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  "documentTitle": "GTT Communications, Inc. (GTT)",
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  "authorName": "Wolfpack Research",
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  "sourceTypeLabel": "Short seller",
  "presentationDate": "2019-06-06 00:00:00",
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  "notes": "The slide highlights aggressive accounting revaluations to manipulate depreciation/amortization expenses.",
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      "text": "In fact, GTT adjusted the value of every single line item from the original PPA. Incredibly, GTT revalued 6 of the 9 ‘asset’ line items by 40% or more.",
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      "text": "PP&E valuation: 175%",
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      "text": "The PPA in GTT's March 1, 2019 10-K is significantly different than the PPA provided by GTT just under 8 months earlier. Here, GTT marked up the carrying value of Interoute's PP&E by another $422 million...",
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      "text": "These adjustments had two significant effects on GTT's financial results: First, since GTT can depreciate PP&E over a period as long as 40 years, it was in GTT's interest to shift as much of the intangible asset value to PP&E as possible...",
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      "text": "Interoute PPA Analysis table comparing 7/6/2018 8-K and 3/1/2019 10-K figures across asset and liability line items.",
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