@import url('https://fonts.googleapis.com/css2?family=DM+Sans:wght@400;450;500;600;650;700&family=Libre+Caslon+Display&display=swap');
:root{--ink:#12263c;--muted:#596a7b;--blue:#225da8;--line:#d8e0e9;--paper:#fff;--wash:#f3f6fa;--green:#16644f;--red:#a43e37;--lightblue:#edf3fb;font-family:'DM Sans',Arial,sans-serif;color:var(--ink);background:#f8fafc;font-synthesis:none}
*{box-sizing:border-box}body{margin:0}a{color:var(--blue);text-underline-offset:4px}button,input,select{font:inherit}button,a,input,select,summary{touch-action:manipulation}button{cursor:pointer}button:disabled{cursor:default;opacity:.6}button:focus-visible,a:focus-visible,input:focus-visible,select:focus-visible,summary:focus-visible{outline:3px solid #5996e5;outline-offset:3px}p{line-height:1.6}button,input,select{border-radius:5px}button{border:1px solid var(--line);background:#fff;color:var(--ink)}input,select{width:100%;border:1px solid #bac7d5;background:#fff;padding:10px 11px;color:var(--ink);min-height:43px}input[type=checkbox]{width:17px;height:17px;min-height:17px;accent-color:var(--blue)}input:invalid{border-color:var(--red)}[hidden]{display:none!important}.skip{position:absolute;top:-50px;background:white;padding:12px;z-index:10}.skip:focus{top:0}.site-header{height:84px;background:white;border-bottom:1px solid var(--line);padding:0 max(28px,calc((100vw - 1380px)/2));display:flex;justify-content:space-between;align-items:center}.brand{color:var(--ink);text-decoration:none;font-weight:700;font-size:20px}.brand span{font-size:13px;font-weight:450;padding-left:18px;margin-left:18px;border-left:1px solid var(--line);color:var(--muted)}.site-header nav{display:flex;gap:28px;font-size:14px}.site-header nav a{color:var(--muted);text-decoration:none}.site-header nav a:hover{color:var(--blue)}main{max-width:1436px;margin:auto;padding:42px 28px 0}.page-heading{display:flex;justify-content:space-between;gap:36px;padding-bottom:30px}.eyebrow,.panel-label{font-size:12px;letter-spacing:.13em;font-weight:700;color:var(--blue);margin:0 0 12px}h1{font-family:'Libre Caslon Display',Georgia,serif;font-size:clamp(36px,4vw,52px);font-weight:400;line-height:1.07;letter-spacing:-.025em;margin:0}.intro{font-size:16px;color:var(--muted);max-width:700px;margin:15px 0 0}.heading-note{min-width:242px;align-self:center;border-left:1px solid 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6px;color:var(--muted)}.case-caption{font-size:13px;display:block;color:var(--muted);margin-top:5px}.scenario{margin-left:auto;display:flex;background:#e9eef4;padding:3px;border-radius:6px}.scenario button{border:0;background:transparent;padding:8px 18px;font-size:14px;min-height:36px}.scenario button[aria-pressed=true]{background:white;box-shadow:0 1px 4px #17365515;color:var(--blue);font-weight:650}.text-button{background:transparent;border:0;text-decoration:underline;text-underline-offset:4px;font-size:13px;color:var(--muted)}.notice{font-size:12px;color:var(--muted);border-top:1px solid var(--line);padding:13px 0 22px;line-height:1.5}.analysis-layout{display:grid;grid-template-columns:282px minmax(0,1fr);gap:26px}.input-panel{background:#fff;border:1px solid var(--line);padding:24px;height:fit-content}.input-panel h2{font-size:19px;font-weight:600;line-height:1.3;margin:0}.input-panel>p{font-size:14px;color:var(--muted);margin:9px 0 20px}.input-panel label{font-size:13px;display:block;margin:16px 0}.input-panel input{margin-top:6px}.unit{float:right;color:var(--muted)}.check-label{display:flex!important;align-items:center;gap:8px;line-height:1.4}.check-label input{margin:0!important;flex-shrink:0}.small-link{font-size:13px}.input-note{font-size:12px!important;margin-bottom:0!important}.input-panel details{border-top:1px solid var(--line);margin-top:24px;padding-top:18px}.input-panel summary{font-size:13px;font-weight:600;cursor:pointer}h2,h3{letter-spacing:-.02em}h3{font-size:18px;margin:0 0 10px;font-weight:600}.results{min-width:0}.metrics{display:grid;grid-template-columns:repeat(4,minmax(0,1fr));background:var(--ink);color:white;margin-bottom:22px}.metric{padding:23px 22px;border-right:1px solid #ffffff24;min-width:0}.metric:last-child{border:0}.metric-label{font-size:12px;color:#bacde1;letter-spacing:.025em}.metric-value{font-size:31px;letter-spacing:-.035em;margin:7px 0 5px;white-space:nowrap;font-variant-numeric:tabular-nums}.metric-note{font-size:12px;color:#bacde1;line-height:1.45}.decision{padding:18px 22px;background:#fff;border:1px solid var(--line);border-left:3px solid #be8b47;margin-bottom:22px}.decision h3{font-size:16px;margin-bottom:5px}.decision p{font-size:14px;margin:0;color:var(--muted)}.panel{background:white;border:1px solid var(--line);padding:24px;margin-bottom:22px;min-width:0}.panel-head{display:flex;justify-content:space-between;align-items:baseline;gap:12px;margin-bottom:12px}.panel-head h3{margin:0}.panel-head span,.panel-caption{font-size:12px;color:var(--muted)}.panel>p{font-size:14px;color:var(--muted);margin-top:0}.two-col{display:grid;grid-template-columns:1fr 1fr;gap:22px}.two-col .panel{margin-bottom:22px}.two-col 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i{display:inline-block;height:3px;width:17px;vertical-align:middle;margin-right:6px;background:var(--blue)}.legend i.green{background:var(--green)}.heatmap td{font-weight:600;text-align:center;border:3px solid white;padding:13px 8px}.heatmap th{border:0;text-align:center}.heatmap th:first-child{text-align:left}.heatmap .current{outline:2px solid var(--blue);outline-offset:-2px}.checks{display:flex;gap:20px;flex-wrap:wrap;font-size:12px;color:var(--muted);padding:3px 0 20px}.checks strong{color:var(--ink);font-weight:500}.section-intro{display:flex;justify-content:space-between;gap:28px;align-items:center;margin:5px 0 25px}.section-intro h2{font-size:28px;font-weight:500;margin:0 0 7px}.section-intro p:not(.eyebrow){font-size:15px;color:var(--muted);margin:0;max-width:780px}.button{background:var(--ink);color:white;text-decoration:none;padding:12px 17px;border:1px solid var(--ink);font-size:13px;font-weight:600;display:inline-flex;align-items:center;justify-content:center;min-height:44px;white-space:nowrap}.button.secondary{background:white;color:var(--ink);border-color:var(--line)}.actions{display:flex;gap:10px}.initiative-grid{display:grid;grid-template-columns:repeat(3,minmax(0,1fr));gap:22px;margin-bottom:24px}.initiative{border:1px solid var(--line);background:white;padding:25px}.initiative-top{display:flex;justify-content:space-between;align-items:center;margin-bottom:15px;font-size:12px;color:var(--blue);letter-spacing:.06em}.initiative-top label{font-size:12px!important;letter-spacing:0;color:var(--muted);margin:0!important}.initiative h3{font-size:22px}.initiative p{font-size:14px;color:var(--muted);margin-bottom:20px;min-height:45px}.initiative label,.filter-bar label,.valuation-controls label{display:block;font-size:13px;font-weight:500}.initiative input,.filter-bar input,.filter-bar select,.valuation-controls input,.valuation-controls 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small{display:block;font-size:12px;color:var(--muted);font-weight:400;margin-top:4px}.screen-table tr.selected{background:var(--lightblue)}.source-link{font-size:12px}.screen-summary{display:flex;gap:18px;font-size:13px;margin-bottom:16px;color:var(--muted)}.detail-grid{display:grid;grid-template-columns:1fr 1fr;gap:30px}.detail-grid p{font-size:14px;color:var(--muted)}.valuation-controls{display:grid;grid-template-columns:2fr 1fr 1fr;gap:20px;max-width:700px}.valuation-result{margin-top:20px;display:flex;gap:42px;font-variant-numeric:tabular-nums}.valuation-result strong{font-size:27px;font-weight:500}.valuation-result span{display:block;font-size:13px;margin-top:5px;color:var(--muted)}.empty{padding:35px;text-align:center;color:var(--muted)}.memo{max-width:980px;margin:0 auto 24px;padding:44px 52px;background:white;border:1px solid var(--line)}.memo-meta{display:flex;justify-content:space-between;font-size:12px;color:var(--muted);border-bottom:1px solid var(--line);padding-bottom:20px;margin-bottom:24px}.memo h2{font-family:'Libre Caslon Display',Georgia,serif;font-size:40px;font-weight:400;margin:8px 0 14px;line-height:1.1}.memo h3{font-size:19px;margin-top:27px}.memo p,.memo li{font-size:15px;line-height:1.7}.memo li{margin-bottom:8px}.memo .conclusion{border-left:3px solid var(--blue);padding-left:20px;margin:24px 0}.memo .conclusion strong{font-size:17px}.methodology-grid{display:grid;grid-template-columns:1fr 1fr;gap:28px}.methodology-grid p,.methodology-grid li{font-size:14px;line-height:1.6;color:var(--muted)}.methodology-grid ol{padding-left:20px}.footer{border-top:1px solid var(--line);display:flex;justify-content:space-between;gap:25px;padding:28px 0 38px;margin-top:25px;color:var(--muted);font-size:12px}#error{border:1px solid #cf817a;background:#fff0ee;color:#872820;padding:18px;margin-bottom:22px}.invalid-model .results,.invalid-model #operations-results,.invalid-model #memo{opacity:.25;pointer-events:none}.note-list{padding-left:18px;color:var(--muted);font-size:13px;line-height:1.6}.model-info{font-size:12px;color:var(--muted);margin-top:14px}.credit-status{font-size:13px;padding:11px 13px;background:var(--wash);margin:16px 0 0}.scenario-caption{font-size:13px;color:var(--muted);margin:0 0 18px}.bar-grid{display:grid;gap:12px}.bar-row{display:grid;grid-template-columns:110px 1fr 75px;gap:12px;align-items:center;font-size:13px}.bar-track{height:17px;background:#eef2f7}.bar-fill{height:100%;background:var(--blue)}.bar-row span:last-child{text-align:right;font-variant-numeric:tabular-nums}
@media(max-width:1120px){.metrics{grid-template-columns:repeat(2,minmax(0,1fr))}.metric:nth-child(2){border-right:0}.metric:nth-child(-n+2){border-bottom:1px solid #ffffff24}.two-col{grid-template-columns:1fr}.project-tabs{gap:23px}.project-tabs a{font-size:14px}.filter-bar{grid-template-columns:repeat(3,1fr)}.heading-note{min-width:225px}.initiative-grid{gap:15px}.initiative{padding:20px}.initiative-top{display:block}.initiative-top label{margin-top:10px!important}}
@media(max-width:820px){main{padding:27px 20px 0}.site-header{height:73px;padding:0 20px}.brand span{display:none}.site-header nav{gap:17px}.page-heading{display:block}.heading-note{border:0;padding:0;margin-top:25px;display:block}.heading-note>span{display:none}.heading-note strong{display:none}.heading-note a{display:inline-block}.heading-note small{display:inline-block;margin-left:12px}.project-tabs{gap:22px}.project-tabs a:last-child{margin-left:0}.case-bar{flex-wrap:wrap;gap:15px}.scenario{margin-left:0}.text-button{margin-left:auto}.analysis-layout{grid-template-columns:1fr}.input-panel{display:grid;grid-template-columns:1fr 1fr;column-gap:20px;padding:20px}.input-panel>h2,.input-panel>p,.input-panel>.panel-label,.input-panel>details{grid-column:1/-1}.input-panel>p{margin-bottom:5px}.input-panel label{margin:9px 0}.input-panel .small-link{align-self:center}.input-panel details{margin-top:16px}.input-panel details label{margin:14px 0}.input-panel>p.input-note{margin-top:17px!important}.initiative-grid{grid-template-columns:1fr}.initiative-top{display:flex}.initiative-top label{margin:0!important}.initiative p{min-height:0}.initiative label{max-width:400px}.section-intro{display:block}.section-intro>.button,.section-intro>.actions{margin-top:18px}.filter-bar{grid-template-columns:1fr 1fr}.filter-bar label:first-child{grid-column:1/-1}.timeline{grid-template-columns:1fr}.methodology-grid,.detail-grid{grid-template-columns:1fr}.memo{padding:30px 24px}.memo-meta{gap:20px}.footer{flex-direction:column;gap:12px}.valuation-result{gap:28px}}
@media(max-width:480px){.site-header nav{font-size:13px;gap:13px}.site-header nav a:nth-child(2){display:none}.brand{font-size:18px}main{padding-left:16px;padding-right:16px}.metrics .metric{padding:20px 15px}.metric-value{font-size:28px}.panel{padding:20px 16px}.scenario button{padding:8px 13px}.case-caption{font-size:12px}.notice{padding-bottom:18px}.valuation-controls{grid-template-columns:1fr 1fr}.valuation-controls label:first-child{grid-column:1/-1}.valuation-result{display:block}.valuation-result>div{margin-top:17px}.actions{flex-wrap:wrap}.memo-meta{flex-direction:column;gap:8px}.memo h2{font-size:34px}}
@media print{body{background:white}.site-header,.page-heading,.project-tabs,.case-bar,.notice,.section-intro,.footer,#methodology,.view:not(#research){display:none!important}#research{display:block!important}main{padding:0;max-width:none}.memo{padding:0;border:0;max-width:none}.memo h3{break-after:avoid}.memo p,.memo li{orphans:3;widows:3}a{color:inherit}.memo table{font-size:11px}@page{margin:18mm}}

.chart-box{overflow-x:auto}.chart-box .chart{min-width:580px}

/* Interactive workspace */
.lab-heading{background:#10243a;color:#fff;padding:38px 42px;margin:0 0 14px;position:relative;overflow:hidden;align-items:center;border-radius:8px;gap:45px}
.lab-heading:after{content:'';position:absolute;right:-65px;top:-120px;width:440px;height:440px;border:1px solid #ffffff0c;border-radius:50%;pointer-events:none}
.lab-heading h1{font-size:clamp(38px,4.2vw,58px);line-height:1.06;letter-spacing:-.035em}
.lab-heading .eyebrow{color:#9ebfe1;font-size:10px;letter-spacing:.14em}
.lab-heading .intro{color:#c0cfdf;max-width:620px;font-size:15px;line-height:1.65}
.hero-tags{display:flex;gap:18px;flex-wrap:wrap;color:#a9bfd4;font-size:11px;margin-top:22px}
.hero-tags span+span:before{content:'·';margin-right:18px}
.lab-hero-aside{width:280px;flex-shrink:0;position:relative;z-index:1;border-left:1px solid #ffffff26;padding-left:32px}
.live-badge{display:inline-flex;gap:7px;align-items:center;text-transform:uppercase;font-size:10px;letter-spacing:.08em;color:#b5d5f2;margin-bottom:19px}
.live-badge i{width:6px;height:6px;background:#7dc7af;border-radius:50%;box-shadow:0 0 0 4px #7dc7af15}
.lab-hero-aside>strong{font-weight:500;line-height:1.3;font-size:20px;letter-spacing:-.02em;display:block}
.lab-hero-aside p{font-size:12px;color:#b2c4d6;line-height:1.7;margin:13px 0 20px}
.hero-source{font-size:10px;color:#9eb4c9;line-height:1.4;display:block}
.project-tabs{position:sticky;top:0;background:#f8fafcf5;backdrop-filter:blur(12px);z-index:10}
.workspace-toolbar{display:flex;align-items:center;justify-content:space-between;gap:20px;padding:0 0 15px}
.workspace-toolbar>div{display:flex;gap:9px}.workspace-toolbar>span{font-size:11px;color:var(--muted)}
.toolbar-button{padding:9px 12px;background:white;border:1px solid var(--line);color:var(--ink);font-size:12px;min-height:38px;white-space:nowrap}
.toolbar-button:hover{background:var(--lightblue);border-color:#a6bcd4}
.quick-cases{display:grid;grid-template-columns:auto repeat(3,minmax(0,1fr));gap:10px;align-items:stretch;margin:0 0 22px}
.quick-cases>span{align-self:center;max-width:108px;font-size:10px;font-weight:650;letter-spacing:.09em;line-height:1.6;color:var(--muted);padding-right:15px}
.quick-cases button{text-align:left;padding:13px 15px;font-size:12px;line-height:1.4;background:#edf3f9;border-color:#d9e4ef;transition:background .15s}
.quick-cases button:hover{background:#e1ecf7}.quick-cases b{display:block;font-size:11px;color:var(--blue);margin-top:5px;font-weight:550}
.input-panel{border-radius:6px}.input-panel input[type=number]{font-variant-numeric:tabular-nums;background:#f8fafc;font-weight:550}
.input-panel input[type=range]{padding:0;margin:11px 0 0;height:5px;min-height:5px;border:0;border-radius:3px;cursor:pointer;appearance:none;background:linear-gradient(to right,#356d9f 0 var(--slider-progress,35%),#e0e7ef var(--slider-progress,35%) 100%)}
.input-panel input[type=range]::-webkit-slider-thumb{appearance:none;width:15px;height:15px;border-radius:50%;background:#fff;border:2px solid #356d9f;box-shadow:0 1px 4px #10243a20}
.input-panel input[type=range]::-moz-range-thumb{width:12px;height:12px;border-radius:50%;background:#fff;border:2px solid #356d9f}
.metrics{border-radius:6px}.panel{border-radius:6px}.decision{display:flex;align-items:center;gap:22px;justify-content:space-between;border-radius:5px}
.decision-action{flex-shrink:0;background:#edf3fb;border:1px solid #c2d4e7;padding:12px 15px;font-size:13px;color:var(--blue);font-weight:600;text-align:left}
.decision-action span{display:block;font-size:10px;color:var(--muted);margin-top:5px;font-weight:450}.decision-action:hover{background:#dfeafa}
.heatmap td{padding:0}.heat-cell{display:block;width:100%;height:44px;border:0;border-radius:0;background:transparent;font-size:12px;font-variant-numeric:tabular-nums;color:var(--ink);font-weight:600}
.heat-cell:hover{box-shadow:inset 0 0 0 2px #356d9f;background:#ffffff40}.heat-cell:focus-visible{outline-offset:-3px}.heat-cell:disabled{opacity:.6}
.share-panel{padding:18px;background:#edf3fb;border:1px solid #b8cee6;border-radius:6px;display:grid;grid-template-columns:auto minmax(0,1fr) auto;gap:12px;align-items:center;margin:0 0 16px}
.share-panel label{font-size:12px}.share-panel input{font-size:12px}.share-panel p{font-size:11px;margin:0;grid-column:2/-1;color:var(--muted)}
.toast{position:fixed;bottom:25px;left:50%;transform:translateX(-50%);z-index:50;background:#12263c;color:white;border:1px solid #496781;border-radius:6px;box-shadow:0 8px 30px #0b1c3430;font-size:13px;line-height:1.5;padding:14px 20px;max-width:calc(100vw - 32px);width:max-content}
.comparison{border:1px solid #ccd9e7;padding:21px;background:#eff4f9;border-radius:7px;margin-bottom:20px}
.comparison-heading{display:flex;justify-content:space-between;align-items:center;gap:18px;margin-bottom:15px}.comparison-heading .eyebrow{font-size:9px}.comparison-heading h2{font-size:18px;margin:5px 0 0;font-weight:550}.comparison-heading>span{font-size:11px;color:var(--muted)}
.comparison-grid{display:grid;grid-template-columns:repeat(3,minmax(0,1fr));gap:13px}.comparison-card{background:#fff;border:1px solid var(--line);border-radius:5px;padding:16px;min-width:0}
.comparison-card-top{display:flex;justify-content:space-between;gap:10px;align-items:flex-start}.comparison-card-top>strong{font-size:11px;font-weight:500;line-height:1.6;color:var(--muted)}.comparison-card-top button{border:0;padding:0 4px;font-size:20px;color:var(--muted);line-height:1}
.comparison-returns{display:flex;justify-content:space-between;gap:12px;margin:17px 0}.comparison-returns strong{display:block;font-size:20px;font-weight:550;letter-spacing:-.04em}.comparison-returns span{display:block;font-size:10px;color:var(--muted);margin-top:4px}
.comparison-card-bottom{display:flex;justify-content:space-between;align-items:center;font-size:10px;color:var(--muted);border-top:1px solid #e5ecf2;padding-top:12px;gap:10px}.comparison-card-bottom button{border:0;background:none;padding:0;font-size:11px;font-weight:600;color:var(--blue)}
@media(min-width:1100px){.input-panel{position:sticky;top:80px;max-height:calc(100vh - 110px);overflow-y:auto}.panel-head h3{font-size:17px}.two-col{grid-template-columns:1fr}}
@media(min-width:1360px){.two-col{grid-template-columns:1fr 1fr}.decision>div{max-width:650px}}
@media(max-width:1100px){.lab-heading{padding:30px}.lab-hero-aside{width:235px;padding-left:25px}.comparison-grid{grid-template-columns:1fr}.comparison-returns{justify-content:flex-start;gap:40px}.decision{display:block}.decision-action{margin-top:15px}.quick-cases{grid-template-columns:repeat(3,1fr)}.quick-cases>span{grid-column:1/-1;max-width:none}}
@media(max-width:820px){.lab-heading{display:block;padding:29px 25px}.lab-hero-aside{display:none}.workspace-toolbar>span{display:none}.hero-tags{gap:12px}.hero-tags span+span:before{margin-right:12px}.project-tabs{margin-left:-20px;margin-right:-20px;padding-left:20px;padding-right:20px}.quick-cases button{font-size:11px}.quick-cases b{font-size:10px}.input-panel{position:static;max-height:none}.share-panel{grid-template-columns:1fr auto}.share-panel label{grid-column:1/-1}.share-panel p{grid-column:1/-1}}
@media(max-width:480px){.lab-heading{padding:26px 22px}.lab-heading h1{font-size:38px}.lab-heading .intro{font-size:13px}.hero-tags{display:none}.workspace-toolbar>div{width:100%}.toolbar-button{font-size:11px;padding:9px 10px;flex:1}.quick-cases{grid-template-columns:1fr}.quick-cases button{display:flex;justify-content:space-between;align-items:center;gap:10px;font-size:11px}.quick-cases b{margin:0;font-size:10px}.project-tabs{margin-left:-16px;margin-right:-16px;padding-left:16px;padding-right:16px}.comparison-heading{display:block}.comparison-heading>span{display:block;margin-top:8px}.comparison-returns{gap:25px}.comparison-returns strong{font-size:18px}.comparison{padding:15px}}
@media(prefers-reduced-motion:reduce){*,*:before,*:after{scroll-behavior:auto!important;transition:none!important}}
@media print{.workspace-toolbar,.quick-cases,.share-panel,.comparison,.toast{display:none!important}}