Amol Chawwal, Senior Vice President and Chief Financial Officer, Waters Corporation: Yeah. So Puneet, a couple of things. I'd like look. Our gross impact is 45,000,000, and and most of that shows up in the second half of the year, primarily because in q two, you have some inventory. But our teams did an excellent job of bringing more inventory and stockpiling before the deadlines.
And that partly is also the reason why the cost associated with that was the drag on our q two gross margins. But then sort of second half is pretty clean and can be extrapolated into the future. Within that, if you say within the '45, roughly 15,000,000 is offset with surcharges. Roughly 14,000,000 is manufacturing cost actions, that are largely on a landing mode. I mean, the actions that we have embedded in our guide are pretty much on the landing mode at this point.
So we feel pretty comfortable there and roughly 6,000,000 is discretionary spend management. In terms of your other question on IP and so it does affect, right, because at the end of the day, where you are manufacturing, you have an IP there, so you are bringing the product into another domicile at a certain transfer price. You can't change those transfer prices very easily without sort of moving, the IP in the first place. So the 45,000,000 exposure that we outlined includes all of that impact in it. Again, there are more moves sort of planned that will go live at the beginning of next year, which will allow us to completely offset the impact as we go into '26