“I'd say in terms of buybacks going forward, we'll be contemplating them and they'll be largely focused on offsetting any kind of dilution that we have this year.”

In context

“pproach. I'd say if I were to kind of rank it in terms of use of cash, we're committed to growing a dividend, a strong and growing dividend. So that's probably #1 use of cash. We announced that increase of about 9% in our dividend last year. So that's I'll say is priority number one. Number 2 is obviously ensuring that all of these new products that we've got launching are appropriately resourced in terms of manufacturing and a lot of our CapEx investments. On the buybacks, we did throughout the first 9 months of last year, we had about $3 billion of buybacks. And I'd say, we probably did a little bit of catch-up there, Joanne, in terms of catching up to some of the dilution as we were focusing on getting our leverage down post acquisition. So we do a little bit of catch-up there. And I'd say in terms of buybacks going forward, we'll be contemplating them and they'll be largely focused on offsetting any kind of dilution that we have this year. I'd say the other kind of key use here for us this year is going to be debt. We have some debt towers coming up, and we're not going to be renegotiating those just given interest rates. We want to move those off. So that's probably where you see the use of cash. On the M&A side, which I know is always a question, so I'll preempt anybody over there who's got that on their list. I talked about it where -- on several calls, we're interested. We're actively assessing the opportunities, whether it's tuck-in on up. Clearly, the valuations here have come down somewhat and I think they need to stabilize a little bit. But we have casted -- we casted a pretty wide net. Diagnostics devices are the areas where we have most interest. And again, if it financially makes sense for our shareholders, a”