McDonalds 2014 Annual Report Download - page 35

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McDonald’s Corporation 2014 Annual Report 29
Consolidated Statement of Income
In millions, except per share data Years ended December 31, 2014 2013 2012
REVENUES
Sales by Company-operated restaurants $ 18,169.3 $ 18,874.2 $ 18,602.5
Revenues from franchised restaurants 9,272.0 9,231.5 8,964.5
Total revenues 27,441.3 28,105.7 27,567.0
OPERATING COSTS AND EXPENSES
Company-operated restaurant expenses
Food & paper 6,129.7 6,361.3 6,318.2
Payroll & employee benefits 4,756.0 4,824.1 4,710.3
Occupancy & other operating expenses 4,402.6 4,393.2 4,195.2
Franchised restaurants-occupancy expenses 1,697.3 1,624.4 1,527.0
Selling, general & administrative expenses 2,487.9 2,385.6 2,455.2
Other operating (income) expense, net 18.6 (247.2) (243.5)
Total operating costs and expenses 19,492.1 19,341.4 18,962.4
Operating income 7,949.2 8,764.3 8,604.6
Interest expense-net of capitalized interest of $14.7, $15.5 and $15.9 570.5 521.9 516.6
Nonoperating (income) expense, net 6.7 37.9 9.0
Income before provision for income taxes 7,372.0 8,204.5 8,079.0
Provision for income taxes 2,614.2 2,618.6 2,614.2
Net income $ 4,757.8 $ 5,585.9 $ 5,464.8
Earnings per common share–basic $ 4.85 $ 5.59 $ 5.41
Earnings per common share–diluted $ 4.82 $ 5.55 $ 5.36
Dividends declared per common share $ 3.28 $ 3.12 $ 2.87
Weighted-average shares outstanding–basic 980.5 998.4 1,010.1
Weighted-average shares outstanding–diluted 986.3 1,006.0 1,020.2
See Notes to consolidated financial statements.