“For the full fiscal 2023, we continue to expect operating cash flow to be in the range of $8.7 billion to $9.2 billion.”

In context

“to be in the range of 8% to 9% growth in local currency over fiscal 2022, which assumes an inorganic contribution of about 2%. We continue to expect business optimization costs of $800 million in fiscal 2023 to reduce EPS by $0.96. The gain on our investment in Duck Creek Technologies will increase EPS by $0.38. Our guidance for full year 2023 excludes these impacts. For adjusted op margin, we now expect fiscal year 2023 to be 15.4%, a 20 basis point expansion over fiscal 2022 results. We now expect our adjusted annual effective tax rate to be in the range of 23.5% to 24.5%. This compares to an effective tax rate of 24% in fiscal 2022. We now expect our full year adjusted earnings per share for fiscal 2023 to be in the range of $11.52 to $11.63 or 8% to 9% growth over fiscal 2022 results. For the full fiscal 2023, we continue to expect operating cash flow to be in the range of $8.7 billion to $9.2 billion. We now expect property and equipment additions to be approximately $600 million and free cash flow to be in the range of $8.1 billion to $8.6 billion. Our free cash flow guidance reflects a very strong free cash flow to net income ratio of 1.1 to 1.2. Finally, we continue to expect to return at least $7.1 billion through dividends and share repurchases as we remain committed to returning a substantial portion of our cash to our shareholders. With that, let's open it up so we can take your questions. Katie? Katie O’Conor: Thanks, KC. I would ask that you each keep to one question and a follow-up to allow as many participants as possible to ask a question. Operator, would you provide instructions for those on the call? Operator: [Operator Instructions] We'll go to the line of Lisa Ellis wit”