What was the company's capital expenditures for the 2019-Q4 period
here is a tremendous uncertainty now in the near term with respect to the global economy, but especially our economy here in the United States because of this virus. So I can't pretend or begin to anticipate what that might mean for us. But setting that aside, I believe that we have today adequate capital to continue to invest organically in the company's business -- inorganically, I'm sorry. Okay. I'm going to get to that. Continue to invest organically in the business.
Asked for inorganic. About 15 months ago now, we made a conscious decision to develop a corporate development function, which as evidenced by the acquisition of FSE was -- I think a wise investment and a successful investment. We're very, very happy with, with the first source electronics. We -- notwithstanding you know the downturn here in the markets and the contraction in the company's business somewhat, we intend to -- tend to continue to make this investment in corporate development to explore inorganic activities. If we are so fortunate as to find the right opportunity with the right set of products, the right customers, the right cash flow profile, we will consider how best to finance that opportunity at that point in time. Of course, it will depend on the capital markets, the construct of the cash flows, etc. etc., but I believe that if we find the right, the right opportunity, the right fit for our company, the right set of cash flows and if the capital markets are open I think that we have a fair shot at getting it financed. And so we're going to continue to pursue corporate development opportunities.
Chris Howe -- Barrington Research Associates -- Analyst
Thanks, Tim and, Pat. Appreciate all the color. I'll hop back in the queue for now. Thank you.
Operator
Our next question comes from the line of Mike Shlisky from Dougherty & Company. Your line is open.
Mike Shlisky -- Dougherty & Company, LLC -- Analyst
Good morning, guys.
Patrick Miller -- President, Chief Executive Officer
Hi, Mike.
Mike Shlisky -- Dougherty & Company, LLC -- Analyst
Hey there. I was wondering if you can give us a sense of the seasonality, you think of the truckload schedules in 2020, perhaps maybe just in general and then also, have you seen any changes in the last few weeks or so and the order patterns or the build schedules based on the COVID-19 situation?
Patrick Miller -- President, Chief Executive Officer
You know as far as our expectation, initially going into the year 2020 for truck builds were that there was going to need to be some correction in the builds which unfortunately started in earnest in the fourth quarter and continued in early in the first quarter and we -- our expectation, and they were communicating clearly were to reduce build rates down to lower daily build rates and allow us to align our daily build rates with theirs. That has -- the intent was to correct the inventory levels and whatnot resulting from lower order rates and so that is really how we expected the year to proceed and clear about the second half of 2020, but that's how we expected the first half.
And you know there haven't been any large impacts related to the COVID virus from the North American truck build at this stage that we've seen related to order patterns. So the orders have been a little bit erratic in the first quarter, but not related to anything other than correcting for the market dynamics. So I think that is -- that is to be seen. I mean obviously to have been changing daily here over the last week or two in North America and we will adapt as required to what their needs are. Globally, interestingly, we have continued to see orders along the ways that we have planned in our other operations, which are support a couple of different other industries in addition to some of the commercial trucking but as well as construction and others. So -- so far we've not seen any knee jerk reactions. Now what's going to happen over the next few months and few weeks, you know, is uncertain.
Mike Shlisky -- Dougherty & Company, LLC -- Analyst
Okay. Wanted to just switch over quickly to so
here is a tremendous uncertainty now in the near term with respect to the global economy, but especially our economy here in the United States because of this virus. So I can't pretend or begin to anticipate what that might mean for us. But setting that aside, I believe that we have today adequate capital to continue to invest organically in the company's business -- inorganically, I'm sorry. Okay. I'm going to get to that. Continue to invest organically in the business.
Asked for inorganic. About 15 months ago now, we made a conscious decision to develop a corporate development function, which as evidenced by the acquisition of FSE was -- I think a wise investment and a successful investment. We're very, very happy with, with the first source electronics. We -- notwithstanding you know the downturn here in the markets and the contraction in the company's business somewhat, we intend to -- tend to continue to make this investment in corporate development to explore inorganic activities. If we are so fortunate as to find the right opportunity with the right set of products, the right customers, the right cash flow profile, we will consider how best to finance that opportunity at that point in time. Of course, it will depend on the capital markets, the construct of the cash flows, etc. etc., but I believe that if we find the right, the right opportunity, the right fit for our company, the right set of cash flows and if the capital markets are open I think that we have a fair shot at getting it financed. And so we're going to continue to pursue corporate development opportunities.
Chris Howe -- Barrington Research Associates -- Analyst
Thanks, Tim and, Pat. Appreciate all the color. I'll hop back in the queue for now. Thank you.
Operator
Our next question comes from the line of Mike Shlisky from Dougherty & Company. Your line is open.
Mike Shlisky -- Dougherty & Company, LLC -- Analyst
Good morning, guys.
Patrick Miller -- President, Chief Executive Officer
Hi, Mike.
Mike Shlisky -- Dougherty & Company, LLC -- Analyst
Hey there. I was wondering if you can give us a sense of the seasonality, you think of the truckload schedules in 2020, perhaps maybe just in general and then also, have you seen any changes in the last few weeks or so and the order patterns or the build schedules based on the COVID-19 situation?
Patrick Miller -- President, Chief Executive Officer
 You know as far as our expectation, initially going into the year 2020 for truck builds were that there was going to need to be some correction in the builds which unfortunately started in earnest in the fourth quarter and continued in early in the first quarter and we -- our expectation, and they were communicating clearly were to reduce build rates down to lower daily build rates and allow us to align our daily build rates with theirs. That has -- the intent was to correct the inventory levels and whatnot resulting from lower order rates and so that is really how we expected the year to proceed and clear about the second half of 2020, but that's how we expected the first half.
And you know there haven't been any large impacts related to the COVID virus from the North American truck build at this stage that we've seen related to order patterns. So the orders have been a little bit erratic in the first quarter, but not related to anything other than correcting for the market dynamics. So I think that is -- that is to be seen. I mean obviously to have been changing daily here over the last week or two in North America and we will adapt as required to what their needs are. Globally, interestingly, we have continued to see orders along the ways that we have planned in our other operations, which are support a couple of different other industries in addition to some of the commercial trucking but as well as construction and others. So -- so far we've not seen any knee jerk reactions. Now what's going to happen over the next few months and few weeks, you know, is uncertain.
Mike Shlisky -- Dougherty & Company, LLC -- Analyst
Okay. Wanted to just switch over quickly to so