So that’s clearly on the table. And then, lastly, sort of looking at installation and in the broader context, installers and things and looking at this acquisition an appropriate way to fill what we perceive to be gaps in our network markets with lower performance and things like that where you need some type of inorganic movement to change that, which has been core to that strategy. So really the three of those is what we are focused on and that’s what I would expect to see this year.
Steve Dyer: Perfect. Helpful. And then, I guess, just as a way of kind of following up on that in terms of how to pay for it, a little bit of that debt right now, nothing big, but with interest rates going up and it doesn’t sound like there’s a lot of cash you can ring from working capital per se. How do you think about sort of funding that roadmap this year?
Ryan Pape: Well, obviously, we will be looking at our overall debt situation, it’s a good time to reevaluate that, so that’s ongoing. So there’s some opportunity to improve that just in terms of the cost of capital on that side. And then, for us really without huge CapEx commitments and we are probably set even for us to have a lower CapEx year than we have had in the past few, even though the number is not great. But the big one is, if we stop investing in inventory for the type of deals we do and then with modest leverage, we should have ample cash to do a number of these things. That’s really the key. It doesn’t — it’s not predicated upon reducing inventory dramatically, and as we mentioned, you have got $5 million to $10 million max of inventory reduction we could see this year.
It’s more about just not committing the rest of the cash flow to inventory. And that with a little debt and if we can do that with a bit more attractive structure than we have today with our current facilities, then I think, we are in good shape for what we want to do.
Steve Dyer: Got it. All right. Thanks as always guy. Best of luck.
Ryan Pape: Thanks, Steve.
Operator: The next question comes from Jeff Van Sinderen with B. Riley. Please proceed.
Jeff Van Sinderen: Hi. Good morning, everybody. I wanted to just, I guess, get your sense on the one-time items, are those probably behind us at this point? I know you can’t see too far in the future, but as far as the next couple of quarters where the P&L should be clean of those?
Ryan Pape: Yeah. Jeff, I mean, they are. I think if you look at us from a historical standpoint, when we have called things out historically is one time, we tend to mean it. We don’t bury every quarter with a laundry list of onetime things that individually are, but in aggregate are. So when — subject to what we don’t know, right, but we call those out because that’s truly what they were.
Jeff Van Sinderen: Okay. And then just thoughts around the acceleration of PPF in 2023?
Ryan Pape: Well, I mean, the key for us is really China, right? That’s what drives the — all the numbers you are saying more than anything and the oscillations in that. Over time, with acquisitions, we convert some of our product sales with the businesses we bought into service revenue. So if you look at it over kind of a longer period of time, you actually see that we have done that quite a bit, because we tend to have an affinity to buy our existing customers versus people that aren’t customers of ours, right or wrong. So really, the — if you look at the fourth quarter, I think, our U.S. PPF sales were up $6.3 million, $6.4 million year-over-year. China was down $6.5 million plus or minus. So that kind of like that out, but ignoring even the installation component of the business, which, as Barry mentioned, has now grown to be a substantial percentage.
