{
  "docId": "019de50f-3515-7091-a5fb-7a5b15f7388d",
  "docSlug": "7608e2b67160c75406354544171fcc04",
  "documentTitle": "Baird | Investment Banking Pitch Book | 79 slides",
  "authorId": "baird",
  "authorName": "Baird",
  "documentKindSlug": "consulting-deck",
  "documentKindLabel": "Consulting deck",
  "sourceTypeSlug": "investment_bank",
  "sourceTypeLabel": "Investment bank",
  "presentationDate": "2018-10-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 33,
  "pageCount": 79,
  "prevPage": 32,
  "nextPage": 34,
  "slideType": "financial_analysis",
  "function": "present_solution",
  "density": "balanced",
  "nDataPoints": 8,
  "notes": "The slide compares Discounted Cash Flow, Discounted Distribution, Public Comparables, and Precedent Transactions.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de50f-3515-7091-a5fb-7a5b15f7388d/33",
  "deckHref": "/decks/019de50f-3515-7091-a5fb-7a5b15f7388d",
  "deckJsonHref": "/decks/019de50f-3515-7091-a5fb-7a5b15f7388d.json",
  "deckAnchorHref": "/decks/019de50f-3515-7091-a5fb-7a5b15f7388d#slide-33",
  "components": [
    {
      "bbox": {
        "h": 0.45,
        "w": 0.88,
        "x": 0.06,
        "y": 0.25
      },
      "kind": "chart",
      "text": "Valuation ranges for four methods",
      "attrs": null,
      "subkind": "box",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "edb74c83-4ece-462c-bcfc-0bd143797bf1",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.16,
        "x": 0.03,
        "y": 0.78
      },
      "kind": "framework",
      "text": "Discounted Distribution Analysis Methodology",
      "attrs": null,
      "subkind": "instance",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ed082da9-bcca-4d1b-99c8-eb2ec880b866",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.75,
        "x": 0.2,
        "y": 0.78
      },
      "kind": "list",
      "text": "Implied equity value per AM Common Unit based on the present value of future forecast cash distributions attributable to AM common unitholders. Discount rate range derived from a cost of equity analysis for AM, utilizing CAPM. Terminal value based on a terminal yield calculation, derived from an observation and analysis of AM's current publicly traded midstream MLP peer group",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "9b20f6f2-cfb3-4f98-8430-1ac03e0e4dc6",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.7,
        "x": 0.06,
        "y": 0.14
      },
      "kind": "paragraph",
      "text": "Implied valuation ranges per AM Common Unit based on Discounted Distribution Analysis",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "94e45018-db8e-43dc-982c-4cd533820123",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.4,
        "x": 0.06,
        "y": 0.07
      },
      "kind": "title",
      "text": "AM VALUATION SUMMARY",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "1acc452a-3922-4cb2-a83d-5caf7a917277",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "analytical-method",
      "slug": null,
      "matchId": "a1c6acb6-7a1e-4554-966c-ffdd8a49b32d",
      "evidence": "Methodology box detailing the Discounted Distribution Analysis approach",
      "confidence": 0.9
    }
  ],
  "arcBeats": [
    {
      "to": 57,
      "from": 29,
      "beatId": "e132fc2d-4734-4ded-b009-f9f7758a3019",
      "arcName": "The Consultant's Gambit",
      "arcSlug": "consultants-gambit",
      "beatName": "Evidence & Proof",
      "beatSlug": "consultants-gambit-evidence-proof",
      "evidence": "Extensive financial analysis and valuation summaries.",
      "position": 3,
      "confidence": 0.8,
      "parentBeatName": "Evidence",
      "parentBeatSlug": "evidence"
    }
  ],
  "loops": [
    {
      "to": 57,
      "from": 29,
      "name": "Iceberg",
      "slug": "10-iceberg",
      "bestFor": "Consulting, complex problem solving, organizational change",
      "matchId": "d5b12364-11eb-4d8c-ac19-c2254adaccc0",
      "evidence": "In-depth financial analysis and valuation summaries.",
      "position": 1,
      "objective": "To reveal the underlying financial analysis",
      "structure": "The Symptom (Visible) -> The System (Hidden) -> The Root Cause",
      "confidence": 0.7,
      "description": "Reveal that the visible problem is merely a symptom of a deeper root cause"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}