As at December 31, 2021, the Company had cash and cash equivalents totaling $124.4 million (September 30, 2021 – $116.9 million). This increase was primarily due to the Company's positive cash flow from operations of $42.3 million during the quarter, reflecting a reduction of $35.3 million in working capital excluding the impact of restructuring liabilities. Additionally, the Company received proceeds of $10.2 million from the sale of the Shawcor Inspection Services business. Partially offsetting the increase were the repayment of an additional $33 million on its outstanding debt under its Credit Facility and a $9.9 million investment into growth and maintenance capital expenditures in the fourth quarter of 2021. Subsequent to the quarter, the Company repaid another $10 million under its Credit Facility, bringing total net debt repayments since the beginning of 2021 to $153 million.