{
  "docId": "019dd923-622c-750b-8b9c-571191cc7adb",
  "docSlug": "48a8cbf2f1d7",
  "documentTitle": "Arconic Inc. (ARNC)",
  "authorId": "02_Elliott_Management",
  "authorName": "Elliott",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2017-04-11 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 289,
  "pageCount": 336,
  "prevPage": 288,
  "nextPage": 290,
  "slideType": "revenue_buildup",
  "function": "quantify_opportunity",
  "density": "dense",
  "nDataPoints": 32,
  "notes": "The slide uses a 'fill the mill' strategy to justify lower-margin incremental volume as a driver for overall profitability.",
  "elementsJson": [
    "headline_text",
    "callout_box",
    "bullet_list",
    "kpi_table",
    "bar_chart_vertical",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9c-571191cc7adb/289",
  "deckHref": "/decks/019dd923-622c-750b-8b9c-571191cc7adb",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9c-571191cc7adb.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-571191cc7adb#slide-289",
  "components": [
    {
      "bbox": {
        "h": 0.08,
        "w": 0.41,
        "x": 0.56,
        "y": 0.04
      },
      "kind": "callout",
      "text": "Arconic can boost EBITDA dollars and generate higher free cash flow by focusing on “filling the mill”",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "aa1a52b3-e8df-44bc-841f-f2595a4329e2",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "callout",
      "text": "Incremental utilization (at lower EBITDA/MT) drives higher EBITDA and FCF",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-0393-73a7-a0a2-0fed0f7949da",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.38,
        "x": 0.6,
        "y": 0.58
      },
      "kind": "chart",
      "text": "EBITDA and Utilization comparison between 2016A and 2019P.",
      "attrs": null,
      "subkind": "bar-vertical",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "0de1cd93-293b-409f-987a-1502d8783af3",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.2,
        "w": 0.38,
        "x": 0.6,
        "y": 0.27
      },
      "kind": "list",
      "text": "Key Points: Market growth, contribution margins, low-margin volume strategy, and productivity improvements.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "59a9a7ec-25c8-47c0-98f8-cc1950ddf28b",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "EBITDA: $879",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-0393-73a7-a0a2-13d635d07e7b",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.5,
        "x": 0.03,
        "y": 0.86
      },
      "kind": "source-note",
      "text": "Note: GRP assumed capacity = 2,462 KT/annum; capacity utilization practically maxes out between 85-90%",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "2d614fc2-3b8a-46ac-ae2d-f5868ce6a0ef",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.45,
        "w": 0.53,
        "x": 0.03,
        "y": 0.245
      },
      "kind": "table",
      "text": "Financial projection table for 2016A-2019P covering Revenue, EBITDA, Shipments, Margins, Capex, and Utilization.",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "bd5ee6cd-a1a4-4a02-931a-6a1bebc90568",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.94,
        "x": 0.03,
        "y": 0.9
      },
      "kind": "title",
      "text": "Incremental utilization (at lower EBITDA/MT) drives higher EBITDA and FCF",
      "attrs": null,
      "subkind": "action-title",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c12c3edb-e7ba-4bd5-a7dc-abb925c32d9a",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.35,
        "x": 0.03,
        "y": 0.04
      },
      "kind": "title",
      "text": "GRP Opportunity: Elliott Case",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "eb2aa6d7-f97b-42b7-9079-472d5c6706d0",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "action-titles",
      "slug": null,
      "matchId": "b80b9f7c-f321-496c-a359-89af6ae3d7c5",
      "evidence": "The bottom banner summarizes the slide's core argument.",
      "confidence": 1
    }
  ],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}