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E-cigarettes are battery-powered devices that allow users to inhale or vape into their lungs aerosolized liquid that contains nicotine, and many vaping devices also can be used to vaporize marijuana

At the current rate of deleveraging, driven by both debt reduction and increasing earnings (a mix of top-line growth and margin expansion from sales mix, price take, and disciplined cost rationalization), it is likely that repurchases resume much earlier, contingent on reinvestment needs in New Categories, perhaps as early as H1 2024

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