Chris Carey: Hi. Good morning. Just one clarification and then a question on Wine and Spirits. Just the clarification, Garth, you said that you didn’t expect any distortion in shipments versus depletions going forward after Q1. And I think you were clear in response to Bryan’s question about the mix of cases front half or back half but should the rate of growth of shipments be below the rate of growth of depletions in Q2 or any quarter go forward? And basically, what I’m trying to clarify here is the absolute cases versus the rate of change. So I would just give a clarification then. The question on Wine and Spirits would be – can you just perhaps just suppose the premiumization efforts with the margin delivery in the quarter and perhaps just reaffirm confidence in a way on the margin trajectory of the Wine and Spirits business go forward here? Thank you.
Garth Hankinson: Yes. So, on the shipments and depletions. So look, as we said, we expect the shipments and depletions to be on a nominal basis to be largely in line with one another on a full year basis. I think if you look and you go back to the years that are unaffected by the pandemic or weather-related operational difficulties, you’ll see that there is some seasonal differences between depletions and shipments. Q1, as we noted, we typically do have some outpacing of shipments relative to depletions on a nominal basis as you’re building for the summer season. So – and you’re getting distributors and retailers in a position that they’re able to meet the demand of that key summer selling season. So that’s fairly typical. So I would just ask you to go back and look at some prior periods, again, pre-pandemic.
As it relates to our Wine and Spirits Business, again, as we said on the call, we do expect to see continued improvement through the year on the margin front as we continue to see increased traction with our premium portfolio. Again, we’re seeing good growth on brands like Meiomi and Kim Crawford and The Prisoner Wine Company. We’re continuing to get the benefit of pricing on those. And there are a number of cost initiatives underway in our wine business. As well as seeing improvements there, as we said, on both logistics and on great input costs. So again, that’s a business also that, as Bryan noted, we’ve guided will – the volume there is about 55 back end loaded. So, for all of those reasons, we’re confident that we can deliver the year and deliver the margin profile that we previously guided to.
Operator: Thank you. Next question is coming from Filippo Falorni from Citi. Your line is now live.
Filippo Falorni: Hi, good morning, everyone. A quick question on the health of the U.S. consumer, particularly, if you look about your core Hispanic consumer base, any changes that you see in terms of purchasing behaviors, in terms of package size, trade down or any signs of that? And clearly, your business has improved as the weather improved in California. But any signs there also in terms of changing consumer behaviors, particularly again, in the Hispanic consumer base in the states? Thank you.
Bill Newlands: Yes. As you can imagine, that’s something that we track very carefully as well. And we’re pleased to report that the buy rate, which again is trips times the spend for high-end beer, and this includes the Hispanic consumer was up year-on-year in the first quarter. It’s one we track very carefully. It’s an important element to us. And it’s one that we are very pleased to see in a positive vein. As you point out, we have continued to see acceleration of our share in California, which is an important market during the course of the first quarter as well. And in that particular market, as you would expect, the Hispanic consumer base is very important to us. It’s also very important, for instance, in the state of Texas, which saw a double-digit growth profile in the first quarter as well.
