Scott Schneeberger: Thanks. I appreciate that. And then for the follow-up, it’s a bit of a two-parter and one to your housekeeping. I was just curious, your — thanks for answering on Seth’s question on CapEx, what that will look like, just other uses of capital as we head into fiscal ’24, thoughts on buybacks, thoughts on M&A, any other cleanup on the balance sheet you were considering? And then that second part would just be, if you could remind us what a one day — one extra workday quantitative impact is that in fiscal ’24 versus ’23?
J. Michael Hansen: Sure. From a capital allocation, I’ll start with our expectation is that cash flow is going to continue to be very good in fiscal ’24. And secondly, our balance sheet is in great shape. We — as of May 31, we have no variable debt. And so we can do a lot of things with great cash flow and a great balance sheet. We would love to use that on M&A if the opportunities come along, and we’ll be as aggressive as we can be in terms of looking for them and making sure that they come at the right value, but we love that opportunity. Buyback is another great opportunity, again, with good cash flow and a great balance sheet, we can put that cash to work, and we certainly could do it in the form of a buyback. So, look, our capital allocation philosophy and strategy hasn’t changed.
And with — again, with a healthy balance sheet and a healthy cash flow, we can do some good things with that as we look forward to fiscal ’24. Your second question of the one workday for a fiscal year. In this case, it would be about a 40 basis point benefit to growth — sales growth. And think about it as about a 12 basis point benefit on bottom line on operating margin.
Scott Schneeberger: Great, thanks. Appreciate all the color.
Operator: Your next question comes from Shlomo Rosenbaum with Stifel Nicolas.
Shlomo Rosenbaum: Hi, thank you for taking my questions. I wanted to just ask a little bit more on kind of the hiring environment at your clients. You said you’re not expecting it to change. It’s been a very strong hiring environment for the last several years since that kind of initial dip in COVID. Is there a way that you think about it in your mind in terms of the strong hiring environment and just kind of clients adding personnel driving some of that revenue growth, particularly in the Rental Uniforms division? Or do you think it’s really a lot more of the company’s own efforts in terms of cross-selling, finding new customers and pricing? Then I have a follow-up.
Todd Schneider: Good question, Shlomo. We love it when our customers are hiring more employees and it certainly allows you to swim a little bit downstream then. But we’ve got to find ways to add value to customers even when they’re in the more flattish type environment. That being said, there is still almost 10 million job openings. So that’s very encouraging. We’d love to see those jobs filled. But we are — we’re going to find a way to be successful whether our customers are hiring at rapid rates or at much lower rates, we’re going to find a way to be successful. And that is impacted by our ability to — we would call it cross-sell, bring more value to the customers in other products and services that they may have with maybe a new business unit, but maybe within that business unit just selling more items.
So there’s a lot of inputs to that and how we categorize it. But we’re — we like the spot that we’re in. And we think the products and services and the value proposition that we’re providing is resonating with people. And would certainly love the economic to continue or even improve.
