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Christopher Jackson
Christopher Jackson

Free [VERIFIED] Mature In Boots


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Noc Boots, the ever soulful NYC based rework and edit series has returned! Ten sultry cuts in honor of our commemorative tenth release. Featuring heavy weight rework artists Bonus Points, V4YS, Sould Out, Touchsoul, Hotmood, Tomas Malo, Chuggin Edits, Basement Love, Cloak Dagger and Kind Beats. Keep Noc'n those boots!


You will find a link to the webcast on our investor relations website at investor.walgreensbootsalliance.com. After the call, this presentation and webcast will be archived on the website for 12 months.


Thank you, Stefano, and good morning. Full year adjusted EPS was $4.74, a decrease of 20.6% in constant currency, mostly due to an estimated COVID impact of approximately $1.06. This result was at the upper end of our guidance range we provided at our third quarter earnings call. Adjusted EPS was $1.02 in the fourth quarter, compared to $1.43 in the prior year, a decline of 27.9% on a constant currency basis. The estimated COVID impact was approximately $0.46. Our Transformational Cost Management Program remains on track to deliver at least $2 billion of annual cost savings by 2022, and cash generation was strong. Operating cash flow was $5.5 billion with free cash flow growing 5.6% to $4.1 billion.


Turning next to cash flow. Full-year operating cash flow was $5.5 billion and free cash flow was $4.1 billion. Strong cash flow generation was mainly driven by working capital initiatives. Included in the results were one-time COVID-related government contributions, but these were fully offset by higher safety stock. Capital expenditures were $328 million lower than prior year, mainly due to project deferrals as a result of the COVID pandemic. Free cash flow increased $219 billion or 5.6% versus prior year despite estimated COVID impacts on adjusted operating income of around $1.2 billion. The growth in free cash flow was driven by a $1.4 billion improvement in working capital, largely due to optimization programs across both inventory and accounts payable. So, overall, it was a very good year for cash flow, and looking forward, we remain highly focused on cash generation and have a strong pipeline of working capital initiatives. 041b061a72


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