{
  "docId": "019dd923-622c-750b-8b9b-cf2aa45d96dd",
  "docSlug": "76c9a698803d",
  "documentTitle": "Pershing Square Holdings Portfolio (multi-position) (PSH)",
  "authorId": "01_Pershing_Square",
  "authorName": "William Ackman",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2017-04-24 00:00:00",
  "orientation": "landscape",
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  "pageNumber": 14,
  "pageCount": 86,
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  "nextPage": 15,
  "slideType": "peer_benchmark",
  "function": "compare_peers",
  "density": "sparse",
  "nDataPoints": 9,
  "notes": "The chart uses a red bar for the subject company (Mondelez) and blue bars for peers to highlight the performance gap.",
  "elementsJson": [
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  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9b-cf2aa45d96dd/14",
  "deckHref": "/decks/019dd923-622c-750b-8b9b-cf2aa45d96dd",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9b-cf2aa45d96dd.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-cf2aa45d96dd#slide-14",
  "components": [
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      "bbox": {
        "h": 0.65,
        "w": 0.9,
        "x": 0.05,
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      "kind": "chart",
      "text": "CY 2016 EBIT Margin",
      "attrs": null,
      "subkind": "bar-vertical",
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    {
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      "kind": "metric",
      "text": "EBIT margin: 15.3%",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
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      "componentId": "019dd953-70f9-71ae-a664-68efa3c28fe4",
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        "y": 0.915
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      "kind": "source-note",
      "text": "Source: Public filings. Note: Represents full year 2016 reported results for all companies except CPB, GIS, and SJM which are based on reported results calendarized to a 12/31/16 year end.",
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        "x": 0.04,
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      "kind": "title",
      "text": "Margins Remain Well Below Best-in-Class Levels",
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      "evidence": "Comparing subject company performance against a peer group to highlight a performance gap.",
      "confidence": 0.9
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      "arcName": "AIDA",
      "arcSlug": "aida",
      "beatName": "Desire",
      "beatSlug": "aida-desire",
      "evidence": "Detailed analysis of key portfolio companies, such as Mondelēz International, Restaurant Brands International, and Chipotle, aims to create desire for the investment opportunities.",
      "position": 2,
      "confidence": 0.8,
      "parentBeatName": "Evidence",
      "parentBeatSlug": "evidence"
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  ],
  "loops": [
    {
      "to": 14,
      "from": 13,
      "name": "Before After",
      "slug": "21-before-after",
      "bestFor": "Product demos, process improvements, ROI justification",
      "matchId": "c4c837a0-d12f-4f3b-9724-6e3ade6310f0",
      "evidence": "The 'before-after' comparison illustrates the current state and potential future state of MDLZ's margins.",
      "position": 0,
      "objective": "To highlight the potential for margin improvement in Mondelēz International.",
      "structure": "The Old Way (Pain) -> The Moment of Change -> The New Way (Glory) -> The Measurable Delta",
      "confidence": 0.7,
      "description": "Show the dramatic contrast between the old way and the new way through side-by-side comparison"
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