Dec. 31, 2020 12 Months Ended Dec. 31, 2019 Dec 31, 2018 $ 8,139.2 10,726.1 342.5 19,207.8 $ 9,420.8 11,655.7 287.9 21,364.4 $ 10,012.7 11,012.5 232.7 21,257.9 Consolidated Statement of Income - USD ($) shares in Millions $ in Millions REVENUES Sales by Company-operated restaurants Revenues from franchised restaurants Other Revenues Total revenues OPERATING COSTS AND EXPENSES Food & paper Payroll & employee benefits Occupancy & other operating expenses Franchised restaurants occupancy expenses Other Expenses Depreciation, Depletion and Amortization Other Selling, General and Administrative Expense Other operating (income) expense, net Total operating costs and expenses Operating income Interest expense-net of capitalized interest of $6.0, $7.4 and $5.6 Nonoperating (income) expense, net Income before provision for income taxes Provision for income taxes Net income Earnings per common share-basic Earnings per common share-diluted Dividends declared per common share Weighted average shares outstanding-basic Weighted average shares outstanding-diluted 2,564.2 2,416.4 2,000.6 2,207.5 267 300.6 2,245 (117.5) 11,883.8 7,324 1,218.1 (34.8) 6,140.7 1,410.2 $4,730.5 $6.35 6.31 $ 5.04 744.6 750.1 2,980.3 2,704.4 2,075.9 2,200.6 223.8 262.5 1,966.9 (119.8) 12,294.6 9,069.8 1,121.9 (70.2) 8,018.1 1,992.7 $6,025.4 $7.95 7.88 S 4.73 758.1 764.9 3,153.8 2,937.9 2,174.2 1,973.3 186.1 214.8 1,985.4 (190.2) 12,435.3 8,822.6 981.2 25.3 7,816.1 1,891.8 $ 5,924.3 $ 7.61 7.54 $ 4.19 778.2 785.6 Dec. 31, 2020 Dec 31, 2019 $ 3,449.1 2,110.3 51.1 632.7 6,243.2 $ 898.5 2.224.2 50.2 385 3,557.9 1,297.2 2,773.1 3,527.4 7,597.7 13,827.7 1,270.3 2,677.4 2,584 6,531.7 13,261.2 41,476.5 (16,518.3) 24,958.2 52,626.8 39,050.9 (14,890.9) 24,160 47,510.8 Consolidated Balance Sheet - USD ($) $ in Millions Current assets Cash and equivalents Accounts and notes receivable Inventories, at cost, not in excess of market Prepaid expenses and other current assets Total current assets Other assets Investments in and advances to affiliates Goodwill Miscellaneous Total other assets Lease right-of-use asset, net Property and equipment Property and equipment, at cost Accumulated depreciation and amortization Net property and equipment Total assets Current liabilities Accounts payable Lease liability Income taxes Other taxes Accrued interest Accrued payroll and other liabilities Current maturities of long term debt Total current liabilities Long-term debt Long-term lease liability Long-term income taxes Deferred revenues - initial franchise fees Other long-term liabilities Deferred Income Taxes Shareholders' equity (deficit) Preferred stock, no par value; authorized - 165.0 million shares; issued - none Common stock, $.01 par value; authorized 3.5 billion shares; issued - 1,660.6 million shares Additional paid-in capital Retained earnings Accumulated other comprehensive income (loss) Common stock in treasury, at cost; 915.2 and 914.3 million shares Total shareholders' equity (deficit) Total liabilities and shareholders' equity (deficit) 741.3 701.5 741.1 227 388.4 1.138.3 2,243.6 6,181.2 35,196.8 13,321.3 1,970.7 702 1,054.1 2,025.6 988.2 621 331.7 247.5 337.8 1,035.7 59.1 3,621 34,118.1 12,757.8 2,265.9 660.6 979.6 1,318.1 0 0 16.6 16.6 7,903.6 53,908.1 (2,586.8) (67,066.4) (7,824.9) $ 52,626.8 7,653.9 52.930.5 (2.482.7) (66,328.6) (8,210.3) $ 47,510.8 12 Months Ended Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 $4,730.5 $ 6,025.4 $ 5,924.3 1.751.4 6.4 92.4 (28.2) (75.2) 1,617.9 149.7 109.6 (128.2) 49.2 1,482 102.6 125.1 (308.8) 114.2 (6.8) (68.6) (1375) (43.6) 27 128.8 (26.8) 173.4 (3.9) 8,122.1 (479.4) (1.9) 129.4 (33.4) (87.4) 6,966.7 6,265.2 Consolidated Statement of Cash Flows - USD ($) $ in Millions Operating activities Net income Charges and credits: Depreciation and amortization Deferred income taxes Share-based compensation Net gain on sale of restaurant businesses Other Changes in working capital items: Accounts receivable Inventories, prepaid expenses and other current assets Accounts payable Income taxes Other accrued liabilities Cash provided by operations Investing activities Capital expenditures Purchases of restaurant and other businesses Sales of restaurant businesses Sales of property Other Cash used for investing activities Financing activities Net short-term borrowings Long-term financing issuances Long-term financing repayments Treasury stock purchases Common stock dividends Proceeds from stock option exercises Other Cash used for financing activities Effect of exchange rates on cash and equivalents Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), including Exchange Rate Effect, Total Cash and equivalents at beginning of year Cash and equivalents at end of year Supplemental cash flow disclosures Interest Paid Income taxes paid (1.640.8) (66.1) 76.3 27.4 57.4 (1.545.8) (2,393.7) (540.9) 340.8 151.2 (628.5) (3,071.1) (2.741.7) (101.7) 530.8 160.4 (302.9) (2.455.1) (893.1) 5,543 (2.411.7) (907.8) (3.752.9) 295.5 (122) (2,249) 80.2 2.550.6 799.2 4,499 (2,061.9) (4,976.2) (3,581.9) 350.5 (23.5) (4.994.8) (23.7) 32.5 95.9 3,794.5 (1.759.6) (5.207.7) (3.255.9) 403.2 (20) (5,949.6) (159.8) (1,597.8) 898.5 3,449.1 866 898.5 2,463.8 866 1.136 $1.441.9 1,066.5 $ 1,589.7 959.6 $ 1,734.4 2018 27.87% 1. DuPont decomposition Net Profit Margin = NI / Sales TATO = Sales / TA EM = Assets / Equity ROE = NPM * TATO * EM 2019 63.96% 2.65 -0.43 -73.39% 2020 24.63% 1.30 -0.80 -25.62% Comments deteriotated deteriotated decreased improved 2018 2019 2020 2. Common size Income Statement (%) Income Statement (Abstract] Net sales Cost of sales Gross margin Operating expenses: Research and development Selling, general and administrative Total operating expenses Operating margin Other income/expense), net Income before provision for income taxes Provision for income taxes Net income 2018 2019 2020 3. Asset management ratios AR TO Inventory TO Fixed Asset TO DSO=AR/Sales* 365 2018 2019 2020 4. Debt management ratios Debt/Assets Long Debt/Equity TIENEBIT/Interest