But we feel good with where the momentum is relative to that and where we’re going to land for the first half of our fiscal year. In terms of the M&A environment, that’s again largely unchanged. There’s things that are active out there. Some things are more interesting than others. The Schaffner deal because it was a Swiss public company it was announced early on and we got that across the finish line here in December. But there’s a lot of other things that are more private in nature that are going through various processes that you know again things that we have to make sure that it’s the right strategic fit for us that we’re the right owner for it even if it fits our strategy and then that the numbers work. And at any given time, you probably expect us to be looking at about a half a dozen deals.
Not all of those get close to the finish line. So but it is an active environment we have seen as we’ve moved through the count, moved across the threshold in the calendar year that activity is starting to pick up some. So, I’d like to be able to think that we can get another deal or two done in our fiscal year. But as always, you have to stay tuned.
Sujal Shah: Okay. Thank you, Asiya. Can we have next question, please?
Operator: We have no further questions at this time.
Sujal Shah: Okay.
Operator: I do apologize. We do have one final question from Mr. Colin Langan from Wells Fargo. Please go ahead with your question.
Colin Langan: Great. Thanks for taking my question. Just one follow-up, you didn’t talk about tax. I think you mentioned on the call the rate is about 21% going forward was a bit higher than you’ve seen historically. How should we think about that going forward? Is that a permanent rate, is that impacting some of the changes on global minimal tax or can that be kind of brought down over time?
Heath Mitts: Well, Colin thanks for the question. The change from our original guided rate last quarter was went into our fiscal year of 20%. We’ve increased that to 21% and that was very specific to the Swiss tax rate going up sooner than what we had anticipated. And so we have to absorb that and put it through our financials as well. As we move forward there’s a lot of moving parts relative to the global minimum tax that different jurisdictions will be enacting at different time periods. Some of those are more meaningful than others. There’s tax planning that you would expect us to have underway that we would think about not just from how things that we can do to work down our ETR but also probably more importantly how do we protect ourselves from the cash tax rate.
And so there’s nothing to report there today because there’s a lot of unknowns out there. But there’s a lot of activity underway to try to anticipate and look around the corner there. So, to answer your question I think 21% is a good rate to work on going forward and we’ll continue to work to mitigate any pressures.
Sujal Shah: All right. Thank you, Colin. Thanks, Colin. We appreciate everyone joining us this morning, if you have additional questions, please contact Investor Relations at TE. Thanks again, and we hope everyone has a nice day.
Operator: Thank you. Today’s conference will be available for replay beginning at 11:30 A.M. Eastern Time today, January 24th, on the Investor Relations portion of TE Connectivity’s website. That will conclude the conference for today. You may now disconnect.
