“This range represents an adjusted diluted EPS growth rate of 4% to 7% from a $4.61 base in 2021.”

In context

“We demonstrated this commitment in the first half by acquiring intellectual property and other assets for a multi substrate heated capsule technology from Poda Paying approximately $3.3 billion in dividends and repurchasing 21.4 million shares, totaling $1.1 billion. We have approximately $750 million remaining under the currently authorized $3.5 billion share repurchase program, which we expect to complete by the end of this year. Our balance sheet remains strong. And as of the end of the second quarter, our debt-to-EBITDA ratio was 2.3x. In August, we expect to retire $1.1 billion of notes coming due with available cash. And lastly, our financial plans for the year remain on track and we reaffirm our guidance to deliver 2022 full year adjusted diluted EPS in the range of $4.79 to $4.93. This range represents an adjusted diluted EPS growth rate of 4% to 7% from a $4.61 base in 2021. With that, we'll wrap up and Billy and I will be happy to take your questions. While the calls are being compiled, I'll remind you that today's earnings release and our non-GAAP reconciliations are available all on altria.com We've also posted our usual quarterly metrics, which include pricing, inventory and other items. Let's open the question-and-answer period. Operator, do we have any questions? Operator: [Operator Instructions] Our first question comes from Chris Growe with Stifel. Chris Growe: Billy, I have a question for you, and you made a good point about -- it's clear we're at a very pivotal moment for this category. I was hoping to get just a better perspective from you and how you're investing today to be able to internally develop RRP, reduced risk products. You've got some un”