Exhibit 11
McDONALD'S CORPORATION
STATEMENT RE COMPUTATION OF PER SHARE EARNINGS
(Dollars and shares in millions, except per common share data)
Years ended December 31,
1995 1994 1993
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Net Income $1,427.3 $1,224.4 $1,082.5
Preferred stock dividends (net of tax benefits) (40.5) (47.2) (46.9)
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Net income available after preferred stock dividends (A) 1,386.8 1,177.2 1,035.6
Effect of preferred stock exchange* (4.3) .0 .0
Common stock dividends on assumed conversion of preferred stock .6 1.2 1.2
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Net income available to common shareholders $1,383.1 $1,178.4 $1,036.8
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Weighted average number of common shares outstanding during the period (A) 701.5 701.8 711.8
Additional shares related to potentially dilutive securities 20.5 20.5 21.6
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Adjusted weighted average common shares 722.0 722.3 733.4
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Fully diluted net income per common share $1.92 $1.63 $1.41
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Increase in fully diluted net income per common share over prior year 18% 16% 12%
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* The 1995 period includes $3.9 million for the effect of the Company's
exchange of Series E Cumulative Preferred Stock for subordinated debt
securities completed in June, 1995, and an additional .4 million for the
effect of the Company's repurchase of additional Series E preferred stock
in the third quarter.
(A) Refer to Consolidated statement of income and Financial comments on
pages 33 and 53 from Part II, item 8 of this 1995 10-K for information
concerning the computation of Net income per common share.
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