McDonalds 2007 Annual Report Download - page 46

Download and view the complete annual report

Please find page 46 of the 2007 McDonalds annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 68

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68

CONSOLIDATED STATEMENT OF INCOME
IN MILLIONS, EXCEPT PER SHARE DATA
Years ended December 31, 2007 2006 2005
REVENUES
Sales by Company-operated restaurants $16,611.0 $15,402.4 $14,017.9
Revenues from franchised and affi liated restaurants 6,175.6 5,492.8 5,099.4
Total revenues 22,786.6 20,895.2 19,117.3
OPERATING COSTS AND EXPENSES
Company-operated restaurant expenses
Food & paper 5,487.4 5,111.8 4,760.2
Payroll & employee benefi ts 4,331.6 3,991.1 3,662.9
Occupancy & other operating expenses 3,922.7 3,802.2 3,495.5
Franchised restaurants–occupancy expenses 1,139.7 1,058.1 1,021.4
Selling, general & administrative expenses 2,367.0 2,295.7 2,118.4
Impairment and other charges (credits), net 1,670.3 134.2 (28.4)
Other operating (income) expense, net (11.1) 69.1 103.3
Total operating costs and expenses 18,907.6 16,462.2 15,133.3
Operating income 3,879.0 4,433.0 3,984.0
Interest expense–net of capitalized interest of $6.9, $5.4 and $4.9 410.1 401.9 356.2
Nonoperating income, net (103.2) (123.3) (32.4)
Income from continuing operations before provision for income taxes 3,572.1 4,154.4 3,660.2
Provision for income taxes 1,237.1 1,288.3 1,082.6
Income from continuing operations 2,335.0 2,866.1 2,577.6
Income from discontinued operations (net of taxes of $34.5, $101.9 and $16.8) 60.1 678.1 24.6
Net income $ 2,395.1 $ 3,544.2 $ 2,602.2
Per common share–basic:
Continuing operations $ 1.96 $ 2.32 $ 2.04
Discontinued operations 0.05 0.55 0.02
Net income $ 2.02 $ 2.87 $ 2.06
Per common share–diluted:
Continuing operations $ 1.93 $ 2.29 $ 2.02
Discontinued operations 0.05 0.54 0.02
Net income $ 1.98 $ 2.83 $ 2.04
Dividends per common share $ 1.50 $ 1.00 $ 0.67
Weighted-average shares outstanding–basic 1,188.3 1,234.0 1,260.4
Weighted-average shares outstanding–diluted 1,211.8 1,251.7 1,274.2
See Notes to consolidated fi nancial statements.
44