Jeff?Thank you, Frank.

On the other side, ceramic has a large use of natural gas in it. Fixed assets ended the quarter at $4.473 billion. We have no idea.Right. The decline year over year was primarily due to lower volume and shutdowns attributable to Covid and unfavorable price and mix, partially offset by actions to reduce cost across the business. We have an exceptional team of people at all levels of the business, and I am proud of how they have balanced keeping one another safe with meeting the needs of our customers.For the period, our Global Ceramic segment sales were $848 million, a decline of almost 6% from last year or 2% on a constant days and currency basis. My first question is just going back to the raw material discussion. And so with that, it's also difficult to understand what the present level of the industry is because you're seeing the imports come in based on purchases from months ago, and you really don't have sight of what the present sales are in consumption.Got it. One is that it's a higher ticket price than some other categories. And I would say, the ceramic segment is the higher of the two the three segments there with fixed cost.Okay. One more piece to enter into it, our polyester is manufactured from recycled bottles and the recycled bottles are not moving down in proportion with the gas prices, oil prices.Right.

When they banned the travel, the engineers didn't, but we're still making progress. The ruble of U.S. tariffs from Chinese click LVT lowered market prices for those products. What I would say is that the U.S. ceramic business has been impacted less due to a higher percentage of new residential and commercial projects. A major update to many of our product lines is being well accepted. I wanted to jump into the price/mix issue. And then since you discussed shipping product from inventory in the places where there were mandatory shutdowns, I guess to what extent were you actually able to fulfill customer orders in those places? Some near-term factors represent a potential upside, including historically low interest rates, rising remodeling activity, consumer discretionary funds being shifted to home improvements and increasing home purchases.

So we get it there.

We are lowering production in the second quarter to reduce inventory with decline in demand.Our European ceramic business was performing well until the Coronavirus stopped travel in Italy, and the government shut down our manufacturing. Was curious if you could tell us how your thinking evolved there. Our flexible and rigid LVT sales improved as we progressed through the period as retailers re-opened in our key markets. But what's the outlook for commercial a couple of months out?The same thing.

Today, we'll update you on the company's first quarter results.I'd like to remind everyone that our press release and statements that we make during this call may include forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, which are subject to various risks and uncertainties, including, but not limited to, those set forth in our press release and our periodic filings with the Securities and Exchange Commission. Okay. Favorable productivity of $38 million and lower inflation of $12 million were offset, declining volume of $31 million and lower price/mix of $28 million. The click tile production is ramping up, and we're expanding our higher quartz countertops.Okay. The problem is that the plants will be operating at much lower levels and the offsetting negatives in the unabsorbed overhead and pieces are going to be high.Yes. Is that, in more states than not, a business that's allowed to open with some of these restrictions are being lifted?It's too early for us to have details of it.

This is Trevor Allinson on for Truman. Given this environment, some of our manufacturing operations have completely shut down while others are stopping and starting to align with regulations and reduced demand. With no other maturities in 2020, we have liquidity to manage through and strengthen our position when the economy recovers.Thank you, Jeff. Good morning, everyone, and welcome to our first quarter investor conference call. It has since gotten up to close to where it was before, but now you have declining business trends in the United States. So wondering if maybe it's reasonable to think that, that overall shutdown number is going to be more than double what it was in 1Q as we look into 2Q.Well, first, just to maybe put some fencing around the discussion about decremental margins. Or is there something else that led to such a eye-popping improvement?LVT was one of the pieces, and it did have significant improvement in the period.Your next question comes from Truman Patterson with Wells Fargo.

Thank you for taking my questions, just back on the North America productivity, the $29 million, how much of that was related to those LVT rebates that you disclosed last quarter?

(MFTranscribers) At this time, I would like to welcome everyone to the Mohawk Industries First Quarter 2020 Earnings Conference call. This call may include discussion of non-GAAP numbers. The question is, what are the consumers going to do?Okay. Given this, in the second quarter, our decremental margins could range from 35% to 40%, and we anticipate a loss in the quarter.Other expense was $6 million. The Australian market has largely recovered, and we are seeing improved residential carpet and hard surface sales.

Due to closed retail stores, we are postponing the introduction of our next-generation LVT until the fall.In the first quarter, our sheet vinyl business delivered good growth due to exports outside the region and higher volumes in Russia. So both of those are going to have an impact on reducing the positive impact it would have if we were buying and running at the same rates we always run.

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