Stock Analysis on Net

McDonald’s Corp. (NYSE:MCD)

$24.99

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., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

US$ in millions

Microsoft Excel
Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Short-term borrowings and current maturities of long-term debt
Accounts payable
Dividends payable
Current lease liability
Income taxes
Other taxes
Accrued interest
Accrued payroll and other liabilities
Current liabilities
Long-term debt, excluding current maturities
Long-term lease liability
Long-term income taxes
Deferred revenues, initial franchise fees
Other long-term liabilities
Deferred income taxes
Long-term liabilities
Total liabilities
Preferred stock, no par value; issued: none
Common stock, $.01 par value
Additional paid-in capital
Retained earnings
Accumulated other comprehensive loss
Common stock in treasury, at cost
Shareholders’ equity (deficit)
Total liabilities and shareholders’ equity (deficit)

Based on: 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 values showed significant volatility, with a peak at 4,087 million US$ in June 2020 followed by a decline and a period of missing data. Renewed activity appears in late 2023 and early 2024, but with fluctuating amounts generally below 2,200 million US$.
Accounts payable
Accounts payable recorded a generally upward trajectory from approximately 670 million US$ early in 2020 to a high above 1,100 million US$ by the end of 2023, indicating an increase in outstanding obligations to suppliers over time.
Dividends payable
Dividends payable data is sporadic, appearing only with values around 1,027 million US$ in 2021 and reaching 1,265 million US$ in early 2024, signaling intermittent reporting or dividend payout events.
Current lease liability
Current lease liabilities remained relatively stable through the analyzed periods, fluctuating narrowly between roughly 630 million US$ and 720 million US$, suggesting steady short-term lease commitments.
Income taxes
Income taxes exhibited considerable fluctuations, with peaks in the fourth quarter of 2020 and early 2024 exceeding 700 million US$, interspersed with lower tax payments, reflecting variable taxable income or tax planning activities.
Other taxes
Other taxes were relatively stable, mostly ranging between 190 million US$ and 280 million US$, indicating consistent periodic tax obligations outside income taxes.
Accrued interest
Accrued interest showed an overall gradual increase, rising from around 300 million US$ in early 2020 to peak near 480 million US$ by late 2024, which may reflect changes in debt levels or interest rates.
Accrued payroll and other liabilities
This category demonstrated volatility, with an initial increase reaching over 1,600 million US$ in early 2021, followed by declines and renewed fluctuations in 2022 and beyond, highlighting variable employee-related and other accrued expenses.
Current liabilities
Current liabilities displayed significant volatility, moving between approximately 3,400 million US$ and 7,000 million US$ across quarters, indicating changing short-term financial obligations and operational liquidity conditions.
Long-term debt, excluding current maturities
Long-term debt remained relatively stable around 34,000 to 39,000 million US$, with modest fluctuations, suggesting consistent leverage with slight increases toward the end of the period.
Long-term lease liability
Long-term lease liabilities hovered steadily between 12,000 million US$ and 13,300 million US$, demonstrating ongoing long-term lease commitments with minor decreases and recoveries.
Long-term income taxes
Long-term income taxes showed a marked declining trend from approximately 2,150 million US$ in early 2020 to under 400 million US$ in 2024, reflecting significant reductions in deferred tax liabilities.
Deferred revenues, initial franchise fees
Deferred revenue from initial franchise fees exhibited a gradual increase from 655 million US$ to above 900 million US$ toward early 2025, indicating growing franchise-related advance payments.
Other long-term liabilities
Other long-term liabilities decreased steadily over the period from around 890 million US$ to about 750 million US$, suggesting reductions in miscellaneous long-term obligations.
Deferred income taxes
Deferred income taxes showed variable trends, peaking around 2,250 million US$ and declining in some quarters down to 1,160 million US$, indicating changes in deferred tax assets and liabilities over time.
Long-term liabilities
Total long-term liabilities remained broadly steady around 52,000 to 55,000 million US$, with minor fluctuations reflecting the net effect of various long-term debt and liability components.
Total liabilities
Total liabilities displayed a generally downward movement from 59,861 million US$ early 2020 to a low near 55,000 million US$ between 2022 and early 2023, followed by a rebound to above 61,000 million US$ in late 2024, indicating variable debt and obligations levels over the analyzed period.
Common stock and Additional paid-in capital
Common stock remained constant at 17 million US$, while additional paid-in capital showed steady incremental growth from about 7,700 million US$ to over 9,400 million US$, reflecting ongoing equity financing or share-related transactions.
Retained earnings
Retained earnings increased consistently from around 53,100 million US$ to above 67,400 million US$, indicating accumulation of profits retained in the business over the period.
Accumulated other comprehensive loss
Accumulated other comprehensive loss fluctuated around negative 2,500 million US$, showing some periods of reduced loss but generally remaining at similar levels, highlighting persistent unrealized losses or valuation changes.
Common stock in treasury
Common stock held in treasury expanded significantly from approximately negative 67,100 million US$ to nearly negative 77,800 million US$, signaling substantial share repurchases or buybacks.
Shareholders’ equity (deficit)
Shareholders’ equity was negative throughout the period but showed phases of improvement and deterioration, initially at negative 9,200 million US$ improving toward negative 3,400 million US$ by early 2025, indicating fluctuations in net assets influenced by retained earnings growth and treasury stock increases.
Total liabilities and shareholders’ equity
This aggregate figure fluctuated moderately between about 49,000 million US$ and 56,000 million US$, reflecting the combined variations in liabilities and equity over time.