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Segment Information
3 Months Ended
Mar. 31, 2023
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, 2023.
International Operated Markets - comprised of markets or countries in which the Company operates and franchises restaurants, including Australia, Canada, France, Germany, Italy, the Netherlands, Spain and the U.K. The segment is 89% franchised as of March 31, 2023. During the second quarter of 2022, the Company completed the sale of its business in Russia, resulting in a total exit from the market.
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 March 31, 2023.

The following table presents the Company’s revenues and operating income by segment:
Quarters Ended
  
March 31,
In millions20232022
Revenues
U.S.$2,487.6 $2,175.6 
International Operated Markets2,794.8 2,922.1 
International Developmental Licensed Markets & Corporate615.4 567.9 
Total revenues$5,897.8 $5,665.6 
Operating Income
U.S.$1,295.1 $1,151.0 
International Operated Markets1,192.7 1,129.2 
International Developmental Licensed Markets & Corporate44.6 32.4 
Total operating income$2,532.4 $2,312.6