McDonald's (MCD)

Q4 2010 Earnings Call

January 24, 2011 11:00 am ET


Jim Skinner - Vice Chairman, Chief Executive Officer and Chairman of Executive Committee

Cathy Martin -

Peter Bensen - Chief Financial Officer and Corporate Executive Vice President

Mary Kay Shaw - Vice President of Investor Relations

Donald Thompson - President and Chief Operating Officer


Nicole Regan - Piper Jaffray Companies

Keith Siegner - Crédit Suisse AG

Jeffrey Omohundro - Wells Fargo Securities, LLC

Larry Miller - RBC Capital Markets, LLC

Matthew Van Vliet

John Glass - Morgan Stanley

Matthew DiFrisco - Oppenheimer & Co. Inc.

Michael Kelter - Goldman Sachs Group Inc.

Andrew Barish - Jefferies & Company, Inc.

Jason West - Deutsche Bank AG

David Tarantino - Robert W. Baird & Co. Incorporated

John Ivankoe - JP Morgan Chase & Co

Mitchell Speiser - Buckingham Research Group, Inc.

Jeffrey Bernstein - Barclays Capital

Joseph Buckley - BofA Merrill Lynch

Howard Penney - Prudential Equity Group

Gregory Badishkanian - Citigroup Inc

David Palmer - UBS Investment Bank



Hello, and welcome to McDonald's January 24, 2011 Investor Conference Call. [Operator Instructions] I'd now like to turn the call over to this Ms. Cathy Martin, Vice President of Investor Relations for McDonald's Corp. Ms. Martin, you may begin.

Cathy Martin

Thank you, and good morning, everyone. With me on the call are Chief Executive Officer Jim Skinner; and Chief Financial Officer Pete Bensen; and Chief Operating Officer Don Thompson is also here for Q&A. Today's conference call is being webcast live and recorded for replay via phone, webcast and podcast. Before I turn it over to Jim, I want to remind everyone that as always the forward-looking statements in our earnings release and 8-K filing also apply to our comments. Both of these documents are available on our website at As are any reconciliations of non-GAAP financial measures mentioned on today's call with their corresponding GAAP measures. Now I'd like to turn it over to Jim.

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