Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

McDonald’s Corp., consolidated income statement

US$ in millions

12 months ended:	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenues from franchised restaurants	15,715)	15,437)	14,106)	13,085)	10,726)
Sales by Company-operated restaurants	9,782)	9,742)	8,748)	9,787)	8,139)
Other revenues	423)	316)	328)	350)	343)
Revenues	25,920)	25,494)	23,183)	23,223)	19,208)
Franchised restaurants, occupancy expenses	(2,536)	(2,475)	(2,350)	(2,335)	(2,208)
Food & paper	(2,995)	(3,039)	(2,737)	(3,097)	(2,564)
Payroll & employee benefits	(2,959)	(2,886)	(2,617)	(2,677)	(2,416)
Occupancy & other operating expenses	(2,381)	(2,299)	(2,026)	(2,273)	(2,001)
Company-operated restaurant expenses	(8,335)	(8,224)	(7,381)	(8,047)	(6,981)
Other restaurant expenses	(339)	(233)	(245)	(260)	(267)
Gross margin	14,710)	14,563)	13,207)	12,580)	9,752)
Depreciation and amortization	(447)	(382)	(370)	(330)	(301)
Other	(2,412)	(2,435)	(2,492)	(2,378)	(2,245)
Selling, general & administrative expenses	(2,859)	(2,817)	(2,863)	(2,708)	(2,546)
Gains on sales of restaurant businesses	94)	103)	60)	97)	23)
Equity in earnings of unconsolidated affiliates	157)	153)	113)	177)	117)
Asset dispositions and other income (expense), net	(100)	7)	(137)	(75)	(291)
Impairment and other gains (charges), net	(290)	(362)	(1,010)	285)	268)
Other operating income (expense), net	(139)	(99)	(974)	483)	118)
Operating income	11,712)	11,647)	9,371)	10,356)	7,324)
Interest expense, net of capitalized interest	(1,506)	(1,361)	(1,207)	(1,186)	(1,218)
Nonoperating income (expense), net	139)	236)	(339)	(42)	35)
Income before provision for income taxes	10,345)	10,522)	7,825)	9,128)	6,141)
Provision for income taxes	(2,122)	(2,053)	(1,648)	(1,583)	(1,410)
Net income	8,223)	8,469)	6,177)	7,545)	4,731)

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

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Income statement item	Description	The company
Revenues	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	McDonald’s Corp. revenues increased from 2022 to 2023 and from 2023 to 2024.
Operating income	The net result for the period of deducting operating expenses from operating revenues.	McDonald’s Corp. operating income increased from 2022 to 2023 and from 2023 to 2024.
Income before provision for income taxes	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	McDonald’s Corp. income before provision for income taxes increased from 2022 to 2023 but then slightly decreased from 2023 to 2024.
Net income	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	McDonald’s Corp. net income increased from 2022 to 2023 but then slightly decreased from 2023 to 2024.

McDonald’s Corp. (NYSE:MCD)

Income Statement