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  "notes": "Includes a sensitivity table for implied all-in exchange ratios based on different cash components.",
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      "kind": "paragraph",
      "text": "Benefits: May be a source of capital to initiate a buyback program at AR. Considerations: AR would lose out on potential longer-term upside of holding new AMGP shares.",
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      "text": "(1) Results in pro forma leverage at AMGP of 3.0x NTM EBITDA. (2) Equals the total implied exchange ratio if the transaction were done with 100% equity, including the $750 million cash component.",
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