“This range includes first quarter net operating loss of approximately $65 million on a continuing operations basis. Beginning in April, transition service agreements costs plus a markup will be reimbursed to 3M, and therefore, we will generate modest income in the remaining 3 quarters of the year.”

In context

“ax restructuring charges of $250 million to $300 million that are weighted 70% to the first half of the year. We will continue to benefit from productivity and restructuring actions, partially offset by increased investments in the business as we progress through the year. Looking at below-the-line items, we estimate full year other expense net will be in the range of $75 million to $100 million, mostly weighted to the second half of the year. And our 2024 adjusted tax rate is expected to be in the range of 19% to 20% with the first half of the year coming in at the high end of the range. As Bruce mentioned earlier and detailed further on Slide 26 in the appendix, the new operating category named Other is forecasted to have a net operating loss of approximately neutral to $25 million. This range includes first quarter net operating loss of approximately $65 million on a continuing operations basis. Beginning in April, transition service agreements costs plus a markup will be reimbursed to 3M, and therefore, we will generate modest income in the remaining 3 quarters of the year. Finally, Corporate and Unallocated includes full year 2024 sales in the range of $225 million to $275 million for commercial agreements with Solventum beginning in April. We expect full year Corporate and Unallocated net operating loss in the range of $125 million to $175 million. These ranges include first quarter revenue of approximately $25 million and net operating loss of approximately $75 million. As we have previously discussed, we estimate annualized dis-synergies of approximately $150 million to $175 million. These costs were previously associated with Solventum and will now be allocated to Safety and Industrial, Transportation and Electronics and Consumer starting in April. Specific to Q2, we expect continued strong execution to drive operating performance. As disclosed in”