and Peter, morning, good you, Thank everyone.
a assess license can Ex-L&S, revenue making progress ex tied is years. be uneven outside of we and and the profit allow total growth in support discussion today are recognition revenue portion the reported on As currency discuss constant or our currency in constant renewal ECS slides quarters between will to the will which reminder, and as timing, revenue and supplemental excluding I also will investors I and website. my information reference segment growth, both only. provide to posted to where license
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to discuss now Turning year. for financial Slide I will the our guidance XX, full
rates growth to XXXX, growth of positive X.X%. revenue X.X% of exchange constant negative on We foreign positive expect reported total XX, January company X.X% based in which revenue positive to currency, X.X% equates to
and assumes approximately currency growth Our of support to range revenue X% constant license approximately of X% million. and revenue growth Ex-L&S $XXX
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quarter. as significant legal, a owed payments cash the fourth environmental, settlement one-time reflects negotiated expected $XX conversion favorable restructuring million in part includes the outlook and which cash in positive net other $XX remaining legal be pre-pension a Our are as improvement the free to us of collection of flow million, to
settled payments other legal expect matters this in also and payments to reduction year. levels and elevated quarters of prior cost several have our We contributing lower
cash outlook $XX of Our assumption $XX capital taxes approximately Cash refinancing. of million interest interest million, assumes any approximately about expenditures of and include net not does cash of million. payments $XX
monitoring However, favorable with we take to banking advantage prepared refinance be our in XXXX. partners of any opening credit to are market along to opportunistically conditions
majority related in is be FX currency. a which $XXX more low of of The million to decline million, quarter, a due constant in the currency expected at specifically benefit previously year-over-year is to year-end, to to Ex-L&S $XX a expected equating decline the exited impact revenue settlement prior than includes approximately the the of constant Looking single-digit first favorable relative contract. Ex-L&S prior year to the
prior joint slight $XX revenue expect approximately all year. IPSL renewal from also compared timing, be is to margin and the a revenue expected $XX reported on venture, is quarter which our has X million million decline L&S We Ex-L&S to first in in within other. Based
Full with half is expected half lowest quarter back first expected half. a in the L&S of revenue back approximately quarter and year. approximately L&S to First the be be is to split of weighted the our XX% year in XX%
Given and XX% renewal of operating L&S a decline timing a company impact to total FX, the cadence reported constant or of margin. in this currency and low single-digit of the non-GAAP approximately revenue X% translates
color in not in current that do to the wanted financial flow or see beyond provide year. pension for we increase light pre-pension obligations next improved on potential guidance cash touch free of we I achieving flow cash While year, expected path the the
expect XXX incremental to margin are come profit momentum. cash new We gross delivery of business optimization much points basis we the our from accretive gross from flow resulting where annual Ex-L&S solutions, of approximately targeting expansion and increasing in
ability demonstrated gross will that have to We improvements profit deliver and years expect to past X so. we do continue these our
profit incremental million of $XXX expectation We L&S some also anticipate gross in L&S our XXXX in revenue. based on
In we further SG&A. addition, expect in improvements
offset I expect for our free to restructuring This profitable baseline refinancing an interest largely As further $XX a reimbursement approximate environmental would increase reduction payments, we in in assuming An costs be million reminder, our to by pathway a cash environmental XXXX a also of payments. in and XXXX. the back turn fund growth. other and that, to will should us the pension contributions flow
With call organic Peter. future investments pre-pension needed lead in
