Cody Ross: Yes. And then just last question, just surrounding your capital allocation. As we look over the past decade, you’ve turned over a meaningful portion of the business, adding higher performing assets and shedding some non-core assets. What have you learned from acquisitions over the past decade that you believe will enhance your capital allocation going forward? And then similarly, is there anything you would have done differently? Thank you.
Mark Smucker: Yes, Cody, thanks for the question. Over a couple of decades plus, we’ve been a very acquisitive company, and that has really helped increase our stature in the industry and with our customers, and we’re very proud of the trajectory that we’re on. And we’ve also been very clear in the last several years about portfolio reshape. And although there’s been some divestitures predominantly in the most recent years, that is all in service of executing our strategy. And consumer shift over time, which dictates that our portfolio needed to shift over time. And so the decisions that we’ve made of late really reinforce that our strategy is right, and we’re focused on the right brands. And as we’ve talked about acquisitions, we still want acquisitions to play an important role in our growth story.
But we will make sure that as we think about future acquisitions that we’re very prudent and responsible and that we go for acquisitions that are going to enhance our existing portfolio or possibly provide a meaningful position in a new and growing category at a responsible price.
Operator: Thank you. Our next question is coming from Rob Dickerson from Jefferies. Your line is now live.
Robert Dickerson: Great. Thanks so much. Might be two questions for Tucker, so sorry, Mark. Tucker, it just kind of looks like pre-pandemic €“ when I look at your SD&A line, normally, let’s say, it used to be a little first half weighted. I’m assuming driven somewhat by seasonality. Obviously, last year, it was lower for obvious reasons. This year, you’re ramping more in the back half to give, I would assume, back to kind of more steady state. I realize you’re not giving guidance for next year. But as we think through that line over the next six quarters or so, let’s say, is that kind of like a return to normal as we see in the back half of 2023 and then we think about 2024 that maybe it goes back to a bit more first half weighted? Or as we look at what you put up in Q3, maybe that’s kind of like a decent proxy run rate to think about kind of in the steady state? Thanks.
Tucker Marshall: Rob. Good morning. I would envision that the SD&A expenses are a little bit more level throughout the fiscal year as you think about forward planning. Obviously, there’s nuances to this fiscal year. But I think it’s fair just for initial modeling assumptions to sort of level it out through the fiscal year as you’ve noted.
Robert Dickerson: All right. Perfect. Thanks. And then simple question. Ken asked about free cash flow, what could be implied for Q4 CapEx so far this year, though, through the three quarters would also imply kind of a material step-up in Q4 relative to what we even saw in Q3, which was a step-up from the first half. So I just want to make sure that, that implied step-up is right? And then maybe if you could just comment quickly on why there’s such a step-up, like you’re finishing certain projects kind of almost there. That should be done by the end of the fiscal year. And that’s it. Thanks so much.
Tucker Marshall: Yes. We still see the outlook for capital spend at $550 million for the full fiscal year, and we will have a meaningful spend in the fourth quarter, and the predominance of that continues to be the support of the McCalla, Alabama facility for Uncrustables and its building.
Robert Dickerson: Super. Thank you.
Tucker Marshall: Thank you.
Mark Smucker: Thank you.
