Income Statement

McDonald's Corp., Consolidated Income Statement

USD $ in thousands

 
12 months ended Dec 31, 2013 Dec 31, 2012 Dec 31, 2011 Dec 31, 2010 Dec 31, 2009
Sales by Company-operated restaurants 18,874,200  18,602,500  18,292,800  16,233,300  15,458,500 
Revenues from franchised restaurants 9,231,500  8,964,500  8,713,200  7,841,300  7,286,200 
Revenues 28,105,700  27,567,000  27,006,000  24,074,600  22,744,700 
Food & paper (6,361,300) (6,318,200) (6,167,200) (5,300,100) (5,178,000)
Payroll & employee benefits (4,824,100) (4,710,300) (4,606,300) (4,121,400) (3,965,600)
Occupancy & other operating expenses (4,393,200) (4,195,200) (4,064,400) (3,638,000) (3,507,600)
Company-operated restaurant expenses (15,578,600) (15,223,700) (14,837,900) (13,059,500) (12,651,200)
Franchised restaurants, occupancy expenses (1,624,400) (1,527,000) (1,481,500) (1,377,800) (1,301,700)
Gross margin 10,902,700  10,816,300  10,686,600  9,637,300  8,791,800 
Selling, general & administrative expenses (2,385,600) (2,455,200) (2,393,700) (2,333,300) (2,234,200)
Gains on sales of restaurant businesses 199,400  151,500  81,800  79,400  113,300 
Equity in earnings of unconsolidated affiliates 78,200  143,500  178,000  164,300  167,800 
Asset dispositions and other expense (30,400) (51,500) (23,000) (74,600) 2,300 
Other operating income (expense), net 247,200  243,500  236,800  169,100  283,400 
Operating income 8,764,300  8,604,600  8,529,700  7,473,100  6,841,000 
Interest expense, net of capitalized interest (521,900) (516,600) (492,800) (450,900) (473,200)
Nonoperating income (expense), net (37,900) (9,000) (24,700) (21,900) 24,300 
Gain on sale of investment 94,900 
Income before provision for income taxes 8,204,500  8,079,000  8,012,200  7,000,300  6,487,000 
Provision for income taxes (2,618,600) (2,614,200) (2,509,100) (2,054,000) (1,936,000)
Net income 5,585,900  5,464,800  5,503,100  4,946,300  4,551,000 
Source: McDonald's Corp., Annual Reports
Item Description The company
Revenues Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. McDonald's Corp.'s revenues increased from 2011 to 2012 and from 2012 to 2013.
Operating income The net result for the period of deducting operating expenses from operating revenues. McDonald's Corp.'s operating income increased from 2011 to 2012 and from 2012 to 2013.
Income before provision for income taxes Sum of operating profit and nonoperating income (expense) before income (loss) from equity method investments, income taxes, extraordinary items, cumulative effects of changes in accounting principles, and noncontrolling interest. McDonald's Corp.'s income before provision for income taxes increased from 2011 to 2012 and from 2012 to 2013.
Net income The portion of consolidated profit or loss for the period, net of income taxes, which is attributable to the parent. If the entity does not present consolidated financial statements, the amount of profit or loss for the period, net of income taxes. McDonald's Corp.'s net income declined from 2011 to 2012 but then increased from 2012 to 2013 exceeding 2011 level.

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