v3.26.1
Segment Information
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Information
Segment Information
The Company operates under the following global organizational structure, which reflects how management reviews and evaluates operating performance:
•U.S. segment - the Company's largest market. The segment is 95% franchised as of June 30, 2026.
•International Operated Markets segment - comprised of markets, or countries in which the Company owns and operates and franchises restaurants, including Australia, Canada, France, Germany, Italy, Poland, Spain and the U.K. The segment is 90% franchised as of June 30, 2026.
•International Developmental Licensed Markets & Corporate - comprised primarily of developmental licensee and affiliate markets in the McDonald’s System, including equity method investments in China and Japan, as well as Corporate activities. The International Developmental Licensed Markets are 99% franchised as of June 30, 2026.
The Company's chief operating decision makers ("CODMs") are the President and Chief Executive Officer ("CEO") and the Executive Vice President and Global Chief Financial Officer ("CFO"). Segment performance is evaluated based on one measure of a segment's profit or loss, operating income, which is used to allocate resources in the annual planning process. Throughout the year, the CODMs consider forecast to actual operating income results and variances against plan to evaluate segment performance and priorities related to allocation of capital and resources supporting organizational objectives.
All intercompany revenues and expenses are eliminated in computing revenues and operating income. Corporate general and administrative expenses consist of corporate office support costs in areas such as facilities, finance, human resources, information technology, legal, marketing, restaurant operations, supply chain and training. Corporate assets include cash and equivalents, financial instruments, deferred tax assets and office facilities.
Quarters EndedSix Months Ended
  
June 30,June 30,
In millions2026202520262025
U.S.$2,827 $2,781 $5,409 $5,276 
International Operated Markets3,603 3,462 6,928 6,377 
International Developmental Licensed Markets & Corporate669 600 1,279 1,145 
Total Revenues$7,099 $6,843 $13,616 $12,799 
U.S.$320 $325 $643 $643 
International Operated Markets359 328 712 630 
International Developmental Licensed Markets & Corporate— — — 1 
Total Franchised restaurants-occupancy expenses$680 $654 $1,356 $1,274 
U.S.$693 $694 $1,362 $1,339 
International Operated Markets1,322 1,286 2,577 2,409 
International Developmental Licensed Markets & Corporate123 97 230 189 
Total Company-operated restaurant expenses$2,138 $2,078 $4,170 $3,937 
U.S.$147 $149 $287 $292 
International Operated Markets190 174 378 335 
International Developmental Licensed Markets & Corporate479 377 911 755 
Total Selling, general, & administrative expenses$817 $700 $1,576 $1,383 
U.S.$93 $85 $164 $172 
International Operated Markets8 38 31 80 
International Developmental Licensed Markets & Corporate25 55 28 74 
Total Other segment items*$126 $178 $223 $325 
U.S.$1,573 $1,527 $2,953 $2,829 
International Operated Markets1,723 1,635 3,230 2,924 
International Developmental Licensed Markets & Corporate42 70 109 127 
Total Operating income$3,338 $3,232 $6,292 $5,880 
U.S.$357 $318 $631 $543 
International Operated Markets466 418 868 739 
International Developmental Licensed Markets & Corporate8 9 17 13 
Total Capital expenditures$831 $744 $1,516 $1,295 
U.S.$246 $252 $497 $493 
International Operated Markets217 196 430 378 
International Developmental Licensed Markets & Corporate103 95 205 193 
Total Depreciation & amortization**$565 $544 $1,131 $1,064 

In millionsJune 30, 2026December 31, 2025
U.S.$23,189 $23,008 
International Operated Markets27,739 27,487 
International Developmental Licensed Markets & Corporate8,992 9,020 
Total Assets$59,920 $59,515 
*Other segment items is the difference between revenues less the significant expenses disclosed and operating income. This includes other restaurant expenses and other operating expenses included in the Other operating (income) expense, net line within the Condensed Consolidated Statement of Income.
**Total depreciation & amortization is included within the respective expense lines disclosed above, such as Company-operated restaurant expenses, Franchised restaurants-occupancy expenses, and Selling, general & administrative expenses.