Gary Prestopino: Okay. That’s fine. Thank you. And then just getting into this write-down again, exactly, could you just briefly explain what happened your actual book value or your market value fell below book and by accounting convention, you had to test your goodwill, and that was the write-down, is that very simply how to phrase it?
Ron Tsoumas: That’s correct, Gary. And the last day of the quarter, closing stock price, our market cap was less than our book value of the company. And there has been a trigger. And we go back to the business units that have goodwill, reran the projections and all of that valuation performed and came up with the impairment amounts on two of those reporting units. Just, we do test for this annually, each year, about when there is triggering events in between the annual impairment tests, we do test in between the annual ones and this is what happened in this particular quarter.
Gary Prestopino: So, the trigger wasn’t anything about the performance of the divisions, it was really – or the auto, it was just a trigger by accounting conventions, your market value went below your book?
Ron Tsoumas: Correct. That was the triggering value, the triggering event. And then we recast all of the projections as part of this. We recast all of the projections for the current fiscal year and going out forward and ask you is to develop the models, if it’s some – for the discounted cash flows, and then to bring that back to present value, and then assess whether the carrying value is higher than the – or not of the fair value. And that is compared and then the impairment was taken at the two businesses in excess of $56 million.
Gary Prestopino: Doing an impairment like this on a longer or long-term – longer term basis, does this really change your outlook for what your capital spending would be, particularly with the businesses that had the impairment hit?
Don Duda: Go ahead.
Ron Tsoumas: I got first of all and Don you can inject, it’s more about the impairment resulted from more about acquisitions that occurred in the past and performance of those cash flows. And that isn’t necessarily mean that you are not going to reinvest in the business. Obviously, North American auto, we are doing a lot of investment in [indiscernible] support our new programs. So, that part of is forward looking. The impairment and the goodwill that was created was backward looking.
Gary Prestopino: Thank you very much. Appreciate it.
Operator: Thank you. As we currently have no further questions on the line at this time, I would like to hand it back over to Mr. Duda for any closing comments you may have.
Don Duda: Thank you very much. I will thank everyone for listening and for their questions and wish everyone a very safe and enjoyable holiday season. Good day.
Operator: Thank you. Ladies and gentlemen, this concludes today’s conference and you may disconnect your lines at this time. And we thank you for your participation.
