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  "documentTitle": "Mettler-Toledo International, Inc. (MTD)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Ben Axler",
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  "presentationDate": "2019-07-24 00:00:00",
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  "notes": "The slide uses a red box to draw attention to the 'Eliminations' line item in both tables.",
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      "text": "Spruce Point is concerned by the large line item called “eliminations and corporate” with more than $1.1 billion of revenues and 57% of gross assets removed.",
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      "text": "sales eliminations: $1.1 billion",
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      "text": "Spruce Point is concerned by the large line item called “eliminations and corporate” with more than $1.1 billion of revenues and 57% of gross assets removed. With so much revenue moving through various entities, and unallocated assets, we wonder how much reliance can be placed on accurate financial reporting. Compare Mettler to global competitor Thermo Fisher, and we can see just how big Mettler’s sales eliminations are.",
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      "text": "(a) Other includes reporting units in Southeast Asia, Latin America, Eastern Europe, and other countries. (b) Eliminations and Corporate includes the elimination of inter-segment transactions as well as certain corporate expenses and intercompany investments, which are not included in the Company's operating segments.",
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      "text": "Mystifying Intersegment Relationships",
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