“Our full year EPS guidance assumes weighted average diluted share count of approximately 1 billion shares, which excludes the impact of any future open market purchases.”

In context

“ct an increase in earning assets, driven by both loan and lease portfolios. We are forecasting another year of robust adjusted automotive free cash flow. However, we anticipate year-over-year headwinds in the range of $1 billion to $3 billion from the non-repeat of working capital benefits realized in 2024, primarily from dealer inventory restocking, the timing of payments for previously accrued liabilities, notably warranty and the inclusion of Cruise spend. Capital spending is expected to be similar year-over-year and in the $10 billion to $11 billion range, including battery JV investments. We continue to strategically spend on our ICE portfolio and build flexibility into our manufacturing capabilities to maintain agility to adapt to consumer preferences between ICE and EV powertrains. Our full year EPS guidance assumes weighted average diluted share count of approximately 1 billion shares, which excludes the impact of any future open market purchases. In closing, I want to express my sincere gratitude to every GM team member. Their hard work and dedication have been pivotal in driving our strong financial performance in 2024. Our relentless focus on execution, discipline and adaptability has enabled us to successfully navigate a dynamic and challenging landscape, and we believe these key success factors are going to continue to support our efforts towards another promising year in 2025. This concludes our opening comments, and we'll now move to the Q&A portion of the call. Operator: Thank you. [Operator Instructions] Our first question will come from the line of Dan Levy with Barclays. Your line is open. Dan Levy: Hi, good morning. Thank you for taking the questions. Wanted to start with a question on the guidance and specifically if w”