“But whatever we've seen in terms of launches, is built into the two to three guidance we see next year.”

In context

“So year one sales on these products are going to be somewhat light and it will grow over time over the next several years. More importantly, as we grow our NPI launches next year by double-digit, we shift to more what I call higher octane or Class IV type products, which have more sales capability. We'd likely see more impact on the top-line from these launches. It's an important dimension. I think the team has built momentum. It's part of the governance process. It's a lot of -- it's the enthusiasm, the team. Some of it is shifting some resources around. We added 50 people in Q4 and we moved about another 100 people into R&D development in the quarter. So we're on the right track. This is a good sign. We've got to see it turn into a reasonable and substantial margin and income over time. But whatever we've seen in terms of launches, is built into the two to three guidance we see next year. Jeff Sprague: Great. And then maybe just one for Anurag. A lot of conversation last year as we were all trying to fine-tune our models on kind of the restructuring versus stranded costs and the like, just wonder within that $0.70 to $1 -- $0.70 to $1 bridge item, Anurag, you could give us a little bit of granularity on restructuring investments and stranded costs in particular. Anurag Maheshwari: Okay. Good morning, Jeff. Sure. Let me do that. And probably what I'll do is I'll break the pieces to the bridge. Yes. So at the midpoint of our EPS guidance, we are growing 10% to 14%, excluding the non-op items, which is quite strong relative to the midpoint of organic growth. So there are three factors for that. One of them is sales volume, which creates significant volume leverage as well as”