
International Developmental Licensed Markets & Corporate530.4 390.4 1,023.3 829.5 
Total revenues$5,887.9 $3,761.5 $11,012.5 $8,475.9 
Operating Income
U.S.$1,267.5 $735.2 $2,393.0 $1,627.6 
International Operated Markets1,272.0 234.8 2,225.8 1,113.9 
International Developmental Licensed Markets & Corporate *151.6 (8.9)353.6 (86.8)
Total operating income$2,691.1 $961.1 $4,972.4 $2,654.7 
*    Results included $98 million and $233 million for the quarter and six months, respectively, of net strategic gains primarily related to the sale of McDonald's Japan stock, which reduced the Company's total ownership by 3% for the quarter and 6% for the six months. As of June 30, 2021, the Company owned approximately 38% of McDonald's Japan. The proceeds were recorded within the other investing activities section of the Condensed Consolidated Statement of Cash Flows.