{
  "docId": "019dd923-622b-71dc-a6db-054b0ed0ae9f",
  "docSlug": "6d553bb1191d",
  "documentTitle": "Assured Guaranty (AGO)",
  "authorId": "04_Greenlight_Capital",
  "authorName": "David Einhorn",
  "documentKindSlug": "conference-presentation",
  "documentKindLabel": "Conference presentation",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2018-04-23 00:00:00",
  "orientation": "portrait",
  "aspectRatio": 0.77272725,
  "pageNumber": 18,
  "pageCount": 63,
  "prevPage": 17,
  "nextPage": 19,
  "slideType": "appendix_data",
  "function": "analyze_data",
  "density": "overcrowded",
  "nDataPoints": 36,
  "notes": "The slide highlights the impact of legal recoveries and mark-to-market reversals on the income statement.",
  "elementsJson": [
    "headline_text",
    "data_table",
    "paragraph",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622b-71dc-a6db-054b0ed0ae9f/18",
  "deckHref": "/decks/019dd923-622b-71dc-a6db-054b0ed0ae9f",
  "deckJsonHref": "/decks/019dd923-622b-71dc-a6db-054b0ed0ae9f.json",
  "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-054b0ed0ae9f#slide-18",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "However, looking forward, the litigation has been mostly resolved and there is little mark-to-market liability for CDS left on the balance sheet to reverse.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-0936-7173-ab25-514bc72d96ba",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "Pre-provision pre-tax income: $2,010",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-0936-7173-ab25-55a81bdf3f05",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.085,
        "w": 0.728,
        "x": 0.136,
        "y": 0.485
      },
      "kind": "paragraph",
      "text": "The recovery from the financial crisis has been good for the income statement. In addition to the legal recoveries, AGO has reversed mark-to-market losses on credit default swaps. However, looking forward, the litigation has been mostly resolved and there is little mark-to-market liability for CDS left on the balance sheet to reverse.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "d2b9bdcf-d0e9-4b29-8c5d-43f76f7bc2b1",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.035,
        "w": 0.728,
        "x": 0.136,
        "y": 0.59
      },
      "kind": "source-note",
      "text": "Source: AGO annual reports for years presented, available at http://assuredguaranty.com/investor-information/by-company/assured-guaranty-ltd, and Greenlight calculations.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "543455ab-5e58-4ea5-ad7b-c54388652111",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.275,
        "w": 0.644,
        "x": 0.178,
        "y": 0.172
      },
      "kind": "table",
      "text": "Financial table showing income statement items from 2014 to 2017",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "0dbf77e5-3862-40aa-b720-70d63629b636",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.045,
        "w": 0.39,
        "x": 0.305,
        "y": 0.115
      },
      "kind": "title",
      "text": "The recovery years",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "fc8f43bf-24ab-4f25-ae7a-ac5072c852a5",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}