“So as you know, we've been $1 billion-ish per quarter already. We are growing. Our cash flow continues to be quite strong. And so while we did not give any explicit date on this, I would expect that the timing for us to go through this will be consistent with what we've seen in our prior program, for example, the $10 billion that we announced in the beginning of last year.”

In context

“of EPS growth. We're now at $4.5 billion, so we're a little above that, so I see no reason why that would continue. And we always want to focus on EPS growth of the backlog because the revenue impact can vary based on whether it's tolling or pass-through, right, on the energy. Sometimes it will pass through the energy which makes higher revenue, as you know. Sometimes we take it totally, and it will be lower revenue. But the returns are consistent in how we look at it, the terms and conditions are consistent. And so from an EPS perspective, we fully expect the 2% or so on top with that backlog. As far as the buyback, we've also grown. We have to remember that and how I think about the $15 buyback is the pace at what it should be consistent with how our use of the prior programs have been. So as you know, we've been $1 billion-ish per quarter already. We are growing. Our cash flow continues to be quite strong. And so while we did not give any explicit date on this, I would expect that the timing for us to go through this will be consistent with what we've seen in our prior program, for example, the $10 billion that we announced in the beginning of last year. But again, our priority will always be growth and investing in the business. It just has to meet our criteria. So we view that we have ample capital to not only pursue every project that meets our criteria, but obviously a significant amount of excess capital that we can deploy towards this program. Operator: We will take our next question from Jeff Zekauskas with JPMorgan. Your line is open. Jeff Zekauskas: Thanks very much. When you look at your cost of goods sold line, you went from 50 to 85 to 43.14, you went down 19% and your revenues fell 7. I was hoping you could analyze the decrease in cost of goods sold? Now I know that there's cost to pass through which is there, and I know that your engineering business was much more profitable on a revenue basis. But can you talk about the rea”