Octavio Marquez: Yes, Matt. Probably an important thing to remember is we still have elevated backlog levels, our long-term goal is to have a backlog of roughly two — a little bit over two quarters of product revenue and backlog at any given time that would provide greater efficiency in our operations. It seems that we’re north of $1.2 billion to $1.3 billion — almost $1.2 billion, $1.25 billion; we need to still keep accelerating deliveries and get that backlog to a more normalized level. So there is still opportunity to accelerate our backlog conversion.
Unidentified Analyst: Excellent. And then just one clarification, if you will. I think the non-GAAP EPS number; there was a large tax included, could you just give a bit more color around that?
Jim Barna: Yes, that Matt — and you know, this quarter, I think a little bit — there is a lot going on, obviously, from an accounting standpoint with fresh start and the evaluation efforts that had to go into that, as well as the impacts associated with the plan with respect to the reorg items. And so, that’s essentially the impact from a tax perspective; once taking off the valuation allowance in the U.S. relative to the growing concern moving away and reassessing those and running that year-to-date tax impact through the third quarter. So as I said, there’s a lot going on there, so happy to spend some more time there as necessary. But that’s the catch-up from a non-GAAP perspective, considering all of the other things happening related to fresh start accounting and the accounting group plan [ph].
Unidentified Analyst: Awesome. Thanks for the color, Jim. That’s all I’ve got.
Operator: Thank you. And we have a follow-up question from Matt Summerville of D.A. Davidson & Co. Matt, please go ahead. Your line is open.
Matt Summerville: Couple of questions. OpEx was down $14 million quarter-on-quarter, I think year-to-date down $20-ish million. Talk to me about the sustainability there. What resets from a comp standpoint in 2024? How we should be thinking about moving into next year, given some of the moving pieces there?
Octavio Marquez: So Matt, I think that the way we need to think about OpEx is there, you know, we’ve reset incentive compensation in our plans to the appropriate level. Next year, clearly, we will still have to deal with labor inflation but we’re working on how we offset that with efficiencies in our operations. So what I would tell you is that, we believe that the level that we’re at is a sustainable level where any increases due to wage inflation and others we will be able to offset with efficiency in our operation, and that is our focus. We really want to maintain our SG&A, our total OpEx at this level and any increase needs to be offset with efficiency. And we feel comfortable that we will be able to achieve that in the coming in the coming years.
Matt Summerville: And then, maybe just talk you know, bigger picture, obviously follow Diebold long time and every new CEO or newer CEO that’s taken over Diebold has unleashed sort of a multi-$100 million incremental sort of cost-out [ph] program, and I know you’ve done some of that. But I guess I’m curious Octavio, is there more structural cost-out [ph] still to be had at Diebold? And if so, could you elaborate on that a little bit? Thank you.
Octavio Marquez: So Matt, you know, I always threat the way I want to run the company. And again, I’m one of the many CEOs that you’ve covered, and as I always joke with you, hope that you cover me for many, many years to come. But the way I want to run the company is with the mindset of continuous improvement. So, we don’t have one program or I don’t want to run a program that’s focused in the short-term, I want to run a program where the company keeps improving quarter-over-quarter, year-over-year, because we will always find additional efficiencies in our business model; we will respond to changes in the market, we will respond to customer preferences, but we need to be a nimble [ph] enough organization that’s always thinking how do we can continuously improve.
So perhaps, you know — so to your point, will we take some — will we make a big new program? My answer to you is, we will always be looking for efficiency in our operations but it needs to be a consistent improvement. It’s not a onetime thing, it’s quarter-over-quarter we need to improve, year-over-year we need to improve. And as Pat said in his remarks, there’s ample opportunities for us to keep improving our operations. And we’re focused on making sure that we’re operating in the most efficient way possible.
Matt Summerville: Got it. And then, maybe just one more. Over to the retail business, self-checkout obviously doing very well for you guys. E-pause [ph] shipments down, what does that sort of infer from a macro standpoint? And how should we be thinking about E-pause [ph] into 2024?
Octavio Marquez: Obviously, Matt, I always want to have a healthy E-pause [ph] business, where — you know, it’s an important part of the business. But we are clearly seeing and this is part of our strategy, a shift to self-service. So, E-pause [ph] is an easier decision to delay by customers to replace self-checkout, it’s a necessity. So while all of our efforts are focused on how do we accelerate self-checkout, but again, you know, you will see that we also will have a keen eye on accelerating growth on E-pause [ph] as we go forward. So I will tell you that if you’re thinking macro-economically, self-checkout continues to be one of those drivers that helps retailers on the cost side of the equation, but also very importantly, in creating a better customer experience at the checkout. So, I would say that we will continue pushing very hard to grow our self-checkout while maintaining or slightly growing our E-pause [ph] business.
Matt Summerville: Thanks, Octavio. That’s it.
Operator: Thank you. We have no further questions. And I’ll hand back to Chris for any closing comments.
Chris Sikora: Yes, thank you. Thanks, again, for the time today and please feel free to reach out to me in investor relations if you have any questions. Thanks.
Operator: Thank you. This now concludes today’s call. Thanks all for joining. You may now disconnect your lines.
