“it helps us with maintaining reasonable fit GILTI rates, which is important to us, helps us maintain our effective tax rate in the 20% range, which is what we had anticipated and hoped for.”

In context

“. SIBG and CPG will definitely do better. TEBG a little bit lighter because of the stranded cost that you pointed out, but the productivity is flowing through well there. Andrew Kaplowitz: And Bill, I think it might be helpful to hear about your thoughts on the fiscal environment here in the U.S. Maybe a little bit of color on how is thinking about the big beautiful bill. I think it does put money in industrial companies pockets, given bonus depreciation, et cetera, but it doesn't seem like you're reacting to it at all. Is it just too early? How do you think about it, how might companies react to it moving forward? William Brown: So it's a good question. It's a very broad question. I think specifically to the tax bill, it's favorable to us. It's favorable to other companies. In the sense, it helps us with maintaining reasonable fit GILTI rates, which is important to us, helps us maintain our effective tax rate in the 20% range, which is what we had anticipated and hoped for. So it maintains where we happen to be. It's good news because it could have gone the other way. Bonus depreciation and the R&D expense doesn't really work for us for the next couple of years because of the some of the PWS costs and other things. But that will help us in the out years. But right now, Filtrete rates hovering around -- maintain around 14%, which I think they made permanent. -- is good news for the company for sure. So I won't comment on any relative fiscal environment, but that's certainly, from a tax perspective, help for the company. Operator: Our next question comes from the line of Joe O'Dea with Wells Fargo. Joseph O'Dea: Just wanted to make sure I just want to make sure I'm thinking about the back half organic constructs across the segments. -- where if there's roughly”