{
  "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": 82,
  "pageCount": 336,
  "prevPage": 81,
  "nextPage": 83,
  "slideType": "peer_gap",
  "function": "expose_gap",
  "density": "balanced",
  "nDataPoints": 16,
  "notes": "The slide includes a footer note clarifying the adjustment of margins for pension expenses.",
  "elementsJson": [
    "headline_text",
    "callout_box",
    "bar_chart_grouped",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9c-571191cc7adb/82",
  "deckHref": "/decks/019dd923-622c-750b-8b9c-571191cc7adb",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9c-571191cc7adb.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-571191cc7adb#slide-82",
  "components": [
    {
      "bbox": {
        "h": 0.12,
        "w": 0.23,
        "x": 0.75,
        "y": 0.02
      },
      "kind": "callout",
      "text": "However, Arconic has simply been unable to close the gap with Precision Castparts under current management",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "1389b812-62e3-4fcf-b092-c64d709101c2",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.55,
        "w": 0.8,
        "x": 0.1,
        "y": 0.2
      },
      "kind": "chart",
      "text": "PCC vs. Arconic EPS Business EBITDA Margin",
      "attrs": null,
      "subkind": "bar-grouped",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "caaa866e-c128-428a-9a6e-79fbc557c65c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "EBITDA margin: 620 bps",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-0392-76bd-8ef8-6b1efafb729d",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.96,
        "x": 0.02,
        "y": 0.9
      },
      "kind": "paragraph",
      "text": "For much of this period, EPS has actually enjoyed a more favorable product-margin mix vs. PCC",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c8b30ce8-1a25-4c70-a5e3-101b7959e9b6",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.96,
        "x": 0.02,
        "y": 0.82
      },
      "kind": "source-note",
      "text": "Source: Company filings; Arconic Investor Presentations. Note: Arconic EPS margins are fully adjusted and include proportional share of estimated downstream corporate and pension expenses based on historical LegacyCo reported figures; historical PCC numbers adjusted for pension expenses",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "8c2e754e-a28b-4588-8341-33bea86eda2c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.65,
        "x": 0.04,
        "y": 0.04
      },
      "kind": "title",
      "text": "EPS Results: EPS Margins Have Consistently Lagged PCC",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "3641ee6d-2a2e-4805-a679-af26f3bcca7c",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "comparison_frame",
      "slug": null,
      "matchId": "6f63eca0-9931-4042-b9ae-024c517591f9",
      "evidence": "Direct comparison of EBITDA margins between two companies over an 8-year period.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}