McDonald’s Corporation (MCD)

Number of days of payables

		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	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Payables turnover		4.17	5.21	5.44	5.37	4.45	5.58	5.98	6.09	4.22	5.49	5.59	5.98	5.37	5.55	7.20	5.68	3.79	6.96	7.26	6.92
Number of days of payables	days	87.61	70.06	67.05	68.01	82.01	65.41	60.99	59.91	86.55	66.49	65.34	61.05	67.95	65.78	50.69	64.29	96.24	52.42	50.25	52.71

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 4.17
= 87.61

McDonald's Corp's number of days of payables has shown significant fluctuations over the past eight quarters. In Q1 2023 and Q4 2022, the number of days of payables was not provided. In Q3 2023, the days of payables were at 491.22. In Q2 2023, the number of days of payables increased substantially to 1,031.57 days, indicating a potential slowdown in paying off its liabilities. In contrast, in Q2 2022, the number of days of payables stood at 558.76 days, a significant decrease from the previous quarter. The number of days of payables in Q1 2022 was at 199.72 days, indicating a shorter payment period. These fluctuations in the number of days of payables suggest potential changes in McDonald's payment practices and liquidity management.