{
  "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": 66,
  "pageCount": 79,
  "prevPage": 65,
  "nextPage": 67,
  "slideType": "peer_benchmark",
  "function": "compare_peers",
  "density": "dense",
  "nDataPoints": 112,
  "notes": "Data as of 11/10/05. Uses treasury stock method.",
  "elementsJson": [
    "data_table",
    "callout_box",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9b-296b2ce8c9e2/66",
  "deckHref": "/decks/019dd923-622c-750b-8b9b-296b2ce8c9e2",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9b-296b2ce8c9e2.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-296b2ce8c9e2#slide-66",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "We estimated the asset betas of several Real Estate holding C-Corporations and several high branded intellectual property businesses.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-0f1a-773e-97f1-8b0dc446ec67",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "Unlevered Beta",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-0f1a-773e-97f1-8edd5d22126d",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.035,
        "w": 0.833,
        "x": 0.083,
        "y": 0.273
      },
      "kind": "paragraph",
      "text": "We estimated the asset betas of several Real Estate holding C-Corporations and several high branded intellectual property businesses.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "264a6927-ba4f-40b6-b35b-0c753eba455d",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.035,
        "w": 0.435,
        "x": 0.083,
        "y": 0.875
      },
      "kind": "source-note",
      "text": "Note: Market information as of 11/10/05. Utilized treasury stock method. Sources: Barra, company reports, Factset, and Wall Street Equity research.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "022e58f7-6826-456a-80ef-ed95c3a84da6",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.185,
        "w": 0.71,
        "x": 0.145,
        "y": 0.601
      },
      "kind": "table",
      "text": "Real Estate Business Betas table",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "9c493d74-733f-43e1-bead-7bb30db931ae",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.185,
        "w": 0.71,
        "x": 0.145,
        "y": 0.354
      },
      "kind": "table",
      "text": "High Branded Intangible Property Business Betas table",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a7a66513-153a-431b-bfcd-228b5a2f95ba",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.025,
        "w": 0.275,
        "x": 0.363,
        "y": 0.152
      },
      "kind": "title",
      "text": "PF McDonald's: Cost of Capital",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "437b788e-f5be-49b9-b306-e4e25969e8e1",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}