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  "docSlug": "41aa7e476e91",
  "documentTitle": "Xylem Inc. (XYL)",
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  "authorName": "Spruce Point Capital Management",
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  "presentationDate": "2023-08-09 00:00:00",
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  "notes": "The slide uses red boxes and callouts to point out specific numerical differences between the SEC filing and the company website version.",
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      "kind": "callout",
      "text": "Off by $86m",
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      "kind": "callout",
      "text": "Multiple acquisitions and businesses acquired beyond Evoqua?",
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      "text": "Spruce Point has serious concerns about the accuracy of Xylem’s financial statements for 2023 and 2022 after identifying two sets of published financials. As a result, we cannot trust the accuracy of Xylem’s reported cash.",
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      "text": "Financials Posted on Xylem’s Website",
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      "text": "Spruce Point has serious concerns about the accuracy of Xylem’s financial statements for 2023 and 2022 after identifying two sets of published financials. As a result, we cannot trust the accuracy of Xylem’s reported cash.",
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      "text": "Source: Xylem Q2 2023 Earnings release and 8-K filing (also see prior year 8-K for revisions)",
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      "text": "Xylem Recently Exposed Two Sets of Cash Flow Statements. How Can Cash Be Trusted?",
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