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  "documentTitle": "McDonald's Corporation (MCD)",
  "authorId": "01_Pershing_Square",
  "authorName": "Pershing Square Capital Management",
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  "presentationDate": "2006-01-18 00:00:00",
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  "notes": "Includes pro forma adjustments for share buybacks and minority interest.",
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      "text": "Attributable free cash flow per share deducts the minority interest free cash flow pertaining to the 20% stake of McOpCo’s no longer owned by McDonald’s.",
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      "text": "Attributable Free Cash Flow per Share: $2.15",
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      "text": "Set forth herein is a schedule for 2006E Free Cash Flow based on our estimates. Attributable free cash flow per share deducts the minority interest free cash flow pertaining to the 20% stake of McOpCo's no longer owned by McDonald's. FY2006E shares outstanding is pro forma for the proposed share buyback.",
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      "text": "McDonald's 2006E Free Cash Flow Assuming a 20% IPO of McOpCo",
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