“And for the second half of the year, I don't expect either of those two to be as strong. So I do think we'll have a little bit of deleverage in the second half of the year but modest, not a significant variable for your consideration in the second half of the year.”

In context

“thinking about longer term? Or is what we see in the quarter maybe more just a matter of timing? I also, John, if I could, I just want to loop back to a question I asked last quarter on below-the-line dynamics. You came into the year talking about below-the-line deleverage, interest expense and so on. We haven't seen that again this quarter, especially with the lower tax rate. So I'm just curious if that has changed in the full year and is that factored in to the full year guidance raise. Thanks for both. John Murphy: Steve, let me take the second piece first. It's fairly straightforward. In the quarter, we benefited from higher equity income and from interest that we earned on our overseas cash, which was in both cases ahead of what we had assumed when we guided at the start of the year. And for the second half of the year, I don't expect either of those two to be as strong. So I do think we'll have a little bit of deleverage in the second half of the year but modest, not a significant variable for your consideration in the second half of the year. James Quincey: Yeah, back to the margin element of the question. North America, in a way, is a fluid side of what we just talked about in Asia Pacific. Obviously, the results came in very strong in North America on the top line and on the margin. Again, there are a number of timing factors that kind of flatter the second quarter margin structure in the case of North America, including, for example, the -- a bit like the Costa UK bit as it was a much faster growth rate in the Away-From-Home than the At-Home in the North American marketplace. And obviously, that's margin accretive. That should be seen as, in a way, more completing the play of the recovery versus COVID. So the completion of the reopening of restaurants, cafes, theme parks, et cetera, et cetera. And so that channel mix, if yo”