{
  "docId": "019dd923-622b-71dc-a6db-548937484e86",
  "docSlug": "67e30c6378be",
  "documentTitle": "General Electric (GE)",
  "authorId": "06_Trian_Partners",
  "authorName": "Trian Partners",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2015-10-05 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 59,
  "pageCount": 81,
  "prevPage": 58,
  "nextPage": 60,
  "slideType": "before_after",
  "function": "quantify_opportunity",
  "density": "balanced",
  "nDataPoints": 13,
  "notes": "The slide uses a large arrow overlay to emphasize the long-term trend of margin expansion.",
  "elementsJson": [
    "headline_text",
    "bar_chart_vertical",
    "callout_box",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622b-71dc-a6db-548937484e86/59",
  "deckHref": "/decks/019dd923-622b-71dc-a6db-548937484e86",
  "deckJsonHref": "/decks/019dd923-622b-71dc-a6db-548937484e86.json",
  "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-548937484e86#slide-59",
  "components": [
    {
      "bbox": {
        "h": 0.15,
        "w": 0.45,
        "x": 0.1,
        "y": 0.25
      },
      "kind": "callout",
      "text": "2004-2014: ~800bps margin improvement (~80 bps p.a.)\n2014-2018: Projecting another ~400bps improvement in margins (~100 bps p.a.)",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "d557cbc6-5e99-4b2e-bbc1-e7dc3ff51655",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "callout",
      "text": "14 Years of margin improvements totaling approximately 1,200bps",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-0935-737e-8dbd-fc42ffb5cffb",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.7,
        "w": 0.85,
        "x": 0.08,
        "y": 0.15
      },
      "kind": "chart",
      "text": "Honeywell Consolidated EBIT Margins",
      "attrs": null,
      "subkind": "bar-vertical",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "22fe6ef3-62aa-482b-a3b7-1478fadd2ddb",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "EBIT margin: 1,200bps",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-0935-737e-8dbe-03fabff2a8f2",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.9,
        "x": 0.05,
        "y": 0.9
      },
      "kind": "source-note",
      "text": "Source: Honeywell SEC filings and press releases. 1) Excludes pension mark-to-market and gain on sales. 2) 2015 represents the midpoint of management's guidance... - 58 -",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "2b413584-2e43-4596-adff-fa0547219da5",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.9,
        "x": 0.05,
        "y": 0.03
      },
      "kind": "title",
      "text": "...Industrial Margin Expansion Stories Can Last For Many Years",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7cfbcb82-265e-4790-897f-7a8f1c31b19b",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Before-After-Bridge",
      "slug": "before-after-bridge",
      "agent": "Storyteller",
      "layer": "slide",
      "matchId": "84e160e7-e62a-42ec-8860-c3043699e677",
      "evidence": "The slide shows a clear before-and-after comparison of Honeywell's margin improvement over 14 years.",
      "confidence": 0.8
    }
  ],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 60,
      "from": 41,
      "beatId": "96af430b-fa45-4f2c-86ca-676f03611fc5",
      "arcName": "Problem-Agitate-Solution",
      "arcSlug": "problem-agitate-solution",
      "beatName": "Solution",
      "beatSlug": null,
      "evidence": "The presentation proposes a solution, highlighting GE's potential for growth and margin improvement",
      "position": 2,
      "confidence": 0.9,
      "parentBeatName": null,
      "parentBeatSlug": null
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}