McDonald's Corp. announced consolidated earnings results for the fourth quarter and year ended December 31, 2012. For the quarter, the company announced total revenues of $6,952.1 million compared to $6,822.7 million for the same period a year ago. Operating income was $2,197.8 million compared to $2,120.0 million for the same period a year ago. Income before provision for income taxes was $2,068.0 million compared to $1,983.7 million for the same period a year ago. Net income was $1,396.1 million compared to $1,376.6 million for the same period a year ago. Earnings per share, diluted were $1.38 compared to $1.33 for the same period a year ago.

For the nine months, the company announced total revenues of $27,567.0 million compared to $27,006.0 million for the same period a year ago. Operating income was $8,604.6 million compared to $8,529.7 million for the same period a year ago. Income before provision for income taxes was $8,079.0 million compared to $8,012.2 million for the same period a year ago. Net income was $5,464.8 million compared to $5,503.1 million for the same period a year ago. Earnings per share, diluted were $5.36 compared to $5.27 for the same period a year ago.

For the near-term the company expects top and bottom-line growth to remain pressured, with January's global comparable sales expected to be negative. At current exchange rates, the company expects first quarter 2013 EPS to be minimally impacted, between $0.00 and negative $0.01, and expects full year positive impact of $0.04 to $0.05. Labor and depreciation are expected to continue to pressure margins.

In 2013, the company expects to invest about $3.2 billion, over 1/2 of which will be used to open 1,500 to 1,600 new restaurants. The breakdown for openings in its large geographic segments is as follows: 220 openings in the U.S.; 290 in Europe; and 850 in APMEA, including about 300 new restaurants in China. The remainder of the CapEx will be invested in the company's existing locations, including reimaging more than 1,600 restaurants globally.