GPC
#Thank you
I will take comps first and then let <UNK> address your first question.
As we are identifying and defining comps, <UNK>, we're excluding new stores, new branches.
[Where] branches closed over the past 12 months and we're also excluding acquisitions.
You specifically asked about FX in the quarter for the non-automotive.
There was virtually no FX impact in the quarter, it was just negligible.
And the acquisition impact in the quarter ---+ it was around 2% for automotive and it was around 4% for industrial.
And it was around 11% for office and then electrical was 1%, so in total they were about 4%.
That is a great question, <UNK>.
I will say that we have a robust acquisition pipeline and really across all four of our businesses and as I think I mentioned earlier, in all of our geographical regions.
I think what we're seeing is that in some parts of our business, when we do an acquisition and I'll point out one that we did in industrial with the acquisition of Braas in Q3 of last year.
What that brings us is additional players in that space.
When they see that GPC is, one, that we are inquisitive and two, that we are a good partner.
We have more and more some of these folks coming to us as opposed to us tracking them down.
We feel good about our prospects for 2017.
I'll mention ---+ we did mention earlier, we did 19 acquisitions last year.
I don't know that will be at that level of activity but we certainly expect to be to be active again in 2017.
You bet <UNK>.
No.
What we're seeing is has been fairly typical in recent years <UNK>, the pricing across the marketplace is rational.
We're not seeing ---+ and our supplier partners are partnering with us as they always have.
We're not seeing any significant shifts there either.
I would say its probably premature.
It's early to have discussions with suppliers about what changes they are going to be making and what changes we will be making.
I think we're all taking a bit of wait and see, to see what ultimately happens.
I think, as we think about this, what amount is going to be borne by the supplier and what amount borne by us, what amount passes on to the customer.
I think in theory, a lot of this is probably going to end up being passed along to the consumer and in terms of inflation and what we see in the cost of products.
But we have not started ---+ again it is early to be having discussions with what changes may happen in the supply chain.
But know, that we will work with our suppliers and hopefully come up with the best solution that we can.
Thank you <UNK>
We want to thank you for your participation in the call today.
As always, we thank you for your support of Genuine Parts Company and we look forward to reporting to you in Q1.
Thank you.
