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  "documentTitle": "U.S. Concrete Inc (USCR)",
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  "authorName": "Ben Axler",
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  "presentationDate": "2018-05-17 00:00:00",
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  "notes": "The slide highlights how capital leases can be used to inflate EBITDA and free cash flow, potentially to influence management bonuses.",
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      "text": "Before we investigate USCR's capital leasing use, we outline the effects of the choice on the key financial statements. Capital leases have the main effect of inflating EBITDA and Free Cash Flow, two key measures investors used to value USCR. More importantly, management's bonus is tied heavily to EBITDA.",
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      "text": "Capital leases have the main effect of inflating EBITDA and Free Cash Flow, two key measures investors used to value USCR. More importantly, management's bonus is tied heavily to EBITDA.",
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      "text": "Comparison of Operating vs Capital Lease impacts on Income Statement, Cash Flow Statement, and Balance Sheet.",
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