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Segment Information | 9 Months Ended
--- | ---
Sep. 30, 2025
Segment Reporting [Abstract] |
Segment Information | Segment Information The Company operates under the following global organizational structure, reflecting how management reviews and evaluates operating performance: •U.S. segment - the Company's largest market. The segment is 95% franchised as of September 30, 2025. •International Operated Markets segment - comprised of markets or countries in which the Company owns and operates and franchises restaurants, including Australia, Canada, France, Germany, Italy, Poland, Spain and the U.K. The segment is 89% franchised as of September 30, 2025. •International Developmental Licensed Markets & Corporate - comprised primarily of developmental licensee and affiliate markets in the McDonald’s System, including equity method investments in China and Japan, as well as Corporate activities. The International Developmental Licensed Markets are 99% franchised as of September 30, 2025. The Company's chief operating decision makers ("CODMs") are the President and Chief Executive Officer ("CEO") and the Executive Vice President and Global Chief Financial Officer ("CFO"). Segment performance is evaluated based on one measure of a segment's profit or loss, operating income, which is used to allocate resources in the annual planning process. Throughout the year, the CODMs consider forecast to actual operating income results and variances against plan to evaluate segment performance and priorities related to allocation of capital and resources supporting organizational objectives. All intercompany revenues and expenses are eliminated in computing revenues and operating income. Corporate general and administrative expenses consist of corporate office support costs in areas such as facilities, finance, human resources, information technology, legal, marketing, restaurant operations, supply chain and training. Corporate assets include corporate cash and equivalents, financial instruments and office facilities.
| Quarters Ended |  | Nine Months Ended
| September 30, |  | September 30,
In millions | 2025 |  | 2024 |  | 2025 |  | 2024
U.S. | $ | 2,772 |  |  | $ | 2,739 |  |  | $ | 8,048 |  |  | $ | 7,997 |
International Operated Markets | 3,658 |  |  | 3,309 |  |  | 10,035 |  |  | 9,443 |
International Developmental Licensed Markets & Corporate | 648 |  |  | 825 |  |  | 1,793 |  |  | 2,092 |
Total Revenues | $ | 7,078 |  |  | $ | 6,873 |  |  | $ | 19,876 |  |  | $ | 19,532 |
U.S. | $ | 325 |  |  | $ | 326 |  |  | $ | 968 |  |  | $ | 972 |
International Operated Markets | 341 |  |  | 318 |  |  | 971 |  |  | 919 |
International Developmental Licensed Markets & Corporate | — |  |  | 2 |  |  | 1 |  |  | 11 |
Total Franchised restaurants-occupancy expenses | $ | 666 |  |  | $ | 646 |  |  | $ | 1,940 |  |  | $ | 1,902 |
U.S. | $ | 701 |  |  | $ | 717 |  |  | $ | 2,040 |  |  | $ | 2,089 |
International Operated Markets | 1,357 |  |  | 1,227 |  |  | 3,765 |  |  | 3,567 |
International Developmental Licensed Markets & Corporate | 115 |  |  | 305 |  |  | 304 |  |  | 702 |
Total Company-operated restaurant expenses | $ | 2,172 |  |  | $ | 2,248 |  |  | $ | 6,109 |  |  | $ | 6,358 |
U.S. | $ | 185 |  |  | $ | 152 |  |  | $ | 478 |  |  | $ | 429 |
International Operated Markets | 170 |  |  | 147 |  |  | 505 |  |  | 457 |
International Developmental Licensed Markets & Corporate | 429 |  |  | 348 |  |  | 1,185 |  |  | 1,172 |
Total Selling, general, & administrative expenses | $ | 785 |  |  | $ | 647 |  |  | $ | 2,167 |  |  | $ | 2,059 |
U.S. | $ | 63 |  |  | $ | 51 |  |  | $ | 235 |  |  | $ | 107 |
International Operated Markets | 28 |  |  | 15 |  |  | 108 |  |  | 40 |
International Developmental Licensed Markets & Corporate | 7 |  |  | 76 |  |  | 80 |  |  | 223 |
Total Other segment items* | $ | 98 |  |  | $ | 143 |  |  | $ | 423 |  |  | $ | 370 |
U.S. | $ | 1,498 |  |  | $ | 1,493 |  |  | $ | 4,327 |  |  | $ | 4,400 |
International Operated Markets | 1,761 |  |  | 1,602 |  |  | 4,686 |  |  | 4,459 |
International Developmental Licensed Markets & Corporate | 97 |  |  | 93 |  |  | 224 |  |  | (15) |
Total Operating income | $ | 3,357 |  |  | $ | 3,188 |  |  | $ | 9,237 |  |  | $ | 8,844 |
U.S. | $ | 400 |  |  | $ | 336 |  |  | $ | 943 |  |  | $ | 813 |
International Operated Markets | 607 |  |  | 455 |  |  | 1,347 |  |  | 1,109 |
International Developmental Licensed Markets & Corporate | 3 |  |  | 3 |  |  | 16 |  |  | 46 |
Total Capital expenditures | $ | 1,011 |  |  | $ | 794 |  |  | $ | 2,306 |  |  | $ | 1,968 |
U.S. | $ | 249 |  |  | $ | 247 |  |  | $ | 742 |  |  | $ | 739 |
International Operated Markets | 201 |  |  | 188 |  |  | 579 |  |  | 542 |
International Developmental Licensed Markets & Corporate | 109 |  |  | 97 |  |  | 303 |  |  | 262 |
Total Depreciation & amortization** | $ | 559 |  |  | $ | 532 |  |  | $ | 1,623 |  |  | $ | 1,544 |
In millions | September 30, 2025 |  | December 31, 2024
U.S. | $ | 22,840 |  |  | $ | 22,547 |
International Operated Markets | 27,504 |  |  | 23,491 |
International Developmental Licensed Markets & Corporate | 10,265 |  |  | 9,143 |
Total Assets | $ | 60,608 |  |  | $ | 55,182 |
*Other segment items is the difference between revenues less the significant expenses disclosed and operating income. This includes other restaurant expenses and other operating expenses included in the Other operating (income) expense, net line within the Condensed Consolidated Statement of Income. **Total depreciation & amortization is included within the respective expense lines disclosed above, such as Company-operated restaurant expenses, Franchised restaurants-occupancy expenses, and Selling, general & administrative expenses.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name 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