“Some of the headwinds that we faced, I'd say, over the last couple of years are starting to turn a little bit into tailwinds. So whether it's commodity costs, freight and distribution, all those elements seem to be, let's say, right now and given our visibility for the year as we stand here today, turning into tailwinds, so that helps.”

In context

“significantly here. So I'd say our biggest opportunity for margin expansion really is on the gross margin line. And that is, if you think about our big 5 activities this year at the company, and we could do all 5 in the same time. But I'd say gross margin is pretty high up there in our priority. We're forecasting a pretty nice step-up in our gross margin profile this year, roughly around 75 basis points. And there's a combination of factors that are helping to drive that margin expansion, that profile expansion. We've got a pretty strong track record here of executing on internal margin improvement program. So every business has got their programs. We manage those on a monthly basis. They all get reported out. So there's a high degree of visibility and inspection to those programs. Some of the headwinds that we faced, I'd say, over the last couple of years are starting to turn a little bit into tailwinds. So whether it's commodity costs, freight and distribution, all those elements seem to be, let's say, right now and given our visibility for the year as we stand here today, turning into tailwinds, so that helps. And then the other part here is just, I'd say, portfolio mix. So as some of the Device businesses continue to outpace and continue to grow those are higher-margin businesses and they provide that mix element in that gross margin expansion. So I think this provides a nice opportunity for us this year. But I expect over time, we'll get back to our pre-pandemic gross margin profile. It's -- for me, it's not a question of if -- it's just a question of when we could target 50, 75, I mean it's never going to be as linear as we always would want, but that kind of expansion for us, I think, really provides a good opportunity to drive earnings growth over the next couple of years. So I'd say that's our biggest opportunity. I think we did a really good job at leveraging spending. And I think”