Yes. They've learned to hedge over the years, but there were structural differences up until maybe 10 years ago. We were dealing with a 62¢ to 65¢ Canadian dollar and lots of Canadian final assembly production. Then the world fell apart. Now everybody understands that if you're going to survive, you have to hedge. It's not just hedging on currency, but also hedging on footprint. There are a lot of strong Canadian companies that supply their customers from U.S. plants and Mexican plants, so they have all their other input costs like labour in that domestic currency.
On March 12th, 2015. See this statement in context.