“In fact, we expect the next three years to say $4 billion more than $4 billion in cost”

In context

“u guys talked about AI and digital transactions, but just would love to to hear about anything notable for the quarter and the next year. Thank you. Pascal Desroches: Mike, look, across the board, we continue to do a really good job of managing all the costs that are not geared towards customer growth. This in 2025, we incurred pretty significant step up in customer acquisition costs along with advertising. And we those if you strip those out and you look at the underlying business, it was pretty substantial cost savings. You can see some of those dynamics in our trending schedule and it's across the board. Look at where we what we are doing whether it's in AI, shuttering legacy footprint and the underlying infrastructure, all those things are contributing, and we expect that to continue. In fact, we expect the next three years to say $4 billion more than $4 billion in cost And it's a muscle we have built, and I feel really good about our ability to do so as you look ahead Right. Very clear. Thank you, Pascal. Thanks, Mike. We promised we'd give you a little time because we went a little long on the prepared remarks. So operator, you can go ahead and take one more question here. Operator: Absolutely. And our next question comes from Sam McHugh of BNP. Please go ahead. Sam McHugh: Yes. Thank you, Two questions, if I can. First on bad debt. I think it's stepped up a little bit in this quarter. I don't if you could give us some color on what you're seeing amongst consumers at the moment. And then secondly, the guidance and cost cutting and accelerated EBITDA growth. What are we thinking about in terms of cost reduction? Obviously, you've kind of stepped back fr”