Good morning, ladies and gentlemen, and welcome to the GDI Integrated Facility Services Fourth Quarter 2020 Results Conference Call. At this time, note that all lines are in a listen-only mode. But following the presentation, we will conduct a question-and-answer session. If at any time during this call you require immediate assistance, please press star zero for the operator. Also note that the call is being recorded on Wednesday, March 3rd, 2021. At this time, I would like to turn the conference over to Stéphane Lavigne, Senior VP and Chief Financial Officer. Please go ahead. Thank you, Bernadette. Good morning, everyone, and welcome to GDI's conference call to discuss our results for the fourth quarter and full year of fiscal 2020. [Foreign language]. My name is Stéphane Lavigne. I am Senior Vice President and Chief Financial Officer of GDI. I'm with Claude Bigras, President and CEO of GDI, and David Hinchey, Executive Vice President of Corporate Development. Before we begin, I would like to make you aware that this call contains forward-looking information and we ask listeners to refer to the full description of the forward-looking safe harbor that is fully described at the beginning in the MD&A file on SEDAR. I will begin the call with an overview of GDI's financial results for the fourth quarter and the 2020 fiscal year-end, and then I will invite Claude to provide his comments on the business. In the fourth quarter, GDI recorded revenue of CAD 264.7 million, an increase of CAD 20.5 million, or 6% over Q4 last year, including negative organic growth of 4.2% due to the full or partial closure of certain client facilities as a result of the COVID-19 pandemic. We recorded an adjusted EBITDA of CAD 32.2 million in the quarter, an increase of CAD 11.4 million, or 54.7% over Q4 of last year. Adjusted EBITDA was positively impacted by additional products and services delivered to existing and new clients, whose facilities remain open or partially open during the pandemic. For the full year of fiscal 2020, revenue increased by CAD 126.5 million, or 9.9%, reaching CAD 1.41 billion compared to CAD 1.29 billion last year. Organic growth was negative 2.8% due to the impact of the COVID-19, which was offset by revenue growth coming primarily from acquisitions. Adjusted EBITDA amounted to CAD 104.9 million, an increase of CAD 27.4 million, or 35.3% over the corresponding period of 2019. Now, moving to our business segments. The Janitorial Canada business recorded revenue of CAD 138 million in Q4, an increase of CAD 3.3 million, or 2.4% compared to the fourth quarter of 2019. The segment reported adjusted EBITDA of CAD 18 million compared to CAD 8.6 million in the fourth quarter of 2019, representing a margin of 13.1% compared to 6.1% last year. For the full year, this business segment recorded revenue of CAD 532.2 million, a decrease of 1.4%, while adjusted EBITDA increased by CAD 25.6 million, or 72.1%, reaching CAD 61 million in 2020. Our Janitorial US business recorded revenue of CAD 84.4 million in Q4, an increase of CAD 1.2 million, or 1.5% compared to Q4 of 2019. Adjusted EBITDA increased by 57.2% to CAD 9.1 million, or 10.8% of revenue, compared to CAD 5.8 million, or 7% of revenue in Q4 of 2019. For the year, the business recorded revenue and adjusted EBITDA of CAD 331.6 million and CAD 29.3 million, respectively, increases of 2.2% and 18.2% over 2019. During Q4, our technical service segment recorded revenue of CAD 125.7 million, an increase of CAD 16.1 million, or 14.7% over Q4 of 2019, with the full amount of revenue growth coming from acquisitions. Revenue decline on an organic basis was 17.8%, as the business expects a reduction in on-call services and projects due to the resurgence of the COVID-19 pandemic. Adjusted EBITDA was CAD 7 million in Q4, a decrease of CAD 1.4 million compared to last year. For the full year, the business recorded revenue of CAD 483.8 million, an increase of 29.1%, and Adjusted EBITDA of CAD 17 million, a decrease of 21.6% compared to 2019. Finally, our complementary service segments reported revenue of CAD 21.4 million in Q4, an increase of CAD 4.9 million, or 29.6% compared to Q4 of 2019. Adjusted EBITDA was CAD 1.6 million compared to CAD 0.9 million in the fourth quarter of 2019, an increase of 67.7%. For the year, the business performed well. Revenues were up by 15.4% at CAD 84.9 million, and Adjusted EBITDA by 106.3% at CAD 9.6 million. Now, I would like to turn the call to Claude, who will provide further comments on GDI performance during the quarter. Thank you, Stéphane. Good morning, and thank you for taking the time to participate in our earnings call. I am pleased with our team resilience and our overall performance in 2020. It seems like a lifetime ago when our messaging to investors during Q1 was of a future that was uncertain, that we were modifying our cost structure, mitigating business disruption, and implementing plans to preserve GDI's financial health. Today, as I speak with you to discuss our annual final results, I can only express again how proud I am of the entire GDI team. Our company is emerging from the COVID crisis in a strong financial state, and I will argue that we are also in a strong competitive position. As one of the largest and the leading facility service providers in North America, we took a leadership position in the industry in advising clients on the various processes and procedures to implement and the products to use to help keep their facility clean and mitigate the risk of virus spread. GDI team members were on the front line through 2020, fighting the virus, doing everything that could be done to provide our clients with the essential services they need to keep their facilities safe and virus-free. I am incredibly proud of their performance. On a financial basis, GDI performed very well considering these times. We achieved over CAD 1.4 billion of revenue, growth of almost 10% despite the headwinds from COVID in the form of facility closure and higher vacancy rates. GDI delivered CAD 105 million in adjusted EBITDA, which is a new high for our business, and the first time we have surpassed the CAD 100 million mark. And we reduced our total debt by CAD 11 million after having paid a pretty large amount in cash on the closing of ESC acquisition in January 2020. We were also able to retain most of our workforce in place and the totality of our management talent. Turning to our business units, our Canadian janitorial business unit performed very well during the year, delivering a 72% increase in adjusted EBITDA. While several janitorial service clients were operating facilities at a lower than normal capacity level, many clients required enhanced services and specialty services due to the pandemic, including, for example, higher frequency cleaning and disinfection services. Our janitorial US business also performed well during the year, delivering an 18% increase in Adjusted EBITDA despite a modest organic revenue decline compared to 2019. Several clients of our janitorial US business segment required additional services as well due to COVID-19. However, it was in a lesser degree than that we experienced on the Canadian side segment as a result of different end market mix. Ainsworth, our technical service business, has been GDI business that was the most impacted by COVID-19. At the height of the onset of the pandemic, when we experienced government-induced shutdowns of many sectors in the economy, Ainsworth service calls and project business slowed significantly. As regional economies progressively resumed activities, Ainsworth service call volume began to grow, and projects started to come back on stream. During this slowdown, however, bidding activity did not stop. Presently, we are sitting on a record backlog at Ainsworth, which is very promising for the future of the business, and we are optimistic in having the largest service-focused HVAC business in Canada, with our clients beginning to focus on the importance of air quality, air purification, as they are planning for the building to be reoccupied. I'm also very excited with our latest acquisition completed by Ainsworth. The BP Group is a well-established mechanical service company based in New York City and represents the first significant acquisition in the U.S. market for our technical service group. In the month and a half since the acquisition closed, I can tell you that we are incredibly happy with our new partnership, and there is a very strong cultural and business shift between Ainsworth, GDI, and BP. We feel that BP will serve as an optimal platform to build our U.S. Ainsworth business, and we are now open for new and large avenues to grow. Our complementary service business, which now consists of our product manufacturing and distribution business, had a very strong year. This business experienced a higher level of demand, mainly for personal protective equipment and cleaning and disinfecting products. From both GDI and its clients and third-party clients, the business delivered 20% of organic growth in the year. And more importantly, we were able to provide our clients with all critical products at the time of need. In terms of the outlook for our business as a whole, we expect that as long as the COVID-19 virus remained a risk to our society, our business will continue to support our clients, who look to GDI for expertise, enhanced support to keep their facilities safe, and this could endure for multiple years, as many experts are expecting COVID to evolve into a recurring seasonal event. By all means, the impacts are positive for GDI. Over the near term, given the progressive deployment of our various COVID vaccines and the upcoming warmer weather, we are expecting that the case count number will continue to reduce and facilities' occupancy level will begin to recover. While there has remained a lot of noise and uncertainty over office space requirement and vacancy rate in a post-pandemic world, we do not believe this will prove to be a headwind for our business. We have a client portfolio that is well-diversified by end markets. Our commercial office business is concentrated in the Class A building segment, where demand tends to be resilient, and the system and equipment and the buildings can need the same degree of maintenance and repairs, whether vacancy is 5% or 15%. I am more confident in GDI business prospects today than I was at the beginning of 2020 before we first started hearing on COVID in the world. Due to the global performance GDI has delivered since the beginning of the pandemic, our balance sheet is strong, our leverage ratios are at all-time low, and we are in a solid financial position. We continue to focus on our growth through acquisition strategy, and our financial strength should enable us to capitalize on strategic opportunities as they arise. It would look like I'm sorry. I would like to finish by thanking each one of our dedicated employees who worked tirelessly in the front line of this pandemic. Our clients were depending on us to keep them safe, and all of you have risen to the occasion. I'm extremely proud to see how our entire team has been stepping up to the challenge. That concludes my remark, and I will ask now the operator to open the line to analysts for questions. Thank you, Mr. Bigras. Ladies and gentlemen, if you do have any questions, please press slowly star followed by one on your touch-tone phone. You will then hear a three-tone prompt acknowledging your request. Should you decide you would like to withdraw your question, simply press star followed by two. And if you are using a speakerphone, we do ask that you please lift the handset before pressing any keys. Please go ahead and press star one now if you have a question. And your first question will be from Michael Doumet at Scotiabank. Please go ahead. Hey, good morning. Good morning. Thanks for the question. Hi. Maybe just to start us off on the Janitorial U.S., just wanted to ask what the drivers were for the improved organic growth there versus the last couple of quarters, as well as the sequential margin expansion, and whether you can speak to maybe the sustainability of that trend into 2021. You know what? I'm sorry, but this is one of the COVID problems is I did not hear you clearly on your question. Can I ask you just to. Yeah. Go ahead, sir. Yeah. Okay. Well, hopefully, you can hear me now. So the question was the janitorial U.S. Just wanted to get a little bit more color on the improved organic growth there versus the last couple of quarters, as well as the sequential margin improvement, and whether you can speak to the sustainability of that trend. Okay. Well, thank you very much, and I'm sorry again for making you repeating it. But listen, you know what? In the U.S., we have experienced, actually, I would say, a quicker reopening of the markets in many of the states we operate in. So you know what? The business mix and also the state of the reopening actually gave us a kind of, I would say, a flavor of what the aftermath could look as, you know what? We have a mix of operating clients with enhanced services requirements. So that covers a little bit for the margin expansion in Q4. But like I said again, you know what? A little bit less top line, but you know what? A sustainable margin. So, our prospect in the U.S. that, yes, it will continue as it probably would become the new normality going forward, where you have regular services with enhanced services. So this is what we figure, more or less. Okay. That's just interesting color. I guess the second question I had, and you partially answered it, was really on the margin differential in janitorial Canada and the U.S. since Q2. You talked about end market exposures being maybe the biggest difference. But I guess I want to take it a step further here based on your comments. Given that the U.S. has historically generated higher margins, how should we think about the margins in those two segments converging into 2021? Well, listen, you know what? It's always the same thing. We do not give specific guidance on margins. But I can tell you that in Canada, you know what? We have experienced a higher level of specialty work traditionally than the U.S. lately, but Q4 last year was extremely demanding on our specialty work requirements, both in Canada and the U.S. So again, we expect those margins to continue as the market level ups. But this is a, again, it's hard. You know what? There's still a lot of uncertainty going forward. So you have to bear with me that we are very prudent in our expectations. So we adjust as it goes. We have another resurgence, and the picture can change dramatically again. That makes a ton of sense. Okay. Look, great quarter. Thanks for the color. I'll get back in Q. Thank you very much. Thank you. Next question will be from Maggie MacDougall at Stifel GMP. Please go ahead. Good morning. Good morning, Maggie. Following up on Michael's question, wondering how all of these dynamics where you've got a new normal, I suppose, of regular cleaning plus specialized cleaning services, how that has impacted or shifted the competitive landscape. In other words, is this something that you're seeing benefiting you versus smaller competitors, or have the smaller competitors been able to offer the service levels that are now required in the COVID world? Listen, I think, like I was saying in my comments, that I think we are in a better overall competitive shape for several reasons. One of the reasons is we have a very strong market penetration. So when we're talking enhancing services, more clients you have, more enhanced services you deliver overall to start with. Secondly is customers, I think, and now, you know what? Again, I don't want to do forward-looking statements, but at the end of the day, as customers are getting into this new normality, they require more safety. They require more sustainability. You know what? The responsibility. Oop, there's a big noise in the telephone. Okay. So you know what? Customers will have to rely on very credible suppliers and very well-structured suppliers that would deliver the service. And I think this is also a big plus for us. As we have the infrastructure, we have the reporting systems in place, we have the process in place. So I think this would be all pluses going forward than just looking from a 3,000 feet high perspective on a supplier. Customer will have to go deep to make sure that their business partner is solid and very competent in delivering the cleaning solution or the HVAC solutions to their properties. Great. Thank you. Following up on that, I recall from last quarter some commentary that there were some RFPs and other new bid work that had essentially been postponed during the worst of the pandemic. Do you expect to see some of that come back around this year? And if so, what's your expectation in terms of cadence for those opportunities? That's true that during the pandemic period, because of many factors like work at home, facility not being accessible. So most clients that have an unusual four or five-year process into contract renewals or testing the market, if you allow me to say this like this, have postponed their RFPs. Now, you know what? As the buildings were reopened and everything, for sure, those clients, but mind you that the activity has restarted lately. So you know what? Clients are adjusting to the new reality. So they develop RFP process, which are a little bit different. But we have seen a certain restart on that front. Now, we have a very strong pipeline of customers that we feel they will go to the market. Our pipeline has been higher than usual. So that's a good sign that customers will go in the market. Secondly, on the technical side, as I was saying, we have an all-time high backlog. So yes, there was a stall in Q3, Q4. In Q4, we have seen a certain comeback, and our preliminary numbers indicate that we're going to be very busy for the next four to six quarters responding to requests. Thank you. Final question that I had relates to your technical services business and perhaps takes a bit of a different approach here. So you commented on clients inquiring about air purifying systems and that kind of thing heading into the spring season when more people will be out and about and hopefully getting back into more normal life. But I'm also curious, your technical services capabilities between ESC, BPAC, and Ainsworth in terms of improving the environmental standards of the buildings with regards to energy usage and a bunch of other factors, because as we're seeing that E part of ESG is increasingly important and highly valuable. And so I'm really interested in the role that GDI may play for your clients in that regard. Okay. Well, Maggie, you know what? Thank you very much. That's a very interesting question that, you know what? I would have to take two minutes to answer, I think, on this one. First of all, you are right. As Ainsworth through all our subs and our business partners, we are pretty well equipped to, sorry, for tomorrow's needs. Okay? I think tomorrow's needs will be more people have realized that they cannot only go on an eye-clean approach. They need to have, when I say clean, I don't want to go back to cleaning, but if you bear with me, is people are now aware more than ever that the danger is what they don't see and what they don't feel. So you know what? People will demand business owners, managers, workplace providers. They will require a certain level of safety into the delivery of the services and delivering air and comfort. And you know what? It's a service delivery. So you know what? Today, what's going to happen is we're going to have to modulate more customized solutions for occupants. So that's a better control system, a better building automation systems. So that's one thing. You know what? Also, the cost will more or less have a small increase for operators. You know what? You cannot win everything. So there will be a kind of a cost increase delivering those services. So customers' job as well is they will find ways to recuperate that supplementary cost. Thus comes a better energy management approach. They will try to recuperate those cost structures, but within sustainable savings. And we feel like a better energy management approach and technology approach to operating their building will actually benefit Ainsworth. Sorry, the answer was long, but I wanted to make sure that I was clear on the approach. That was really, really great. Thank you so much, and I'll get back in Q. Thank you very much. Thank you. Your next question will be from Jeff Fenwick at Cormark Securities. Please go ahead. Hi. Good morning. Good morning, sir. Good morning. One question I had was on your comment around we're in a bit of a new normal now. And after this amount of time, you must be having some of your client contracts come up for renewal. And I'm just wondering, when you're doing those renewals now, are customers in more of the enhanced services, a bit more of your consistent, almost recurring types of services? Meaning, are you going to lock in some of this business as something that sounds like could be a requirement for a very long time as part of the contracts? Well, listen, you know what? We're still early in the process. Like I was saying, RFPs more or less have been postponed on several occasions. But what we have seen, actually, Jeff, in the last quarter, now customers are issuing RFPs with specific service requirements for high-touch areas, food sanitation, sanitation and food areas. Even universities now, they have implemented a whole series of protocols in place that are now built into their RFP request. So we're starting to see that now it will become part of the new normality. For sure, you know what? Probably it will adjust over time. There will be different scenarios that will develop in front of us. But you know what? We're starting to see it actually in RFPs. Okay. That's helpful color. Thank you. And then I wanted to touch on the BP acquisition briefly as well. As you mentioned in your comments, it sounds like the United States is likely to be more quick to open up in the near term. What's the opportunity there to really ramp growth out of that platform? It sounds like they did well over the last year, some of the same challenges, obviously, that Ainsworth would have faced in Canada. But as you look to expand that business and expand the service offering as well, could that be something that maybe surprises us a little bit in terms of the growth that you get to drive out of it? Listen, I think the post-pandemic era will be to - I would say, if I was to tell you one of the differentiators we have from before to future, I think we'll invest more energy and resources into promoting the services. Because again, like I said, customers will really look into making sure that they have the absolute right and competent business partner in their facilities. So yes, I think we'll spend a little bit more in promotion. Now, this is one part of our growth strategy. The other part would be that I would say that - and I was the first, if you remember, the ones that you were with us last year - in March, it was not a funny time for a lot of people. So we developed a lot of concern, and I was not the only one. What I'm saying is I think that as the second generation janitorial contractors have seen the limit of the systems, I think that it will give us opportunities to develop our M&E activities over time in the sector as people would like to, I would say, share—not share, but at least diversify their risk. So I think this will give us some opportunities going forward. Great. Thanks so much. That's all I had. Thank you. Thank you. Next question will be from Frédéric Tremblay at Desjardins. Please go ahead. Good morning. Good morning, Frédéric. Good morning, Frédéric. First question on the janitorial services segment. Obviously, very strong growth still in that segment in the quarter. The margin was down sequentially from Q2 and Q3. I was just wondering if it's a reflection of maybe the product mix there or if there was a change in the competitive environment. If you could help us understand that. Well, you know what? I would say, yeah, there is a change in the competitive environment. Six months ago, you know what? Product manufacturing was almost like bootlegging. But now you can find sanitizers in every corner store. So yes, as the offer developed over time, for sure, it has normalized a little bit the business. But I'm very happy that we're still very busy. And I'm very happy that we were able in the roughest times to provide solutions to clients. Going forward, I think we will have enhanced capability. But I think that margin will be more into a normal bracket. Perfect. Thanks for that. And then on the BP Group acquisition, just wanted to get your thoughts on the impact of COVID on them versus what you saw in Ainsworth, Canada, for example. Have they been similarly impacted? Is there a mix between project and service call similar to your legacy technical services business? Maybe your thoughts on that and how they positioned as we're exiting COVID hopefully in the near future. Well, you know what? No, that's a fair question. You know what? Our analytics that we had throughout the fall, because for sure we were involved for a couple of months before we announced it. But our tracking shows that, you know what? There was a high degree of similarities between, I would say they were very correlated. You know what? We've seen the shutdowns in Q1, Q2, Q3, and a slow recovery in Q3. Now they're more or less at, you know what? I would say almost normal service level and projects. So yeah, the same thing as our Ainsworth business, more or less. Mind you, that Quebec and Ontario in Q2, which was a big challenge the technical business as the government really shut down the whole industry. Okay. And my last question, maybe staying with BP, can you talk about the overlap that BP has with your U.S. janitorial operations? And if you see any cross-selling opportunities there between BP and your janitorial operations? Okay. I would say twofold. First of all, through our previous acquisition and our ESC acquisition, in which we have operation in some states already through control and HVAC, so for us, it is the occasion to consolidate our brand and our service offering in one single mechanical entity, which is good for us. The second point is I think it will enable us to offer our traditional GDI clients a good opportunity to service them on other businesses. As now we have, in order for it to make sense, I have to tell you this. We work mainly with very large properties, with very, so you know what? We cannot improvise ourselves, so now the customer sees our depth and our expertise on the market. Now we have a fair chance of working for them, so it's a work in progress. We had to build this credibility. We had to build this infrastructure. So now for us, it was a big leap forward. So yes, I think it will enable us to enhance our offering to clients. And the third item, and I don't want to extend too much on it, but it's our first step into the New York market, which is by far one of the largest markets in the world. So we don't know how it's going to unfold, but it's all positive for us. Great. Thank you, Claude. Thank you. Next question will be from Zachary Evershed at National Bank Financial. Please go ahead. Good morning, sir. Good morning, Zach. So building on Fred's question on BP and your answer about the first step in the New York market with the balance sheet in great shape and, of course, the new technical services platform in the U.S., do you think it would be fair to assume we'll see an acceleration in the pace of M&A versus the last few years? Well, listen, David is going to have to move from part-time to full-time working. Then I'm joking. No, no. Listen, for sure. For sure, we have a better exposure overall. We have a higher, we have a stronger capacity. For sure, it will, you know what? We will work very hard, and it will have a positive impact on our M&A activities. It's for sure. But again, it's to find the right partner, the right price, with the right team and the right customer mix. The challenge is not to find opportunities. It's to find the right ones. That's the challenge. Great answer. Thank you. And then looking at the backlog for Ainsworth, what's the business mix like there? And is the project profitability profile similar to the segment's historical margins? So far, listen, again, I don't want to make forward-looking statements because I have got my two colleagues that look at me funny when I do that. But I would say that so far, you know what? We have not seen a big differentiation between pre- to post-COVID margin and projects and service calls. For sure, the only thing I would say, and we have to adjust on it, is for sure there are some requirements post-COVID that need to be covered, like personal protective equipment, distancing, access to elevators and to facilities. But you know what? We're coping with it. And so far, we have not seen a dramatic change in our margins because of those. We have adjusted according to it. Thank you. Really appreciate the answers. I'll turn it over. Thank you. Once again, as a reminder, ladies and gentlemen, if you do have a question, please press star followed by one on your touch-tone phone. And your next question will be from Scott Fromson at CIBC. Please go ahead. Good morning, sir. Good morning, gentlemen. [audio distortion]. I'm sorry, Scott. I didn't want to interrupt you. So I think it's the first time that we have the chance to exchange, right? Yes, it is. Thank you. Thank you, Claude. Just trying to beat a dead horse to further death on BP. Just trying to get a sense of what role the pandemic played in the deal. Did it play into the acquisition price and the timing? In other words, was this an opportunistic deal? Trying to get a sense of how savvy you guys are in your acquisition strategy. Okay. Well, listen, I will share with you my thoughts and for what it is, okay? And actually, a transaction needs to be fair for both parties, okay? So I think we did the fair transaction for either the sellers and us, considering, I think the, I would say the differentiator is that we got into this transaction with a certain level of uncertainty short term. So short term, you know what? Since there's volatility and the market can shut down again and everything, we have made the decision to see the longer-term approach to the business instead of the short term. Don't forget, you know what? The people that you work with, that you acquire, are people that work with you after. So you know what? For sure, there would be opportunistic transactions, but it would be based on other means. You know what? A company that has a certain incapacity, either financially or succession. But an example in this particular transaction is we paid a fair price, and we decided to overstep the risk of the short-term two, three quarters. But mind you, so far, we have no bad indication. But this is the game plan that we decided to take. We said we look at the post-COVID return, although there's a small risk in getting in. Does it make sense to you? Yeah, that makes sense. New York will bounce back for sure. Just maybe a quick follow-up. Did the owners bring forward their sale timing? I would imagine that you were in discussions with them from a long time before COVID hit. Did it spur them to speed up the sale process? Listen, yes, you're right. We did a lot of living room dating. But you know what? They're a fantastic business partner. So yes, we had engaged into discussions before COVID. And when COVID hit, for sure, it created a certain amount of disruption in our process. But we came back, you know what? As soon as we were able to resume our activities, we continued our transaction, which we closed in early January. Thanks. It's good you took it into a more suitable room. I'll leave it there. Thanks. Yes. Thank you. And at this time, we have no further questions. Please proceed. Okay, well, listen. I meant that I would just like to say thank you again. You know what? Again, I want to thank you, all our workforce and our partners in these uncertain times, challenging times. So far, people have all stepped up. Thank you very much for your support, and I look forward to talking to you in the next quarter. Thank you, Mr. Bigras. Ladies and gentlemen, this does indeed conclude your conference call for today. Once again, thank you for attending. And at this time, we do ask that you please disconnect your line.