This document is McDonald's Corporation's quarterly report on Form 10-Q filed with the United States Securities and Exchange Commission, covering the period ended June 30, 2025. It presents the company's unaudited condensed consolidated financial statements, including the balance sheet, income statement, statement of comprehensive income, cash flows, and shareholders' equity. The report also provides a management discussion and analysis of financial condition and results of operations, outlining McDonald's Accelerating the Arches growth strategy, its various business segments (U.S., International Operated Markets, and International Developmental Licensed Markets & Corporate), and an outlook for 2025. Furthermore, it includes risk factors that could impact the company's performance, such as competition, operational challenges, regulatory changes, and macroeconomic conditions.

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