McDonald's Corp. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>McDonald's Corporation has filed its quarterly report (10-Q) for the period ending March 31, 2024.</b>

AI Summary

MCDONALDS CORP (MCD) filed a Quarterly Report (10-Q) with the SEC on May 8, 2024. McDonald's Corporation filed a 10-Q report for the quarterly period ended March 31, 2024. The filing covers the period from January 1, 2024, to March 31, 2024. The company's fiscal year ends on December 31. McDonald's Corporation is incorporated in Delaware. The Standard Industrial Classification code for McDonald's is 5812 (Retail-Eating Places).

Why It Matters

For investors and stakeholders tracking MCDONALDS CORP, this filing contains several important signals. This filing provides investors with the latest financial performance and operational details for McDonald's, crucial for understanding its current business health. As a major player in the fast-food industry, McDonald's quarterly filings offer insights into consumer spending trends and the broader economic environment affecting the restaurant sector.

Risk Assessment

Risk Level: low — MCDONALDS CORP shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain any immediate red flags or significant deviations from typical disclosures.

Analyst Insight

Monitor future filings for detailed financial results, segment performance, and any management commentary on strategic initiatives or market challenges.

Key Numbers

• 2024-03-31 — Period of Report (Quarterly period ended)
• 2024-05-08 — Filing Date (Date the report was filed)
• 0000063908 — Central Index Key (Company identifier)
• 5812 — SIC Code (Standard Industrial Classification for eating places)
• DE — State of Incorporation (Delaware)

Key Players & Entities

• MCDONALDS CORP (company) — Filer name
• 2024-03-31 (date) — Period of report
• 2024-05-08 (date) — Filed as of date
• 0000063908 (company) — Central Index Key
• 5812 (industry_code) — Standard Industrial Classification
• DE (jurisdiction) — State of incorporation
• 110 NORTH CARPENTER STREET (address) — Business address street 1
• CHICAGO (location) — Business address city

FAQ

Industry Context

McDonald's operates within the global quick-service restaurant (QSR) industry, a highly competitive sector influenced by consumer preferences, economic conditions, and operational efficiency.

Regulatory Implications

As a publicly traded company, McDonald's is subject to the reporting requirements of the U.S. Securities and Exchange Commission (SEC), including the filing of quarterly (10-Q) and annual (10-K) reports.

What Investors Should Do

1. Review the full 10-Q filing for detailed financial statements and management discussion.
2. Analyze segment performance and geographic contributions to revenue and profit.
3. Compare current quarter results to historical performance and analyst expectations.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-08: Filing Date — Date McDonald's Corporation submitted its 10-Q filing.

Year-Over-Year Comparison

This is the initial filing for the first quarter of 2024, following the annual report (10-K) for the fiscal year ended December 31, 2023.

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value MCD New York Stock Exchange
• $78 million — 2024, the Company was required to post $78 million of collateral due to the negative fair

Filing Documents

• mcd-20240331.htm (10-Q) — 1096KB
• mcd-3312024xex31110xqxq1.htm (EX-31.1) — 10KB
• mcd-3312024xex31210xqxq1.htm (EX-31.2) — 10KB
• mcd-3312024xex32110xqxq1.htm (EX-32.1) — 3KB
• mcd-3312024xex32210xqxq1.htm (EX-32.2) — 3KB
• 10Q03312024.pdf (10-Q) — 527KB
• 0000063908-24-000092.txt (&nbsp;) — 5029KB
• mcd-20240331.xsd (EX-101.SCH) — 28KB
• mcd-20240331_cal.xml (EX-101.CAL) — 56KB
• mcd-20240331_def.xml (EX-101.DEF) — 100KB
• mcd-20240331_lab.xml (EX-101.LAB) — 351KB
• mcd-20240331_pre.xml (EX-101.PRE) — 239KB
• mcd-20240331_htm.xml (XML) — 484KB

Financial Information

Part I. Financial Information

– Financial Statements

Item 1 – Financial Statements Condensed Consolidated Balance Sheet, March 31, 202 4 (unaudited) and December 31, 202 3 3 Condensed Consolidated Statement of Income (unaudited), quarters ended March 31, 202 4 and 202 3 4 Condensed Consolidated Statement of Comprehensive Income (unaudited), quarters ended March 31, 202 4 and 202 3 5 Condensed Consolidated Statement of Cash Flows (unaudited), quarters ended March 31, 202 4 and 20 23 6 Condensed Consolidated Statement of Shareholders' Equity (unaudited), quarters ended March 31, 202 4 and 202 3 7 Notes to Condensed Consolidated Financial Statements (unaudited) 8

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

Item 2 – Management's Discussion and Analysis of Financial Condition and Results of Operations 15

– Quantitative and Qualitative Disclosures About Market Risk

Item 3 – Quantitative and Qualitative Disclosures About Market Risk 35

– Controls and Procedures

Item 4 – Controls and Procedures 35

Other Information

Part II. Other Information

– Legal Proceedings

Item 1 – Legal Proceedings 36

– Risk Factors

Item 1A – Risk Factors 36

– Unregistered Sales of Equity Securities and Use of Proceeds

Item 2 – Unregistered Sales of Equity Securities and Use of Proceeds 36

– Other Information

Item 5 – Other Information 37

– Exhibits

Item 6 – Exhibits 38 Signature 40 All trademarks used herein are the property of their respective owners and are used with permission. 2 Table of Contents

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements CONDENSED CONSOLIDATED BALANCE SHEET (unaudited) In millions, except per share data March 31, 2024 December 31, 2023 Assets Current assets Cash and equivalents $ 838 $ 4,579 Accounts and notes receivable 2,238 2,488 Inventories, at cost, not in excess of market 46 53 Prepaid expenses and other current assets 935 866 Total current assets 4,057 7,986 Other assets Investments in and advances to affiliates 2,883 1,080 Goodwill 3,028 3,040 Miscellaneous 5,586 5,618 Total other assets 11,497 9,738 Lease right-of-use asset, net 13,277 13,514 Property and equipment Property and equipment, at cost 43,432 43,570 Accumulated depreciation and amortization ( 18,750 ) ( 18,662 ) Net property and equipment 24,682 24,908 Total assets $ 53,513 $ 56,147 Liabilities and shareholders' equity Current liabilities Short-term borrowings and current maturities of long-term debt $ 604 $ 2,192 Accounts payable 936 1,103 Lease liability 685 688 Income taxes 873 705 Other taxes 279 268 Accrued interest 372 469 Accrued payroll and other liabilities 1,136 1,434 Total current liabilities 4,886 6,859 Long-term debt 36,764 37,153 Long-term lease liability 12,828 13,058 Long-term income taxes 361 363 Deferred revenues - initial franchise fees 784 790 Other long-term liabilities 927 950 Deferred income taxes 1,796 1,681 Shareholders' equity (deficit) Preferred stock, no par value; authorized – 165.0 million shares; issued – none — — Common stock, $ 0.01 par value; authorized – 3.5 billion shares; issued – 1,660.6 million shares 17 17 Additional paid-in capital 9,001 8,893 Retained earnings 64,203 63,480 Accumulated other comprehensive income (loss) ( 2,533 ) ( 2,456 ) Common stock in treasury, at cost; 939.9 and 937.9 million shares ( 75,520 ) ( 74,640 ) Total shareholders' equity (deficit) ( 4,833 ) ( 4,707 ) Total liabilities and shareholders' equity (deficit) $ 53,513 $ 56,147 See Notes to condensed consolidated fin

View Full Filing

View this 10-Q filing on SEC EDGAR