Mcd Sar 2003
McDonald’s 2003 Summary Annual Report Plan to Win built strong foundation in 2003... Continuing the momentum in 2004... ® TM Contents 11- year summary 1 Letter to shareholders 4A McDonald’s legend hangs up his spatula 5 Plan to Win built strong foundation in 2003 6 Continuing the momentum in 2004 14 Measuring performance for a better customer experience 18 Partnering with our suppliers 20 Living a balanced lifestyle 22 Directors & corporate officers 23 Investor information & services 11- year summary 24 A helping hand Dollars in millions, except per share data 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993 Company-operated sales $12,795 11,500 11,041 10,467 9,512 8,895 8,136 7,571 6,863 5,793 5,157 Franchised and affiliated revenues $ 4,345 3,906 3,829 3,776 3,747 3,526 3,273 3,116 2,932 2,528 2,251 Total revenues $17,140 15,406 14,870 14,243 13,259 12,421 11,409 10,687 9,795 8,321 7,408 Operating income $ 2,832(1) 2,113(2) 2,697(3) 3,330 3,320 2,762(4) 2,808 2,633 2,601 2,241 1,984 Income before taxes and cumulative effect of accounting changes $ 2,346(1) 1,662(2) 2,330(3) 2,882 2,884 2,307(4) 2,407 2,251 2,169 1,887 1,676 Net income $ 1,471(1,5) 893(2,6) 1,637(3) 1,977 1,948 1,550(4) 1,642 1,573 1,427 1,224 1,083 Cash provided by operations $ 3,269 2,890 2,688 2,751 3,009 2,766 2,442 2,461 2,296 1,926 1,680 Capital expenditures $ 1,307 2,004 1,906 1,945 1,868 1,879 2,111 2,375 2,064 1,539 1,317 Treasury stock purchases $ 439 687 1,090 2,002 933 1,162 765 605 321 500 628 Financial position at year end: Total assets $25,525 23,971
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