Question-and-Answer Session
Operator
Thank you. (Operator instructions) We’ll pause for a moment to give everyone an opportunity to signal. We’ll go first to Timna Tanners of UBS.
Timna Tanners – UBS
Hi. How are you all doing?
Jack Hockema
Good, Timna.
Dan Rinkenberger
Good, Timna.
Timna Tanners – UBS
I apologize in advance because I know that you have a lot of detail in your slides. And I’m sure there’s more in the queue, but a few things that I missed and I know they’re probably in there. Can you talk to us about your cash tax rate and how many shares you might have bought back in the quarter?
Dan Rinkenberger
Sure. Cash tax rate, I think that’s going to be, basically, the same as zip code as where we had been before. The cash tax isn’t primarily the foreign tax and as well as the little bit of US state taxes or AMT. It’s not going to be much different than where we’ve been before. And it’s probably single-digit percentages.
Timna Tanners – UBS
Okay. I thought maybe with the less Anglesey it might be a little lower, but maybe 10% or a little lower than that.
Dan Rinkenberger
Well, I see your point. So the effective tax rate of 42% is lower. That’s really because of lower statutory taxes this year in both the UK and Canadian jurisdictions.
Timna Tanners – UBS
Okay. All right. Then did you buyback shares in the second quarter?
Dan Rinkenberger
We really don’t want to comment, and won’t comment on the program. In the second quarter, I guess, the fair point is – I mean to answer your question, we haven’t because we didn’t launch it, and wouldn’t launch it until the first part of July as the minimum.
Timna Tanners – UBS
Okay. You don’t want to talk about the criteria that you’re thinking for buying back shares.
Dan Rinkenberger
We actually, are just going to be looking at that in context of all the rest of the cash applications that we may have and the requirements.
Timna Tanners – UBS
Okay. SG&A went up a bit for the quarter. Can you talk to us about how you’re seeing that progress?
Dan Rinkenberger
Well, SG&A, when you say went up for the quarter, you’re probably looking at consolidated SG&A.
Timna Tanners – UBS
Okay.
Dan Rinkenberger
That’s the combination of both the SG&A that we talked about in the corporate segments on slide, probably, 17, as well as G&As that’s within the business unit for fabricated products. Fabricated products, we have shown some increase there as we’re going to business. And we’re probably – that’s not going to be unexpected. Within corporate, especially if you look at the cash G&A, that’s a decline on the first half.
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