Jeff Cote: Yes. Great, great question, Chris. The opportunities are based upon what in 2022 was a very robust pipeline of sourcing opportunities at our customers. As we look into 2023, it’s still quite robust, but it’s not at the level that it was when we entered 2022. So it’s a great point, $1.046 billion is what we wanted new business opportunities in 2022. We’ll keep charging toward that. But when you look at the pipeline of opportunities that are out there right now, getting to another $1 billion is going to be challenging, but we’ll keep driving toward it. And candidly, there will be sourcing opportunities that come out during the year that we don’t know about yet. So I think the key point here is based upon the business wins that we have in hand and expectations that third parties have on market growth in our current business, we feel very comfortable that we have all we need to get to that $2 billion.
But clearly, I know that following question is, okay, when are you going to increase it beyond the $2 billion? And we’re going to keep driving at it to make sure that we realize the full potential associated with the future revenue base for the business. I appreciate the question, Chris.
Jacob Sayer: Yes. Thanks.
Operator: The next question comes from Amit Daryanani from Evercore. Please go ahead.
Amit Daryanani: Good morning. Thanks for taking my question. I guess I understand the hesitation to not provide a full-year guide, but maybe just touch on your expectations for outgrowth in 2023. I think last quarter; you first talked about outgrowth to be the high-end of the 400 to 600 basis points range in calendar 2023. Would love to sort of get an update on that, if you could? And maybe you can talk about how much of that do you think is content versus pricing as well? Thank you.
Paul Vasington: So we have developed our delivered outgrowth much greater than the targets that we set over the last three years, which has been a great outcome. For next year, based on what we have visibility to, which is pretty high, we would expect our outgrowth to be in the high-end of our target range for 2023 or slightly or a bit above.
Amit Daryanani: I guess, Paul, would there be a split between pricing versus content on that number? Or is it all content?
Paul Vasington: It is going to be more content than pricing in 2023.
Jeff Cote: The pricing is part of that for 2023.
Paul Vasington: The pricing is going to be part of that. Like I said earlier, it’s elevated year-over-year, but the content is certainly is the biggest driver of that outgrowth.
Jacob Sayer: Thanks, Amit for the question.
Operator: The next question comes from Shreyas Patil from Wolfe Research. Please go ahead.
Shreyas Patil: Hey, thanks a lot for taking my question. Just wanted to circle back to the question — to the comment on channel inventory. I believe last quarter; you mentioned a $20 million headwind associated with that. It looked like it was — sounded like it was flat in Q4. So just how to think about channel inventory destocking as we get into 2023?
