“approximately $12 billion in cash from operations”

In context

“22. We continue to expect organic revenue growth of approximately 7% to 8% and comparable currency-neutral earnings per share guidance of 8% to 10% growth versus 2021. Based on current rates and our hedge positions, we are reiterating our currency outlook of a 2- to 3-point currency headwinds to comparable net revenues and a 3- to 4-point currency headwinds to comparable earnings per share for full year 2022. Additionally, taking into account our current understanding of recently issued regulations, we now expect an effective tax rate of 19.5% in 2022 versus the 20% that we had guided to previously. All in, we continue to expect comparable earnings per share growth of 5% to 6% versus 2021. And we continue to expect to generate approximately $10.5 billion of free cash flow for 2022 through approximately $12 billion in cash from operations, less approximately $1.5 billion in capital investments. To put this guidance in context, there are some considerations to keep in mind for 2022. The direct impact of the Ukraine conflict and the resulting suspension of business in Russia is estimated to be approximately $0.04 to comparable EPS. The recent increases in commodity costs are having an incremental effect. But based on current rates and hedge positions, we expect the commodity price inflation to remain in the range of mid-single digit impact on comparable cost of goods sold in 2022. Additionally, we see incremental cost pressure coming from areas like wages and transportation. The consolidation of the BODYARMOR finished goods business will continue to have a mechanical effect on margins. When it comes to capital allocation, ou”