Microsoft Excel LibreOffice Calc

McDonald’s Corp. (MCD)


Adjustments to Financial Statements

Advanced level


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 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

Microsoft Excel LibreOffice Calc
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

Microsoft Excel LibreOffice Calc
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

Microsoft Excel LibreOffice Calc
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

Microsoft Excel LibreOffice Calc
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).

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 —  —  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

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 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

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 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).

1 Deferred income tax expense (benefit). See details »