{
  "docId": "019dd923-622c-750b-8b98-c3e7825e1948",
  "docSlug": "8b6a62f49fba",
  "documentTitle": "Church & Dwight Co., Inc. (CHD)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Ben Axler",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2019-09-05 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 41,
  "pageCount": 92,
  "prevPage": 40,
  "nextPage": 42,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "dense",
  "nDataPoints": 48,
  "notes": "The slide uses a table to isolate the 'FLAWLESS Acquisition' impact on sales growth, comparing 3-month and 6-month periods.",
  "elementsJson": [
    "headline_text",
    "paragraph",
    "data_table",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b98-c3e7825e1948/41",
  "deckHref": "/decks/019dd923-622c-750b-8b98-c3e7825e1948",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b98-c3e7825e1948.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b98-c3e7825e1948#slide-41",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "We also double checked the numbers from the Consumer International and Direct segment reporting, which includes the FLAWLESS acquisition. Again, FLAWLESS revenues are estimated at $7.5m - $8.2m, slightly different than $7.2m - $8.1m we previously estimated from the consolidated net sales level.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-1ac2-71b6-bf55-01bc70752602",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "FLAWLESS acquisition revenue: $7.5m",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-1ac2-71b6-bf55-073573884c27",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.07,
        "w": 0.9,
        "x": 0.05,
        "y": 0.19
      },
      "kind": "paragraph",
      "text": "We also double checked the numbers from the Consumer International and Direct segment reporting, which includes the FLAWLESS acquisition. Again, FLAWLESS revenues are estimated at $7.5m - $8.2m, slightly different than $7.2m - $8.1m we previously estimated from the consolidated net sales level.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "9af80b9d-f98d-4e13-a5c7-f60b9608653f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.15,
        "x": 0.04,
        "y": 0.94
      },
      "kind": "source-note",
      "text": "Source: CHD 2019 Q2 10-Q",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b234982e-febd-4f97-abaa-b9280e246aea",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.58,
        "w": 0.92,
        "x": 0.04,
        "y": 0.32
      },
      "kind": "table",
      "text": "Table showing sales change factors for Consumer Domestic and International segments for 3 and 6 months ended June 30, 2019.",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "9faf93e6-e6de-433b-9a5d-4265767c424d",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.55,
        "x": 0.32,
        "y": 0.03
      },
      "kind": "title",
      "text": "FLAWLESS Revenue Control Problems (Cont'd)",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "da430ecc-10f7-435c-88f4-e92f826c152f",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [],
  "loops": [
    {
      "to": 92,
      "from": 1,
      "name": "Cost Of Inaction",
      "slug": "27-cost-of-inaction",
      "bestFor": "Urgent budget requests, compliance, risk mitigation",
      "matchId": "d8d41695-ad33-43d2-9478-d227476d9e68",
      "evidence": "The overall thesis implies that failing to act on Spruce Point's analysis could lead to significant financial losses for investors holding onto CHD stock.",
      "position": 2,
      "objective": "The cost of not selling CHD",
      "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
      "confidence": 0.6,
      "description": "Quantify what happens if the audience does nothing"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}