Analysis: Deferred Assets and Liabilities, Net

Entity Registrant Name MCDONALDS CORP
CIK 0000063908
Accession number 0000063908-14-000019
Link to XBRL instance http://www.sec.gov/Archives/edgar/data/63908/000006390814000019/mcd-20131231.xml
Fiscal year end --12-31
Fiscal year focus 2013
Fiscal period focus FY
Current balance sheet date 2013-12-31
Current year-to-date income statement start date 2013-01-01
Commentary Conforms with all rules.
Level 3 Text Block concept us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Net deferred tax liabilities consisted of:
In millions
December 31, 2013
 
 
2012

Property and equipment
 
 
$
1,812.4

 
$
1,713.9

Other
 
 
639.8

 
636.4

Total deferred tax liabilities
 
 
2,452.2

 
2,350.3

Property and equipment
 
 
(407.9
)
 
(403.6
)
Employee benefit plans
 
 
(388.9
)
 
(362.9
)
Intangible assets
 
 
(210.1
)
 
(258.0
)
Deferred foreign tax credits
 
 
(192.3
)
 
(179.5
)
Operating loss carryforwards
 
 
(154.0
)
 
(92.4
)
Other
 
 
(347.6
)
 
(319.4
)
Total deferred tax assets
before valuation allowance
 
 
(1,700.8
)
 
(1,615.8
)
Valuation allowance
 
 
172.8

 
127.0

Net deferred tax liabilities
 
 
$
924.2

 
$
861.5

Balance sheet presentation:
 
 
 
 
 
Deferred income taxes
 
 
$
1,647.7

 
$
1,531.1

Other assets-miscellaneous
 
 
(621.4
)
 
(603.6
)
Current assets-prepaid expenses
and other current assets
 
(102.1
)
 
(66.0
)
Net deferred tax liabilities
 
 
$
924.2

 
$
861.5

Level 4 Details Key Concepts: Deferred tax assets (liabilities)

Description Fact value US GAAP XBRL Concept
Deferred tax assets, gross 1,700,800,000 us-gaap:DeferredTaxAssetsGross
Valuation allowance -172,800,000 us-gaap:DeferredTaxAssetsValuationAllowance
Deferred tax assets, net 1,528,000,000
Deferred tax liabilities -2,452,200,000 us-gaap:DeferredTaxLiabilities
Deferred tax assets (liabilities), net -924,200,000 us-gaap:DeferredTaxAssetsLiabilitiesNet
CHECK 0

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(Classified balance sheet) Deferred tax assets (liabilities), net components current/noncurrent asset/liability

Description Fact value US GAAP XBRL Concept
Deferred tax assets, net, current 0
Deferred tax assets, net, noncurrent 0
Deferred tax liabilities, net, current 0
Deferred tax liabilities, net, noncurrent -1,647,700,000 us-gaap:DeferredTaxLiabilities
Deferred tax assets (liabilities), net -924,200,000 us-gaap:DeferredTaxAssetsLiabilitiesNet
CHECK 0

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(Unclassified balance sheet) Deferred tax assets (liabilities), net components asset/liability

Description Fact value US GAAP XBRL Concept
Deferred tax assets 1,528,000,000
Deferred tax liabilities, net -2,452,200,000 us-gaap:DeferredTaxLiabilities
Deferred tax assets (liabilities), net -924,200,000 us-gaap:DeferredTaxAssetsLiabilitiesNet
CHECK 0

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