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  "documentTitle": "2025 Q1 Earnings Presentation",
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  "notes": "Includes forward-looking statements and pro forma financial metrics.",
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      "text": "HS transaction expected to reduce leverage by ~1x",
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      "text": "Leverage ratio (Net debt / Adjusted EBITDA) over time from FY23 to Long-term Target",
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      "text": "1. Pro forma information gives effect to the sale of the Hospitality Solutions business... Net debt/Adjusted EBITDA is a non-GAAP measure... The information presented here represents forward-looking statements...",
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      "text": "Sale price of ~$1.1 billion; proceeds, net of tax and fees, of ~$960 million. Plan to utilize proceeds primarily to pay down certain Term Loan B senior secured credit facilities. Pro forma gross debt to be reduced from ~$5.1 billion to ~$4.3 billion. Expect 2025 net leverage to be reduced by ~1.0x from ~6.3x to ~5.4x",
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      "text": "Planned debt paydown associated with the sale of Hospitality Solutions will accelerate deleveraging toward long-term target of 2.5x to 3.5x",
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