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Microsoft Excel LibreOffice Calc

McDonald’s Corp. (MCD)


Adjustments to Financial Statements

Difficulty: Advanced


Adjustments to Current Assets

McDonald’s Corp., adjusted current assets

US$ in thousands

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
As Reported
Current assets hidden hidden hidden hidden hidden
Adjustments
Less: Current deferred tax assets (included in Current assets-prepaid expenses and other current assets)1 hidden hidden hidden hidden hidden
After Adjustment
Adjusted current assets hidden hidden hidden hidden hidden

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

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
As Reported
Total assets hidden hidden hidden hidden hidden
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)1 hidden hidden hidden hidden hidden
Less: Current deferred tax assets (included in Current assets-prepaid expenses and other current assets)2 hidden hidden hidden hidden hidden
Less: Noncurrent deferred tax assets (included in Other assets, miscellaneous)3 hidden hidden hidden hidden hidden
After Adjustment
Adjusted total assets hidden hidden hidden hidden hidden

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

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
As Reported
Current liabilities hidden hidden hidden hidden hidden
Adjustments
Less: Current deferred tax liabilities (included in Liabilities of businesses held for sale)1 hidden hidden hidden hidden hidden
After Adjustment
Adjusted current liabilities hidden hidden hidden hidden hidden

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

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
As Reported
Total liabilities hidden hidden hidden hidden hidden
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)1 hidden hidden hidden hidden hidden
Less: Current deferred tax liabilities (included in Liabilities of businesses held for sale)2 hidden hidden hidden hidden hidden
Less: Noncurrent deferred tax liabilities3 hidden hidden hidden hidden hidden
Less: Deferred revenues, initial franchise fees hidden hidden hidden hidden hidden
After Adjustment
Adjusted total liabilities hidden hidden hidden hidden hidden

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

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
As Reported
Shareholders’ equity (deficit) hidden hidden hidden hidden hidden
Adjustments
Less: Net deferred tax assets (liabilities)1 hidden hidden hidden hidden hidden
Add: Deferred revenues, initial franchise fees hidden hidden hidden hidden hidden
After Adjustment
Adjusted shareholders’ equity (deficit) hidden hidden hidden hidden hidden

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 Net deferred tax assets (liabilities). See Details »


Adjustments to Capitalization Table

McDonald’s Corp., adjusted capitalization table

US$ in thousands

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
As Reported
Current maturities of long-term debt hidden hidden hidden hidden hidden
Long-term debt, excluding current maturities hidden hidden hidden hidden hidden
Total reported debt hidden hidden hidden hidden hidden
Shareholders’ equity (deficit) hidden hidden hidden hidden hidden
Total reported capital hidden hidden hidden hidden hidden
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)1 hidden hidden hidden hidden hidden
Adjusted total debt hidden hidden hidden hidden hidden
Adjustments to Equity
Less: Net deferred tax assets (liabilities)2 hidden hidden hidden hidden hidden
Add: Deferred revenues, initial franchise fees hidden hidden hidden hidden hidden
Adjusted shareholders’ equity (deficit) hidden hidden hidden hidden hidden
After Adjustment
Adjusted total capital hidden hidden hidden hidden hidden

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

Microsoft Excel LibreOffice Calc
12 months ended Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
As Reported
Revenues hidden hidden hidden hidden hidden
Adjustments
Add: Increase (decrease) in deferred revenues, initial franchise fees hidden hidden hidden hidden hidden
After Adjustment
Adjusted revenues hidden hidden hidden hidden hidden

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

Microsoft Excel LibreOffice Calc
12 months ended Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
As Reported
Net income hidden hidden hidden hidden hidden
Adjustments
Add: Deferred income tax expense (benefit)1 hidden hidden hidden hidden hidden
Add: Increase (decrease) in deferred revenues, initial franchise fees hidden hidden hidden hidden hidden
Add: Other comprehensive income (loss), net of tax hidden hidden hidden hidden hidden
After Adjustment
Adjusted net income hidden hidden hidden hidden hidden

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 Deferred income tax expense (benefit). See Details »