“We now expect $0.11 of EPS of headwinds related to ForEx impact for the year versus $0.09 in our prior outlook.”

In context

“s versus our prior outlook of 10% plus and the original outlook of high single-digits. Note, our free cash flow outlook remains unchanged at $3.3 billion, given $400 million in cash taxes related to the sell-down and exit of our KDP position. In terms of key assumptions we continue to expect a double-digit inflation increase for '23, driven by elevated cost in packaging ingredients, labor and lapping favorable commodity hedges in 2022. With respect to interest expense, we now expect $380 million for the year, given recent coffee asset monetization and term-loan reductions. We also expect to end the year around mid-twos in terms of leverage, based on current conditions. As a reminder, given the liquidation of our KDP position in mid-July there will be no dividend income recorded enough to. We now expect $0.11 of EPS of headwinds related to ForEx impact for the year versus $0.09 in our prior outlook. The outlook revision reflects our increased confidence in the year. Ongoing resilience of consumer consumption in our categories, relatively benign elasticities, continued brand reinvestments, and completion of pricing in Europe as well as health of our emerging markets. This current outlook does not consider a material deterioration of geopolitical environment surrounding some areas of our business. With that, let's open the line for questions. Operator: [Operator Instructions] And we'll take our first question from Andrew Lazar with Barclays. Your line is open. Andrew Lazar: Great. Thanks so much. Appreciate it. First off, Dirk, we've heard so far from a bunch of food companies that have reported earnings of some, maybe very recent changes in things like consumer behavior, retailer inve”