We believe that the move will prove a benefit to shareholders over time in terms of greater visibility, increased liquidity and broader investment appeal for individual and institutional investors. Additional purchases will be driven by overall financial and market conditions.
Capital expenditures are down considerably over the levels of three or four years ago.
The expenditures in 1994 and 1995 were driven largely by the rapid expansion of Chemdal's absorbent polymer capacity. Looking forward, we expect that capital expenditures, at least for our current businesses, will more closely approximate depreciation than in the past. Approximately 50 percent of that figure is related to maintenance capital.