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  "documentTitle": "Cintas Corp. (CTAS)",
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  "authorName": "Ben Axler",
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  "presentationDate": "2019-11-13 00:00:00",
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  "notes": "The slide uses a red box to highlight the specific $0.15 EPS impact and a callout box to pose a rhetorical question about the exclusion of this item from adjusted EPS.",
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      "kind": "callout",
      "text": "Why Wasn't The $0.15 Cents Benefit From ASU Adoption Called Out As A Driver of EPS Growth?",
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      "text": "Why Wasn't The $0.15 Cents Benefit From ASU Adoption Called Out As A Driver Of EPS Growth?",
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      "text": "Diluted EPS: $0.15",
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      "text": "In FY 2019, Cintas adopted a new revenue recognition method that boosted pre-tax income by $22.3m and Diluted EPS by $0.15 cents. Why wasn't this considered a \"one-time\" or \"extraordinary\" boost to income?",
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      "text": "Source: FY 2019 10-K p. 25",
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      "text": "Source: FY 2019 Cintas earnings release",
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      "text": "Twelve Months Ended EPS comparison table",
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      "text": "Consolidated Statement of Income table showing impact of ASU 2014-09",
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      "text": "Dubious EPS To Reap Unjust Bonuses (Cont'd)",
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