David MacGregor: Good morning, everyone. Jeff, just a question on the Commercial business here. How are you thinking about your competitive position in North American commercial flooring? And do you see sustainably better flooring fundamentals in this category and therefore, you invest more aggressively to gain share? Or do you attribute the relative strength you’re seeing in Commercial to just timing and the typical lag of the categories to start showing behind changes in Residential and therefore, you kind of go forward with what you have. Just curious on how you’re thinking longer term about capital allocation in the Commercial Flooring.
Jeff Lorberbaum: We’ve been supporting the Commercial business with both products and capacity to satisfy the demand that we think we have, and we haven’t been restricting it. Typically, in these cycles, though, as we talked about Commercial is the last thing to fall off, this is really an unusual cycle because you — typically all categories are in lower shape. In this thing, you have the hospitality that’s doing really well at the moment where other categories are doing really poorly, the airline business is doing really well. We provide airline carpets. I mean, this is a really unusual environment that we haven’t seen in prior cycles. We’re going to have to see how the whole thing works out, but we continue to invest in the Commercial business. We have strong relationships. We have a broad product offering, and we’ll continue to do so.
David MacGregor: Okay. If I could just ask a follow -up, really, just trying to calibrate here. Within your first quarter guidance, what do you assume for U.S. Residential for industry unit growth?
James Brunk: It depends if you’re looking year -over-year or sequentially. So sequentially, we would expect the volume to improve generically across the business from a sales volume perspective, but certainly, year -over-year, it’s going to be under pressure.
Jeff Lorberbaum: It will be significantly below last year.
James Brunk: Yes. Year-over-year going to be significantly below because remember, this time last year, we were still in a very hot market.
David MacGregor: Right. Yes, I think you discussed that previously on the call. I’m just trying to get some sense of what maybe quantitatively you’re looking for, so we can calibrate against the guidance.
James Brunk: I don’t really have a good number to give you just on specific on residential units.
David MacGregor: Okay. Thanks very much, gentlemen. Good luck.
Operator: This concludes our question-and-answer session. I would like to turn the conference back over to Jeff Lorberbaum for any closing remarks.
Jeff Lorberbaum: Thank you very much for joining us. We are in a strong position to manage through this period. It’s going to be slower for the near term, and we’re continuing to invest to optimize the long -term results, and we think we’re in a very good position to improve our business as we come out. Thank you very much.
