Christopher Cartwright: Yes and again, just to reiterate, we’re very focused on driving as much growth as we can out of the new acquisitions and taking costs out. We’re happy to be able to raise the guide to $80 million in synergies from Neustar. And look, I hope a year from now, I can come back and share even better news on that front, but we’re also focused on paying down our debt. We’re hoping to get to 3.5x this year and to take it as low as 3x or below by the end of the following year. That’s a lot of interest savings that will benefit the EPS.
Todd Cello: And just to underscore that point, as we always do with our guidance, we do not make assumptions on capital allocation decisions with cash that builds. So to that point, if you look at our guide for ’23 and then even out into the future, those paydowns are not incorporated into the overall adjusted diluted EPS, as well.
Operator: The next question is from Manav Patnaik of Barclays. Please go ahead.
Manav Patnaik: Thank you. Good morning. You had a lot of helpful commentary on how you would perform if there was a recession and I was just wondering, do you guys have any internal macro calls and probably the probability of that given all the data that you see? And just tied to that, the gaps overall, is this €“ would you characterize this as conservative as true has been historically or is it more, I think, last year, when we came out with guidance, you talked about it being less conservative, more realistic? So just trying to get a sense of what this year is set up to be.
Christopher Cartwright: Yes, Manav, good question on guidance philosophy, but also just kind of some macro insights. So what I’ll say is, look, I think you should take us at our word on the guidance for ’23, right? We crafted a range after a significant amount of deliberation and thought that we think is reflective of what we can do. Now if economic conditions were to deviate materially in one direction or another, that’s a different factor, right? But I mean, we’re guiding 3% to 5%. I think you should consider 3% to 5%. And again, if you look at our fourth quarter, we outlined a guidance range, and we delivered within that guidance range for revenue, for EBITDA, and on an operating basis from EPS. The small miss on the EPS was due to a tax item, below-the-line item, right?
So I think we would just ask investors to take us our word on the guide, that’s where we’re targeting. And in terms of the macro stuff, look, I can arm your quarter back with you, but the reality is all of you guys have much smarter and more qualified economists on your staff. So, I am going to pass on that question.
Operator: The last question is from Heather Balsky of Bank of America. Please go ahead.
Heather Balsky: Hi, thank you. I am going to piggyback off the last question. I won’t ask you your macro forecast again, but just in terms of the guidance range and looking at the low end of the range, I’d be curious to kind of what assumptions are baked into that is how you’re thinking about that range? And then, layer on there, you expressed confidence in your ability to grow in a recession, so how to think of end of the range and maybe how that compares to a potential recession scenario?
