Christopher Parkinson : One of the best success stories I think Corteva in 2022 was just the progress you’ve made in CPC margins. You laid out some helpful framework in the PowerPoint, but if you could just offer some further color on first of all just obviously the price/cost environment new product growth the exit of certain business lines. It seems like things are probably ahead of schedule as it pertains to your longer-term margin guidance. So just any additional framework you could offer on that would be very helpful? Thank you so much.
Dave Anderson : Let me introduce very quickly and then I’ll turn it over to Robert for his comments. You’re exactly right Chris. I mean, it’s the combination of those things. The focus on differentiated products new products what we’ve been able to do in terms of managing headwinds associated with by the way not only cost inflation in terms of material cost or market-driven costs, but also currency. It’s been a big headwind for both businesses to include crop. So the setup right now I think for 2023 is positive. The thing to keep in mind of course and Chuck mentioned that I mentioned it in my prepared remarks is the headwind — just the volume headwind that’s associated with the product and geographic exits particularly the product exits for crop in 2023. Robert., do you want to talk a little bit about some of the formula?
Robert King : Sure. Yes Chris when you look at 2022 just a quick recap on how do we do it and what were some of the key drivers there. Dave hit on a few of them, but it really starts out with our strategy around price for value and productivity. We continue to be able to offset inflation in that year of — inflation was about 10% as you roll the year up and yet we were able to continue to put new technology on the ground and the demand for it continues to grow up — continues to go up with the growers. Our new product growth finished up about 33% as you’ve seen. And this is really a good story around that technology that continues to be a pull into the market. So these types of things with our supply chain becoming more resilient.
We delivered nearly 10% more volume last year. This will be the continued story into 2023, as we begin to look at how will we manage margins what’s that look like and how do we get through the year. We’re going to continue to follow our price for value strategy. We do expect we’ll have a little headwinds in the first half of the year for inflation and we’ll work with that and productivity to continue to offset that. And then really what you look at in 2022 is structural changes that we’re making and with the exits that have started we will finish up. It will be about 70% done with all of our AI exits in 2023. So 2023 really becomes a transformation year that we begin to change our portfolio and position us for even better margin accretion as we move forward into the future.
Operator: Thank you. And our next question today comes from P.J. Juvekar with Citi.
Patrick Cunningham : Hi. Good morning. This is Patrick Cunningham on for P.J. In crop volumes in the quarter Crop Protection were down outside of North America and it seems like fungicides took a pretty big hit. Can you walk us through why the Crop chem volumes were so weak in the quarter? Thank you.
