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  "documentTitle": "Oatly Group AB (OTLY)",
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  "authorName": "Ben Axler",
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  "presentationDate": "2021-07-14 00:00:00",
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  "notes": "Uses a combination of annual report excerpts, property deeds, and financial tables to build a case for accounting manipulation.",
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      "text": "In 2019, Oatly competed three expansion projects... Oatly only transferred $45m from the 'Construction in Progress' to completed fixed asset accounts... Oatly could be overstating operating losses by ~$1.5m, or 5%.",
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      "text": "In this case by delaying ($60.9-$45.7=$15.2m) of fixed asset recognition, Oatly could be overstating operating losses by ~$1.5m, or 5%.",
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      "text": "Millville, NJ Facility $9.8m",
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      "text": "Netherlands 2019 PP&E $10.1m",
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      "text": "fixed asset depreciation: $15.2m",
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      "text": "Source: Oatly Prospectus p. F-37",
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      "text": "Total Capex Spend For Three Plants: Landskrona $41.0, Netherlands $10.1, Millville $9.8, Total $60.9",
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      "text": "Oatly Consolidated Accounts: Reclassifications (45,721)",
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