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  "docSlug": "055a6ecaee56d7afdd15a39145ee4071",
  "documentTitle": "Goldman Sachs | Investment Banking Pitch Book | 6 slides",
  "authorId": "goldman-sachs",
  "authorName": "Goldman Sachs",
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  "sourceTypeSlug": "investment_bank",
  "sourceTypeLabel": "Investment bank",
  "presentationDate": "2018-10-01 00:00:00",
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  "pageNumber": 3,
  "pageCount": 6,
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  "slideType": "financial_analysis",
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  "density": "dense",
  "nDataPoints": 48,
  "notes": "The slide compares two scenarios: 'Status Quo Coverage' and 'Expected Dividend Policy' across 2019-2022.",
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  "slideHref": "/slides/019de06f-b9c7-7549-b5c8-2af1249a1458/3",
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      "kind": "callout",
      "text": "The expected change in GP Dividend Policy to retain more cash flow rather than maximizing dividends implies DCF should become the more important valuation metric to accurately measure the value of the cash flows generated by the assets",
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      "kind": "source-note",
      "text": "Source: Midstream Standalone Projections, GP Pro Forma Projections, Bloomberg market data as of 5-Oct-2018. As communicated by Management during week of October 1st, and which is subject to New GP board approval. Mid-point of guidance reflected in forecast provided by management.",
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      "text": "Expected Dividend Policy table showing DCF/Share, Mid Point, Implied Coverage, Retained Cash Flow, and % changes for 2019-2022.",
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      "text": "Status Quo Coverage table showing DCF/Share, Assumed Coverage, Implied Dividend, and Retained Cash Flow for 2019-2022.",
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      "kind": "title",
      "text": "Implications of New GP Expected Dividend Policy",
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      "name": "Cost Of Inaction",
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