Scott Sutton : Well, I would just say that we’ve expanded our capability there. Remember, the way that joint venture was formed was a merger of the 2 international businesses in caustic and EDC. So we’ve just enhanced our capability there further.
Vincent Anderson: Okay. And then as I think about the market share expansion benefit is pretty self-explanatory. But if I think about partner not being a producer, the way you are. Can you talk about how that might change your approach to the international markets that you’re not caught in a position where you’d otherwise be looking — having to run your assets even lighter than you would want to. Does that involve a more significant investment in storage capacity, dedicating balance sheet capital to inventory builds in the right situation. Can you just talk through that.
Scott Sutton : Well, I would just say that, look, it’s not a market share gain there. If you think about what’s going on, you’re merging 2 existing businesses that didn’t emerge business is essentially going out and expanding its trading capability. So while the joint venture will be managing more molecules in the future than it does today, those molecules are already produced and sold today. It’s just that they end up under a different umbrella in the future.
Vincent Anderson: Okay. All right. That’s fine. I can work with that. And then just one quick one. Todd, you said $500 million to $700 million of revenue, minimal EBITDA impact in your one specifically. This isn’t some kind of big fixed cost asset that we’re ramping up into. So what turns out to EBITDA positive?
Todd Slater : You should expect that this business as it continues to grow and it’s more molecules under its umbrella, that revenue will continue to grow and then we would expect that EBITDA performance would improve.
Operator: Our next question will come from Kevin McCarthy with Vertical Research Partners.
Kevin McCarthy : Scott, natural gas prices have plummeted perhaps 65% or 70% over the last 6 months in the U.S. Would you talk about the impact that you would expect that to have on your chlor alkali and vinyls business or the overall company for that matter, taking into account any hedge positions that you may have?
Scott Sutton : Yes, sure. I mean, I would just say, look, I mean, the impact is a bit muted, right? We do hedge and we always have hedged. So we moderate that. We don’t necessarily see the peaks. And because of that, we don’t necessarily see the value — I mean, the valleys either. So for us, it’s really generally moderated.
Kevin McCarthy : Okay. And then for the Winchester business, what sort of volume trends would you anticipate in 2023 for commercial versus military?
Scott Sutton : Yes. Well, I mean, Brett is going to add a good bit of color because we have of actions there, particularly in the military business. We’re going to start out slow in commercial as adjustments are taking place and military is off to a good start. Brett?
Brett Flaugher: Scott is correct that we’ll start off slow from a commercial standpoint. It probably will look a little bit better in the fourth — in the first quarter versus the fourth quarter, but still slow. From a military standpoint, the one benefit that we have from the military, we get a long runway visibility on demand from the military, from our U.S. military customer, and we have that visibility and it’s very consistent from what we’ve experienced in the past. The big change is that we are starting to see some of our international military customers acquire about some needs that they haven’t had in a long time.
