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  "documentTitle": "Arconic Inc. (ARNC)",
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  "authorName": "Elliott",
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  "notes": "Uses a Marimekko-style bar chart to show the impact of including/excluding Warrick on performance metrics.",
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      "kind": "callout",
      "text": "Looking at the rolling assets that management actually operated for 2016, GRP missed both its revenue and EBITDA/MT target",
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      "text": "Only by putting Warrick into Alcoa Corp. does management claim to hit the EBITDA/MT target",
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      "text": "Source: Arconic 2016 10-K; Alcoa Corp. Q4 2016 Earnings Presentation; Alcoa Corp. 2016 10-K; Arconic Investor Presentations. Notes: Warrick includes results from Q4 at Alcoa Corp. with rounding used in the manner most favorable to Arconic",
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      "text": "Only by putting Warrick into Alcoa Corp. does management claim to hit the EBITDA/MT target",
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