Condensed Consolidated Statement of Income - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2024 |
Jun. 30, 2023 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|
| Revenues | ||||
| Sales by Company-owned and operated restaurants | $ 2,461.0 | $ 2,487.0 | $ 4,816.0 | $ 4,711.0 |
| Revenues from franchised restaurants | 3,940.0 | 3,933.0 | 7,663.0 | 7,521.0 |
| Other Revenues | 89.0 | 77.0 | 180.0 | 163.0 |
| Total revenues | 6,490.0 | 6,498.0 | 12,659.0 | 12,395.0 |
| Operating costs and expenses | ||||
| Company-operated restaurant expenses | 2,074.0 | 2,091.0 | 4,109.0 | 4,014.0 |
| Franchised restaurants-occupancy expenses | 629.0 | 618.0 | 1,256.0 | 1,216.0 |
| Other Restaurant Expenses | 69.0 | 57.0 | 137.0 | 120.0 |
| Selling, general & administrative expenses | ||||
| Depreciation and Amortization | 101.0 | 95.0 | 199.0 | 194.0 |
| Other Selling, General and Administrative Expense | 590.0 | 567.0 | 1,212.0 | 1,121.0 |
| Other operating (income) expense, net | (107.0) | 36.0 | (90.0) | (93.0) |
| Total operating costs and expenses | 3,570.0 | 3,393.0 | 7,003.0 | 6,759.0 |
| Operating income | 2,920.0 | 3,104.0 | 5,655.0 | 5,637.0 |
| Interest expense | 373.0 | 330.0 | 746.0 | 660.0 |
| Nonoperating (income) expense, net | 9.0 | 43.0 | (54.0) | 107.0 |
| Income before provision for income taxes | 2,555.0 | 2,817.0 | 4,964.0 | 5,084.0 |
| Provision for income taxes | 533.0 | 506.0 | 1,013.0 | 971.0 |
| Net income | $ 2,022.0 | $ 2,310.0 | $ 3,951.0 | $ 4,113.0 |
| Earnings per common share-basic | $ 2.81 | $ 3.17 | $ 5.49 | $ 5.63 |
| Earnings per common share-diluted | 2.80 | 3.15 | 5.46 | 5.60 |
| Dividends declared per common share | $ 1.67 | $ 1.52 | $ 3.34 | $ 3.04 |
| Weighted average shares outstanding-basic | 718.8 | 729.6 | 720.3 | 730.3 |
| Weighted average shares outstanding-diluted | 722.0 | 734.3 | 724.0 | 734.9 |
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- Definition Cost of sales and controllable expenses associated with company-operated restaurants. No definition available.
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- Definition Sum of operating profit and nonoperating income (expense) before income taxes. No definition available.
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- Definition Other Revenues No definition available.
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- Definition Revenues from franchised restaurants No definition available.
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- Definition Sales by Company-owned and operated restaurants No definition available.
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- Definition Aggregate dividends declared during the period for each share of common stock outstanding. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Total costs of sales and operating expenses for the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of interest expense classified as operating and nonoperating. Includes, but is not limited to, cost of borrowing accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of expense classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The net amount of other operating income and expenses, the components of which are not separately disclosed on the income statement, from items that are associated with the entity's normal revenue producing operations. No definition available.
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- Definition Amount of selling, general and administrative expense classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- References No definition available.
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- References No definition available.
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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