McDonalds 2012 Annual Report Download - page 20

The following tables present comparable sales, comparable guest counts and Systemwide sales increases/(decreases):
Comparable sales and guest count increases/(decreases)
2012 2011 2010
Sales
Guest
Counts Sales Guest Counts Sales Guest Counts
U.S. 3.3% 1.9% 4.8% 3.3% 3.8% 5.3%
Europe 2.4 (0.5) 5.9 3.4 4.4 2.7
APMEA 1.4 2.2 4.7 4.3 6.0 4.9
Other Countries & Corporate 7.7 3.0 10.1 4.5 11.3 8.3
Total 3.1% 1.6% 5.6% 3.7% 5.0% 4.9%
Systemwide sales increases/(decreases)
Excluding currency
translation
2012 2011 2012 2011
U.S. 4% 5% 4% 5%
Europe (2) 14 59
APMEA 516 67
Other Countries & Corporate 417 10 12
Total 3% 11% 5% 7%
Franchised sales are not recorded as revenues by the Company, but are the basis on which the Company calculates and records
franchised revenues and are indicative of the financial health of the franchisee base. The following table presents franchised sales and
the related increases/(decreases):
Franchised sales
Amount Increase/(decrease) Increase excluding currency translation
Dollars in millions 2012 2011 2010 2012 2011 2012 2011
U.S. $31,063 $29,739 $28,166 4% 6% 4% 6%
Europe 16,857 17,243 15,049 (2) 15 59
APMEA 13,723 13,041 11,373 515 66
Other Countries & Corporate 8,044 7,625 6,559 516 12 12
Total $69,687 $67,648 $61,147 3% 11% 6% 7%
RESTAURANT MARGINS
• Franchised margins
Franchised margin dollars represent revenues from franchised
restaurants less the Company’s occupancy costs (rent and
depreciation) associated with those sites. Franchised margin
dollars represented about two-thirds of the combined restaurant
margins in 2012, 2011 and 2010. Franchised margin dollars
increased $205 million or 3% (6% in constant currencies) in
2012 and $768 million or 12% (9% in constant currencies) in
2011. Positive comparable sales were the primary driver of the
constant currency growth in franchised margin dollars in
both years.
Franchised margins
In millions 2012 2011 2010
U.S. $3,594 $3,436 $3,239
Europe 2,352 2,400 2,063
APMEA 924 858 686
Other Countries & Corporate 567 538 476
Total $7,437 $7,232 $6,464
Percent of revenues
U.S. 83.9% 83.9% 83.4%
Europe 79.0 79.1 78.2
APMEA 88.8 89.5 89.3
Other Countries & Corporate 85.6 86.1 86.0
Total 83.0% 83.0% 82.4%
In the U.S., the franchised margin percent was flat in 2012 as
comparable sales performance was offset by higher depreciation
related to reimaging. The increase in 2011 was primarily due to
positive comparable sales, partly offset by higher occupancy
expenses.
18 McDonald’s Corporation 2012 Annual Report