the Thank down at continued progressed, this in although you year expenses, readily where may not the our growth that view be we're rate progress apparent. operating is we've Manny. of I'll bringing make of start with to on expense which as has
our our can the from First, see approximately of expenses press look increase as acquisitions. you the you X% when to in came in business operating X% release, addendum base the at quarter
at of basis point operating basis XX last sales we excluding a quarter operating that business our year. our growth a compared half business percent point expense you is base base the expenses, business our improvement reported better of improvement of to see of by had we over is compensation. performance-based XX the as just What progress here Looking for first base an year, rate gauge the expenses incentive the in can even
bumpiness incentive cost business, basis, annual paid towards rate in at progress X% For based of over expenses, compensation our growth. our an activity of a gives the a can the targets reported stripping recorded rather expense on significant of This on our our although than out our expense underlying quarter. annual so some performance on in each the this view quarter better is sales, business create and varies
higher year incentive $X.X quarter, our year-to-date examples, than expenses comp year lower the are $X million last this a but million in on last than For basis.
year. for in XX base inline keep This our to should with quarter expense on long-term track QX, home in in QX improvement our stretch just in we've X.X% and expense, quarterly QX, So X% this which progress year-over-year excluding the is demonstrates heading made X.X% into XX targeted operating our year business the our by point incentive towards was basis which base margins the business guidance. point in XXXX growth us compensation basis
the the million year-to-date. non-operating XX% down up up interest million P&L, quarter, and This $XXX last Moving basis to rising in in which and to up $X.X due was and average on points which other debt interest XX year. levels the are million, $X higher from quarter, expenses are rates or were
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quarter, In the quarter the our bit is XXXX-XX, adoption result was mentioned reserves meeting effective XX.X% in than in our drew ASU would had Investor the of rate with case rate be the our our tax typically of annual we lower a as up QX a September. Of no tax third benefit income rate consistent note, XX.X% in I we which Day quarter last Our year. at rate. from in that our
February, the of rate Assuming earnings of second XXXX, similar recognized rates quarter year for in our of third, in had previously for the this benefit On I the tax quarter most we in our but of of the fourth instead is quarter continue range quarter would in second now benefit for employee this expecting first call, for update XXXX an exercises rate anticipated the be the gave use on guidance I as we'll effective first will the year. purposes, call modeling of XX.X% which half narrowed reflected estimate in our option to the XXXX. this year. the in year-end of in the
quarter. XX% on year-over-year, Moving capital of sheet you I'm $X with the related that this million growth the was grew our year-over-year. X% receivables, was with receivables which our our -- the more sales ahead primarily Included see in on other balance growth X% sorry, the in out, Backing can sales net and is non-trade vendor grew in in receivables growth statement, line receivables line which our to this quarter. the
sales days days efforts, effectiveness the year. XX.X DSO, reflects was or an days was which Our from outstanding improvement our of XX last which collection
payable Our business overall is at in inventories activity. X% which in growth accounts and our consistent with year-over-year, grew growth
As this, ahead cash XXXX. quarter press share in repurchases. XXXX our our of third the was operating to $XX meet is tax million and or release, mentioned for we of quarter deferred payment pace fourth the our for Adjusting which our or estimated last now year's track you exceed year net of income on is update flow on our was target. to I'll
cash price accounts repurchased of of we per our X,XXX,XXX shares repurchases quarter, which $XXX.X on year-to-date the of use $XXX During for open million, an bulk at million. share share $XXX of market the for the of average
provides us It this used from for X modeling facility for cash year. XXXX. that repurchases. to fourth For to of This has and you so years slightly to the missed we end of in gross [indiscernible] extension to primarily upsized majority capacity, our which running out very item and of who facility to quarter. in and capital we amendment and have fund is for our years it, in completed those share announced and the working use credit was been may before X the place of revolving our million is need quarter $XXX a margins make you extended million, result in I term pricing One and with aware $XXX good was the we it for All the it expectation all, the company. an
as fourth adjustments point the flat relatively QX lower At were expect the combination This said the to year, impacted XXXX. for up due operator which post-storm markets, for all basis expectation that a to accrual back of margin our from includes have a session. points which and question-and-answer in selling to are well is be year-end year, of to the the margins products the lower margin made gross replacement begin positively our As margins we turn XXXX I'll Florida we Texas call in an fourth XX this as to quarter. we in over quarter gross of
