麦当劳 2024年度报告

UNITEDSTATES SECURITIESANDEXCHANGECOMMISSION Washington,DC20549 FORM10-K ☐ANNUALREPORTPURSUANTTOSECTION13OR15(d)OFTHESECURITIESEXCHANGEACTOF1934ForthefiscalyearendedDecember31,2024 or ☐TRANSITIONREPORTPURSUANTTOSECTION13OR15(d)OFTHESECURITIESEXCHANGEACTOF1934Forthetransitionperiodfromto CommissionFileNumber1-5231 McDONALD’SCORPORATION (Exactnameofregistrantasspecifiedinitscharter) Delaware36-2361282 (Stateorotherjurisdictionofincorporationororganization)(I.R.S.EmployerIdentificationNo.) 110NorthCarpenter Street,Chicago,Illinois60607 (Addressofprincipalexecutiveoffices)(Zipcode) Registrant’stelephonenumber,includingareacode:(630)623-3000SecuritiesregisteredpursuanttoSection12(b)oftheAct: TitleofeachclassTradingSymbol(s) Nameofeachexchangeonwhichregistered CommonStock,$0.01parvalueMCDNewYorkStockExchange SecuritiesregisteredpursuanttoSection12(g)oftheAct:None Indicatebycheckmarkiftheregistrantisawell-knownseasonedissuer,asdefinedinRule405oftheSecuritiesAct.Yes☐No☐ IndicatebycheckmarkiftheregistrantisnotrequiredtofilereportspursuanttoSection13orSection15(d)oftheAct.Yes☐No☐ Indicatebycheckmarkwhethertheregistrant(1)hasfiledallreportsrequiredtobefiledbySection13or15(d)oftheSecuritiesExchangeActof1934duringthepreceding12months(orforsuchshorterperiodthattheregistrantwasrequiredtofilesuchreports),and(2)hasbeensubjecttosuchfilingrequirementsforthepast90days.Yes☐No☐ IndicatebycheckmarkwhethertheregistranthassubmittedelectronicallyeveryInteractiveDataFilerequiredtobesubmittedpursuanttoRule405ofRegulationS-T(§232.405ofthischapter)duringthepreceding12months(orforsuchshorterperiodthattheregistrantwasrequiredtosubmitsuchfiles).Yes☐No☐ Indicatebycheckmarkwhethertheregistrantisalargeacceleratedfiler,anacceleratedfiler,anon-acceleratedfiler,asmallerreportingcompany,oranemerginggrowthcompany.Seethedefinitionsof“largeacceleratedfiler,”“acceleratedfiler,”“smallerreportingcompany,”and"emerginggrowthcompany"inRule12b-2oftheExchangeAct. Largeacceleratedfiler☐Acceleratedfiler☐Non-acceleratedfiler☐Smallerreportingcompany☐Emerginggrowthcompany☐ Ifanemerginggrowthcompany,indicatebycheckmarkiftheregistranthaselectednottousetheextendedtransitionperiodforcomplyingwithanyneworrevisedfinancialaccountingstandardsprovidedpursuanttoSection13(a)oftheExchangeAct.☐ Indicatebycheckmarkwhethertheregistranthasfiledareportonandattestationtoitsmanagement’sassessmentoftheeffectivenessofitsinternalcontroloverfinancialreportingunderSection404(b)oftheSarbanes-OxleyAct(15U.S.C.7262(b))bytheregisteredpublicaccountingfirmthatpreparedorissueditsauditreport.☐ IfsecuritiesareregisteredpursuanttoSection12(b)oftheAct,indicatebycheckmarkwhetherthefinancialstatementsoftheregistrantincludedinthefilingreflectthecorrectionofanerrortopreviouslyissuedfinancialstatements.☐ Indicatebycheckmarkwhetheranyofthoseerrorcorrectionsarerestatementsthatrequiredarecoveryanalysisofincentive-basedcompensationreceivedbyanyoftheregistrant'sexecutiveofficersduringtherelevantrecoveryperiodpursuantto§240.10D-1(b)☐Indicatebycheckmarkwhethertheregistrantisashellcompany(asdefinedinRule12b-2oftheAct).Yes☐No☐ Theaggregatemarketvalueoftheregistrant'scommonstockheldbynon-affiliatesasofJune28,2024:182,778,968,633. Thenumberofsharesoutstandingoftheregistrant’scommonstockasofJanuary31,2025:714,461,139. DOCUMENTSINCORPORATEDBYREFERENCE PartIIIofthisForm10-Kincorporatesinformationbyreferencefromtheregistrant’s2025definitiveproxystatement,whichwillbefilednolaterthan120daysafterDecember31,2024. McDONALD’SCORPORATIONTABLEOFCONTENTS ORGANIZATIONOFTHISANNUALREPORTONFORM10-K TheorderandpresentationofcontentinthisAnnualReportonForm10-K("Form10-K")differsfromthetraditional U.S.SecuritiesandExchangeCommission("SEC")Form10-Kformat.McDonald'sCorporationbelievestheformatusedinthisForm10-Kimprovesreadabilityandbetterpresentshowitorganizesandmanagesitsbusiness.See"Form10-KCross-ReferenceIndex"foracross-referenceindextothetraditionalSECForm10-Kformat. Page Forward-LookingStatements3 AboutMcDonald's3 BusinessSummary3 Management'sDiscussionandAnalysisofFinancialConditionandResultsofOperations7 Management'sViewoftheBusiness7 2024FinancialPerformance8 StrategicDirection9 Outlook11 ConsolidatedOperatingResults12 CashFlows21 FinancialPositionandCapitalResources23 OtherMatters25 OtherKeyInformation26 StockPerformanceGraph26 MarketforRegistrant'sCommonEquity,RelatedStockholderMattersandIssuerPurchasesofEquity Securities27 RiskFactors28 Cybersecurity35 LegalProceedings37 Properties37 InformationAboutourExecutiveOfficers38 AvailabilityofCompanyInformation39 FinancialStatementsandSupplementaryData39 ControlsandProcedures69 SecurityOwnershipofCertainBeneficialOwnersandManagementandRelatedStockholderMatters69 ExhibitsandFinancialStatementSchedules70 Form10-KCross-ReferenceIndex72 Signatures73 Alltrademarksusedhereinarethepropertyoftheirrespectiveownersandareusedwithpermission. FORWARD-LOOKINGSTATEMENTS TheinformationinthisForm10-Kcontainsforward-lookingstatementsaboutfutureeventsandcircumstancesandtheireffectsuponrevenues