Looking Ahead - Thoughts for 2023
Appendix B
Non-GAAP Reconciliation
2023 financial outlook
Forecasted Growth - GAAP 1
Litigation provisions
Special Items
3
2
Non-GAAP Growth
4
Currency impact"
Acquisitions 5
Net Revenue
Low-teens
2023 vs. 2022
Increase/(Decrease)
Operating Expenses
Mid-single-digits
4%
-%
1%
Low-end of low-
Low-teens
double-digits
-(1)%
-0%
(0-1)%
High-end of
low-double-digits
High-end of high-
single-digits
(1)%
Non-GAAP Growth, currency-neutral, excluding acquisitions
** Not applicable.
1 GAAP FY2023 forecast versus FY2022 reported results.
Impact of FY2022 provisions for litigation ($356M).
Impact of FY2022 Russia-related impacts ($30M) in net revenue and ($67M) in operating expenses.
4
Represents the projected translational and transactional impact of currency and the related impact of the company's foreign exchange derivative contracts designated as cash flow hedging instruments.
5 Acquisitions completed after the beginning of 2022.
January 26, 2023
13
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