{
  "docId": "019de06f-40cc-752d-8c4f-4df95c66f67e",
  "docSlug": "3b6692fad4a697b699d7189211363e42",
  "documentTitle": "Goldman Sachs | Investment Banking Pitch Book | 26 slides",
  "authorId": "goldman-sachs",
  "authorName": "Goldman Sachs",
  "documentKindSlug": "consulting-deck",
  "documentKindLabel": "Consulting deck",
  "sourceTypeSlug": "investment_bank",
  "sourceTypeLabel": "Investment bank",
  "presentationDate": "2012-10-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.294673,
  "pageNumber": 23,
  "pageCount": 26,
  "prevPage": 22,
  "nextPage": 24,
  "slideType": "other",
  "function": "compare_options",
  "density": "dense",
  "nDataPoints": 0,
  "notes": "The slide uses a comparative list structure to evaluate tax implications for different deal structures.",
  "elementsJson": null,
  "metadataConfidence": 0.95,
  "imagePath": null,
  "slideHref": "/slides/019de06f-40cc-752d-8c4f-4df95c66f67e/23",
  "deckHref": "/decks/019de06f-40cc-752d-8c4f-4df95c66f67e",
  "deckJsonHref": "/decks/019de06f-40cc-752d-8c4f-4df95c66f67e.json",
  "deckAnchorHref": "/decks/019de06f-40cc-752d-8c4f-4df95c66f67e#slide-23",
  "components": [
    {
      "bbox": {
        "h": 0.05,
        "w": 0.75,
        "x": 0.13,
        "y": 0.93
      },
      "kind": "disclaimer",
      "text": "Goldman Sachs does not provide accounting, tax, or legal advice...",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "82c31e90-97b9-46a9-a3d7-3efedb3e2dc1",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.3,
        "w": 0.2,
        "x": 0.56,
        "y": 0.25
      },
      "kind": "list",
      "text": "Spin-Merger: Tax-free status, Denali shareholders need to own >50%, Potential inversion, Merger with foreign partner facilitates inversion, Need to consider structures for Denali shareholders, Repatriation tax leakage",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "196d557a-7fbe-4a98-be0a-f1065446e28c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.3,
        "w": 0.2,
        "x": 0.77,
        "y": 0.25
      },
      "kind": "list",
      "text": "Return of Capital: Tax leakage if offshore cash is utilized, Limited capacity for additional tax-efficient repatriation, Use of debt vs. offshore cash, Repatriation holiday?, Corporate tax reform?, Impact of additional leverage",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "22b1600a-9c5e-4228-987d-baa3988c8257",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.5,
        "w": 0.2,
        "x": 0.13,
        "y": 0.25
      },
      "kind": "list",
      "text": "Leveraged Buyout: Domicile of parent company, Existing offshore cash, Ongoing tax rate considerations, Inversion: potential rationale, Inversion: considerations, DFS: ability to use as home for offshore cash, Impact of corporate tax reform?",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "24a1b40b-7534-4270-ab86-008339bab60c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.3,
        "w": 0.2,
        "x": 0.35,
        "y": 0.25
      },
      "kind": "list",
      "text": "Spin-off / Separation: Ability to consummate tax-free spin-off, Some potential tax leakage, Inversion not feasible in stand-alone spin-off, Repatriation tax leakage, Effective tax rates, Client likely to have lower tax rate than Enterprise",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "24ace978-a300-4c97-b4dc-edf5239c7501",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.4,
        "x": 0.13,
        "y": 0.07
      },
      "kind": "title",
      "text": "Preliminary Tax Considerations",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e9faf8cd-7a25-48e5-9393-cf03fd2b6750",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "comparison_frame",
      "slug": null,
      "matchId": "982b6a7f-1aba-41d1-83cf-37a743fb03a0",
      "evidence": "The slide compares four distinct strategic options across a set of common tax criteria.",
      "confidence": 0.8
    }
  ],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}