Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
McDonald’s Corp., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
Based on: 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
- Short-term borrowings and current maturities of long-term debt
- This item shows significant variability over the periods, ranging from as low as 0.14% to peaks above 8%. The pattern is somewhat irregular, with no clear upward or downward trend, indicating fluctuating short-term debt obligations relative to total liabilities and shareholders’ equity.
- Accounts payable
- Accounts payable as a percentage of total liabilities and shareholders’ equity exhibited a gradual increase from early 2020 through late 2021, peaking around 1.87%. Thereafter, it fluctuated moderately between 1.4% and 1.96%, suggesting relative stability in trade payables within this range over recent periods.
- Dividends payable
- Data for dividends payable is sparse, but available points indicate occasional presence, with values around 1.95% and later increasing to 2.25%. This suggests periodic accumulation of dividends payable during certain quarters, possibly reflecting dividend declaration timings.
- Current lease liability
- Current lease liabilities display a stable and slightly declining trend from approximately 1.4% to about 1.15% across the timeline. The gradual decrease may indicate amortization of short-term lease obligations or lease restructuring effects.
- Income taxes
- Income tax liabilities show notable volatility, with peaks reaching above 1.5% and troughs falling below 0.1%. The fluctuations suggest varying tax payable amounts or changes in deferred tax positions, likely influenced by profit variability and tax planning.
- Other taxes
- This category remains relatively stable, hovering close to 0.4% to 0.5% consistently, indicating steady levels of non-income tax obligations as part of total liabilities and equity.
- Accrued interest
- Accrued interest fluctuates mildly, typically ranging between 0.6% and 0.87%, with a subtle upward tendency towards later periods. The increase may correspond to rising debt levels or interest rates over time.
- Accrued payroll and other liabilities
- There is variability in accrued payroll and other liabilities, with peaks above 3% and lows around 2%. The general pattern suggests fluctuations in accrued expenses possibly due to changes in payroll costs or timing of expense recognition.
- Current liabilities
- Current liabilities show moderate volatility with values mostly between 7% and 12%, peaking notably in certain quarters (e.g., 14.5% in early 2020 and 12.2% in late 2023). This variation reflects changing short-term obligations and working capital dynamics.
- Long-term debt, excluding current maturities
- Long-term debt comprises the largest proportion of total liabilities and equity, consistently around 65% to 75%. There is a general downward trend after mid-2023, moving from about 71.5% to around 65% by late 2025, suggesting gradual debt repayments or changes in capital structure.
- Long-term lease liability
- Long-term lease liabilities remain stable, fluctuating slightly around 23% to 25%. The minor decline observed towards the end of the period may relate to lease amortization or expirations.
- Long-term income taxes
- Long-term income tax liabilities show a marked decrease over the period, falling from over 4% to below 0.5%, indicating a significant reduction in deferred tax liabilities or utilizations of tax credits.
- Deferred revenues, initial franchise fees
- Deferred revenues linked to franchise fees maintain a steady proportion around 1.3% to 1.6%, signaling consistent recognition of these income sources in the long term.
- Other long-term liabilities
- There is a slow declining trend in other long-term liabilities, moving from nearly 2% down to about 1.15%, reflecting gradual reductions or settlements of these obligations.
- Deferred income taxes
- Deferred income taxes display some oscillation, mostly between 2% and 4%, with a slight downward drift in the later periods, indicating changes in timing differences and tax deferrals.
- Long-term liabilities
- Total long-term liabilities remain substantial, ranging around 93% to 110%. A gradual decline can be seen from earlier to later periods, suggesting overall reduction of long-term debts and obligations relative to total liabilities and equity.
- Total liabilities
- Total liabilities as a percentage of total liabilities and shareholders’ equity decline moderately from nearly 119% in early periods to slightly above 103% by the end. This shows a trend toward improved balance sheet leverage ratios.
- Common stock
- Common stock remains constant at 0.03% throughout the periods, consistent with no significant changes in par value or issuance.
- Additional paid-in capital
- Additional paid-in capital gradually increased from roughly 15.25% to peaks around 17.4%, followed by some decline, ending near 15.8%, implying periodic adjustments in equity contributions.
- Retained earnings
- Retained earnings show an overall upward trend from about 105% to peaks exceeding 121%, declining somewhat in later periods but maintaining higher levels compared to the start. This indicates accumulation of earnings over time despite some variability.
- Accumulated other comprehensive loss
- The accumulated other comprehensive loss consistently remains a negative component around -6% to -4%, with a slight improvement (reduction in negative balance) over time.
- Common stock in treasury, at cost
- Treasury stock represents a large negative balance ranging from about -132% to -146%, with fluctuations indicating ongoing buyback activities, treasury stock retirements, or repurchases impacting equity negatively.
- Shareholders’ equity (deficit)
- The company exhibits a persistent equity deficit throughout all periods, with values improving modestly from nearly -18% to around -3.5%. This gradual reduction in negative equity suggests some recovery but continuation of deficit balances relative to liabilities.
- Total liabilities and shareholders’ equity (deficit)
- The total always sums to 100%, serving as the basis for all percentage analyses and confirming consistent accounting totals across the reported periods.