Mark Lashier: Yes. And I would like to throw another example out there, Ryan, that last week, a group of us visited the Sweeny Complex, and we got to stop by the control room that operates all of our fractionators. And I asked a couple of frontline operators how they felt integration was going, and they were ecstatic because they see the ability to improve their ability to perform. They see it in real time. They said we can run at harder rates because we get better information, there is greater collaboration. They can run without concern or surprises coming at them. And so the whole mindset around business transformation, synergy capture, being more competitive has evolved all the way to the front line. These folks want to win, and they want to figure out every day how to do better and how to drive more synergies and capture that and deliver value. So, it’s real, and it’s out on the front line.
Ryan Todd: Thank you.
Operator: Thank you, Ryan. Paul Cheng from Scotiabank. Please go ahead. Your line is open.
Paul Cheng: Thank you. Good morning guys.
Mark Lashier: Good morning Paul.
Paul Cheng: Good morning. A couple of questions. Marketing, the business seems like continued to do better than expected in a number of quarters. You have been adding retail stations and everything. So, should we look at that your base and then what’s considered mid-cycle have a structural improvement because of your – the way that how you guided maybe changing the way how you run or adding to the asset? And if it is the case, what is the new good baseline that we can assume?
Mark Lashier: Yes. Paul, what I think you are asking is you are applauding the good performance you have seen in the marketing group, and it continues to increase, as Brian and his team execute their strategy. And you are asking, is there a reset in the mid-cycle performance of the marketing business, is that the question?
Paul Cheng: That’s correct. Because I mean I think historically, that it’s sort of like mid-cycle is $400 million a quarter. But you certainly have done much better than that in the past 2 years. I think that one quarter, you can say, maybe it’s one risk, but it seems like it’s pretty consistent that you guys have been performing better. I was just curious that, is it structurally that the business is stronger today as you add more retail station and everything, or that this is truly that you think is just the market condition is much better than average?
Brian Mandell: Paul, this is Brian. I would say we did raise the mid-cycle a couple of years ago, and we will continue to watch it. And if we need to raise it again, we will. But obviously, the business is performing better and we are proud of the business performing better. We are going to continue to look for opportunities to add to the last-mile strategy and some of our other initiatives. So, as we see that value hitting the bottom line, we will indeed, at some point raise the mid-cycle.
Paul Cheng: So, Brian, that you don’t feel comfortable that we have seen enough of the improvement, saying that the mid-cycle is that, indeed, that is now even better than what you had in mind, say, a couple of years ago?
Brian Mandell: I would say keep watching the bottom line, and you will see the dollars there. And when we feel comfortable, we will move mid-cycle up.
Mark Lashier: Yes, Brian never lacks confidence.
Paul Cheng: Okay, fair enough. And maybe this one is for Rich. Rich, can you share with us that – what’s the Phillips 66 turnaround activity look like for next year? Is it comparing to this year, whether it’s going to be higher, lower or about the same? And also, what’s your view about the industry turnaround activity for next year? Thank you.
Rich Harbison: Yes, Paul, appreciate the question. We generally give that guidance out fourth quarter, and so stand by for that outlook on the fourth quarter.
Operator: Thank you, Paul. John Royall from JPMorgan. Please go ahead. Your line is open.
