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  "documentTitle": "Floor & Decor Holdings, Inc. (FND)",
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  "authorName": "Spruce Point Capital Management",
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  "sourceTypeLabel": "Short seller",
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  "notes": "The slide uses a before-and-after comparison of financial disclosures to demonstrate how lease obligations were previously obscured.",
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      "kind": "callout",
      "text": "Now fully executed leases included above!",
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      "text": "In 2004, after LIN restated its financials for lease accounting (among other things) it specifically increased future minimum lease payments to include executed contracts.",
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      "text": "2003: Pre-Financial Restatement data table",
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      "text": "Spruce Point finds troubling evidence that when FND's Audit Committee Chairman Giles was CFO/Chief Accounting Officer at Linens N' Things (LIN) it obscured disclosure of its executed lease obligations.",
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      "text": "Source: LIN 10-K's 2002, 2003, 2004",
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      "text": "When FND's Audit Chair Was CFO/CAO At Linens 'N Things, There Was A Lease Restatement",
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