FDS
#That's really not a metric that we track.
We have a big variety of clients that pay us different price points for different types of users.
So it's really not one that we pay attention to.
I think it's pretty evenly split down the middle, to be honest with you.
Particularly on the buy side.
This is <UNK>.
The $3.2 million is predominantly in the SG&A line.
That's a great question.
This is <UNK> <UNK>.
I would say, if I had to guess, I would probably say half and half.
I think half of it is probably pure market health and the other half of it when we look at our win loss, I think it's definitely coming from market share gains from others.
This is <UNK> <UNK> again.
I think it's pretty consistent over the last few years.
It is something we focus on trying to understand, whether our ASV is coming from what we think of as alpha or beta, meaning clients are adding more users and we're not really gaining share.
But I think it's been pretty consistent through time, as half and half would be the way I think about it.
The fixed income product continues to do exceptionally well in a few different dimensions.
We have through our portfolio analytics products selling fixed income in PA is doing well.
We have a fixed income analytical services product that has a high growth rate and we're also doing well and selling credit workstations.
I think it's pretty consistent with prior quarters.
We're not seeing any meaningful change there.
I don't think we're seeing the impact of that yet.
I think that will be coming in future quarters.
Yes.
Correct.
Over 95% of our invoices are in US dollars.
Sounds like an interview question.
We've always looked at our opportunity at FactSet through multiple lenses.
We'll look at the opportunity geographically, we'll look at it by the types of firms that we're selling to, the different sites of users or workflows within those firms, lots of different ways of looking at it.
One area that I think you'll see increased focus from at FactSet is specifically around that end-user work flow.
So I'm going to be obsessed with making sure that we're providing different types of users the content and analytics that each of them wants and delivering it the way that they want.
We've done that in past.
We're just going to raise the priority or sort on that particular lens that we look through.
I think going forward our capital allocation will still be very similar to what it has been in past.
We look at share repurchase, dividend and M&A and we try to find the best areas and the best [R] funds to get the highest return on capital at the end of the day.
Thanks.
Hi Patrick, it's <UNK> <UNK>.
Our policy, as <UNK> said, has always been to look at those three categories: dividend, share repurchase and M&A.
We've looked at many deals that are much larger than we've actually accomplished, so we've always been open to it.
It just has to be strategically the right thing to do.
I think the actual $300 million facility was one that Bank of America offered us at no cost, so we took it, but I don't think it's really a change in policy.
No.
Zero.
Thank you, everyone.
Thanks, everyone.
See you next quarter.
