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  "documentTitle": "McDonald's Corporation (MCD)",
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  "authorName": "Pershing Square Capital Management",
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  "presentationDate": "2006-01-18 00:00:00",
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  "notes": "The slide explicitly states the assumption that no incremental debt is issued post 9/30/2005.",
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      "text": "Set forth herein are the schedules for (1) FY 2005E funds available for proposed share buybacks; (2) '05E Total Debt Balances; and (3) '05E Cash Balances. We have assumed that no incremental debt would be issued at McOpCo as of 9/30/2005 on top of the estimated $3 billion required to repatriate earnings from foreign territories.",
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      "text": "We have assumed that no incremental debt would be issued at McOpCo as of 9/30/2005 on top of the estimated $3 billion required to repatriate earnings from foreign territories.",
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      "text": "FY 2005E Ending Cash Balance: $3,000",
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