Tony Trunzo: But there’s you know we feel like there’s potential $150 million of cash that can be released from P&S inventory as we get down to that 70 day level.
Jay Geldmacher: Exactly.
Unidentified Participant: Okay, thank you. And then just one quick follow-up question. I know we’re seeing the benefit of the pricing actions taken entire quarters. And you guys talked about some further cost actions as we look to the rest of the year. But how should we think about additional pricing power as we look into the back half of the year? Is there any room there or do you kind of expect phase levels to hold?
Jay Geldmacher: Well I guess the good news is, we have seen pricing hold by and large which we expected but that’s definitely been the case. In terms of additional pricing actions, it’s going to be pretty limited obviously have soft volumes you know the market dynamics of that the inflationary pressure that drove a lot of price increase have abated. So our outlook doesn’t contemplate meaningful additional price action at this point.
Unidentified Participant: Okay, thank you.
Jay Geldmacher: Thanks, Maya.
Tony Trunzo: Thanks, Maya.
Operator: Your next question comes from the line of Brett Kearney with Gabelli Funds. Your line is open.
Brett Kearney: Hi, guys. Thanks for taking the question.
Tony Trunzo: Of course.
Brett Kearney: The First Alert was you know a strong point in the quarter. Just curious can you provide more color on some of the initiatives you’ve been executing there for deeper penetration of the builder channel? And also maybe potential for broader pull through other parts of the Resideo portfolio into that channel over time?
Tony Trunzo: That’s great question and you’re right. We had some really nice wins with the – in the R&C channel with First Alert. We’ve added several exclusive agreements with pretty meaningful homebuilders and that’s added to our content. Our R&C went up about 15% in the quarter and there’s real momentum there. There’s definitely more to go with respect to First Alert, but your question about pull through is super important, because those First Alert products gave us entrée and sort of a right to engage with the homebuilding community in a broader and deeper way. And I would say we’re just underway with some of the momentum that would be related to that. It’s given us an entrée much in the same way as it has in retail where we were President in retail, we’re very pretty good we thought that retail, but you know they work at different level and we really get the benefit.
Jay Geldmacher: And I would agree, I’d add couple of things that’s increased our content with that edition and the fact of our brand if I just talk about our brand ambassador program that deals a lot with the R&C market as well as other places but the R&C in particular and so we had new wins have been able to – we generated there with the expansion of First Alert products with that. So it’s really got some great pull through as well as we continue to expand our total ecosystem and what we can offer as part of the content, we can tie things in with smoke and CO and then it gives all our from a technology standpoint other opportunities of what we can add to products as we move forward.
Tony Trunzo: And operator, if I may. Apparently we answered an asked question by Maya, when we were talking about our inventory levels. See I think the question was really on channel inventory and when we would see the channel inventory levels begin to normalize. And I would tell you that our outlook – their outlook similar to what I said with respect to our own inventory, our outlook for – our expectation is that channel inventory does not go down meaningfully in Q3. It’s a little hard to tell what’s going to happen in Q4. But you had meaningful declines in sell through which is you know even through dollar inventories may be coming down a little bit. The days are going up, because the sell through and the volumes are still negative.
