“And so when I net all of that out on a go-forward basis, you have got about an $0.08 per share headwind in each quarter.”

In context

“his. So, that’s what you see in the $87 million reduction in ARR as well as the $75 million reduction from a revenue standpoint, Q2 through Q4. So, if I take that revenue and I flow it through the P&L, that’s going to be about a $0.04 a share headwind per quarter for the balance of the year, Q2 through Q4. From a tax standpoint, we talked about an 18.5% non-GAAP tax rate. That’s a 1.5 point change versus where we were at FA Day. If I were to roll that through the P&L, that’s about $0.06 a share per quarter throughout the year. We were able to overcome that in Q1. And then when I look at the share repurchase activity, clearly the company took advantage of the current environment. And that’s going to create about a $0.02 a share benefit each quarter this year versus where we were at FA Day. And so when I net all of that out on a go-forward basis, you have got about an $0.08 per share headwind in each quarter. And again, like we said in Q1, we were able to overcome that headwind in Q1 and deliver above the expectations that we had set, and we are going to continue to orient towards growth. We are going to invest to lead, but if there is opportunities to do it in a disciplined way and overcome it on a go-forward basis, we will take it a quarter at a time and let you know what we see. Kash Rangan: Thank you, Dan. And Shantanu, just one final follow-up, the clear – I know that you want to talk about the Document Cloud and the Experience Cloud, but I remember fall of 2011, you have made a very bold transition to Creative Cloud subscription. You, in fact, outlined that you have a target of 4 million subscribers in fiscal ‘15, which seemed quite visionary back then, right? So, as you look at the infl”