… 10 billion. Cintas posted fourth quarter and full-year earnings … reflected higher sustaining capital expenditures and higher interest expense … Technology posted its fiscal Q4 results for the quarter … Addison, Texas and franchises and operates restaurants under …

… turning to capital deployment. Capital expenditures were $198 million or … quarter, coupled with a stronger fourth quarter. In summary, the Aerospace … lower-margin programs to new franchises for several years now. … SKU will be Q3 to Q4? And relatedly, you’ve …

… continue to invest in our franchise and serve the needs … year, and not just in Q4. Longer term, we remain … that are operational and technology expenditures, just managing data purge … look historically, second quarter and fourth quarter tend to be higher. You …

… with an established and successful franchise dating to the late … per day range in the fourth quarter and beyond. Notably, during … our current forecast for capital expenditure in 2025 and 2026. Total … assume any exports in the fourth quarter, and all of it …

… 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 …

… 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 …

… 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 …

… . 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 …