Calculate ROI for geographic segments; analyze results—McDonald’s Corp. McDonald’s conducts operations worldwide and is managed in two primary geographic segments: U.S., and International Operated Markets, which is comprised of Australia, Canada, France, Germany, Italy, the Netherlands, Russia, Spain, and the U.K. A hybrid geographic/corporate segment, International Developmental Licensed Markets & Corporate, reports on the results of all other countries as well as any unallocated amounts. McDonald’s allocates resources to, and evaluates the performance of, its segments based on operating income. The asset totals disclosed by geography are directly managed by those regions and include accounts receivable, inventory, certain fixed assets, and certain other assets. Corporate assets include corporate cash and cash equivalents, asset portions of financial instruments, and home office facilities. Refer to the following geographic segment data (in millions) from the 2020 annual report of McDonald’s Corp.:
