{
  "docId": "019de50f-1608-7612-a3c4-7052b7919310",
  "docSlug": "51a672022ab82be1feb782fd3206c0e5",
  "documentTitle": "Baird | Investment Banking Pitch Book | 29 slides",
  "authorId": "baird",
  "authorName": "Baird",
  "documentKindSlug": "consulting-deck",
  "documentKindLabel": "Consulting deck",
  "sourceTypeSlug": "investment_bank",
  "sourceTypeLabel": "Investment bank",
  "presentationDate": "2018-07-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 25,
  "pageCount": 29,
  "prevPage": 24,
  "nextPage": 26,
  "slideType": "financial_analysis",
  "function": "quantify_impact",
  "density": "balanced",
  "nDataPoints": 24,
  "notes": "The slide includes a bar chart comparing cash flows from 2019-2022 and a table showing the derivation of implied shares.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de50f-1608-7612-a3c4-7052b7919310/25",
  "deckHref": "/decks/019de50f-1608-7612-a3c4-7052b7919310",
  "deckJsonHref": "/decks/019de50f-1608-7612-a3c4-7052b7919310.json",
  "deckAnchorHref": "/decks/019de50f-1608-7612-a3c4-7052b7919310#slide-25",
  "components": [
    {
      "bbox": {
        "h": 0.35,
        "w": 0.96,
        "x": 0.02,
        "y": 0.16
      },
      "kind": "chart",
      "text": "Series B Cash Flow Comparison ($ in millions)",
      "attrs": null,
      "subkind": "bar-grouped",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "806d4dae-c50b-4fef-b63d-df6abf295718",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.2,
        "x": 0.02,
        "y": 0.98
      },
      "kind": "source-note",
      "text": "Source: Antero management projections.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "8e102525-5fa3-46b1-b184-23a501d356e6",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.22,
        "w": 0.76,
        "x": 0.12,
        "y": 0.68
      },
      "kind": "table",
      "text": "Status Quo Cash Flow to Series B / Pro Forma AMGP Dividend = Implied \"Cash Flow Neutral\" Shares",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b6a04405-285e-4b77-aa75-715a96984560",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.45,
        "x": 0.02,
        "y": 0.58
      },
      "kind": "title",
      "text": "\"CASH FLOW NEUTRAL\" SHARES CALCULATION",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "1db6f004-025b-446f-acbd-17771b94483d",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.58,
        "x": 0.02,
        "y": 0.06
      },
      "kind": "title",
      "text": "SERIES B UNIT CASH FLOW COMPARISON",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "2164b9a7-c4a0-4dfd-bada-0514bb128145",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 29,
      "from": 21,
      "beatId": "4ecae003-54fa-4836-b931-911dfeb4a843",
      "arcName": "The Consultant's Gambit",
      "arcSlug": "consultants-gambit",
      "beatName": "Impact & Next Steps",
      "beatSlug": "consultants-gambit-impact-next-steps",
      "evidence": "The document summarizes the levers discussed and provides an illustrative counter construct.",
      "position": 3,
      "confidence": 0.8,
      "parentBeatName": "Resolution",
      "parentBeatSlug": "resolution"
    }
  ],
  "loops": [
    {
      "to": 25,
      "from": 20,
      "name": "Cost Of Inaction",
      "slug": "27-cost-of-inaction",
      "bestFor": "Urgent budget requests, compliance, risk mitigation",
      "matchId": "d698055e-b434-4bc1-9d00-c84440ad8f2f",
      "evidence": "The document presents a sensitivity analysis of different valuation scenarios.",
      "position": 1,
      "objective": "Highlight the importance of considering different valuation approaches",
      "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
}