{
  "docId": "019de070-1dc5-707d-b5a3-2ff7c8f537e5",
  "docSlug": "8255a8a20d5abf5a9409d57e87219426",
  "documentTitle": "Evercore | Investment Banking Pitch Book | 54 slides",
  "authorId": "evercore",
  "authorName": "Evercore",
  "documentKindSlug": "consulting-deck",
  "documentKindLabel": "Consulting deck",
  "sourceTypeSlug": "investment_bank",
  "sourceTypeLabel": "Investment bank",
  "presentationDate": "2020-06-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.2938006,
  "pageNumber": 16,
  "pageCount": 54,
  "prevPage": 15,
  "nextPage": 17,
  "slideType": "financial_analysis",
  "function": "analyze_data",
  "density": "balanced",
  "nDataPoints": 80,
  "notes": "Includes mid-year discounting and terminal value calculation.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de070-1dc5-707d-b5a3-2ff7c8f537e5/16",
  "deckHref": "/decks/019de070-1dc5-707d-b5a3-2ff7c8f537e5",
  "deckJsonHref": "/decks/019de070-1dc5-707d-b5a3-2ff7c8f537e5.json",
  "deckAnchorHref": "/decks/019de070-1dc5-707d-b5a3-2ff7c8f537e5#slide-16",
  "components": [
    {
      "bbox": {
        "h": 0.11,
        "w": 0.29,
        "x": 0.66,
        "y": 0.22
      },
      "kind": "callout",
      "text": "Assumes mid-point of 3-5% YoY growth rate on total corporate expenses starting 2021 and 0% YoY growth rate on stock based compensation starting 2022 per LBRD management guidance",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "9437abf6-ad76-4581-b6a5-298680d43b00",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.91,
        "x": 0.045,
        "y": 0.87
      },
      "kind": "source-note",
      "text": "Source: LBRD Management. 1. Assumes 6.75% WACC and 2.5% weighted average perpetuity growth rate based on 2023E stock based compensation growth at 0% and total corporate expenses growth at mid point of 3 - 5% per LBRD management guidance",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "36ee95d5-b6d2-42f3-9ee5-31df3984cb45",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.45,
        "w": 0.91,
        "x": 0.045,
        "y": 0.13
      },
      "kind": "table",
      "text": "Historical and projected corporate expenses table",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "71d26d51-82cd-432f-9b80-30dd026c2034",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.22,
        "w": 0.91,
        "x": 0.045,
        "y": 0.6
      },
      "kind": "table",
      "text": "NPV of LBRD Corp. Expense table",
      "attrs": null,
      "subkind": "valuation",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b7366643-c234-4b35-800c-b5768abbaa9b",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.33,
        "x": 0.045,
        "y": 0.085
      },
      "kind": "title",
      "text": "LBRD Corporate Expense",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "94aa0b10-b9ee-463a-8110-9b92893f57eb",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 20,
      "from": 11,
      "beatId": "e24e7f40-3534-4393-9668-d1fb02bde341",
      "arcName": "The Consultant's Gambit",
      "arcSlug": "consultants-gambit",
      "beatName": "Evidence & Proof",
      "beatSlug": "consultants-gambit-evidence-proof",
      "evidence": "The deck provides evidence and proof to support the financial analysis",
      "position": 2,
      "confidence": 0.8,
      "parentBeatName": "Evidence",
      "parentBeatSlug": "evidence"
    }
  ],
  "loops": [
    {
      "to": 20,
      "from": 15,
      "name": "Cost Of Inaction",
      "slug": "27-cost-of-inaction",
      "bestFor": "Urgent budget requests, compliance, risk mitigation",
      "matchId": "567ea90b-ec63-4591-9f52-dca60d88d7bf",
      "evidence": "The deck presents sensitivity analysis to evaluate the cost of inaction",
      "position": 0,
      "objective": "To evaluate the cost of inaction",
      "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
      "confidence": 0.6,
      "description": "Quantify what happens if the audience does nothing"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}