“We assume in our forecast in our guidance, spot prices for both the commodity basket and for transportation and warehousing... we don't assume any easing in terms of transportation and warehousing or commodity cost impact or foreign exchange for that matter.”

In context

“I think from your margin bridge it implies that you've already absorbed around 1.7 billion in the front half. So in other words, you're expecting a billion or less in the back half. And we should therefore expect a price cost surplus to emerge. I want to make sure I had all my math right on that at least directionally. And then the second part, you've clearly had to revise your commodity and freight outlook up the last few quarters. Remind us again, what the current commodity outlook is predicated on, so that we can get a proper sense of what the upside downside risk are to that? Thank you. Jon Moeller: Yes. Good morning, Jason. On the commodity and transportation warehousing timing, yes, I mean, I assume your math is right. I won't check it here. But we can certainly follow up as needed. We assume in our forecast in our guidance, spot prices for both the commodity basket and for transportation and warehousing. We've seen increases still in this last cycle as reflected in the increase in commodities and transportation and warehousing. But we're also seeing a slower rate of increase. So hopefully, meaning that we reach the peak here soon. But we are building our financial forecast and all financial planning on that level. So we don't assume any easing in terms of transportation and warehousing or commodity cost impact or foreign exchange for that matter. Operator: Next question will come from Robert Ottenstein with Evercore ISI. Robert Ottenstein: Great, thank you very much. I was wondering if you could give us some sense of how you assess your revenue management skills at this point. Clearly, the results would suggest they're pretty positive. But, we'd love I'd love to understand some maybe some of the changes that you've done over the last few years to improve your ability to manage an inflationary environment. If in fact, yo”