… the year with an international franchise that is larger than all … be approximately 23.5%. Capital expenditures for Q2 were $354 million … between now and Q4 that will shape Q4, how Q4 looks like. … kind of get into the fourth quarter, and then thinking about 2026 …

… expect continued ramp on franchise programs and normal operational … second-half sales. Lastly, Q4 has historically been our … treatment of R&D expenditures, partially offset by the … of cash generation in the fourth quarter, consistent with our seasonal …

… expect to reverse in the fourth quarter. Overall and e-vapor … capital requirements. Project capital expenditures slightly above our prior forecast … of building the brand franchise and and and all … implying a reacceleration again in Q4. And I guess my …

… . Within our private credit franchise, we were in negative … earliest in the first — fourth quarter. And if approval occurs, … significant levels of marketing expenditure for the Q2 over … robust real estate franchise and alternative credit franchise, we have a …

… to continue to grow our franchise. Given the strong growth in … the year due to the expenditures related to various Major and … $7 million. In the fourth quarter of this year and going … quarter, excluding Macatawa and then fourth quarter, I think that would be …

… a leading community bank franchise, delivering high quality … performance by excluding certain expenditures or assets that we …                                         Second quarter   First quarter   Fourth quarter   Third quarter   Second quarter   2025 …

… capitalization of R&D expenditures. We are, therefore, reducing … integrating trucker tools, our Q4 bolt-on acquisition and completing … quarter and a more difficult fourth quarter comp. Before turning to … it, just neutral for our franchise. Final thing I’d …

… quarter is published when the fourth quarter is released (March), at … , including trade secrets and franchises) that may arise from … destination of funds (current expenditures or expenditures for fixed assets). CY … outcome of the survey-based Q4/end-of-year …

… as lower investments in capital expenditures. Quarterly Dividend Subsequent to the … and administrative - other - fourth quarter of 2024 and 2023 (27 … relationships with and attract new franchisees, and franchisees'; ability to successfully manage …

… the highest level since the fourth quarter of 2023. Earning asset … paid across the deposit franchise. Turning to noninterest income … versus investing capital, having expenditure and then needing to grow … since we built out the franchise and we spread across …