{
  "docId": "019de06f-3063-736e-8efe-3c325f18f2f1",
  "docSlug": "8a2b56079f523e69bea9092fc1eb3322",
  "documentTitle": "Pershing Square | Activist Presentation Deck | 58 slides",
  "authorId": "pershing-square",
  "authorName": "Pershing Square Capital Management",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2006-01-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 57,
  "pageCount": 58,
  "prevPage": 56,
  "nextPage": 58,
  "slideType": "appendix_data",
  "function": "appendix",
  "density": "balanced",
  "nDataPoints": 24,
  "notes": "Includes footnotes regarding data sources and unit counts.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de06f-3063-736e-8efe-3c325f18f2f1/57",
  "deckHref": "/decks/019de06f-3063-736e-8efe-3c325f18f2f1",
  "deckJsonHref": "/decks/019de06f-3063-736e-8efe-3c325f18f2f1.json",
  "deckAnchorHref": "/decks/019de06f-3063-736e-8efe-3c325f18f2f1#slide-57",
  "components": [
    {
      "bbox": {
        "h": 0.065,
        "w": 0.916,
        "x": 0.042,
        "y": 0.277
      },
      "kind": "paragraph",
      "text": "Set forth herein is a table which details our assumptions regarding average unit level 4-Wall EBITDA margins for McOpCo and U.S. Franchisees.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e602b4ae-dd1c-44af-a6ef-d7a9edd47f5e",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.055,
        "w": 0.765,
        "x": 0.042,
        "y": 0.925
      },
      "kind": "source-note",
      "text": "Note: McOpCo estimates based on FY 2004 financial data and assumes 2,002 U.S. McOpCo units and 6,117 International McOpCo units. (1) As presented by Ralph Alvarez, President of McDonald's North America, at McDonald's Analyst Meeting at Oak Brook, IL on 9/21/05.",
      "attrs": {
        "numbered": true
      },
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "f779b743-99e2-4ad0-b216-18f04b6e7a27",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.265,
        "w": 0.916,
        "x": 0.042,
        "y": 0.428
      },
      "kind": "table",
      "text": "Table comparing Avg. US McOpCo Unit, Avg. Intl. McOpCo Unit, and Avg. US Franchisee Unit across various financial metrics.",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ec3ab0d0-27c7-45b1-b5f9-c6e1dbd1b614",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.035,
        "w": 0.402,
        "x": 0.348,
        "y": 0.105
      },
      "kind": "title",
      "text": "Average Unit Level EBITDA Margins",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "502daa7f-eb82-4146-b665-5341a1e708a4",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Table data",
      "slug": "table-data",
      "agent": null,
      "layer": "slide",
      "matchId": "aca7b588-cfec-43c4-a912-e9153504d828",
      "evidence": "table/data: Table comparing Avg. US McOpCo Unit, Avg. Intl. McOpCo Unit, and Avg. US Franchisee Unit across various financial metrics.",
      "confidence": 0.9
    }
  ],
  "frameworks": [],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}