| (in millions, except percentages) | Q4 QTD 2022 | Q4 QTD 2021 | % Change | % Change in Constant Currency | |||||||
| ACV | $ | 818.0 | $ | 755.4 | 8 | % | 13 | % | |||
| Operating cash flows | $ | 174.0 | $ | 101.7 | 71 | % | |||||
| Unlevered operating cash flows | $ | 181.1 | $ | 103.6 | 75 | % | |||||
| (in millions, except percentages) | FY 2022 | FY 2021 | % Change | % Change in Constant Currency | |||||||
| ACV | $ | 2,031.7 | $ | 1,870.7 | 9 | % | 14 | % | |||
| Operating cash flows | $ | 631.0 | $ | 549.5 | 15 | % | |||||
| Unlevered operating cash flows | $ | 648.1 | $ | 558.5 | 16 | % | |||||
ACV is a key performance metric and is useful to investors in assessing the strength and trajectory of our business. ACV is a supplemental metric to help evaluate the annual performance of the business. Over the life of the contract, ACV equals the total value realized from a customer. ACV is not impacted by the timing of license revenue recognition. ACV is used by management in financial and operational decision-making and in setting sales targets used for compensation. ACV is not a replacement for, and should be viewed independently of, GAAP revenue and deferred revenue as ACV is a performance metric and is not intended to be combined with any of these items. There is no GAAP measure comparable to ACV. ACV is composed of the following:
