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  "documentTitle": "Porch Group Inc (PRCH)",
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  "authorName": "Ben Axler",
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  "presentationDate": "2021-04-08 00:00:00",
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      "text": "By now, most public companies have adopted ASU 2016-02 to recognize leases on the balance sheet. However, Porch still has not adopted this guidance, and as a result, its financial statements are not comparable on an apples-to-apples basis with other public companies. As a conservative estimate, we believe $6.3m of lease liabilities should be accounted for on Porch's balance sheet.",
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      "text": "By now, most public companies have adopted ASU 2016-02 to recognize leases on the balance sheet. However, Porch still has not adopted this guidance, and as a result, its financial statements are not comparable on an apples-to-apples basis with other public companies.",
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      "text": "lease liabilities: $6.3m",
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      "text": "In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842)... The Company is currently in the process of evaluating the impact of this standard and expects that the adoption of the ASU will increase assets and liabilities related to the Company's operating leases on the consolidated balance sheets.",
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      "text": "\"The Company is currently in the process of evaluating the impact of this standard and expects that the adoption of the ASU will increase assets and liabilities related to the Company's operating leases on the consolidated balance sheets.\" — Porch Group Inc.",
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      "text": "Source: Porch Prospectus and 10-K",
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      "text": "v12 Leases: $2.1m table",
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      "text": "HOA Leases: $1.7m table",
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      "text": "Debts Understated From Leases",
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