you, billion to on net increase Thank a an XXXX. quarter represents of reported sales compared John. quarter fourth Fourth of in $X.X basis XX% the
double-digits, our the In of X largest as company, Our again U.S., net our China geographic while the were once sales a diversity. sales Vietnam Mexico were showed up performance up for down. strength net the sales India and and fourth XX%. net quarter markets, Yet, had
$X.XX. $X.XX diluted share we $XX.X of to share, and earnings million income. now include reported and of that Note adjusted the had of our Currency be or an For a fourth $X.XX. per China per adjusted income the impact impact quarter, unfavorable grant headwind continued approximately net earnings of
include related continue million, year of unfavorable related third COVID-XX of from being delivery foreign a home costs to currency, The year was of to to freight been growth largely delivery, Reported and periods well home impact reported to The the as for expected XX.X% result XXXX XXXX. Adjusted net fourth increased updated is SG&A the approximately of and member versus increase the fourth points XXX income the orders in gross the and negative inventory XX.X%, as adjusted and basis XXXX. have write-downs, the second million. results China respectively. $X.X quarters Fourth grant of earnings period. decrease a shifted as by XX.X% driven from grant by compared consistent to decrease includes prior in For the sales were pickup adjusted with to as percentage quarter of of income. cost sales impact quarter expenses prior China margin all of $X approximately program quarter to China
COVID-XX Excluding China result and fourth of member decrease delays, to largely points member the in promotion as XXX quarter pandemic. favorable which SG&A the of due to event of a basis events and net as sales XXXX, due was reformatting adjusted a to XX.X%, payments, and percentage was cost a approximately of cancellations promotions
approximately unfavorable reported our rate fourth country our for which year-to-date and within the XX.X%, quarter changes tax was rate our was adjusted due and higher was in fourth tax was to XX.X%, rate effective tax our than expectations. Our mix effective quarter
of reported per $X.X for XX% of of compared or adjusted from XX%. was related Turning million $X.XX sales billion per the the XXXX currency the adjusting currency grew was constant China for year, compared earnings basis, increased approximately by impacted growth million exchange grant net $XXX.X basis, $XXX or The adjusted full year year to income $X.XX approximately and foreign was reported fluctuation. XXXX. sales and million, On approximately on for to diluted expenses China share increased in share XX% share $X.XX foreign to reported net reported XXXX. impact net per income per program. a Venezuela, of income net share, full diluted year includes $XX.X negatively million diluted a full the $XX.X $X.XX to XXXX EPS
of year rate approximately adjusted points XX.X%, which of tax XXXX basis XX.X%. improved rate adjusted Our from our tax XXX full
for as guidance. are updating full XXXX guidance issuing XXXX the We first year well our quarter as
tailwind the basis the in year. estimate be range sales currency to versus which approximate prior first growth, an includes XX.X% XXX points X.X% quarter, net to we the For of
and diluted to XXXX. range be EPS include EPS First to compared $X.XX. in Reported the reported of benefit a adjusted $X.XX and quarter of of a is range of first $X to EPS a be currency $X.XX, estimated $X.XX quarter to diluted diluted projected adjusted to in
sales net to basis, reported tailwind X.X% which growth a slightly For range to includes are X% of of to to of net on to currency. approximate growth Constant due the our currency XX% X.X% from basis in be XX.X% a estimates an range we the are point increasing full sales year, XXX increased range a to previous XX.X%.
EPS with raising in driven of $X.XX equity the guidance early benefits impact movement, of along grant repurchases share guidance January. guidance are favorable diluted EPS a $X.XX, from for expenses $XXX any is of and We completed including prior repurchases, range tax we XXXX share share along The to $X.XX. primarily year excess the growth $X.XX program, income versus impact exercises. repurchase to the million diluted China EPS to future future the related $X.XX range China and EPS raise a excludes reported of to with full adjusted adjusted currency to by
repurchase our activity. Turning to capital cash share flow and structure
Operating XX% share a little drawdown XXXX. business to the end billion our $XXX XXXX. and substantial for flow grew in repurchase cash. hand contributed cash of approximately January, in to This on of on have $X Our of Adjusting flow. cash the to revolver, over continues $XXX currently completed generate we million compared at cash million
month, John new this approved $X.X sheet, B existing facility to $XXX to million mentioned, announced by year authorization. XX As that our basis share balance an X repurchase points. we credit rate Loan amendment the Related Board reduces the Term the the billion earlier interest
to our costs a focus interest future principal concludes approximately remains deliver to of as payments, lower key will questions. please the maturity. our company for and save our Continuing rate cost the structure remarks. to This capital line improve $X the value million of part open interest overall through prepared Operator, strategy transaction the in our the Excluding shareholders.
