Bob VanHimbergen: Yes. So maybe I’ll give you some color because we do have some moving parts there. So our backlog ended at $1.762 billion, as I mentioned. But the biggest driver is really volume. And so volume was up about 9% year-over-year. And so that’s the biggest driver. But the other thing I’d highlight is we did have an impact of price just because of some of the fundamentals that we’ve put in place with the global supply chain management team. So we picked up about 4% there. So if you think organically, backlog is up about 13%. We also had the impact of an uplift of the Gabler and Herbold acquisitions. We picked up another 5% of backlog there. So that’s about 18% year-over-year growth. Now unfortunately, with the foreign exchange rates, we did have a reduction of about 13% just on the euro, rupee and RMB really versus the dollar and most obviously being the euro. So net-net, we ended at 5% organically, 13%, up 13%, and then excluding foreign exchange, up 18%.
John Franzreb: Got it. And just I guess one last question if I may. Regarding Batesville and the price cost recovery, you’re saying that’s lagging the most. Why is that the case? I would think considering its book and turn shipping cycle, that would be easier. But are you locked into like long-term contracts? I guess a little color there would be helpful.
Kim Ryan: Yes. Just from an industry structure standpoint, that industry is previously normally characterized by a normal annual price increase that would go into effect and then we would help our customers. They have a lot of work that has to be done in order to implement those price increases and the resulting pricing changes that happen in all of their presentations to their consumers and their customers. And so we had €“ this industry is typically characterized by that annual price increase typically in October of every year. Over the course of the last year or so with inflation and the really outpaced inflation that all businesses were seeing, we implemented surcharge €“ surcharges during the year, one in January and again in May, to address the inflationary situations that we have there.
There are €“ there is timing elements of that because some contracts obviously we have to go in with the price timing that we’ve agreed to contractually. But those €“ even with those surcharges, it does take time to implement those things and pass those through to customers and they in turn then pass those through to consumers. So it’s €“ that industry is typically characterized by not real-time pricing in an effort to support the processes that our customers have to adhere to.
Bob VanHimbergen: John, I would highlight, we are caught up. We did catch up on price cost in the fourth quarter, and that’s what gives us confidence moving forward. But for the full year, obviously, we started behind in Q1, Q2.
John Franzreb: I’m going to sneak one more in. Hospitalization is up on a higher influenza rate. Are you seeing any impact on the Batesville business on that?
Kim Ryan: No, we’re not.
John Franzreb: Not yet, okay. Thanks for taking my questions.
Kim Ryan: The typical flu season does come in our second €“ our fiscal second quarter is when we typically see that more prevalently. So remains to be seen how close vaccines match that and all kinds of other factors that influence how that influenza season will behave this year.
John Franzreb: Great. Thank you very much, Kim.
Kim Ryan: Thank you.
Operator: The next question is from the line of Daniel Moore with CJS Securities. Please proceed with your questions.
Daniel Moore: Thanks again. Maybe just one more on Batesville. Looking at the guidance for this year, for fiscal 2023, specifically from a volume perspective, does that imply kind of close to full normalization post pandemic? Are we sort of back to the €“ what would have been the run rate if we had not had the spike of the pandemic? Or is that still kind of above trend?
