Tom Salmon: Yes. Berry is in a unique spot right now. There’s no large-scale acquisitions that we have to do to create scale. The real focus is on how we ultimately utilize bolt-on acquisitions as a means to accentuate organic growth. We clearly believe that some of the more attractive markets that we’ve articulated in the past, like health care, pharmaceutical dispensing solutions, sustainability solutions are all right not to mention, at least of which in €“ growing our access to emerging markets. So, while we just recently announced a greenfield site in Bangalore, clearly, at some point, it will provide the opportunity for bolt-ons to complement that health care and pharmaceutical to take advantage of that growth. And again, all that can be supported by €“ as we look €“ as I just mentioned, we look inside our own portfolio, having opportunities to dispose of pieces of that €“ of the portfolio today that could be better utilized by others can allow us to deploy some of those proceeds against those objectives.
That’s why, as Mark said, it’s a balanced approach. We really believe we can operate the company at a lower leverage range, we can continue our balanced capital allocation between buybacks and dividends, and we continue to invest in organic growth to reaffirm our commitment as growth as a priority for us.
Kieran De Brun: Great. Thank you. And then just maybe a quick follow-up on China specifically, I mean it seems like the rebound in China has been gradual throughout the first quarter. I’m just curious on your thoughts on what you’re seeing? Are you seeing kind of that acceleration post the Chinese Lunar New Year? Is it something that you still expect to, kind of gradually increase throughout the year and how that impacts your volume outlook for the fiscal second quarter and the back half of the year?
Tom Salmon: China is a relatively small part of our portfolio overall. That said, there was some impact relative to the COVID-related shutdowns. But as those normalize inside China, I think it will provide a steadier, more consistent path for growth in the coming quarters. So, that would certainly be a tailwind for sure.
Kieran De Brun: Great. Thank you.
Operator: Thank you. One moment for our next question. And that will come €“ George Staphos with Bank of America. Your line is open.
George Staphos: Thanks very much. Hi, everyone, good morning. Thanks for all the details, and Tom, I’ll echo everyone else’s comments. Congratulations to you. Company’s evolved significantly over your time. So, congratulations on that. A couple of questions. The first on targets and then the last on price cost. So, in terms of the targets, you talked again to the deleveraging target now being 2.5x to 3.5x, we certainly would agree with that view. In your view, what changed most in terms of why this is the right target now? Is it where Berry is mature to in terms of you don’t need to do acquisitions anymore to continue the growth? Is it cost of capital you see being applied to companies with higher leverage? Was there anything that changed in your view in terms of why this is now the better place to be.
Relatedly, you mentioned a number of targets on Slide 18, and that’s terrific. I don’t see a return on capital target. Will you expect to have one in the near future? And do you have a view in mind in terms of what recurring capital growth could be over the next several years?
