Thanks Rich.
and from from by efficiency, reflected quarter industry strong our combination You and cash recovery on generation. remarks performance Rich’s fourth team, a and results the including continued can share, see of our cost market that
time. the to and continued third Our our that at will building gains business given we would XXXX seeing recovery we’ve OE by after quarter. the declines recover in consumer begin the expected This momentum, earlier our XXXX we that share had OE several discussed the years. started our in expectation over We fitment to than wins continue last that were gain share on
of Our dissipate. the impact last Europe customer to improve in closures actions continues our begin distribution to replacement address share improved store sequentially year’s to as impact U.S. of and the the in network
quarter. the actions to our in net impact We restructuring continued also footprint. of delivered see $XX savings million of cost manufacturing for We the
Finally, delivered liquidity. and positive flow to historically very cash improvements, and cash capital cash with quarter. one in QX, we’ve leading and working our performance strong despite for strong the pleased full the of QX for levels I’m Overall, highest our performance cash year of
in level by we’re we face enter to markets high the XXXX. continue uncertainty, we and trends as of our While encouraged in our business a
down quarter X, only year. the Turning to Slide fourth billion, our $X.X prior from were sales X%
Our decline we versus unit X% that of volume third a declined in saw X% quarter. the
year income million operating up segment for was Our $XXX the quarter million, from $XX ago. a
share: per $X.XX of After lag inventory. benefited items with and that Cost a income $XX Our will quarter. than a catch and over associated the per adjusted a inflation. from the first, a price flat second, Note a some our absorption reported these year six-month material in XXXX. establishment million offset a from million closed some $XX settlement, included raw for were last compared million $XX of three ago. of year. lower to Gadsden were third the two our material a volume the earnings an year. third overall $XX in Slide through to other chart on $X.X more quarter raw million basis in environmental prior of $XX Production segment to the excluded $XXX a mix XX compared the charge we diluted legal million, associated in overhead totaled $XX costs a increases segment operating share decrease on step QX million, change earnings coming $X.XX, adjusting income for quarters. quarter with declined costs versus million. the The compared reserve from the with closure in that utilization summarizes in up to resulted benefit to items, in consistent was million moved and ago of material up as facility. in sales The million improved $XX $XX from year was million, Recent degree savings Price fourth results. factory impact unit from reflecting Reduced operating the decline Savings
of the Brazilian of which of currency reserve and impacted the than settlement $X category more translation in our results increase includes environmental businesses benefit lower negatively South million $XX offset of the $XX weaker in America, real. currencies The establishment by driven $X other primarily tire-related million. million a million, earnings by the the legal Foreign in the other
year. $X.X $X.X on billion operating our Capital XX, in sheet during summarizes totaled million. the the net million balance flows for $XXX cash flow the debt year. Slide Slide a Free $XXX generated to cash the from of Turning activities prior were cash than totaled decline expenditures We billion, from of more and XXXX. flow quarter XX of despite about year, flow our pandemic Working the pandemic, the for million the ensuring earnings. $XXX driving and the our $XX quarter. reflect last up three and beginning liquidity approximately priority from disrupted the quarters the capital over million cash strong expectations and exceeded focus. in top year inflows fourth been prior results Since cash have that
billion XX, over we $X.X cash liquidity year total Turning the is marks to liquidity had higher Slide and and level available recent of highest XXXX million the This of at in history. end $XXX end. at than
X%, the nearly on results Replacement the in segment in X%, volume Americas business. declined was XX% decline our to improvement beginning Turning XX, consumer Slide from the an by third our unit quarter. down volume driven
the to industry. volume right drive the in sales lower trending it’s to decline in of our than so impact in it relative Wal-Mart’s centers way, in others adverse the year-over-year through was the QX auto care QX, less While continued
volume, increased OE than commercial other strength in X% Our replacement our the totaled income volume higher Segment operating million hand, up transport fleet the $XX X%. by driven industry the and for in was on Americas year. last business. $XXX or million growth
for our meaningfully year. the price Savings $XX the Gadsden year. prudence $XXX been down aviation and million quarter, with of closure remained would benefits cost legal saving to settlement reserve, associated The the segment impact the America from operating earnings and were our and the million, earnings the have in income Excluding $XX mix up the growth. prior actions and from environmental the one-time remediation of still of off-road prior contributed million
million, East explains in XX, replacement fitment X% business our auto from the volume Africa’s Turning volume. quarter. in new during unit a to impact year flat reflecting $XX.X decline sales consumer XX%, Europe, Middle and Slide OE than Lower volume totaled increased launches XX%. down ago. was Replacement essentially production more volume as the fell the several of
to driven The fleet million. Our very price continued $XX by segment raw driven income costs in momentum was replacement business performed and increase mix. $XX in material increased business. million commercial improvements operating well lower by EMEA’s our
totaled from the This replacement consumer the XX, significant business sequential units Slide period. and our to a $X.X by year in our in third quarter. improvement Turning Asia-Pacific’s to down driven prior X% compared X% volume million, which increased improvement latest the was
our during the grew While growth China business outside of volume replacement in a remained also China engine, we consumer quarter.
be $X year discontinued the China. earnings prior other continue our by lower million, business year fitments $XX year’s in affected over to Segment by from in down tire-related income quarter results operating businesses. million OE was driven Our
outlook XX, share business considerably of how recovered the a have since first we currently year, to the markets thoughts our we these during of to level quarter. some uncertainties, high uncertainty. wanted while on face Slide thinking you Turning last with to items Despite on middle the continue we’re about
First, production to overall expect volume vehicles be travelled. in softness and XXXX, with levels we miles reflecting what QX auto continued below we lower experienced will similar in
Second, we year, million X than expect our cost fixed be our production impacting last units about levels higher absorption. positively to
Third, in we see expect to continued mix. price improvements
expect assumptions. While year. the million benefit of costs our in less savings, than $XXX Based financial on to net full-year material the the several XX than be increase raw of million the would material summarizes price, raw first the half to largely Slide fourth will in quarter be cost our still quarter. of we current spot second we year-over-year $XXX XXXX, significantly lower to of our costs expect
some about expenditures a capital planned pandemic. catch-up million, which that for investments were of as result deferred the $XXX includes total Our the
our working we cash of last around XXXX. to to year capital payments of last reinvest of to year’s and the out expected pulled in reinvest half working plans year. this levels, strengthen in be Given the point, competitiveness announced expect the industry the Europe impact half similar the the in on and to need in At to we recovery footprint. manufacturing we’ll second as last capital complete U.S. inventory we are our the levels Rationalization we’ve resulting of
paying while rate our we precision. will with income, tax this of estimate to includes Last $XXX book in the this continue to We in million expect to taxes very be to quarterly XXXX. $XXX any expect deferred anticipate so million, At point, continue suspension hard persists. sensitive small COVID-XX variations from our cash dividend payments COVID-XX impact year, suspended of to we response to which and
reference several percentage on on as Slide XX spend find be presentation. in Slide the useful breakdown that impact updated most provides in in volume modeling large slides of up of Note compared of you’ll material Slide provides an Finally, raw forecasts. significantly updated an develop rim made by version consumer business our section changes XXXX volume that sensitivities, reflecting assumptions lower the costs our was commodity. diameter are The the by XXXX. XX in update significant of contains lower will prior our your overall impacted year’s percentage updated the production. our XX to tires. you industry
percentage the XX OE significant and inch in increases of notice You’ll the above businesses. in our
we’ll up the for line Now questions. open