“Looking to the first quarter, we expect our constant currency revenue growth rate to be similar to the full year.”

In context

“nergies, which play out over time. We expect to realize about $500 million of operational spend run rate synergies by 2027. We continue to accelerate our productivity initiatives and now expect an incremental $1 billion of productivity savings this year. Driving $5.5 billion of annual run rate savings by 2026. Taking this all into account, we are confident in our ability to expand operating pretax margin by about a point in 2026. For free cash flow, we expect to grow about $1 billion in 2026. In line with our Investor Day model of high single-digit growth. Given the strong fundamentals of our business, adjusted EBITDA growth will be the primary driver of our free cash flow. Offset by similar factors as last year. Including cash tax headwinds, higher CapEx, and higher net interest expense. Looking to the first quarter, we expect our constant currency revenue growth rate to be similar to the full year. And for operating pretax margin, we expect about 100 basis points of expansion. With workforce rebalancing fairly consistent with the prior year. Our first-quarter operating tax rate should be in the mid-teens. We are excited about our prospects in 2026. Our growth accelerators portfolio mix, integrated value, and continued investment in innovation are driving sustainable revenue growth and strong free cash flow. As we shift toward a software-led business, and speed our pace of innovation, our growth flywheel continues to strengthen. We enter 2026 with solid momentum across our business, and remain focused on disciplined execution with unwavering focus on productivity. Enabling investing for the future and delivering value for our shareholders. Arvind and I are now happy to take your ques”