MCD: the cash flow

MyFinsight

Cash Flow	2026-03-31	2025-12-31	2025-09-30	2025-06-30
Net income	1,983	2,164	2,278	2,253
Depreciation and amortization	566	576	559	544
Deferred income taxes	63	-77	35	-40
Share-based compensation	60	37	39	44
Net (gain) loss on sale of restaurant and other businesses	NaN	149	NaN	NaN
Other	92	10	53	71
Accounts receivable	NaN	-231	NaN	NaN
Inventories, prepaid expenses and other current assets	NaN	140	NaN	NaN
Accounts payable	NaN	100	NaN	NaN
Income taxes	NaN	-239	NaN	NaN
Other accrued liabilities	NaN	154	NaN	NaN
Changes in working capital items	-2,449.4	NaN	-1,466.4	4,083.8
Cash provided by (used for) operations	2,412	2,697	3,428	1,998
Capital expenditures	682	1,059	1,011	744
Purchases of restaurant businesses	79	114	109	56
Payments to acquire equity method investments	NaN	0	0	0
Sales of restaurant businesses	72	161	102	34
Sales of property	34	92	22	11
Other	122	149	116	114
Cash used for investing activities	-777	-1,069	-1,112	-870
Net short-term borrowings	-791	800	-599	597
Long-term financing issuances	1,159	-10	1,833	1,403
Long-term financing repayments	1	2,158	1,251	700
Treasury stock purchases	396	573	501	505
Common stock dividends	1,323	1,323	1,262	1,264
Proceeds from stock option exercises	128	69	28	41
Other	-2	-46	-34	-127
Cash provided by (used for) financing activities	-1,225	-3,241	-1,786	-555
Effect of exchange rates on cash and cash equivalents	-14	-24	6	65
Cash and equivalents increase (decrease)	396	-1,639	537	638
Cash and equivalents at beginning of period	774	2,413	1,876	1,238
Cash and equivalents at end of period	1,170	774	2,413	1,876

Unit: Million (M) dollars (except for numbers of shares and EPS). Numbers labeled with * are estimated quarterly values.