“We've been proactively accelerating our revenue growth management, and productivity levers to offset some of this pressure as we look out to next year.”

In context

“we are already seeing. While there are puts and takes to consider from the pandemic looking into next year, we're confident in the underlying top line trajectory supported by our transformation work, our innovation agenda, and a more efficient and effective approach to marketing. Along with this ongoing momentum in revenues, we also expect to see some higher costs. We are not immune to the commodity inflation that has been impacting the world for the better part of 2021 nor the rapidly changing environment. We've been successful with hedges that were put in place to mitigate the impact of input cost inflation and those will begin to roll off in 2022. Based on current rates and hedge position, we'd expect commodity inflation having mid-single-digit impact on our cost of goods sold in 2022. We've been proactively accelerating our revenue growth management, and productivity levers to offset some of this pressure as we look out to next year. And we're closely monitoring the moving parts in the supply chain to ensure we are well-positioned to meet demand. Moving to marketing dollars, we'll continue to invest purposefully in our brands and markets to support top-line growth, with spend more heavily weighted towards consumer-facing activities. Regarding currency, if we were to assume current rates and our hedge position, there would be an approximate 2 to 3 points currency headwind to revenue, and a 2 to 3 point headwind to earnings for the full year 2022. Of course, volatility remain and several factors could have an impact on our currency outlook between now and February. Overall, as vaccinations continue to progress globally, we are in a better position today to navigate this environment and we feel good about the potential f”