“Yes, that's a really important point. And I think, as Carol mentioned, we are purely a pass-through, so we don't expect that this will have an impact on our financial statements.”

In context

“w that the tariffs have been deemed refundable, we are working with the Customs Border Protection to apply for those refunds. Our approach is to work with the U.S. government and not to sue the U.S. government. We have applied for the refunds pursuant to the guidelines from the Customs Border Protection. Interestingly, they are not going first in, first out, but actually last in. So it's for the tariffs that have happened this year. For us, it means applying for tariffs for 2.5 million entries, a little under $500 million. We are making those applications started on April 20. We are making those applications today. We think it's going to take some time before the treasury remits money to us. But as soon as we get that money, we're going to remit it right back to our customer. Brian Dykes: Yes, that's a really important point. And I think, as Carol mentioned, we are purely a pass-through, so we don't expect that this will have an impact on our financial statements. Operator: Thank you. I will now turn the floor over to your host, Mr. PJ Guido. PJ Guido: Thank you, Matthew. This concludes our call. Thank you for joining, and have a good day.”