Balance Sheet: Assets
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.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

McDonald’s Corp., consolidated balance sheet: assets (quarterly data)

US$ in millions

	Sep 30, 2025	Jun 30, 2025	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
Cash and equivalents	2,413)	1,876)	1,238)	1,085)	1,221)	792)	838)	4,579)	3,496)	1,626)	3,708)	2,584)	2,828)	1,873)	2,336)	4,709)	4,306)	3,049)	3,020)	3,449)	3,684)	3,256)	5,380)
Accounts and notes receivable	2,579)	2,550)	2,387)	2,383)	2,460)	2,404)	2,238)	2,488)	2,247)	2,194)	2,076)	2,115)	1,890)	1,837)	1,674)	1,872)	1,829)	1,808)	1,734)	2,110)	2,392)	2,853)	1,695)
Inventories, at cost, not in excess of market	55)	55)	51)	56)	54)	46)	46)	53)	48)	52)	52)	52)	43)	43)	50)	56)	50)	48)	45)	51)	44)	43)	39)
Prepaid expenses and other current assets	1,032)	1,120)	1,059)	1,075)	1,177)	963)	935)	866)	1,059)	1,074)	964)	673)	979)	1,167)	597)	511)	612)	796)	669)	633)	616)	459)	443)
Current assets	6,079)	5,601)	4,735)	4,599)	4,912)	4,205)	4,057)	7,986)	6,850)	4,945)	6,799)	5,424)	5,741)	4,919)	4,656)	7,149)	6,796)	5,701)	5,468)	6,243)	6,736)	6,609)	7,557)
Investments in affiliates	2,864)	2,827)	2,751)	2,710)	2,960)	2,876)	2,883)	1,080)	1,038)	1,039)	1,088)	1,065)	964)	1,074)	1,177)	1,201)	1,171)	1,197)	1,211)	1,297)	1,283)	1,278)	1,277)
Goodwill	3,306)	3,308)	3,186)	3,145)	3,220)	3,048)	3,028)	3,040)	2,965)	2,969)	2,931)	2,900)	2,651)	2,722)	2,814)	2,783)	2,744)	2,778)	2,746)	2,773)	2,716)	2,672)	2,627)
Miscellaneous	6,588)	6,494)	6,266)	6,094)	5,673)	5,627)	5,586)	5,618)	5,063)	4,869)	4,795)	4,707)	4,255)	4,403)	4,417)	4,450)	4,058)	3,890)	3,499)	3,527)	2,470)	2,547)	2,481)
Other assets	12,758)	12,629)	12,203)	11,949)	11,853)	11,551)	11,497)	9,738)	9,066)	8,876)	8,813)	8,672)	7,870)	8,200)	8,408)	8,433)	7,974)	7,864)	7,456)	7,598)	6,469)	6,497)	6,386)
Lease right-of-use asset, net	14,285)	14,286)	13,642)	13,339)	13,632)	13,234)	13,277)	13,514)	12,250)	12,519)	12,544)	12,566)	12,193)	12,794)	13,379)	13,552)	13,529)	13,707)	13,629)	13,828)	13,276)	13,002)	13,030)
Property and equipment, at cost	48,215)	47,609)	45,258)	44,177)	45,178)	43,846)	43,432)	43,570)	41,967)	42,131)	41,487)	41,038)	39,097)	40,114)	41,773)	41,917)	41,424)	41,536)	41,082)	41,477)	40,089)	39,137)	38,352)
Accumulated depreciation and amortization	(20,729)	(20,570)	(19,509)	(18,882)	(19,403)	(19,035)	(18,750)	(18,662)	(18,043)	(18,030)	(17,629)	(17,264)	(16,399)	(16,780)	(17,338)	(17,196)	(16,995)	(16,915)	(16,532)	(16,518)	(15,870)	(15,307)	(14,756)
Net property and equipment	27,486)	27,039)	25,749)	25,295)	25,775)	24,811)	24,682)	24,908)	23,924)	24,102)	23,859)	23,774)	22,698)	23,335)	24,435)	24,721)	24,429)	24,620)	24,550)	24,958)	24,218)	23,830)	23,596)
Long-term assets	54,529)	53,954)	51,594)	50,583)	51,260)	49,596)	49,456)	48,160)	45,239)	45,497)	45,216)	45,011)	42,761)	44,329)	46,221)	46,706)	45,931)	46,192)	45,635)	46,384)	43,963)	43,330)	43,011)
Total assets	60,608)	59,555)	56,329)	55,182)	56,172)	53,801)	53,513)	56,147)	52,089)	50,442)	52,014)	50,436)	48,502)	49,248)	50,878)	53,854)	52,727)	51,893)	51,103)	52,627)	50,699)	49,939)	50,568)

Cash and Equivalents: The cash and equivalents balance exhibited notable fluctuations throughout the periods. Starting from a relatively high level, it declined significantly by mid-2020, followed by periods of recovery and subsequent declines. The balance reached its lowest points in early 2024, with some recovery towards the latter part of the timeline, indicating variable liquidity management or cash flow patterns dependent on operational or investment activities.
Accounts and Notes Receivable: Accounts and notes receivable showed initial volatility but remained relatively stable across the periods, fluctuating moderately without strong upward or downward trends. This suggests consistent credit sales and collection practices with some seasonal or cyclical fluctuations.
Inventories: Inventories maintained a modest and relatively stable level throughout the periods, with minor fluctuations. The slight increases and decreases imply steady inventory management aligned with operational needs, without significant buildup or shortages.
Prepaid Expenses and Other Current Assets: Prepaid expenses and other current assets varied considerably, showing marked increases during some quarters, particularly in mid-2021 and parts of 2022. This irregular pattern indicates adjustments in prepaid items or other short-term assets, possibly due to changes in advance payments or reclassification activities.
Current Assets: Current assets overall reflected the combined impact of cash, receivables, inventory, and prepaid expenses. There were declines during early 2022 and 2024, with improvements evident in late 2021, late 2023, and late 2025. These trends point to fluctuating short-term asset availability, impacted mainly by the trends in cash and prepaid expenses.
Investments in Affiliates: Investments in affiliates generally declined from 2020 into early 2023 but displayed a pronounced increase from 2024 onwards, nearing levels significantly higher than earlier periods. This uptrend indicates increased investments or revaluation gains in affiliate relationships in recent years.
Goodwill: Goodwill showed a steady increase over time, reflecting potential acquisitions or revaluations. The growth suggests strategic expansions or capitalization of intangible assets contributing positively to long-term asset values.
Miscellaneous and Other Assets: Both miscellaneous and other assets exhibited gradual upward trends with some volatility. Increases in miscellaneous assets were particularly notable from 2021 onwards, while other assets grew consistently, indicating expanding asset bases or changing asset compositions outside the main categories.
Lease Right-of-Use Asset, Net: This asset category remained largely steady with minor fluctuations, highlighting consistent lease obligations and right-of-use asset recognition. Slight declines in mid-periods were followed by recoveries, reflecting possibly lease modifications or amortization schedules.
Property and Equipment, at Cost and Net: The property and equipment at cost increased steadily, showing continued capital investment. Accumulated depreciation also increased over time, commensurate with asset aging and usage. Net property and equipment values remained mostly stable, with slight increases reflecting asset purchases offset by depreciation.
Long-Term Assets: Long-term assets remained relatively stable with a slight upward trend, fluctuating due to changes in property assets, investments, and other long-term holdings. The increase in late periods aligns with the growth in investments and intangible assets noted earlier.
Total Assets: Total assets showed a generally stable to moderately increasing trend, despite fluctuations in some periods. Peaks around late 2023 and increases towards 2025 indicate growth or asset strengthening initiatives, while dips correspond to decreases in cash or other current asset components.

Assets: Selected Items

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McDonald’s Corp. (NYSE:MCD)

Balance Sheet: Assets Quarterly Data

Assets: Selected Items

Current Assets: Selected Items

Balance Sheet: Assets
Quarterly Data