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McDonald’s Corp. (MCD)


Statement of Financial Position, Assets

Difficulty: Beginner

The statement of financial position provides creditors, investors, and analysts with information on company’s resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company’s assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

McDonald’s Corp., Consolidated Statement of Financial Position, Assets

US$ in thousands

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Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Cash and equivalents 866,000  2,463,800  1,223,400  7,685,500  2,077,900 
Accounts and notes receivable 2,441,500  1,976,200  1,474,100  1,298,700  1,214,400 
Inventories, at cost, not in excess of market 51,100  58,800  58,900  100,100  110,000 
Prepaid expenses and other current assets 694,600  828,400  565,200  558,700  783,200 
Assets of businesses held for sale —  —  1,527,000  —  — 
Current assets 4,053,200  5,327,200  4,848,600  9,643,000  4,185,500 
Investments in and advances to affiliates 1,202,800  1,085,700  725,900  792,700  1,004,500 
Goodwill 2,331,500  2,379,700  2,336,500  2,516,300  2,735,300 
Miscellaneous 2,381,000  2,562,800  1,855,300  1,869,100  1,798,600 
Other assets 5,915,300  6,028,200  4,917,700  5,178,100  5,538,400 
Net property and equipment 22,842,700  22,448,300  21,257,600  23,117,600  24,557,500 
Long-term assets 28,758,000  28,476,500  26,175,300  28,295,700  30,095,900 
Total assets 32,811,200  33,803,700  31,023,900  37,938,700  34,281,400 

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).


Assets, Selected Items

Item Description The company
Current assets Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. McDonald’s Corp.’s current assets increased from 2016 to 2017 but then declined significantly from 2017 to 2018.
Net property and equipment Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. McDonald’s Corp.’s net property and equipment increased from 2016 to 2017 and from 2017 to 2018.
Long-term assets Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer. McDonald’s Corp.’s long-term assets increased from 2016 to 2017 and from 2017 to 2018.
Total assets Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. McDonald’s Corp.’s total assets increased from 2016 to 2017 but then slightly declined from 2017 to 2018.

Current Assets, Selected Items

Item Description The company
Cash and equivalents Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. McDonald’s Corp.’s cash and equivalents increased from 2016 to 2017 but then declined significantly from 2017 to 2018.
Accounts and notes receivable The aggregate of amounts due from customers or clients, within one year of the balance sheet date (or one operating cycle, if longer), for goods or services that have been delivered or sold in the normal course of business and an amount representing an agreement for an unconditional promise by the maker to pay the entity (holder) a definite sum of money at a future date within one year of the balance sheet, reduced to their estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection and net of any write-downs taken for collection uncertainty on the part of the holder, respectively. McDonald’s Corp.’s accounts and notes receivable increased from 2016 to 2017 and from 2017 to 2018.
Inventories, at cost, not in excess of market Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer. McDonald’s Corp.’s inventories, at cost, not in excess of market declined from 2016 to 2017 and from 2017 to 2018.