v3.26.1
Condensed Consolidated Statement of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating activities    
Net income $ 1,983.0 $ 1,868.0
Charges and credits:    
Depreciation and amortization 566.0 520.0
Deferred income taxes 63.0 (44.0)
Share-based compensation 60.0 45.0
Other (92.0) (73.0)
Changes in working capital items (168.0) 111.0
Cash provided by (used for) operations 2,412.0 2,428.0
Investing activities    
Capital expenditures (682.0) (551.0)
Purchases of restaurant businesses (79.0) (75.0)
Sales of restaurant businesses 72.0 49.0
Sales of property 34.0 5.0
Other (122.0) (200.0)
Cash used for investing activities (777.0) (771.0)
Financing activities    
Net short-term borrowings (791.0) (792.0)
Long-term financing issuances 1,159.0 1,498.0
Long-term financing repayments (1.0) (693.0)
Treasury stock purchases (396.0) (477.0)
Common stock dividends (1,323.0) (1,266.0)
Proceeds from stock option exercises 128.0 147.0
Other (2.0) 40.0
Cash provided by (used for) financing activities (1,225.0) (1,543.0)
Effect of exchange rates on cash and cash equivalents (14.0) 39.0
Cash and equivalents increase (decrease) 396.0 153.0
Cash and equivalents at beginning of period 774.0 1,085.0
Cash and equivalents at end of period $ 1,170.0 $ 1,238.0