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/FIRST AND FINAL ADD -- MCDONALD'S RESULTS/

 /FIRST AND FINAL ADD -- MCDONALD'S RESULTS/
 McDONALD'S CORPORATION
 Financial Information
 Year Ended December 31
 SYSTEMWIDE SALES Increase(Decrease)
 1991 1990 $ %
 U.S. (Dollars in millions)
 Operated by franchisees $ 9,873.8 $ 9,378.2 495.6 5
 Operated by the Company 2,409.8 2,654.6 (244.8) (9)
 Operated by affiliates 235.8 218.8 17.0 8
 Subtotal 12,519.4 12,251.6 267.8 2
 Outside of the U.S.
 Operated by franchisees 3,084.7 2,638.4 446.3 17
 Operated by the Company 2,498.7 2,364.3 134.4 6
 Operated by affiliates 1,825.4 1,504.6 320.8 21
 Subtotal 7,408.8 6,507.3 901.5 14
 TOTAL $19,928.2 $18,758.9 1,169.3 6
 By Type
 Operated by franchisees $12,958.5 $12,016.6 941.9 8
 Operated by the Company 4,908.5 5,018.9 (110.4) (2)
 Operated by affiliates 2,061.2 1,723.4 337.8 20
 TOTAL $19,928.2 $18,758.9 1,169.3 6
 TOTAL REVENUES
 U.S. $ 3,710.2 $ 3,871.0 (160.8) (4)
 Outside of the U.S. 2,984.8 2,768.6 216.2 8
 TOTAL $ 6,695.0 $ 6,639.6 55.4 1
 OPERATING INCOME
 U.S. $ 1,000.4 $ 986.2 14.2 1
 Outside of the U.S. 678.1 609.7 68.4 11
 TOTAL $ 1,678.5 $ 1,595.9 82.6 5
 PERCENT CONTRIBUTION TO CONSOLIDATED MARGINS
 Company-operated Franchised
 1991 1990 1991 1990
 U.S. 47 49 73 76
 Outside of the U.S. 53 51 27 24
 TOTAL 100 100 100 100
 Restaurant Information
 At December 31
 SYSTEMWIDE SALES Increase(Decrease)
 1991 1990 No. %
 U.S.
 Operated by franchisees 7,149 6,780 369 5
 Operated by the company 1,446 1,632 (186) (11)
 Operated by affiliates 169 164 5 3
 Subtotal 8,764 8,576 188 2
 Outside of the U.S.
 Operated by franchisees 1,586 1,351 235 17
 Operated by the company 1,101 1,011 90 9
 Operated by affiliates 967 865 102 12
 Subtotal 3,654 3,227 427 13
 TOTAL 12,418 11,803 615 5
 By Type
 Operated by franchisees 8,735 8,131 604 7
 Operated by the company 2,547 2,643 (96) (4)
 Operated by affiliates 1,136 1,029 107 10
 TOTAL 12,418 11,803 615 5
 Detail of Major Markets Outside of the U.S.
 Japan 865 776
 Canada 642 626
 England 400 356
 Germany 391 349
 Australia 304 269
 France 193 150
 Other 859 701
 Total 3,654 3,227
 McDONALD'S CORPORATION
 Condensed Consolidated Statement of Income
 (Dollars and shares in millions, except per common share amounts)
 Year Ended December 31
 Increase (Decrease)
 1991 1990 $ %
 SYSTEMWIDE SALES $19,928.2 $18,758.9 1,169.3 6
 Revenues
 Sales by company-operated
 restaurants $ 4,908.5 $ 5,018.9 (110.4) (2)
 Revenues from franchised
 restaurants 1,786.5 1,620.7 165.8 10
 TOTAL REVENUES 6,695.0 6,639.6 55.4 1
 Operating costs and expenses
 Company-operated restaurants 4,029.1 4,135.6 (106.5) (3)
 Franchised restaurants--occupancy
 costs 306.5 279.2 27.3 10
 General, administrative and
 selling expenses 794.7 724.2 70.5 10
 Other operating (income)
 expense--net (113.8) (95.3) (18.5) 19
 Total operating costs
 and expenses 5,016.5 5,043.7 (27.2) (1)
 OPERATING INCOME 1,678.5 1,595.9 82.6 5
 Interest expense 391.4 381.2 10.2 3
 Nonoperating income
 (expense)--net 12.3 31.6 (19.3) (61)
 Income before provision for
 income taxes 1,299.4 1,246.3 53.1 4
 Provision for income taxes 439.8 444.0 (4.2) (1)
 NET INCOME $ 859.6 $ 802.3 57.3 7
 NET INCOME PER COMMON SHARE(A) $ 2.35 $ 2.20 .15 7
 Weighted average common
 shares outstanding 358.1 359.0
 Fourth Quarter Ended December 31
 Increase (Decrease)
 1991 1990 $ %
 SYSTEMWIDE SALES $5,169.6 $4,820.1 349.5 7
 Revenues
 Sales by company-operated
 restaurants $ 1,261.7 $ 1,283.1 (21.4) (2)
 Revenues from franchised
 restaurants 468.1 420.0 48.1 11
 TOTAL REVENUES 1,729.8 1,703.1 26.7 2
 Operating costs and expenses
 Company-operated restaurants 1,034.2 1,067.6 (33.4) (3)
 Franchised restaurants--occupancy
 costs 81.3 75.6 5.7 8
 General, administrative and
 selling expenses 208.8 191.1 17.7 9
 Other operating (income)
 expense--net (4.7) (17.8) 13.1 (74)
 Total operating costs
 and expenses 1,319.6 1,316.5 3.1 --
 OPERATING INCOME 410.2 386.6 23.6 6
 Interest expense 98.7 101.3 (2.6) (3)
 Nonoperating income
 (expense)--net (8.6) 1.2 (9.8) NM
 Income before provision for
 income taxes 302.9 286.5 16.4 6
 Provision for income taxes 102.5 100.3 2.2 2
 NET INCOME $ 200.4 $ 186.2 14.2 8
 NET INCOME PER COMMON SHARE(A) $ .54 $ .51 .03 6
 Weighted average common
 shares outstanding 358.1 359.0
 (A) -- Computed using net income reduced by preferred stock dividends of $19.2 and $14.0 million for 1991 and 1990, respectively; and $5.3 and $3.5 million for the fourth quarters of 1991 and 1990, respectively.
 /END OF FIRST AND FINAL ADD/
 -0- 1/29/92 AA CL019
 /CONTACT: Sharon Vuinovich (investors), 708-575-3395; or Chuck Ebeling (media), 708-575-6150, both of McDonald's Corporation/
 (MCD) CO: McDonald's Corporation ST: Illinois IN: REA SU: ERN


DA -- CL019A -- 4897 01/29/92 16:18 EST
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Date:Jan 29, 1992
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