I want to share with you what we are experiencing at P&C—neither to boast nor complain—but rather to give our perspective on the issues of physical health and the global economy. The days of wondering whether the effects of the COVID-19 pandemic are short-term are over. So too are the days of figuring out temporary cost mitigation steps for our clients and the notion that social distancing is a temporary inconvenience. The furloughs and permanent headcount reductions have been determined (if not already implemented), the store closures identified, the airline capacity reductions and route cancellations announced, and salary reductions across many other organizations determined. Pretty grim—we agree. While absolutely jaw dropping, that work is complete and behind us.