$LEG Crisis response team managing health and safety issues and a comprehensive plan for safe and productive long-term operation
Sales remained at weekly average levels that were consistent with 2019 through mid-March; rapid declines in last two weeks of first quarter have stabilized through the first three weeks of the second quarter and are currently at approximately 55% of average levels
Aggressive cost reductions; aligned variable cost structure to current demand levels; eliminated non-essential expenses; expect full year fixed cost reduction of $130ꟷ$150 million
Liquidity, as of March 31, of $734 million; $506 million of cash and $228 million in available capacity under our commercial paper program, backed by a revolving credit facility
Reduced full year capital expenditure budget by over 60% to $60 million; halting acquisitions; remaining 2020 debt maturities of $37.5 million with no significant debt maturities until August 2022
Dividend decision to be made at May Board meeting based upon impact from evolving economic conditions
2020 guidance suspended, as previously announced on April 2nd