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Consolidated Statement of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating activities      
Net income $ 8,223.0 $ 8,469.0 $ 6,177.0
Charges and credits:      
Depreciation and amortization 2,097.0 1,978.0 1,871.0
Deferred income taxes (574.0) (686.0) (346.0)
Share-based compensation expense 172.0 175.0 167.0
Net (gain) loss on sale of restaurant and other businesses (37.0) (103.0) 733.0
Other 3.0 (113.0) (570.0)
Changes in working capital items:      
Accounts receivable 10.0 (161.0) (264.0)
Inventories, prepaid expenses and other current assets 71.0 17.0 6.0
Accounts payable (10.0) 50.0 31.0
Income taxes (292.0) (220.0) (547.0)
Other accrued liabilities (217.0) 206.0 129.0
Cash provided by operations 9,447.0 9,612.0 7,387.0
Investing activities      
Capital expenditures (2,775.0) (2,357.0) (1,899.0)
Purchases of restaurant businesses (669.0) (441.0) (807.0)
Payments to Acquire Equity Method Investments 1,837.0 0.0 0.0
Sales of restaurant and other businesses 311.0 195.0 446.0
Sales of property 122.0 95.0 39.0
Other (498.0) (676.0) (457.0)
Cash used for investing activities (5,346.0) (3,185.0) (2,678.0)
Financing activities      
Net short-term borrowings 326.0 213.0 26.0
Long-term financing issuances 2,380.0 5,221.0 3,374.0
Long-term financing repayments (2,777.0) (2,441.0) (2,202.0)
Treasury stock purchases (2,824.0) (3,054.0) (3,896.0)
Common stock dividends (4,870.0) (4,533.0) (4,168.0)
Proceeds from stock option exercises 328.0 260.0 248.0
Other (56.0) (40.0) 38.0
Cash used for financing activities (7,495.0) (4,374.0) (6,580.0)
Effect of exchange rates on cash and equivalents (101.0) (58.0) (254.0)
Cash and equivalents increase (decrease) (3,494.0) 1,996.0 (2,126.0)
Cash and equivalents at beginning of year 4,579.0 2,584.0 4,709.0
Cash and equivalents at end of year 1,085.0 4,579.0 2,584.0
Supplemental cash flow disclosures      
Interest Paid 1,523.0 1,287.0 1,184.0
Income taxes paid $ 2,974.0 $ 2,993.0 $ 3,024.0