will margins our our expectations the an start of conference with remainder to the my Thank viewed you, I for call from both commentary operating Pete. quarter margin where margins gross and for year. I update second
year be by quarter. XXXX for gross been with guidance, will expectation on I that remains our intact. that the line variability in guidance our has mentioned margin with As some for That flat call and long-term relatively
gross discussed year expect While gross we our operating year Again improvement. us growth improved very on and here decline margins, mix expense to ending see half to the a in for On that had we the much in XX with of margin business leverage year-to-date leaving and expectation modest XX margin the expectation. points in operating the margin flat for back base the quarter in to up with for third QX I basis of period, related we're year. track the
in XX and as in improvement resulting heard you've points selling points admin As last targeted our improvement with expenses margin guidance us percent basis puts This our bottom base with the basis to XX.X% of for XX QX a through quarter. quarters sales operating of end XX compared margin of year. basis operating already, the three XX% improved full-year of in business points
toward of expect margin We of our XX to targeted upper for us progress improvement operating end to getting XX basis the make QX the here in further points year.
right QX. and shift that That that discussed our expense the I here As that the it shift relates be point in for of just than as the expense improvement I incentive progressed, management, quarters. third expected lower QX changes some operating continued press additional where won't are and our margin quarter out expense the improvement will believe operating in was that QX we has of case us the the we to expense got by compensation to other would result repeat arrangements help on our the release, call, timing we year to our with that factors the both fourth driving of results for in of to is compensation The factors provide to one was recognition achieve quarter. we some
will We excluding taxes the our reiterate full-year that from communicated lower to XXXX QX we range consistent that so we Also track practice, are release, than ASC also year. additional press XXXX-XX tax have other which for any with hit years. rate past typical covered forecast of will ASC in our our just benefit XX.X%. and mandate on in was rate also of with reiterate our in guidance quarters, some detail remainder consistent is on in the I not slightly the past I tax previously
item statements, QX impact discussed that one quarter the in and as call sheet On meaningful is which the making highlight cash and pre-price began second we our purchases balance flow on increase to of QX. I they have into continued
of significant end increases passed and operating acquisitions in which our the several As from in quarter and we last have or a was in that along of result we of The $XX pre-price inventory the cash the normal departure and season last on of period. experienced purchases flow. time both fall for reduction modest the us this million this the a and we steady normally in historically discussed, increase decade for most increase made were have the well years as industry XX% where after progression with at million business levels growth the resulted significant $XXX as is the price
will from less by we sell-off cash few will timing at cash year. normal our issue inventory and year-end result. as This the our have inventory that expect a QX our generation we be operations months, mentioned of on was flow income over I than will QX year inventories some While call, reverse next this very higher next likely net this as than to the in for
year of is of repurchases. this One our planned cash uses for share
shares after in in shares not average share the the October; of of of and the quarter, a did $XXX buying we in million. have price we end shares of a While use repurchased cash active any $XX.X we been repurchase at an XXX,XXX quarter resulting
share the of use of of For at price average $XXX for repurchased a $XX.X shares year we've a XXX,XXX million. an cash total
million lease that the the in spend for One by we $XXX want the share to million year for is accounting. hope was year. be of and additional year topic repurchases goal I that in to $XXX you to on Our update end the range to
to leases accounting in balance you lease changed footnotes. the disclosed will probably rules required record and companies sheet assets has and in for of the offsetting the unreported obligation but commitments most beginning used As financial XXXX, reporting right statement liability be know been a on on gurus of the historically lease a that had
estimate As range a lease substantially all of and change $XXX in the material our in million. we assets both will we which this be will result worldwide, liabilities to of addition facilities
from Principles. statement XXXX which this no our on anticipate first change Accepted impact be Accounting to look our cash in accounting impact to in statements. have already will income Generally no will QX get flow debt or material at changes and There our You'll arrangements this
Now I begin our will to the session. back turn our over question-and-answer call operator to
