Ed Breen: Josh, as a reminder, Page 16 of our slide deck has some additional modeling guidance, including share count, but don’t miss the fact that we took quite a few shares out in the fourth quarter associated with the ASR that was enacted in mid-November. So, you may have been missing that effect in the fourth quarter and then the guide for €˜23 on the year-over-year.
Josh Spector: No. Got it. I appreciate that. And just Ed, I guess a follow-up on the contract you have in place to keep going beyond this year. I guess it’s become a bigger question for investors around long-term transition planning. So, I guess where would you say you and the Board are in terms of thinking about kind of the next step for DuPont, maybe it’s multiple years out, but where are we in that process?
Ed Breen: Yes. The Board is well aware of internal candidates being developed and continuing to go through their career. So, we €“ the Board is clearly aware of who internally is an option for the next CEO role. But we are also not at that point, but we do discuss it regularly in the development plans for the internal candidates. So, I will just leave it at that.
Josh Spector: Okay. Thank you.
Operator: Your next question comes from the line of John Roberts from Credit Suisse. Your line is open.
John Roberts: Thank you. Ed, you didn’t mention the U.S.-China trade technology restrictions, including the new Huawei controls. Is that an immaterial issue for DuPont?
Ed Breen: Yes, it’s 50 €“ John, the reason we didn’t €“ I know we mentioned it last quarter, but it’s about $50 million to $60 million of revenue. So, it’s not that significant, though. But we did bake that obviously into our forecasting that we did. And so whether you can take that as €“ you can extract that down to EBITDA, it’s not that big in the scheme of things. But that’s definitely in place, yes.
Lori Koch: Yes. And that’s on that Ed said on the direct Huawei exposure, there is really not much there. So, we don’t have exposure there.
Ed Breen: Right, that $50 million to $60 million is semi.
Lori Koch: Yes.
John Roberts: Can you remind us when the first PFAS trial is scheduled and any update on the negotiations there?
Ed Breen: Yes. John, it’s scheduled in June of this year. And we have ongoing conversations for a settlement. By the way, I think having a €“ the judge appointed a mediator, I think that was around the time we did last earnings call, if I remember. And I would say that’s very helpful to the process. So, I will leave it there.
John Roberts: Thank you.
Operator: Your next question comes from the line of Arun Viswanathan from RBC Capital Markets. Your line is open.
Arun Viswanathan: Thanks for taking my question. Just kind of understanding kind of the back half cadence and you will be exiting the year on. So, if you think about the guidance you offered, does it look like maybe the back half is kind of at a run rate basis, maybe at the upper end or maybe at the middle end of the range, say, Q3, Q4 averaging close to $1 or €“ and what is it going to take to really get to that kind of level of earnings power? Is it mainly a macro recovery, or are there other levers within your control that you can leverage? Thanks.
