Guidance for the First Quarter 2024: ($ millions, except Per Share data) (1)
| Guidance Range | ||||||||||||||
| GAAP | Reconciliation | non-GAAP | ||||||||||||
| Low | Mid | High | Low | Mid | High | |||||||||
| Total Revenue | $ 3,025 | $ 3,125 | $ 3,225 | $ 3,025 | $ 3,125 | $ 3,225 | ||||||||
| Q-Q | -12% | -9% | -6% | -12% | -9% | -6% | ||||||||
| Y-Y | -3% | —% | 3% | -3% | —% | 3% | ||||||||
| Gross Profit | $ 1,698 | $ 1,772 | $ 1,846 | $(41) | $ 1,739 | $ 1,813 | $ 1,887 | |||||||
| Gross Margin | 56.1% | 56.7% | 57.2% | 57.5% | 58.0% | 58.5% | ||||||||
| Operating Income (loss) | $ 775 | $ 839 | $ 903 | $(219) | $ 994 | $ 1,058 | $ 1,122 | |||||||
| Operating Margin | 25.6% | 26.8% | 28.0% | 32.9% | 33.9% | 34.8% | ||||||||
| Financial Income (expense) | $(69) | $(69) | $(69) | $(3) | $(66) | $(66) | $(66) | |||||||
| Tax rate | 17.4%-18.4% | 16.4%-17.4% | ||||||||||||
| NCI & Other | $(7) | $(7) | $(7) | $(4) | $(3) | $(3) | $(3) | |||||||
| Shares - diluted | 259.0 | 259.0 | 259.0 | 259.0 | 259.0 | 259.0 | ||||||||
| Earnings Per Share - diluted | $ 2.21 | $ 2.41 | $ 2.62 | $ 2.97 | $ 3.17 | $ 3.38 | ||||||||
