When you look at acquisitions to Enzo in particular. So Enzo, we talked about that free cash flow in our guidance, the free cash flow we generated in the year is between M&A, share repurchases and dividends. So there’s a portion of that capital, that’s an M&A that we include in the enterprise revenues and that we don’t include it in the segment revenues until those transactions are actually completed and then we move them down, wouldn’t change the enterprise number, but it will affect if you will kind of a segment. Similarly, with lower COVID than what we were expecting in April, that’s being absorbed by stronger base business demand in diagnostics. So favorable diagnostics on the upside, a little softness within the biopharma services and a little softness in COVID, but netting out to the enterprise.
So that’s how we kind of come back to the consistency, if you will, if they’re in lines with the pluses and minuses. And LaunchPad again we talked about is continuing on track. So when we think about the labor markets, really no change in our viewpoint from labor. I mean, frankly, our attrition rates are tracking better than they have been a year ago, even though it’s still higher than what we would have seen pre-pandemic. The cost – the inflationary costs really haven’t changed much from where we were thinking they would be in April. So that’s, frankly, we would say kind of in line with where we would have thought. So overall, we feel, again, good about what we thought our businesses were going to do this year continues to be that same pace.
Kevin Caliendo: That’s super helpful. If I can ask a quick follow-up to Eric’s question. I understand that you have visibility on the second half for NHP in early stage and that may have been a run through from the first half and with some of the delays in the supply. I guess my question is what’s happening to demand going forward? Like I know you had visibility on these contracts. But what’s happening with demand beyond that as you look forward into 2024 or the second half of the year for new business? And what’s happening with the pricing in that market now with the supply coming back online?
Adam Schechter: Yes. So let me give you some context, and I’ll start broad, but then I’ll narrow it down to the exact answer your question. Broadly, if you look across Biopharma Laboratories, we feel good about the book of business that we have. We have a book-to-bill of 1.22 trailing 12-month book-to-bill of 1.22. And it’s important to note with the new mix of business that we have, having early development and having our essential laboratories, a book-to-bill 1.1 to 1.2 is healthy. So the book-to-bill is healthy. If we look at our central laboratory business and orders and RFPs, it continues to be very strong and robust. If we look at our early development, we still continue to have a significant number of RFPs about the same as what we’ve seen before.
But in the very emerging and smaller biotechs, we are seeing some pressure particularly as some of them are canceling studies and so forth. Overall, we continue to see very good demand as we walk into next year. When we look at our trailing 12-month book-to-bill, it gives us significant confidence as we go into next year. And the good news is that if you look at the business overall, we are very much skewed towards large pharma, large biotech when you look at the overall laboratory business.
Kevin Caliendo: Thanks guys.
Operator: Thank you. [Operator Instructions] Our next question comes from Derik de Bruin with Bank of America. Your line is now open.
Adam Schechter: Good morning, Derik.
Unidentified Analyst: Hey. Good morning. This is actually John on for Derik.
Adam Schechter: Hello John.
