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  "docSlug": "09bbf36d82e5",
  "documentTitle": "Avery Dennison Corporation (AVY)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Ben Axler",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2020-11-10 00:00:00",
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  "pageNumber": 41,
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  "nDataPoints": 8,
  "notes": "Includes a red 'X' annotation over the 2019 disclosure table to emphasize it is no longer provided.",
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      "kind": "callout",
      "text": "Spruce Point believes it's a major red flag that Avery has ceased disclosing in its 10-Q quarterly filings the nature and breakdown of its operating and finance leases in 2020.",
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      "text": "Spruce Point believes it’s a major red flag that Avery has ceased disclosing in its 10-Q quarterly filings the nature and breakdown of its operating and finance leases in 2020.",
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      "text": "Avery's Last Lease Disclosure 12/31/19",
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      "text": "Total Debt: 2.16B",
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      "text": "Source: Bloomberg, Yahoo! Finance, Capital IQ",
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      "text": "Source: Avery 2019 Annual Report",
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      "text": "Market Data Providers Don't Capture Operating Lease Debt",
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      "text": "Why Is Avery Now Obscuring Debt?",
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