This is providing a strong foundation for continued growth and long-term value creation for our shareholders." Adjusted Free Cash Flow and Liquidity Net cash generated by operating activities in second quarter was $378 million, an increase of $125 million from second quarter 2023 and adjusted free cash flow was $333 million, an increase of $106 million from second quarter 2023. Second quarter 2024 adjusted free cash flow performance was driven by higher adjusted operating profit and improvement in working capital management which were partially offset by a $19 million increase in capital expenditures to support growth. Liquidity was $1.2 billion and borrowings under our ABL credit facility remained at zero at the end of second quarter 2024. Net leverage at the end of second quarter 2024 was 1.8x, within Vertiv's target net leverage range of 1.0x to 2.0x.