{
  "docId": "019dd923-622b-71dc-a6d9-0a9e4ca95565",
  "docSlug": "917aed929317",
  "documentTitle": "Phillips 66 (PSX)",
  "authorId": "02_Elliott_Management",
  "authorName": null,
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2025-04-28 00:00:00",
  "orientation": "portrait",
  "aspectRatio": 0.77272725,
  "pageNumber": 135,
  "pageCount": 154,
  "prevPage": 134,
  "nextPage": 136,
  "slideType": "appendix_data",
  "function": "analyze_data",
  "density": "balanced",
  "nDataPoints": 21,
  "notes": "The table provides the specific weightings used for TSR calculations across different historical valuation dates.",
  "elementsJson": [
    "headline_text",
    "data_table",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622b-71dc-a6d9-0a9e4ca95565/135",
  "deckHref": "/decks/019dd923-622b-71dc-a6d9-0a9e4ca95565",
  "deckJsonHref": "/decks/019dd923-622b-71dc-a6d9-0a9e4ca95565.json",
  "deckAnchorHref": "/decks/019dd923-622b-71dc-a6d9-0a9e4ca95565#slide-135",
  "components": [
    {
      "bbox": null,
      "kind": "metric",
      "text": "SOTP weightings",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-1ac3-70f9-8565-a4e8cabbb9f7",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.045,
        "w": 0.86,
        "x": 0.068,
        "y": 0.86
      },
      "kind": "source-note",
      "text": "(1) Segment weightings determined based on a SOTP valuation analysis as of the given historical valuation date. Valuation for each segment as of the given valuation date calculated as the 1y fwd Consensus EBITDA multiplied by the average multiple of the comps for the given segment. Refining comps reflect VLO and MPC; Midstream comps reflect EPD, MPLX, OKE and TRGP; and Chemicals comps reflect DOW and LYB.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "21c5c2cc-22ff-4c25-b534-d2101f0461f1",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.205,
        "w": 0.645,
        "x": 0.068,
        "y": 0.205
      },
      "kind": "table",
      "text": "Sum-of-the-Parts Valuation Driven Weightings for TSR Calculations",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "f40a24ee-68d4-4fed-b2ce-4d07ad492360",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.055,
        "w": 0.435,
        "x": 0.068,
        "y": 0.095
      },
      "kind": "title",
      "text": "TSR CALCULATIONS",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "68d8be53-7898-49d0-a757-afa64d335e20",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Sum of parts",
      "slug": "sum-of-parts",
      "agent": null,
      "layer": "slide",
      "matchId": "572c30c0-2feb-4dca-8121-d4ef13da1882",
      "evidence": "Sum-of-the-Parts Valuation Driven Weightings for TSR Calculations",
      "confidence": 0.8
    }
  ],
  "frameworks": [],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}