So it's really the carpet industry has the biggest portion of oil-based materials. The carpet business has the largest or the carpet and the vinyl business has the largest portion of oil-based materials, but vinyl really comes from assets. Is it who knows?And then just as a follow-up on you mentioned there could be a little bit of an air pocket with home starts weakening and the subsequent flooring demand following. How are you guys thinking about those actions on the SG&A side?You're correct. Our entire global team is taking extraordinary steps to support our customers and protect our business. We are taking the right steps to manage through the pandemic, and we remain focused on delivering innovative products, exceptional value and superior service to maximize our results.”Mohawk Industries is the leading global flooring manufacturer that creates products to enhance residential and commercial spaces around the world. We are reducing SG&A, marketing and IT investments. Or was it -- I don't know if it's in productivity. Higher sales of specialty products and lower raw material prices supported our margins during the period. No, I understand. Net earnings excluding restructuring, acquisition and other charges were $146 million and EPS was $2.04.
Some countries have mandated the closure of manufacturing facilities. Please go ahead.Thanks for taking my question. Please go ahead.Thank you. Lower volume of $12 million, negative price/mix of $10 million and inflation of $8 million, offset $4 million of productivity. Thank you for taking my question. Our laminate business outperformed our other products as our waterproof collections and new introductions are increasing consumer preference for our products. Are you seeing any evidence of more severe price erosion in LVT? The virus started earlier and the lockdown was more restrictive, construction and commercial impacted more than in the U.S. Let's conquer your financial goals together...faster. Our Russian laminate business held up better throughout the quarter, although parts of the country are presently being locked down. Is that, in more states than not, a business that's allowed to open with some of these restrictions are being lifted?It's too early for us to have details of it. I wanted to ask you a little bit about the productivity and the decremental commentary you made, Frank.
I mean it could be substantially better, it could be the same or it could be worse. Basically, typically, the inventory goes up in the first quarter for the seasonal improvement that you expect. The other thing that's going to happen in the short term, given the dramatic decrease in a short period of time, even though the prices have gone down, we're buying significantly less, reducing our inventories on one side and also buying less relative to the volume we're producing. Operating income, excluding charges, was $163 million or 7.2% of sales compared to 8.5% last year. But I mean, if you remember, it was only a limited amount of money. For the second quarter of 2019, net sales were $2.6 billion, net earnings were $202 million and EPS was $2.79, adjusted net earnings were $210 million, and EPS was $2.89, excluding restructuring, acquisition and other charges.For the six months ending June 27, 2020, net earnings and EPS were $62 million and $0.87, respectively. In late March, New Zealand's government enacted a stringent lockdown, shutting our operations and retail outlets throughout April.
New Zealand’s economy is now open, the virus has been contained and our sales are improving.Since April, we have seen substantial improvement in all of our businesses and markets.
And how we should think about productivity on an annualized basis in a more normalized volume scenario in Flooring North America?Well, I think I mentioned with another caller earlier, one of the drivers for productivity as we develop these programs, cost savings initiatives, and one of the drivers is how much volume we put through. Thank you for squeezing me in here. I guess, first one, just from a higher level. They'll drive it up and down.Okay. To respond to this global event, we've established corporate segment and business teams to manage our efforts as conditions change. The so the overall business is slowing, and we're going to have to see where it ends up. We are now increasing production to meet emerging demand while protecting our employees’ health. I guess given where we are today, could you provide an update on the global supply chain today from Asia? So we the flow-through caused the loss in one of the period. Others have shut down retail and construction. In the current environment, we are reducing some fixed costs and variable costs will not decline in proportion to sales as we need to maintain capabilities for a recovery. We're taking actions to adjust to the circumstances that we're in. What do you think the productivity drag will be for ceramic and for the rest of the business?Justin, like we said a couple of times already, we're not really we've got very limited visibility right now. First question, is there a volume or a revenue decline threshold where you think you'd potentially breakeven in the second quarter? At the end of the quarter, our debt-to-EBITDA ratio was a little above 1.6 times and EBITDA to interest coverage was 32 times for the trailing 12 months. Children's Champion 2018-2020. So both of those are going to have an impact on reducing the positive impact it would have if we were buying and running at the same rates we always run. And then a longer-term strategic question. In commercial, the education and government sectors were the strongest performers in a challenging marketplace. That makes sense. The problem is that the plants will be operating at much lower levels and the offsetting negatives in the unabsorbed overhead and pieces are going to be high.Yes. Okay. AME marine energy devices are integrated with power conditioning and energy storage components to make the system a turn-key solution for our customers. Or is that sort of a stand-alone number and the reduction in operating levels is in those volume number that you gave?You'll have less productivity as your volumes go down.
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