“This includes the upper end of our 3% to 5% range for organic net revenue growth, which continues to factor in ongoing customer disruption in Europe and softer growth in parts of the U.S.”

In context

“ong growth over the past several years with very durable volume and elasticity despite significant pricing, particularly as we have some of the strongest brands in the category. However, we will remain agile in our approach to pricing in order to balance the need to offset inflation with the need to maintain solid volume dynamics. This means we will protect critical price points such as low unit price and key thresholds across our footprint. We also remain confident in our supply chain. Supply chain remains priority 1. And we are confident in our supply chain and that of our partners with ongoing work streams to minimize risks. Turning to our outlook on Slide 19. Our outlook for 2024 remains unchanged. We continue to expect on-algo delivery for revenue, earnings per share and cash flow. This includes the upper end of our 3% to 5% range for organic net revenue growth, which continues to factor in ongoing customer disruption in Europe and softer growth in parts of the U.S. Most of our key assumptions remain consistent with what we shared with you in our last call. We continue to expect a high single-digit inflation in '24. Although the vast majority of pricing has been landed in Europe, we continue to expect some level of customer disruption in Q2 associated with our annual price negotiation process. Interest expense is now expected to be approximately $300 million for the year. We are expecting $0.10 of EPS headwinds related to ForEx impact. In terms of tax rate, we continue to expect an adjusted effective tax rate in the mid-20s. Share repurchase is expected to be $2 billion with an opportunistic approach. With that, let's open the line for questions. Operator: [Operator Instructions] We'll take our first question from Ken Goldman with JPMorgan. Ken”