It’s just a little bit more significant now just due to the broader nature and scale of some of those short-term impacts that we’re seeing. And if you remember, during COVID, we did provide support to our system. It was critically important because it allowed all of our systems to stay focused on our plans and was really fundamental to the accelerated momentum that we saw through and then coming out of the pandemic. This is a very similar situation. I mean our system is highly aligned, it’s confident, and it’s focused on our strategic plans and is continuing to proactively invest against the opportunity areas that we have. So I think it’s this that’s really going to help us stay focused on the category-leading momentum we have and make sure that we — as we get out of these headwinds, we’re in the strongest possible position.
Mike Cieplak: Our next question is from Eric Gonzalez with KeyBanc.
Eric Gonzalez: Hey, thanks for the question. Maybe if I can ask one about unit growth, if I can. I’m not sure you already finished 2022 on a gross basis. But I’m guessing based on the year-end CAPEX number that it was maybe slightly below your expectations. And then this year, you’re expecting development to be a bigger focus and an uptick in unit openings to about 1,900. So maybe if you can comment on where you’re starting to see maybe some improvement in the construction and permit timing and also what you’re seeing in terms of build-out costs, perhaps directionally new unit economics given those higher costs and presumably the lower margins that you’re signaling with your guidance? Thanks.
Ian F. Borden: Good morning Eric, yes, thanks for that. I think for sure, in 2022, we had some impact just from that — coming out of COVID, some of the impacts on just getting permits approved. I mean, as you’ve heard us talk about in our outlook for 2023, we think we’re going to open on a gross basis about 1,900 locations, about 1,500 on a net basis. If you look specifically at the U.S. and IOM segments, we’re planning about 400 openings there. That’s up about 25% from where we landed on in 2022. So I think that’s a sign of the confidence we have and the opportunity that we’ve got in those segments to begin to start accelerating openings as we’ve talked about adding that 4D development. For sure, I think there’s certainly some inflation on the construction and development costs like we’re seeing across almost every sector today.
But we also know we’ve got opportunity, I think, to be more efficient and effective in our investments that we’re making in some of the restaurant formats and how we can get more efficient and effective as we bring those formats up. And so feel really good about the returns that we’re continuing to generate, particularly in the U.S. and our IOM segments, and feel confident in the opportunity we’ve got to add more units as we go forward.
Christopher J. Kempczinski: Yes. I would just add a couple of things. I mean think about the U.S. for a moment. We haven’t added new units in the U.S. in eight years. I mean 2014 was the last year that we actually grew restaurants in the U.S. So we’ve had eight years where we have been focused largely on a remodel program. And in that same period of time, I think everybody would agree, our U.S. business is in a significantly better shape today than it was back then. And so you look at our three-year stack, our three-year stack in the U.S. is 25%. Our global three-year stack is also around 25%. We’ve grown the business to a great degree and what we haven’t done is we haven’t kept up with the new unit pace, particularly in our owned markets, U.S. and IOM. And so we’re spending the time right now to get a very granular look at where we would build, at what pace, and what types of restaurants, and that’s the — what we plan on sharing with you at the end of 2023.
