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  "notes": "Contains financial data tables for valuation analysis.",
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      "text": "Source: Bloomberg, Duff & Phelps, FactSet, Federal Reserve, Company filings as of 10/5/2018. (1) Illustrative low and high range reflects a -/+ 100 bps range around after tax current 5.6% cost of debt at AM. (2) Barra beta as of 8/31/2018. Illustrative low and high range reflects a -/+ 15% range around Barra beta. (3) 20-year treasury bond yield as of 9/21/18. (4) Duff & Phelps historical arithmetic premium. (5) Optimal Capital Structure based on Total Debt of 3.5x 2019E EBITDA",
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