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  "documentTitle": "Tudor, Pickering, Holt &amp; Co | Investment Banking Pitch Book | 94 slides",
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  "authorName": "Tudor Pickering Holt",
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  "presentationDate": "2018-09-01 00:00:00",
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  "notes": "Contains two side-by-side financial projection tables with detailed line items for EBITDA, tax adjustments, and per-unit distribution calculations.",
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      "text": "CONFIDENTIAL DRAFT SUBJECT TO CHANGE",
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      "text": "Source: Management projections and FactSet as of 8/30/2018. Note: 1.614x implied after-tax XR represents a 1.614x equity XR and cash consideration of $3.415 / unit. Cash assumed to be used to eliminate unitholder tax liability.",
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      "text": "(1) Return of capital per share / unit calculated as the total distributions to holders when Current Earnings & Profit is less than 0. (2) Qualified dividend calculated as equal to the lesser of Current Earnings & Profits or Distributions to Shareholder assuming Current Earnings & Profit is greater than 0. (3) Partial Return of Capital is calculated as the difference between Distributions to Shareholders and Current Earnings & Profits assuming Qualified Dividends are applicable.",
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