McDonald's (MCD) 10-Q 6 May 14 2014 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2014
Document Documentand Entity Information [Abstract]	'
Document Type	'10-Q
Amendment Flag	'false
Document Period End Date	31-Mar-14
Document Fiscal Year Focus	'2014
Document Fiscal Period Focus	'Q1
Trading Symbol	'MCD
Entity Registrant Name	'MCDONALDS CORP
Entity Central Index Key	'0000063908
Current Fiscal Year End Date	'--12-31
Entity Filer Category	'Large Accelerated Filer
Entity Common Stock, Shares Outstanding	988,417,241

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheet (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Document Period End Date	31-Mar-14	'
Current assets	'	'
Cash and equivalents	$2,743.80	$2,798.70
Accounts and notes receivable	1,229.70	1,319.80
Inventories, at cost, not in excess of market	106.2	123.7
Prepaid expenses and other current assets	756.6	807.9
Total current assets	4,836.30	5,050.10
Other assets	'	'
Investments in and advances to affiliates	1,223.80	1,209.10
Goodwill	2,891.50	2,872.70
Miscellaneous	1,767.50	1,747.10
Total other assets	5,882.80	5,828.90
Property and equipment	'	'
Property and equipment, at cost	40,503.30	40,355.60
Accumulated depreciation and amortization	-14,853.30	-14,608.30
Net property and equipment	25,650	25,747.30
Total assets	36,369.10	36,626.30
Current liabilities	'	'
Accounts payable	828.1	1,086
Income taxes	427.8	215.5
Other taxes	393.4	383.1
Accrued interest	161.4	221.6
Accrued payroll and other liabilities	1,189.10	1,263.80
Current maturities of long-term debt	101.4	0
Total current liabilities	3,101.20	3,170
Long-term debt	13,825.40	14,129.80
Other long-term liabilities	1,706.60	1,669.10
Deferred income taxes	1,588.20	1,647.70
Shareholders' equity	'	'
Preferred stock, no par value; authorized—165.0 million shares; issued—none	0	0
Common stock, $.01 par value; authorized-3.5 billion shares; issued 1,660.6 million shares	16.6	16.6
Additional paid-in capital	6,062.90	5,994.10
Retained earnings	42,154.70	41,751.20
Accumulated other comprehensive income	444.3	427.6
Common stock in treasury, at cost; 672.2 and 670.2 million shares	-32,530.80	-32,179.80
Total shareholders' equity	16,147.70	16,009.70
Total liabilities and shareholders' equity	$36,369.10	$36,626.30

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheet (Parenthetical) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Preferred stock, par value	$0	$0
Preferred stock, authorized	165,000,000	165,000,000
Preferred stock, issued	0	0
Common stock, par value	$0.01	$0.01
Common stock, authorized	3,500,000,000	3,500,000,000
Common stock, issued	1,660,600,000	1,660,600,000
Common stock in treasury, shares	672,200,000	670,200,000

Condensed_Consolidated_Stateme

Condensed Consolidated Statement of Net Income (USD $)	3 Months Ended
In Millions, except Per Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Revenues	'	'
Sales by Company-operated restaurants	$4,490.50	$4,445.40
Revenues from franchised restaurants	2,209.80	2,159.90
Total revenues	6,700.30	6,605.30
Operating costs and expenses	'	'
Company-operated restaurant expenses	3,767.10	3,726
Franchised restaurants-occupancy expenses	417.1	395.2
Selling, general & administrative expenses	620.4	596.5
Other operating (income) expense, net	-40.3	-61.9
Total operating costs and expenses	4,764.30	4,655.80
Operating income	1,936	1,949.50
Interest expense	135.5	128.1
Nonoperating (income) expense, net	17.2	4.6
Income before provision for income taxes	1,783.30	1,816.80
Provision for income taxes	578.5	546.6
Net income	$1,204.80	$1,270.20
Earnings per common share-basic	$1.22	$1.27
Earnings per common share-diluted	$1.21	$1.26
Dividends declared per common share	$0.81	$0.77
Weighted average shares outstanding-basic	989.6	1,002.70
Weighted average shares outstanding-diluted	995.9	1,010.80

Consolidated_Statement_of_Comp

Consolidated Statement of Comprehensive Income (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Net income	$1,204.80	$1,270.20
Foreign currency translation adjustments:	'	'
Gain (loss) recognized in accumulated other comprehensive income (AOCI), including net investment hedges	-22.3	-386.4
Reclassification of (gain) loss to net income	13.1	0
Foreign currency translation adjustments-net of tax benefit (expense) of $17.4 and $(59.6)	-9.2	-386.4
Cash flow hedges:	'	'
Gain (loss) recognized in AOCI	30.2	-8.2
Reclassification of (gain) loss to net income	-13.4	-9.3
Cash flow hedges-net of tax benefit (expense) of $(7.2) and $2.7	16.8	-17.5
Defined benefit pension plans:	'	'
Gain (loss) recognized in AOCI	6.5	1.2
Reclassification of (gain) loss to net income	2.6	0.1
Defined benefit pension plans-net of tax benefit (expense) of $(4.4) and $(0.3)	9.1	1.3
Total other comprehensive income (loss), net of tax	16.7	-402.6
Comprehensive income	$1,221.50	$867.60

Consolidated_Statement_of_Comp1

Consolidated Statement of Comprehensive Income (parentheticals) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Other comprehensive income (loss), foreign currency translation adjustment, tax	$17.40	($59.60)
Other comprehensive income (loss), derivatives qualifying as hedges, tax	-7.2	2.7
Other comprehensive income (loss), pension and other postretirement benefit plans, tax	($4.40)	($0.30)

Condensed_Consolidated_Stateme1

Condensed Consolidated Statement of Cash Flows (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Operating activities	'	'
Net income	$1,204.80	$1,270.20
Charges and credits:	'	'
Depreciation and amortization	410.4	391.1
Deferred income taxes	-24	22.8
Share-based compensation	25.3	22.8
Other	54.7	67
Changes in working capital items	236.1	-87
Cash provided by operations	1,907.30	1,686.90
Investing activities	'	'
Capital expenditures	-568.8	-634.2
Sales and purchases of restaurant businesses and property sales	78.7	45.5
Other	-118.1	64.2
Cash used for investing activities	-608.2	-524.5
Financing activities	'	'
Short-term borrowings and long-term financing issuances and repayments	-235.1	-622.4
Treasury stock purchases	-439.5	-339.4
Common stock dividends	-801.7	-772.2
Proceeds from stock option exercises	86.4	112.9
Excess tax benefit on share-based compensation	35	52.4
Other	-0.2	-0.2
Cash used for financing activities	-1,355.10	-1,568.90
Effect of exchange rates on cash and cash equivalents	1.1	-60.3
Cash and equivalents decrease	-54.9	-466.8
Cash and equivalents at beginning of period	2,798.70	2,336.10
Cash and equivalents at end of period	$2,743.80	$1,869.30

Basis_of_Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Basis of Presentation	'
	Basis of Presentation
	The accompanying condensed consolidated financial statements should be read in conjunction with the consolidated financial statements contained in the Company’s December 31, 2013 Annual Report on Form 10‑K. In the opinion of management, all adjustments (consisting of normal recurring accruals) necessary for a fair presentation have been included. The results for the quarter ended March 31, 2014 do not necessarily indicate the results that may be expected for the full year.

Restaurant_Information

Restaurant Information	3 Months Ended
	Mar. 31, 2014
Disclosure Restaurant Information By Ownership Type [Abstract]	'
Restaurant Information	'
	Restaurant Information
	The following table presents restaurant information by ownership type:
	Restaurants at March 31,	2014	2013
	Conventional franchised	20,369	19,893
	Developmental licensed	4,833	4,420
	Foreign affiliated	3,572	3,657
	Total Franchised	28,774	27,970
	Company-operated	6,719	6,595
	Systemwide restaurants	35,493	34,565
	The results of operations of restaurant businesses purchased and sold in transactions with franchisees were not material either individually or in the aggregate to the condensed consolidated financial statements for the periods prior to purchase and sale.

Per_Common_Share_Information

Per Common Share Information	3 Months Ended
	Mar. 31, 2014
Earnings Per Share [Abstract]	'
Per Common Share Information	'
	Per Common Share Information
	Diluted earnings per common share is calculated using net income divided by diluted weighted-average shares. Diluted weighted-average shares include weighted-average shares outstanding plus the dilutive effect of share-based compensation, calculated using the treasury stock method, of 6.3 million shares and 8.1 million shares for the first quarter 2014 and 2013, respectively. Stock options that would have been antidilutive and therefore were not included in the calculation of diluted weighted-average shares totaled 9.2 million shares and 8.1 million shares for the first quarter 2014 and 2013, respectively.

Fair_Value_Measurements

Fair Value Measurements

3 Months Ended

Mar. 31, 2014

Fair Value Disclosures [Abstract]

'

Fair Value Measurements

'

Fair Value Measurements

The Company measures certain financial assets and liabilities at fair value. Fair value disclosures are reflected in a three-level hierarchy, maximizing the use of observable inputs and minimizing the use of unobservable inputs. The Company did not have any significant changes to the valuation techniques used to measure fair value as described in the Company's December 31, 2013 Annual Report on Form 10-K.

•

Certain Financial Assets and Liabilities Measured at Fair Value

The following table presents financial assets and liabilities measured at fair value on a recurring basis:

In millions

Level 1

Level 2

Carrying

Value

March 31, 2014

Derivative assets

$

130.5

$

46.8

$

177.3

Derivative liabilities

$

(130.4

)

$

(130.4

)

•

Certain Financial Assets and Liabilities not Measured at Fair Value

At March 31, 2014, the fair value of the Company’s debt obligations was estimated at $15.1 billion, compared to a carrying amount of $13.9 billion. The fair value was based upon quoted market prices, Level 2, within the valuation hierarchy. The carrying amounts of cash and equivalents and notes receivable approximate fair value.

Financial_Instruments_and_Hedg

Financial Instruments and Hedging Activities	3 Months Ended
	Mar. 31, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]	'
Financial Instruments and Hedging Activities	'
	Financial Instruments and Hedging Activities
	The Company is exposed to global market risks, including the effect of changes in interest rates and foreign currency fluctuations. The Company uses foreign currency denominated debt and derivative instruments to mitigate the impact of these changes. The Company does not hold or issue derivatives for trading purposes.
	The following table presents the fair values of derivative instruments included on the Consolidated balance sheet:
		Derivative Assets								Derivative Liabilities
	In millions	March 31,				December 31,				March 31,				December 31,
		2014				2013				2014				2013
	Total derivatives designated as hedging instruments		$	37.4			$	55.6			$	(123.5	)		$	(155.5	)
	Total derivatives not designated as hedging instruments		139.9				144.2				(6.9		)		(23.8		)
	Total derivatives		$	177.3			$	199.8			$	(130.4	)		$	(179.3	)
	The following table presents the pretax amounts affecting income and other comprehensive income ("OCI") for the quarters ended March 31, 2014 and 2013, respectively:
		Gain (Loss)								Gain (Loss) Reclassified								Gain (Loss) Recognized in
		Recognized in								into Income from								Income on Derivative(1)
		Accumulated OCI								Accumulated OCI
	In millions	2014				2013				2014				2013				2014				2013
	Cash Flow Hedges		$	43.2			$	(6.7	)		$	19.2			$	13.5			$	(0.6	)		$	(3.3	)
	Net Investment Hedges		$	(46.8	)		$	423.8			$	—			$	—
	Undesignated derivatives																		$	1.3			$	19.8
	-1	Includes amounts excluded from effectiveness testing, ineffectiveness, and undesignated gains (losses).
	•	Fair Value Hedges
	The Company enters into fair value hedges which convert a portion of its fixed-rate debt into floating-rate debt by use of interest rate swaps. At March 31, 2014, $2.6 billion of the Company's outstanding fixed-rate debt was effectively converted. For the quarter ended March 31, 2014, the Company recognized a $2.6 million loss on fair value interest rate swaps, which was exactly offset by a corresponding gain in the fair value of the hedged debt instruments.
	•	Cash Flow Hedges
	The Company enters into cash flow hedges to reduce the exposure to variability in certain expected future cash flows.
	To protect against the reduction in value of forecasted foreign currency cash flows (such as royalties denominated in foreign currencies), the Company uses foreign currency forwards and foreign currency options to hedge a portion of anticipated exposures. The hedges cover the next 19 months for certain exposures and are denominated in various currencies. As of March 31, 2014, the Company had derivatives outstanding with an equivalent notional amount of $589.3 million that hedged a portion of forecasted foreign currency denominated royalties.
	The Company uses cross-currency swaps to hedge the risk of cash flows associated with certain foreign currency denominated debt, including forecasted interest payments, and has elected cash flow hedge accounting. The hedges cover periods up to 44 months and have an equivalent notional amount of $341.8 million.
	Based on market conditions at March 31, 2014, the $14.5 million in cumulative cash flow hedging gains, after tax, is not expected to have a significant effect on earnings over the next 12 months.
	•	Net Investment Hedges
	The Company primarily uses foreign currency denominated debt (third party and intercompany) to hedge its investments in certain foreign subsidiaries and affiliates. Realized and unrealized translation adjustments from these hedges are included in shareholders' equity in the foreign currency translation component of OCI and offset translation adjustments on the underlying net assets of foreign subsidiaries and affiliates, which also are recorded in OCI. As of March 31, 2014, $4.3 billion of intercompany foreign currency denominated debt, $4.5 billion of the Company's third party foreign currency denominated debt and $1.0 billion of derivatives were designated to hedge investments in certain foreign subsidiaries and affiliates.
	•	Credit Risk
	The Company is exposed to credit-related losses in the event of non-performance by its derivative counterparties. The Company did not have significant exposure to any individual counterparty at March 31, 2014 and has master agreements that contain netting arrangements. For financial reporting purposes, the Company presents gross derivative balances in the financial statements and supplementary data, including for counterparties subject to netting arrangements.

Segment_Information

Segment Information	3 Months Ended
	Mar. 31, 2014
Segment Reporting [Abstract]	'
Segment Information	'
	Segment Information
	The Company franchises and operates McDonald’s restaurants in the global restaurant industry. The following table presents the Company’s revenues and operating income by geographic segment. The APMEA segment represents operations in Asia/Pacific, Middle East and Africa. Other Countries & Corporate represents operations in Canada and Latin America, as well as Corporate activities.
		Quarters Ended
		March 31,
	In millions	2014		2013
	Revenues
	U.S.	$	2,054.10	$	2,088.50
	Europe	2,712.20		2,586.40
	APMEA	1,618.80		1,593.70
	Other Countries & Corporate	315.2		336.7
	Total revenues	$	6,700.30	$	6,605.30
	Operating Income
	U.S.	$	820.8	$	844.7
	Europe	752.5		708.1
	APMEA	345.1		381.9
	Other Countries & Corporate	17.6		14.8
	Total operating income	$	1,936.00	$	1,949.50

Subsequent_Events

Subsequent Events	3 Months Ended
	Mar. 31, 2014
Subsequent Events [Abstract]	'
Subsequent Events	'
	Subsequent Events
	The Company evaluated subsequent events through the date the financial statements were issued and filed with the Securities and Exchange Commission. There were no subsequent events that required recognition or disclosure.

Restaurant_Information_Tables

Restaurant Information (Tables)	3 Months Ended
	Mar. 31, 2014
Disclosure Restaurant Information By Ownership Type [Abstract]	'
Restaurant Information by Ownership Type	'
	The following table presents restaurant information by ownership type:
	Restaurants at March 31,	2014	2013
	Conventional franchised	20,369	19,893
	Developmental licensed	4,833	4,420
	Foreign affiliated	3,572	3,657
	Total Franchised	28,774	27,970
	Company-operated	6,719	6,595
	Systemwide restaurants	35,493	34,565

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2014
Fair Value Disclosures [Abstract]	'
Financial Assets and Liabilities Measured at Fair Value on Recurring Basis	'
	In millions	Level 1			Level 2				Carrying
									Value
	March 31, 2014
	Derivative assets		$	130.5		$	46.8			$	177.3
	Derivative liabilities					$	(130.4	)		$	(130.4	)

Financial_Instruments_and_Hedg1

Financial Instruments and Hedging Activities (Tables)	3 Months Ended
	Mar. 31, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]	'
Fair Values of Derivative Instruments Included on Consolidated Balance Sheet	'
	The following table presents the fair values of derivative instruments included on the Consolidated balance sheet:
		Derivative Assets								Derivative Liabilities
	In millions	March 31,				December 31,				March 31,				December 31,
		2014				2013				2014				2013
	Total derivatives designated as hedging instruments		$	37.4			$	55.6			$	(123.5	)		$	(155.5	)
	Total derivatives not designated as hedging instruments		139.9				144.2				(6.9		)		(23.8		)
	Total derivatives		$	177.3			$	199.8			$	(130.4	)		$	(179.3	)
Derivatives Pretax Amounts Affecting Income and Other Comprehensive Income	'
	The following table presents the pretax amounts affecting income and other comprehensive income ("OCI") for the quarters ended March 31, 2014 and 2013, respectively:
		Gain (Loss)								Gain (Loss) Reclassified								Gain (Loss) Recognized in
		Recognized in								into Income from								Income on Derivative(1)
		Accumulated OCI								Accumulated OCI
	In millions	2014				2013				2014				2013				2014				2013
	Cash Flow Hedges		$	43.2			$	(6.7	)		$	19.2			$	13.5			$	(0.6	)		$	(3.3	)
	Net Investment Hedges		$	(46.8	)		$	423.8			$	—			$	—
	Undesignated derivatives																		$	1.3			$	19.8
	-1	Includes amounts excluded from effectiveness testing, ineffectiveness, and undesignated gains (losses).

Segment_Information_Tables

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2014
Segment Reporting [Abstract]	'
Revenues and Operating Income by Geographic Segment	'
	The following table presents the Company’s revenues and operating income by geographic segment. The APMEA segment represents operations in Asia/Pacific, Middle East and Africa. Other Countries & Corporate represents operations in Canada and Latin America, as well as Corporate activities.
		Quarters Ended
		March 31,
	In millions	2014		2013
	Revenues
	U.S.	$	2,054.10	$	2,088.50
	Europe	2,712.20		2,586.40
	APMEA	1,618.80		1,593.70
	Other Countries & Corporate	315.2		336.7
	Total revenues	$	6,700.30	$	6,605.30
	Operating Income
	U.S.	$	820.8	$	844.7
	Europe	752.5		708.1
	APMEA	345.1		381.9
	Other Countries & Corporate	17.6		14.8
	Total operating income	$	1,936.00	$	1,949.50

Restaurant_Information_by_Owne

Restaurant Information by Ownership Type (Detail)	Mar. 31, 2014	Mar. 31, 2013
	Restaurant	Restaurant
Segment Reporting Information [Line Items]	'	'
Number of Restaurants	35,493	34,565
Franchised	'	'
Segment Reporting Information [Line Items]	'	'
Number of Restaurants	28,774	27,970
Franchised | Conventional franchised	'	'
Segment Reporting Information [Line Items]	'	'
Number of Restaurants	20,369	19,893
Franchised | Developmental licensed	'	'
Segment Reporting Information [Line Items]	'	'
Number of Restaurants	4,833	4,420
Franchised | Affiliated	'	'
Segment Reporting Information [Line Items]	'	'
Number of Restaurants	3,572	3,657
Company-operated	'	'
Segment Reporting Information [Line Items]	'	'
Number of Restaurants	6,719	6,595

Per_Common_Share_Information_A

Per Common Share Information (Additional Information) (Detail)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Earnings Per Share [Abstract]	'	'
Dilutive effect of share-based compensation	6.3	8.1
Stock options that were not included in diluted weighted-average shares	9.2	8.1

Fair_Value_Measurements_Additi

Fair Value Measurements (Additional Information) (Detail) (USD $)	Mar. 31, 2014
In Billions, unless otherwise specified
Fair Value Measurements [Line Items]	'
Debt obligations, carrying amount	$13.90
Level 2	'
Fair Value Measurements [Line Items]	'
Debt obligations, fair value	$15.10

Financial_Assets_and_Liabiliti

(Financial Assets and Liabilities Measured at Fair Value on Recurring Basis) (Detail) (Fair Value, Measurements, Recurring, USD $)	Mar. 31, 2014
In Millions, unless otherwise specified
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Derivative assets	$177.30
Derivative liabilities	-130.4
Level 1	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Derivative assets	130.5
Level 2	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Derivative assets	46.8
Derivative liabilities	($130.40)

Financial_Instruments_and_Hedg2

Financial Instruments and Hedging Activities (Fair Values of Derivative Instruments Included on Consolidated Balance Sheet) (Detail) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
Derivatives, Fair Value [Line Items]	'	'
Asset Derivatives Fair Value	$177.30	$199.80
Liability Derivatives Fair Value	-130.4	-179.3
Designated as Hedging Instrument	'	'
Derivatives, Fair Value [Line Items]	'	'
Asset Derivatives Fair Value	37.4	55.6
Liability Derivatives Fair Value	-123.5	-155.5
Derivatives Not Designated as Hedging Instruments	'	'
Derivatives, Fair Value [Line Items]	'	'
Asset Derivatives Fair Value	139.9	144.2
Liability Derivatives Fair Value	($6.90)	($23.80)

Derivatives_Pretax_Amounts_Aff

(Derivatives Pretax Amounts Affecting Income and Other Comprehensive Income) (Detail) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Derivatives in Cash Flow Hedging Relationships	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'
Gain(Loss)Reclassified from Accumulated OCI into Income (Effective Portion)	$19.20	$13.50
Gain (Loss) Recognized in Accumulated OCI on Derivative (Effective Portion)	43.2	-6.7
Gain (Loss) Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing and Ineffective Portion)	-0.6	-3.3
Derivatives Not Designated as Hedging Instruments	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'
Gain (Loss) Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing and Ineffective Portion)	1.3	19.8
Net Investment Hedging Relationships	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'
Gain(Loss)Reclassified from Accumulated OCI into Income (Effective Portion)	0	0
Gain (Loss) Recognized in Accumulated OCI on Derivative (Effective Portion)	($46.80)	$423.80

Financial_Instruments_and_Hedg3

(Financial Instruments and Hedging Activities - Additional Information) (Detail) (USD $)	3 Months Ended
	Mar. 31, 2014
Derivative Instruments and Hedging Activities Disclosure [Line Items]	'
Derivative, Notional Amount	$1,000,000,000
Cumulative deferred hedging gains, after tax, included in accumulated other comprehensive income	14,500,000
Foreign currency denominated royalties	'
Derivative Instruments and Hedging Activities Disclosure [Line Items]	'
Period covered by hedge	'19 months
Derivative, Notional Amount	589,300,000
Cross Currency Swap	'
Derivative Instruments and Hedging Activities Disclosure [Line Items]	'
Period covered by hedge	'44 months
Derivative, Notional Amount	341,800,000
Interest Rate Swap	'
Derivative Instruments and Hedging Activities Disclosure [Line Items]	'
Derivative, Notional Amount	2,600,000,000
Intercompany Debt [Member]	'
Derivative Instruments and Hedging Activities Disclosure [Line Items]	'
Foreign currency denominated debt designated to hedge investments in certain foreign subsidiaries and affiliates	4,300,000,000
Debt [Member]	'
Derivative Instruments and Hedging Activities Disclosure [Line Items]	'
Foreign currency denominated debt designated to hedge investments in certain foreign subsidiaries and affiliates	4,500,000,000
Fair Value Hedging [Member] | Interest Rate Risk [Member]	'
Derivative Instruments and Hedging Activities Disclosure [Line Items]	'
Derivative Instruments, Gain (Loss) Recognized in Income, Net	($2,600,000)

Segment_Information_Segment_an

Segment Information (Segment and Geographic Information) (Detail) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Revenue, Major Customer [Line Items]	'	'
Total revenues	$6,700.30	$6,605.30
Operating Income	1,936	1,949.50
U.S.	'	'
Revenue, Major Customer [Line Items]	'	'
Total revenues	2,054.10	2,088.50
Operating Income	820.8	844.7
Europe	'	'
Revenue, Major Customer [Line Items]	'	'
Total revenues	2,712.20	2,586.40
Operating Income	752.5	708.1
APMEA	'	'
Revenue, Major Customer [Line Items]	'	'
Total revenues	1,618.80	1,593.70
Operating Income	345.1	381.9
Other Countries & Corporate	'	'
Revenue, Major Customer [Line Items]	'	'
Total revenues	315.2	336.7
Operating Income	$17.60	$14.80