McDonald's (MCD) 10-Q 3 Nov 14 2014 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Sep. 30, 2014
Document Documentand Entity Information [Abstract]	'
Document Type	'10-Q
Amendment Flag	'false
Document Period End Date	30-Sep-14
Document Fiscal Year Focus	'2014
Document Fiscal Period Focus	'Q3
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	973,203,623

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheet (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
Current assets	'	'
Cash and equivalents	$2,825.80	$2,798.70
Short-term investments	407.5	160
Accounts and notes receivable	1,226.70	1,319.80
Inventories, at cost, not in excess of market	105	123.7
Prepaid expenses and other current assets	645.4	647.9
Total current assets	5,210.40	5,050.10
Other assets	'	'
Investments in and advances to affiliates	1,106.40	1,209.10
Goodwill	2,811.20	2,872.70
Miscellaneous	1,907.50	1,747.10
Total other assets	5,825.10	5,828.90
Property and equipment	'	'
Property and equipment, at cost	39,804.60	40,355.60
Accumulated depreciation and amortization	-14,819.30	-14,608.30
Net property and equipment	24,985.30	25,747.30
Total assets	36,020.80	36,626.30
Current liabilities	'	'
Accounts payable	847.3	1,086
Dividends payable	815.5	0
Income taxes	115.3	215.5
Other taxes	379.7	383.1
Accrued interest	195.7	221.6
Accrued payroll and other liabilities	1,212.80	1,263.80
Current maturities of long-term debt	613.3	0
Total current liabilities	4,179.60	3,170
Long-term debt	14,516.90	14,129.80
Other long-term liabilities	2,175.20	1,669.10
Deferred income taxes	1,523.20	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	6,187.70	5,994.10
Retained earnings	42,201.80	41,751.20
Accumulated other comprehensive income	-596.3	427.6
Common stock in treasury, at cost; 687.4 and 670.2 million shares	-34,183.90	-32,179.80
Total shareholders' equity	13,625.90	16,009.70
Total liabilities and shareholders' equity	$36,020.80	$36,626.30

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheet (Parenthetical) (USD $)	Sep. 30, 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	687,400,000	670,200,000

Condensed_Consolidated_Stateme

Condensed Consolidated Statement of Net Income (USD $)	3 Months Ended		9 Months Ended
In Millions, except Per Share data, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Revenues	'	'	'	'
Sales by Company-operated restaurants	$4,596.20	$4,923.10	$13,872.60	$14,129.90
Revenues from franchised restaurants	2,390.90	2,400.30	6,996.50	6,882.60
Total revenues	6,987.10	7,323.40	20,869.10	21,012.50
Operating costs and expenses	'	'	'	'
Company-operated restaurant expenses	3,874.70	4,004.40	11,611.60	11,649.90
Franchised restaurants-occupancy expenses	431.2	408.4	1,275.90	1,202.70
Selling, general & administrative expenses	575.8	554.3	1,825.40	1,757.80
Other operating (income) expense, net	32.9	-60.4	-41.3	-161.8
Total operating costs and expenses	4,914.60	4,906.70	14,671.60	14,448.60
Operating income	2,072.50	2,416.70	6,197.50	6,563.90
Interest expense	149.3	130.5	422.7	388.4
Nonoperating (income) expense, net	2.1	13.6	-1.1	26.2
Income before provision for income taxes	1,921.10	2,272.60	5,775.90	6,149.30
Provision for income taxes	852.7	750.4	2,115.60	1,960.40
Net income	$1,068.40	$1,522.20	$3,660.30	$4,188.90
Earnings per common share-basic	$1.09	$1.53	$3.72	$4.19
Earnings per common share-diluted	$1.09	$1.52	$3.69	$4.16
Dividends declared per common share	$1.66	$1.58	$3.28	$3.12
Weighted average shares outstanding-basic	978.7	997.3	985.2	1,000.50
Weighted average shares outstanding-diluted	983.8	1,004.20	991.1	1,008.20

Consolidated_Statement_of_Comp

Consolidated Statement of Comprehensive Income (USD $)	3 Months Ended		9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Net income	$1,068.40	$1,522.20	$3,660.30	$4,188.90
Foreign currency translation adjustments:	'	'	'	'
Gain (loss) recognized in accumulated other comprehensive income (AOCI), including net investment hedges	-1,168.90	496.4	-1,077.70	-253.1
Reclassification of (gain) loss to net income	0	0	15.2	0
Foreign currency translation adjustments-net of tax benefit (expense) of $(110.4), $57.6, $(93.2) and $5.7	-1,168.90	496.4	-1,062.50	-253.1
Cash flow hedges:	'	'	'	'
Gain (loss) recognized in AOCI	19.5	-17.6	33	-47.9
Reclassification of (gain) loss to net income	-0.1	8.4	-6.2	20.7
Cash flow hedges-net of tax benefit (expense) of $(11.8), $3.5, $(14.6) and $6.3	19.4	-9.2	26.8	-27.2
Defined benefit pension plans:	'	'	'	'
Gain (loss) recognized in AOCI	0	0	6.5	0.1
Reclassification of (gain) loss to net income	1.3	0.2	5.3	0.4
Defined benefit pension plans-net of tax benefit (expense) of $0.0, $0.0, $(4.4) and $0.0	1.3	0.2	11.8	0.5
Total other comprehensive income (loss), net of tax	-1,148.20	487.4	-1,023.90	-279.8
Comprehensive income (loss)	($79.80)	$2,009.60	$2,636.40	$3,909.10

Consolidated_Statement_of_Comp1

Consolidated Statement of Comprehensive Income (parentheticals) (USD $)	3 Months Ended		9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Other comprehensive income (loss), foreign currency translation adjustment, tax	($110.40)	$57.60	($93.20)	$5.70
Other comprehensive income (loss), derivatives qualifying as hedges, tax	-11.8	3.5	-14.6	6.3
Other comprehensive income (loss), pension and other postretirement benefit plans, tax	$0	$0	($4.40)	$0

Condensed_Consolidated_Stateme1

Condensed Consolidated Statement of Cash Flows (USD $)	3 Months Ended		9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Operating activities	'	'	'	'
Net income	$1,068.40	$1,522.20	$3,660.30	$4,188.90
Charges and credits:	'	'	'	'
Depreciation and amortization	413.4	394.5	1,237	1,176.50
Deferred income taxes	-104	18.7	-142.8	13.4
Share-based compensation	23.3	22.7	75.1	68.9
Other	290	-8	353.7	78.5
Changes in working capital items	141.8	100.4	43.9	-279
Cash provided by operations	1,832.90	2,050.50	5,227.20	5,247.20
Investing activities	'	'	'	'
Capital expenditures	-658.9	-687.1	-1,817.30	-1,920.70
Sales and purchases of restaurant businesses and property sales	71.9	77.1	229.8	126.7
Other	-195.6	24.4	-418.4	127.8
Cash used for investing activities	-782.6	-585.6	-2,005.90	-1,666.20
Financing activities	'	'	'	'
Short-term borrowings and long-term financing issuances and repayments	147.6	-67.8	1,379.30	-91.1
Treasury stock purchases	-944.4	-501.1	-2,087.40	-1,273.10
Common stock dividends	-793	-767.5	-2,395.30	-2,310.80
Proceeds from stock option exercises	39.6	25.2	201.3	203.6
Excess tax benefit on share-based compensation	11	8.9	67.5	82.1
Other	-3.2	0.7	-11.9	-6.2
Cash used for financing activities	-1,542.40	-1,301.60	-2,846.50	-3,395.50
Effect of exchange rates on cash and cash equivalents	-352.7	102.6	-347.7	22.7
Cash and equivalents increase (decrease)	-844.8	265.9	27.1	208.2
Cash and equivalents at beginning of period	3,670.60	2,278.40	2,798.70	2,336.10
Cash and equivalents at end of period	$2,825.80	$2,544.30	$2,825.80	$2,544.30

Basis_of_Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 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 and nine months ended September 30, 2014 do not necessarily indicate the results that may be expected for the full year.

Restaurant_Information

Restaurant Information	9 Months Ended
	Sep. 30, 2014
Disclosure Restaurant Information By Ownership Type [Abstract]	'
Restaurant Information	'
	Restaurant Information
	The following table presents restaurant information by ownership type:
	Restaurants at September 30,	2014	2013
	Conventional franchised	20,573	20,117
	Developmental licensed	5,059	4,566
	Foreign affiliated	3,540	3,598
	Total Franchised	29,172	28,281
	Company-operated	6,692	6,642
	Systemwide restaurants	35,864	34,923
	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	9 Months Ended
	Sep. 30, 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 5.1 million shares and 6.9 million shares for the quarters 2014 and 2013, respectively, and 5.9 million shares and 7.7 million shares for the nine months 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 7.7 million shares for the quarters 2014 and 2013, respectively, and 5.3 million shares and 4.7 million shares for the nine months 2014 and 2013, respectively.
	In September 2014, McDonald's Board of Directors declared a fourth quarter dividend of $0.85 per share of common stock, resulting in $815.5 million of dividends payable in December 2014.

Fair_Value_Measurements

Fair Value Measurements

9 Months Ended

Sep. 30, 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

September 30, 2014

Derivative assets

$

127.8

$

93.3

$

221.1

Derivative liabilities

$

(54.2

)

$

(54.2

)

•

Certain Financial Assets and Liabilities not Measured at Fair Value

At September 30, 2014, the fair value of the Company’s debt obligations was estimated at $16.5 billion, compared to a carrying amount of $15.1 billion. The fair value was based upon quoted market prices, Level 2 within the valuation hierarchy. The carrying amounts of cash and equivalents, short-term investments and notes receivable approximate fair value.

Financial_Instruments_and_Hedg

Financial Instruments and Hedging Activities	9 Months Ended
	Sep. 30, 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	September 30,			December 31,				September 30,				December 31,
		2014			2013				2014				2013
	Total derivatives designated as hedging instruments		$	83.1		$	55.6			$	(48.2	)		$	(155.5	)
	Total derivatives not designated as hedging instruments		138			144.2				(6.0		)		(23.8		)
	Total derivatives		$	221.1		$	199.8			$	(54.2	)		$	(179.3	)
	The following table presents the pretax amounts affecting income and other comprehensive income ("OCI") for the nine months ended September 30, 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		$	50.4		$	(62.3	)		$	9			$	(28.8	)		$	0.7		$	(7.7	)
	Net Investment Hedges		$	698.4		$	(229.8	)		$	(15.2	)		$	—
	Undesignated derivatives																	$	14.8		$	(31.7	)
	-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 September 30, 2014, $2.6 billion of the Company's outstanding fixed-rate debt was effectively converted. For the nine months ended September 30, 2014, the Company recognized a $11.8 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 September 30, 2014, the Company had derivatives outstanding with an equivalent notional amount of $525.8 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 30 months and have an equivalent notional amount of $150.0 million.
	Based on market conditions at September 30, 2014, the $24.5 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 September 30, 2014, $4.8 billion of the Company's third party foreign currency denominated debt, $4.0 billion of intercompany foreign currency denominated debt and $0.9 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 September 30, 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	9 Months Ended
	Sep. 30, 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				Nine Months Ended
		September 30,				September 30,
	In millions	2014		2013		2014		2013
	Revenues
	U.S.	$	2,202.10	$	2,289.00	$	6,505.20	$	6,659.90
	Europe	2,884.10		2,955.30		8,509.60		8,378.80
	APMEA	1,530.50		1,683.10		4,813.60		4,866.30
	Other Countries & Corporate	370.4		396		1,040.70		1,107.50
	Total revenues	$	6,987.10	$	7,323.40	$	20,869.10	$	21,012.50
	Operating Income
	U.S.	$	914.4	$	1,021.70	$	2,715.70	$	2,834.30
	Europe	926.2		944.4		2,532.30		2,503.30
	APMEA	177.9		391.8		871.3		1,128.40
	Other Countries & Corporate	54		58.8		78.2		97.9
	Total operating income	$	2,072.50	$	2,416.70	$	6,197.50	$	6,563.90

Income_Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2014
Income Taxes [Abstract]	'
Income Tax Disclosure [Text Block]	'
	Income Taxes
	The effective income tax rate for the quarter and nine months ended September 30, 2014 was 44.4% and 36.6%, respectively. These effective income tax rates reflected an increase in tax reserves for 2003-2008 and the associated interest expense resulting from an unfavorable lower tax court ruling in a foreign tax jurisdiction, as well as the impact of changes in tax reserves and the associated interest expense related to audit progression in other foreign tax jurisdictions. In reconciling the effective income tax rate to the statutory US federal income tax rate for the nine months ended September 30, 2014, the net tax cost associated with these adjustments impacted the effective income tax rate by 4.5%.
	As a result of these adjustments, the December 31, 2013 balance of unrecognized tax benefits has increased by $450 million for tax positions taken in prior years. After considering the deferred tax accounting impact, approximately $170 million of this increase would favorably affect the effective tax rate if resolved in the Company’s favor.
	It is reasonably possible that the total amount of the unrecognized tax benefits could decrease within the next 12 months by $640 million due to the possible completion of the 2009 and 2010 IRS audit, various foreign and US state tax audits and the expiration of the statute of limitations in multiple tax jurisdictions. Additionally, it is reasonably possible that, as a result of audit progression within the next 12 months, there may be new information that causes the Company to reassess the total amount of unrecognized tax benefits recorded. While the Company cannot estimate the impact that new information may have on our unrecognized tax benefit balance, we believe that the liabilities recorded are appropriate and adequate as determined under Accounting Standards Codification (ASC) 740, "Income Taxes.

Recently_Issued_Accounting_Sta

Recently Issued Accounting Standard	9 Months Ended
	Sep. 30, 2014
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]	'
Recently Issued Accounting Standard	'
	Recently Issued Accounting Standard
	In May 2014, the Financial Accounting Standards Board issued guidance codified in ASC 606, "Revenue Recognition - Revenue from Contracts with Customers," which amends the guidance in former ASC 605, "Revenue Recognition," and becomes effective beginning January 1, 2017. The Company is currently evaluating the impact of the provisions of ASC 606.

Subsequent_Events

Subsequent Events	9 Months Ended
	Sep. 30, 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)	9 Months Ended
	Sep. 30, 2014
Disclosure Restaurant Information By Ownership Type [Abstract]	'
Restaurant Information by Ownership Type	'
	The following table presents restaurant information by ownership type:
	Restaurants at September 30,	2014	2013
	Conventional franchised	20,573	20,117
	Developmental licensed	5,059	4,566
	Foreign affiliated	3,540	3,598
	Total Franchised	29,172	28,281
	Company-operated	6,692	6,642
	Systemwide restaurants	35,864	34,923

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2014
Fair Value Disclosures [Abstract]	'
Financial Assets and Liabilities Measured at Fair Value on Recurring Basis	'
	In millions	Level 1			Level 2				Carrying
									Value
	September 30, 2014
	Derivative assets		$	127.8		$	93.3			$	221.1
	Derivative liabilities					$	(54.2	)		$	(54.2	)

Financial_Instruments_and_Hedg1

Financial Instruments and Hedging Activities (Tables)	9 Months Ended
	Sep. 30, 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	September 30,			December 31,				September 30,				December 31,
		2014			2013				2014				2013
	Total derivatives designated as hedging instruments		$	83.1		$	55.6			$	(48.2	)		$	(155.5	)
	Total derivatives not designated as hedging instruments		138			144.2				(6.0		)		(23.8		)
	Total derivatives		$	221.1		$	199.8			$	(54.2	)		$	(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 nine months ended September 30, 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		$	50.4		$	(62.3	)		$	9			$	(28.8	)		$	0.7		$	(7.7	)
	Net Investment Hedges		$	698.4		$	(229.8	)		$	(15.2	)		$	—
	Undesignated derivatives																	$	14.8		$	(31.7	)
	-1	Includes amounts excluded from effectiveness testing, ineffectiveness, and undesignated gains (losses).

Segment_Information_Tables

Segment Information (Tables)	9 Months Ended
	Sep. 30, 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				Nine Months Ended
		September 30,				September 30,
	In millions	2014		2013		2014		2013
	Revenues
	U.S.	$	2,202.10	$	2,289.00	$	6,505.20	$	6,659.90
	Europe	2,884.10		2,955.30		8,509.60		8,378.80
	APMEA	1,530.50		1,683.10		4,813.60		4,866.30
	Other Countries & Corporate	370.4		396		1,040.70		1,107.50
	Total revenues	$	6,987.10	$	7,323.40	$	20,869.10	$	21,012.50
	Operating Income
	U.S.	$	914.4	$	1,021.70	$	2,715.70	$	2,834.30
	Europe	926.2		944.4		2,532.30		2,503.30
	APMEA	177.9		391.8		871.3		1,128.40
	Other Countries & Corporate	54		58.8		78.2		97.9
	Total operating income	$	2,072.50	$	2,416.70	$	6,197.50	$	6,563.90

Restaurant_Information_by_Owne

Restaurant Information by Ownership Type (Detail)	Sep. 30, 2014	Sep. 30, 2013
	Restaurant	Restaurant
Segment Reporting Information [Line Items]	'	'
Number of Restaurants	35,864	34,923
Franchised	'	'
Segment Reporting Information [Line Items]	'	'
Number of Restaurants	29,172	28,281
Franchised | Conventional franchised	'	'
Segment Reporting Information [Line Items]	'	'
Number of Restaurants	20,573	20,117
Franchised | Developmental licensed	'	'
Segment Reporting Information [Line Items]	'	'
Number of Restaurants	5,059	4,566
Franchised | Affiliated	'	'
Segment Reporting Information [Line Items]	'	'
Number of Restaurants	3,540	3,598
Company-operated	'	'
Segment Reporting Information [Line Items]	'	'
Number of Restaurants	6,692	6,642

Per_Common_Share_Information_A

Per Common Share Information (Additional Information) (Detail) (USD $)	3 Months Ended		9 Months Ended
In Millions, except Per Share data, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Earnings Per Share [Abstract]	'	'	'	'	'
Dilutive effect of share-based compensation	5.1	6.9	5.9	7.7	'
Stock options that were not included in diluted weighted-average shares	9.2	7.7	5.3	4.7	'
Dividends Payable, Amount Per Share	$0.85	'	$0.85	'	'
Dividends payable	$815.50	'	$815.50	'	$0

Fair_Value_Measurements_Additi

Fair Value Measurements (Additional Information) (Detail) (USD $)	Sep. 30, 2014
In Billions, unless otherwise specified
Fair Value Measurements [Line Items]	'
Debt obligations, carrying amount	$15.10
Level 2	'
Fair Value Measurements [Line Items]	'
Debt obligations, fair value	$16.50

Financial_Assets_and_Liabiliti

(Financial Assets and Liabilities Measured at Fair Value on Recurring Basis) (Detail) (Fair Value, Measurements, Recurring, USD $)	Sep. 30, 2014
In Millions, unless otherwise specified
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Derivative assets	$221.10
Derivative liabilities	-54.2
Level 1	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Derivative assets	127.8
Level 2	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Derivative assets	93.3
Derivative liabilities	($54.20)

Financial_Instruments_and_Hedg2

Financial Instruments and Hedging Activities (Fair Values of Derivative Instruments Included on Consolidated Balance Sheet) (Detail) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
Derivatives, Fair Value [Line Items]	'	'
Asset Derivatives Fair Value	$221.10	$199.80
Liability Derivatives Fair Value	-54.2	-179.3
Designated as Hedging Instrument	'	'
Derivatives, Fair Value [Line Items]	'	'
Asset Derivatives Fair Value	83.1	55.6
Liability Derivatives Fair Value	-48.2	-155.5
Derivatives Not Designated as Hedging Instruments	'	'
Derivatives, Fair Value [Line Items]	'	'
Asset Derivatives Fair Value	138	144.2
Liability Derivatives Fair Value	($6)	($23.80)

Derivatives_Pretax_Amounts_Aff

(Derivatives Pretax Amounts Affecting Income and Other Comprehensive Income) (Detail) (USD $)	9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
Derivatives in Cash Flow Hedging Relationships	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'
Gain(Loss)Reclassified from Accumulated OCI into Income (Effective Portion)	$9	($28.80)
Gain (Loss) Recognized in Accumulated OCI on Derivative (Effective Portion)	50.4	-62.3
Gain (Loss) Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing and Ineffective Portion)	0.7	-7.7
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)	14.8	-31.7
Net Investment Hedging Relationships	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'
Gain(Loss)Reclassified from Accumulated OCI into Income (Effective Portion)	-15.2	0
Gain (Loss) Recognized in Accumulated OCI on Derivative (Effective Portion)	$698.40	($229.80)

Financial_Instruments_and_Hedg3

(Financial Instruments and Hedging Activities - Additional Information) (Detail) (USD $)	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014
		Foreign currency denominated royalties	Cross Currency Swap	Interest Rate Swap	Intercompany Debt [Member]	Debt [Member]	Fair Value Hedging [Member]
							Interest Rate Risk [Member]
Derivative Instruments and Hedging Activities Disclosure [Line Items]	'	'	'	'	'	'	'
Derivative Instruments, Gain (Loss) Recognized in Income, Net	'	'	'	'	'	'	($11,800,000)
Period covered by hedge	'	'19 months	'30 months	'	'	'	'
Derivative, Notional Amount	900,000,000	525,800,000	150,000,000	2,600,000,000	'	'	'
Cumulative deferred hedging gains, after tax, included in accumulated other comprehensive income	24,500,000	'	'	'	'	'	'
Foreign currency denominated debt designated to hedge investments in certain foreign subsidiaries and affiliates	'	'	'	'	$4,000,000,000	$4,800,000,000	'

Segment_Information_Segment_an

Segment Information (Segment and Geographic Information) (Detail) (USD $)	3 Months Ended		9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Revenue, Major Customer [Line Items]	'	'	'	'
Total revenues	$6,987.10	$7,323.40	$20,869.10	$21,012.50
Operating Income	2,072.50	2,416.70	6,197.50	6,563.90
U.S.	'	'	'	'
Revenue, Major Customer [Line Items]	'	'	'	'
Total revenues	2,202.10	2,289	6,505.20	6,659.90
Operating Income	914.4	1,021.70	2,715.70	2,834.30
Europe	'	'	'	'
Revenue, Major Customer [Line Items]	'	'	'	'
Total revenues	2,884.10	2,955.30	8,509.60	8,378.80
Operating Income	926.2	944.4	2,532.30	2,503.30
APMEA	'	'	'	'
Revenue, Major Customer [Line Items]	'	'	'	'
Total revenues	1,530.50	1,683.10	4,813.60	4,866.30
Operating Income	177.9	391.8	871.3	1,128.40
Other Countries & Corporate	'	'	'	'
Revenue, Major Customer [Line Items]	'	'	'	'
Total revenues	370.4	396	1,040.70	1,107.50
Operating Income	$54	$58.80	$78.20	$97.90

Income_Taxes_Details

Income Taxes (Details) (USD $)	3 Months Ended	9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2014	Dec. 31, 2010
Income Taxes [Abstract]	'	'	'
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit	'	'	$640
Effective Income Tax Rate Reconciliation, Percent	44.40%	36.60%	'
Effective Income Tax Rate Reconciliation, Other Adjustments, Percent	'	4.50%	'
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	170	170	'
Unrecognized Tax Benefits	'	$450	'