| (in millions, except percentages) | Other Financial Metrics | ||
| ACV | $1,975.0 - $2,000.0 | ||
| ACV Growth Rate | 5.6% - 6.9% | ||
| ACV Growth Rate — Constant Currency | 12.0% - 13.4% | ||
| Operating cash flows | $570.0 - $600.0 | ||
Despite an ongoing volatile macroeconomic environment, the updated FY 2022 guidance reflects an operational raise on ACV, revenue, diluted EPS and operating cash flows driven by the underlying strength of our business model and market position. Offsetting this outlook, persistent and meaningful U.S. Dollar strengthening in exchange rates continues to drive unprecedented headwinds. As a result, the guidance assumes additional incremental adverse impacts from currency, primarily driven by substantial weakening in the Euro and Japanese Yen.
The impact of currency on our results continues to be significant and driven by the macroeconomic environment. The underlying foundation of our business remains strong, and we continue to see momentum. The chart below captures the drivers of the update to our last guidance provided in early August:
| (in millions, except per share data) |
Mid-point of
Guidance in August |
Incremental
Operational Performance |
November mid-
point of Guidance at August Exchange Rates |
Currency
Fluctuations from August to November Guidance |
November mid-
point of Guidance at Current Exchange Rates | |||||||||
| ACV | $ 2,000 | $8 | $ 2,008 | ($20) | $ 1,988 | |||||||||
| Revenue | $ 2,030 | $12 | $ 2,042 | ($24) | $ 2,018 | |||||||||
| Diluted earnings per share | $ 7.69 | $0.12 | $ 7.81 | ($0.17) | $ 7.64 | |||||||||
| Operating cash flows | $ 590 | $2 | $ 592 | ($7) | $ 585 | |||||||||
Additionally, when compared to the 2021 currency rates, our full-year 2022 guidance is negatively impacted on ACV by approximately $120 million and on operating cash flow by approximately $40 million.
