Helmut Zodl: Yes. So Ryan, I think to the RPO, we feel good about the Q4 in a book-to-bill ratio of 1.07. And this really I think demonstrated that the markets are strong. The book-to-bill, the way how we define it is really, I think, a quite simple calculation across the whole portfolio. And you mustn’t forget, we had quite a large services business in this as well where book-to-bill is 1. Also the PDx business for us as a book-to-bill of 1. So when we look across the portfolio, you will see book-to-bill is actually higher in our imaging products, where we have obviously from taking the order until shipment takes a longer time and we’re quite comfortable with the backlog. Historically, that book-to-bill, I would say, has been running in similar ranges.
It would have been up above the 110 level at certain quarters if we look at historically, but it’s running at a very solid basis at this stage. As it relates to our RPO, the RPO, as you mentioned, is a big amount that we have disclosed and we’re quite happy with that backlog. The RPO, the way it’s defined, I want to be also maybe clear on, it’s defined as backlog that is non-cancelable. So we also have backlog that is non €“ that is cancelable, where we see very, very little, very few cancelations from our customers because they’re committed to the product, that’s really how we look at that RPO. And we’re exiting the year at a very strong position both on the RPO side as well as the total backlog. And just to be clear, the RPO, it is $14 billion.
I don’t know if they did better $10 billion number you quoted came from, but it is $14 billion at the end of 2022.
Ryan Zimmerman: Thanks, Helmut. Thanks for taking the questions.
Helmut Zodl: Thank you.
Peter Arduini: Thanks, Ryan.
Operator: Thank you. Our next question comes from Jason Bednar with Piper Sandler. Your line is open.
Jason Bednar: Hey, good morning, everybody. And again, I’ll echo the congratulations here on the quarter and the guide and with the spin and everything. I do want to touch here on China and build on the discussions from prior questions. I think most acknowledge there’s some level of pent-up demand in that market. I know you’ve referenced it, Pete. It might be tough to call right now, but how do you see the China market unfolding here for GE HealthCare in 2023? And really, as we look throughout the year, if there’s any cadence you’d like us to think about? And then maybe if you could speak to what you’ve embedded in the guide for China this year?
Peter Arduini: Yes, Jason, I think €“ look, I think China, it’s obviously tricky to fully estimate how things will play out. I mean, we’re cautiously optimistic. But again, if you pull the lens back, you look at the market, you take a look at how, in many cases, procedures have been suppressed over the last 18 months at least potentially even 24 months. Things are clearly opening up. And yes, there’s challenges within the hospitals now with COVID patients and such. But if we think of our own facilities that we’ve been able to keep running through Q4 when COVID levels were up 60%, 70% in the environment, we were able to do that with learnings we had from how to run it in the first half of 2022. But we’re now seeing a lot of those rates, particularly in the bigger cities, where a lot of the businesses transacted to drop off quite a bit.