Segment Information (Tables)

6 Months Ended

Jun. 30, 2021

Revenues and Operating Income by Geographic Segment

The following table presents the Company’s revenues and operating income by segment:


	Quarters Ended				Six Months Ended
	June 30,				June 30,
In millions	2021		2020		2021		2020
Revenues
U.S.	$	2,278.8	$	1,758.6	$	4,354.3	$	3,629.6
International Operated Markets	3,078.7		1,612.5		5,634.9		4,016.8
International Developmental Licensed Markets & Corporate	530.4		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 Markets	1,272.0		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.