SELLING GENERAL ADMINISTRATVE EXPENSES
Consolidated selling general and administrative expenses increased 4% (5% in constant currencies)
in 2014 and decreased 3% (3% in constant currencies) in 2013 The increase in 2014 was primarily due to higher empl0yee and other costs the 2014 winthe olympics and the worldwide owner/operator convention partly offset by a reduction in incentive-based compensation the decease in 2013 was due to lower incentive-based compensation partly offset by higher employee costs in addition 2013 benefited from the comparison to costs in 2012 related to the london olympics and the worldwide owner/operator convention
selling general and administrative expenses as a percent of revenues was 9.1% in 2014 8.5% in 2013 and 8.9% in 2012 selling general and administrative expenses as apercent of Systemwide sales was 2.8% in 2014 2.7% in 2013 and 2.8% in 2012 Management believs that analyzing selling general and administrative expenses as a percent of Systemwide sales as well as revenues is meaningful because these costs are inurred to support the overall Mcdonad's business