|
|
Article: McDonald's Reports Record $3.3 Billion Cash Flow for 2003; Releases 2003 Cash Flow Statement.
- Article from:
- PR Newswire
- Article date:
- February 17, 2004
CopyrightCOPYRIGHT 2004 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
McDonald's Corporation today announced that it generated a record $3.3 billion of cash from operations in 2003. Increased sales at existing restaurants drove the record cash flow. Capital expenditures for 2003 were $1.3 billion, $700 million less than 2002. In 2003, $617 million was invested in new restaurants, $564 million was reinvested in existing restaurants, and $126 million was invested in technology and other expenditures. By segment, capital expenditures were $482 million in the U.S., $405 million in Europe, and $122 million in APMEA in 2003.
Jim Cantalupo, Chairman and Chief Executive Officer, said, "The revitalization work we have done so far has ...