SFNC -2% to 2% China market -15% to -10% TOTAL COMPANY FINANCIAL METRICS Net sales Flat to 3% Operating margin before charges / gains 16.5% to 17.5% EPS before charges / gains $4.15 to $4.45 Cash flow from operations Around $680 million to $720 million Free cash flow Around $580 million to $620 million Cash conversion Around 115% to 125% SEGMENT FINANCIAL METRICS Water Innovations net sales Flat to 4% Water Innovations operating margin before charges / gains 23.5% to 24.5% Outdoors net sales Flat to 3% Outdoors operating margin before charges / gains 16.0% to 17.0% Security net sales Flat to 3% Security operating margin before charges / gains 16.0% to 17.0% OTHER ITEMS Corporate expense $158 million to $160 million Interest expense $114 million to $116 million Other income / (expense) Around $6 million Capex $100 million to $140 million Tax rate 24.0% to 24.5% Share count 124.0 million to 124.5 million For certain forward-looking non-GAAP measures (as used in this press release, operating margin before charges / gains on a full Company and segment basis and EPS before charges / gains), the Company is unable to provide a reconciliation to the most comparable GAAP financial measure because the information needed to reconcile these measures is unavailable due to the inherent difficulty of forecasting the timing and / or amount of various items that have not yet occurred, including the high variability and low visibility with respect to gains and losses associated with our defined benefit plans, which are excluded from EPS before charges / gains, and restructuring and other charges, which are excluded from operating margin before charges / gains and EPS before charges / gains. Additionally, estimating such GAAP measures and providing a meaningful reconciliation consistent with the Company’s accounting policies for future periods requires a level of precision that is unavailable for these future peri

later in the release …

the item shown at left

other guidance in this release

Text is the filed exhibit, verbatim.