“On other income and expenses, in Q1, we expect an expense of approximately $120 million, given the prevailing interest rates and debt levels.”

In context

“erage over the medium term consistent with how we run our overall business. Now turning to the first quarter of 2025. Year-over-year net revenue growth is expected to be at the low teens range on a currency-neutral basis, excluding acquisitions. Acquisitions are forecasted to have a 1 to 1.5 ppt impact to this growth rate, while we expect a headwind of approximately 3 ppt from foreign exchange for the quarter. From an operating expense standpoint, we expect Q1 growth to be in the low double digits range versus a year ago, again, on a currency-neutral basis, excluding acquisitions and special items. Acquisitions are forecasted to have a 4 to 5 ppt impact to this OpEx growth while we expect a tailwind of approximately 2 ppt from foreign exchange for the quarter. Other items to keep in mind. On other income and expenses, in Q1, we expect an expense of approximately $120 million, given the prevailing interest rates and debt levels. This excludes gains and losses on our equity investments, which are excluded from our non-GAAP metrics. Finally, we expect a non-GAAP tax rate in the range of 20% to 21% for the full year and approximately 20% for Q1 based on the current geographic mix of our business. A lower forecasted tax rate for Q1 as compared to the balance of the year is consistent with prior years due to expected discrete tax benefits related to share-based payments in the first quarter. And with that, I will turn the call back over to Devin. Devin Corr: Thank you, Sachin. Thank you, Michael. Julianne, you may now open the line for questions. Operator: [Operator Instructions] Our first question comes from Andrew Schmidt from Citi. Please go ahead. Your line is open. Andrew Schmidt: Hi, Michael, hey Sachin, thank y”