{
  "docId": "019dd923-622c-750b-8b9b-7e7228555e88",
  "docSlug": "36c903ba19aa",
  "documentTitle": "Allergan, Inc. (AGN)",
  "authorId": "01_Pershing_Square",
  "authorName": "William Ackman",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2014-04-22 00:00:00",
  "orientation": "portrait",
  "aspectRatio": 0.70665085,
  "pageNumber": 60,
  "pageCount": 110,
  "prevPage": 59,
  "nextPage": 61,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "balanced",
  "nDataPoints": 6,
  "notes": "The slide uses a visual bracket to emphasize the cumulative difference between the two metrics over the three-year period.",
  "elementsJson": [
    "headline_text",
    "callout_box",
    "bar_chart_grouped",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9b-7e7228555e88/60",
  "deckHref": "/decks/019dd923-622c-750b-8b9b-7e7228555e88",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9b-7e7228555e88.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-7e7228555e88#slide-60",
  "components": [
    {
      "bbox": {
        "h": 0.05,
        "w": 0.8,
        "x": 0.09,
        "y": 0.14
      },
      "kind": "callout",
      "text": "GAAP Net Income has not been a good proxy for Valeant's free cash flow",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "4e3ea236-de2c-41f2-b02b-600c77857b5e",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.45,
        "w": 0.7,
        "x": 0.15,
        "y": 0.2
      },
      "kind": "chart",
      "text": "Comparison of GAAP Net Income vs GAAP Cash From Operations (2011-2013)",
      "attrs": null,
      "subkind": "bar-grouped",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "fd2f7c68-6216-4d1f-97f6-58eb81e063c9",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "GAAP Net Income vs Cash Flow: ~$4.5bn",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd952-f5d4-752d-aacf-e0b3c25b3130",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.2,
        "x": 0.11,
        "y": 0.5
      },
      "kind": "source-note",
      "text": "Source: 2011, 2012, 2013 Valeant Form 10-k.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e7c5b836-9fa5-4fca-9614-7111cbfc67bd",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.8,
        "x": 0.09,
        "y": 0.07
      },
      "kind": "title",
      "text": "Valeant's GAAP Net Income Does Not Track Cash Flow",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "0388e109-a293-4c7c-9da4-173ac64c9148",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "fraud-exposure",
      "slug": null,
      "matchId": "3c1c9146-b09e-4136-906a-5e10b58b8c0e",
      "evidence": "Highlighting the divergence between accounting income and cash flow to suggest financial manipulation.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}