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  "documentTitle": "Green Mountain Coffee Roasters (GMCR)",
  "authorId": "04_Greenlight_Capital",
  "authorName": "David Einhorn",
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  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2011-10-17 00:00:00",
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  "pageNumber": 41,
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  "nDataPoints": 11,
  "notes": "The slide calculates ROIC by dividing implied net income by the sum of working capital, acquisitions, and fixed assets/capex.",
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      "kind": "metric",
      "text": "Return on Invested Capital: 16.3%",
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      "text": "1. SunTrust Robinson Humphrey research note published September 13, 2011; Janney Capital Markets research note published September 22, 2011\n2. Assumes net working capital required is equal to 20% of FY2013 revenue (using consensus estimates from Bloomberg as of October 13, 2011)\n3. Represents purchase price of Tully's, Timothy's, Diedrich, and Van Houtte in aggregate\n4. Assumes the mid-point of GMCR capital expenditure guidance",
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      "text": "2013 Bull Case EPS (1) $4.00; Shares 160.0; Implied Net Income 640.0; Estimated Net Working Capital (2) 1,120.0; Acquisitions (3) 1,409.1; Net Fixed Assets as of Q3 2011 499.1; CapEx in Q4 2011 (4) 162.0; CapEx in FY 2012 (4) 740.0; Total 3,930.2; Return on Invested Capital 16.3%",
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      "kind": "title",
      "text": "Returns on Capital Investment – Bull Case",
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      "from": 15,
      "name": "The Reveal",
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