George Kelly: So a couple for you. First one, your share repurchase authorization. I was trying to keep up with you on the call, but can you just go through that again? How much is remaining? And then did you give us an estimate of when you expect to exhaust the current authorization?
Sean Sullivan: Yes, there’s about $260 million remaining on the authorization, and I did not give you an outlook more just that we would meaningfully participate through early Q4 given the Magnus agreement but I think as we’ve said previously, we would expect to probably extinguish that plan later this year, early into 2024.
George Kelly: Okay. And then second question for you. Can you give us a breakdown in your ball business with such strong growth in really the first half. But just sticking with the quarter, what was the breakdown between volume and pricing? Just ballpark if you have that.
Sean Sullivan: Yes. It’s mostly volume, George. We did take price, as you know, on the Pro V1 and the Pro V1x model. So — but the majority is volume, again, speaks to what David was talking about just the momentum we have in the ball business.
George Kelly: Okay. Excellent. And then last question for me. Regarding your inventory and your gross margin, is your inventory now — I mean there was a period when the costs of your inventory, you were dealing with all the kind of supply chain issues. I’m just curious if your inventory now has kind of flushed through all that, and it’s more of a real-time sort of normalized number? Or is there still a bunch of kind of higher cost inventory in your mix?
Sean Sullivan: Well, if I understand your question, I think input cost, we have seen those increase. As I talked about, our inventory levels, we’re very comfortable where they’re at. They’ve certainly come down sequentially, I would expect the same cadence through the third quarter and then building again in the fourth. So I think input costs across the board given inflationary pressures have affected all of us. So I don’t know if that answers your question or not, but we’re comfortable with where the inventory levels are. I don’t want to repeat what we said in our prepared remarks, but I’ll leave it at that.
George Kelly: Okay. Let me try one more time. There was a period last year and in 2020 — I mean, 2021 is so long ago now but late last year as well, when it was a lot more costly to bring your inventory to the U.S. and you were dealing with all these supply chain issues and things? All of that higher-priced stuff has flushed and sold through. Is that fair? Are we looking at a more normalized kind of pricing environment for your inventory balance?
Sean Sullivan: Yes. I think we’re getting to a more normalized state, correct?
David Maher: And everybody, thanks for your attention, as always, and your interest in the Acushnet Company. Hope you have a great rest of summer and we look forward to speaking again after our third quarter. Have a nice day.
Operator: This concludes today’s call. Thank you, everyone, for joining. You may now disconnect your lines.
