Adjustments to Financial Statements
Advanced level
Adjustments to Current Assets
McDonald’s Corp., adjusted current assets
US$ in thousands
|
|
Dec 31, 2018 |
Dec 31, 2017 |
Dec 31, 2016 |
Dec 31, 2015 |
Dec 31, 2014 |
|
As Reported |
|
|
Current assets |
4,053,200 |
5,327,200 |
4,848,600 |
9,643,000 |
4,185,500 |
|
Adjustments |
|
|
Less: Current deferred tax assets (included in Current assets-prepaid expenses and other current assets)1 |
— |
— |
— |
— |
21,300 |
|
After Adjustment |
|
|
Adjusted current assets |
4,053,200 |
5,327,200 |
4,848,600 |
9,643,000 |
4,164,200 |
Based on:
10-K (filing date: 2019-02-22),
10-K (filing date: 2018-02-23),
10-K (filing date: 2017-03-01),
10-K (filing date: 2016-02-25),
10-K (filing date: 2015-02-24).
1 Current deferred tax assets (included in Current assets-prepaid expenses and other current assets). See details »
Adjustments to Total Assets
McDonald’s Corp., adjusted total assets
US$ in thousands
|
|
Dec 31, 2018 |
Dec 31, 2017 |
Dec 31, 2016 |
Dec 31, 2015 |
Dec 31, 2014 |
|
As Reported |
|
|
Total assets |
32,811,200 |
33,803,700 |
31,023,900 |
37,938,700 |
34,281,400 |
|
Adjustments |
|
|
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)1 |
9,938,824 |
9,673,356 |
10,093,270 |
10,084,719 |
10,332,652 |
|
|
Less: Current deferred tax assets (included in Current assets-prepaid expenses and other current assets)2 |
— |
— |
— |
— |
21,300 |
|
|
Less: Noncurrent deferred tax assets (included in Other assets, miscellaneous)3 |
1,219,400 |
867,900 |
804,000 |
532,800 |
591,200 |
|
After Adjustment |
|
|
Adjusted total assets |
41,530,624 |
42,609,156 |
40,313,170 |
47,490,619 |
44,001,552 |
Based on:
10-K (filing date: 2019-02-22),
10-K (filing date: 2018-02-23),
10-K (filing date: 2017-03-01),
10-K (filing date: 2016-02-25),
10-K (filing date: 2015-02-24).
1 Operating lease right-of-use asset (before adoption of FASB Topic 842). See details »
2 Current deferred tax assets (included in Current assets-prepaid expenses and other current assets). See details »
3 Noncurrent deferred tax assets (included in Other assets, miscellaneous). See details »
Adjustments to Current Liabilities
McDonald’s Corp., adjusted current liabilities
US$ in thousands
|
|
Dec 31, 2018 |
Dec 31, 2017 |
Dec 31, 2016 |
Dec 31, 2015 |
Dec 31, 2014 |
|
As Reported |
|
|
Current liabilities |
2,973,500 |
2,890,600 |
3,468,300 |
2,950,400 |
2,747,900 |
|
Adjustments |
|
|
Less: Current deferred tax liabilities (included in Liabilities of businesses held for sale)1 |
— |
— |
(185,600) |
— |
— |
|
After Adjustment |
|
|
Adjusted current liabilities |
2,973,500 |
2,890,600 |
3,653,900 |
2,950,400 |
2,747,900 |
Based on:
10-K (filing date: 2019-02-22),
10-K (filing date: 2018-02-23),
10-K (filing date: 2017-03-01),
10-K (filing date: 2016-02-25),
10-K (filing date: 2015-02-24).
1 Current deferred tax liabilities (included in Liabilities of businesses held for sale). See details »
Adjustments to Total Liabilities
McDonald’s Corp., adjusted total liabilities
US$ in thousands
|
|
Dec 31, 2018 |
Dec 31, 2017 |
Dec 31, 2016 |
Dec 31, 2015 |
Dec 31, 2014 |
|
As Reported |
|
|
Total liabilities |
39,069,600 |
37,071,700 |
33,228,200 |
30,850,800 |
21,428,000 |
|
Adjustments |
|
|
Add: Operating lease liability (before adoption of FASB Topic 842)1 |
9,938,824 |
9,673,356 |
10,093,270 |
10,084,719 |
10,332,652 |
|
|
Less: Current deferred tax liabilities (included in Liabilities of businesses held for sale)2 |
— |
— |
(185,600) |
— |
— |
|
|
Less: Noncurrent deferred tax liabilities3 |
1,215,500 |
1,119,400 |
1,817,100 |
1,704,300 |
1,624,500 |
|
|
Less: Deferred revenues, initial franchise fees |
627,800 |
— |
— |
— |
— |
|
After Adjustment |
|
|
Adjusted total liabilities |
47,165,124 |
45,625,656 |
41,689,970 |
39,231,219 |
30,136,152 |
Based on:
10-K (filing date: 2019-02-22),
10-K (filing date: 2018-02-23),
10-K (filing date: 2017-03-01),
10-K (filing date: 2016-02-25),
10-K (filing date: 2015-02-24).
1 Operating lease liability (before adoption of FASB Topic 842). See details »
2 Current deferred tax liabilities (included in Liabilities of businesses held for sale). See details »
3 Noncurrent deferred tax liabilities. See details »
Adjustments to Stockholders’ Equity
McDonald’s Corp., adjusted shareholders’ equity (deficit)
US$ in thousands
|
|
Dec 31, 2018 |
Dec 31, 2017 |
Dec 31, 2016 |
Dec 31, 2015 |
Dec 31, 2014 |
|
As Reported |
|
|
Shareholders’ equity (deficit) |
(6,258,400) |
(3,268,000) |
(2,204,300) |
7,087,900 |
12,853,400 |
|
Adjustments |
|
|
Less: Net deferred tax assets (liabilities)1 |
3,900 |
(251,500) |
(827,500) |
(1,171,500) |
(1,012,000) |
|
|
Add: Deferred revenues, initial franchise fees |
627,800 |
— |
— |
— |
— |
|
After Adjustment |
|
|
Adjusted shareholders’ equity (deficit) |
(5,634,500) |
(3,016,500) |
(1,376,800) |
8,259,400 |
13,865,400 |
Based on:
10-K (filing date: 2019-02-22),
10-K (filing date: 2018-02-23),
10-K (filing date: 2017-03-01),
10-K (filing date: 2016-02-25),
10-K (filing date: 2015-02-24).
Adjustments to Capitalization Table
McDonald’s Corp., adjusted capitalization table
US$ in thousands
|
|
Dec 31, 2018 |
Dec 31, 2017 |
Dec 31, 2016 |
Dec 31, 2015 |
Dec 31, 2014 |
|
As Reported |
|
|
Current maturities of long-term debt |
— |
— |
77,200 |
— |
— |
|
|
Long-term debt, excluding current maturities |
31,075,300 |
29,536,400 |
25,878,500 |
24,122,100 |
14,989,700 |
|
|
Total reported debt |
31,075,300 |
29,536,400 |
25,955,700 |
24,122,100 |
14,989,700 |
|
|
Shareholders’ equity (deficit) |
(6,258,400) |
(3,268,000) |
(2,204,300) |
7,087,900 |
12,853,400 |
|
|
Total reported capital |
24,816,900 |
26,268,400 |
23,751,400 |
31,210,000 |
27,843,100 |
|
Adjustments to Debt |
|
|
Add: Operating lease liability (before adoption of FASB Topic 842)1 |
9,938,824 |
9,673,356 |
10,093,270 |
10,084,719 |
10,332,652 |
|
|
Adjusted total debt |
41,014,124 |
39,209,756 |
36,048,970 |
34,206,819 |
25,322,352 |
|
Adjustments to Equity |
|
|
Less: Net deferred tax assets (liabilities)2 |
3,900 |
(251,500) |
(827,500) |
(1,171,500) |
(1,012,000) |
|
|
Add: Deferred revenues, initial franchise fees |
627,800 |
— |
— |
— |
— |
|
|
Adjusted shareholders’ equity (deficit) |
(5,634,500) |
(3,016,500) |
(1,376,800) |
8,259,400 |
13,865,400 |
|
After Adjustment |
|
|
Adjusted total capital |
35,379,624 |
36,193,256 |
34,672,170 |
42,466,219 |
39,187,752 |
Based on:
10-K (filing date: 2019-02-22),
10-K (filing date: 2018-02-23),
10-K (filing date: 2017-03-01),
10-K (filing date: 2016-02-25),
10-K (filing date: 2015-02-24).
1 Operating lease liability (before adoption of FASB Topic 842). See details »
2 Net deferred tax assets (liabilities). See details »
Adjustments to Revenues
McDonald’s Corp., adjusted revenues
US$ in thousands
|
12 months ended |
Dec 31, 2018 |
Dec 31, 2017 |
Dec 31, 2016 |
Dec 31, 2015 |
Dec 31, 2014 |
|
As Reported |
|
|
Revenues |
21,025,200 |
22,820,400 |
24,621,900 |
25,413,000 |
27,441,300 |
|
Adjustment |
|
|
Add: Increase (decrease) in deferred revenues, initial franchise fees |
627,800 |
— |
— |
— |
— |
|
After Adjustment |
|
|
Adjusted revenues |
21,653,000 |
22,820,400 |
24,621,900 |
25,413,000 |
27,441,300 |
Based on:
10-K (filing date: 2019-02-22),
10-K (filing date: 2018-02-23),
10-K (filing date: 2017-03-01),
10-K (filing date: 2016-02-25),
10-K (filing date: 2015-02-24).
Adjustments to Reported Income
McDonald’s Corp., adjusted net income
US$ in thousands
|
12 months ended |
Dec 31, 2018 |
Dec 31, 2017 |
Dec 31, 2016 |
Dec 31, 2015 |
Dec 31, 2014 |
|
As Reported |
|
|
Net income |
5,924,300 |
5,192,300 |
4,686,500 |
4,529,300 |
4,757,800 |
|
Adjustments |
|
|
Add: Deferred income tax expense (benefit)1 |
102,600 |
(36,400) |
(538,600) |
(1,400) |
(90,700) |
|
|
Add: Increase (decrease) in deferred revenues, initial franchise fees |
627,800 |
— |
— |
— |
— |
|
|
Add: Other comprehensive income (loss), net of tax |
(431,100) |
914,500 |
(213,100) |
(1,360,100) |
(1,947,300) |
|
After Adjustment |
|
|
Adjusted net income |
6,223,600 |
6,070,400 |
3,934,800 |
3,167,800 |
2,719,800 |
Based on:
10-K (filing date: 2019-02-22),
10-K (filing date: 2018-02-23),
10-K (filing date: 2017-03-01),
10-K (filing date: 2016-02-25),
10-K (filing date: 2015-02-24).