McDonald's (MCD) 10-K 25 Feb 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2015	Jan. 31, 2016	Jun. 30, 2015
Document Documentand Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Trading Symbol	MCD
Entity Registrant Name	MCDONALDS CORP
Entity Central Index Key	63,908
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		901,607,888
Entity Public Float			$ 89,518,453,614

Consolidated Statement of Incom

Consolidated Statement of Income - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
REVENUES
Sales by Company-operated restaurants	$ 16,488.3	$ 18,169.3	$ 18,874.2
Revenues from franchised restaurants	8,924.7	9,272	9,231.5
Total revenues	25,413	27,441.3	28,105.7
OPERATING COSTS AND EXPENSES
Food & paper	5,552.2	6,129.7	6,361.3
Payroll & employee benefits	4,400	4,756	4,824.1
Occupancy & other operating expenses	4,024.7	4,402.6	4,393.2
Franchised restaurants-occupancy expenses	1,646.9	1,697.3	1,624.4
Selling, general & administrative expenses	2,434.3	2,487.9	2,385.6
Other operating (income) expense, net	209.4	18.6	(247.2)
Total operating costs and expenses	18,267.5	19,492.1	19,341.4
Operating income	7,145.5	7,949.2	8,764.3
Interest expense-net of capitalized interest of $9.4, $14.7 and $15.5	638.3	576.4	527.8
Nonoperating (income) expense, net	(48.5)	0.8	32
Income before provision for income taxes	6,555.7	7,372	8,204.5
Provision for income taxes	2,026.4	2,614.2	2,618.6
Net income	$ 4,529.3	$ 4,757.8	$ 5,585.9
Earnings per common share–basic	$ 4.82	$ 4.85	$ 5.59
Earnings per common share–diluted	4.80	4.82	5.55
Dividends declared per common share	$ 3.44	$ 3.28	$ 3.12
Weighted-average shares outstanding–basic	939.4	980.5	998.4
Weighted-average shares outstanding–diluted	944.6	986.3	1,006

Consolidated Statement of Inco3

Consolidated Statement of Income (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Interest expense, capitalized interest	$ 9.4	$ 14.7	$ 15.5

Consolidated Statement of Compr

Consolidated Statement of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Net income	$ 4,529.3	$ 4,757.8	$ 5,585.9
Foreign currency translation adjustments:
Gain (loss) recognized in accumulated other comprehensive income (AOCI), including net investment hedges	(1,347.4)	(1,971.6)	(279.4)
Reclassification of (gain) loss to net income	1.3	15.2	0
Foreign currency translation adjustments-net of tax benefit (expense) of $(209.8), $(196.0) and $(5.3)	(1,346.1)	(1,956.4)	(279.4)
Cash flow hedges:
Gain (loss) recognized in AOCI	22.2	40.1	(73.4)
Reclassification of (gain) loss to net income	(33.2)	(6.8)	35.9
Cash flow hedges-net of tax benefit (expense) of $6.2, $(18.2) and $11.4	(11)	33.3	(37.5)
Defined benefit pension plans:
Gain (loss) recognized in AOCI	(5.4)	(26.6)	(52.8)
Reclassification of (gain) loss to net income	2.4	2.4	0.9
Defined benefit pension plans-net of tax benefit (expense) of $1.3, $7.7 and $14.2	(3)	(24.2)	(51.9)
Total other comprehensive income (loss), net of tax	(1,360.1)	(1,947.3)	(368.8)
Comprehensive income	$ 3,169.2	$ 2,810.5	$ 5,217.1

Consolidated Statement of Comp5

Consolidated Statement of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Other comprehensive income (loss), foreign currency translation adjustment, tax	$ (209.8)	$ (196)	$ (5.3)
Other comprehensive income (loss), derivatives qualifying as hedges, tax	6.2	(18.2)	11.4
Other comprehensive income (loss), pension and other postretirement benefit plans, tax	$ 1.3	$ 7.7	$ 14.2

Consolidated Balance Sheet

Consolidated Balance Sheet - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Current assets
Cash and equivalents	$ 7,685.5	$ 2,077.9
Accounts and notes receivable	1,298.7	1,214.4
Inventories, at cost, not in excess of market	100.1	110
Prepaid expenses and other current assets	558.7	783.2
Total current assets	9,643	4,185.5
Other assets
Investments in and advances to affiliates	792.7	1,004.5
Goodwill	2,516.3	2,735.3
Miscellaneous	1,869.1	1,744.6
Total other assets	5,178.1	5,484.4
Property and equipment
Property and equipment, at cost	37,692.4	39,126.1
Accumulated depreciation and amortization	(14,574.8)	(14,568.6)
Net property and equipment	23,117.6	24,557.5
Total assets	37,938.7	34,227.4
Current liabilities
Accounts payable	874.7	860.1
Income taxes	154.8	166.8
Other taxes	309	330
Accrued interest	233.1	233.7
Accrued payroll and other liabilities	1,378.8	1,157.3
Total current liabilities	2,950.4	2,747.9
Long-term debt	24,122.1	14,935.7
Other long-term liabilities	2,074	2,065.9
Deferred income taxes	$ 1,704.3	$ 1,624.5
Shareholders’ equity
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	$ 16.6	$ 16.6
Additional paid-in capital	6,533.4	6,239.1
Retained earnings	44,594.5	43,294.5
Accumulated other comprehensive income	(2,879.8)	(1,519.7)
Common stock in treasury, at cost; 753.8 and 697.7 million shares	(41,176.8)	(35,177.1)
Total shareholders’ equity	7,087.9	12,853.4
Total liabilities and shareholders’ equity	$ 37,938.7	$ 34,227.4

Consolidated Balance Sheet (Par

Consolidated Balance Sheet (Parenthetical) - $ / shares	Dec. 31, 2015	Dec. 31, 2014
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	753,800,000	697,700,000

Consolidated Statement of Cash

Consolidated Statement of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Operating activities
Net income	$ 4,529.3	$ 4,757.8	$ 5,585.9
Charges and credits:
Depreciation and amortization	1,555.7	1,644.5	1,585.1
Deferred income taxes	(1.4)	(90.7)	25.2
Share-based compensation	110	112.8	89.1
Other	177.6	369.5	26.8
Changes in working capital items:
Accounts receivable	(180.6)	27	56.2
Inventories, prepaid expenses and other current assets	44.9	(4.9)	(44.4)
Accounts payable	(15)	(74.7)	(60.7)
Income taxes	(64.4)	3.3	(154.4)
Other accrued liabilities	383	(14.3)	11.9
Cash provided by operations	6,539.1	6,730.3	7,120.7
Investing activities
Capital expenditures	(1,813.9)	(2,583.4)	(2,824.7)
Purchases of restaurant businesses	(140.6)	(170.5)	(181)
Sales of restaurant businesses and property	554.2	489.9	440.1
Other	(19.7)	(40.9)	(108.2)
Cash used for investing activities	(1,420)	(2,304.9)	(2,673.8)
Financing activities
Net short-term borrowings	589.7	510.4	(186.5)
Long-term financing issuances	10,220	1,540.6	1,417.2
Long-term financing repayments	(1,054.5)	(548.1)	(695.4)
Treasury stock purchases	(6,099.2)	(3,198.6)	(1,777.8)
Common stock dividends	(3,230.3)	(3,216.1)	(3,114.6)
Proceeds from stock option exercises	317.2	235.4	233.3
Excess tax benefit on share-based compensation	51.1	70.9	92.6
Other	(58.7)	(12.8)	(11.8)
Cash provided by (used for) financing activities	735.3	(4,618.3)	(4,043)
Effect of exchange rates on cash and equivalents	(246.8)	(527.9)	58.7
Cash and equivalents increase (decrease)	5,607.6	(720.8)	462.6
Cash and equivalents at beginning of year	2,077.9	2,798.7	2,336.1
Cash and equivalents at end of year	7,685.5	2,077.9	2,798.7
Supplemental cash flow disclosures
Interest paid	640.8	573.2	532.7
Income taxes paid	$ 1,985.4	$ 2,388.3	$ 2,546

Consolidated Statement of Share

Consolidated Statement of Shareholders Equity - USD ($) shares in Millions, $ in Millions	Total	Common stock issued	Additional paid-in capital	Retained earnings	Pensions	Cash flow hedges	Foreign currency translation	Common stock in treasury
Beginning Balance (in shares) at Dec. 31, 2012		1,660.6						(657.9)
Beginning Balance at Dec. 31, 2012	$ 15,293.6	$ 16.6	$ 5,778.9	$ 39,278	$ (90.8)	$ 35.2	$ 852	$ (30,576.3)
Net income	5,585.9			5,585.9
Other comprehensive income (loss), net of tax	(368.8)				(51.9)	(37.5)	(279.4)
Comprehensive income	5,217.1
Common stock cash dividends	(3,114.6)			(3,114.6)
Treasury stock purchases (in shares)								(18.7)
Treasury stock purchases	(1,810.5)							$ (1,810.5)
Share-based compensation	89.1		89.1
Stock option exercises and other (including tax benefits of $93.6m in 2013, $70.2m in 2014, $44.8m in 2015) (in shares)								6.4
Stock option exercises and other (including tax benefits of $93.6m in 2013, $70.2m in 2014, $44.8m in 2015)	335		126.1	1.9				$ 207
Ending Balance (in shares) at Dec. 31, 2013		1,660.6						(670.2)
Ending Balance at Dec. 31, 2013	16,009.7	$ 16.6	5,994.1	41,751.2	(142.7)	(2.3)	572.6	$ (32,179.8)
Net income	4,757.8			4,757.8
Other comprehensive income (loss), net of tax	(1,947.3)				(24.2)	33.3	(1,956.4)
Comprehensive income	2,810.5
Common stock cash dividends	(3,216.1)			(3,216.1)
Treasury stock purchases (in shares)								(33.1)
Treasury stock purchases	(3,175.3)							$ (3,175.3)
Share-based compensation	112.8		112.8
Stock option exercises and other (including tax benefits of $93.6m in 2013, $70.2m in 2014, $44.8m in 2015) (in shares)								5.6
Stock option exercises and other (including tax benefits of $93.6m in 2013, $70.2m in 2014, $44.8m in 2015)	311.8		132.2	1.6				$ 178
Ending Balance (in shares) at Dec. 31, 2014		1,660.6						(697.7)
Ending Balance at Dec. 31, 2014	12,853.4	$ 16.6	6,239.1	43,294.5	(166.9)	31	(1,383.8)	$ (35,177.1)
Net income	4,529.3			4,529.3
Other comprehensive income (loss), net of tax	(1,360.1)				(3)	(11)	(1,346.1)
Comprehensive income	3,169.2
Common stock cash dividends	(3,230.3)			(3,230.3)
Treasury stock purchases (in shares)								(61.8)
Treasury stock purchases	(6,182.2)							$ (6,182.2)
Share-based compensation	110		110
Stock option exercises and other (including tax benefits of $93.6m in 2013, $70.2m in 2014, $44.8m in 2015) (in shares)								5.7
Stock option exercises and other (including tax benefits of $93.6m in 2013, $70.2m in 2014, $44.8m in 2015)	367.8		184.3	1				$ 182.5
Ending Balance (in shares) at Dec. 31, 2015		1,660.6						(753.8)
Ending Balance at Dec. 31, 2015	$ 7,087.9	$ 16.6	$ 6,533.4	$ 44,594.5	$ (169.9)	$ 20	$ (2,729.9)	$ (41,176.8)

Consolidated Statement of Sha10

Consolidated Statement of Shareholders Equity (Parenthetical) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Sep. 30, 2014	[1]	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Common stock cash dividends (in dollars per share)	$ 0.89	$ 0.85	$ 0.85	$ 0.85	$ 1.66		$ 0.81	$ 0.81	$ 3.44	$ 3.28	$ 3.12
Stock option exercises and other, tax benefits									$ (44.8)	$ (70.2)	$ (93.6)
[1]	Includes a $0.81 per share dividend declared and paid in third quarter and a $0.85 per share dividend declared in third quarter and paid in fourth quarter.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies NATURE OF BUSINESS The Company franchises and operates McDonald’s restaurants in the global restaurant industry. All restaurants are operated either by the Company or by franchisees, including conventional franchisees under franchise arrangements, and foreign affiliates and developmental licensees under license agreements. The following table presents restaurant information by ownership type: Restaurants at December 31, 2015 2014 2013 Conventional franchised 21,147 20,774 20,355 Developmental licensed 5,529 5,228 4,747 Foreign affiliated 3,405 3,542 3,589 Franchised 30,081 29,544 28,691 Company-operated 6,444 6,714 6,738 Systemwide restaurants 36,525 36,258 35,429 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 consolidated financial statements for periods prior to purchase and sale. CONSOLIDATION The consolidated financial statements include the accounts of the Company and its subsidiaries. Investments in affiliates owned 50% or less (primarily McDonald’s Japan) are accounted for by the equity method. On an ongoing basis, the Company evaluates its business relationships such as those with franchisees, joint venture partners, developmental licensees, suppliers, and advertising cooperatives to identify potential variable interest entities. Generally, these businesses qualify for a scope exception under the variable interest entity consolidation guidance. The Company has concluded that consolidation of any such entity is not appropriate for the periods presented. ESTIMATES IN FINANCIAL STATEMENTS The preparation of financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. RECENTLY ISSUED ACCOUNTING STANDARDS Simplifying the Presentation of Debt Issuance Costs For the annual reporting period ended December 31, 2015, the Company early adopted the Accounting Standards Update ("ASU") 2015-03, "Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs." This update requires that debt issuance costs be recorded in the balance sheet as a direct reduction of the debt liability rather than as an asset, and the amortization of debt issuance costs be recorded as interest expense. As a result of adopting this update, we have reclassified $54.0 million of debt issuance costs from "Miscellaneous other assets" to "Long-term debt" for December 31, 2014. In addition, we have reclassified $5.9 million from "Nonoperating (income) expense, net" to "Interest expense, net" for the years ending December 31, 2014 and 2013. Balance Sheet Reclassification of Deferred Taxes For the annual reporting period ended December 31, 2015, the Company early adopted ASU 2015-17, "Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes." This update requires that all deferred tax assets and liabilities be presented as non-current on the Balance Sheet. The Company has not retrospectively adjusted prior periods as amounts were immaterial. REVENUE RECOGNITION The Company’s revenues consist of sales by Company-operated restaurants and fees from franchised restaurants operated by conventional franchisees, developmental licensees and foreign affiliates. Sales by Company-operated restaurants are recognized on a cash basis. The Company presents sales net of sales tax and other sales-related taxes. Revenues from conventional franchised restaurants include rent and royalties based on a percent of sales with minimum rent payments, and initial fees. Revenues from restaurants licensed to foreign affiliates and developmental licensees include a royalty based on a percent of sales, and may include initial fees. Continuing rent and royalties are recognized in the period earned. Initial fees are recognized upon opening of a restaurant or granting of a new franchise term, which is when the Company has performed substantially all initial services required by the franchise arrangement. In May 2014, the Financial Accounting Standards Board ("FASB") issued guidance codified in Accounting Standards Codification ("ASC") 606, "Revenue Recognition - Revenue from Contracts with Customers," which amends the guidance in ASC 605, "Revenue Recognition." In July 2015, the FASB made a decision to defer by one year the effective date of its new standard to January 1, 2018, although early adoption is permitted as of January 1, 2017. The new standard allows for either a full retrospective or modified retrospective transition approach. The Company does not believe that the standard will impact its recognition of revenue from company-operated restaurants or its recognition of royalties from restaurants operated by franchisees or licensed to affiliates and developmental licensees, which are based on a percent of sales. The Company is continuing to evaluate the impact the adoption of this standard will have on the recognition of other less significant revenue transactions, such as initial fees from franchisees for new restaurant openings or new franchise terms. FOREIGN CURRENCY TRANSLATION Generally, the functional currency of operations outside the U.S. is the respective local currency. ADVERTISING COSTS Advertising costs included in operating expenses of Company-operated restaurants primarily consist of contributions to advertising cooperatives and were (in millions): 2015 – $718.7 ; 2014 – $808.2 ; 2013 – $808.4 . Production costs for radio and television advertising are expensed when the commercials are initially aired. These production costs, primarily in the U.S., as well as other marketing-related expenses included in Selling, general & administrative expenses were (in millions): 2015 – $113.8 ; 2014 – $98.7 ; 2013 – $75.4 . Costs related to the Olympics sponsorship are included in these expenses for 2014. In addition, significant advertising costs are incurred by franchisees through contributions to advertising cooperatives in individual markets. SHARE-BASED COMPENSATION Share-based compensation includes the portion vesting of all share-based awards granted based on the grant date fair value. Share-based compensation expense and the effect on diluted earnings per common share were as follows: In millions, except per share data 2015 2014 2013 Share-based compensation expense $ 110.0 $ 112.8 $ 89.1 After tax $ 76.0 $ 72.8 $ 60.6 Earnings per common share-diluted $ 0.08 $ 0.08 $ 0.06 Compensation expense related to share-based awards is generally amortized on a straight-line basis over the vesting period in Selling, general & administrative expenses. As of December 31, 2015 , there was $98.8 million of total unrecognized compensation cost related to nonvested share-based compensation that is expected to be recognized over a weighted-average period of 2.0 years. The fair value of each stock option granted is estimated on the date of grant using a closed-form pricing model. The following table presents the weighted-average assumptions used in the option pricing model for the 2015 , 2014 and 2013 stock option grants. The expected life of the options represents the period of time the options are expected to be outstanding and is based on historical trends. Expected stock price volatility is generally based on the historical volatility of the Company’s stock for a period approximating the expected life. The expected dividend yield is based on the Company’s most recent annual dividend rate. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant with a term equal to the expected life. Weighted-average assumptions 2015 2014 2013 Expected dividend yield 3.6 % 3.3 % 3.5 % Expected stock price volatility 18.8 % 20.0 % 20.6 % Risk-free interest rate 1.7 % 2.0 % 1.2 % Expected life of options (in years) 6.0 6.1 6.1 Fair value per option granted $ 10.43 $ 12.23 $ 11.09 PROPERTY AND EQUIPMENT Property and equipment are stated at cost, with depreciation and amortization provided using the straight-line method over the following estimated useful lives: buildings–up to 40 years; leasehold improvements– the lesser of useful lives of assets or lease terms , which generally include certain option periods; and equipment– three to 12 years. LONG-LIVED ASSETS Long-lived assets are reviewed for impairment annually in the fourth quarter and whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. For purposes of annually reviewing McDonald’s restaurant assets for potential impairment, assets are initially grouped together in the U.S. at a television market level, and internationally, at a country level. The Company manages its restaurants as a group or portfolio with significant common costs and promotional activities; as such, an individual restaurant’s cash flows are not generally independent of the cash flows of others in a market. If an indicator of impairment exists for any grouping of assets, an estimate of undiscounted future cash flows produced by each individual restaurant within the asset grouping is compared to its carrying value. If an individual restaurant is determined to be impaired, the loss is measured by the excess of the carrying amount of the restaurant over its fair value as determined by an estimate of discounted future cash flows. Losses on assets held for disposal are recognized when management and the Board of Directors, as required, have approved and committed to a plan to dispose of the assets, the assets are available for disposal and the disposal is probable of occurring within 12 months, and the net sales proceeds are expected to be less than its net book value, among other factors. Generally, such losses related to restaurants that have closed and ceased operations as well as other assets that meet the criteria to be considered “available for sale." GOODWILL Goodwill represents the excess of cost over the net tangible assets and identifiable intangible assets of acquired restaurant businesses. The Company's goodwill primarily results from purchases of McDonald's restaurants from franchisees and ownership increases in subsidiaries or affiliates, and it is generally assigned to the reporting unit (defined as each individual country) expected to benefit from the synergies of the combination. If a Company-operated restaurant is sold within 24 months of acquisition, the goodwill associated with the acquisition is written off in its entirety. If a restaurant is sold beyond 24 months from the acquisition, the amount of goodwill written off is based on the relative fair value of the business sold compared to the reporting unit. The following table presents the 2015 activity in goodwill by segment: In millions U.S. International Lead Markets High Growth Markets Foundational Markets & Corporate Consolidated Balance at December 31, 2014 $ 1,295.8 $ 777.3 $ 352.2 $ 310.0 $ 2,735.3 Net restaurant purchases (sales) (2.4 ) 9.4 0.8 3.8 11.6 Impairment losses 0.0 0.0 0.0 (80.4 ) (80.4 ) Currency translation (88.6 ) (30.6 ) (31.0 ) (150.2 ) Balance at December 31, 2015 $ 1,293.4 $ 698.1 $ 322.4 $ 202.4 $ 2,516.3 The Company conducts goodwill impairment testing in the fourth quarter of each year or whenever an indicator of impairment exists. If an indicator of impairment exists (e.g., estimated earnings multiple value of a reporting unit is less than its carrying value), the goodwill impairment test compares the fair value of a reporting unit, generally based on discounted future cash flows, with its carrying amount including goodwill. If the carrying amount of a reporting unit exceeds its fair value, an impairment loss is measured as the difference between the implied fair value of the reporting unit's goodwill and the carrying amount of goodwill. Historically, goodwill impairment has not significantly impacted the consolidated financial statements. Accumulated impairment losses at December 31, 2015 and 2014 were $94.1 million and $13.7 million , respectively. In connection with the Company's global restructuring, the Company evaluated the change to its new reporting segments and determined that it is still appropriate for reporting units to be defined as each individual country when testing goodwill for impairment. FAIR VALUE MEASUREMENTS The Company measures certain financial assets and liabilities at fair value on a recurring basis, and certain non-financial assets and liabilities on a nonrecurring basis. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market in an orderly transaction between market participants on the measurement date. Fair value disclosures are reflected in a three-level hierarchy, maximizing the use of observable inputs and minimizing the use of unobservable inputs. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability on the measurement date. The three levels are defined as follows: ▪ Level 1 – inputs to the valuation methodology are quoted prices (unadjusted) for an identical asset or liability in an active market. ▪ Level 2 – inputs to the valuation methodology include quoted prices for a similar asset or liability in an active market or model-derived valuations in which all significant inputs are observable for substantially the full term of the asset or liability. ▪ Level 3 – inputs to the valuation methodology are unobservable and significant to the fair value measurement of the asset or liability. Certain of the Company’s derivatives are valued using various pricing models or discounted cash flow analyses that incorporate observable market parameters, such as interest rate yield curves, option volatilities and currency rates, classified as Level 2 within the valuation hierarchy. Derivative valuations incorporate credit risk adjustments that are necessary to reflect the probability of default by the counterparty or the Company. ▪ Certain Financial Assets and Liabilities Measured at Fair Value The following tables present financial assets and liabilities measured at fair value on a recurring basis by the valuation hierarchy as defined in the fair value guidance: December 31, 2015 In millions Level 1* Level 2 Carrying Value Derivative assets $ 139.9 $ 65.4 $ 205.3 Derivative liabilities $ (44.4 ) $ (44.4 ) December 31, 2014 In millions Level 1* Level 2 Carrying Value Derivative assets $ 115.9 $ 130.2 $ 246.1 Derivative liabilities $ (50.2 ) $ (50.2 ) * Level 1 is comprised of derivatives that hedge market driven changes in liabilities associated with the Company’s supplemental benefit plans. ▪ Non-Financial Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis Certain assets and liabilities are measured at fair value on a nonrecurring basis; that is, the assets and liabilities are not measured at fair value on an ongoing basis, but are subject to fair value adjustments in certain circumstances (e.g., when there is evidence of impairment). For the year ended December 31, 2015 , the Company recorded fair value adjustments to its long-lived assets, primarily to goodwill, based on Level 3 inputs which includes the use of a discounted cash flow valuation approach. ▪ Certain Financial Assets and Liabilities not Measured at Fair Value At December 31, 2015 , the fair value of the Company’s debt obligations was estimated at $24.9 billion , compared to a carrying amount of $24.1 billion . The fair value was based on quoted market prices, Level 2 within the valuation hierarchy. The carrying amount for both cash equivalents and notes receivable approximate fair value. 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 Company documents its risk management objective and strategy for undertaking hedging transactions, as well as all relationships between hedging instruments and hedged items. The Company’s derivatives that are designated for hedge accounting consist mainly of interest rate swaps, foreign currency forwards, foreign currency options, and cross-currency swaps, and are classified as either fair value, cash flow or net investment hedges. Further details are explained in the "Fair Value," "Cash Flow" and "Net Investment" hedge sections. The Company also enters into certain derivatives that are not designated for hedge accounting. The Company has entered into equity derivative contracts, including total return swaps, to hedge market-driven changes in certain of its supplemental benefit plan liabilities. In addition, the Company uses foreign currency forwards to mitigate the change in fair value of certain foreign currency denominated assets and liabilities. Further details are explained in the “Undesignated Derivatives” section. All derivatives (including those not designated for hedge accounting) are recognized on the Consolidated balance sheet at fair value and classified based on the instruments’ maturity dates. Changes in the fair value measurements of the derivative instruments are reflected as adjustments to accumulated other comprehensive income ("AOCI") and/or current earnings. The following table presents the fair values of derivative instruments included on the Consolidated balance sheet as of December 31, 2015 and 2014 : Derivative Assets Derivative Liabilities In millions Balance Sheet Classification 2015 2014 Balance Sheet Classification 2015 2014 Derivatives designated as hedging instruments Foreign currency Prepaid expenses and other current assets $ 55.0 $ 80.5 Accrued payroll and other liabilities $ (22.5 ) $ (0.2 ) Interest rate Prepaid expenses and other current assets 0.0 2.6 Foreign currency Miscellaneous other assets 0.6 15.5 Other long-term liabilities (13.0 ) (34.6 ) Interest rate Miscellaneous other assets 5.3 9.6 Other long-term liabilities (3.4 ) (7.5 ) Total derivatives designated as hedging instruments $ 60.9 $ 108.2 $ (38.9 ) $ (42.3 ) Derivatives not designated as hedging instruments Equity Prepaid expenses and other current assets $ 0.3 $ 120.6 Foreign currency Prepaid expenses and other current assets 4.2 17.3 Accrued payroll and other liabilities $ (5.5 ) $ (7.9 ) Equity Miscellaneous other assets 139.9 0.0 Total derivatives not designated as hedging instruments $ 144.4 $ 137.9 $ (5.5 ) $ (7.9 ) Total derivatives $ 205.3 $ 246.1 $ (44.4 ) $ (50.2 ) Fair Value Hedges The Company enters into fair value hedges to reduce the exposure to changes in the fair values of certain liabilities. The Company's fair value hedges convert a portion of its fixed-rate debt into floating-rate debt by use of interest rate swaps. At December 31, 2015 , $2.2 billion of the Company's outstanding fixed-rate debt was effectively converted. All of the Company’s interest rate swaps meet the shortcut method requirements. Accordingly, changes in the fair value of the interest rate swaps are exactly offset by changes in the fair value of the underlying debt. No ineffectiveness has been recorded to net income related to interest rate swaps designated as fair value hedges for the year ended December 31, 2015. Derivatives in Hedging Relationships Gain (Loss) Recognized In Earnings on Hedging Derivative Gain (Loss) Recognized In Earnings on Hedged Items In millions 2015 2014 2015 2014 Interest rate $ (3.4 ) $ (8.1 ) $ 3.4 $ 8.1 Cash Flow Hedges The Company enters into cash flow hedges to reduce the exposure to variability in certain expected future cash flows. The types of cash flow hedges the Company enters into include interest rate swaps, foreign currency forwards, foreign currency options and cross currency swaps. The effective portion of the change in fair value of the derivatives are reported as a component of AOCI and reclassified into earnings in the same period in which the hedged transaction affects earnings. The Company excludes the time value of foreign currency options from its effectiveness assessment. As a result, changes in the fair value of the derivatives due to this component, as well as the ineffectiveness of the hedges, are recognized immediately in earnings. Gain (Loss) Recognized in AOCI (Effective Portion) Gain (Loss) Reclassified From AOCI Into Earnings (Effective Portion) Gain (Loss) Recognized in Earnings (Amount Excluded from Effectiveness Testing and Ineffective Portion) Derivatives in Hedging Relationships In millions 2015 2014 2015 2014 2015 2014 Foreign currency $ 35.3 $ 62.0 $ 53.0 $ 11.0 $ 22.9 $ 9.5 Interest rate (1) 0.0 0.0 (0.5 ) (0.5 ) 0.0 0.0 $ 35.3 $ 62.0 $ 52.5 $ 10.5 $ 22.9 $ 9.5 (1) The amount of gain (loss) reclassified from AOCI into earnings is recorded in interest expense . The Company periodically uses interest rate swaps to effectively convert a portion of floating-rate debt, including forecasted debt issuances, into fixed-rate debt. The agreements are intended to reduce the impact of interest rate changes on future interest expense. 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. When the U.S. dollar strengthens against foreign currencies, the decline in value of future foreign denominated royalties is offset by gains in the fair value of the foreign currency forwards and/or foreign currency options. Conversely, when the U.S. dollar weakens, the increase in the value of future foreign denominated royalties is offset by losses in the fair value of the foreign currency forwards and/or foreign currency options. Although the fair value changes in the foreign currency options may fluctuate over the period of the contract, the Company’s total loss on a foreign currency option is limited to the upfront premium paid for the contract; however, the potential gains on a foreign currency option are unlimited. The hedges cover the next 16 months for certain exposures and are denominated in various currencies. As of December 31, 2015 , the Company had derivatives outstanding with an equivalent notional amount of $373.6 million that were used to hedge 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. The hedges cover periods up to 15 months and have an equivalent notional amount of $134.7 million . The Company recorded after tax adjustments to the cash flow hedging component of AOCI in shareholders’ equity. The Company recorded a decrease of $11.0 million for the year ended December 31, 2015 and a net increase of $33.3 million for the year ended December 31, 2014 . Based on interest rates and foreign exchange rates at December 31, 2015 , there is $20.0 million in after-tax cumulative cash flow hedging gains which 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 the foreign currency translation component of AOCI, as well as the offset translation adjustments on the underlying net assets of foreign subsidiaries and affiliates. The cumulative translation gains or losses will remain in AOCI until the foreign subsidiaries and affiliates are liquidated or sold. As of December 31, 2015 , $6.2 billion of third party foreign currency denominated debt, $3.4 billion of intercompany foreign currency denominated debt, and $287.8 million of derivatives were designated to hedge investments in certain foreign subsidiaries and affiliates. Derivatives in Hedging Relationships Gain (Loss) Recognized in AOCI (Effective Portion) In millions 2015 2014 Foreign currency denominated debt $ 668.1 $ 954.6 Foreign currency derivatives 79.1 126.6 $ 747.2 $ 1,081.2 Undesignated Derivatives The Company enters into certain derivatives that are not designated for hedge accounting, therefore the changes in the fair value of these derivatives are recognized immediately in earnings together with the gain or loss from the hedged balance sheet position. As an example, the Company enters into equity derivative contracts, including total return swaps, to hedge market-driven changes in certain of its supplemental benefit plan liabilities. Changes in the fair value of these derivatives are recorded in Selling, general & administrative expenses together with the changes in the supplemental benefit plan liabilities. In addition, the Company uses foreign currency forwards to mitigate the change in fair value of certain foreign currency denominated assets and liabilities. The changes in the fair value of these derivatives are recognized in Nonoperating (income) expense, net, along with the currency gain or loss from the hedged balance sheet position. Derivatives Not Designated for Hedge Accounting Gain (Loss) Recognized in Earnings In millions 2015 2014 Foreign currency $ 14.6 $ 10.4 Equity 38.9 23.5 $ 53.5 $ 33.9 Credit Risk The Company is exposed to credit-related losses in the event of non-performance by the counterparties to its hedging instruments. The counterparties to these agreements consist of a diverse group of financial institutions and market participants. The Company continually monitors its positions and the credit ratings of its counterparties and adjusts positions as appropriate. The Company did not have significant exposure to any individual counterparty at December 31, 2015 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, even for counterparties subject to netting arrangements. Some of these agreements also require each party to post collateral if credit ratings fall below, or aggregate exposures exceed, certain contractual limits. At December 31, 2015 , the Company was required to post an immaterial amount of collateral due to certain derivatives having negative positions. The Company's counterparties were not required to post collateral on any derivative position, other than on hedges of certain of the Company’s supplemental benefit plan liabilities where the counterparties were required to post collateral on their liability positions. INCOME TAX UNCERTAINTIES The Company, like other multi-national companies, is regularly audited by federal, state and foreign tax authorities, and tax assessments may arise several years after tax returns have been filed. Accordingly, tax liabilities are recorded when, in management’s judgment, a tax position does not meet the more likely than not threshold for recognition. For tax positions that meet the more likely than not threshold, a tax liability may still be recorded depending on management’s assessment of how the tax position will ultimately be settled. The Company records interest and penalties on unrecognized tax benefits in the provision for income taxes. 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 (in millions of shares): 2015 – 5.2 ; 2014 – 5.8 ; 2013 – 7.6 . Stock options that were not included in diluted weighted-average shares because they would have been antidilutive were (in millions of shares): 2015 – 1.0 ; 2014 – 5.3 ; 2013 – 4.7 . In the first quarter of 2016, the Company paid $2.7 billion under an Accelerated Share Repurchase agreement and received an initial delivery of 18.5 million shares, which represents 80% of the total shares the Company expects to receive based on the market price at the time of initial delivery. The final number of shares delivered upon settlement of the agreement, between April 1, 2016 and May 13, 2016, will be determined with reference to the volume weighted average price per share of the Company's common stock over the term of the agreement, less a negotiated discount. The transaction is accounted for as an equity transaction and is included in Treasury stock when the shares are received, at which time there is an immediate reduction in the weighted average common shares calculation for basic and diluted earnings per share. CASH AND EQUIVALENTS The Company considers short-term, highly liquid investments with an original maturity of 90 days or less to be cash equivalents. SUBSEQUENT EVENTS The Company evaluated subsequent events through the date the financial statements were issued and filed with the U.S. Securities and Exchange Commission ("SEC"). There were no subsequent events that required recognition or disclosure.

Property and Equipment

Property and Equipment	12 Months Ended
	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment Net property and equipment consisted of: In millions December 31, 2015 2014 Land $ 5,582.5 $ 5,788.4 Buildings and improvements on owned land 14,011.7 14,322.4 Buildings and improvements on leased land 12,892.9 13,284.0 Equipment, signs and seating 4,658.5 5,113.8 Other 546.8 617.5 37,692.4 39,126.1 Accumulated depreciation and amortization (14,574.8 ) (14,568.6 ) Net property and equipment $ 23,117.6 $ 24,557.5 Depreciation and amortization expense for property and equipment was (in millions): 2015 – $1,438.0 ; 2014 – $1,539.3 ; 2013 – $1,498.8 .

Other Operating (Income) Expens

Other Operating (Income) Expense, Net	12 Months Ended
	Dec. 31, 2015
Other Income and Expenses [Abstract]
Other Operating (Income) Expense, Net	Other Operating (Income) Expense, Net In millions 2015 2014 2013 Gains on sales of restaurant businesses $ (145.9 ) $ (137.4 ) $ (199.4 ) Equity in (earnings) losses of unconsolidated affiliates 146.8 8.9 (78.2 ) Asset dispositions and other (income) expense, net (26.6 ) 108.2 30.4 Impairment and other charges 235.1 38.9 0.0 Total $ 209.4 $ 18.6 $ (247.2 ) ▪ Gains on sales of restaurant businesses The Company’s purchases and sales of businesses with its franchisees are aimed at achieving an optimal ownership mix in each market. Resulting gains or losses on sales of restaurant businesses are recorded in operating income because these transactions are a recurring part of our business. ▪ Equity in (earnings) losses of unconsolidated affiliates Unconsolidated affiliates and partnerships are businesses in which the Company actively participates but does not control. The Company records equity in (earnings) losses from these entities representing McDonald’s share of results. For foreign affiliated markets—primarily Japan—results are reported after interest expense and income taxes. ▪ Asset dispositions and other (income) expense, net Asset dispositions and other (income) expense, net consists of gains or losses on excess property and other asset dispositions, provisions for restaurant closings and uncollectible receivables, asset write-offs due to restaurant reinvestment, and other miscellaneous income and expenses. ▪ Impairment and other charges Impairment and other charges include the losses that result from the write down of goodwill and long-lived assets from their carrying value to their fair value. In addition, these charges include costs associated with strategic initiatives, such as refranchising and restructuring activities.

Contingencies

Contingencies	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Contingencies In the ordinary course of business, the Company is subject to proceedings, lawsuits and other claims primarily related to competitors, customers, employees, franchisees, government agencies, intellectual property, shareholders and suppliers. The Company is required to assess the likelihood of any adverse judgments or outcomes to these matters as well as potential ranges of probable losses. A determination of the amount of accrual required, if any, for these contingencies is made after careful analysis of each matter. The required accrual may change in the future due to new developments in each matter or changes in approach such as a change in settlement strategy in dealing with these matters. The Company does not believe that any such matter currently being reviewed will have a material adverse effect on its financial condition or results of operations.

Franchise Arrangements

Franchise Arrangements	12 Months Ended
	Dec. 31, 2015
Disclosure Franchise Arrangements Additional Information [Abstract]
Franchise Arrangements	Franchise Arrangements Conventional franchise arrangements generally include a lease and a license and provide for payment of initial fees, as well as continuing rent and royalties to the Company based upon a percent of sales with minimum rent payments that parallel the Company’s underlying leases and escalations (on properties that are leased). Under this arrangement, franchisees are granted the right to operate a restaurant using the McDonald’s System and, in most cases, the use of a restaurant facility, generally for a period of 20 years . These franchisees pay related occupancy costs including property taxes, insurance and maintenance. Affiliates and developmental licensees operating under license agreements pay a royalty to the Company based upon a percent of sales, and may pay initial fees. Revenues from franchised restaurants consisted of: In millions 2015 2014 2013 Rents $ 5,860.6 $ 6,106.7 $ 6,054.4 Royalties 2,980.7 3,085.1 3,100.4 Initial fees 83.4 80.2 76.7 Revenues from franchised restaurants $ 8,924.7 $ 9,272.0 $ 9,231.5 Future gross minimum rent payments due to the Company under existing franchise arrangements are: In millions Owned sites Leased sites Total 2016 $ 1,293.0 $ 1,334.9 $ 2,627.9 2017 1,245.2 1,288.4 2,533.6 2018 1,211.7 1,237.2 2,448.9 2019 1,176.8 1,178.5 2,355.3 2020 1,136.0 1,104.4 2,240.4 Thereafter 9,714.9 8,418.3 18,133.2 Total minimum payments $ 15,777.6 $ 14,561.7 $ 30,339.3 At December 31, 2015 , net property and equipment under franchise arrangements totaled $14.9 billion (including land of $4.4 billion ) after deducting accumulated depreciation and amortization of $8.4 billion .

Leasing Arrangements

Leasing Arrangements	12 Months Ended
	Dec. 31, 2015
Leases [Abstract]
Leasing Arrangements	Leasing Arrangements At December 31, 2015 , the Company was the lessee at 15,115 restaurant locations through ground leases (the Company leases the land and the Company or franchisee owns the building) and through improved leases (the Company leases land and buildings). Lease terms for most restaurants, where market conditions allow, are generally for 20 years and, in many cases, provide for rent escalations and renewal options, with certain leases providing purchase options. Escalation terms vary by market with examples including fixed-rent escalations, escalations based on an inflation index, and fair-value market adjustments. The timing of these escalations generally ranges from annually to every five years. For most locations, the Company is obligated for the related occupancy costs including property taxes, insurance and maintenance; however, for franchised sites, the Company requires the franchisees to pay these costs. In addition, the Company is the lessee under non-cancelable leases covering certain offices and vehicles. The following table provides detail of rent expense: In millions 2015 2014 2013 Company-operated restaurants: U.S. $ 59.2 $ 61.3 $ 61.6 Outside the U.S. 652.7 708.3 713.4 Total 711.9 769.6 775.0 Franchised restaurants: U.S. 463.7 446.3 441.6 Outside the U.S. 565.0 610.1 572.0 Total 1,028.7 1,056.4 1,013.6 Other 98.4 106.3 104.0 Total rent expense $ 1,839.0 $ 1,932.3 $ 1,892.6 Rent expense included percent rents in excess of minimum rents (in millions) as follows–Company-operated restaurants: 2015 – $146.6 ; 2014 – $164.2 ; 2013 – $175.6 . Franchised restaurants: 2015 – $178.8 ; 2014 – $182.8 ; 2013 – $187.4 . Future minimum payments required under existing operating leases with initial terms of one year or more are: In millions Restaurant Other Total 2016 $ 1,274.0 $ 75.9 $ 1,349.9 2017 1,171.5 63.6 1,235.1 2018 1,058.5 54.0 1,112.5 2019 955.9 45.2 1,001.1 2020 858.4 36.4 894.8 Thereafter 6,783.5 137.9 6,921.4 Total minimum payments $ 12,101.8 $ 413.0 $ 12,514.8

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Income before provision for income taxes, classified by source of income, was as follows: In millions 2015 2014 2013 U.S. $ 2,597.8 $ 2,681.9 $ 2,912.7 Outside the U.S. 3,957.9 4,690.1 5,291.8 Income before provision for income taxes $ 6,555.7 $ 7,372.0 $ 8,204.5 The provision for income taxes, classified by the timing and location of payment, was as follows: In millions 2015 2014 2013 U.S. federal $ 1,072.3 $ 1,124.8 $ 1,238.2 U.S. state 139.5 148.4 175.0 Outside the U.S. 816.0 1,431.7 1,180.2 Current tax provision 2,027.8 2,704.9 2,593.4 U.S. federal 6.8 (81.8 ) 46.2 U.S. state (3.9 ) (6.2 ) (6.7 ) Outside the U.S. (4.3 ) (2.7 ) (14.3 ) Deferred tax provision (1.4 ) (90.7 ) 25.2 Provision for income taxes $ 2,026.4 $ 2,614.2 $ 2,618.6 Net deferred tax liabilities consisted of: In millions December 31, 2015 2014 Property and equipment $ 1,751.7 $ 1,754.6 Intangibles and other 1,188.8 907.0 Total deferred tax liabilities 2,940.5 2,661.6 Property and equipment (472.7 ) (394.4 ) Employee benefit plans (390.1 ) (400.3 ) Intangible assets (222.6 ) (252.2 ) Deferred foreign tax credits (289.2 ) (272.9 ) Operating loss carryforwards (419.8 ) (286.5 ) Other (297.0 ) (331.2 ) Total deferred tax assets before valuation allowance (2,091.4 ) (1,937.5 ) Valuation allowance 322.4 287.9 Net deferred tax liabilities $ 1,171.5 $ 1,012.0 Balance sheet presentation: Deferred income taxes $ 1,704.3 $ 1,624.5 Other assets-miscellaneous (532.8 ) (591.2 ) Current assets-prepaid expenses and other current assets 0.0 (21.3 ) Net deferred tax liabilities $ 1,171.5 $ 1,012.0 At December 31, 2015, the Company had net operating loss carryforwards of $1.5 billion , of which $1.2 billion has an indefinite carryforward. The remainder will expire at various dates from 2016 to 2031. The Company's effective income tax rate is typically lower than the U.S. statutory tax rate primarily because non-U.S. income is generally subject to local statutory country tax rates that are below the 35% U.S. statutory tax rate and reflect the impact of global transfer pricing. The statutory U.S. federal income tax rate reconciles to the effective income tax rates as follows: 2015 2014 2013 Statutory U.S. federal income tax rate 35.0 % 35.0 % 35.0 % State income taxes, net of related federal income tax benefit 1.6 1.6 1.3 Foreign income taxed at different rates (4.9 ) (4.8 ) (5.1 ) Taxes related to unfavorable lower tax court ruling and audit progression in foreign tax jurisdictions 0.0 4.1 0.0 Cash repatriation (2.3 ) (1.2 ) (0.5 ) Other, net 1.5 0.8 1.2 Effective income tax rates 30.9 % 35.5 % 31.9 % As of December 31, 2015 and 2014 , the Company’s gross unrecognized tax benefits totaled $781.2 million and $988.1 million , respectively. After considering the deferred tax accounting impact, it is expected that about $470 million of the total as of December 31, 2015 would favorably affect the effective tax rate if resolved in the Company’s favor. The following table presents a reconciliation of the beginning and ending amounts of unrecognized tax benefits: In millions 2015 2014 Balance at January 1 $ 988.1 $ 512.7 Decreases for positions taken in prior years (49.9 ) (19.5 ) Increases for positions taken in prior years 30.5 504.7 Increases for positions related to the current year 83.7 80.7 Settlements with taxing authorities (258.0 ) (78.0 ) Lapsing of statutes of limitations (13.2 ) (12.5 ) Balance at December 31 (1) $ 781.2 $ 988.1 (1) Of this amount, $704.0 million and $909.0 million are included in Other long-term liabilities for 2015 and 2014 , respectively, and $21.9 million and $19.5 million are included in Current liabilities - income taxes for 2015 and 2014, respectively, on the Consolidated balance sheet. The remainder is included in Deferred income taxes on the Consolidated balance sheet. In 2014, the Internal Revenue Service ("IRS") concluded its field examination of the Company's 2009 and 2010 U.S. federal income tax returns. In connection with this examination, the Company agreed to certain adjustments that had been proposed by the IRS and appropriately accounted for these adjustments in accordance with ASC 740. In early 2015, the IRS issued a Revenue Agent Report for these agreed adjustments,and the balance of unrecognized tax benefits was reduced accordingly. Also in connection with this examination, in 2014 the Company received notices of proposed adjustments ("NOPAs") related to certain transfer pricing matters. The Company disagrees with the IRS' proposed adjustments and filed a protest with the IRS Appeals Office in 2015. The Company is also under audit in multiple foreign tax jurisdictions for matters primarily related to transfer pricing. In addition, the Company is under audit in multiple state tax jurisdictions. It is reasonably possible that the total amount of unrecognized tax benefits could decrease up to $250 million within the next 12 months, of which up to $50 million could favorably affect the effective tax rate. This would be due to the possible settlement of the 2009 and 2010 IRS protest, completion of the aforementioned foreign and state tax audits and the expiration of the statute of limitations in multiple tax jurisdictions. In addition, it is reasonably possible that, as a result of audit progression in both the U.S. and foreign tax audits 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 ASC 740. The Company operates within multiple tax jurisdictions and is subject to audit in these jurisdictions. With few exceptions, the Company is no longer subject to U.S. federal, state and local, or non-U.S. income tax examinations for years before 2009. The Company had $83.6 million and $119.0 million accrued for interest and penalties at December 31, 2015 and 2014 , respectively. The Company recognized interest and penalties related to tax matters of $21.1 million in 2015 , $87.9 million in 2014 , and $14.4 million in 2013 , which are included in the provision for income taxes. Deferred U.S. income taxes have not been recorded for temporary differences related to investments in certain foreign subsidiaries and corporate joint ventures. These temporary differences were approximately $14.9 billion at December 31, 2015 and consisted primarily of undistributed earnings considered permanently invested in operations outside the U.S. Determination of the deferred income tax liability on these unremitted earnings is not practicable because such liability, if any, is dependent on circumstances existing if and when remittance occurs.

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2015
Compensation and Retirement Disclosure [Abstract]
Employee Benefit Plans	Employee Benefit Plans The Company’s Profit Sharing and Savings Plan for U.S.-based employees includes a 401(k) feature, a regular employer match, and a discretionary employer match. The 401(k) feature allows participants to make pre-tax contributions that are matched each pay period from shares released under the leveraged Employee Stock Ownership Plan ("ESOP") and employer cash contributions. The Profit Sharing and Savings Plan also provides for a discretionary employer match after the end of the year for match-eligible participants. All current account balances, future contributions and related earnings can be invested in eleven investment alternatives as well as McDonald’s stock in accordance with each participant’s investment elections. Future participant contributions are limited to 20% investment in McDonald’s stock. Participants may choose to make separate investment choices for current account balances and future contributions. The Company also maintains certain nonqualified supplemental benefit plans that allow participants to (i) make tax-deferred contributions and (ii) receive Company-provided allocations that cannot be made under the Profit Sharing and Savings Plan because of IRS limitations. The investment alternatives and returns are based on certain market-rate investment alternatives under the Profit Sharing and Savings Plan. Total liabilities were $487.6 million at December 31, 2015 , and $534.0 million at December 31, 2014 , and were primarily included in other long-term liabilities on the Consolidated balance sheet. The Company has entered into derivative contracts to hedge market-driven changes in certain of the liabilities. At December 31, 2015 , derivatives with a fair value of $139.9 million indexed to the Company's stock and a total return swap with a notional amount of $180.6 million indexed to certain market indices were included at their fair value in Miscellaneous other assets and Prepaid expenses and other current assets, respectively, on the Consolidated balance sheet. Changes in liabilities for these nonqualified plans and in the fair value of the derivatives are recorded primarily in Selling, general & administrative expenses. Changes in fair value of the derivatives indexed to the Company’s stock are recorded in the income statement because the contracts provide the counterparty with a choice to settle in cash or shares. Total U.S. costs for the Profit Sharing and Savings Plan, including nonqualified benefits and related hedging activities, were (in millions): 2015 – $24.0 ; 2014 – $29.1 ; 2013 – $21.9 . Certain subsidiaries outside the U.S. also offer profit sharing, stock purchase or other similar benefit plans. Total plan costs outside the U.S. were (in millions): 2015 – $53.4 ; 2014 – $54.4 ; 2013 – $51.2 . The total combined liabilities for international retirement plans were $76.0 million and $74.7 million at December 31, 2015 and 2014 , respectively. Other post-retirement benefits and post- employment benefits were immaterial.

Segment and Geographic Informat

Segment and Geographic Information	12 Months Ended
	Dec. 31, 2015
Segment Reporting [Abstract]
Segment and Geographic Information	Segment and Geographic Information The Company franchises and operates McDonald’s restaurants in the global restaurant industry. In connection with the Company's announcement in early May 2015 to restructure its global business, the Company changed its reporting segments, effective July 1, 2015, from a geographic focus to segments each of which combines markets with similar characteristics and opportunities for growth. The following new reporting segments reflect how management now reviews and evaluates operating performance: • U.S. - the Company’s largest segment. This segment did not change as a result of the new reporting structure. • International Lead Markets - established markets including Australia, Canada, France, Germany, the U.K. and related markets. • High Growth Markets - markets the Company believes have relatively higher restaurant expansion and franchising potential including China, Italy, Korea, Poland, Russia, Spain, Switzerland, the Netherlands and related markets. • Foundational Markets and Corporate - the remaining markets in the McDonald’s system, each of which the Company believes has the potential to operate under a largely franchised model. Corporate activities are also reported within this segment. The segment information included herein is presented in accordance with the change in reporting structure for all periods presented. All intercompany revenues and expenses are eliminated in computing revenues and operating income. Corporate general and administrative expenses consists of home office support costs in areas such as facilities, finance, human resources, information technology, legal, marketing, restaurant operations, supply chain and training. Corporate assets include corporate cash and equivalents, asset portions of financial instruments and home office facilities. In millions 2015 2014 2013 U.S. $ 8,558.9 $ 8,651.0 $ 8,851.3 International Lead Markets 7,614.9 8,544.5 8,535.3 High Growth Markets 6,172.8 6,845.2 7,043.2 Foundational Markets & Corporate 3,066.4 3,400.6 3,675.9 Total revenues $ 25,413.0 $ 27,441.3 $ 28,105.7 U.S. $ 3,612.0 $ 3,522.5 $ 3,779.3 International Lead Markets 2,712.6 3,034.5 3,028.8 High Growth Markets 841.1 933.9 1,250.0 Foundational Markets & Corporate (20.2 ) 458.3 706.2 Total operating income $ 7,145.5 $ 7,949.2 $ 8,764.3 U.S. $ 11,806.1 $ 11,872.1 $ 11,711.8 International Lead Markets 11,136.3 12,538.4 14,815.5 High Growth Markets 5,248.6 5,866.0 6,335.5 Foundational Markets & Corporate 9,747.7 3,950.9 3,763.5 Total assets $ 37,938.7 $ 34,227.4 $ 36,626.3 U.S. $ 533.2 $ 736.1 $ 875.5 International Lead Markets 596.1 792.1 793.3 High Growth Markets 540.5 804.8 831.1 Foundational Markets & Corporate 144.1 250.4 324.8 Total capital expenditures $ 1,813.9 $ 2,583.4 $ 2,824.7 U.S. $ 515.2 $ 512.2 $ 503.6 International Lead Markets 460.9 521.2 507.4 High Growth Markets 363.9 387.8 357.3 Foundational Markets & Corporate 215.7 223.3 216.8 Total depreciation and amortization $ 1,555.7 $ 1,644.5 $ 1,585.1 Total long-lived assets, primarily property and equipment, were (in millions)–Consolidated: 2015 – $27,607.8 ; 2014 – $29,264.7 ; 2013 – $30,679.8 ; U.S. based: 2015 – $11,940.4 ; 2014 – $11,883.1 ; 2013 – $11,632.2 .

Debt Financing

Debt Financing	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Debt Financing	Debt Financing LINE OF CREDIT AGREEMENTS At December 31, 2015 , the Company had a $2.5 billion line of credit agreement expiring in December 2019 with fees of 0.070% per annum on the total commitment, which remained unused. Fees and interest rates on this line are based on the Company’s long-term credit rating assigned by Moody’s and Standard & Poor’s . In addition, the Company's subsidiaries had unused lines of credit that were primarily uncommitted, short-term and denominated in various currencies at local market rates of interest . The weighted-average interest rate of short-term borrowings was 2.0% at December 31, 2015 (based on $731.6 million of foreign currency bank line borrowings and $869.6 million of commercial paper) and 4.1% at December 31, 2014 (based on $862.9 million of foreign currency bank line borrowings and $200.0 million of commercial paper). DEBT OBLIGATIONS The Company has incurred debt obligations principally through public and private offerings and bank loans. There are no provisions in the Company’s debt obligations that would accelerate repayment of debt as a result of a change in credit ratings or a material adverse change in the Company’s business. Certain of the Company’s debt obligations contain cross-acceleration provisions, and restrictions on Company and subsidiary mortgages and the long-term debt of certain subsidiaries. Under certain agreements, the Company has the option to retire debt prior to maturity, either at par or at a premium over par. The Company has no current plans to retire a significant amount of its debt prior to maturity. The following table summarizes the Company’s debt obligations (interest rates and debt amounts reflected in the table include the effects of interest rate swaps). Interest rates (1) December 31 Amounts outstanding December 31 In millions of U.S. Dollars Maturity dates 2015 2014 2015 2014 Fixed 4.0 % 4.5 % $ 14,190.6 $ 6,604.7 Floating 3.3 3.2 3,019.6 2,450.0 Total U.S. Dollars 2016-2045 17,210.2 9,054.7 Fixed 2.4 3.2 3,951.9 3,014.7 Floating 0.3 2.9 665.9 320.3 Total Euro 2016-2029 4,617.8 3,335.0 Total British Pounds Sterling - Fixed 2020-2054 5.3 5.3 1,100.1 1,163.3 Total Chinese Renminbi - Floating 2016 4.3 5.6 491.8 630.1 Fixed 2.9 2.9 104.0 104.3 Floating 0.3 0.3 208.0 208.6 Total Japanese Yen 2016-2030 312.0 312.9 Fixed 2.1 2.1 264.7 268.3 Floating 3.1 4.0 229.7 220.7 Total other currencies (2) 2016-2056 494.4 489.0 Debt obligations before fair value adjustments and deferred debt costs (3) 24,226.3 14,985.0 Fair value adjustments (4) 1.8 4.7 Deferred debt costs (5) (106.0 ) (54.0 ) Total debt obligations (6) $ 24,122.1 $ 14,935.7 (1) Weighted-average effective rate, computed on a semi-annual basis. (2) Primarily consists of Swiss Francs and Korean Won. (3) Aggregate maturities for 2015 debt balances, before fair value adjustments and deferred debt costs, were as follows (in millions): 2016 – $0.0 ; 2017 – $1,065.1 ; 2018 – $1,755.3 ; 2019 – $3,844.2 ; 2020 – $2,463.9 ; Thereafter– $15,097.8 . These amounts include a reclassification of short-term obligations totaling $2.4 billion to long-term obligations as they are supported by a long-term line of credit agreement expiring in December 2019 . (4) The carrying value of underlying items in fair value hedges, in this case debt obligations, are adjusted for fair value changes to the extent they are attributable to the risk designated as being hedged. The related hedging instrument is also recorded at fair value in prepaid expenses and other current assets, miscellaneous other assets or other long-term liabilities. (5) The FASB issued an Update that requires debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of the debt liability. The Company early adopted this Update and reclassified the prior year amount. (6) The net increase in 2015 was primarily due to net issuances of $9.7 billion in connection with the Company's plan to optimize its capital structure.

Share-based Compensation

Share-based Compensation	12 Months Ended
	Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-based Compensation	Share-based Compensation The Company maintains a share-based compensation plan which authorizes the granting of various equity-based incentives including stock options and restricted stock units (RSUs) to employees and nonemployee directors. The number of shares of common stock reserved for issuance under the plans was 62.1 million at December 31, 2015 , including 37.8 million available for future grants. STOCK OPTIONS Stock options to purchase common stock are granted with an exercise price equal to the closing market price of the Company’s stock on the date of grant. Substantially all of the options become exercisable in four equal installments, beginning a year from the date of the grant, and generally expire 10 years from the grant date. Intrinsic value for stock options is defined as the difference between the current market value of the Company’s stock and the exercise price. During 2015 , 2014 and 2013 , the total intrinsic value of stock options exercised was $202.9 million , $258.9 million and $325.2 million , respectively. Cash received from stock options exercised during 2015 was $317.2 million and the tax benefit realized from stock options exercised totaled $63.0 million . The Company uses treasury shares purchased under the Company’s share repurchase program to satisfy share-based exercises. A summary of the status of the Company’s stock option grants as of December 31, 2015 , 2014 and 2013 , and changes during the years then ended, is presented in the following table: 2015 2014 2013 Options Shares in millions Weighted- average exercise price Weighted- average remaining contractual life in years Aggregate intrinsic value in millions Shares in millions Weighted- average exercise price Shares in millions Weighted- average exercise price Outstanding at beginning of year 23.4 $ 77.99 25.1 $ 69.15 27.4 $ 59.86 Granted 4.3 97.33 3.9 95.13 3.7 94.36 Exercised (5.1 ) 62.59 (5.1 ) 46.09 (5.7 ) 40.12 Forfeited/expired (0.7 ) 96.76 (0.5 ) 94.56 (0.3 ) 79.15 Outstanding at end of year 21.9 $ 84.76 6.2 $ 730.7 23.4 $ 77.99 25.1 $ 69.15 Exercisable at end of year 13.4 $ 77.31 4.9 $ 546.5 14.4 15.6 RSUs RSUs generally vest 100% on the third anniversary of the grant and are payable in either shares of McDonald’s common stock or cash, at the Company’s discretion. Certain executives have been awarded RSUs that vest based on Company performance. The fair value of each RSU granted is equal to the market price of the Company’s stock at date of grant less the present value of expected dividends over the vesting period. A summary of the Company’s RSU activity during the years ended December 31, 2015 , 2014 and 2013 is presented in the following table: 2015 2014 2013 RSUs Shares in millions Weighted- average grant date fair value Shares in millions Weighted- average grant date fair value Shares in millions Weighted- average grant date fair value Nonvested at beginning of year 2.2 $ 83.49 2.0 $ 78.89 1.8 $ 68.23 Granted 0.9 87.03 0.9 85.12 1.0 83.98 Vested (0.5 ) 88.78 (0.6 ) 69.29 (0.7 ) 56.93 Forfeited (0.2 ) 85.82 (0.1 ) 85.16 (0.1 ) 82.44 Nonvested at end of year 2.4 $ 83.50 2.2 $ 83.49 2.0 $ 78.89 The total fair value of RSUs vested during 2015 , 2014 and 2013 was $49.4 million , $54.9 million and $60.2 million , respectively. The tax benefit realized from RSUs vested during 2015 was $14.2 million .

Quarterly Results (Unaudited)

Quarterly Results (Unaudited)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Quarterly Results (Unaudited)	Quarterly Results (Unaudited) Quarters ended December 31 Quarters ended September 30 Quarters ended June 30 Quarters ended March 31 In millions, except per share data 2015 2014 2015 2014 2015 2014 2015 2014 Revenues Sales by Company-operated restaurants $ 4,030.2 $ 4,296.7 $ 4,282.9 $ 4,596.2 $ 4,261.1 $ 4,785.9 $ 3,914.1 $ 4,490.5 Revenues from franchised restaurants 2,311.1 2,275.5 2,332.2 2,390.9 2,236.6 2,395.8 2,044.8 2,209.8 Total revenues 6,341.3 6,572.2 6,615.1 6,987.1 6,497.7 7,181.7 5,958.9 6,700.3 Company-operated margin 611.6 620.0 675.2 721.5 664.8 816.1 559.8 723.4 Franchised margin 1,894.9 1,854.1 1,916.1 1,959.7 1,825.6 1,968.2 1,641.2 1,792.7 Operating income 1,880.4 1,751.7 2,030.3 2,072.5 1,849.3 2,189.0 1,385.5 1,936.0 Net income $ 1,206.2 $ 1,097.5 $ 1,309.2 $ 1,068.4 $ 1,202.4 $ 1,387.1 $ 811.5 $ 1,204.8 Earnings per common share—basic $ 1.32 $ 1.14 $ 1.41 $ 1.09 $ 1.26 $ 1.40 $ 0.84 $ 1.22 Earnings per common share—diluted $ 1.31 $ 1.13 $ 1.40 $ 1.09 $ 1.26 $ 1.40 $ 0.84 $ 1.21 Dividends declared per common share $ 0.89 $ 0.85 $ 1.66 (1) $ 0.85 $ 0.81 $ 0.85 $ 0.81 Weighted-average common shares—basic 914.1 966.6 930.3 978.7 953.2 987.4 960.6 989.6 Weighted-average common shares—diluted 919.9 971.5 934.8 983.8 957.6 993.2 965.5 995.9 Market price per common share: High $ 120.23 $ 97.50 $ 101.88 $ 101.36 $ 101.08 $ 103.78 $ 101.09 $ 99.07 Low 97.13 87.62 87.50 90.53 94.02 96.52 88.77 92.22 Close 118.14 93.70 98.53 94.81 95.07 100.74 97.44 98.03 (1) Includes a $0.81 per share dividend declared and paid in third quarter and a $0.85 per share dividend declared in third quarter and paid in fourth quarter.

Summary of Significant Accoun23

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
NATURE OF BUSINESS	NATURE OF BUSINESS The Company franchises and operates McDonald’s restaurants in the global restaurant industry. All restaurants are operated either by the Company or by franchisees, including conventional franchisees under franchise arrangements, and foreign affiliates and developmental licensees under license agreements.
CONSOLIDATION	CONSOLIDATION The consolidated financial statements include the accounts of the Company and its subsidiaries. Investments in affiliates owned 50% or less (primarily McDonald’s Japan) are accounted for by the equity method. On an ongoing basis, the Company evaluates its business relationships such as those with franchisees, joint venture partners, developmental licensees, suppliers, and advertising cooperatives to identify potential variable interest entities. Generally, these businesses qualify for a scope exception under the variable interest entity consolidation guidance. The Company has concluded that consolidation of any such entity is not appropriate for the periods presented.
ESTIMATES IN FINANCIAL STATEMENTS	ESTIMATES IN FINANCIAL STATEMENTS The preparation of financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.
RECENTLY ISSUED ACCOUNTING STANDARDS	RECENTLY ISSUED ACCOUNTING STANDARDS Simplifying the Presentation of Debt Issuance Costs For the annual reporting period ended December 31, 2015, the Company early adopted the Accounting Standards Update ("ASU") 2015-03, "Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs." This update requires that debt issuance costs be recorded in the balance sheet as a direct reduction of the debt liability rather than as an asset, and the amortization of debt issuance costs be recorded as interest expense. As a result of adopting this update, we have reclassified $54.0 million of debt issuance costs from "Miscellaneous other assets" to "Long-term debt" for December 31, 2014. In addition, we have reclassified $5.9 million from "Nonoperating (income) expense, net" to "Interest expense, net" for the years ending December 31, 2014 and 2013. Balance Sheet Reclassification of Deferred Taxes For the annual reporting period ended December 31, 2015, the Company early adopted ASU 2015-17, "Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes." This update requires that all deferred tax assets and liabilities be presented as non-current on the Balance Sheet. The Company has not retrospectively adjusted prior periods as amounts were immaterial.
REVENUE RECOGNITION	REVENUE RECOGNITION The Company’s revenues consist of sales by Company-operated restaurants and fees from franchised restaurants operated by conventional franchisees, developmental licensees and foreign affiliates. Sales by Company-operated restaurants are recognized on a cash basis. The Company presents sales net of sales tax and other sales-related taxes. Revenues from conventional franchised restaurants include rent and royalties based on a percent of sales with minimum rent payments, and initial fees. Revenues from restaurants licensed to foreign affiliates and developmental licensees include a royalty based on a percent of sales, and may include initial fees. Continuing rent and royalties are recognized in the period earned. Initial fees are recognized upon opening of a restaurant or granting of a new franchise term, which is when the Company has performed substantially all initial services required by the franchise arrangement. In May 2014, the Financial Accounting Standards Board ("FASB") issued guidance codified in Accounting Standards Codification ("ASC") 606, "Revenue Recognition - Revenue from Contracts with Customers," which amends the guidance in ASC 605, "Revenue Recognition." In July 2015, the FASB made a decision to defer by one year the effective date of its new standard to January 1, 2018, although early adoption is permitted as of January 1, 2017. The new standard allows for either a full retrospective or modified retrospective transition approach. The Company does not believe that the standard will impact its recognition of revenue from company-operated restaurants or its recognition of royalties from restaurants operated by franchisees or licensed to affiliates and developmental licensees, which are based on a percent of sales. The Company is continuing to evaluate the impact the adoption of this standard will have on the recognition of other less significant revenue transactions, such as initial fees from franchisees for new restaurant openings or new franchise terms.
FOREIGN CURRENCY TRANSLATION	FOREIGN CURRENCY TRANSLATION Generally, the functional currency of operations outside the U.S. is the respective local currency.
ADVERTISING COSTS	ADVERTISING COSTS Advertising costs included in operating expenses of Company-operated restaurants primarily consist of contributions to advertising cooperatives and were (in millions): 2015 – $718.7 ; 2014 – $808.2 ; 2013 – $808.4 . Production costs for radio and television advertising are expensed when the commercials are initially aired. These production costs, primarily in the U.S., as well as other marketing-related expenses included in Selling, general & administrative expenses were (in millions): 2015 – $113.8 ; 2014 – $98.7 ; 2013 – $75.4 . Costs related to the Olympics sponsorship are included in these expenses for 2014. In addition, significant advertising costs are incurred by franchisees through contributions to advertising cooperatives in individual markets.
SHARE-BASED COMPENSATION	SHARE-BASED COMPENSATION Share-based compensation includes the portion vesting of all share-based awards granted based on the grant date fair value.
PROPERTY AND EQUIPMENT	PROPERTY AND EQUIPMENT Property and equipment are stated at cost, with depreciation and amortization provided using the straight-line method over the following estimated useful lives: buildings–up to 40 years; leasehold improvements– the lesser of useful lives of assets or lease terms , which generally include certain option periods; and equipment– three to 12 years.
LONG-LIVED ASSETS	LONG-LIVED ASSETS Long-lived assets are reviewed for impairment annually in the fourth quarter and whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. For purposes of annually reviewing McDonald’s restaurant assets for potential impairment, assets are initially grouped together in the U.S. at a television market level, and internationally, at a country level. The Company manages its restaurants as a group or portfolio with significant common costs and promotional activities; as such, an individual restaurant’s cash flows are not generally independent of the cash flows of others in a market. If an indicator of impairment exists for any grouping of assets, an estimate of undiscounted future cash flows produced by each individual restaurant within the asset grouping is compared to its carrying value. If an individual restaurant is determined to be impaired, the loss is measured by the excess of the carrying amount of the restaurant over its fair value as determined by an estimate of discounted future cash flows. Losses on assets held for disposal are recognized when management and the Board of Directors, as required, have approved and committed to a plan to dispose of the assets, the assets are available for disposal and the disposal is probable of occurring within 12 months, and the net sales proceeds are expected to be less than its net book value, among other factors. Generally, such losses related to restaurants that have closed and ceased operations as well as other assets that meet the criteria to be considered “available for sale."
GOODWILL	GOODWILL Goodwill represents the excess of cost over the net tangible assets and identifiable intangible assets of acquired restaurant businesses. The Company's goodwill primarily results from purchases of McDonald's restaurants from franchisees and ownership increases in subsidiaries or affiliates, and it is generally assigned to the reporting unit (defined as each individual country) expected to benefit from the synergies of the combination. If a Company-operated restaurant is sold within 24 months of acquisition, the goodwill associated with the acquisition is written off in its entirety. If a restaurant is sold beyond 24 months from the acquisition, the amount of goodwill written off is based on the relative fair value of the business sold compared to the reporting unit. The Company conducts goodwill impairment testing in the fourth quarter of each year or whenever an indicator of impairment exists. If an indicator of impairment exists (e.g., estimated earnings multiple value of a reporting unit is less than its carrying value), the goodwill impairment test compares the fair value of a reporting unit, generally based on discounted future cash flows, with its carrying amount including goodwill. If the carrying amount of a reporting unit exceeds its fair value, an impairment loss is measured as the difference between the implied fair value of the reporting unit's goodwill and the carrying amount of goodwill. Historically, goodwill impairment has not significantly impacted the consolidated financial statements. Accumulated impairment losses at December 31, 2015 and 2014 were $94.1 million and $13.7 million , respectively. In connection with the Company's global restructuring, the Company evaluated the change to its new reporting segments and determined that it is still appropriate for reporting units to be defined as each individual country when testing goodwill for impairment.
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS The Company measures certain financial assets and liabilities at fair value on a recurring basis, and certain non-financial assets and liabilities on a nonrecurring basis. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market in an orderly transaction between market participants on the measurement date. Fair value disclosures are reflected in a three-level hierarchy, maximizing the use of observable inputs and minimizing the use of unobservable inputs. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability on the measurement date. The three levels are defined as follows: ▪ Level 1 – inputs to the valuation methodology are quoted prices (unadjusted) for an identical asset or liability in an active market. ▪ Level 2 – inputs to the valuation methodology include quoted prices for a similar asset or liability in an active market or model-derived valuations in which all significant inputs are observable for substantially the full term of the asset or liability. ▪ Level 3 – inputs to the valuation methodology are unobservable and significant to the fair value measurement of the asset or liability. Certain of the Company’s derivatives are valued using various pricing models or discounted cash flow analyses that incorporate observable market parameters, such as interest rate yield curves, option volatilities and currency rates, classified as Level 2 within the valuation hierarchy. Derivative valuations incorporate credit risk adjustments that are necessary to reflect the probability of default by the counterparty or the Company. ▪ Certain Financial Assets and Liabilities Measured at Fair Value The following tables present financial assets and liabilities measured at fair value on a recurring basis by the valuation hierarchy as defined in the fair value guidance: December 31, 2015 In millions Level 1* Level 2 Carrying Value Derivative assets $ 139.9 $ 65.4 $ 205.3 Derivative liabilities $ (44.4 ) $ (44.4 ) December 31, 2014 In millions Level 1* Level 2 Carrying Value Derivative assets $ 115.9 $ 130.2 $ 246.1 Derivative liabilities $ (50.2 ) $ (50.2 ) * Level 1 is comprised of derivatives that hedge market driven changes in liabilities associated with the Company’s supplemental benefit plans. ▪ Non-Financial Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis Certain assets and liabilities are measured at fair value on a nonrecurring basis; that is, the assets and liabilities are not measured at fair value on an ongoing basis, but are subject to fair value adjustments in certain circumstances (e.g., when there is evidence of impairment). For the year ended December 31, 2015 , the Company recorded fair value adjustments to its long-lived assets, primarily to goodwill, based on Level 3 inputs which includes the use of a discounted cash flow valuation approach. ▪ Certain Financial Assets and Liabilities not Measured at Fair Value At December 31, 2015 , the fair value of the Company’s debt obligations was estimated at $24.9 billion , compared to a carrying amount of $24.1 billion . The fair value was based on quoted market prices, Level 2 within the valuation hierarchy. The carrying amount for both cash equivalents and notes receivable approximate fair value.
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 Company documents its risk management objective and strategy for undertaking hedging transactions, as well as all relationships between hedging instruments and hedged items. The Company’s derivatives that are designated for hedge accounting consist mainly of interest rate swaps, foreign currency forwards, foreign currency options, and cross-currency swaps, and are classified as either fair value, cash flow or net investment hedges. Further details are explained in the "Fair Value," "Cash Flow" and "Net Investment" hedge sections. The Company also enters into certain derivatives that are not designated for hedge accounting. The Company has entered into equity derivative contracts, including total return swaps, to hedge market-driven changes in certain of its supplemental benefit plan liabilities. In addition, the Company uses foreign currency forwards to mitigate the change in fair value of certain foreign currency denominated assets and liabilities. Further details are explained in the “Undesignated Derivatives” section. All derivatives (including those not designated for hedge accounting) are recognized on the Consolidated balance sheet at fair value and classified based on the instruments’ maturity dates. Changes in the fair value measurements of the derivative instruments are reflected as adjustments to accumulated other comprehensive income ("AOCI") and/or current earnings. The following table presents the fair values of derivative instruments included on the Consolidated balance sheet as of December 31, 2015 and 2014 : Derivative Assets Derivative Liabilities In millions Balance Sheet Classification 2015 2014 Balance Sheet Classification 2015 2014 Derivatives designated as hedging instruments Foreign currency Prepaid expenses and other current assets $ 55.0 $ 80.5 Accrued payroll and other liabilities $ (22.5 ) $ (0.2 ) Interest rate Prepaid expenses and other current assets 0.0 2.6 Foreign currency Miscellaneous other assets 0.6 15.5 Other long-term liabilities (13.0 ) (34.6 ) Interest rate Miscellaneous other assets 5.3 9.6 Other long-term liabilities (3.4 ) (7.5 ) Total derivatives designated as hedging instruments $ 60.9 $ 108.2 $ (38.9 ) $ (42.3 ) Derivatives not designated as hedging instruments Equity Prepaid expenses and other current assets $ 0.3 $ 120.6 Foreign currency Prepaid expenses and other current assets 4.2 17.3 Accrued payroll and other liabilities $ (5.5 ) $ (7.9 ) Equity Miscellaneous other assets 139.9 0.0 Total derivatives not designated as hedging instruments $ 144.4 $ 137.9 $ (5.5 ) $ (7.9 ) Total derivatives $ 205.3 $ 246.1 $ (44.4 ) $ (50.2 ) Fair Value Hedges The Company enters into fair value hedges to reduce the exposure to changes in the fair values of certain liabilities. The Company's fair value hedges convert a portion of its fixed-rate debt into floating-rate debt by use of interest rate swaps. At December 31, 2015 , $2.2 billion of the Company's outstanding fixed-rate debt was effectively converted. All of the Company’s interest rate swaps meet the shortcut method requirements. Accordingly, changes in the fair value of the interest rate swaps are exactly offset by changes in the fair value of the underlying debt. No ineffectiveness has been recorded to net income related to interest rate swaps designated as fair value hedges for the year ended December 31, 2015. Derivatives in Hedging Relationships Gain (Loss) Recognized In Earnings on Hedging Derivative Gain (Loss) Recognized In Earnings on Hedged Items In millions 2015 2014 2015 2014 Interest rate $ (3.4 ) $ (8.1 ) $ 3.4 $ 8.1 Cash Flow Hedges The Company enters into cash flow hedges to reduce the exposure to variability in certain expected future cash flows. The types of cash flow hedges the Company enters into include interest rate swaps, foreign currency forwards, foreign currency options and cross currency swaps. The effective portion of the change in fair value of the derivatives are reported as a component of AOCI and reclassified into earnings in the same period in which the hedged transaction affects earnings. The Company excludes the time value of foreign currency options from its effectiveness assessment. As a result, changes in the fair value of the derivatives due to this component, as well as the ineffectiveness of the hedges, are recognized immediately in earnings. Gain (Loss) Recognized in AOCI (Effective Portion) Gain (Loss) Reclassified From AOCI Into Earnings (Effective Portion) Gain (Loss) Recognized in Earnings (Amount Excluded from Effectiveness Testing and Ineffective Portion) Derivatives in Hedging Relationships In millions 2015 2014 2015 2014 2015 2014 Foreign currency $ 35.3 $ 62.0 $ 53.0 $ 11.0 $ 22.9 $ 9.5 Interest rate (1) 0.0 0.0 (0.5 ) (0.5 ) 0.0 0.0 $ 35.3 $ 62.0 $ 52.5 $ 10.5 $ 22.9 $ 9.5 (1) The amount of gain (loss) reclassified from AOCI into earnings is recorded in interest expense . The Company periodically uses interest rate swaps to effectively convert a portion of floating-rate debt, including forecasted debt issuances, into fixed-rate debt. The agreements are intended to reduce the impact of interest rate changes on future interest expense. 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. When the U.S. dollar strengthens against foreign currencies, the decline in value of future foreign denominated royalties is offset by gains in the fair value of the foreign currency forwards and/or foreign currency options. Conversely, when the U.S. dollar weakens, the increase in the value of future foreign denominated royalties is offset by losses in the fair value of the foreign currency forwards and/or foreign currency options. Although the fair value changes in the foreign currency options may fluctuate over the period of the contract, the Company’s total loss on a foreign currency option is limited to the upfront premium paid for the contract; however, the potential gains on a foreign currency option are unlimited. The hedges cover the next 16 months for certain exposures and are denominated in various currencies. As of December 31, 2015 , the Company had derivatives outstanding with an equivalent notional amount of $373.6 million that were used to hedge 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. The hedges cover periods up to 15 months and have an equivalent notional amount of $134.7 million . The Company recorded after tax adjustments to the cash flow hedging component of AOCI in shareholders’ equity. The Company recorded a decrease of $11.0 million for the year ended December 31, 2015 and a net increase of $33.3 million for the year ended December 31, 2014 . Based on interest rates and foreign exchange rates at December 31, 2015 , there is $20.0 million in after-tax cumulative cash flow hedging gains which 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 the foreign currency translation component of AOCI, as well as the offset translation adjustments on the underlying net assets of foreign subsidiaries and affiliates. The cumulative translation gains or losses will remain in AOCI until the foreign subsidiaries and affiliates are liquidated or sold. As of December 31, 2015 , $6.2 billion of third party foreign currency denominated debt, $3.4 billion of intercompany foreign currency denominated debt, and $287.8 million of derivatives were designated to hedge investments in certain foreign subsidiaries and affiliates. Derivatives in Hedging Relationships Gain (Loss) Recognized in AOCI (Effective Portion) In millions 2015 2014 Foreign currency denominated debt $ 668.1 $ 954.6 Foreign currency derivatives 79.1 126.6 $ 747.2 $ 1,081.2 Undesignated Derivatives The Company enters into certain derivatives that are not designated for hedge accounting, therefore the changes in the fair value of these derivatives are recognized immediately in earnings together with the gain or loss from the hedged balance sheet position. As an example, the Company enters into equity derivative contracts, including total return swaps, to hedge market-driven changes in certain of its supplemental benefit plan liabilities. Changes in the fair value of these derivatives are recorded in Selling, general & administrative expenses together with the changes in the supplemental benefit plan liabilities. In addition, the Company uses foreign currency forwards to mitigate the change in fair value of certain foreign currency denominated assets and liabilities. The changes in the fair value of these derivatives are recognized in Nonoperating (income) expense, net, along with the currency gain or loss from the hedged balance sheet position. Derivatives Not Designated for Hedge Accounting Gain (Loss) Recognized in Earnings In millions 2015 2014 Foreign currency $ 14.6 $ 10.4 Equity 38.9 23.5 $ 53.5 $ 33.9 Credit Risk The Company is exposed to credit-related losses in the event of non-performance by the counterparties to its hedging instruments. The counterparties to these agreements consist of a diverse group of financial institutions and market participants. The Company continually monitors its positions and the credit ratings of its counterparties and adjusts positions as appropriate. The Company did not have significant exposure to any individual counterparty at December 31, 2015 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, even for counterparties subject to netting arrangements. Some of these agreements also require each party to post collateral if credit ratings fall below, or aggregate exposures exceed, certain contractual limits. At December 31, 2015 , the Company was required to post an immaterial amount of collateral due to certain derivatives having negative positions. The Company's counterparties were not required to post collateral on any derivative position, other than on hedges of certain of the Company’s supplemental benefit plan liabilities where the counterparties were required to post collateral on their liability positions.
INCOME TAX UNCERTAINTIES	INCOME TAX UNCERTAINTIES The Company, like other multi-national companies, is regularly audited by federal, state and foreign tax authorities, and tax assessments may arise several years after tax returns have been filed. Accordingly, tax liabilities are recorded when, in management’s judgment, a tax position does not meet the more likely than not threshold for recognition. For tax positions that meet the more likely than not threshold, a tax liability may still be recorded depending on management’s assessment of how the tax position will ultimately be settled. The Company records interest and penalties on unrecognized tax benefits in the provision for income taxes.
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 (in millions of shares): 2015 – 5.2 ; 2014 – 5.8 ; 2013 – 7.6 . Stock options that were not included in diluted weighted-average shares because they would have been antidilutive were (in millions of shares): 2015 – 1.0 ; 2014 – 5.3 ; 2013 – 4.7 . In the first quarter of 2016, the Company paid $2.7 billion under an Accelerated Share Repurchase agreement and received an initial delivery of 18.5 million shares, which represents 80% of the total shares the Company expects to receive based on the market price at the time of initial delivery. The final number of shares delivered upon settlement of the agreement, between April 1, 2016 and May 13, 2016, will be determined with reference to the volume weighted average price per share of the Company's common stock over the term of the agreement, less a negotiated discount. The transaction is accounted for as an equity transaction and is included in Treasury stock when the shares are received, at which time there is an immediate reduction in the weighted average common shares calculation for basic and diluted earnings per share.
CASH AND EQUIVALENTS	CASH AND EQUIVALENTS The Company considers short-term, highly liquid investments with an original maturity of 90 days or less to be cash equivalents.
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS The Company evaluated subsequent events through the date the financial statements were issued and filed with the U.S. Securities and Exchange Commission ("SEC"). There were no subsequent events that required recognition or disclosure.

Summary of Significant Accoun24

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Restaurant Information by Ownership Type	The following table presents restaurant information by ownership type: Restaurants at December 31, 2015 2014 2013 Conventional franchised 21,147 20,774 20,355 Developmental licensed 5,529 5,228 4,747 Foreign affiliated 3,405 3,542 3,589 Franchised 30,081 29,544 28,691 Company-operated 6,444 6,714 6,738 Systemwide restaurants 36,525 36,258 35,429
Share-Based Compensation Expense and Effect on Diluted Earnings Per Common Share	Share-based compensation expense and the effect on diluted earnings per common share were as follows: In millions, except per share data 2015 2014 2013 Share-based compensation expense $ 110.0 $ 112.8 $ 89.1 After tax $ 76.0 $ 72.8 $ 60.6 Earnings per common share-diluted $ 0.08 $ 0.08 $ 0.06
Weighted-Average Assumptions	The following table presents the weighted-average assumptions used in the option pricing model for the 2015 , 2014 and 2013 stock option grants. The expected life of the options represents the period of time the options are expected to be outstanding and is based on historical trends. Expected stock price volatility is generally based on the historical volatility of the Company’s stock for a period approximating the expected life. The expected dividend yield is based on the Company’s most recent annual dividend rate. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant with a term equal to the expected life. Weighted-average assumptions 2015 2014 2013 Expected dividend yield 3.6 % 3.3 % 3.5 % Expected stock price volatility 18.8 % 20.0 % 20.6 % Risk-free interest rate 1.7 % 2.0 % 1.2 % Expected life of options (in years) 6.0 6.1 6.1 Fair value per option granted $ 10.43 $ 12.23 $ 11.09
Activity in Goodwill by Segment	The following table presents the 2015 activity in goodwill by segment: In millions U.S. International Lead Markets High Growth Markets Foundational Markets & Corporate Consolidated Balance at December 31, 2014 $ 1,295.8 $ 777.3 $ 352.2 $ 310.0 $ 2,735.3 Net restaurant purchases (sales) (2.4 ) 9.4 0.8 3.8 11.6 Impairment losses 0.0 0.0 0.0 (80.4 ) (80.4 ) Currency translation (88.6 ) (30.6 ) (31.0 ) (150.2 ) Balance at December 31, 2015 $ 1,293.4 $ 698.1 $ 322.4 $ 202.4 $ 2,516.3
Financial Assets and Liabilities Measured at Fair Value on Recurring Basis	The following tables present financial assets and liabilities measured at fair value on a recurring basis by the valuation hierarchy as defined in the fair value guidance: December 31, 2015 In millions Level 1* Level 2 Carrying Value Derivative assets $ 139.9 $ 65.4 $ 205.3 Derivative liabilities $ (44.4 ) $ (44.4 ) December 31, 2014 In millions Level 1* Level 2 Carrying Value Derivative assets $ 115.9 $ 130.2 $ 246.1 Derivative liabilities $ (50.2 ) $ (50.2 ) * Level 1 is comprised of derivatives that hedge market driven changes in liabilities associated with the Company’s supplemental benefit plans.
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 as of December 31, 2015 and 2014 : Derivative Assets Derivative Liabilities In millions Balance Sheet Classification 2015 2014 Balance Sheet Classification 2015 2014 Derivatives designated as hedging instruments Foreign currency Prepaid expenses and other current assets $ 55.0 $ 80.5 Accrued payroll and other liabilities $ (22.5 ) $ (0.2 ) Interest rate Prepaid expenses and other current assets 0.0 2.6 Foreign currency Miscellaneous other assets 0.6 15.5 Other long-term liabilities (13.0 ) (34.6 ) Interest rate Miscellaneous other assets 5.3 9.6 Other long-term liabilities (3.4 ) (7.5 ) Total derivatives designated as hedging instruments $ 60.9 $ 108.2 $ (38.9 ) $ (42.3 ) Derivatives not designated as hedging instruments Equity Prepaid expenses and other current assets $ 0.3 $ 120.6 Foreign currency Prepaid expenses and other current assets 4.2 17.3 Accrued payroll and other liabilities $ (5.5 ) $ (7.9 ) Equity Miscellaneous other assets 139.9 0.0 Total derivatives not designated as hedging instruments $ 144.4 $ 137.9 $ (5.5 ) $ (7.9 ) Total derivatives $ 205.3 $ 246.1 $ (44.4 ) $ (50.2 )
Derivatives Pretax Amounts Affecting Income and Other Comprehensive Income	Derivatives in Hedging Relationships Gain (Loss) Recognized in AOCI (Effective Portion) In millions 2015 2014 Foreign currency denominated debt $ 668.1 $ 954.6 Foreign currency derivatives 79.1 126.6 $ 747.2 $ 1,081.2 Gain (Loss) Recognized in AOCI (Effective Portion) Gain (Loss) Reclassified From AOCI Into Earnings (Effective Portion) Gain (Loss) Recognized in Earnings (Amount Excluded from Effectiveness Testing and Ineffective Portion) Derivatives in Hedging Relationships In millions 2015 2014 2015 2014 2015 2014 Foreign currency $ 35.3 $ 62.0 $ 53.0 $ 11.0 $ 22.9 $ 9.5 Interest rate (1) 0.0 0.0 (0.5 ) (0.5 ) 0.0 0.0 $ 35.3 $ 62.0 $ 52.5 $ 10.5 $ 22.9 $ 9.5 (1) The amount of gain (loss) reclassified from AOCI into earnings is recorded in interest expense . Derivatives in Hedging Relationships Gain (Loss) Recognized In Earnings on Hedging Derivative Gain (Loss) Recognized In Earnings on Hedged Items In millions 2015 2014 2015 2014 Interest rate $ (3.4 ) $ (8.1 ) $ 3.4 $ 8.1 Derivatives Not Designated for Hedge Accounting Gain (Loss) Recognized in Earnings In millions 2015 2014 Foreign currency $ 14.6 $ 10.4 Equity 38.9 23.5 $ 53.5 $ 33.9

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Net Property and Equipment	Net property and equipment consisted of: In millions December 31, 2015 2014 Land $ 5,582.5 $ 5,788.4 Buildings and improvements on owned land 14,011.7 14,322.4 Buildings and improvements on leased land 12,892.9 13,284.0 Equipment, signs and seating 4,658.5 5,113.8 Other 546.8 617.5 37,692.4 39,126.1 Accumulated depreciation and amortization (14,574.8 ) (14,568.6 ) Net property and equipment $ 23,117.6 $ 24,557.5

Other Operating (Income) Expe26

Other Operating (Income) Expense, Net (Tables)	12 Months Ended
	Dec. 31, 2015
Other Income and Expenses [Abstract]
Other Operating (Income) Expense by Component	Other Operating (Income) Expense, Net In millions 2015 2014 2013 Gains on sales of restaurant businesses $ (145.9 ) $ (137.4 ) $ (199.4 ) Equity in (earnings) losses of unconsolidated affiliates 146.8 8.9 (78.2 ) Asset dispositions and other (income) expense, net (26.6 ) 108.2 30.4 Impairment and other charges 235.1 38.9 0.0 Total $ 209.4 $ 18.6 $ (247.2 )

Franchise Arrangements (Tables)

Franchise Arrangements (Tables)	12 Months Ended
	Dec. 31, 2015
Disclosure Franchise Arrangements Additional Information [Abstract]
Revenues from Franchised Restaurants	Revenues from franchised restaurants consisted of: In millions 2015 2014 2013 Rents $ 5,860.6 $ 6,106.7 $ 6,054.4 Royalties 2,980.7 3,085.1 3,100.4 Initial fees 83.4 80.2 76.7 Revenues from franchised restaurants $ 8,924.7 $ 9,272.0 $ 9,231.5
Future Minimum Payments	Future gross minimum rent payments due to the Company under existing franchise arrangements are: In millions Owned sites Leased sites Total 2016 $ 1,293.0 $ 1,334.9 $ 2,627.9 2017 1,245.2 1,288.4 2,533.6 2018 1,211.7 1,237.2 2,448.9 2019 1,176.8 1,178.5 2,355.3 2020 1,136.0 1,104.4 2,240.4 Thereafter 9,714.9 8,418.3 18,133.2 Total minimum payments $ 15,777.6 $ 14,561.7 $ 30,339.3 Future minimum payments required under existing operating leases with initial terms of one year or more are: In millions Restaurant Other Total 2016 $ 1,274.0 $ 75.9 $ 1,349.9 2017 1,171.5 63.6 1,235.1 2018 1,058.5 54.0 1,112.5 2019 955.9 45.2 1,001.1 2020 858.4 36.4 894.8 Thereafter 6,783.5 137.9 6,921.4 Total minimum payments $ 12,101.8 $ 413.0 $ 12,514.8

Leasing Arrangements (Tables)

Leasing Arrangements (Tables)	12 Months Ended
	Dec. 31, 2015
Leases [Abstract]
Detail of Rent Expense	The following table provides detail of rent expense: In millions 2015 2014 2013 Company-operated restaurants: U.S. $ 59.2 $ 61.3 $ 61.6 Outside the U.S. 652.7 708.3 713.4 Total 711.9 769.6 775.0 Franchised restaurants: U.S. 463.7 446.3 441.6 Outside the U.S. 565.0 610.1 572.0 Total 1,028.7 1,056.4 1,013.6 Other 98.4 106.3 104.0 Total rent expense $ 1,839.0 $ 1,932.3 $ 1,892.6
Schedule of Future Minimum Rental Payments for Operating Leases	Future gross minimum rent payments due to the Company under existing franchise arrangements are: In millions Owned sites Leased sites Total 2016 $ 1,293.0 $ 1,334.9 $ 2,627.9 2017 1,245.2 1,288.4 2,533.6 2018 1,211.7 1,237.2 2,448.9 2019 1,176.8 1,178.5 2,355.3 2020 1,136.0 1,104.4 2,240.4 Thereafter 9,714.9 8,418.3 18,133.2 Total minimum payments $ 15,777.6 $ 14,561.7 $ 30,339.3 Future minimum payments required under existing operating leases with initial terms of one year or more are: In millions Restaurant Other Total 2016 $ 1,274.0 $ 75.9 $ 1,349.9 2017 1,171.5 63.6 1,235.1 2018 1,058.5 54.0 1,112.5 2019 955.9 45.2 1,001.1 2020 858.4 36.4 894.8 Thereafter 6,783.5 137.9 6,921.4 Total minimum payments $ 12,101.8 $ 413.0 $ 12,514.8

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Income before Provision for Income Taxes, Classified by Source of Income	Income before provision for income taxes, classified by source of income, was as follows: In millions 2015 2014 2013 U.S. $ 2,597.8 $ 2,681.9 $ 2,912.7 Outside the U.S. 3,957.9 4,690.1 5,291.8 Income before provision for income taxes $ 6,555.7 $ 7,372.0 $ 8,204.5
Provision for Income Taxes, Classified by Timing and Location of Payment	The provision for income taxes, classified by the timing and location of payment, was as follows: In millions 2015 2014 2013 U.S. federal $ 1,072.3 $ 1,124.8 $ 1,238.2 U.S. state 139.5 148.4 175.0 Outside the U.S. 816.0 1,431.7 1,180.2 Current tax provision 2,027.8 2,704.9 2,593.4 U.S. federal 6.8 (81.8 ) 46.2 U.S. state (3.9 ) (6.2 ) (6.7 ) Outside the U.S. (4.3 ) (2.7 ) (14.3 ) Deferred tax provision (1.4 ) (90.7 ) 25.2 Provision for income taxes $ 2,026.4 $ 2,614.2 $ 2,618.6
Net Deferred Tax Liabilities	Net deferred tax liabilities consisted of: In millions December 31, 2015 2014 Property and equipment $ 1,751.7 $ 1,754.6 Intangibles and other 1,188.8 907.0 Total deferred tax liabilities 2,940.5 2,661.6 Property and equipment (472.7 ) (394.4 ) Employee benefit plans (390.1 ) (400.3 ) Intangible assets (222.6 ) (252.2 ) Deferred foreign tax credits (289.2 ) (272.9 ) Operating loss carryforwards (419.8 ) (286.5 ) Other (297.0 ) (331.2 ) Total deferred tax assets before valuation allowance (2,091.4 ) (1,937.5 ) Valuation allowance 322.4 287.9 Net deferred tax liabilities $ 1,171.5 $ 1,012.0 Balance sheet presentation: Deferred income taxes $ 1,704.3 $ 1,624.5 Other assets-miscellaneous (532.8 ) (591.2 ) Current assets-prepaid expenses and other current assets 0.0 (21.3 ) Net deferred tax liabilities $ 1,171.5 $ 1,012.0
Statutory U.S. Federal Income Tax Rate Reconciliation to Effective Income Tax Rates	The statutory U.S. federal income tax rate reconciles to the effective income tax rates as follows: 2015 2014 2013 Statutory U.S. federal income tax rate 35.0 % 35.0 % 35.0 % State income taxes, net of related federal income tax benefit 1.6 1.6 1.3 Foreign income taxed at different rates (4.9 ) (4.8 ) (5.1 ) Taxes related to unfavorable lower tax court ruling and audit progression in foreign tax jurisdictions 0.0 4.1 0.0 Cash repatriation (2.3 ) (1.2 ) (0.5 ) Other, net 1.5 0.8 1.2 Effective income tax rates 30.9 % 35.5 % 31.9 %
Reconciliation of Beginning and Ending Amounts of Unrecognized Tax Benefits	The following table presents a reconciliation of the beginning and ending amounts of unrecognized tax benefits: In millions 2015 2014 Balance at January 1 $ 988.1 $ 512.7 Decreases for positions taken in prior years (49.9 ) (19.5 ) Increases for positions taken in prior years 30.5 504.7 Increases for positions related to the current year 83.7 80.7 Settlements with taxing authorities (258.0 ) (78.0 ) Lapsing of statutes of limitations (13.2 ) (12.5 ) Balance at December 31 (1) $ 781.2 $ 988.1 (1) Of this amount, $704.0 million and $909.0 million are included in Other long-term liabilities for 2015 and 2014 , respectively, and $21.9 million and $19.5 million are included in Current liabilities - income taxes for 2015 and 2014, respectively, on the Consolidated balance sheet. The remainder is included in Deferred income taxes on the Consolidated balance sheet.

Segment and Geographic Inform30

Segment and Geographic Information (Tables)	12 Months Ended
	Dec. 31, 2015
Segment Reporting [Abstract]
Revenues and Operating Income by Geographic Segment	In millions 2015 2014 2013 U.S. $ 8,558.9 $ 8,651.0 $ 8,851.3 International Lead Markets 7,614.9 8,544.5 8,535.3 High Growth Markets 6,172.8 6,845.2 7,043.2 Foundational Markets & Corporate 3,066.4 3,400.6 3,675.9 Total revenues $ 25,413.0 $ 27,441.3 $ 28,105.7 U.S. $ 3,612.0 $ 3,522.5 $ 3,779.3 International Lead Markets 2,712.6 3,034.5 3,028.8 High Growth Markets 841.1 933.9 1,250.0 Foundational Markets & Corporate (20.2 ) 458.3 706.2 Total operating income $ 7,145.5 $ 7,949.2 $ 8,764.3 U.S. $ 11,806.1 $ 11,872.1 $ 11,711.8 International Lead Markets 11,136.3 12,538.4 14,815.5 High Growth Markets 5,248.6 5,866.0 6,335.5 Foundational Markets & Corporate 9,747.7 3,950.9 3,763.5 Total assets $ 37,938.7 $ 34,227.4 $ 36,626.3 U.S. $ 533.2 $ 736.1 $ 875.5 International Lead Markets 596.1 792.1 793.3 High Growth Markets 540.5 804.8 831.1 Foundational Markets & Corporate 144.1 250.4 324.8 Total capital expenditures $ 1,813.9 $ 2,583.4 $ 2,824.7 U.S. $ 515.2 $ 512.2 $ 503.6 International Lead Markets 460.9 521.2 507.4 High Growth Markets 363.9 387.8 357.3 Foundational Markets & Corporate 215.7 223.3 216.8 Total depreciation and amortization $ 1,555.7 $ 1,644.5 $ 1,585.1

Debt Financing (Tables)

Debt Financing (Tables)	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Summary of Debt Obligations	The following table summarizes the Company’s debt obligations (interest rates and debt amounts reflected in the table include the effects of interest rate swaps). Interest rates (1) December 31 Amounts outstanding December 31 In millions of U.S. Dollars Maturity dates 2015 2014 2015 2014 Fixed 4.0 % 4.5 % $ 14,190.6 $ 6,604.7 Floating 3.3 3.2 3,019.6 2,450.0 Total U.S. Dollars 2016-2045 17,210.2 9,054.7 Fixed 2.4 3.2 3,951.9 3,014.7 Floating 0.3 2.9 665.9 320.3 Total Euro 2016-2029 4,617.8 3,335.0 Total British Pounds Sterling - Fixed 2020-2054 5.3 5.3 1,100.1 1,163.3 Total Chinese Renminbi - Floating 2016 4.3 5.6 491.8 630.1 Fixed 2.9 2.9 104.0 104.3 Floating 0.3 0.3 208.0 208.6 Total Japanese Yen 2016-2030 312.0 312.9 Fixed 2.1 2.1 264.7 268.3 Floating 3.1 4.0 229.7 220.7 Total other currencies (2) 2016-2056 494.4 489.0 Debt obligations before fair value adjustments and deferred debt costs (3) 24,226.3 14,985.0 Fair value adjustments (4) 1.8 4.7 Deferred debt costs (5) (106.0 ) (54.0 ) Total debt obligations (6) $ 24,122.1 $ 14,935.7 (1) Weighted-average effective rate, computed on a semi-annual basis. (2) Primarily consists of Swiss Francs and Korean Won. (3) Aggregate maturities for 2015 debt balances, before fair value adjustments and deferred debt costs, were as follows (in millions): 2016 – $0.0 ; 2017 – $1,065.1 ; 2018 – $1,755.3 ; 2019 – $3,844.2 ; 2020 – $2,463.9 ; Thereafter– $15,097.8 . These amounts include a reclassification of short-term obligations totaling $2.4 billion to long-term obligations as they are supported by a long-term line of credit agreement expiring in December 2019 . (4) The carrying value of underlying items in fair value hedges, in this case debt obligations, are adjusted for fair value changes to the extent they are attributable to the risk designated as being hedged. The related hedging instrument is also recorded at fair value in prepaid expenses and other current assets, miscellaneous other assets or other long-term liabilities. (5) The FASB issued an Update that requires debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of the debt liability. The Company early adopted this Update and reclassified the prior year amount. (6) The net increase in 2015 was primarily due to net issuances of $9.7 billion in connection with the Company's plan to optimize its capital structure.

Share-based Compensation (Table

Share-based Compensation (Tables)	12 Months Ended
	Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of Stock Option Grants	A summary of the status of the Company’s stock option grants as of December 31, 2015 , 2014 and 2013 , and changes during the years then ended, is presented in the following table: 2015 2014 2013 Options Shares in millions Weighted- average exercise price Weighted- average remaining contractual life in years Aggregate intrinsic value in millions Shares in millions Weighted- average exercise price Shares in millions Weighted- average exercise price Outstanding at beginning of year 23.4 $ 77.99 25.1 $ 69.15 27.4 $ 59.86 Granted 4.3 97.33 3.9 95.13 3.7 94.36 Exercised (5.1 ) 62.59 (5.1 ) 46.09 (5.7 ) 40.12 Forfeited/expired (0.7 ) 96.76 (0.5 ) 94.56 (0.3 ) 79.15 Outstanding at end of year 21.9 $ 84.76 6.2 $ 730.7 23.4 $ 77.99 25.1 $ 69.15 Exercisable at end of year 13.4 $ 77.31 4.9 $ 546.5 14.4 15.6
Summary of Restricted Stock Unit Activity	A summary of the Company’s RSU activity during the years ended December 31, 2015 , 2014 and 2013 is presented in the following table: 2015 2014 2013 RSUs Shares in millions Weighted- average grant date fair value Shares in millions Weighted- average grant date fair value Shares in millions Weighted- average grant date fair value Nonvested at beginning of year 2.2 $ 83.49 2.0 $ 78.89 1.8 $ 68.23 Granted 0.9 87.03 0.9 85.12 1.0 83.98 Vested (0.5 ) 88.78 (0.6 ) 69.29 (0.7 ) 56.93 Forfeited (0.2 ) 85.82 (0.1 ) 85.16 (0.1 ) 82.44 Nonvested at end of year 2.4 $ 83.50 2.2 $ 83.49 2.0 $ 78.89

Quarterly Results (Unaudited) (

Quarterly Results (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Quarterly Results	Quarterly Results (Unaudited) Quarters ended December 31 Quarters ended September 30 Quarters ended June 30 Quarters ended March 31 In millions, except per share data 2015 2014 2015 2014 2015 2014 2015 2014 Revenues Sales by Company-operated restaurants $ 4,030.2 $ 4,296.7 $ 4,282.9 $ 4,596.2 $ 4,261.1 $ 4,785.9 $ 3,914.1 $ 4,490.5 Revenues from franchised restaurants 2,311.1 2,275.5 2,332.2 2,390.9 2,236.6 2,395.8 2,044.8 2,209.8 Total revenues 6,341.3 6,572.2 6,615.1 6,987.1 6,497.7 7,181.7 5,958.9 6,700.3 Company-operated margin 611.6 620.0 675.2 721.5 664.8 816.1 559.8 723.4 Franchised margin 1,894.9 1,854.1 1,916.1 1,959.7 1,825.6 1,968.2 1,641.2 1,792.7 Operating income 1,880.4 1,751.7 2,030.3 2,072.5 1,849.3 2,189.0 1,385.5 1,936.0 Net income $ 1,206.2 $ 1,097.5 $ 1,309.2 $ 1,068.4 $ 1,202.4 $ 1,387.1 $ 811.5 $ 1,204.8 Earnings per common share—basic $ 1.32 $ 1.14 $ 1.41 $ 1.09 $ 1.26 $ 1.40 $ 0.84 $ 1.22 Earnings per common share—diluted $ 1.31 $ 1.13 $ 1.40 $ 1.09 $ 1.26 $ 1.40 $ 0.84 $ 1.21 Dividends declared per common share $ 0.89 $ 0.85 $ 1.66 (1) $ 0.85 $ 0.81 $ 0.85 $ 0.81 Weighted-average common shares—basic 914.1 966.6 930.3 978.7 953.2 987.4 960.6 989.6 Weighted-average common shares—diluted 919.9 971.5 934.8 983.8 957.6 993.2 965.5 995.9 Market price per common share: High $ 120.23 $ 97.50 $ 101.88 $ 101.36 $ 101.08 $ 103.78 $ 101.09 $ 99.07 Low 97.13 87.62 87.50 90.53 94.02 96.52 88.77 92.22 Close 118.14 93.70 98.53 94.81 95.07 100.74 97.44 98.03 (1) Includes a $0.81 per share dividend declared and paid in third quarter and a $0.85 per share dividend declared in third quarter and paid in fourth quarter.

Restaurant Information by Owner

Restaurant Information by Ownership Type (Detail) - Restaurant	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting Information [Line Items]
Number of Restaurants	36,525	36,258	35,429
Franchised restaurants:
Segment Reporting Information [Line Items]
Number of Restaurants	30,081	29,544	28,691
Company-operated restaurants:
Segment Reporting Information [Line Items]
Number of Restaurants	6,444	6,714	6,738
Conventional franchised | Franchised restaurants:
Segment Reporting Information [Line Items]
Number of Restaurants	21,147	20,774	20,355
Developmental licensed | Franchised restaurants:
Segment Reporting Information [Line Items]
Number of Restaurants	5,529	5,228	4,747
Affiliated | Franchised restaurants:
Segment Reporting Information [Line Items]
Number of Restaurants	3,405	3,542	3,589

Summary of Significant Accoun35

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Feb. 12, 2016
Significant Accounting Policies [Line Items]
Derivative, Notional Amount	$ 287.8
Other debt related interest expense		$ 5.9	$ 5.9
Advertising costs of Company-operated restaurants	718.7	808.2	808.4
Other marketing-related expenses	113.8	98.7	75.4
Unrecognized compensation cost related to nonvested share-based compensation that is expected to be recognized	$ 98.8
Weighted-average expected recognition period for unrecognized share-based compensation costs	2 years
Long lived assets impairment test period	12 months
Goodwill impairment test period	24 months
Fair value goodwill written off related to sale of restaurant minimum months Company-operated	24 months
Goodwill, Impaired, Accumulated Impairment Loss	$ 94.1	13.7
Debt obligations, carrying amount	24,100
Net increase (decrease) after-tax related to the cash flow hedges component of accumulate OCI in shareholders' equity	(11)	$ 33.3	$ (37.5)
Cumulative deferred hedging losses, after tax, included in accumulated other comprehensive income	$ (20)
Dilutive effect of share-based compensation	5.2	5.8	7.6
Stock options that were not included in diluted weighted-average shares	1	5.3	4.7
Level 2
Significant Accounting Policies [Line Items]
Debt obligations, fair value	$ 24,900
Interest Rate Swap
Significant Accounting Policies [Line Items]
Derivative, Notional Amount	2,200
Royalty Arrangement
Significant Accounting Policies [Line Items]
Derivative, Notional Amount	$ 373.6
Period covered by hedge	16 months
Cross Currency Swap
Significant Accounting Policies [Line Items]
Derivative, Notional Amount	$ 134.7
Period covered by hedge	15 months
Building [Member]
Significant Accounting Policies [Line Items]
Property and equipment, estimated useful life maximum	40 years
Leasehold Improvements [Member]
Significant Accounting Policies [Line Items]
Property and equipment, estimated useful life	the lesser of useful lives of assets or lease terms
Minimum | Equipment [Member]
Significant Accounting Policies [Line Items]
Property and equipment, estimated useful life maximum	3 years
Maximum | Equipment [Member]
Significant Accounting Policies [Line Items]
Property and equipment, estimated useful life maximum	12 years
Intercompany Debt [Member]
Significant Accounting Policies [Line Items]
Forgein currency denominated debt designated to hedge investments in certain foreign subsidiaries and affiliates	$ 3,400
Debt [Member]
Significant Accounting Policies [Line Items]
Forgein currency denominated debt designated to hedge investments in certain foreign subsidiaries and affiliates	$ 6,200
Subsequent Event [Member]
Significant Accounting Policies [Line Items]
Accelerated Share Repurchases, Payment				$ 2,700
Treasury Stock Shares Acquired Through Accelerated Share Repurchase				18.5
Percent of total shares expected to receive at the time of initial delivery				80.00%

Share-Based Compensation Expens

Share-Based Compensation Expense and Effect on Diluted Earnings Per Common Share (Detail) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Accounting Policies [Abstract]
Share-based compensation expense	$ 110	$ 112.8	$ 89.1
After tax	$ 76	$ 72.8	$ 60.6
Earnings per common share-diluted	$ 0.08	$ 0.08	$ 0.06

Weighted-Average Assumptions (D

Weighted-Average Assumptions (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Accounting Policies [Abstract]
Expected dividend yield	3.60%	3.30%	3.50%
Expected stock price volatility	18.80%	20.00%	20.60%
Risk-free interest rate	1.70%	2.00%	1.20%
Expected life of options In years	6 years	6 years 1 month 6 days	6 years 1 month 6 days
Fair value per option granted	$ 10.43	$ 12.23	$ 11.09

Activity in Goodwill by Segment

Activity in Goodwill by Segment (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Goodwill [Line Items]
Goodwill, Impaired, Accumulated Impairment Loss	$ (94.1)	$ (13.7)
Goodwill, beginning balance	2,735.3
Goodwill, period increase (decrease)	11.6
Goodwill, Impairment Loss	(80.4)
Goodwill, Translation Adjustments	(150.2)
Goodwill, ending balance	2,516.3
U.S.
Goodwill [Line Items]
Goodwill, beginning balance	1,295.8
Goodwill, period increase (decrease)	(2.4)
Goodwill, Impairment Loss	0
Goodwill, ending balance	1,293.4
International Lead Markets [Member]
Goodwill [Line Items]
Goodwill, beginning balance	777.3
Goodwill, period increase (decrease)	9.4
Goodwill, Impairment Loss	0
Goodwill, Translation Adjustments	(88.6)
Goodwill, ending balance	698.1
High-Growth Markets [Member]
Goodwill [Line Items]
Goodwill, beginning balance	352.2
Goodwill, period increase (decrease)	0.8
Goodwill, Impairment Loss	0
Goodwill, Translation Adjustments	(30.6)
Goodwill, ending balance	322.4
Foundational Markets and Corporate [Member]
Goodwill [Line Items]
Goodwill, beginning balance	310
Goodwill, period increase (decrease)	3.8
Goodwill, Impairment Loss	(80.4)
Goodwill, Translation Adjustments	(31)
Goodwill, ending balance	$ 202.4

Financial Assets and Liabilitie

Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - Fair Value, Measurements, Recurring - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Derivative assets	$ 205.3	$ 246.1
Derivative payables	(44.4)	(50.2)
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Derivative assets	139.9	115.9
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Derivative assets	65.4	130.2
Derivative payables	$ (44.4)	$ (50.2)

Fair Values of Derivative Instr

Fair Values of Derivative Instruments Included on Consolidated Balance Sheet (Detail) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Derivatives, Fair Value [Line Items]
Asset Derivatives Fair Value	$ 205.3	$ 246.1
Liability Derivatives Fair Value	(44.4)	(50.2)
Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Asset Derivatives Fair Value	60.9	108.2
Liability Derivatives Fair Value	(38.9)	(42.3)
Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives Fair Value	144.4	137.9
Liability Derivatives Fair Value	(5.5)	(7.9)
Foreign currency | Prepaid expenses and other current assets | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Asset Derivatives Fair Value	55	80.5
Foreign currency | Prepaid expenses and other current assets | Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives Fair Value	4.2	17.3
Foreign currency | Accrued payroll and other liabilities | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Liability Derivatives Fair Value	(22.5)	(0.2)
Foreign currency | Accrued payroll and other liabilities | Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Liability Derivatives Fair Value	(5.5)	(7.9)
Foreign currency | Miscellaneous other assets | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Asset Derivatives Fair Value	0.6	15.5
Foreign currency | Other long- term liabilities | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Liability Derivatives Fair Value	(13)	(34.6)
Interest rate | Prepaid expenses and other current assets | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Asset Derivatives Fair Value	0	2.6
Interest rate | Miscellaneous other assets | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Asset Derivatives Fair Value	5.3	9.6
Interest rate | Other long- term liabilities | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Liability Derivatives Fair Value	(3.4)	(7.5)
Equity | Prepaid expenses and other current assets | Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives Fair Value	0.3	120.6
Equity | Miscellaneous other assets | Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives Fair Value	$ 139.9	$ 0

Derivatives Pretax Amounts Affe

Derivatives Pretax Amounts Affecting Income and Other Comprehensive Income (Detail) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014
Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Accumulated OCI on Derivative (Effective Portion)		$ 35.3	$ 62
Gain (Loss) Reclassified into Income from Accumulated OCI (Effective Portion)		52.5	10.5
Gain (Loss) Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing and Ineffective Portion)		22.9	9.5
Net Investment Hedging Relationships
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Accumulated OCI on Derivative (Effective Portion)		747.2	1,081.2
Interest rate | Derivatives in Fair Value Hedging Relationships
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Income on Derivative		(3.4)	(8.1)
Gain (Loss) Recognized in Income on Related Hedged Items		3.4	8.1
Interest rate | Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Accumulated OCI on Derivative (Effective Portion)	[1]	0	0
Gain (Loss) Reclassified into Income from Accumulated OCI (Effective Portion)	[1]	(0.5)	(0.5)
Gain (Loss) Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing and Ineffective Portion)	[1]	0	0
Foreign currency denominated debt | Net Investment Hedging Relationships
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Accumulated OCI on Derivative (Effective Portion)		668.1	954.6
Foreign currency | Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Accumulated OCI on Derivative (Effective Portion)		35.3	62
Gain (Loss) Reclassified into Income from Accumulated OCI (Effective Portion)		53	11
Gain (Loss) Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing and Ineffective Portion)		22.9	9.5
Foreign currency derivatives | Net Investment Hedging Relationships
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Accumulated OCI on Derivative (Effective Portion)		79.1	126.6
Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Income on Derivative		53.5	33.9
Not Designated as Hedging Instrument [Member] | Foreign currency
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Income on Derivative		14.6	10.4
Not Designated as Hedging Instrument [Member] | Equity
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Income on Derivative	[2]	$ 38.9	$ 23.5
[1]	The amount of gain (loss) reclassified from accumulated OCI into income is recorded in Interest expense.
[2]	The amount of gain (loss) recognized in income on the derivatives used to hedge the supplemental benefit plan liabilities is recorded in Selling, general & administrative expenses.

Net Property and Equipment (Det

Net Property and Equipment (Detail) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Land	$ 5,582.5	$ 5,788.4
Buildings and improvements on owned land	14,011.7	14,322.4
Buildings and improvements on leased land	12,892.9	13,284
Equipment, signs and seating	4,658.5	5,113.8
Other	546.8	617.5
Property and equipment, at cost	37,692.4	39,126.1
Accumulated depreciation and amortization	(14,574.8)	(14,568.6)
Net property and equipment	$ 23,117.6	$ 24,557.5

Property and Equipment - Additi

Property and Equipment - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Property, Plant and Equipment [Abstract]
Depreciation	$ 1,438	$ 1,539.3	$ 1,498.8

Other Operating (Income) Expe44

Other Operating (Income) Expenses by Component (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Other Income and Expenses [Abstract]
Gains on sales of restaurant businesses	$ (145.9)	$ (137.4)	$ (199.4)
Equity in earnings of unconsolidated affiliates	146.8	8.9	(78.2)
Asset dispositions and other expense	(26.6)	108.2	30.4
Restructuring Costs and Asset Impairment Charges	235.1	38.9	0
Total	$ 209.4	$ 18.6	$ (247.2)

Franchise Arrangements - Additi

Franchise Arrangements - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Franchisor Disclosure [Line Items]
Franchise arrangement period	20 years
Net property and equipment	$ 23,117.6	$ 24,557.5
Land	5,582.5	5,788.4
Accumulated depreciation and amortization of property and equipment	14,574.8	$ 14,568.6
Franchise Arrangements
Franchisor Disclosure [Line Items]
Net property and equipment	14,900
Land	4,400
Accumulated depreciation and amortization of property and equipment	$ 8,400

Revenues from Franchised Restau

Revenues from Franchised Restaurants (Detail) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Disclosure Franchise Arrangements Additional Information [Abstract]
Rents									$ 5,860.6	$ 6,106.7	$ 6,054.4
Royalties									2,980.7	3,085.1	3,100.4
Initial fees									83.4	80.2	76.7
Revenues from franchised restaurants	$ 2,311.1	$ 2,332.2	$ 2,236.6	$ 2,044.8	$ 2,275.5	$ 2,390.9	$ 2,395.8	$ 2,209.8	$ 8,924.7	$ 9,272	$ 9,231.5

Future Minimum Rent Payment due

Future Minimum Rent Payment due to Company under Existing Franchise Arrangements (Detail) $ in Millions	Dec. 31, 2015USD ($)
Leases Disclosure [Line Items]
2,016	$ 2,627.9
2,017	2,533.6
2,018	2,448.9
2,019	2,355.3
2,020	2,240.4
Thereafter	18,133.2
Total minimum payments	30,339.3
Owned sites
Leases Disclosure [Line Items]
2,016	1,293
2,017	1,245.2
2,018	1,211.7
2,019	1,176.8
2,020	1,136
Thereafter	9,714.9
Total minimum payments	15,777.6
Leased sites
Leases Disclosure [Line Items]
2,016	1,334.9
2,017	1,288.4
2,018	1,237.2
2,019	1,178.5
2,020	1,104.4
Thereafter	8,418.3
Total minimum payments	$ 14,561.7

Leasing Arrangements - Addition

Leasing Arrangements - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)Restaurant	Dec. 31, 2014USD ($)Restaurant	Dec. 31, 2013USD ($)Restaurant
Operating Leased Assets [Line Items]
Number of Restaurants	36,525	36,258	35,429
Lease term	20 years
Company-operated restaurants:
Operating Leased Assets [Line Items]
Number of Restaurants	6,444	6,714	6,738
Rents in excess of minimum rents | $	$ 146.6	$ 164.2	$ 175.6
Franchised restaurants:
Operating Leased Assets [Line Items]
Number of Restaurants	30,081	29,544	28,691
Rents in excess of minimum rents | $	$ 178.8	$ 182.8	$ 187.4
Ground Leases
Operating Leased Assets [Line Items]
Number of Restaurants	15,115
Minimum
Operating Leased Assets [Line Items]
Escalation timing	1 year
Maximum
Operating Leased Assets [Line Items]
Escalation timing	5 years

Future Minimum Payments Require

Future Minimum Payments Required under Existing Operating Leases (Detail) $ in Millions	Dec. 31, 2015USD ($)
Leases Disclosure [Line Items]
2,016	$ 1,349.9
2,017	1,235.1
2,018	1,112.5
2,019	1,001.1
2,020	894.8
Thereafter	6,921.4
Total minimum payments	12,514.8
Restaurant
Leases Disclosure [Line Items]
2,016	1,274
2,017	1,171.5
2,018	1,058.5
2,019	955.9
2,020	858.4
Thereafter	6,783.5
Total minimum payments	12,101.8
Other
Leases Disclosure [Line Items]
2,016	75.9
2,017	63.6
2,018	54
2,019	45.2
2,020	36.4
Thereafter	137.9
Total minimum payments	$ 413

Detail of Rent Expense (Detail)

Detail of Rent Expense (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Leases Disclosure [Line Items]
Rent Expense	$ 1,839	$ 1,932.3	$ 1,892.6
Company-operated restaurants:
Leases Disclosure [Line Items]
Rent Expense	711.9	769.6	775
Franchised restaurants:
Leases Disclosure [Line Items]
Rent Expense	1,028.7	1,056.4	1,013.6
Other
Leases Disclosure [Line Items]
Rent Expense	98.4	106.3	104
U.S. | Company-operated restaurants:
Leases Disclosure [Line Items]
Rent Expense	59.2	61.3	61.6
U.S. | Franchised restaurants:
Leases Disclosure [Line Items]
Rent Expense	463.7	446.3	441.6
Outside the U.S. | Company-operated restaurants:
Leases Disclosure [Line Items]
Rent Expense	652.7	708.3	713.4
Outside the U.S. | Franchised restaurants:
Leases Disclosure [Line Items]
Rent Expense	$ 565	$ 610.1	$ 572

Income before Provision for Inc

Income before Provision for Income Taxes, Classified by Source of Income (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
U.S.	$ 2,597.8	$ 2,681.9	$ 2,912.7
Outside the U.S.	3,957.9	4,690.1	5,291.8
Income before provision for income taxes	$ 6,555.7	$ 7,372	$ 8,204.5

Provision for Income Taxes, Cla

Provision for Income Taxes, Classified by Timing and Location of Payment (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
U.S. federal	$ 1,072.3	$ 1,124.8	$ 1,238.2
U.S. state	139.5	148.4	175
Outside the U.S.	816	1,431.7	1,180.2
Current tax provision	2,027.8	2,704.9	2,593.4
U.S. federal	6.8	(81.8)	46.2
U.S. state	(3.9)	(6.2)	(6.7)
Outside the U.S.	(4.3)	(2.7)	(14.3)
Deferred tax provision	(1.4)	(90.7)	25.2
Provision for income taxes	$ 2,026.4	$ 2,614.2	$ 2,618.6

Net Deferred Tax Liabilities (D

Net Deferred Tax Liabilities (Detail) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Schedule of Deferred Income Tax Assets and Liabilities
Property and equipment	$ 1,751.7	$ 1,754.6
Other	1,188.8	907
Deferred Tax Liabilities, Gross	2,940.5	2,661.6
Property and equipment	(472.7)	(394.4)
Employee benefit plans	(390.1)	(400.3)
Intangible assets	(222.6)	(252.2)
Deferred foreign tax credits	(289.2)	(272.9)
Operating loss carryforwards	(419.8)	(286.5)
Other	(297)	(331.2)
Total deferred tax assets before valuation allowance	(2,091.4)	(1,937.5)
Valuation allowance	322.4	287.9
Deferred Tax Liabilities, Net	1,171.5	1,012
Balance sheet presentation: [Abstract]
Deferred income taxes	1,704.3	1,624.5
Other noncurrent assets
Balance sheet presentation: [Abstract]
Deferred tax assets	(532.8)	(591.2)
Prepaid expenses and other current assets
Balance sheet presentation: [Abstract]
Deferred tax assets	$ 0	$ (21.3)

Statutory U.S. Federal Income T

Statutory U.S. Federal Income Tax Rate Reconcilation to Effective Income Tax Rates (Detail)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Statutory U.S. federal income tax rate	35.00%	35.00%	35.00%
State income taxes, net of related federal income tax benefit	1.60%	1.60%	1.30%
Foreign income taxed at different rates	(4.90%)	(4.80%)	(5.10%)
Taxes related to unfavorable lower tax court ruling and audit progression in foreign tax jurisdictions	0.00%	4.10%	0.00%
Effective Income Tax Rate Reconciliation, Repatriation of Foreign Earnings, Percent	(2.30%)	(1.20%)	(0.50%)
Other, net	1.50%	0.80%	1.20%
Effective income tax rates	30.90%	35.50%	31.90%

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015		Dec. 31, 2014		Dec. 31, 2013	Dec. 31, 2010
Income Taxes [Line Items]
Operating loss carryforwards	$ 1,500
Unrecognized tax benefits	781.2	[1]	$ 988.1	[1]	$ 512.7
Reasonably possible amount of unrecognized tax benefits decrease within the next 12 months - minimum						$ 250
Effective tax rate adjustment	470
Accrued interest and penalties related to income tax matters	83.6		119
Provision for income taxes, interest and penalties expense related to tax matters	21.1		$ 87.9		$ 14.4
Temporary difference for which deferred U.S. income taxes have not been recorded	14,900
Minimum
Income Taxes [Line Items]
Effective tax rate adjustment						$ 50
Indefinite [Member]
Income Taxes [Line Items]
Operating loss carryforwards	$ 1,200
[1]	Of this amount, $704.0 million and $909.0 million are included in Other long-term liabilities for 2015 and 2014, respectively, and $21.9 million and $19.5 million are included in Current liabilities - income taxes for 2015 and 2014, respectively, on the Consolidated balance sheet. The remainder is included in Deferred income taxes on the Consolidated balance sheet.

Reconciliation of Beginning and

Reconciliation of Beginning and Ending Amounts of Unrecognized Tax Benefits (Detail) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2015		Dec. 31, 2014
Income Tax Disclosure [Abstract]
Unrecognized tax benefits, beginning balance		$ 988.1	[1]	$ 512.7
Decreases for positions taken in prior years		(49.9)		(19.5)
Increases for positions taken in prior years		30.5		504.7
Increases for positions related to the current year		83.7		80.7
Settlements with taxing authorities		(258)		(78)
Lapsing of statutes of limitations		(13.2)		(12.5)
Unrecognized tax benefits	[1]	$ 781.2		$ 988.1
[1]	Of this amount, $704.0 million and $909.0 million are included in Other long-term liabilities for 2015 and 2014, respectively, and $21.9 million and $19.5 million are included in Current liabilities - income taxes for 2015 and 2014, respectively, on the Consolidated balance sheet. The remainder is included in Deferred income taxes on the Consolidated balance sheet.

Reconciliation of Beginning a57

Reconciliation of Beginning and Ending Amounts of Unrecognized Tax Benefits (Table Footnotes) (Detail) - USD ($) $ in Millions	Dec. 31, 2015		Dec. 31, 2014		Dec. 31, 2013
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Unrecognized tax benefits	$ 781.2	[1]	$ 988.1	[1]	$ 512.7
Other long-term liabilities
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Unrecognized tax benefits	704		909
Other Current Liabilities [Member]
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Unrecognized tax benefits	$ 21.9		$ 19.5
[1]	Of this amount, $704.0 million and $909.0 million are included in Other long-term liabilities for 2015 and 2014, respectively, and $21.9 million and $19.5 million are included in Current liabilities - income taxes for 2015 and 2014, respectively, on the Consolidated balance sheet. The remainder is included in Deferred income taxes on the Consolidated balance sheet.

Employee Benefit Plans - Additi

Employee Benefit Plans - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule Of Employee Benefit Plans [Line Items]
Tax-deferred contributions, description of plan	The Company also maintains certain nonqualified supplemental benefit plans that allow participants to (i) make tax-deferred contributions and (ii) receive Company-provided allocations that cannot be made under the Profit Sharing and Savings Plan because of IRS limitations. The investment alternatives and returns are based on certain market-rate investment alternatives under the Profit Sharing and Savings Plan.
Supplemental benefit plan liabilities	$ 487.6	$ 534
Derivative contracts, reasons for holding derivative instruments	The Company has entered into derivative contracts to hedge market-driven changes in certain of the liabilities.
Derivative contracts, fair value of derivatives indexed to the Company's stock	$ 139.9
Investment, indexed to the Company's prepaid expenses and other current assets	$ 180.6
Derivative contracts, disclosure of the effect on the results of operations	Changes in liabilities for these nonqualified plans and in the fair value of the derivatives are recorded primarily in Selling, general & administrative expenses. Changes in fair value of the derivatives indexed to the Company’s stock are recorded in the income statement because the contracts provide the counterparty with a choice to settle in cash or shares.
Maximum
Schedule Of Employee Benefit Plans [Line Items]
Participants' future contributions to the 401(k) feature and the discretionary employer matching contribution feature	20.00%
U.S.
Schedule Of Employee Benefit Plans [Line Items]
Profit sharing and savings plan costs	$ 24	29.1	$ 21.9
Outside the U.S.
Schedule Of Employee Benefit Plans [Line Items]
Profit sharing and savings plan costs	53.4	54.4	$ 51.2
Total liabilities for international retirement plans	$ 76	$ 74.7

Segment and Geographic Inform59

Segment and Geographic Information (Detail) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Entity Wide Revenue Major Customer [Line Items]
Total revenues	$ 6,341.3	$ 6,615.1	$ 6,497.7	$ 5,958.9	$ 6,572.2	$ 6,987.1	$ 7,181.7	$ 6,700.3	$ 25,413	$ 27,441.3	$ 28,105.7
Total operating income	1,880.4	$ 2,030.3	$ 1,849.3	$ 1,385.5	1,751.7	$ 2,072.5	$ 2,189	$ 1,936	7,145.5	7,949.2	8,764.3
Total assets	37,938.7				34,227.4				37,938.7	34,227.4	36,626.3
Total capital expenditures									1,813.9	2,583.4	2,824.7
Depreciation and amortization									1,555.7	1,644.5	1,585.1
U.S.
Entity Wide Revenue Major Customer [Line Items]
Total revenues									8,558.9	8,651	8,851.3
Total operating income									3,612	3,522.5	3,779.3
Total assets	11,806.1				11,872.1				11,806.1	11,872.1	11,711.8
Total capital expenditures									533.2	736.1	875.5
Depreciation and amortization									515.2	512.2	503.6
International Lead Markets [Member]
Entity Wide Revenue Major Customer [Line Items]
Total revenues									7,614.9	8,544.5	8,535.3
Total operating income									2,712.6	3,034.5	3,028.8
Total assets	11,136.3				12,538.4				11,136.3	12,538.4	14,815.5
Total capital expenditures									596.1	792.1	793.3
Depreciation and amortization									460.9	521.2	507.4
High-Growth Markets [Member]
Entity Wide Revenue Major Customer [Line Items]
Total revenues									6,172.8	6,845.2	7,043.2
Total operating income									841.1	933.9	1,250
Total assets	5,248.6				5,866				5,248.6	5,866	6,335.5
Total capital expenditures									540.5	804.8	831.1
Depreciation and amortization									363.9	387.8	357.3
Foundational Markets and Corporate [Member]
Entity Wide Revenue Major Customer [Line Items]
Total revenues									3,066.4	3,400.6	3,675.9
Total operating income									(20.2)	458.3	706.2
Total assets	$ 9,747.7				$ 3,950.9				9,747.7	3,950.9	3,763.5
Total capital expenditures									144.1	250.4	324.8
Depreciation and amortization									$ 215.7	$ 223.3	$ 216.8

Segment and Geographic Inform60

Segment and Geographic Information - Additional Information (Detail) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting Information [Line Items]
Total long lived assets	$ 27,607.8	$ 29,264.7	$ 30,679.8
U.S.
Segment Reporting Information [Line Items]
Total long lived assets	$ 11,940.4	$ 11,883.1	$ 11,632.2

Debt Financing - Additional Inf

Debt Financing - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Debt Disclosure [Line Items]
Weighted-average interst rate on short-term borrowings	2.00%	4.10%
Debt, face amount	$ 10,220	$ 1,540.6	$ 1,417.2
Additional paid-in capital	6,533.4	6,239.1
Revolving Credit Facility Expiring In Twenty Nineteen | Unused lines of Credit [Member]
Debt Disclosure [Line Items]
Unused Line of credit	$ 2,500
Unused Line of credit agreement, fees	0.07%
Line of Credit Facility, Commitment Fee Description	Fees and interest rates on this line are based on the Company’s long-term credit rating assigned by Moody’s and Standard & Poor’s
Outside the U.S.
Debt Disclosure [Line Items]
Foreign currency bank line borrowings	$ 731.6	862.9
Outside the U.S. | Unused lines of Credit [Member]
Debt Disclosure [Line Items]
Line of Credit Facility, Currency	denominated in various currencies
Line of Credit Facility, Interest Rate Description	local market rates of interest
U.S.
Debt Disclosure [Line Items]
Commercial Paper	$ 869.6	$ 200

Summary of Debt Obligations (De

Summary of Debt Obligations (Detail) - USD ($) $ in Millions		Dec. 31, 2015	Dec. 31, 2014
Debt Disclosure [Line Items]
Amounts outstanding	[1]	$ 24,122.1	$ 14,935.7
Deferred Finance Costs, Own-share Lending Arrangement, Issuance Costs, Net	[2]	(106)	(54)
Debt Obligations Before Fair Value Adjustments
Debt Disclosure [Line Items]
Amounts outstanding	[3]	24,226.3	14,985
Derivatives in Fair Value Hedging Relationships
Debt Disclosure [Line Items]
Amounts outstanding	[4]	1.8	4.7
Currency US Dollar
Debt Disclosure [Line Items]
Amounts outstanding		$ 17,210.2	$ 9,054.7
Currency US Dollar | Fixed Rate Debt
Debt Disclosure [Line Items]
Interest rates	[5]	4.00%	4.50%
Amounts outstanding		$ 14,190.6	$ 6,604.7
Currency US Dollar | Floating Rate Debt
Debt Disclosure [Line Items]
Interest rates	[5]	3.30%	3.20%
Amounts outstanding		$ 3,019.6	$ 2,450
Currency Euro
Debt Disclosure [Line Items]
Amounts outstanding		$ 4,617.8	$ 3,335
Currency Euro | Fixed Rate Debt
Debt Disclosure [Line Items]
Interest rates	[5]	2.40%	3.20%
Amounts outstanding		$ 3,951.9	$ 3,014.7
Currency Euro | Floating Rate Debt
Debt Disclosure [Line Items]
Interest rates	[5]	0.30%	2.90%
Amounts outstanding		$ 665.9	$ 320.3
Currency Japanese Yen
Debt Disclosure [Line Items]
Amounts outstanding		$ 312	$ 312.9
Currency Japanese Yen | Fixed Rate Debt
Debt Disclosure [Line Items]
Interest rates	[5]	2.90%	2.90%
Amounts outstanding		$ 104	$ 104.3
Currency Japanese Yen | Floating Rate Debt
Debt Disclosure [Line Items]
Interest rates	[5]	0.30%	0.30%
Amounts outstanding		$ 208	$ 208.6
Currency British Pound Sterling [Member] | Fixed Rate Debt
Debt Disclosure [Line Items]
Interest rates	[5]	5.30%	5.30%
Amounts outstanding		$ 1,100.1	$ 1,163.3
Currency Chinese Renminbi [Member] | Floating Rate Debt
Debt Disclosure [Line Items]
Interest rates	[5]	4.30%	5.60%
Amounts outstanding		$ 491.8	$ 630.1
Foreign currency denominated debt
Debt Disclosure [Line Items]
Amounts outstanding	[6]	$ 494.4	$ 489
Foreign currency denominated debt | Fixed Rate Debt
Debt Disclosure [Line Items]
Interest rates	[5]	2.10%	2.10%
Amounts outstanding		$ 264.7	$ 268.3
Foreign currency denominated debt | Floating Rate Debt
Debt Disclosure [Line Items]
Interest rates	[5]	3.10%	4.00%
Amounts outstanding		$ 229.7	$ 220.7
[1]	The net increase in 2015 was primarily due to net issuances of $9.7 billion in connection with the Company's plan to optimize its capital structure.
[2]	FASB issued an Update that requires debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of the debt liability.
[3]	Aggregate maturities for 2015 debt balances, before fair value adjustments and deferred debt costs, were as follows (in millions): 2016–$0.0; 2017–$1,065.1; 2018–$1,755.3; 2019–$3,844.2; 2020–$2,463.9; Thereafter–$15,097.8. These amounts include a reclassification of short-term obligations totaling $2.4 billion to long-term obligations as they are supported by a long-term line of credit agreement expiring in December 2019.
[4]	The carrying value of underlying items in fair value hedges, in this case debt obligations, are adjusted for fair value changes to the extent they are attributable to the risk designated as being hedged. The related hedging instrument is also recorded at fair value in prepaid expenses and other current assets, miscellaneous other assets or other long-term liabilities.
[5]	Weighted-average effective rate, computed on a semi-annual basis.
[6]	Primarily consists of Swiss Francs and Korean Won.

Summary of Debt Obligations (Ta

Summary of Debt Obligations (Table Footnotes) (Detail) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014
Debt Disclosure [Line Items]
2,016		$ 0
2,017		1,065.1
2,018		1,755.3
2,019		3,844.2
2,020		2,463.9
Thereafter		15,097.8
Reclassification to Long Term Debt		2,400
Amounts outstanding	[1]	24,122.1	$ 14,935.7
Net Issuance Maturities Of Debt [Member]
Debt Disclosure [Line Items]
Increase (Decrease) In debt obligations		$ 9,700
[1]	The net increase in 2015 was primarily due to net issuances of $9.7 billion in connection with the Company's plan to optimize its capital structure.

Share-based Compensation - Addi

Share-based Compensation - Additional Information (Detail) - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Schedule Of Share Based Compensation Arrangements By Share Based Payment Award Equity Instruments Other Than Options Performance Share Units [Line Items]
Description of share based compensation plan	The Company maintains a share-based compensation plan which authorizes the granting of various equity-based incentives including stock options and restricted stock units (RSUs) to employees and nonemployee directors.
Share-based compensation plan, number of shares of common stock reserved for issuance	62.1
Stock options, number of years to expire	10 years
Outstanding stock options	21.9	23.4	25.1	27.4
Proceeds from stock option exercises	$ 317.2	$ 235.4	$ 233.3
Tax benefit on stock option exercises and other	44.8	70.2	93.6
RSUs vested, total fair value	$ 49.4	54.9	60.2
Stock Compensation Plan
Schedule Of Share Based Compensation Arrangements By Share Based Payment Award Equity Instruments Other Than Options Performance Share Units [Line Items]
Outstanding stock options	37.8
Stock Option
Schedule Of Share Based Compensation Arrangements By Share Based Payment Award Equity Instruments Other Than Options Performance Share Units [Line Items]
Stock options exercised total intrinsic value	$ 202.9	$ 258.9	$ 325.2
Tax benefit on stock option exercises and other	63
Restricted Stock Units (RSUs)
Schedule Of Share Based Compensation Arrangements By Share Based Payment Award Equity Instruments Other Than Options Performance Share Units [Line Items]
Tax benefit on stock option exercises and other	$ 14.2
Vesting percentage	100.00%
Vesting period	3 years

Summary of Stock Option Grants

Summary of Stock Option Grants (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Stock options grant shares
Outstanding at beginning of year	23.4	25.1	27.4
Granted	4.3	3.9	3.7
Exercised	(5.1)	(5.1)	(5.7)
Forfeited/expired	(0.7)	(0.5)	(0.3)
Outstanding at end of year	21.9	23.4	25.1
Exercisable at end of year	13.4	14.4	15.6
Stock options grant weighted-average exercise price
Outstanding at beginning of year	$ 77.99	$ 69.15	$ 59.86
Granted	97.33	95.13	94.36
Exercised	62.59	46.09	40.12
Forfeited/expired	96.76	94.56	79.15
Outstanding at end of year	84.76	$ 77.99	$ 69.15
Exercisable at end of year	$ 77.31
Stock options grant Weighted-average remaining contractual life
Outstanding at end of year	6 years 2 months 12 days
Exercisable at end of year	4 years 10 months 24 days
Stock options grant aggregate intrinsic value
Outstanding at end of year	$ 730.7
Exercisable at end of year	$ 546.5

Summary of Restricted Stock Uni

Summary of Restricted Stock Unit Activity (Detail) - $ / shares shares in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
RSUs shares
Nonvested at beginning of year	2.2	2	1.8
Granted	0.9	0.9	1
Vested	(0.5)	(0.6)	(0.7)
Forfeited	(0.2)	(0.1)	(0.1)
Nonvested at end of year	2.4	2.2	2
RSUs weighted-average grant date fair value
Nonvested at beginning of year	$ 83.49	$ 78.89	$ 68.23
Granted	87.03	85.12	83.98
Vested	88.78	69.29	56.93
Forfeited	85.82	85.16	82.44
Nonvested at end of year	$ 83.50	$ 83.49	$ 78.89

Quarterly Results (Detail)

Quarterly Results (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended									12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014		Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Quarterly Financial Information [Line Items]
Sales by Company-operated restaurants	$ 4,030.2	$ 4,282.9	$ 4,261.1	$ 3,914.1	$ 4,296.7	$ 4,596.2		$ 4,785.9	$ 4,490.5	$ 16,488.3	$ 18,169.3	$ 18,874.2
Revenues from franchised restaurants	2,311.1	2,332.2	2,236.6	2,044.8	2,275.5	2,390.9		2,395.8	2,209.8	8,924.7	9,272	9,231.5
Total revenues	6,341.3	6,615.1	6,497.7	5,958.9	6,572.2	6,987.1		7,181.7	6,700.3	25,413	27,441.3	28,105.7
Total operating income	1,880.4	2,030.3	1,849.3	1,385.5	1,751.7	2,072.5		2,189	1,936	7,145.5	7,949.2	8,764.3
Net income	$ 1,206.2	$ 1,309.2	$ 1,202.4	$ 811.5	$ 1,097.5	$ 1,068.4		$ 1,387.1	$ 1,204.8	$ 4,529.3	$ 4,757.8	$ 5,585.9
Earnings per common share–basic	$ 1.32	$ 1.41	$ 1.26	$ 0.84	$ 1.14	$ 1.09		$ 1.40	$ 1.22	$ 4.82	$ 4.85	$ 5.59
Earnings per common share–diluted	1.31	1.40	1.26	0.84	$ 1.13	1.09		1.40	1.21	4.80	4.82	5.55
Dividends declared per common share	$ 0.89	$ 0.85	$ 0.85	$ 0.85		$ 1.66	[1]	$ 0.81	$ 0.81	$ 3.44	$ 3.28	$ 3.12
Weighted-averaged common shares–basic	914.1	930.3	953.2	960.6	966.6	978.7		987.4	989.6	939.4	980.5	998.4
Weighted-averaged common shares–diluted	919.9	934.8	957.6	965.5	971.5	983.8		993.2	995.9	944.6	986.3	1,006
Common stock sales price per share, Quarter end	$ 118.14	$ 98.53	$ 95.07	$ 97.44	$ 93.70	$ 94.81		$ 100.74	$ 98.03	$ 118.14	$ 93.70
Company-operated
Quarterly Financial Information [Line Items]
Margin	$ 611.6	$ 675.2	$ 664.8	$ 559.8	$ 620	$ 721.5		$ 816.1	$ 723.4
Franchised
Quarterly Financial Information [Line Items]
Margin	$ 1,894.9	$ 1,916.1	$ 1,825.6	$ 1,641.2	$ 1,854.1	$ 1,959.7		$ 1,968.2	$ 1,792.7
Maximum
Quarterly Financial Information [Line Items]
Common stock sales price per share	$ 120.23	$ 101.88	$ 101.08	$ 101.09	$ 97.50	$ 101.36		$ 103.78	$ 99.07
Minimum
Quarterly Financial Information [Line Items]
Common stock sales price per share	$ 97.13	$ 87.50	$ 94.02	$ 88.77	$ 87.62	$ 90.53		$ 96.52	$ 92.22
[1]	Includes a $0.81 per share dividend declared and paid in third quarter and a $0.85 per share dividend declared in third quarter and paid in fourth quarter.

Quarterly Results (Table Footno

Quarterly Results (Table Footnotes) (Detail)	3 Months Ended
	Sep. 30, 2014$ / shares
Quarterly Financial Information Disclosure [Abstract]
Dividends declared per common share, amount declared and paid in third quarter	$ 0.81
Dividends declared per common share, amount declared in third quarter and paid in fourth quarter	$ 0.85