$MCD
MCDONALDS CORP

2016 Q1 Form 10-Q Financial Statement

#000006390816000121 Filed on May 06, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q1
Revenue $5.904B $5.959B
YoY Change -0.92% -11.07%
Cost Of Revenue $3.590B $3.758B
YoY Change -4.46% -10.19%
Gross Profit $2.314B $2.201B
YoY Change 5.11% -12.52%
Gross Profit Margin 39.19% 36.94%
Selling, General & Admin $578.0M $582.8M
YoY Change -0.82% -6.06%
% of Gross Profit 24.98% 26.48%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $383.7M $386.1M
YoY Change -0.62% -5.92%
% of Gross Profit 16.59% 17.54%
Operating Expenses $578.0M $582.8M
YoY Change -0.82% -6.06%
Operating Profit $1.780B $1.386B
YoY Change 28.5% -28.43%
Interest Expense $218.3M $147.3M
YoY Change 48.2% 8.71%
% of Operating Profit 12.26% 10.63%
Other Income/Expense, Net $14.40M $15.90M
YoY Change -9.43% -192.44%
Pretax Income $1.576B $1.254B
YoY Change 25.7% -29.68%
Income Tax $451.6M $442.6M
% Of Pretax Income 28.65% 35.29%
Net Earnings $1.125B $811.5M
YoY Change 38.61% -32.64%
Net Earnings / Revenue 19.05% 13.62%
Basic Earnings Per Share $1.27 $0.84
Diluted Earnings Per Share $1.25 $0.84
COMMON SHARES
Basic Shares Outstanding 888.9M shares 960.6M shares
Diluted Shares Outstanding 896.3M shares 965.5M shares

Balance Sheet

Concept 2016 Q1 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.310B $1.635B
YoY Change 102.45% -40.42%
Cash & Equivalents $3.310B $1.635B
Short-Term Investments
Other Short-Term Assets $486.0M $767.0M
YoY Change -36.64% 1.32%
Inventory $93.70M $98.80M
Prepaid Expenses
Receivables $1.162B $1.092B
Other Receivables $0.00 $0.00
Total Short-Term Assets $5.052B $3.593B
YoY Change 40.6% -25.71%
LONG-TERM ASSETS
Property, Plant & Equipment $23.42B $23.30B
YoY Change 0.52% -9.16%
Goodwill $2.570B $2.594B
YoY Change -0.91% -10.31%
Intangibles
YoY Change
Long-Term Investments $820.0M $901.0M
YoY Change -8.99% -26.39%
Other Assets $1.932B $1.767B
YoY Change 9.34% -0.02%
Total Long-Term Assets $28.74B $28.56B
YoY Change 0.63% -9.42%
TOTAL ASSETS
Total Short-Term Assets $5.052B $3.593B
Total Long-Term Assets $28.74B $28.56B
Total Assets $33.80B $32.16B
YoY Change 5.1% -11.59%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $654.5M $702.0M
YoY Change -6.77% -15.23%
Accrued Expenses $1.906B $1.678B
YoY Change 13.59% -3.78%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.859B $2.752B
YoY Change 3.88% -11.26%
LONG-TERM LIABILITIES
Long-Term Debt $23.35B $14.29B
YoY Change 63.4% 3.37%
Other Long-Term Liabilities $2.061B $1.998B
YoY Change 3.16% 17.05%
Total Long-Term Liabilities $25.41B $16.29B
YoY Change 56.01% 4.88%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.859B $2.752B
Total Long-Term Liabilities $25.41B $16.29B
Total Liabilities $28.27B $19.04B
YoY Change 48.48% 2.19%
SHAREHOLDERS EQUITY
Retained Earnings $44.91B $43.29B
YoY Change 3.75% 2.69%
Common Stock $16.60M $16.60M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $44.75B $35.73B
YoY Change 25.24% 9.85%
Treasury Stock Shares 782.8M shares 702.1M shares
Shareholders Equity $3.863B $11.40B
YoY Change
Total Liabilities & Shareholders Equity $33.80B $32.16B
YoY Change 5.1% -11.59%

Cashflow Statement

Concept 2016 Q1 2015 Q1
OPERATING ACTIVITIES
Net Income $1.125B $811.5M
YoY Change 38.61% -32.64%
Depreciation, Depletion And Amortization $383.7M $386.1M
YoY Change -0.62% -5.92%
Cash From Operating Activities $1.745B $1.700B
YoY Change 2.69% -10.89%
INVESTING ACTIVITIES
Capital Expenditures $391.8M $392.6M
YoY Change -0.2% -30.98%
Acquisitions
YoY Change
Other Investing Activities $11.80M $4.200M
YoY Change 180.95% -96.44%
Cash From Investing Activities -$255.9M -$349.2M
YoY Change -26.72% -42.58%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $4.312B $606.4M
YoY Change 611.03% 37.97%
Debt Paid & Issued, Net $213.5M $545.3M
YoY Change -60.85%
Cash From Financing Activities -$5.979B -$1.593B
YoY Change 275.24% 17.58%
NET CHANGE
Cash From Operating Activities $1.745B $1.700B
Cash From Investing Activities -$255.9M -$349.2M
Cash From Financing Activities -$5.979B -$1.593B
Net Change In Cash -$4.489B -$243.0M
YoY Change 1747.49% 333.93%
FREE CASH FLOW
Cash From Operating Activities $1.745B $1.700B
Capital Expenditures $391.8M $392.6M
Free Cash Flow $1.353B $1.307B
YoY Change 3.56% -2.36%

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CY2016Q1 us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Recently Issued Accounting Standards</font></div><div style="line-height:120%;padding-top:6px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Employee Share-Based Payment Accounting</font></div><div style="line-height:120%;padding-top:6px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In March 2016, the Financial Accounting Standards Board (&#8220;FASB&#8221;) issued Accounting Standards Update ("ASU") 2016-09, &#8220;Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting.&#8221; The goal of this update is to simplify several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities and classification on the statement of cash flows. This update becomes effective beginning January 1, 2017 with early adoption permitted. The Company is currently evaluating the impact of ASU 2016-09.</font></div><div style="line-height:120%;padding-top:6px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Lease Accounting</font></div><div style="line-height:120%;padding-top:6px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In February 2016, the FASB issued ASU 2016-02, "Leases (Topic 842)," to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. ASU 2016-02 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, with early adoption permitted. The Company is currently evaluating the impact of ASU 2016-02.</font></div><div style="line-height:120%;padding-top:6px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Revenue Recognition</font></div><div style="line-height:120%;padding-top:6px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In May 2014, the FASB issued guidance codified in ASC 606, "Revenue Recognition - Revenue from Contracts with Customers," which amends the guidance in former ASC 605, "Revenue Recognition." In July 2015, the FASB made a decision to defer by one year the effective date of its new standard to January 1, 2018, although early adoption is permitted as of January 1, 2017. The Company is currently evaluating the impact of the provisions of ASC 606.</font></div></div>

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