{
  "docId": "019de50f-5c3a-712d-b472-2be7d9f26c50",
  "docSlug": "0251599ad1c55bdea795a8e3eb636ab1",
  "documentTitle": "J.P.Morgan | Investment Banking Pitch Book | 21 slides",
  "authorId": "j-p-morgan",
  "authorName": "J.P. Morgan",
  "documentKindSlug": "consulting-deck",
  "documentKindLabel": "Consulting deck",
  "sourceTypeSlug": "investment_bank",
  "sourceTypeLabel": "Investment bank",
  "presentationDate": "2019-04-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.2964213,
  "pageNumber": 14,
  "pageCount": 21,
  "prevPage": 13,
  "nextPage": 15,
  "slideType": "financial_analysis",
  "function": "quantify_impact",
  "density": "dense",
  "nDataPoints": 45,
  "notes": "The slide uses a waterfall chart to bridge individual business unit values to a consolidated equity value.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de50f-5c3a-712d-b472-2be7d9f26c50/14",
  "deckHref": "/decks/019de50f-5c3a-712d-b472-2be7d9f26c50",
  "deckJsonHref": "/decks/019de50f-5c3a-712d-b472-2be7d9f26c50.json",
  "deckAnchorHref": "/decks/019de50f-5c3a-712d-b472-2be7d9f26c50#slide-14",
  "components": [
    {
      "bbox": {
        "h": 0.08,
        "w": 0.1,
        "x": 0.85,
        "y": 0.25
      },
      "kind": "callout",
      "text": "Implied price per share: ~$48.99",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c4f51bee-4153-41bc-95b1-e6391c24bcc6",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.35,
        "w": 0.9,
        "x": 0.05,
        "y": 0.2
      },
      "kind": "chart",
      "text": "Waterfall chart showing UGI Utilities, AmeriGas, UGI International, Midstream & Marketing, Firm value (pre-corporate), Capitalized corporate costs, Firm value (post-corporate), Consolidated net debt, Less: NCI, Consolidated equity value",
      "attrs": null,
      "subkind": "waterfall",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "dd8b343e-9841-493e-aad4-bcf962d2ed2f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.9,
        "x": 0.05,
        "y": 0.88
      },
      "kind": "disclaimer",
      "text": "Source: UGI projections as provided and approved by UGI management. Note: Projections based on 09/30 fiscal year end; FactSet as of 03/29/19; Assumes net debt of $4,369mm; Assumes ~178mm diluted shares outstanding based on treasury stock method.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "0ca2d7bd-3165-40af-bace-bb8746aa06dc",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.9,
        "x": 0.05,
        "y": 0.6
      },
      "kind": "table",
      "text": "Table showing 2019E metrics, multiple ranges, and firm value ranges for UGI business units.",
      "attrs": null,
      "subkind": "valuation",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "4303dde8-0503-48f9-8989-564402c5ea5d",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.7,
        "x": 0.05,
        "y": 0.1
      },
      "kind": "title",
      "text": "Illustrative 2019E sum-of-the-parts analysis for UGI – For reference only",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "22403ce3-a1ee-4186-9308-0e40a16b0c36",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Waterfall chart",
      "slug": "waterfall-chart",
      "agent": null,
      "layer": "slide",
      "matchId": "b663d4cb-9fad-48c8-a0c9-a9d44b758a07",
      "evidence": "Waterfall chart showing UGI Utilities, AmeriGas, UGI International, Midstream & Marketing, Firm value (pre-corporate), Capitalized corporate costs, Firm value (post-corporate), Consolidated net debt",
      "confidence": 0.9
    }
  ],
  "frameworks": [
    {
      "name": "waterfall-bridge",
      "slug": null,
      "matchId": "67f5ca52-7db2-44a9-a124-a30975bc8947",
      "evidence": "The slide uses a waterfall chart to bridge business unit values to consolidated equity value.",
      "confidence": 1
    }
  ],
  "arcBeats": [
    {
      "to": 17,
      "from": 11,
      "beatId": "3d48730e-b16f-4b37-846c-c4cb174d2729",
      "arcName": "The Consultant's Gambit",
      "arcSlug": "consultants-gambit",
      "beatName": "Solution & Approach",
      "beatSlug": "consultants-gambit-solution-approach",
      "evidence": "The deck presents a summary of preliminary analysis and illustrative value creation analysis",
      "position": 3,
      "confidence": 0.8,
      "parentBeatName": "Turn",
      "parentBeatSlug": "turn"
    }
  ],
  "loops": [
    {
      "to": 17,
      "from": 11,
      "name": "Cost Of Inaction",
      "slug": "27-cost-of-inaction",
      "bestFor": "Urgent budget requests, compliance, risk mitigation",
      "matchId": "d14ddc4e-53ae-4150-a50e-f1c5c6a5f028",
      "evidence": "The deck presents illustrative value creation analysis and cost synergies valuation",
      "position": 1,
      "objective": "To highlight the benefits of the proposed transaction",
      "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
}