{
  "operating": {
    "revenue": {
      "model": "arr",
      "revenue_recognition": "avg_arr"
    },
    "working_capital": {
      "model": "days",
      "ar_days": 50,
      "ap_days": 30,
      "include_inventory": false
    },
    "da": {"model": "pct_revenue", "pct": 0.025},
    "capex": {"model": "pct_revenue", "pct": 0.025}
  }
}