Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from the line of Edward Aaron - RBC Capital Markets
Edward Aaron - RBC Capital Markets
On the tax rate, it looks like it accounted for about $0.08 relative to where you expected the tax rate to be, is that accurate and if so is the variance between that and what you reported on an adjusted basis, would that entirely be the impact of unexpected additional increase in costs in the quarter?
Ira Lamel
No I think $0.08 is not quite the right conclusion. If you were to take out all of the adjustment items because of the varying tax rates of those items, there’s a component of the stock compensation that’s non deductible, there are different rates for the start-up costs because its in the UK and if you just normalized what the rate would have been for the full year there was a $0.02 impact on earnings for the quarter on both a GAAP and adjusted basis. So it’s not $0.08 its $0.02.
Edward Aaron - RBC Capital Markets
The difference between the reported adjusted gross margin and the number that you used in the same brand calculation, when you talked about the 28.6 number in the press release, there’s about a 300 basis points difference there. Is that entirely the impact of Hain pure protein? Because it doesn’t seem like that could account for that much.
Ira Lamel
The reason I labeled it as same brands computation is we look at the brands we operated last year and the brands we operated this year so it takes out both Hain pure protein because of its lower margin results and it takes out the businesses that did not operate on the Hain Celestial group for the full year this year and the full year last year. So what it shows is what we’ve been able to do on a continuum with the brands that we’ve operated in the full fiscal years.
Irwin Simon
It’s an apples to apples basis. So the brands this year that we own versus the brands last year in comparing the margin last year if we owned those same brands what they were for the full year.
Operator
Your next question comes from the line of Christine McCracken - Cleveland Research Company
Christine McCracken - Cleveland Research Company
Regarding your comment that you’ve hedged it sounds like about two-thirds of your hedgable commodities, it’s just that portion of your exposure that you’re able to hedge is that accurate?
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