“Look, I think we're in danger of exaggerating the impact of the 25% increase in the aluminum price relative to the total system. It's not insignificant, but it's not going to radically change a multibillion dollar U.S. business.”

In context

“rough in price. Even though we look to execute all our affordability strategies, we have to pass through the costs in those sorts of environments because it's just too overwhelming. Operator: [indiscernible] question comes from Robert Moskow from TD Cowen. Robert Moskow: I wanted to maybe push a little bit more on your commentary that you can -- you change your mix of packaging to react to aluminum tariffs or higher aluminum costs. Is there any way to kind of delineate this, like how much of a mix shift is necessary to go more toward plastic, less towards aluminum cans in the event of a sharp increase in can cost. It may not be a fair question, but is a 1% change in mix big enough to really influence the cost structure? Or does it have to be something much bigger than that? James Quincey: Look, I think we're in danger of exaggerating the impact of the 25% increase in the aluminum price relative to the total system. It's not insignificant, but it's not going to radically change a multibillion dollar U.S. business. And packaging is only -- is a small component of the total cost structure. So firstly, it's not a multimillion dollar -- billion dollar problem relative to the input cost. It's a much more manageable number. And so between mitigation of supply chain, sourcing, weights of the cans, price increase of the cans at some level potentially switch to the [indiscernible]. It's a manageable problem in the context of the total U.S. business. And I don't think we should -- you should not conclude that this is some huge swing factor in the U.S. business. It's a cost. It will have to be managed. It would be better not to have it [indiscernible] the U.S. business, but we are going to [indiscernible]. Operator: Our next question comes from Michael Lavery from Piper Sandler. Michael Lavery: Just wanted to”