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  "documentTitle": "Mettler-Toledo International, Inc. (MTD)",
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  "authorName": "Ben Axler",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2019-07-24 00:00:00",
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  "notes": "Includes a screenshot of a public records search and a table of lease expenses.",
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      "text": "Mettler has made two recent moves to acquire real estate. It is clear from footnote disclosures that Mettler is trying to reduce its lease expense, partially improved by the consolidation of two Swiss properties (Uznach and Schwerzenbach) in 2018, but also by the acquisition of properties, which is a way to capitalize the cost on the balance sheet.",
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      "text": "Alameda County Clerk-Recorder Web Access showing a lien on Mettler Toledo Rainin LLC",
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      "text": "Non-Cancellable Lease Expense: $95.2",
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      "text": "Mettler has made two recent moves to acquire real estate. It is clear from footnote disclosures that Mettler is trying to reduce its lease expense, partially improved by the consolidation of two Swiss properties (Uznach and Schwerzenbach) in 2018, but also by the acquisition of properties, which is a way to capitalize the cost on the balance sheet.",
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      "text": "Our capital expenditures totaled $124.0 million in 2016, $82.5 million in 2015, and $89.4 million in 2014. The 2016 amount includes a $37 million purchase of our previously leased pipette manufacturing facility",
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      "text": "Our capital expenditures totaled $124.0 million in 2016, $82.5 million in 2015, and $89.4 million in 2014. The 2016 amount includes a $37 million purchase of our previously leased pipette manufacturing facility — Mettler 10-K footnotes",
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      "text": "Source: Mettler 10-K footnotes",
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      "text": "Source: Alameda County",
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      "text": "More Capitalization: Why Now Purchasing Property Late In The Real Estate Cycle?",
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