Impact of Currency Translation

Quarter ended March 31

2009
2008
Revenues
$5,077.4 $5,614.8
Company-operated margins
564.2
659.2
Franchised margins
1,296.00 1,316.20
Selling, general, and administrative expenses
497.3
552.4
Operating income
1,400.40 1,462.80
Net income
979.5
946.1
Earnings per sharediluted
0.87
0.81

n
Currency Translation P/L
-642.4
-72.5
-109
43
-137.9
-86.2
-0.08

MCD's number of restaurant worldwide

2009
13898

As of March 31
U.S.
Europe
Germany
United Kingdom
France
Spain
Italy
Other
Total Europe
APMEA (Asia/Pacific/Middle East/Asia)
Japan
China
Australia
Taiwan
Other
Total APMEA
Other Countries and Corporate
Canada
Brazil
Mexico
Other
Total Other Countries and Corporate
Systemwide restaurants
Total Countries

2008 Increase
13871
27

1337
1192
1135
393
381
2212
6650

1301
1192
1108
379
363
2142
6485

27
14
18
70
165

3746
1074
782
347
2378
8327

3737
911
762
346
2216
7972

9
163
20
1
162
355

1419
563
382
821
3185
32060
118

1408
553
365
785
3111
31439
118

36

11
10
17
36
74
621

In millions, except per share data Years ended December 31

REVENUES
Sales by Company-operated restaurants
Revenues from franchised restaurants
Total revenues
OPERATING COSTS AND EXPENSES
Company-operated restaurant expenses
Food & paper
Payroll & employee benefits
Occupancy & other operating expenses
Franchised restaurantsoccupancy expenses
Selling, general & administrative expenses
Impairment and other charges, net
Other operating (income) expense, net
Total operating costs and expenses
Operating income
Interest expensenet of capitalized interest of $12.3, $6.9 and $5.4
Nonoperating (income) expense, net
Gain on sale of investment
Income from continuing operations before provision for
income taxes
Provision for income taxes
Income from continuing operations
Income from discontinued operations (net of taxes of $34.5 and
$101.9)
Net income
Per common sharebasic:
Continuing operations
Discontinued operations
Net income
Per common sharediluted:
Continuing operations
Discontinued operations
Net income
Dividends declared per common share
Weighted-average shares outstandingbasic
Weighted-average shares outstandingdiluted

2008
$16,560.9
###
23,522.40
###
###
###
###
###
6
-165
17,079.50
###
523
-77.6
-160
###
###
###

$4,313.2
$ 3.83

$ 3.83
$
3.76
$
$

3.76
1.625
###
###

2007
$16,611.0

2006
$15,402.4

6,175.60

5,492.80

22,786.60 20,895.20
5,487.40
5,111.80
4,331.60
3,991.10
3,922.70
3,802.20
1,139.70
1,058.10
2,367.00
2,295.70
1,670.30
134.2
-11.1
69.1
18,907.60 16,462.20
3,879.00
4,433.00
410.1
401.9
-103
-123.3
3,572.10
1,237.10
2,335.00

4,154.40
1,288.30
2,866.10

60.1
$2,395.1
$
1.96

678.1
$3,544.2
$

0.05
$
2.02
$ 1.93
0.05
$
1.98
$
1.50
1,188.30
1,211.80

2.32
0.55

$
$
$
$

2.87
2.29
0.54
2.83
1
1,234.00
1,251.70

P
E
R
I
O
D
31-Dec-08

###

31-Dec-06
E
N
D
I
N
G

Assets
Current
Assets

Cash
$1,981,300
$2,136,400
and $2,063,400
Cash
Equi
vale
nts
Shor
t
Term

Inve
stme
Net
nts
Rece
###
###
###
ivabl
es
Inve
###
###
###
ntory
Othe
r
Curr
###
###
###
ent
Asse
ts u
r
r
###
###
3,625,300
e
n
t
Long
Term
Inve
###
###
1,036,200
stme
nts
Prop
erty
Plant
and 20,254,500
20,984,700
20,845,700
Equi
pme
nt
Goo
###
###
2,209,200
dwill
Intan
gible

Asse
ts

Accu
mula
ted
Amo
rtizat
Othe
ion
r
Asse
Defe
ts
rred
Long
Term
Asse
t
Char
ges l

Liabilities
Current
Liabilities

###

###

1,307,400

A
s
28,461,500

Acco
unts
Paya
ble
Shor
t/Cur
rent
Long
Term
Debt
Othe
r
Curr
ent
Liabi
litiesr
e
n
t

29,391,700

###

###

###

29,023,800

2,739,000

###

###

###

###

###

3,008,100

###

8,416,500

###

1,074,900

L
i
Long
Term 10,186,000
Debt
Othe
r
###
Liabi
lities
Defe
rred
Long
Term
###
Liabi
lity
Char
ges

###

1,066,000

Min
ority
Inter
est

Nega
tive
Goo
dwill

L
i
a
b
i
Stockholders
15,078,900
Equity
Misc
.
Stoc
ks

Opti
ons
Warr
Rede
ants
ema
ble
Prefe

rred
Stoc
kPrefe
rred

Stoc
kCom

14,111,900

13,565,500

mon
###
###
###
Stoc
k
Retai
ned
28,953,900
26,461,500
25,845,600
Earn
ings
Trea
sury
-20,289,400 -16,762,400 -13,552,200
Stoc
kCapi
tal
###
###
Surp
lus
r
Stoc
khol
###
###
ders
Equic
k
h
o
13,382,600
15,279,800
l
d
e
r

3,445,000

-296,700

15,458,300

b
i
l
$28,461,500
i
t
i

$29,391,700

$29,023,800

BKC

(Fast)
Food
Service

Specialty
Eateries

Industry SBUX

Industry

MCD

YUM

Market Cap

61.17 B

15.57 B

2.45 B

161.69 M

Employees

400,000

50,400

41,000

5,700

176,000

Revenue

22.99 B

11.08 B

2.55 B

403.14 M

10.04 B

1.31 B

Gross Margin 37.09%

24.53%

33.13%

54.24%

32.20%

Net Income

4.35 B

928 M

192 M

N/A 88 M

N/A

EPS

3.827

1.914

1.402

0.09 0.119

0.12

P/E

14.35

17.65

13.01

21.51%

17.91

10.1 B

114.79

1.64 B
2,140

22.33