Reg.

Number BS(commers) 10 11 12

McDonald`S:
The business began in 1940, with a restaurant
opened by brothers Richard and Maurice McDonald
in San Bernardino, California. ... The present
McDonald'scorporation dates its founding to the
opening of a franchised restaurant by Ray Kroc, in
Des Plaines, Illinois, on April 15, 1955.

Detail 2016 2015 2014 2013 2012

cash 8.78B 7.69B 2.08B 2.8B 2.34B
Marketable Securities - - - - -
Receivables 1.47B 1.3B 1.21B 1.32B 1.38B
Inventory 58.9M 100.1M 110M 123.7M 121.7M
Raw Materials - - - - -
Work In Progress - - - - -
Finished Goods - - - - -
Notes Receivable - - - - -
Other Current Assets 2.09B 558.7M 783.2M 807.9M 1.09B
McDonalds Total Current Assets 4.85B 9.64B 4.19B 5.05B 4.92B
Property Plant & Equipment 34.44B 37.69B 39.13B 40.36B 38.49B
Accumulated Depreciation 13.19B 14.57B 14.57B 14.61B 13.81B
McDonalds Net Property Plant & Equipment 21.26B 23.12B 24.56B 25.75B 24.68B
Investment & Advances 725.9M 792.7M 1B 1.21B 1.38B
Other Non-Current Assets - - - - -
Deferred Charges - - - - -
Intangibles 2.34B 2.52B 2.74B 2.87B 2.8B
Deposits & Other Assets 1.86B 1.87B 1.8B 1.75B 1.6B
McDonalds Total Assets 31.02B 37.94B 34.28B 36.63B 35.39B
Notes Payable - - - - -
Accounts Payable 756M 874.7M 860.1M 1.09B 1.14B
Current Portion Long-Term Debt 77.2M - - - -
Current Portion Capital Leases - - - - -
Accrued Expenses 1.67B 1.92B 1.72B 1.87B 1.96B
Income Taxes Payable 267.2M 154.8M 166.8M 215.5M 298.7M
Other Current Liabilities 694.8M - - - -
McDonalds Total Current Liabilities 3.47B 2.95B 2.75B 3.17B 3.4B
Mortgages - - - - -
Deferred Taxes/Income 1.82B 1.7B 1.62B 1.65B 1.53B
Convertible Debt - - - - -
Long-Term Debt 25.88B 24.12B 14.99B 14.13B 13.63B
Non-Current Capital Leases - - - - -
Other Long-Term Liabilities 2.06B 2.07B 2.07B 1.67B 1.53B
McDonalds Total Liabilities 33.23B 30.85B 21.43B 20.62B 20.09B
Minority Interest - - - - -
Preferred Stock - - - - -
Common Stock Net 16.6M 16.6M 16.6M 16.6M 16.6M
Capital Surplus 6.76B 6.53B 6.24B 5.99B 5.78B
Retained Earnings 46.22B 44.59B 43.29B 41.75B 39.28B
Treasury Stock 52.11B 41.18B 35.18B 32.18B 30.58B
Other Liabilities -3.09B -2.88B -1.52B 427.6M 796.4M
McDonalds Shareholders Equity -2.2B 7.09B 12.85B 16.01B 15.29B

McDonalds Total Liabilities & Shareholders Equity 31.02B 37.94B 34.28B 36.63B 35.39B

Income statement
Detail 2016 2015 2014 2013 2012
McDonalds Revenues or Net Sales 24.62B 25.41B 27.44B 28.11B 27.57B
Cost Of Goods Sold (COGS) 14.42B 15.62B 16.99B 17.2B 16.75B
McDonalds Gross Profit 10.2B 9.79B 10.46B 10.9B 10.82B
Research & Development Expense - - - - -
Selling General & Admin Expense 2.46B 2.64B 2.51B 2.14B 2.21B

Income Before Depreciation Depletion Amortization 7.74B 7.15B 7.95B 8.76B 8.6B

Depreciation Depletion Amortization - - - - -

Non Operating Income 6.3M 48.5M -6.7M -37.9M -9M
Interest Expense 884.8M 638.3M 570.5M 521.9M 516.6M
McDonalds Pretax Income 6.87B 6.56B 7.37B 8.2B 8.08B
Provision for Income Taxes 2.18B 2.03B 2.61B 2.62B 2.61B
Minority Interest - - - - -
Investment Gains Losses - - - - -
Other Income - - - - -
Income Before Extraordinaries & Disc Operations 4.69B 4.53B 4.76B 5.59B 5.46B
Extraordinary Items & Discontinued Operations - - - - -
McDonalds Profit/ Loss (Net Income) 4.69B 4.53B 4.76B 5.59B 5.46B
Average Shares used to compute Diluted EPS 861.2M 944.6M 986.3M 1.01B 1.02B
Average Shares used to compute Basic EPS 861.2M 944.6M 986.3M 1.01B 1.02B
Income Before Nonrecurring Items 4.91B 4.7B 5.29B 5.59B 5.46B
Income from Nonrecurring Items -222.3M -170.03M -532.6M - -
McDonalds Earnings Per Share Basic Net 5.44 4.8 4.82 5.55 5.36
McDonalds Earnings Per Share Diluted Net 5.44 4.8 4.82 5.55 5.36
EPS Diluted Before Nonrecurring Items 5.7 4.98 5.36 5.55 5.36
Preferred Dividends Acc Pd - - - - -
Dividends Common - - - - -
Dividend Per Share Common 3.61 3.44 3.28 3.12 2.87

Cash felow
2012 2013 2014 2015 2016
Cash Dividends Paid - Total (2.9B) (3.11B) (3.22B) (3.23B) (3.06B)
Common Dividends (2.9B) (3.11B) (3.22B) (3.23B) (3.06B)
Preferred Dividends - - - - -
Change in Capital Stock (2.29B) (1.54B) (2.96B) (5.78B) (10.87B)
Repurchase of Common & Preferred Stk. (2.62B) (1.78B) (3.2B) (6.1B) (11.17B)
Sale of Common & Preferred Stock 328.6M 233.3M 235.4M 317.2M 299.4M
Proceeds from Stock Options - - - - -
Other Proceeds from Sale of Stock 328.6M 233.3M 235.4M 317.2M 299.4M
Issuance/Reduction of Debt, Net 1.2B 535.3M 1.5B 9.76B 2.67B
Change in Current Debt (117.5M) (186.5M) 510.4M 589.7M (286.2M)
Change in Long-Term Debt 1.32B 721.8M 992.5M 9.17B 2.96B
Issuance of Long-Term Debt 2.28B 1.42B 1.54B 10.22B 3.78B
Reduction in Long-Term Debt (962.8M) (695.4M) (548.1M) (1.05B) (822.9M)
Other Funds 128.7M 80.8M 58.1M (7.6M) (3M)
Other Uses (13.6M) (11.8M) (12.8M) (58.7M) (3M)
Other Sources 142.3M 92.6M 70.9M 51.1M -
 Net Financing Cash Flow (3.85B) (4.04B) (4.62B) 735.3M (11.26B)
Exchange Rate Effect -400,000 58.7M (527.9M) (246.8M) (103.7M)
Miscellaneous Funds 0 0 0 0 0
Net Change in Cash (51.4M) 462.6M (720.8M) 5.61B (6.46B)
 Free Cash Flow 3.92B 4.3B 4.15B 4.73B 4.24B
KFC:
KFC was founded by Colonel
Harland Sanders, an
entrepreneur who began selling
fried chicken from his roadside
restaurant in Corbin, Kentucky
during the Great Depression.
Sanders identified the potential
of the restaurant franchising
concept, and the first "Kentucky
Fried Chicken" franchise opened
in Utah in 1952

Balance sheet 2012 2013 2014

 Cash & Short Term 2.5B 2.85B 2.84B

Investments
Cash Only 2.5B 2.85B 2.84B
Short-Term Investments - - -
 Total Accounts Receivable 5.51B 6.02B 8.04B
Accounts Receivables, Net 5.51B 6.02B 8.04B
Accounts Receivables, Gross 5.51B 6.02B 8.04B
Bad Debt/Doubtful Accounts (1.24M) (1.32M) (1.9M)
Other Receivables - - -
Inventories 1.16B 1.07B 1.39B
Finished Goods 924.94M 777.84M 1.18B
Work in Progress 230.85M 289.37M 212.01M
Raw Materials - - -
Progress Payments & Other - - -
Other Current Assets 534.01M 548.84M 740.34M

Miscellaneous Current Assets 534.01M 548.84M 740.34M

Total Current Assets 9.69B 10.49B 13.01B

Income statement 2013 2014 2015
6.06B 5.99B 5.76B
Net Property, Plant &
8.53B 8.56B 8.29B
Equipment
Property, Plant & Equipment -
2.91B 2.92B 2.75B
Gross
Buildings 4.23B 4.23B 4.16B
Land & Improvements - - -
 Computer Software and
- - 132.33M
Equipment
Other Property, Plant &
2.47B 2.57B 2.54B
Equipment
Accumulated Depreciation 966.57M 1.03B 1.57B

Total Investments and Advances 921.57M 982.97M 1.53B

Other Long-Term Investments - - -

Long-Term Note Receivable 99.28M 78.42M 59.43M

Intangible Assets - - -
Net Goodwill 99.28M 78.42M 59.43M
Net Other Intangibles 190.15M 182.91M 411.68M
Other Assets 146.29M 147.04M 267.75M
Total assets 17.01B 17.77B 20.81B
Cash fellow statement 2013 2014 2015
ST Debt & Current Portion LT
1.87B 1.88B 1.82B
Debt
Short Term Debt 200M 200M 400M
Current Portion of Long Term
1.67B 1.68B 1.42B
Debt
 Accounts Payable 4.96B 5.15B 6.85B
Income Tax Payable 10.47M 86.44M 638.93M
Other Current Liabilities 516.93M 583.3M 887.57M
Dividends Payable - - -
Accrued Payroll 60.35M 114.08M 122.21M
Miscellaneous Current
456.59M 469.22M 765.36M
Liabilities
 Total Current Liabilities 7.36B 7.7B 10.19B
Long-Term Debt 2.9B 2.99B 1.77B
Long-Term Debt excl.
2.76B 2.86B 1.68B
Capitalized Leases
Non-Convertible Debt 2.76B 2.86B 1.68B
Convertible Debt - - -
Capitalized Lease Obligations 146.61M 124.75M 88.64M

Provision for Risks & Charges 119.71M 129.58M -

Deferred Taxes 9.67M 38.3M 280.53M

Deferred Taxes – Credit 9.67M 38.3M 280.53M
Deferred Taxes – Debit - - -
Other Liabilities 43.64M 15.87M 15.09M
Other Liabilities (excl. Deferred
43.64M 15.87M 15.09M
Income)
Deferred Income - - -
 Total Liabilities 10.43B 10.87B 12.26B
 Non-Equity Reserves - - -
Preferred Stock (Carrying
- - -
Value)
Redeemable Preferred Stock - - -
Non-Redeemable Preferred
- - -
Stock
 Common Equity (Total) 6.58B 6.89B 8.56B

Common Stock Par/Carry Value 565.3M 565.3M 565.3M

Retained Earnings 5.53B 5.82B 7.05B

ESOP Debt Guarantee - - -
Cumulative Translation
Adjustment/Unrealized For. - - -
Exch. Gain
Unrealized Gain/Loss
106.91M 146.66M 501.98M
Marketable Securities
Revaluation Reserves - - -
Treasury Stock (4.23M) (4.78M) (4.95M)
 Total Shareholders' Equity 6.58B 6.89B 8.56B

Accumulated Minority Interest - - -

Total Equity 6.58B 6.89B 8.56B

Liabilities & Shareholders'
17.01B 17.77B 20.81B
Equity
5-year trend
 Net Income before Extraordinaries (175.31M) 487.91M 1.85B
Depreciation, Depletion &
227.81M 212.75M 203.36M
Amortization
Depreciation and
227.81M 212.75M 203.36M
Depletion
Amortization of
- - -
Intangible Assets
Deferred Taxes & Investment Tax
- - -
Credit
Deferred Taxes - - -
Investment Tax Credit - - -
Other Funds (563.95M) (72.93M) 264.1M
Funds from Operations (511.45M) 627.73M 2.31B
Extraordinaries - - -
Changes in Working Capital 1.9B (191.41M) (767.47M)
Receivables 3.49B (546.09M) (2.17B)
Accounts Payable (1.46B) 180.72M 1.71B
Other Assets/Liabilities 40.69M 85.39M 20.57M
 Net Operating Cash Flow 1.38B 436.32M 1.55B
 Capital Expenditures (225.02M) (75.98M) (92.52M)
Capital Expenditures
(222.66M) (71.63M) (86M)
(Fixed Assets)
 Capital Expenditures
(2.36M) (4.35M) (6.52M)
(Other Assets)
Net Assets from Acquisitions - - -
Sale of Fixed Assets & Businesses 1.16M 1.17M 85.56M
Purchase/Sale of Investments 155M 100M (409.54M)
Purchase of Investments (45M) - (409.54M)
Sale/Maturity of
200M 100M -
Investments
Other Uses -500,000 (10M) -
Other Sources 10.43M 6.79M 7.39M
 Net Investing Cash Flow (58.93M) 21.98M (409.11M)
Cash Dividends Paid - Total (110.63M) (37.04M) (81.11M)
Common Dividends (110.63M) (37.04M) (81.11M)
Preferred Dividends - - -
Change in Capital Stock -305,000 -543,000 -179,000
Repurchase of Common
-305,000 -543,000 -179,000
& Preferred Stk.
Sale of Common &
- - -
Preferred Stock
Proceeds from
- - -
Stock Options
Other Proceeds
from Sale of - - -
Stock
Issuance/Reduction of Debt, Net (13.87M) 37.15M (1.34B)
Change in Current Debt (400M) - 200M
Change in Long-Term
386.13M 37.15M (1.54B)
Debt
Issuance of Long-
2.08B 1.85B 1.43B
Term Debt
Reduction in
(1.69B) (1.81B) (2.97B)
Long-Term Debt
Other Funds - - -
Other Uses - - -
Other Sources - - -
 Net Financing Cash Flow (124.81M) -434,000 (1.42B)
Exchange Rate Effect - - 8.33M
Miscellaneous Funds 0 0 0
Net Change in Cash 1.2B 457.86M (276.19M)
 Free Cash Flow 1.16B 364.69M 1.46B
2015 2016
1.69B 3.78B

1.69B 3.68B
- 101.26M
8.48B 7.4B
8.48B 7.4B
8.49B 7.4B
(4.01M) (3.11M)
- -
2.51B 1.86B
1.39B 1.66B
1.11B 198.73M
- -
- -
820.99M 758.57M

820.99M 758.57M

13.5B 13.8B
2016 2017
4.88B 4.77B

7.57B 7.48B

2.84B 2.86B

3.21B 3.21B
- -
173.37M 179.59M

2.69B 2.72B

1.44B 1.73B

1.4B 1.69B

- -

50.02M 28.61M
- -
50.02M 28.61M
339.89M 342.19M
180.61M 197.77M
20.22B 20.67B
2016 2017

1.45B 1.19B

100M 100M

1.35B 1.09B

6.04B 5.28B
495.52M 538.61M
903.84M 1.03B
- -
189.96M 129.56M

713.88M 899.79M

8.89B 8.04B
1.24B 714.85M

1.2B 687.25M

1.2B 687.25M
- -
48.31M 27.6M

42.95M 42.95M

244.84M 301.94M
244.84M 301.94M
- -
14.34M 14.34M

14.34M 14.34M

- -
10.44B 9.11B
 - -

- -

- -

- -

9.78B 11.55B

565.3M 565.3M

8.36B 10.01B
- -

- -

456.32M 593.1M

- -
(25.02M) (25.02M)
9.78B 11.55B

- -

9.78B 11.55B
20.22B 20.67B

2.3B 2.78B

220.06M 244.3M

- -

- -

- -

- -
- -
(452.52M) (856.54M)
2.07B 2.16B
- -
(2.59B) 1.23B
(458.92M) 1.11B
(878.44M) (746.52M)
(133.56M) 220.99M
(517.44M) 3.4B
(153.05M) (193.62M)

(147.44M) (183.62M)
 (5.62M) (10M)

- -
450M -
425.32M (201.05M)
- (201.05M)

425.32M -

- -300,000
6.39M 3.03M
728.65M (391.95M)
(183.79M) (220.51M)
(183.79M) (220.51M)
- -
(20.07M) -

(20.07M) -

- -

- -

- -

(893.4M) (797.26M)
(300M) -
(593.4M) (797.26M)

945.22M 598.49M

(1.54B) (1.4B)

- -
- -
- -
(1.1B) (1.02B)
761,000 -42,000
0 0
(885.28M) 1.99B
(664.88M) 3.21B