“So I think on the subsidies, I guess the headline would be we expect to spend in line with what we've said consistently for the year, $100 million to $150 million.”

In context

“a level playing field and McDonald's is on the same level as everybody else, we tend to win. And so even if this NLRB ruling were to pass, it's going to affect the industry at large, and we think we're better positioned than anybody else to withstand it. Mike Cieplak: Our next question is from Andy Barish with Jefferies. Andrew Barish: Good morning. Just shifting gears to IOM for a moment. Can you give us roughly how much of the $100 million to $150 million in subsidies has shown up so far? And then on the company-owned margin question, but related to IOM, I mean, this used to be 20% margin business, obviously, more pricing in the business today. Any thoughts longer term about kind of realizing back to 20% restaurant level margins in this segment? Ian Borden: Good morning, Andy, it's Ian. So I think on the subsidies, I guess the headline would be we expect to spend in line with what we've said consistently for the year, $100 million to $150 million. And so I think we're tracking in line with that where you'd expect us to be at this point in the year is what I would say on that. I think in terms of longer-term margins, I mean, if you go back over our 60-year history, I mean we've had obviously many periods of higher inflation that we've had to work through over time. We've always been able to kind of get margins back as we're able to continue to drive strong top line growth. And I certainly don't see any reason why that would be different this time. I mean I think we have - we're going to make sure, as you've heard us talk about today, that we stay really disciplined in how we're pricing to the consumer. We feel we've got a lot of capability, data and analytical capability that's allowing us to do that better than most. And we also ha”