“I think obviously, as Chris talked about 2024, we've got some headwinds to work through, but feel really confident about our ability to continue to grow margins over time.”

In context

“robably the front half. Just again, we had an incredibly strong first two quarters of 2023 that we're working against. And I think some of the macro factors that were -- are going to impact us in 2024 could, I think, be slightly easing towards the back half of this year versus the front half. On op margin, look, I mean if you go back to 2019, I think we've had a pretty strong demonstration of what we will continue to talk about, which is, over time, certainly believe we continue to be able to drive leverage and op margin as we get the strong top line growth. If you go back to 2019, we were kind of in that 44-ish percent range. We ended last year at just over 47%. I think that's a pretty strong proof point of our ability to continue to grow margins as we look forward on a percentage basis. I think obviously, as Chris talked about 2024, we've got some headwinds to work through, but feel really confident about our ability to continue to grow margins over time. Mike Cieplak: Our next question is from David Tarantino with Baird. David Tarantino: Hi. Good morning. My question is on the impacts you're seeing in the Middle East. I guess two questions. One, could you help to quantify your estimate on how much that impacted your sales in the fourth quarter? And then secondly, could you comment on the health of your franchisees in the areas that have been most impacted and whether you think some temporary assistance will be needed as you move through 2024? Chris Kempczinski: Hey, David, it's Chris. Just -- I'll do a couple of things and then let Ian clean up whatever I missed. But we're not going to get into specific numbers on the Middle East. But suffice to say, as you see in our IDL results, you can infer that the impact is meaningful, as I said als”