{
  "docId": "019dd923-622c-750b-8b9c-8f15f12c2ba7",
  "docSlug": "c81ff0738a2c",
  "documentTitle": "Southwest Airlines (LUV)",
  "authorId": "02_Elliott_Management",
  "authorName": "Elliott",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2024-06-10 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 48,
  "pageCount": 51,
  "prevPage": 47,
  "nextPage": 49,
  "slideType": "before_after",
  "function": "quantify_opportunity",
  "density": "dense",
  "nDataPoints": 6,
  "notes": "Uses a waterfall-style bridge to illustrate the delta between current and future states.",
  "elementsJson": [
    "headline_text",
    "subtitle_text",
    "bar_chart_vertical",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9c-8f15f12c2ba7/48",
  "deckHref": "/decks/019dd923-622c-750b-8b9c-8f15f12c2ba7",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9c-8f15f12c2ba7.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-8f15f12c2ba7#slide-48",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "We believe a Stronger Southwest would deliver substantially more value to employees from higher profit sharing driven by enhanced profitability and better share price performance",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-2b66-7100-8959-e6dc4de72952",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.65,
        "w": 0.45,
        "x": 0.52,
        "y": 0.23
      },
      "kind": "chart",
      "text": "Value of Retirement Plan's Southwest Stock comparison",
      "attrs": null,
      "subkind": "waterfall-bridge",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a96d95ab-8b0f-4985-a675-7d5647969b5e",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.65,
        "w": 0.45,
        "x": 0.05,
        "y": 0.23
      },
      "kind": "chart",
      "text": "Annual Profit Sharing Expense comparison",
      "attrs": null,
      "subkind": "waterfall-bridge",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "eb944a60-27a9-45bc-9e8d-84e785df1cf8",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "Annual Profit Sharing Expense: $790M",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-2b66-7100-8959-eac3732fff15",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.9,
        "x": 0.04,
        "y": 0.12
      },
      "kind": "paragraph",
      "text": "We believe a Stronger Southwest would deliver substantially more value to employees from higher profit sharing driven by enhanced profitability and better share price performance",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "eb7dae28-d93a-4d87-a8c6-b61658a5b0d7",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.6,
        "x": 0.12,
        "y": 0.95
      },
      "kind": "source-note",
      "text": "Source: Company filings, Department of Labor, Bloomberg as of 6/7/2024, Elliott analysis and estimates.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "cf8939b0-0a27-4428-b3ef-6ff9206f6be8",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.5,
        "x": 0.04,
        "y": 0.05
      },
      "kind": "title",
      "text": "The Best Path Forward for Employees",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "0aee08e0-6e70-4471-8576-7c0240f29c3b",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Waterfall / value bridge",
      "slug": "waterfall-bridge",
      "agent": null,
      "layer": "slide",
      "matchId": "2c211775-14e3-4c83-9b80-16a6c0fb7d2c",
      "evidence": "chart/waterfall-bridge: Value of Retirement Plan's Southwest Stock comparison",
      "confidence": 0.9
    }
  ],
  "frameworks": [
    {
      "name": "before-after-bridge",
      "slug": null,
      "matchId": "9c0c179f-cca4-481c-abbf-fdd22a676c98",
      "evidence": "Uses visual bridges to show the delta between current and future states for two key metrics.",
      "confidence": 0.95
    }
  ],
  "arcBeats": [
    {
      "to": 49,
      "from": 43,
      "beatId": "1f9bbc23-2aff-4e6e-9f2c-38e32adf5520",
      "arcName": "Problem-Agitate-Solution",
      "arcSlug": "problem-agitate-solution",
      "beatName": "Solution",
      "beatSlug": "problem-agitate-solution-solution-provide-relief",
      "evidence": "The deck presents a solution, including new leadership, a comprehensive business review, and a turnaround plan",
      "position": 2,
      "confidence": 0.9,
      "parentBeatName": "Resolution",
      "parentBeatSlug": "resolution"
    }
  ],
  "loops": [
    {
      "to": 49,
      "from": 40,
      "name": "Before After",
      "slug": "21-before-after",
      "bestFor": "Product demos, process improvements, ROI justification",
      "matchId": "e80586e1-26f0-4fcf-b5f2-1ce920c8bfcb",
      "evidence": "The deck presents a clear before-after analysis to support its argument",
      "position": 2,
      "objective": "What would be the outcome of a turnaround plan?",
      "structure": "The Old Way (Pain) -> The Moment of Change -> The New Way (Glory) -> The Measurable Delta",
      "confidence": 0.8,
      "description": "Show the dramatic contrast between the old way and the new way through side-by-side comparison"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}