Andrea Teixeira: Thank you, operator, and good morning. James, as we think about the 7% to 8% organic sales growth guidance, what is the price/mix carryover into 2023? You said it, obviously, will moderate, but what is — are you embedding any additional pricing that is not in the trade yet? And how are you planning for China volumes in 2023? What is the benefit from there, or any mix dynamics we should be aware of? Thank you.
James Quincey: Yeah. So we’re certainly planning for China to become more normalized, reopening ala the US and Europe. And so we will see a more normal level of volume in China and a recovery to the 2019 or growth on the 2019 numbers as time come through as we go through the year in China. And then in terms of the carryover, clearly, there’s some carryover, particularly in the first half from 2022. But we will be taking pricing in 2023. Now having said we will be taking pricing, the world is very different. I mean, there are countries where inflation is well over 50%. So pricing is taken multiple times a year. Argentina is an obvious example. So in the developed markets, it’s likely we’ll trend more back towards more standard cycles of pricing, but there will be price increases across the world in 2023 to reflect both the continuing inflation in import and SG&A costs.
Obviously, we need to, as I talked about in the previous answer, earn the right to that pricing, but there will be pricing in 2023.
Operator: Our next question comes from Rob Ottenstein from Evercore. Please go ahead. Your line is open.
Rob Ottenstein: Great. Thank you very much and congratulations on a terrific year. So over the last few years, James, you and your team have made significant cultural changes, organizational changes, changes to the product portfolio. As you look at 2023, what are the key initiatives that you’re looking to drive to set up for continued strong growth over the next decade or so longer-term and perhaps weaved into that answer, where things are on Costa, on BODYARMOR and on any other new initiatives that you think would be helpful to discuss? Thank you.
James Quincey: Yes. Great. Thanks, Rob. And certainly, we will unpack a little more of this at the CAGNY presentation and the CAGNY conversation. So I’m sure I won’t do full justice to the question in this session. In terms of the initiatives in the marketplace, we have an aspiration of being a total beverage company everywhere. That’s not going to happen overnight. And so we need to make progress in a disciplined way in different category, country combinations, as we’ve talked about, to establish leadership positions, preferably quality leadership positions, in the next set of country category combinations on our journey to the total aspiration. And within that, there are ones that are off to the races and flying away. And there are ones where we still need to demonstrate to ourselves we can execute against the vision.
If I take the two you called out, Costa, BODYARMOR, to start with, the essential thesis behind coffee remains the same. It’s a huge market. It’s growing. There’s lots of money in it. If we can find a path, there’s a tremendous growth opportunity for the Coke system there. We’ve got a vision. The reality is timing was very unfortunate getting it just before the pandemic. In strategic terms, despite all the experimentation, despite all the learning, despite all the initial steps, in big strategic terms, we haven’t advanced because, essentially, COVID put it on hold for three years. We now need to get the execution ramped up for cost against the vision and in the coming years demonstrate that, that holds water. BODYARMOR, great job. We obviously incorporated that into the company last year.
