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  "documentTitle": "GFL Environmental Inc. (GFL)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2020-08-18 00:00:00",
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  "notes": "Uses visual callouts (plus sign and not-equal sign) to highlight the mathematical inconsistency in the company's financial reporting.",
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      "kind": "callout",
      "text": "The magnitude of the misreporting is $15.7 million, or nearly 100%.",
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      "text": "Capex Additions: $15.7 million",
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      "text": "Looking carefully at the bottom of the cash flow statement, GFL reports “supplemental information” related to “asset additions financed through leases”. We observe that that Q1 2020 + Q2 2020 results do not equal H1 2020 results. The magnitude of the misreporting is $15.7 million, or nearly 100%.",
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      "text": "Source: Q1 2020 financials",
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      "text": "GFL Environmental Inc. Unaudited Interim Condensed Consolidated Statements of Cash Flows",
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      "text": "More Capex Anomalies",
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