Stock Analysis on Net

McDonald’s Corp. (NYSE:MCD)

Income Statement 

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

McDonald’s Corp., consolidated income statement

US$ in thousands

Microsoft Excel
12 months ended: Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Sales by Company-operated restaurants 9,741,600 8,748,400 9,787,400 8,139,200 9,420,800
Revenues from franchised restaurants 15,436,500 14,105,800 13,085,400 10,726,100 11,655,700
Other revenues 315,600 328,400 350,100 342,500
Revenues 25,493,700 23,182,600 23,222,900 19,207,800 21,076,500
Food & paper (3,039,000) (2,737,300) (3,096,800) (2,564,200) (2,980,300)
Payroll & employee benefits (2,885,800) (2,617,400) (2,677,200) (2,416,400) (2,704,400)
Occupancy & other operating expenses (2,299,300) (2,026,200) (2,273,300) (2,000,600) (2,075,900)
Company-operated restaurant expenses (8,224,100) (7,380,900) (8,047,300) (6,981,200) (7,760,600)
Franchised restaurants, occupancy expenses (2,474,600) (2,349,700) (2,335,000) (2,207,500) (2,200,600)
Other restaurant expenses (232,500) (244,800) (260,400) (267,000)
Gross margin 14,562,500 13,207,200 12,580,200 9,752,100 11,115,300
Depreciation and amortization (381,700) (370,400) (329,700) (300,600) (262,500)
Other (2,435,200) (2,492,200) (2,377,800) (2,245,000) (1,966,900)
Selling, general & administrative expenses (2,816,900) (2,862,600) (2,707,500) (2,545,600) (2,229,400)
Gains on sales of restaurant businesses 103,000 59,800 96,600 23,300 127,500
Equity in earnings of unconsolidated affiliates 153,000 113,200 176,700 117,400 153,800
Asset dispositions and other income (expense), net 7,000 (136,800) (75,400) (290,700) (23,100)
Impairment and other gains (charges), net (361,900) (1,009,800) 285,400 267,500 (74,300)
Other operating income (expense), net (98,900) (973,600) 483,300 117,500 183,900
Operating income 11,646,700 9,371,000 10,356,000 7,324,000 9,069,800
Interest expense, net of capitalized interest (1,360,800) (1,207,000) (1,185,800) (1,218,100) (1,121,900)
Nonoperating income (expense), net 236,300 (338,600) (42,300) 34,800 70,200
Income before provision for income taxes 10,522,200 7,825,400 9,127,900 6,140,700 8,018,100
Provision for income taxes (2,053,400) (1,648,000) (1,582,700) (1,410,200) (1,992,700)
Net income 8,468,800 6,177,400 7,545,200 4,730,500 6,025,400

Based on: 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), 10-K (reporting date: 2019-12-31).

Income statement item Description The company
Revenues Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. McDonald’s Corp. revenues decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.
Operating income The net result for the period of deducting operating expenses from operating revenues. McDonald’s Corp. operating income decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.
Income before provision for income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. McDonald’s Corp. income before provision for income taxes decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.
Net income The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. McDonald’s Corp. net income decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.