“And then by the time we get to year three, I would expect it to be more neutral from an influence standpoint.”

In context

“mpuses, being back to in-person interaction, getting on planes and that’s a bit more reflective of a normalized operating environment. So that’s what I would say, think about maybe the second half of 2022 as a bit more of a normalized environment. As we think about margins in the context of Figma and the transaction, we talked a couple -- about a couple of things. We talked about this is about growth. This is delivering that growth in a disciplined way. So when I think about operating margins in that context, we talked about the second half of 2022 being that baseline more normalized run rate. And if I think about the first couple of years post close, year one, year two post close. Think about margins that are maybe 1 point to 2 points delta versus where we would be on a standalone basis. And then by the time we get to year three, I would expect it to be more neutral from an influence standpoint. And again, I also want to register the point that I mentioned earlier in Q&A. As we get past year one, we are going to start growing EPS faster than our revenue growth profile and so we feel good about that inflection point and driving it in a disciplined way. When we look at GAAP operating margins, obviously, you will see a bigger delta in the near-term. To account for the stock-based compensation, we really view that stock-based compensation to incentivize the employees to stay with the company and unlock those growth potentials and you will see that amortize over a four-year period consistent with our equity programs and then we will be back to a more normalized run rate after that amortization period. So you will see more impact on the GAAP side and we feel pretty good about the traje”