McDonalds 2011 Annual Report Download - page 27

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Consolidated Statement of Income
In millions, except per share data Years ended December 31, 2011 2010 2009
REVENUES
Sales by Company-operated restaurants $18,292.8 $16,233.3 $15,458.5
Revenues from franchised restaurants 8,713.2 7,841.3 7,286.2
Total revenues 27,006.0 24,074.6 22,744.7
OPERATING COSTS AND EXPENSES
Company-operated restaurant expenses
Food & paper 6,167.2 5,300.1 5,178.0
Payroll & employee benefits 4,606.3 4,121.4 3,965.6
Occupancy & other operating expenses 4,064.4 3,638.0 3,507.6
Franchised restaurants-occupancy expenses 1,481.5 1,377.8 1,301.7
Selling, general & administrative expenses 2,393.7 2,333.3 2,234.2
Impairment and other charges (credits), net (3.9) 29.1 (61.1)
Other operating (income) expense, net (232.9) (198.2) (222.3)
Total operating costs and expenses 18,476.3 16,601.5 15,903.7
Operating income 8,529.7 7,473.1 6,841.0
Interest expense-net of capitalized interest of $14.0, $12.0 and $11.7 492.8 450.9 473.2
Nonoperating (income) expense, net 24.7 21.9 (24.3)
Gain on sale of investment (94.9)
Income before provision for income taxes 8,012.2 7,000.3 6,487.0
Provision for income taxes 2,509.1 2,054.0 1,936.0
Net income $ 5,503.1 $ 4,946.3 $ 4,551.0
Earnings per common share–basic $ 5.33 $ 4.64 $ 4.17
Earnings per common share–diluted $ 5.27 $ 4.58 $ 4.11
Dividends declared per common share $ 2.53 $ 2.26 $ 2.05
Weighted-average shares outstanding–basic 1,032.1 1,066.0 1,092.2
Weighted-average shares outstanding–diluted 1,044.9 1,080.3 1,107.4
See Notes to consolidated financial statements.
McDonald’s Corporation Annual Report 2011 25