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  "documentTitle": "Hill-Rom Holdings, Inc. (HRC)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Ben Axler",
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  "sourceTypeLabel": "Short seller",
  "presentationDate": "2019-10-29 00:00:00",
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  "notes": "The slide presents four separate tables comparing actual reserves to hypothetical reserves based on previous percentage levels to calculate an 'Under-Reserve' amount.",
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      "text": "Under-allocating for these reserves, over which management has complete discretionary control, would provide an inappropriate boost to Company earnings.",
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      "text": "Spruce Point observes that, despite reported top-line growth, Hill-Rom's allowances and reserves have decreased almost across the board through the past several years. Under-allocating for these reserves, over which management has complete discretionary control, would provide an inappropriate boost to Company earnings.",
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