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  "documentTitle": "Commercial Metals Company | Investor Presentation Deck | 31 slides",
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      "text": "OVER THE CYCLE, CMC SEEKS TO: Achieve through-the-cycle ROIC above 10%; Keep leverage at approximately 2x through-the-cycle Adjusted EBITDA, while flexing to ~3x for compelling acquisitions. IN ADDITION, CMC SEEKS TO: Opportunistically return capital",
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      "text": "(1) ROIC – Return on invested capital is defined as: 1) after-tax operating profit divided by 2) the average total assets less cash & cash equivalents less non-interest-bearing liabilities for the trailing five quarters",
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