McDonalds 2009 Annual Report Download - page 9

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6-Year Summary
Dollars in millions, except per share data 2009 2008 2007 2006 2005 2004
Company-operated sales $15,459 16,561 16,611 15,402 14,018 13,055
Franchised revenues $ 7,286 6,961 6,176 5,493 5,099 4,834
Total revenues $22,745 23,522 22,787 20,895 19,117 17,889
Operating income $ 6,841(1) 6,443 3,879(4) 4,433(7) 3,984 3,554(10)
Income from continuing operations $ 4,551(1,2) 4,313(3) 2,335(4,5) 2,866(7) 2,578(9) 2,287(10)
Net income $ 4,551(1,2) 4,313(3) 2,395(4,5,6) 3,544(7,8) 2,602(9) 2,279(10)
Cash provided by operations $ 5,751 5,917 4,876 4,341 4,337 3,904
Cash used for investing activities $ 1,655 1,625 1,150 1,274 1,818 1,383
Capital expenditures $ 1,952 2,136 1,947 1,742 1,607 1,419
Cash used for (provided by) financing activities $ 4,421 4,115 3,996 5,460 (442) 1,634
Treasury stock repurchased $ 2,854 3,981 3,949 3,719 1,228 605
Common stock cash dividends $ 2,235 1,823 1,766 1,217 842 695
Financial position at year end:
Total assets $30,225 28,462 29,392 28,974 29,989 27,838
Total debt $10,578 10,218 9,301 8,408 10,137 9,220
Total shareholders’ equity $14,034 13,383 15,280 15,458 15,146 14,201
Shares outstanding in millions 1,077 1,115 1,165 1,204 1,263 1,270
Per common share:
Income from continuing operations–diluted $ 4.11(1,2) 3.76(3) 1.93(4,5) 2.29(7) 2.02(9) 1.80(10)
Net income–diluted $ 4.11(1,2) 3.76(3) 1.98(4,5,6) 2.83(7,8) 2.04(9) 1.79(10)
Dividends declared $ 2.05 1.63 1.50 1.00 .67 .55
Market price at year end $ 62.44 62.19 58.91 44.33 33.72 32.06
Company-operated restaurants 6,262 6,502 6,906 8,166 8,173 8,179
Franchised restaurants 26,216 25,465 24,471 22,880 22,593 22,317
Total Systemwide restaurants 32,478 31,967 31,377 31,046 30,766 30,496
Franchised sales(11) $56,928 54,132 46,943 41,380 38,913 37,052
(1) Includes net pretax income of $65.2 million ($87.0 million after tax or $0.08 per share) primarily related to the resolution of certain liabilities retained in connection with the 2007 Latin
America developmental license transaction.
(2) Includes income of $58.8 million ($0.06 per share-basic, $0.05 per share-diluted) due to the sale of the Company’s minority ownership interest in Redbox Automated Retail, LLC.
(3) Includes income of $109.0 million ($0.09 per share) due to the sale of the Company’s minority ownership interest in U.K.- based Pret A Manger.
(4) Includes pretax operating charges of $1.7 billion ($1.32 per share) related to impairment and other charges primarily as a result of the Company’s sale of its businesses in 18 Latin
American and Caribbean markets to a developmental licensee (see Latam transaction note to the consolidated financial statements for further details).
(5) Includes a tax benefit of $316.4 million ($0.26 per share) resulting from the completion of an Internal Revenue Service (IRS) examination of the Company’s 2003-2004 U.S. federal
tax returns.
(6) Includes income of $60.1 million ($0.05 per share) related to discontinued operations primarily from the sale of the Company’s investment in Boston Market.
(7) Includes pretax operating charges of $134 million ($98 million after tax or $0.08 per share) related to impairment and other charges.
(8) Includes income of $678 million ($0.54 per share) related to discontinued operations primarily resulting from the disposal of our investment in Chipotle.
(9) Includes a net tax benefit of $73 million ($0.05 per share) comprised of $179 million ($0.14 per share) of income tax benefit resulting from the completion of an IRS examination of the
Company’s 2000-2002 U.S. tax returns, partly offset by $106 million ($0.09 per share) of incremental tax expense resulting from the decision to repatriate certain foreign earnings
under the Homeland Investment Act (HIA).
(10) Includes pretax operating charges of $130 million related to impairment and $121 million ($12 million related to 2004 and $109 million related to prior years) for a correction in the
Company’s lease accounting practices and policies, as well as a nonoperating gain of $49 million related to the sale of the Company’s interest in a U.S. real estate partnership, for a
total pretax expense of $202 million ($148 million after tax or $0.12 per share).
(11) While franchised sales are not recorded as revenues by the Company, management believes they are important in understanding the Company’s financial performance because these
sales are the basis on which the Company calculates and records franchised revenues and are indicative of the financial health of the franchisee base.
McDonald’s Corporation Annual Report 2009 7