Together with our Board of Directors, we addressed how we answer the current and future challenges facing farming and construction. In our discussions, the customer was always the common denominator. Through customer-inspired innovation, we deliver solutions that serve people and the planet. In 2022, we started transforming ourselves from being an ‘iron’ focused company to one whose technology capabilities are just as robust and advanced as the equipment we have been building for over 180 years. Our acquisition of Raven, a leader in precision agriculture technology, has accelerated this transformation. For example, our autonomous spreader, launched in fall 2022, fertilizes fields under its own control, and our autonomous grain cart technology, launched in fall 2021, enables a combine harvester to call, and control, the tractor and trailer into which it unloads grain, and keep them perfectly in sync as it travels along the field. These technologies bring farmers greater yields while using less resources – including pesticides – and they save time, effort and money. An independent study conducted by the Association of Equipment Manufacturers and associated groups has shown that, by adopting advancements in precision agriculture such as this, farming productivity has been increased by an estimated 4%. These precision farming innovations are not only helping our customers do more with less; they are improving their daily working lives.