“We continue to expect an effective tax rate of 19.5% in 2022.”

In context

“losely for signs that indicate this may change. We remain ready to adapt. We're using a dynamic resource allocation framework to ensure our investments are directed towards country category combinations that drive the highest growth, thereby maximizing our returns. And we are working closely with our bottling partners to effectively navigate whatever comes our way. With this backdrop, this morning, we are raising our top line and currency-neutral EPS guidance. We now expect organic revenue growth of 12% to 13% and comparable currency-neutral earnings per share growth of 14% to 15% versus 2021. Based on current rates and our hedge positions, we now expect currency to be a 6-point headwind to comparable net revenues and a 9-point headwind to comparable earnings per share for full year 2022. We continue to expect an effective tax rate of 19.5% in 2022. And 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. There are some considerations to keep in mind for 2022 that we factored into our guidance. While our shipments are currently behind unit cases, we expect these to run in line for the full year with the catch-up expected in the fourth quarter. We now expect that the direct impact of the Ukraine conflict and the resulting suspensions of business in Russia, will be approximately $0.03 to comparable EPS. Based on current rates and our hedge positions, we now expect commodity price inflation to”