Stock Analysis on Net
Stock Analysis on Net
Microsoft Excel LibreOffice Calc

McDonald’s Corp. (NYSE:MCD)

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Analysis of Debt

Advanced level

Total Debt (Carrying Amount)

McDonald’s Corp., balance sheet: debt

US$ in thousands

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Current maturities of long-term debt
Long-term debt, excluding current maturities
Total debt obligations (carrying amount)

Based on: 10-K (filing date: 2021-02-23), 10-K (filing date: 2020-02-26), 10-K (filing date: 2019-02-22), 10-K (filing date: 2018-02-23), 10-K (filing date: 2017-03-01).

Debt item Description The company
Total debt obligations (carrying amount) Sum of the carrying values as of the balance sheet date of all debt plus capital lease obligations. McDonald’s Corp.’s total debt increased from 2018 to 2019 and from 2019 to 2020.

Total Debt (Fair Value)

Microsoft Excel LibreOffice Calc
Dec 31, 2020
Selected Financial Data (US$ in thousands)
Total debt obligations (fair value)
Financial Ratio
Debt, fair value to carrying amount ratio

Based on: 10-K (filing date: 2021-02-23).


Weighted-average Interest Rate on Debt

Weighted-average effective interest rate on debt obligations:

Interest rate Debt amount1 Interest rate × Debt amount Weighted-average interest rate2
Total

Based on: 10-K (filing date: 2021-02-23).

1 US$ in thousands

2 Weighted-average interest rate = 100 × ÷ =


Interest Costs Incurred

McDonald’s Corp., interest costs incurred

US$ in thousands

Microsoft Excel LibreOffice Calc
12 months ended: Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Interest expense
Capitalized interest
Interest costs incurred

Based on: 10-K (filing date: 2021-02-23), 10-K (filing date: 2020-02-26), 10-K (filing date: 2019-02-22), 10-K (filing date: 2018-02-23), 10-K (filing date: 2017-03-01).

Debt item Description The company
Interest expense Amount of the cost of borrowed funds accounted for as interest expense for debt. McDonald’s Corp.’s interest expense increased from 2018 to 2019 and from 2019 to 2020.
Capitalized interest Amount of interest costs capitalized disclosed as an adjusting item to interest costs incurred. McDonald’s Corp.’s capitalized interest increased from 2018 to 2019 but then slightly decreased from 2019 to 2020 not reaching 2018 level.
Interest costs incurred Total interest costs incurred during the period and either capitalized or charged against earnings. McDonald’s Corp.’s interest costs incurred increased from 2018 to 2019 and from 2019 to 2020.

Adjusted Interest Coverage Ratio

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in thousands)
Net income
Add: Income tax expense
Add: Interest expense, net of capitalized interest
Earnings before interest and tax (EBIT)
 
Interest costs incurred
Financial Ratio With and Without Capitalized Interest
Interest coverage ratio (without capitalized interest)1
Adjusted interest coverage ratio (with capitalized interest)2

Based on: 10-K (filing date: 2021-02-23), 10-K (filing date: 2020-02-26), 10-K (filing date: 2019-02-22), 10-K (filing date: 2018-02-23), 10-K (filing date: 2017-03-01).

2020 Calculations

1 Interest coverage ratio (without capitalized interest) = EBIT ÷ Interest expense, net of capitalized interest
= ÷ =

2 Adjusted interest coverage ratio (with capitalized interest) = EBIT ÷ Interest costs incurred
= ÷ =


Solvency ratio Description The company
Adjusted interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments (including capitalized interest). McDonald’s Corp.’s adjusted interest coverage ratio deteriorated from 2018 to 2019 and from 2019 to 2020.