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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 EndedNine Months Ended
  
September 30,September 30,
In millions2025202420252024
U.S.$2,772 $2,739 $8,048 $7,997 
International Operated Markets3,658 3,309 10,035 9,443 
International Developmental Licensed Markets & Corporate648 825 1,793 2,092 
Total Revenues$7,078 $6,873 $19,876 $19,532 
U.S.$325 $326 $968 $972 
International Operated Markets341 318 971 919 
International Developmental Licensed Markets & Corporate 1 11 
Total Franchised restaurants-occupancy expenses$666 $646 $1,940 $1,902 
U.S.$701 $717 $2,040 $2,089 
International Operated Markets1,357 1,227 3,765 3,567 
International Developmental Licensed Markets & Corporate115 305 304 702 
Total Company-operated restaurant expenses$2,172 $2,248 $6,109 $6,358 
U.S.$185 $152 $478 $429 
International Operated Markets170 147 505 457 
International Developmental Licensed Markets & Corporate429 348 1,185 1,172 
Total Selling, general, & administrative expenses$785 $647 $2,167 $2,059 
U.S.$63 $51 $235 $107 
International Operated Markets28 15 108 40 
International Developmental Licensed Markets & Corporate7 76 80 223 
Total Other segment items*$98 $143 $423 $370 
U.S.$1,498 $1,493 $4,327 $4,400 
International Operated Markets1,761 1,602 4,686 4,459 
International Developmental Licensed Markets & Corporate97 93 224 (15)
Total Operating income$3,357 $3,188 $9,237 $8,844 
U.S.$400 $336 $943 $813 
International Operated Markets607 455 1,347 1,109 
International Developmental Licensed Markets & Corporate3 16 46 
Total Capital expenditures$1,011 $794 $2,306 $1,968 
U.S.$249 $247 $742 $739 
International Operated Markets201 188 579 542 
International Developmental Licensed Markets & Corporate109 97 303 262 
Total Depreciation & amortization**$559 $532 $1,623 $1,544 

In millionsSeptember 30, 2025December 31, 2024
U.S.$22,840 $22,547 
International Operated Markets27,504 23,491 
International Developmental Licensed Markets & Corporate10,265 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.