Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
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McDonald’s Corp., common-size consolidated balance sheet: liabilities and stockholders’ equity
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
- Short-term borrowings and current maturities of long-term debt
- The proportion decreased from 4.26% in 2020 to 3.9% in 2023, with data missing for some years, suggesting a moderate reduction in reliance on short-term debt relative to total liabilities and equity.
- Accounts payable
- There is a gradual increase from 1.41% in 2020 to a peak of 1.96% in 2023, followed by a slight decrease to 1.86% in 2024, indicating stable but slightly increasing obligations to suppliers as a share of total liabilities and equity.
- Current operating lease liability
- A declining trend is observed, from 1.33% in 2020 to 1.13% in 2024, reflecting reduced current obligations under operating leases.
- Current finance lease liability
- The data begins at 0.04% in 2022, increases to 0.08% in 2023, and then falls to 0.02% in 2024, indicating fluctuating short-term finance lease obligations but at relatively low levels.
- Current lease liability
- This liability showed a steady decline from 1.33% in 2020 to 1.15% in 2024, consistent with reductions in operating lease liabilities.
- Income taxes (current)
- Values decreased from 1.41% in 2020 to 0.55% in 2022, spiked to 1.26% in 2023, then dropped again to 0.65% in 2024, indicating variability in current income tax obligations relative to total financing.
- Other taxes
- These liabilities remained relatively stable, fluctuating slightly but hovering around 0.4%-0.5% during the period.
- Accrued interest
- There is a gradual increase from 0.74% in 2020 to 0.87% in 2024, suggesting rising interest expense accruals as a proportion of total liabilities and equity.
- Accrued payroll and other liabilities
- Initially growing from 2.16% in 2020 to 2.55% in 2023, this metric declined to 2.05% in 2024, reflecting some volatility in short-term accrued obligations to employees and others.
- Current liabilities (aggregate)
- The percentage dropped markedly from 11.75% in 2020 to 7.46% in 2021 and 7.54% in 2022, rose sharply to 12.22% in 2023, and then decreased to 7% in 2024, indicating significant fluctuation in short-term obligations.
- Long-term debt, excluding current maturities
- This item stayed high throughout, ranging between 66.15% and 71.19%, peaking in 2022 before slightly declining and then rising again, denoting consistent substantial leverage on a long-term basis.
- Long-term operating lease liability
- A continuous decline from 25.31% in 2020 to 20.15% in 2024 signals a reduction in long-term operating lease commitments over the period.
- Long-term finance lease liability
- Absent until 2022 at 2.58%, it increased steadily to 3.21% by 2024, showing rising long-term finance lease obligations.
- Long-term lease liability (total)
- There is a slight downward trend from 25.31% in 2020 to 23.36% in 2024, reflecting the combined effects of decreasing operating lease and increasing finance lease liabilities.
- Long-term income taxes
- This liability sharply decreased from 3.74% in 2020 to 0.62% in 2024, indicating a significant reduction in deferred or long-term tax obligations.
- Deferred revenues, initial franchise fees
- These remained relatively steady with a slight increase from 1.33% in 2020 to 1.41% in 2024, indicating stable deferral of franchise-related income.
- Other long-term liabilities
- Declined gradually from 2% in 2020 to 1.4% in 2024, showing a reduction in miscellaneous long-term obligations.
- Deferred income taxes
- The percentage held relatively constant around 3.8%-4.0% until a dip to 2.99% in 2023, then rose to 3.47% in 2024, showing some variability in tax deferrals.
- Long-term liabilities (aggregate)
- Total long-term liabilities decreased from over 103% in 2020 to under 100% in 2024, indicating a gradual deleveraging in long-term commitments relative to total financing.
- Total liabilities
- Total liabilities as a share of total liabilities and shareholders’ equity decreased overall from 114.87% in 2020 to 106.88% in 2024, reflecting a modest reduction in total liabilities relative to the combined financing base.
- Common stock
- The proportion remained stable at 0.03% throughout the entire period, indicating no significant changes in common stock relative to total financing.
- Additional paid-in capital
- This metric increased from 15.02% in 2020 to 16.82% in 2024, indicating incremental capital contributions or retained earnings reinvested as equity over time.
- Retained earnings
- There was a notable increase from 102.43% in 2020 to 121.11% in 2024, showing strong accumulation of profits retained within the company.
- Accumulated other comprehensive loss
- This negative figure fluctuated slightly but remained around -4.5%, indicating consistent but moderate comprehensive losses affecting equity.
- Common stock in treasury
- The sizable negative value grew from -127.44% in 2020 to -140.22% in 2024, indicating increasing treasury stock holdings that reduce total shareholders’ equity.
- Shareholders’ equity (deficit)
- Although negative throughout, the equity deficit decreased from -14.87% in 2020 to -6.88% in 2024, demonstrating an improving equity position over the period.
- Total liabilities and shareholders’ equity
- Constantly normalized to 100%, serving as a baseline for the ratio calculations.