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  "documentTitle": "E.I. du Pont de Nemours and Company (DuPont) (DD)",
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  "authorName": "Trian Partners",
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  "notes": "The slide uses two distinct financial modeling approaches to arrive at a total excess cost figure, highlighting the discrepancy between DuPont's reported figures and the activist's estimates.",
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      "text": "We believe much of the difference is excess corporate expense, which in our view, burdens all of DuPont's businesses",
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      "text": "Excess Corporate Costs: $3,658",
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      "text": "There is a $229m difference between the 2011 Adjusted EBITDA reported by Axalta and DuPont, for its Coatings business (same company, same year). We believe much of the difference is excess corporate expense, which in our view, burdens all of DuPont's businesses",
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