“But looking ahead, our recoveries inventory should taper off a bit in the next year or so because the inventory of recent charge offs will itself be going down.”

In context

“s. Which is pretty striking given you know? And that is not a thing that I think is being universally observed in the card business, but it is but it is a thing that we have seen strength in our originations for really throughout this whole post pandemic period, and it is 1 of the things that gives us the confidence to lean into our originations spend that money on marketing that we talked about etcetera. 1 other from a credit view is recoveries. Coming out of the pandemic, our recoveries inventory was unusually low, but that inventory has increased rapidly over the past couple of years. And has contributed to the improvement in our overall loss rate over that time. Discover's losses peak later than legacy Capital 1's and they are now seeing the same dynamic be a tailwind to their losses. But looking ahead, our recoveries inventory should taper off a bit in the next year or so because the inventory of recent charge offs will itself be going down. So that is Mihir, that is a look at leading indicators But if I pull way up, we see real strength in the consumer and strength across our business performance in card and in auto. And that is why while we keep a very you know, wary eye on the economy and international development, we are leaning in with a lot of positivity into our growth strategies. Next question, please. Operator: Our next question comes from Erika Najarian with UBS. You may proceed. Erika Najarian: Hi. Good evening. I would not prolong the call if this question was not important, but I think investors really want clarity on this. And Rich and Andrew, you keep mentioning that your earnings power is expected to be as you anticipated when you first announced the Discover deal. So I was hoping to unpack that a bit. So I wa”