McDonalds 2007 Annual Report Download - page 62

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QUARTERLY RESULTS (UNAUDITED)
(1)
Quarters ended Quarters ended Quarters ended Quarters ended
IN MILLIONS, December 31 September 30 June 30 March 31
EXCEPT PER SHARE DATA 2007 2006 2007 2006 2007 2006 2007 2006
Revenues
Sales by Company-
operated restaurants $4,103.2 $4,009.0 $4,276.2 $4,057.7 $4,317.8 $3,835.3 $3,913.8 $3,500.4
Revenues from franchised
and affi liated restaurants 1,650.4 1,436.3 1,624.7 1,445.5 1,521.6 1,369.1 1,378.9 1,241.9
Total revenues 5,753.6 5,445.3 5,900.9 5,503.2 5,839.4 5,204.4 5,292.7 4,742.3
Company-operated margin 705.3 663.0 783.9 701.5 759.6 618.1 620.5 514.7
Franchised margin 1,355.3 1,161.2 1,337.3 1,173.7 1,240.1 1,109.5 1,103.2 990.3
Operating income (loss) 1,354.6 1,107.9 1,524.8 1,288.3 (181.7)
(5)
1,123.0 1,181.3 913.8
(7)
Income (loss) from
continuing operations 1,273.2
(2)
751.7 1,003.7 841.7 (708.4)
(5)
697.9 766.5 574.8
(7)
Net income (loss) $1,273.2
(2)
$ 1,241.5
(3)
$1,071.2
(4)
$ 843.3 $ (711.7)
(5)
$ 834.1
(6)
$ 762.4 $ 625.3
(7,8)
Per common share—basic:
Income (loss) from
continuing operations $ 1.08
(2)
$ 0.62 $ 0.85 $ 0.68 $ (0.59)
(5)
$ 0.57 $ 0.64 $ 0.46
(7)
Net income (loss) $ 1.08
(2)
$ 1.02
(3)
$ 0.90
(4)
$ 0.69 $ (0.60)
(5)
$ 0.68
(6)
$ 0.63 $ 0.50
(7,8)
Per common share—diluted:
Income (loss) from
continuing operations $ 1.06
(2)
$ 0.61 $ 0.83 $ 0.68 $ (0.59)
(5)
$ 0.56 $ 0.63 $ 0.45
(7)
Net income (loss) $ 1.06
(2)
$ 1.00
(3)
$ 0.89
(4)
$ 0.68 $ (0.60)
(5)
$ 0.67
(6)
$ 0.62 $ 0.49
(7,8)
Dividends declared per
common share $ — $ — $ 1.50 $ 1.00 $ — $ — $ — $ —
Weighted-average common
shares—basic 1,173.7 1,216.8 1,185.0 1,230.4 1,193.7 1,235.1 1,201.2 1,254.1
Weighted-average common
shares—diluted 1,196.8 1,238.3 1,207.1 1,245.7 1,193.7 1,248.0 1,222.3 1,271.2
Market price per
common share:
High $ 63.69 $ 44.68 $ 55.73 $ 40.06 $ 52.88 $ 35.99 $ 46.21 $ 36.75
Low 54.67 38.95 46.64 32.75 44.26 31.73 42.31 33.20
Close 58.91 44.33 54.47 39.12 50.76 33.60 45.05 34.36
(1) For all periods of 2006 and the fi rst two quarters of 2007, amounts previously reported in the Company’s SEC fi lings included Boston Market activity. As a result of the
Company’s sale of its investment in Boston Market in August 2007, the above amounts have been adjusted by the following Boston Market activity, which is presented as
discontinued operations:
Quarter ended Quarter ended Quarters ended Quarters ended
December 31 September 30 June 30 March 31
IN MILLIONS 2006 2006 2007 2006 2007 2006
Revenues
Sales by Company-operated
restaurants $185.3 $165.6 $168.5 $160.3 $169.0 $169.1
Revenues from franchised and
affi liated restaurants 3.3 2.4 2.6 2.7 2.4 2.5
Total revenues 188.6 168.0 171.1 163.0 171.4 171.6
Company-operated margin 18.7 5.5 6.9 9.1 6.1 10.4
Franchised margin 3.0 1.5 1.6 2.0 1.9 2.1
Operating income (loss) $ 16.7 $ (2.8) $ (5.7) $ 0.6 $ (6.7) $ (2.4)
(2) Includes an income tax benefi t of $316.4 million ($0.26 per share) resulting from the completion of an IRS examination of the Company’s 2003-2004 U.S. federal
tax returns.
(3) Includes a tax-free gain of $479.6 million ($0.39 per share–basic, $0.38 per share–diluted) resulting from the Company’s complete disposition of Chipotle.
(4) Includes income from discontinued operations of $67.5 million after tax ($0.05 per share–basic, $0.06 per share–diluted) primarily due to the gain on the sale of
Boston Market.
(5) Includes net pretax and after tax expense of $1.6 billion ($1.32 per share from continuing operations–basic, $1.33 per share net income–basic, $1.31 per share–diluted)
related to the sale of Latam to a developmental licensee.
(6) Includes a gain of $127.8 million after tax ($0.11 per share–basic, $0.10 per share–diluted) due to the secondary sale of Chipotle shares.
(7) Includes net pretax charges of $86.1 million ($59.1 million after tax or $0.045 per share) primarily related to a limited number of restaurant closings in the U.K. in
conjunction with an overall restaurant portfolio review and costs to buy out certain litigating franchisees in Brazil.
(8) Includes a gain of $45.6 million after tax or $0.035 per share due to the IPO of Chipotle and the concurrent sale of Chipotle shares.
60