$MCD
MCDONALDS CORP

2022 Q1 Form 10-Q Financial Statement

#000006390822000016 Filed on May 02, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $5.666B $5.125B
YoY Change 10.56% 8.7%
Cost Of Revenue $584.0M $571.5M
YoY Change 2.19% 3.12%
Gross Profit $5.082B $4.553B
YoY Change 11.61% 9.44%
Gross Profit Margin 89.69% 88.85%
Selling, General & Admin $584.3M $490.4M
YoY Change 19.15% 8.98%
% of Gross Profit 11.5% 10.77%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $92.70M $76.00M
YoY Change 21.97% 3.4%
% of Gross Profit 1.82% 1.67%
Operating Expenses $677.0M $566.4M
YoY Change 19.53% 8.19%
Operating Profit $2.313B $2.281B
YoY Change 1.37% 34.7%
Interest Expense $287.3M $300.0M
YoY Change -4.23% 7.14%
% of Operating Profit 12.42% 13.15%
Other Income/Expense, Net -$484.1M -$28.60M
YoY Change 1592.66% -191.37%
Pretax Income $1.541B $1.953B
YoY Change -21.07% 35.14%
Income Tax $436.8M $415.5M
% Of Pretax Income 28.34% 21.28%
Net Earnings $1.104B $1.537B
YoY Change -28.16% 38.87%
Net Earnings / Revenue 19.49% 30.0%
Basic Earnings Per Share $1.49 $2.06
Diluted Earnings Per Share $1.48 $2.05
COMMON SHARES
Basic Shares Outstanding 742.6M shares 745.8M shares
Diluted Shares Outstanding 747.6M shares 751.0M shares

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.336B $3.020B
YoY Change -22.66% -44.16%
Cash & Equivalents $2.336B $3.020B
Short-Term Investments
Other Short-Term Assets $597.0M $669.0M
YoY Change -10.76% 61.2%
Inventory $49.60M $45.30M
Prepaid Expenses
Receivables $1.674B $1.734B
Other Receivables $0.00 $0.00
Total Short-Term Assets $4.656B $5.468B
YoY Change -14.84% -27.64%
LONG-TERM ASSETS
Property, Plant & Equipment $24.43B $24.55B
YoY Change -0.47% 4.04%
Goodwill $2.814B $2.746B
YoY Change 2.48% 4.51%
Intangibles
YoY Change
Long-Term Investments $1.177B $1.211B
YoY Change -2.79% -5.17%
Other Assets $4.417B $3.499B
YoY Change 26.23% 41.01%
Total Long-Term Assets $46.22B $45.64B
YoY Change 1.28% 6.1%
TOTAL ASSETS
Total Short-Term Assets $4.656B $5.468B
Total Long-Term Assets $46.22B $45.64B
Total Assets $50.88B $51.10B
YoY Change -0.44% 1.06%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $718.6M $670.0M
YoY Change 7.25% -0.28%
Accrued Expenses $2.923B $2.292B
YoY Change 27.51% 16.05%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $900.0M
YoY Change 749.06%
Total Short-Term Liabilities $4.235B $4.580B
YoY Change -7.54% 14.85%
LONG-TERM LIABILITIES
Long-Term Debt $33.99B $34.82B
YoY Change -2.4% -8.47%
Other Long-Term Liabilities $1.092B $1.057B
YoY Change 3.33% 18.22%
Total Long-Term Liabilities $35.08B $35.88B
YoY Change -2.23% -7.86%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.235B $4.580B
Total Long-Term Liabilities $35.08B $35.88B
Total Liabilities $39.32B $40.46B
YoY Change -2.83% -5.75%
SHAREHOLDERS EQUITY
Retained Earnings $57.61B $54.48B
YoY Change 5.75% 2.59%
Common Stock $16.60M $16.60M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $69.29B $67.06B
YoY Change 3.32% -0.11%
Treasury Stock Shares 913.4M shares 914.5M shares
Shareholders Equity -$5.991B -$7.236B
YoY Change
Total Liabilities & Shareholders Equity $50.88B $51.10B
YoY Change -0.44% 1.06%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income $1.104B $1.537B
YoY Change -28.16% 38.87%
Depreciation, Depletion And Amortization $92.70M $76.00M
YoY Change 21.97% 3.4%
Cash From Operating Activities $2.133B $2.124B
YoY Change 0.44% 37.39%
INVESTING ACTIVITIES
Capital Expenditures $401.2M $368.7M
YoY Change 8.81% -23.59%
Acquisitions
YoY Change
Other Investing Activities $88.00M -$100.4M
YoY Change -187.65% -273.7%
Cash From Investing Activities -$554.5M -$244.6M
YoY Change 126.7% -52.82%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.507B $21.50M
YoY Change 6906.98% -97.62%
Debt Paid & Issued, Net $1.351B $1.338B
YoY Change 0.96% 409.25%
Cash From Financing Activities -$3.830B -$2.264B
YoY Change 69.18% -164.08%
NET CHANGE
Cash From Operating Activities $2.133B $2.124B
Cash From Investing Activities -$554.5M -$244.6M
Cash From Financing Activities -$3.830B -$2.264B
Net Change In Cash -$2.374B -$429.4M
YoY Change 452.75% -109.58%
FREE CASH FLOW
Cash From Operating Activities $2.133B $2.124B
Capital Expenditures $401.2M $368.7M
Free Cash Flow $1.732B $1.755B
YoY Change -1.32% 65.05%

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CY2022Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
1300000 USD
CY2021Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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10200000 USD
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1488100000 USD
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1537200000 USD
CY2022Q1 us-gaap Depreciation And Amortization
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479700000 USD
CY2021Q1 us-gaap Depreciation And Amortization
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453900000 USD
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DeferredIncomeTaxExpenseBenefit
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CY2022Q1 us-gaap Share Based Compensation
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54300000 USD
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27300000 USD
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130000000.0 USD
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2124000000 USD
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401200000 USD
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368700000 USD
CY2022Q1 us-gaap Payments To Acquire Other Productive Assets
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86700000 USD
CY2021Q1 us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
38700000 USD
CY2022Q1 us-gaap Proceeds From Sale Of Other Productive Assets
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16500000 USD
CY2021Q1 us-gaap Proceeds From Sale Of Other Productive Assets
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ProceedsFromSaleOfPropertyPlantAndEquipment
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CY2021Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
32800000 USD
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88000000.0 USD
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0 USD
CY2021Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
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1506500000 USD
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21500000 USD
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1025100000 USD
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58700000 USD
CY2021Q1 us-gaap Proceeds From Stock Options Exercised
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59100000 USD
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CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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21500000 USD
CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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27300000 USD
CY2021Q1 mcd Stock Option Exercises And Other Value
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57800000 USD
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
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CY2021Q4 us-gaap Stockholders Equity
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1506500000 USD
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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54300000 USD
CY2022Q1 mcd Stock Option Exercises And Other Value
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51300000 USD
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
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CY2022Q1 us-gaap Number Of Restaurants
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40344 Restaurant
CY2021Q1 us-gaap Number Of Restaurants
NumberOfRestaurants
39160 Restaurant
CY2022Q1 mcd Number Of Restaurants Suspended Operations
NumberOfRestaurantsSuspendedOperations
827 Restaurant
CY2022Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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5000000.0 shares
CY2021Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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5200000 shares
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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1700000 shares
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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3600000 shares
CY2022Q1 us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
0 USD
CY2022Q1 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
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725000000 USD
CY2022Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.283
CY2021Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.213
CY2022Q1 mcd Effective Income Tax Rate Reconciliation Tax Settlement Reserve Foreign Amount
EffectiveIncomeTaxRateReconciliationTaxSettlementReserveForeignAmount
500000000 USD
CY2022Q1 mcd Effective Income Tax Rate Reconciliation Tax Settlement Reserve Foreign Amount
EffectiveIncomeTaxRateReconciliationTaxSettlementReserveForeignAmount
500000000 USD
CY2022Q1 mcd Effective Income Tax Rate Reconciliation Excluding Tax Settlement Reserve Foreign Percent
EffectiveIncomeTaxRateReconciliationExcludingTaxSettlementReserveForeignPercent
0.213
CY2021Q1 mcd Effective Income Tax Rate Reconciliation Excluding Tax Settlement Reserve Foreign Percent
EffectiveIncomeTaxRateReconciliationExcludingTaxSettlementReserveForeignPercent
0.209
CY2022Q1 us-gaap Long Term Debt Fair Value
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35400000000 USD
CY2022Q1 us-gaap Debt Instrument Carrying Amount
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34000000000.0 USD
CY2022Q1 us-gaap Derivative Fair Value Of Derivative Asset
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282500000 USD
CY2021Q4 us-gaap Derivative Fair Value Of Derivative Asset
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289600000 USD
CY2022Q1 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
53100000 USD
CY2021Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
7900000 USD
CY2022Q1 us-gaap Aoci Loss Cash Flow Hedge Cumulative Gain Loss After Tax
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-7500000 USD
CY2022Q1 mcd Rental Income
RentalIncome
2081100000 USD
CY2021Q1 mcd Rental Income
RentalIncome
1826100000 USD
CY2022Q1 us-gaap Royalty Income Nonoperating
RoyaltyIncomeNonoperating
1168700000 USD
CY2021Q1 us-gaap Royalty Income Nonoperating
RoyaltyIncomeNonoperating
1038700000 USD
CY2022Q1 mcd Initial Fees
InitialFees
13000000.0 USD
CY2021Q1 mcd Initial Fees
InitialFees
12600000 USD
CY2022Q1 mcd Revenuesfromfranchisedrestaurants
Revenuesfromfranchisedrestaurants
3262800000 USD
CY2021Q1 mcd Revenuesfromfranchisedrestaurants
Revenuesfromfranchisedrestaurants
2877400000 USD
CY2022Q1 us-gaap Revenues
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5665600000 USD
CY2021Q1 us-gaap Revenues
Revenues
5124600000 USD
CY2022Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
2312600000 USD
CY2021Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
2281300000 USD

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