Pages from McD AR_2007 - 44 CONSOLIDATED STATEMENT OF...

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CONSOLIDATED STATEMENT OF INCOME IN MILLIONS, EXCEPT PER SHARE DATA Years ended December 31, 2007 2006 2005 REVENUES Sales by Company-operated restaurants $16,611.0 $15,402.4 $14,017.9 Revenues from franchised and afF liated restaurants 6,175.6 5,492.8 5,099.4 Total revenues 22,786.6 20,895.2 19,117.3 OPERATING COSTS AND EXPENSES Company-operated restaurant expenses ±ood & paper 5,487.4 5,111.8 4,760.2 Payroll & employee beneF ts 4,331.6 3,991.1 3,662.9 Occupancy & other operating expenses 3,922.7 3,802.2 3,495.5 ±ranchised restaurants–occupancy expenses 1,139.7 1,058.1 1,021.4 Selling, general & administrative expenses 2,367.0 2,295.7 2,118.4 Impairment and other charges (credits), net 1,670.3 134.2 (28.4) Other operating (income) expense, net (11.1) 69.1 103.3 Total operating costs and expenses 18,907.6 16,462.2 15,133.3 Operating income 3,879.0 4,433.0 3,984.0 Interest expense–net of capitalized interest of $6.9, $5.4 and $4.9 410.1 401.9 356.2 Nonoperating income, net (103.2) (123.3) (32.4) Income from continuing operations before provision for income taxes 3,572.1 4,154.4 3,660.2 Provision for income taxes 1,237.1 1,288.3 1,082.6 Income from continuing operations 2,335.0 2,866.1 2,577.6 Income from discontinued operations (net of taxes of $34.5, $101.9 and $16.8) 60.1 678.1 24.6 Net income $ 2,395.1 $ 3,544.2 $ 2,602.2 Per common share–basic: Continuing operations $ 1.96 $ 2.32 $ 2.04 Discontinued operations 0.05 0.55 0.02 Net income $ 2.02 $ 2.87 $ 2.06 Per common share–diluted: Continuing operations $ 1.93 $ 2.29 $ 2.02 Discontinued operations 0.05 0.54 0.02 Net income $ 1.98 $ 2.83 $ 2.04 Dividends per common share $ 1.50 $ 1.00 $ 0.67 Weighted-average shares outstanding–basic 1,188.3 1,234.0 1,260.4 Weighted-average shares outstanding–diluted 1,211.8 1,251.7 1,274.2 See Notes to consolidated F nancial statements. 44
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CONSOLIDATED BALANCE SHEET IN MILLIONS, EXCEPT PER SHARE DATA December 31, 2007 2006 ASSETS Current assets Cash and equivalents $ 1,981.3 $ 2,128.1 Accounts and notes receivable 1,053.8 806.9 Inventories, at cost, not in excess of market 125.3 112.4 Prepaid expenses and other current assets 421.5 318.6 Assets of businesses held for sale 1,631.5 Discontinued operations 194.7 Total current assets 3,581.9 5,192.2 Other assets Investments in and advances to afF liates 1,156.4 1,035.4 Goodwill, net 2,301.3 2,073.6 Miscellaneous 1,367.4 1,235.2 Total other assets 4,825.1 4,344.2 Property and equipment Property and equipment, at cost 32,203.7 29,722.9 Accumulated depreciation and amortization (11,219.0) (10,284.8) Net property and equipment 20,984.7 19,438.1 Total assets $ 29,391.7 $ 28,974.5 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities Notes payable $ 1,126.6 $ Accounts payable 624.1 668.7 Income taxes 241.9 Other taxes 248.0 203.2 Accrued interest 148.4 135.0 Accrued payroll and other liabilities 1,486.9 1,324.5 Current maturities of long-term debt 864.5 17.7 Liabilities of businesses held for sale
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This note was uploaded on 03/03/2012 for the course MGMT 351 taught by Professor Staff during the Spring '08 term at Purdue University-West Lafayette.

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Pages from McD AR_2007 - 44 CONSOLIDATED STATEMENT OF...

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