Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.
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McDonald’s Corp. pages available for free this week:
- Income Statement
- Statement of Comprehensive Income
- Balance Sheet: Assets
- Analysis of Liquidity Ratios
- Analysis of Solvency Ratios
- Analysis of Long-term (Investment) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Price to FCFE (P/FCFE)
- Dividend Discount Model (DDM)
- Net Profit Margin since 2005
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McDonald’s Corp., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
- Short-term borrowings and current maturities of long-term debt
- The short-term borrowings exhibit significant fluctuation over the periods. There is an initial spike in mid-2020, reaching a peak at June 30, 2020, followed by a sharp decline through 2021. After a period of missing data, the amounts rise again in 2024 and 2025, indicating variable short-term financing needs and possible refinancing activities.
- Accounts payable
- Accounts payable show a generally increasing trend from early 2020 through late 2021, peaking in December 2021. This is followed by fluctuations around somewhat elevated levels in 2022 and 2023, with a modest increase observed in 2024 and 2025. This pattern suggests growing supplier obligations with some volatility.
- Dividends payable
- Dividends payable data is available intermittently, with a notable amount in late 2020 and a spike again in early 2024. This inconsistency may reflect changes in dividend declarations or the timing of dividend payouts.
- Current lease liability
- Current lease liabilities remain relatively stable across the entire timeline, maintaining amounts in a narrow range with minor fluctuations. The stability indicates consistent lease obligations in the short term.
- Income taxes
- Income tax liabilities demonstrate pronounced volatility throughout the periods. There are peaks around December 2020 and March 2023, with lower values in mid-period 2022 and some sharp dips in 2025. This pattern may mirror varying profitability and tax payment schedules.
- Other taxes
- Other taxes remain relatively stable over the examined periods, fluctuating marginally but showing no discernible trend, indicating consistent other tax liabilities.
- Accrued interest
- Accrued interest shows moderate variability with an overall tendency to increase in later periods, especially from 2021 onward. This suggests rising interest expenses or increased borrowing.
- Accrued payroll and other liabilities
- This category displays an increasing trend from early 2020 to the end of 2021, followed by fluctuations in subsequent years. There is an overall upward trajectory over the entire period, indicating growing accrued liabilities related to payroll and other expenses.
- Current liabilities
- Current liabilities exhibit significant fluctuations, with a sharp increase in the first half of 2020 followed by a decline and variable levels thereafter. A notable spike is seen at year-end 2021 and again at year-end 2023. These variations suggest changing short-term obligations and liquidity management.
- Long-term debt, excluding current maturities
- Long-term debt remains broadly stable with moderate increases and decreases over time. There is a slight rising trend from 2023 to 2025, indicating a marginal increase in long-term borrowing or refinancing activities.
- Long-term lease liability
- Long-term lease liabilities tend to stay within a relatively narrow range throughout the periods, with minor fluctuations. A slight upward trend is noticed toward 2024 and 2025, which may suggest new or extended lease agreements.
- Long-term income taxes
- Long-term income tax liabilities generally decline over the period, with a notable decrease from 2021 onward. This decrease may reflect tax payments, credits, or changes in deferred tax obligations.
- Deferred revenues, initial franchise fees
- Deferred revenues from initial franchise fees show a gradual increase over time, indicating sustained or growing franchise-related deferred income.
- Other long-term liabilities
- Other long-term liabilities remain relatively stable with a slight downward trend observed from 2021 through 2025, suggesting a gradual reduction in miscellaneous long-term obligations.
- Deferred income taxes
- Deferred income taxes fluctuate over the period, with early increases and subsequent declines. A marked reduction is seen around 2024, which may indicate utilization of deferred tax assets or liabilities adjustments.
- Long-term liabilities
- Long-term liabilities hover within a consistent range, showing moderate fluctuations but no significant trend. The total tends to slightly increase during 2024 and 2025, aligning with the increase in long-term debt and lease liabilities.
- Total liabilities
- Total liabilities experience modest fluctuations, peaking around the end of 2023 and mid-2025, while showing a general downward trend through 2021 and early 2022. This pattern reflects changing debt, tax, and accrued liabilities.
- Common stock and additional paid-in capital
- Common stock remains unchanged throughout, indicating no new issuance or buybacks affecting common stock par value. Additional paid-in capital steadily increases over time, reflecting ongoing equity contributions or retained earnings capitalized into the account.
- Retained earnings
- Retained earnings show a consistent upward trend throughout the entire period, highlighting sustained profitability or earnings retention by the company.
- Accumulated other comprehensive loss
- The accumulated other comprehensive loss remains fairly stable with minor fluctuations, showing no clear improving or worsening trend over time.
- Common stock in treasury, at cost
- Treasury stock presents a consistent increasing negative balance, indicating ongoing repurchases of common stock over time and an increasing investment in treasury shares.
- Shareholders’ equity (deficit)
- Shareholders' equity deficit decreases in magnitude over the periods, moving toward less negative values. This trend suggests gradual improvement in equity position, but it remains in a deficit state.
- Total liabilities and shareholders’ equity (deficit)
- The total of liabilities and shareholders’ equity fluctuates moderately without strong directional trends, reflecting the combined effects of liabilities and equity changes described above.