PATK
#Thanks.
Steve, this is <UNK>.
It would be our goal to be able to continue to execute, I think, again, as we've talked about, related to positioning ourselves with the capital structure to be able to do that.
We feel very good about timing of what we were able to put in place related to the equity offering, related to our credit facility.
So our goal would be able ---+ to be able to stay disciplined, and we fully expect to be able to do that in the event of continued uptick in the market, which we're very excited about and optimistic about as well.
If we do see a hiccup, we would expect to be able to continue to execute in that time frame as well.
So I would categorize it as staying disciplined to our approach, both in an up and down market.
Yes, Steve.
This is Josh.
So the anniversary of the vesting for our share-based compensation usually occurs in Q1, which is why we're seeing this benefit in Q1 consistent with the restatement last year.
So on a go-forward basis, as those share-based compensations vest, we would expect to see some type of either a benefit or deficiency in Q1.
As far as our expected tax rate, still consistent, around 36.5%, absent any of the share-based compensation benefit.
Steve, this is <UNK>.
From our perspective, I would say that we're going to stay consistent to what we've been able to do in the past, stay disciplined to our approach, whether it be the smaller acquisitions or the larger acquisitions.
We really look for tremendous brand value and that brand value proposition.
And so the opportunities to be able to bring on new product opportunities and capitalize on our existing platform with additive product space and management talent is what we really look for.
And so I would say that we're going to continue to look at a plethora of acquisition candidates and size, and we're going to continue to capitalize on that entrepreneurial spirit that's really allowed our brand portfolio to gain a lot of traction and be very successful.
So we're going to continue to do what we've done in the past would be our expectation.
Steve, this is <UNK>.
Steve, I just was going to say, I think, to add on what <UNK> was saying, I think the smaller acquisitions, as we analyze them, we look for those things and opportunities to synergize those.
A lot of times, smaller acquisitions are bolt-ons to existing product lines that we have where we can take advantage of things behind the scenes from an operational standpoint without impacting the customer, which obviously generates value to the entire organization.
So it's really one of those things that, as <UNK> put it, it's very strategic and thought out and we intend to stay disciplined to the way we've operated in the past.
Thank you.
