“We do have some debt to pay down this year, which we will.”

In context

“ch. I'm not going to give you a formula of how much goes to here, how much goes to their. We do take a balanced approach. And on your M&A question, yeah, there's been an uptake of activity, no doubt. There are some good opportunities out there and whether -- and I don't think you're going to see a change in rate environment, but maybe on the regulatory environment, I think that creates opportunity. I've said that we've got a strong organic pipeline. It allows us to be selective. It allows us to look at opportunities that make sense strategically, but also generate an attractive return. I talked about how ROIC is important for us also. So not just top line, but return on that capital. So we do take a position here of being stewards of that capital. So I'd say, yes, we're in great position. We do have some debt to pay down this year, which we will. I don't anticipate rates coming down to the point that we might want to look at refinancing that. So we'll pay off that debt. It's about $1.5 billion this year. But even with that, we're in a great position with our balance sheet to be able to leverage opportunities that we'll see, talked about them. There's opportunities in med-tech, there's opportunities in diagnostics, and we're in a great position, and it allows us to be selective. Vijay Kumar: Understood. Thanks guys. Operator: Thank you. And our next question will come from Josh Jennings from TD Cowen. Your line is open. Josh Jennings: Hi, good morning. Thanks for taking the questions. I echo Vijay's congrats on a strong finish to the year. Another margin question just because the operating margin guidance for 2025 was some stronger”