All right. Good morning, everyone. For those that don't know me, I'm Andrew Percoco. I cover autos here at Morgan Stanley. Pleased to be joined by Paul Jacobson, CFO of General Motors, for the next session. Before we get started, just a quick disclosure here. For important disclosures, please see the Morgan Stanley Research Disclosure website at www.morganstanley.com/researchdisclosures. If you have any questions, please reach out to your Morgan Stanley representative. All right. With that out of the way, Paul, I just want to pass it to you. If you got any opening remarks for the audience in terms of the setup for the remainder of the year and kind of how you see the business evolving over time. Yeah, great. Thanks, Andrew. Thanks for having us. Thanks to everybody for being here today and for those joining the webcast. This year's been a pretty interesting one as we started. I think I said in January or February that the year had gotten off to a pretty calm start, then suddenly Iran happened and it's been a lot of uncertainty. But the team continues to navigate really well. I think the story of the year has to be the consumer, has been remarkably resilient in the auto space, and we've seen that over the last couple of months of industry demand. Probably been a little bit stronger than we even thought, coming into the third quarter. But the business held up well. I think we are doing quite well on production. Remember, as we think about where SAAR is and so on, remember we're a wholesale business, so we don't necessarily get affected by the day-to-day. It helps with the inventory and management. But what we're really looking for is to really chart that course and as we sunset the pickups and go into the next generation of pickup trucks next year, I'm pretty optimistic about where things are going. That's great. Maybe just picking up there, you mentioned the third quarter's been stronger than you expected. SAAR has held up better. What does that mean? I think initially you were expecting 3Q to look similar to 2Q. Has that changed at all versus your expectations? Just curious how the quarter is shaping up. As we think about going to the fourth quarter with the changeover happening- I think you had communicated a heavier seasonal weakness in the fourth quarter than normal. Has that changed at all, just given the resiliency that we've seen in the consumer, or is all that still your expectation there? No, the quarter's tracking pretty consistently with where we thought. As you see little upticks in demand, keep in mind that we're max production pretty much everywhere across the system. So when we're wholesaling vehicles, that's really the driver. So inventory might go up and down, but what that strong demand allows us to do is maintain consistency in pricing and incentive levels and making sure that we're continuing with our inventory discipline that we've seen so things don't get out of balance. I think the team has executed well. As we look at the fourth quarter, fourth quarter's typically seasonally weaker than Q2 and Q3. This year it's compounded by the fact that, as we disclosed on our last call, we'll lose about 35,000 trucks with the changeover. Ultimately, a long-term good thing, but we'll have that little headwind. I would just say seasonality less that 35,000 units is about the right way to think about Q4. Okay, that's super helpful. Obviously it's 2026, you guys have navigated it tremendously well, I think better than anyone was expecting sitting here last year. So kudos to you for the execution. Now, of course, the natural evolution of that conversation is what does 2027 look like and how does the consumer break? What does this kind of look like as we walk into next year? On the last call, you committed to, or at least tentatively are guiding towards growth in revenue, EBIT, and free cash flow next year. Just hoping you can just break that down for us in terms of what are the biggest puts and takes, positives and negatives that you're expecting as we roll forward into 2027. Yeah. Appreciate the comments about 2026 being better than a lot of folks expected, but 2025 was better than people expected, 2024 was better than people expected, and it's something that we've tried to take a lot of pride in, and really execute towards. As we're looking at 2027's going to have its own headwinds, right? We still have some tariff uncertainty out there, as deals are continuing to be negotiated and continuing to evolve. We continue to see signs of inflation out there, whether it's DRAM or just general other commodities, fuel prices, et cetera. They haven't come down the way that a lot of people were expecting post conflict. The conflict continues to rage, and we continue to see price inflation, particularly around logistics and so on. That's not to say that we've come off of what we said in 2Q, because I think when you look at 2027, for us, it's a lot of things that are in our control. We have the new truck platform, that should be good for pricing. As you roll off the last year of the trucks, there probably, I would argue, never been a more successful final year of a truck generation than what we're seeing in our portfolio right now. That means there is pricing potential. It's not that giant steep ramp-up that we've seen historically because of the performance of the outgoing truck. We've got to execute on that. We've got a number of sort of capacity initiatives with Orion coming up to speed and some of the onshoring that we've done. There's a lot of opportunity there, as we see that. There's opportunities in the portfolio, particularly around continuing to narrow EV losses, continuing to improve on warranty. Then lastly, growing digital revenue, a little bit of growth in the defense business, et cetera. You look at all those controllables, and that's where we felt good going into 2027. As we round out our budget preparation and get into the beginning of next year, we'll have more color on the specific ins and outs, but we feel pretty good about that. The cash flow story, I think you look at how consistent we've been over the last five years, and we've got a chart out on our IR website that looks at the last 10 years of free cash flow, and it's a tale of two half decades. The 10 years ago, we were looking at an average of probably about $3 billion a year of free cash flow. In the last five, we've averaged more than 10. This year, it's been a little bit about using that free cash flow to right size and fix some of the EV production challenges and capacity as we rationalize some of that capacity. Next year, we should be largely free of that. We think it's a really good cash flow story heading into 2027 as well. That's great. I want to double-click on a few things that you mentioned right there. First, starting with the truck changeover. You guys have managed that quite well. We haven't seen inventory ballooning, incentives. So far. So far, so good. It's been very impressive. It's not normal to see that at the end of a life of a model year or program. As you think about 2027, I think the focus for us or the market is less about the success of your platform, but more around what your competitors are doing. You have two large competitors in the truck market. One is adding a lot of incremental capacity, the other has been vocal about wanting to regain share in the U.S., and we'll see what their strategy is to do that. How do you think about how you internalize that and set the strategy of the company to make sure you're not chasing a market share number or really just executing and making sure you're remaining disciplined on pricing and incentives? How do you balance that within the organization, just given some of these external factors at play? Yeah. So look, I think there's a lot to unpack in that. If you look at the success over the last five years, I would say that it really is putting the customer front and center, and how do you deliver value to them with your products. What we've found is a pricing and a content strategy that is really aimed at furthering and advancing that loyalty that we have in the portfolio. Because we go into the new truck with a really strong, loyal customer base. They're that way. They've stuck through it with us, even through some of the challenges with the L87 and so on, that when you put customers at the front and center, everything else becomes noise somewhat. I think what the team's done a really good job of is not focus on selling that next marginal unit. Right? Let's focus on really driving long-term brand value and brand equity in the portfolio. That you can operate more consistently while the competitors around you do their thing. What I would say is it's mostly focused on ourself, our strategy. We started it post-COVID with inventory discipline, making sure we're managing production to where demand is. I remember, I think it was in 2022, we shut down Fort Wayne for a week because our inventories were growing. You would've thought that there was chaos in the market in terms of the way the market responded to it. But we did exactly what we said we were going to do, which is produce to that demand, maintain our disciplined production. I think that was really the beginning of making sure that we're saying, "Let's be rational." So when we see SAR tick up a little bit, when we see monthly share numbers kind of trickle up and down because of what a competitor is doing, I wouldn't say we're not aware of it. We're very aware. We're not hyper-focused on it to the point that says, "Okay, well, we've got to go discount everything to sell 2,000 more units." It's not good for the enterprise. It's not good for the equity and the residual value of the vehicles which you've sold. So really focusing on that long-term customer value proposition is what's navigated us. Like I said, the last year of this truck generation is doing better than any truck we have ever done. That demand has held up, even as people are starting to see more and more of what is coming with the new one. We are excited about what that new one can bring, and the long stream of consistent results that we can be known for into the future. That is great. The other piece is warranty has been a big tailwind for you guys in 2026. Can you just give us a few examples in terms of what you are focused on or maybe what you have changed as you think about the model year changeover to make sure that the warranty execution on that new vehicle is better than what it has been historically, to make sure that you can continue this tailwind of warranty versus it shifting to a headwind at any point in the next few years? What are some examples that you guys have implemented internally to make sure that goes better? Yeah. I would say this has been a throw everything at it, because candidly, our quality is not where we want it to be, not where it is known for, and it has been in some areas of the vehicle that we have notoriously been very well known for. I would say it really runs the gamut. Number one, it is looking at how to deploy technology into predictive analytics on the vehicle performance and the testing, et cetera, and try to get ahead of where we see those things. That has started to bear some early fruit, and we are excited about that. Now, ideally, what you have got to do is you have got to get that technology platform integrated through the supply chain. Because I would say that the second area is the supply chain. I do not know if it is macro based because of what we have seen down in tier two, tier three, tier four local businesses that have experienced a lot of inflation in their wage rates, a lot of turnover that historically they have not had, and I think we are not seeing the level of consistent quality out of that tiered supply base that we are used to as they see higher turnover. Because obviously you do not have as much expertise in doing those things and seeing problems, et cetera. So, we have deployed people through the supply chain, but really trying to help them, and figure out where we can stop production problems before they really manifest and catch them early. That is one of the things that I think really failed and broke down in the L87 from the supply chain perspective. The third element is work with our dealers and work with our engineers to minimize repairs. Don't replace transmissions if you can replace components. Don't replace engines and powertrains if you can replace components. That's worked pretty well. It's brought the cost down. What we've talked about is the monthly spend rates have to plateau, then they have to start to come down before you can come over the top on the liability. We're starting to see some of that, and that was the $1 billion to $1.5 billion, but we think that this can be a multi-year journey going forward. As far as the new trucks go, I think we've got a new powertrain, with the Gen 6. We've got over 1.5 million miles on the road testing that. We've been very thorough across the board, and we're optimistic. Changeovers are hard, but the team is really focused on making sure that we do right by the customer, and make sure that these trucks go off successfully. Yeah, that's great. The other side of the powertrain is EVs. That's been a benefit for you this year. You've made a lot of progress over the last 12 to 18 months in taking capacity out of the system. You've also been benefited by, volumes have come down dramatically year-over-year, so there's been a positive mix benefit there as well. As we think about 2027, it feels like we're maybe bottoming potentially on demand and maybe see some volume growth into 2027. How should we think about that from a contribution margin standpoint? If we get to a point where you are starting to see growth again in the EV portfolio, is that still a good guy on a year-over-year basis for you on EV losses, or how should we think about that dynamic into 2027 if we are in a scenario where you get some modest volume growth, in the EV portfolio? Yeah. Keep in mind, EV profitability has been hit really hard over the last couple of years. First, tariffs. Second, everybody was logging EV credits as part of the variable profits equation in EVs. Both of those went the wrong direction against profitability. The variable profitability of EVs took a couple of big hits with that. The first thing we had to do is rationalize capacity. We have done that. The second thing we are doing, and we have talked about how we are still investing in EVs, but it is not about expanding the portfolio per se. It is really about going after the architecture, going after the makeup, going after the battery cell technology, to bring down the cost of EVs. The first big step of that will be in 2028, when we start to produce the LMR technology, which is premium and power load at the same cost as LFP. That will be a stark improvement, thousands of dollars per vehicle at the pack level, for new EVs as we start to roll those out. So 2027, I think, is going to be a little bit of a sort of flat spot in the EV journey. Depending on how much volume we pick up, we might get some scale benefits, et cetera. But really looking to 2028 to start that step function improvement again, and getting there. We still believe EVs are a long-term play for us, and we have got to get it right. We have got to get them profitable, and I think with the investments that we are making, we are continuing on that journey more than many of our competitors are. Yeah. On that being, I think Mary said North Star is kind of the EVs for you guys long term. You always get asked about hybrids, so I am not going to ask about hybrids, but EREVs, like an extended range electric vehicle, what is your perspective on that? Some of your competitors are now bringing those to market. It does seem to solve some of the range concerns that those customers might have, some of the towing concerns that they might have. Is it a technology you have looked at? What should we maybe expect from GM from that perspective, especially in the truck and the SUV market, which is where the profit pool is today. How do you think about that option for that part of the market? Yeah. I think we have been leaders in the range space, in trying to do this. You look at the trucks and the Escalade IQ with over 400 miles of range, towing capabilities, et cetera. So making sure that customers do not have to step back in capability of the vehicle to move into an EV. I still think that we as a society have a ways to go on the charging infrastructure. It is coming, and you see a lot more of it. I think the next shoe to drop more than range is going to be fast charging. And how do you really change that equation so a customer can pull up to a charging station and get a pretty material charge in a short period of time, simulating gas stops, et cetera. So, we are working on charging speed. We are working on continuing the range. I think LMR is going to be a big step forward to us, in terms of bringing the cost down while also delivering that range expectation. Because between range, weight, and cost, there are a lot of gives and takes in that too. Really across the board, we're focusing on that EV technology and making sure that we bring a portfolio of vehicles that are competitive so that we can meet customers where they are. We've already got what I would say is the broadest, most capable ICE portfolio from everything from the Trax up to the Escalade to the Corvette. We need to be able to do the same and deliver that to customers in the EV realm as well, whether they're looking at range, charging speed, or value, which you've seen us produce. Yeah, absolutely. All right. Maybe shifting gears to the digital side of the business, software services. I think this is an area where there's increasingly more debate around what does the future of an OEM business model look like? How does software and services start to filter in and really change the revenue and margin profile of the business? You guys have added more disclosure. I think $3 billion of revenue this year is the expectation, double-digit growth going forward. What are the gating factors? Where do you see this business going over the next kind of 5 years, and how do we get there? What are the technology milestones that we need to see and that we should be watching to really audit your success and some of the efforts that you guys are making on the digital side of the business. Yeah. We've been very intentional in terms of walking our disclosures forward as the business has grown. We didn't want to go out there and promise the sun, moon, and the stars. But if you go back even to the 2021 Investor Day that we talked about. We had $20 billion of digital revenue by 2030, 11 of that was subscription services and so on. We're not there, but we're moving up really rapidly, and that's been very intentional. It really breaks into two components. One is the OnStar connectivity, and we talked in the last year, and you'll hear more coming from us about where AI can be connected cars, and what that vehicle experience can mean for customers, really enhancing that OnStar platform that we have. Just as a refresher, when you buy a vehicle, you get an OnStar basic package that's included for a period of time, and we defer some revenue over that time period. But it also gives us a direct attachment to the customer in order to be able to deliver them even more value. There's a lot of things that are coming around that space as to where we can grow within the car park, in addition to expanding that deferred revenue base with every vehicle that we sell. The second side of it is Super Cruise, right? We're still seeing 30%-40% attachment rates at the end of the three-year prepaid period, which is great, and customers really, really like it. As we get more into the technology space with eyes off, hands off in 2028 with the Escalade IQ, pretty excited about what that means. Our next mission is how do we get Super Cruise into more vehicles? We took a different approach than what many of our competitors did. Super Cruise is available as an option with purchase. Other competitors have included the hardware in every vehicle. We are working on getting the cost down to make that feasible and trying to marry proliferation of Super Cruise with the economics and the business case of making sure that it can be good. Because many of the competitors that are rolling it out on every vehicle have attachment rates of less than 10%. That is a lot of frictional cost to go in there into a subscription model, whereas we are leading with strength. We are focused on the margin of the business, and we are focused on growing it. We think there is more room to go there. On that piece specifically, in terms of getting Super Cruise hardware on more vehicles over time, where does that cost down come from? Is that something that you just have to control more of yourself? Is it software development? Is it actually the hardware itself in terms of cameras, ADAS systems, chips? Just curious how we should think about that path to a point where you can more broadly democratize the hardware so that you at some point have the ability to just allow a customer to turn it on rather than having to buy the hardware outright with the vehicle, which to some customers might not be worthwhile. Day one, they do not really know it. Just curious, what does that journey look like? How long do you expect it to take until you get to a point where you can include the hardware standard across all vehicles? Well, I think it's all of the above. I think there's hardware and componentry ways to solve that problem as well, but I think the more immediate opportunity is to really change how we go to market. Because for the most part, Super Cruise has only been available in some EVs, but otherwise really premium option package purchases versus just going in and saying, "Okay, let's price Super Cruise as an option on its own," right? Can you make it more attractive to people versus bundling that in a package where they buy things that they don't necessarily want? So, I think it's go to market. I think it's working on the hardware and the software solutions, and eventually getting that cost down to a point where you can really expand where it's offered ultimately to ubiquity. But that's going to take a little bit of time. But in the meantime, the business strategy is working really, really well. Our deferred revenue balance is up, I think almost 50%, and we expect it to be approaching $7.5 billion by the end of the year. So that type of growth should continue for the foreseeable future as we get more Super Cruise vehicles rolling off their three years and getting 30%-40% attachment rates. Then also the continued increase in OnStar connected vehicles, and what that's going to mean. In the future, when you look at that type of growth, I start to think about it as becoming really a platform change for us in the business, right? When you think about 50 million GM vehicles out on the roads in the United States, it is a great opportunity for the future for that to continue to build as vehicles become even more software connected and capable into the future. So that's what we're really trying to build. That's why GM Financial is important, GM Rewards is important, General Motors Insurance is important, and OnStar is important is because it gives us that relationship directly with the customer in an effort to deliver them value beyond the point of purchase, which fundamentally transforms the business that we've been doing for over 100 years, where virtually all of our revenue is really driven at the point of wholesale with the dealer. So I think the business model is changing. It's changing really fast. We've got very capable teams out here on the West Coast, in the Valley. We just opened an office in Seattle, really focused on that software growth opportunity for us, and the team's doing a great job. Yeah, it is great to hear. On the Super Cruise, the 30%-40% attach rate, the people that do not re-up or renew, do you get a good insight in terms of what the reason is? Is it the technology is not where we want it to be, we want more advanced functionality? What is typically the reason why someone does not renew at the end of that subscription period? Yeah, I would say that we have pretty good models predicting renewal rates. I think the number is something like 80% of the people who do not renew have not used Super Cruise in the six months leading up to the expiration. That could be because they live in rural environments. It could be that they live in urban environments. They do not do a lot of highway driving. They do not do a lot of road trips. Just the way they use their vehicle is not necessarily conducive to getting the maximum value out of Super Cruise. So, I think as that product continues to evolve, as we get more secondary streets, as we get more home-to-home, we lay out the Super Cruise miles that are out there. I think we can drive those attachment rates higher. But it is pretty good for where we have to see that 30%-40% attachment rate. Customers who use it, use it frequently, and really give us great feedback on it. Yeah. The other thing that you guys have mentioned is L3 by 2028 on the Escalade IQ. How should we think about just between now and then, any improvements in Super Cruise, whether it is point to point, if you have got plans to do that? Or should we just kind of expect it to stay Super Cruise where it is today, and then there is a big unlock in 2028 that really opens up the feature set. How should investors think about that pathway over the next two to three years? Yeah. Super Cruise is continuing to get better. We continue to use the data and improve it in terms of the ride quality and so on, and expand the mileage base, et cetera. I think it's going to be that evolution over time, and then ultimately bringing it to eyes off, hands off on the highway with the Escalade IQ. A lot of energy being directed at that because once you get that done, then the challenge becomes how do you integrate it into the rest of the vehicle portfolio? It becomes an integration exercise rather than a programming exercise. We feel pretty good about where it's going, and a lot of momentum behind it. That's great. Shifting gears, we only have a few minutes left here. Non-auto, beyond software and services, energy storage, defense, it's really topic of the day in the market right now. I'm just curious of where you see the biggest opportunities for GM, maybe over the next one-two years, but then also let's look farther out, three-five years. Where are the biggest opportunities for you to leverage your technology, your people, your manufacturing, your supply chain in other end markets that might also help reduce the cyclicality of the business that you operate in today? Yeah. Well, I think the most immediate one that is starting to accrete to meaningful value is on the defense side. We had a lot of success with the Infantry Squad Vehicle and what that's done. Being able to deliver that vehicle faster and cheaper to the military and to protect our troops and to help their mobility, has been really a great success story. Candidly, the military can't get enough of them. They rave about that. We were able to do that off a midsize truck platform and put it together, and that's served as a great basis for building up the reputation and we're working on more. I think the opportunity here is how do you grow that book of business and build that book of future production in various components. That's what we're working through right now. So no news to break, but we feel good about the growth plans of what GM Defense can do. Beyond that, I would say it's energy. I would say it's General Motors Insurance. I would say it's the GM Rewards and the Loyalty program. We're seeing tremendous growth after the cut over to Barclays last year. We feel good about where that's going because we already have a lot of loyalty inherent in the system. How do you use that loyalty to deliver more value to the customers and ultimately drive even more revenue through your card program and other rewards programs as well? Brought in a gentleman to do that who's got experience at Chase, got experience at Delta Air Lines, got experience at Visa. He's done amazing things in terms of really trying to drive that relationship revenue into the equation. So more to come there. It's off a small base, but we're seeing rapid growth in that, and I'm excited about what that can do for the next five or so years beyond. The insurance space. We talked about this a little bit earlier today with some folks, that there's a great opportunity here. We've talked about the ability to underwrite with data, and consumers that are coming in off seeing big discounts off their insurance bill. We also don't have the exorbitant costs of customer sourcing. There's a reason why all of the most familiar characters from TV commercials are usually tied to an insurance company. We don't have to do that. Getting that type of ecosystem and universe gives us a really good opportunity to deepen those ties with consumers, which not only helps on the insurance revenue side or on the GM Rewards revenue side, it also helps with keeping them in the ecosystem across the board, which ultimately pay dividends against all that competition that's coming to the U.S. because people are seeing threats to their business from China everywhere in the world, and they want to point more capacity at the U.S. That loyalty, that being in the markets where we are really, really strong players, I think is a good insulating blanket for us. Yeah. On the defense piece, I know you have nothing to announce necessarily today, but is it fair to say that you're looking beyond just the traditional kind of defense, like the Infantry Squad Vehicle, obviously, you have an established market there today. But you're partnered with Lockheed Martin. Should we expect it to look different than maybe it's looked in the past? When should we maybe expect to hear more about that? Yeah. I think people look at GM and say, "Well, they're really good at making vehicles." But when you look at our strength, we're really good at precision engineering, precision manufacturing, advanced engineering, material science. There's a lot of different things across that board. So the question is, how do you use that expertise, in a different industry with your manufacturing capacity, to really help grow a business? We think that's where there's an opportunity both for us and our shareholders and the taxpayers and the military as well. Great. I want to pause there, see if there's any questions in the room. Can I get a microphone up here if possible? Thanks for taking the question. Given the consumer's been much more resilient than maybe any of us expected, how much more interest rate pressure can the consumer take and still maintain that level of demand, especially on the higher end vehicles with the nice margins? Yeah, it's a great question, and I think it's going to somewhat be dependent on your view of the economy and the K-shaped economy, et cetera. What we've seen from our customers, particularly at the high end, is continuing to take premium trim levels and continue to look at premium segments. I'm not sure that that changes. That's why when we talk about our portfolio, most people think about the Denali, and they think about the Escalade. They don't think about the Chevrolet Trax, and they don't think about the Blazer and the Equinox vehicles that last year we sold over 700,000 vehicles that had an MSRP that started at $30,000 or below. The breadth of our portfolio, I think, is unlike others. We're able to do that profitably in ways that 10 years ago we couldn't do. 10 years ago, it was we build trucks and SUVs profitably and try not to give all the profits away on everything else. Here, we've got a portfolio, particularly around the ICE side, that performs well top to bottom. That's been, I think, an outsized contributor to our overall performance and what you've seen in terms of the consistency of our results. We don't want to see a world necessarily where people can't afford trucks. I think interest rates becomes a little bit of a challenge. Two, three years ago, I would've said, "Hmm, I think we're going to get a honeymoon from lower rates." It's really gone the other way. It's something we've got to look at. I would tell you the GM Financial team's done a really good job of making sure that we can continue to bring offers to the table to continue to stimulate that demand. Candidly, I would've thought, as rates have stayed higher, that the customer wouldn't have been as resilient as they are. So we've enjoyed that, and I think that can continue to hold. We're just going to have to figure out the best way to deliver value to the customer across the portfolio. Any other questions? If not, I'll ask one more. Kind of a wild card here, but on AI and how you're potentially implementing that inside the organization. You talked about it from an OnStar perspective and enhancing the product suite for customers. When you think about, other than cost, China's big advantage is their innovation cycle and how quickly they're able to bring product to market. How do you think about AI as an enabling tool to change GM's approach to bringing new products to market and having a more active refresh cycle, and how are you approaching that internally on AI? I think it would be easier to answer the question, where is AI not being deployed inside the company? Because it really is everywhere. Whether you're looking at engineering and manufacturing and being able to run simulations on things that historically just weren't capable of doing as quickly, all the way to the administrative side. So, our own finance team is finding ways. I had a presentation from a couple of junior finance folks that had produced an agent that was going to save 3,000 hours a month across manufacturing reporting, just from going from system to system, looking at variances and trying to find sourcing and part numbers and so on and so forth. That's happening real time, and that's without a broad-based deployment. We've talked before about the financial technology improvements that we're doing for our own house inside of GM. We'll get to a point where we spend 80% of our time thinking about tomorrow versus a typical corporate finance organization that's explaining variances to prior year, prior quarter, budget forecast, et cetera. A lot of that is getting automated as we speak and really allowing us to go and drive more value creation versus performance reporting. So there really isn't an area across the company where we're not doing it. We go through a scorecard as part of our monthly operating review that tracks AI usage by executive leader. It's a little bit of a contest. We're falling a little bit behind product development, but I'm hopeful that we've got some momentum behind us with some of these new agents, and we'll be able to pull it out and beat them by the end of the year. But it's friendly, healthy competition, but it's really improving the way we do everything. That's great to hear. Well, Yeah We're at time, so really appreciate you Absolutely joining, and thanks everyone for listening in. Thank you all for your time.