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  "documentTitle": "GTT Communications, Inc. (GTT)",
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  "presentationDate": "2019-06-06 00:00:00",
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  "notes": "The slide uses a table to quantify the impact of accounting adjustments on reported vs expected figures, specifically highlighting the 'D&A Adjustment' line item.",
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      "text": "These adjustments inflated GTT’s operating profit and net income by $78.7 million in 2018 and an increase of $37.9 million in Q1 2019 – which equates to an increase of more than $150 million on an annualized basis for 2019.",
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      "text": "Net (loss) income: $151.6",
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      "text": "GTT has extended the amortization period of its “customer lists” intangible asset in each of the past three years. In GTT’s 2016 10-K, it lists the amortization period of customer lists as 3 to 7 years.",
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      "text": "GTT’s aggressive accounting has two key components which, when combined, create the operating expense reductions shown above – depreciation/amortization period extensions and post-close purchase price allocation (“PPA”) adjustments.",
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      "text": "GTT adjusted the purchase price allocation (“PPA”) and stretched the useful lives/amortization periods of the assets acquired from Interoute in order to hide its abysmal financial results from investors.",
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      "text": "2. Math is a Science; Accounting is an Art Form – Tools for Financial Engineering",
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