“This leads to guidance for organic sales growth in the range of 4% to 5% for fiscal ’24.”

In context

“ct a $400 million after-tax impact. We still face above normal levels of wage and benefit cost inflation in our cost structure and higher costs for third party services. In addition, we expect below-the-line impact from higher net interest expense to be a roughly $200 million after tax earnings headwind. With this context, I’ll move to the key guidance metrics. We expect global market value growth in our categories to moderate back towards a range of around 4%, with the drivers of market growth normalizing as we move through the year, pricing becoming less of a driver and volume returning to modest growth. With the strength of our brands and commitment to keep investing in the business, we continue to expect to grow above underlying market levels, building aggregate market share globally. This leads to guidance for organic sales growth in the range of 4% to 5% for fiscal ’24. On the bottom line, we expect EPS growth in the range of 6% to 9% versus fiscal year ’23 EPS of $5.90. This guidance equates to a range of $6.25 to $6.43 per share, $6.34 or up 7.5% at the center of the range. With a three-point headwind from foreign exchange, this outlook translates to 9% to 12% EPS growth on a constant currency basis. We expect adjusted free cash flow productivity of 90% for the year. This includes an increase in capital spending as we add capacity in several categories. We expect to pay more than $9 billion in dividends and to repurchase $5 billion to $6 billion in common stock, combined a plan to return $14 billion to $15 billion of cash to share owners this fiscal year. Top line, bottom line and cash guidance for fiscal ’24 all consistent with our long term algori”