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  "documentTitle": "Church & Dwight Co., Inc. (CHD)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Ben Axler",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2019-09-05 00:00:00",
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  "pageNumber": 12,
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  "slideType": "problem_statement",
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  "density": "dense",
  "nDataPoints": 7,
  "notes": "The chart highlights a 'Near Term Debt Due' wall in 2019, while the text critiques the company's debt-to-EBITDA reporting and JV transparency.",
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      "text": "We call on the Board to suspend its acquisition strategy post a through review of management's recent transactions.",
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      "kind": "chart",
      "text": "Debt maturity profile showing near-term debt due in 2019 and subsequent maturities through 2027 and thereafter.",
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      "text": "Debt Maturity: 2.7x",
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      "kind": "paragraph",
      "text": "CHD is a BBB+ / Baa1 credit and touts its $2.7bn borrowing capacity... We call on the Board to suspend its acquisition strategy post a through review of management's recent transactions.",
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      "kind": "quote",
      "text": "“Occidental closing operation blamed for mercury pollution” — The Decatur Daily, April 2006",
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      "kind": "source-note",
      "text": "Note: excludes leases and acquisition earnouts. 1) \"Occidental closing operation blamed for mercury pollution\" - The Decatur Daily, April 2006",
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      "kind": "title",
      "text": "Rising Debt Amidst Low Quality EBITDA And Unknown True Leverage",
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