MCDONALDS CORP (MCD) [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
International Operated Markets	11,297.0	12,219.8	9,570.7	11,480.1	11,578.1	11,115.9
United States	9,588.4	8,865.0	7,828.5	8,002.8	7,798.7	8,006.4	8,252.7	8,558.9
International Developmental Licensed Markets and Corporate					1,881.1	3,698.1
Other	2,297.2	2,138.1	1,808.6	1,881.5			16,369.2	16,854.1
Total revenues [+]	23,182.6	23,222.9	19,207.8	21,364.4	21,257.9	22,820.4	24,621.9	25,413.0
Food & beverage	8,748.4	9,787.4	8,139.2	9,420.8	10,012.7	12,718.9	15,295.0	16,488.3
Franchise							9,326.9	8,924.7
Revenue growth [+]	-0.2%	20.9%	-10.1%	0.5%	-6.8%	-7.3%	-3.1%	-7.4%
International Operated Markets	-7.6%	27.7%	-16.6%	-0.8%	4.2%
United States	8.2%	13.2%	-2.2%	2.6%	-2.6%	-3.0%	-3.6%	-1.1%
International Developmental Licensed Markets and Corporate					-49.1%
Foundational Markets & Corporate							-2.7%	-9.8%
Unit growth	0.6%	2.1%	1.3%	2.2%	1.6%	0.9%	1.0%	0.7%
Cost of goods sold [+]	9,730.6	10,382.3	9,188.7	7,760.6	8,265.9	10,409.6	14,417.2	15,623.8
Food and beverage costs	2,737.3	3,096.8	2,564.2	2,980.3	3,153.8	4,033.5	4,896.9	5,552.2
Labor costs	2,617.4	2,677.2	2,416.4	2,704.4	2,937.9	3,528.5	4,134.2	4,400.0
Franchise costs	2,349.7	2,335.0	2,207.5				1,718.4	1,646.9
Gross profit	13,452.0	12,840.6	10,019.1	13,603.8	12,992.0	12,410.8	10,204.7	9,789.2
Gross margin	58.0%	55.3%	52.2%	63.7%	61.1%	54.4%	41.4%	38.5%
Selling, general and administrative	2,492.2	2,377.8	2,245.0	1,966.9	1,985.4	2,231.3	2,384.5	2,434.3
Other operating expenses	1,218.4	-222.9	149.5	2,304.6	1,969.2
EBITDA [+]	11,241.6	12,224.1	9,075.4	10,687.7	10,304.6	10,916.1	9,261.0	8,701.2
EBITDA growth	-8.0%	34.7%	-15.1%	3.7%	-5.6%	17.9%	6.4%	-9.3%
EBITDA margin	48.5%	52.6%	47.2%	50.0%	48.5%	47.8%	37.6%	34.2%
Depreciation and amortization	1,870.6	1,868.1	1,751.4	1,617.9	1,482.0	1,363.4	1,516.5	1,555.7
EBIT [+]	9,371.0	10,356.0	7,324.0	9,069.8	8,822.6	9,552.7	7,744.5	7,145.5
EBIT growth	-9.5%	41.4%	-19.2%	2.8%	-7.6%	23.3%	8.4%	-10.1%
EBIT margin	40.4%	44.6%	38.1%	42.5%	41.5%	41.9%	31.5%	28.1%
Interest expense	1,207.0	1,185.8	1,218.1	1,121.9	981.2	921.3	884.8	638.3
Interest expense	1,207.0	1,185.8	1,218.1	1,121.9	981.2	921.3	884.8	638.3
Other income (expense), net	-338.6	-42.3	34.8	70.2	-25.3	-57.9	6.3	48.5
Pre-tax income	7,825.4	9,127.9	6,140.7	8,018.1	7,816.1	8,573.5	6,866.0	6,555.7
Income taxes	1,648.0	1,582.7	1,410.2	1,992.7	1,891.8	3,381.2	2,179.5	2,026.4
Tax rate	21.1%	17.3%	23.0%	24.9%	24.2%	39.4%	31.7%	30.9%
Net income	6,177.4	7,545.2	4,730.5	6,025.4	5,924.3	5,192.3	4,686.5	4,529.3
Net margin	26.6%	32.5%	24.6%	28.2%	27.9%	22.8%	19.0%	17.8%

Basic EPS [+]	$8.39	$10.11	$6.35	$7.95	$7.61	$6.43	$5.49	$4.82
Growth	-17.0%	59.1%	-20.1%	4.4%	18.4%	17.2%	13.8%	-0.6%
Diluted EPS [+]	$8.33	$10.04	$6.31	$7.88	$7.54	$6.37	$5.44	$4.79
Growth	-17.0%	59.1%	-19.9%	4.5%	18.4%	17.0%	13.5%	-0.6%

Dividends per share [+]	$5.66	$5.25	$5.04	$4.73	$4.19	$3.83	$3.61	$3.44
Growth	7.8%	4.2%	6.6%	12.9%	9.4%	6.1%	4.9%	4.9%

Shares outstanding (basic) [+]	736.5	746.3	744.6	758.1	778.2	807.4	854.4	939.4
Growth	-1.3%	0.2%	-1.8%	-2.6%	-3.6%	-5.5%	-9.0%	-4.2%
Shares outstanding (diluted) [+]	741.3	751.8	750.1	764.9	785.6	815.5	861.2	944.6
Growth	-1.4%	0.2%	-1.9%	-2.6%	-3.7%	-5.3%	-8.8%	-4.2%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.