However, even within that, within some of the segments, you do have some seasonality that is normally expected in Q4. And I would point to the retail business as part of that as well. So, I think those are the major factors that give us kind of the parts and pieces that inform the fourth quarter guidance.
Alex Fuhrman: Okay. That’s really helpful, Jeff. And then if I could ask also just about the backlog before COVID and before the acquisition of Knoll, it seemed like your backlog was more or less consistent around the $400 million level. And then of course, with Knoll and the pandemic, we saw balloon up to $1 billion. Now, it’s been working its way steadily down for a few quarters and is around $700 million. Can you give us a sense of where we should expect to see that level out with Knoll and in the post-COVID world are you expecting that number to continue to work lower throughout next year?
Jeff Stutz: Alex, we are still €“ the world has been so disrupted, we are still kind of waiting to see ourselves what kind of the new normal looks like. But I would tell you that I think based on the patterns that we see and based on how orders are scheduling, we are nearing a point where we think the backlog is largely stabilized. It might €“ you might argue it’s still a bit elevated in total. But I think as we move through Q4 and get into the €“ certainly, the Q1 of this next year, our expectations would be that we are, if you will, kind of at that new normal level. So, I am not going to give you an absolute dollar amount because business can €“ as soon as I do business conditions will change, but I think we are going to close.
Alex Fuhrman: Great. That’s helpful. Thanks.
Andi Owen: Thank you.
Operator: And we do have a follow-up question from Budd Bugatch with Water Tower Research.
Budd Bugatch: Yes. Sorry to prolong it, but I just wanted to make sure I understood something. Jeff, you said that the only adjustment you would expect in Q4 is really the amortization of purchased intangibles. Are there still acquisition and integration charges continuing, I think you told they would continue for a long time?
Jeff Stutz: Well, this is why we are not guiding. We don’t have absolute clarity on what those will be. That’s a live program that will unfold. So, that’s why we have tried to keep it out of the numbers because it can move around based on actions and levers that get pulled in the quarter. So yes, there are €“ there is potential for other things. The only absolute known would be that amortization number that I gave you.
Budd Bugatch: Got it. Okay. Well, thank you very much and again, good luck going on the future periods.
Operator: And there are no further questions. We turn the floor back to President and CEO, Andi Owen, for any closing remarks.
Andi Owen: Thanks again everyone for joining us on the call. We appreciate your continued support of MillerKnoll and we look forward to updating you on our progress again next quarter. Thanks again and have a great night.
Operator: And that does conclude today’s presentation. Thank you for your participation and you may now disconnect.
