{
  "docId": "019dd923-622b-71dc-a6d9-c007c91e862b",
  "docSlug": "28a425ed69eb",
  "documentTitle": "Darden Restaurants, Inc. (DRI)",
  "authorId": "03_Starboard_Value",
  "authorName": "Starboard Value",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2014-09-11 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 277,
  "pageCount": 294,
  "prevPage": 276,
  "nextPage": 278,
  "slideType": "valuation_table",
  "function": "quantify_opportunity",
  "density": "dense",
  "nDataPoints": 28,
  "notes": "Includes three distinct financial tables: Portfolio Sale Assumptions, Remaining Real Estate, and Illustrative Impact of Portfolio Sale on Leverage.",
  "elementsJson": [
    "headline_text",
    "paragraph",
    "bullet_list",
    "data_table",
    "callout_box"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622b-71dc-a6d9-c007c91e862b/277",
  "deckHref": "/decks/019dd923-622b-71dc-a6d9-c007c91e862b",
  "deckJsonHref": "/decks/019dd923-622b-71dc-a6d9-c007c91e862b.json",
  "deckAnchorHref": "/decks/019dd923-622b-71dc-a6d9-c007c91e862b#slide-277",
  "components": [
    {
      "bbox": {
        "h": 0.08,
        "w": 0.94,
        "x": 0.03,
        "y": 0.895
      },
      "kind": "callout",
      "text": "We believe that a $350 million portfolio sale would improve Darden's credit profile, setting the stage for a larger real estate separation",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "2f6edb70-88ab-416c-9479-9a65c755edfb",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "callout",
      "text": "We believe that a $350 million portfolio sale would improve Darden’s credit profile, setting the stage for a larger real estate separation",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd952-f5cf-7048-87f4-1582cd4a02d1",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "Debt / EBITDA: 1.8x",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd952-f5cf-7048-87f4-196cce3b8450",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.92,
        "x": 0.04,
        "y": 0.14
      },
      "kind": "paragraph",
      "text": "We believe the conservative portfolio sale example below would be a value-enhancing first step in a real estate separation.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "76b824c3-777a-4796-9aa5-4667c1bf7f85",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.145,
        "w": 0.456,
        "x": 0.272,
        "y": 0.678
      },
      "kind": "table",
      "text": "Illustrative Impact of Portfolio Sale on Leverage table",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "71a2e461-ca11-49ed-91d8-0c0338f965de",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.105,
        "w": 0.5,
        "x": 0.25,
        "y": 0.443
      },
      "kind": "table",
      "text": "Remaining Real Estate table",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "d2f0fdaf-8679-4a24-a856-c6ece9d6a3b9",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.105,
        "w": 0.346,
        "x": 0.327,
        "y": 0.266
      },
      "kind": "table",
      "text": "Portfolio Sale Assumptions table",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "de55932f-58a8-4fec-bbc7-7a2dfcae65cc",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.85,
        "x": 0.04,
        "y": 0.06
      },
      "kind": "title",
      "text": "Real estate separation Step 1: Partial portfolio sale (cont'd)",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "11771848-6703-497a-80bc-42de0e9fa957",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}