Question-and-Answer Session
Operator
(Operator Instructions) We'll go first to Matt McCall with BB&T Capital Markets.
Matt McCall - BB&T Capital Markets
Thanks. Good morning, everybody.
Curt Pullen
Good morning, Matt.
Joe Nowicki
Good morning, Matt.
Matt McCall - BB&T Capital Markets
Let’s say, first the question, the clarification on the authorization. I think, you just mentioned that you have got $368 million left on the other authorization, is the accelerated buyback. Is that separate from the $368, is that going to reduce that $368 by $200?
Joe Nowicki
No. Matt, it's not separate. It will actually reduce to $368, when it's completed.
Matt McCall - BB&T Capital Markets
Okay, thank you.
Curt Pullen
This is a vehicle by which we do some of that, sometime.
Matt McCall - BB&T Capital Markets
Okay. Just wanted to make sure, I wasn’t double counting.
Curt Pullen
Right.
Matt McCall - BB&T Capital Markets
Help me reconcile the orders comments, I think you broke down the North American and non-North American numbers and I think they were both north of 10%, but orders overall were only up 8%? Help me understand what I'm missing?
Joe Nowicki
Yes sure, I will give you a couple, this is Joe. I will give you a couple of pieces of that probably for you. One of them in looking at some of the components are we have a Herman Miller for the Home Business. That business was slightly down from where we were year ago, so our Herman Miller of the home component was down. We also, in prior years, had some OEM business, since some OEM sales that we did. And we are no longer doing those and that was a second component that kind of went away and also like of decreased number from the components to that 8% in total.
Matt McCall - BB&T Capital Markets
Okay. When you breakout North America and non-North America, you’re excluding those but you’re excluding the impact to that when you talk about the overall order rates?
Joe Nowicki
Yes, if you look at our total order rates of the 8% increase, there are really three elements to it. The North America that’s up 10%, the non-North America that’s up 12% and the other component which is actually is down year-over-year.
Matt McCall - BB&T Capital Markets
Okay. Thanks that's take care...
Joe Nowicki
Does that help?
Matt McCall - BB&T Capital Markets
- To read the full transcript on Seeking Alpha, click here »
