Michael Petras: Yes. Thanks, David. I hope you’re doing well. We — Pharma has been a strategic priority for that business as well as the whole company for the last several years. As you may recall, it’s a pretty significant SAM that we play in on the Nelson side. Yes, a portion of that CapEx — a large portion of that CapEx for Nelson Labs is targeted towards pharma. We’re seeing nice growth in several pockets on the pharma side. From a staffing perspective, I would say most of that is med device, but there is some when I look at particularly our business that has the largest pharma presence, the headcount there is up significantly over the past 2 to 3 years, supported by the growth of our customer base. So yes, we’re continuing to make investments in pharma and Nelson.
David Windley: Okay. That’s interesting. For the other, Michael, the tax rate and lack of deductibility of interest expense. Your description there, I appreciate, first of all, but it also seemed to include or describe an element of catch-up to that. Maybe you mentioned, I think, carryover deductibility or something like that. And so I wanted to ask the normalized level of that. Is there a point at which you get past some kind of anomalies and get to a different tax rate than what applies to ’23.
Michael Biehl: Well, I think in the next couple of years, it’s going to be in this range. And then as we pay — obviously, as we pay down interest, debt and interest expense goes down, that will they’ll start to affect the tax rate too because there’ll be less interest expense that we have to put a valuation on because the deductibility limit will start to go down. The little won’t go down but in terms of our actual interest expense will go down.
David Windley: Got it. Okay. And then Michael, in terms of — I mean, you have at times made some small bolt-on acquisitions, capital, you do list growth as your first item in your capital kind of priority strategy. Is it right to think that, that’s probably the organic CapEx investments that you’re making? And then beyond that, you’re paying down debt? Or are acquisitions still part of the growth capital deployment menu currently?
Michael Petras: Yes. So on the CapEx that’s projected and the guide of $185 million to $215 million, that is all around organic growth. There’s no M&A assumed in our guidance on revenue or capital deployment. It is still part of our list, as you say, it’s probably in the right place that you referenced it. The first would be organic growth, the second would be deleveraging, the third would be strategic M&A. I could tell you we continue to build the pipeline around that area. And are tracking that market in several opportunities. But at this point, we have nothing to report, and there’s been nothing built into the guide for 2023.
Operator: Our next question will come from Michael Polark with Wolfe Research.
Michael Polark: Thank you for all the detail, very short-term focused one and then a bigger picture follow-up. On the first quarter, with the moving pieces in Nordion, the low revenue expected due to harvest timing, can you just help with an enterprise adjusted EBITDA target for the first quarter to make sure models are aligned versus, say, the prior year of $115 million flat with that, down a little bit, up a little bit? Any color there would be helpful.
