{
  "docId": "019dd923-622c-750b-8b9b-296b2ce8c9e2",
  "docSlug": "70a313a8c0c3",
  "documentTitle": "McDonald's Corporation (MCD)",
  "authorId": "01_Pershing_Square",
  "authorName": "William Ackman",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2005-11-15 00:00:00",
  "orientation": "portrait",
  "aspectRatio": 0.77272725,
  "pageNumber": 6,
  "pageCount": 79,
  "prevPage": 5,
  "nextPage": 7,
  "slideType": "executive_summary",
  "function": "establish_context",
  "density": "dense",
  "nDataPoints": 7,
  "notes": "This slide serves as an introductory context-setting page for an activist investor deck.",
  "elementsJson": [
    "headline_text",
    "bullet_list",
    "logo_grid",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9b-296b2ce8c9e2/6",
  "deckHref": "/decks/019dd923-622c-750b-8b9b-296b2ce8c9e2",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9b-296b2ce8c9e2.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-296b2ce8c9e2#slide-6",
  "components": [
    {
      "bbox": {
        "h": 0.161,
        "w": 0.161,
        "x": 0.091,
        "y": 0.308
      },
      "kind": "image",
      "text": null,
      "attrs": null,
      "subkind": "logo",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a7074493-05f3-4ed1-b48d-440a3f0cd740",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.075,
        "w": 0.535,
        "x": 0.363,
        "y": 0.633
      },
      "kind": "list",
      "text": "One of the largest retail property owners in the world\nEstimated owned and controlled real estate market value of $46 billion (1)\nEstimated 18,000 restaurants where McDonald's owns land and/or building",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "9205a68d-553b-48d2-8fc0-69a57e66b37e",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.055,
        "w": 0.535,
        "x": 0.363,
        "y": 0.532
      },
      "kind": "list",
      "text": "One of the world's most recognized brands\nConsistently named in the top 10 global brands along with Coke and Disney",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a680a7e0-5b8d-46cf-9048-c7e125b3bbb3",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.155,
        "w": 0.535,
        "x": 0.363,
        "y": 0.308
      },
      "kind": "list",
      "text": "World's largest foodservice franchisor and retailer\n$42 billion equity market value\n$55 billion in estimated system wide sales\n32,000 system wide restaurants, globally\nServes 50 million customers daily in 119 countries\nEveryday 1 out of 14 Americans eats at a McDonald's",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "fd90047a-d98b-4ff6-8569-1f146621f511",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "equity market value: $42 billion",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-0f1a-773e-97ec-08b0158d5466",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.018,
        "w": 0.275,
        "x": 0.363,
        "y": 0.764
      },
      "kind": "paragraph",
      "text": "Significant free cash flow business",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a33f1389-4f47-44b0-833f-4b3974db2cb2",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.014,
        "w": 0.388,
        "x": 0.073,
        "y": 0.869
      },
      "kind": "source-note",
      "text": "(1) Based on Pershing's assumptions. See page 64 in the appendix.",
      "attrs": {
        "numbered": true
      },
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "d9680669-5175-4bf7-9f11-02c9818cc87d",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.018,
        "w": 0.206,
        "x": 0.364,
        "y": 0.152
      },
      "kind": "title",
      "text": "Review of McDonald's",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "84ad45a4-4df9-4dd8-ae61-5bc570aa65e0",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Executive summary",
      "slug": "executive-summary",
      "agent": null,
      "layer": "slide",
      "matchId": "1427bc1b-bb93-4ddf-ae11-3d9f812e4994",
      "evidence": "World's largest foodservice franchisor and retailer, $42 billion equity market value, $55 billion in estimated system wide sales.",
      "confidence": 0.8
    }
  ],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 9,
      "from": 4,
      "beatId": "4a5ccc2e-8573-403e-9b8a-fd63ad2ae91d",
      "arcName": "The Consultant's Gambit",
      "arcSlug": "consultants-gambit",
      "beatName": "Situation & Context",
      "beatSlug": "consultants-gambit-situation-context",
      "evidence": "The document provides an overview of McDonald's business, its financial performance, and its stock price performance.",
      "position": 0,
      "confidence": 0.8,
      "parentBeatName": "Setup",
      "parentBeatSlug": "setup"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}