David Manthey: Okay. Fair enough. What percentage of ES segments sales would you say are capital investments versus expense items for your customers? I know there’s a number of different verticals within ES and there’s probably different expense capital dynamics there.
Neil Schrimsher: Yes. That’s probably another one. Just for pure CapEx I don’t think we’ve talked about individually. I would say that it is going to be lower in our Service Center segment. And then I think the places that it would show up for us would be around flow control in some of those projects and then perhaps around the automation systems less in fluid power given some of that work is supporting OEMs and their equipment that they are taking forward to the marketplace in that. So those are the places I’d say overall, Dave, my view is there’s not such a capital project reliance or input into the business that impacts it through on the service centers are really heavily across the Engineered Solutions side of the business.
David Manthey: Okay. Thanks for that. And then last question on inflationary pressures, and I hope this is understandable. But when you think about the ratio between your COGS inflation and the sort of potential benefits there and then the SD&A inflation that you’re experiencing and the negatives there, is there any significant difference in that, what I would call a spread between those two things? I’m just meaning are the inflationary pressures that you’re experiencing as a company more intense, less intense, or the same as they were relative to the inflationary pressures that you are enjoying, I guess on the top line?
Dave Wells: Yes. Let me see if I can answer at well, a couple ways or a few areas of the consideration. I think overall and in the quarter, I think we touched on, right. From a price cost standpoint, I’m pleased, right, slightly positive in that side. I think across our business and the operating teams, we’re very mindful on the inflationary inputs to our operating side of the business and how we help ourselves in use of technology and other tools and shared services and such that can help us. And the investments that we talk about are really going to be in engineering talent and forward facing resources that can help with customers and customer solutions into that side. So I think overall, we are doing an effective job at the pricing to value and recognizing the importance of our solutions, especially at either an engineered solution or at the break fix time.
And with that, we’re also, as we shared on our SD&A results, doing a nice job of cost containment, it’s showing up in some different areas of that kind of cost stack. But I’d say all in all, we’re mindful of that. We see it coming and are working on the appropriate offsets.
Neil Schrimsher: I just remind you too, Dave, the times we don’t – you see a bit of a lag in terms of when you see that read through is price realization specifically, especially as it pertains to some of the activity with some of our larger national accounts where there are those contractual arrangements, we’ve got vendor agreements because they want to participate with us in that business to absorb. And there’s other mechanisms so that we’re still able to grow margins during those inflationary periods even during the time where we’re not able to pass on a price increases. So there’s other mechanisms not coming through as price, day one, but where you’d see that offset before we’re able to pass this price increases on. So may not be a one for one in terms of when it hits the top line read through versus the impact on COGS and SD&A.
David Manthey: Got it. All right. Thanks guys.
Operator: At this time, I’m showing we have no further questions. I will now turn the call over to Mr. Schrimsher for any closing remarks.
Neil Schrimsher: I just want to thank everyone for joining us today and we look forward to talking with you throughout the quarter.
Operator: Thank you. Ladies and gentlemen, this concludes today’s conference call. Thank you for participating. You may now disconnect.
