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  "documentTitle": "Floor & Decor Holdings, Inc. (FND)",
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  "authorName": "Spruce Point Capital Management",
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      "text": "1. How much in vendor rebates from volume purchases did FND receive in the past three years? 2. What is the annual effect of the volume rebates on gross margins? 3. Why does FND consider amounts payable to financial intermediaries for its supply chain program as trade payables? Shouldn't they be classified as financial debts? 4. Why does FND classify supply chain program payments in operating cash flow (and omit recent disclosure) if payments are really being made to banks? 5. Why did Audit Chair Giles, when he was CFO/CAO at Linens 'N Things, classify supply chain finance payments as financing cash flows? Is FND properly accounting for interest expense associated with the financing programs?",
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