McDonald's Corp. Files 2023 Annual Report on Form 10-K

TL;DR

<b>McDonald's Corporation has filed its 2023 10-K annual report detailing its financial performance and operations.</b>

AI Summary

MCDONALDS CORP (MCD) filed a Annual Report (10-K) with the SEC on February 22, 2024. The filing is a 10-K annual report for McDonald's Corporation for the fiscal year ending December 31, 2023. The report covers the period from January 1, 2023, to December 31, 2023. McDonald's Corporation is incorporated in Delaware and its fiscal year ends on December 31. The company's principal business address is 110 North Carpenter Street, Chicago, IL 60607. The filing includes financial data for the years 2023, 2022, and 2021.

Why It Matters

For investors and stakeholders tracking MCDONALDS CORP, this filing contains several important signals. This 10-K provides a comprehensive overview of McDonald's financial health and strategic direction for investors and analysts. The detailed financial statements and risk factors offer insights into the company's performance in the competitive fast-food industry.

Risk Assessment

Risk Level: medium — MCDONALDS CORP shows moderate risk based on this filing. The company operates in a highly competitive industry with evolving consumer preferences and faces significant operational risks related to supply chain, labor, and international operations, as detailed in the 10-K filing.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to assess McDonald's performance and future outlook.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-02-22 — Filing Date (Filed as of date)
• 0000063908 — Central Index Key (Filer's Central Index Key)
• 5812 — Standard Industrial Classification (SIC code for Retail-Eating Places)

Key Players & Entities

• MCDONALDS CORP (company) — Filer name
• 110 NORTH CARPENTER STREET (address) — Business address
• CHICAGO (location) — Business address city
• IL (location) — Business address state
• 60607 (postal_code) — Business address zip

FAQ

Industry Context

McDonald's operates within the global quick-service restaurant industry, characterized by intense competition, evolving consumer tastes, and significant regulatory oversight.

Regulatory Implications

The company is subject to various regulations concerning food safety, labor practices, and international trade, which can impact its operations and profitability.

What Investors Should Do

1. Analyze the detailed financial statements for revenue, net income, and other key performance indicators.
2. Review the risk factors section for potential challenges and mitigation strategies.
3. Compare the 2023 results with previous years to identify trends and growth patterns.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-02-22: Filing Date — Date the 10-K was officially filed with the SEC.

Year-Over-Year Comparison

This filing represents the annual 10-K report for the fiscal year 2023, providing updated financial and operational information compared to previous filings.

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value MCD New York Stock Exchange
• $100 million — inues to deliver against its five-year, $100 million commitment to RMHC, which it announced

Filing Documents

• mcd-20231231.htm (10-K) — 2075KB
• mcd-ex2110xk.htm (EX-21) — 7KB
• mcd-ex2310xk.htm (EX-23) — 6KB
• mcd-ex2410xk.htm (EX-24) — 21KB
• mcd-ex31110xk.htm (EX-31.1) — 10KB
• mcd-ex31210xk.htm (EX-31.2) — 9KB
• mcd-ex32110xk.htm (EX-32.1) — 3KB
• mcd-ex32210xk.htm (EX-32.2) — 3KB
• mcd-ex9710xk.htm (EX-97) — 19KB
• mcd-ex99110xk.htm (EX-99.1) — 103KB
• mcd-20231231_g1.jpg (GRAPHIC) — 57KB
• mcd-20231231_g10.jpg (GRAPHIC) — 92KB
• mcd-20231231_g11.jpg (GRAPHIC) — 27KB
• mcd-20231231_g12.jpg (GRAPHIC) — 27KB
• mcd-20231231_g13.jpg (GRAPHIC) — 27KB
• mcd-20231231_g14.jpg (GRAPHIC) — 53KB
• mcd-20231231_g15.jpg (GRAPHIC) — 115KB
• mcd-20231231_g2.jpg (GRAPHIC) — 15KB
• mcd-20231231_g3.jpg (GRAPHIC) — 15KB
• mcd-20231231_g4.jpg (GRAPHIC) — 14KB
• mcd-20231231_g5.jpg (GRAPHIC) — 58KB
• mcd-20231231_g6.jpg (GRAPHIC) — 57KB
• mcd-20231231_g7.jpg (GRAPHIC) — 14KB
• mcd-20231231_g8.jpg (GRAPHIC) — 14KB
• mcd-20231231_g9.jpg (GRAPHIC) — 14KB
• mcd1231202310k.pdf (10-K) — 474KB
• 0000063908-24-000072.txt (&nbsp;) — 11615KB
• mcd-20231231.xsd (EX-101.SCH) — 65KB
• mcd-20231231_cal.xml (EX-101.CAL) — 98KB
• mcd-20231231_def.xml (EX-101.DEF) — 270KB
• mcd-20231231_lab.xml (EX-101.LAB) — 819KB
• mcd-20231231_pre.xml (EX-101.PRE) — 522KB
• mcd-20231231_htm.xml (XML) — 1403KB

Forward-Looking Statements 3

Forward-Looking Statements 3 About McDonald's 3 Business Summary 3

Management's Discussion and Analysis of Financial Condition and Results of Operations 8

Management's Discussion and Analysis of Financial Condition and Results of Operations 8 Management's View of the Business 8 2023 Financial Performance 8 Strategic Direction 9 Outlook 11 Consolidated Operating Results 12 Cash Flows 20 Financial Position and Capital Resources 23 Other Matters 25 Other Key Information 26 Stock Performance Graph 26 Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 27 Risk Factors 28 Legal Proceedings 35 Properties 35 Information About our Executive Officers 36 Availability of Company Information 37

Financial Statements and Supplementary Data 37

Financial Statements and Supplementary Data 37

Controls and Procedures 65

Controls and Procedures 65

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 65

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 65 Exhibits and Financial Statement Schedules 66 Form 10-K Cross-Reference Index 68

Signatures

Signatures 69 All trademarks used herein are the property of their respective owners and are used with permission.

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS The information in this Form 10-K contains forward-looking statements about future events and circumstances and their effects upon revenues, expenses and business opportunities. Generally speaking, any statement in this Form 10-K not based upon historical fact is a forward-looking statement. Forward-looking statements can also be identified by the use of forward-looking or conditional words, such as "could," "should," "can," "continue," "aim," "estimate," "forecast," "intend," "look," "may," "will," "expect," "believe," "anticipate," "plan," "remain," "confident", "commit", "potential" and "trajectory" or similar expressions. In particular, statements regarding the Company's plans, strategies, prospects and expectations regarding its business and industry, as well as environmental, social and governance ("ESG") and similar commitments, are forward-looking statements. They reflect expectations, are not guarantees of performance and speak only as of the dates the statements are made. These forward-looking statements involve a number of risks and uncertainties. Factors that could cause actual results to differ materially from those in the forward-looking statements include those reflected in the Risk Factors section on page 28 of this Form 10-K and elsewhere in the Company's filings with the SEC. Except as required by law, the Company does not undertake to update such forward-looking statements. You should not rely unduly on forward-looking statements. ABOUT McDONALD'S McDonald's Corporation, the registrant, together with its subsidiaries, is referred to herein as the "Company." The Company, its franchisees and suppliers are referred to herein as the "System." BUSINESS SUMMARY GENERAL For the year ended December 31, 2023, there were no material changes to the Company's corporate structure or in its method of conducting business. Refer to the Segment and Geographic Information section on page 49 of this Form 10-K for additional inform

View Full Filing

View this 10-K filing on SEC EDGAR