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McDONALD'S ANNOUNCES SUPPLEMENTAL 1992 FINANCIAL INFORMATION

 OAK BROOK, Ill., Feb. 12 /PRNewswire/ -- McDonald's Corporation (NYSE: MCD) today announced the following financial information for the year 1992 which supplements the 1992 operating results announced on January 27, 1993:
 Assets increased about $330 million to $11.7 billion and shareholders' equity increased $1.0 billion to $5.9 billion.
 Debt decreased about $760 million to $3.9 billion and the ratio of debt to capitalization improved significantly from 49 to 40 percent. About one-third of the debt reduction was due to weaker foreign currencies.
 Cash from operations exceeded capital expenditures by more than $300 million. Cash from operations and capital expenditures are expected to be relatively flat compared to 1991 amounts of $1.4 billion and $1.1 billion, respectively.
 Return on average assets improved from 15.8 in 1991 to 16.1 percent in 1992.
 Return on average common equity declined from 19.1 in 1991 to 18.2 percent in 1992.
 Sharon L. Vuinovich, vice president of Investor Relations, said: "A key objective of our investor relations program has always been to communicate accurate information to investors in a timely manner. As our Annual Report is usually published in late March, we thought it would be appropriate to make this information available earlier.
 "Investors may be interested to know that we have completed about one-third of our $500 million common share repurchase program announced in conjunction with our $500 million preferred stock issuance. These transactions reduce our cost of capital and improve return on equity for common shareholders over the long term, but dilute earnings per common share in the short term. We estimate that the dilution will be about four cents in 1993 and somewhat less than that in 1994 and 1995. However, any change in the common stock price during the repurchase program will impact this estimate."
 McDonald's is the world's leading foodservice organization, with more than 13,000 restaurants in 65 countries. About 80 percent of McDonald's restaurant businesses are locally owned and operated by independent entrepreneurs.
 -0- 2/12/93
 /CONTACT: Sharon Vuinovich, investors, 708-575-3395, or Chuck Ebeling, media, 708-575-6150, both of McDonald's Corporation/
 (MCD)


CO: McDonald's Corporation ST: Illinois IN: LEI SU:

SM -- CL008 -- 6122 02/12/93 11:33 EST
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Publication:PR Newswire
Date:Feb 12, 1993
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