Matthew Farrell: Okay, Rick, do you trust me to handle this one,
Richard Dierker: Do you want me to handle that? To give you something. Gross margin is like we said, stairs up through the year. Part of that is the mix headwind in the front part of the year that we just experienced in the back half of this year because of the discretionary businesses like WATERPIK, Vitamins typically have good gross margins. Other part of it is as our fill rates recover, right? I think you saw a slide that Barry had up there showing 93% fill rates in the first half, 97% fill rates in the back half. So as you have fewer truckloads as you have fewer fines from retailers, all those things up gross margin as your supply improves. SG&A, we haven’t really got into the quarterly SG&A. SG&A is higher in Q1, and part of that we put in the release was just timing of equity grants as well.
Mark Astrachan: Okay. Mark Astrachan at Stifel. Two related questions. So one, M&A, which is a stronger contributor, I think, than many expected in the fourth quarter. What drove that? And then how do we think about the contribution from M&A for ’23 relative to what you had said about HERO?
Matthew Farrell: Yes. Well, we had a really strong quarter — new acquisition HERO. It actually exceeded expectations. I think this consumer is driving that. And we also had the opportunity to spend more in marketing in the fourth quarter for Hero after we bought the business that came in, in October. But yes, as far as 2023, I would say, yes, it’s a little stronger than we expected when we first bought it. So that’s going to help us. And you can see our range — the gap between reported, which is on average 6% and 3%, which is organic. Most of that is the payroll business.
Richard Dierker: And just to give you a couple of numbers. We will end the year for HERO in 2022, around $180 million, we said when we bought it, it would be a 15% grower in 2023. You roll that forward and that means it’s about 3%, and you’re going to take the Q4 of 2022 out of the comp, but it’s about a 3% tailwind for 2023.
Mark Astrachan : And on the EBIT line, I mean, I know what you said about interest expense. So what about from contribution there given the higher revenue, same sort of flow through?
Richard Dierker: Well, we’re investing more marketing and I’ll let Barry talk to it a little bit, but we are — as we expand distribution, we’re going to spend more marketing for national campaigns, right? So it is a virtuous cycle for HERO.
Barry Bruno: That we’ve never had a national campaign before because they weren’t in national distribution, right? And like seem obvious. But we’re getting excited about launching the first campaign to tell people all about acne patches because they still don’t even realize what they are in many cases, household penetration versus total acne care lags by 10 times, 20 times, so that form we’re going to educate about as the category leader, we benefit from that. So that’s all new as we’re building distribution at the same time. So I think it’s a pretty exciting hero story. We’ve kept the whole Hero team with us, by the way. They’re a great strong team, and they’re leading that business today. So excited about here going forward.
Matthew Farrell: Okay. Jonathan over to you.
