“Year-to-date Other had an operating loss of $28 million which is in line with our full year expectation of flat to a loss of $25 million.”

In context

“of the year performance, we now expect our full year non-operating expense to be in the range of $50 million to $75 million versus a prior range of $75 million to $100 million. A quick comment on corporate and unallocated and other before moving on to cash flow, Q2 corporate and unallocated sales were $86 million with a $2 million adjusted operating loss. Year-to-date, corporate and unallocated sales were $112 million with an adjusted operating loss of $73 million. This is in line with our full year anticipated sales range of $225 million to $275 million with a forecasted adjusted operating loss in the range of $125 million to $175 million. Our Other category had operating income of $37 million which reflects the level of activity and effort to support the successful spinout of Solventum. Year-to-date Other had an operating loss of $28 million which is in line with our full year expectation of flat to a loss of $25 million. Please turn to Slide 6. Second quarter adjusted free cash flow was $1.2 billion. Our second quarter performance was driven by strong operating income, lower CapEx spending partially offset by higher working capital. Adjusted capital expenditures were $250 million in the quarter as we continue to invest in growth, productivity and sustainability. During the quarter we returned a total of $800 million to shareholders split equally between dividends and share repurchases. And finally, net debt at the end of Q2 stood at approximately $3 billion. These strong results build on our track record of robust cash generation. For the first half of the year we have generated $2 billion of adjusted free cash flow. Our strong capital structure continues to provide us the financial flexibility to invest”