Good morning and welcome to DXC Technology 2021 Investor Day. I'm John Sweeney, Vice President of Investor Relations. We're very excited to have you here today on this virtual platform where you're going to hear from this management team about DXC's opportunities and expectations. This morning, you will also hear our speakers go through our playbook on our transformation journey and how we are delivering excellence for customers and our colleagues. Before we get started, I'd like to note that on the right-hand side of the screen, there is some additional information, including speaker bios and a link to our corporate website. Please take some time to review our Safe Harbor Statement. We'll be making forward-looking statements today throughout the course of the Investor Day, and these have inherent risks and uncertainties. Please refer to our SEC filings for a list of these risk factors within those filings. Before I turn the call over to Mike Salvino, our President and Chief Executive Officer, I would like to kick the day off with a short video, and again, welcome to DXC Technology 2021 Investor Day. Every day, we deliver excellence for our customers and colleagues. We use the power of technology to deliver mission-critical IT services that move the world. Our customers entrust us to deliver what matters most. We are DXC. We do what we say we are going to do. We work as a team globally and locally. We believe in stewardship and building a sustainable company that supports our communities. We take care of each other and foster a culture of inclusion and belonging. We do the right thing and act with integrity. Delivering excellence for our customers and colleagues. We are DXC. Now of DXC. Today's name: DXC. Hamno DXC has. Nam de DXC. We are DXC. The video is awesome, and welcome to DXC's Investor Day. I hope you like our new brand and color. And you know what the best part of it all is? Our people selected the color. Gone are the days when people literally asked us, what do the letters DXC stand for? Well, now it's clear. DXC stands for Delivering Excellence for our Customers and Colleagues. The logo is innovative. It's a palindrome. And if you look closely, it has two embedded arrows pointing to the X to remind all of the women and men of DXC to deliver excellence in everything we do for our customers and colleagues. Also, you heard our colleagues recite our mission, along with our core values of deliver, collaborate, community, care, and do the right thing. Yes, all Ds and Cs. This is truly a new DXC. In a short bit, you will hear from a number of our customers that they too have seen the new DXC. Now, before we hear from some of our top leaders concerning how we will execute on our transformation journey in FY22, I think it's important to reflect on how we got here and also what we've achieved. We have been running a structured playbook, which is our proven methodology for how we transform a company to drive sustainable growth. Our playbook has three phases. The first phase is already completed. We did that in FY21. We called that the stabilization phase. Next is the foundation phase. This is what we will be focused on in FY22, building the foundation for growth. Finally, the acceleration phase takes everything we've done in FY21 and FY22 and scales it for growth. Now, let's discuss the FY21 accomplishments as I think we have totally delivered on all of our commitments. First, when you think about our colleagues, we moved from a workforce that was not engaged to one that is now engaged and inspired. Concerning our customers, we went from challenged accounts to building a level of customer intimacy where we are delivering, building strong partnerships, and being proactive with our customers. We changed the direction of revenues and margin from declining to improving. And in the market, we went from losing to winning, and we significantly decreased our debt, taking our balance sheet from highly leveraged to strengthened. Next is the evidence slide. I love this slide because all of the numbers and the arrows are going in the right direction, including the arrow at the bottom, which shows that we have paid down roughly $7 billion of debt. Now, back to the people box, this shows from a numbers standpoint, we made huge progress on our employee engagement scores. Next, when I think about customer intimacy, the perfect measure of that is the Net Promoter Score, which we again improved significantly. When we started measuring NPS well over a year ago, our score was minus 26, but today it's averaging 18, almost touching the industry best practice of 20- 30. The revenue and margin charts show that we have stabilized organic revenue on a sequential basis, and we consistently expanded margins. And finally, our book-to-bill improved from 0.9 in FY 2020 to 1.12 in FY 2021, which is clear evidence that we can win and are winning in the IT services market. Now, turning to FY22, you all know that we execute each phase of the playbook through a series of steps that we define as our transformation journey. The five goals of the transformation journey to complete the foundation phase in FY22 are: we will continue to increase our employee engagement score all while we continue to attract and retain our most talented colleagues. Next, we will stabilize year-on-year organic revenue in the range of minus 1% to minus 2%. Three, we will expand adjusted EBIT margin in the range of 8.2%- 8.7%. Four, we will consistently deliver a book-to-bill number of 1.0 or better with a nice mix of renewals and new work. And finally, under Ken's leadership, we will deliver a financial foundation that will increase discipline, improve cash flow, and also earnings power. Now, having said all that, let me turn to today's agenda. Today's agenda mirrors our transformation journey. You will meet six of our top leaders. First, you will hear from Mary, our head of HR, who will take you through how we are inspiring and taking care of our colleagues, next you'll hear from Jim and Steve. They will talk about how we're focused on our customers. Jim leads our Americas region. Steve leads our EMEA region. These are our two largest regions. Vinod, our head of global delivery, and Chris, our CIO, will then take you through how we are optimizing our costs by simplifying our organization, then you will hear from Michael, who leads strategy for DXC, how we are unique in each layer of the Enterprise Technology Stack, which is helping us seize and win in the market, and finally you will hear from Ken, who will discuss our numbers. Now, we will have two Q&A sessions, one after Michael presents and then the other after Ken presents. And with that, I hope you enjoy the day. And let me turn everything over to Mary. Thank you, Mike. My name is Mary Finch. I'm thrilled to be here today to talk with you about the first step of our transformation journey, which is inspire and take care of our colleagues. I will talk about our people-first strategy and how we are building DXC to attract and retain top talent, the talent that is fundamental to enable us to grow our customers and DXC. I joined in October of 2019 to lead human resources and to remake DXC to be the employer of choice. We've developed a people-first strategy that enables us to deliver excellence for our customers and our colleagues. I will share with you how we have been able to turn around employee engagement since Mike joined, moving from 56%- 72% in a very short time. I will walk you through our people-first strategy, talk to you about our leadership team, discuss the actions we have taken in response to what we have heard from our people, and share with you why we think this is an enduring change that we are driving at DXC. Our people-first strategy is anchored in three things: listening, seeking to understand further, and acting at pace. It sounds simple, but it isn't easy. When people feel they have not been seen or listened to, things can get to a really bad place. We firmly believe if you lose the people, you will lose the business. We launched our first global employee survey at DXC in November of 2019. We had to know the pulse of our people. And I'll share with you, when we received those results, we knew we had work to do. It was a really low score. We knew to best address their concerns, we needed the leaders in place to drive our change. There was a lot of change in those first six months. So we had to find leaders who represented the new DXC in order for us to solve the problems that we had for our customers and for our people. So let's talk about that leadership team that we put in place, and then we'll come back to the actions that we took. This is our leadership team. You can see that 75% of these leaders are new to DXC. Those are the boxes in purple. Our new leaders complement the strengths we found within the existing leadership in the company, and those are the boxes in green. We brought top leaders from the IT services industry and experienced leaders who have had time in the seat in their functions in public companies to join DXC. This is a can-do, sharp, well-oiled leadership team. On average, each member has over 25 years of experience in their fields. This is not a team learning on the job. We have deep experience, and we use that experience each and every day. It's important that our people see consistency in how we are all leading this company. Mike touched on this earlier when he talked about our core values. This team is unified in how we take decisions. We have one another's back. We believe in leaving the company better than how we found it. We believe in taking care of one another, creating an environment where we all want to work and one that is inclusive and where our people have a sense of belonging. This page is only the beginning. Behind each of these leaders is a team being built. We expect each hire we make to bring 10 more people with them, talent from their past successes and the market to be a part of this transformation journey. These leaders not only attract talent, but they can also retain the resilient and confident leaders that we are bringing in. In fact, today, when I look at our senior executive team, our vice presidents across the company, nearly 50% of those leaders have joined DXC after Mike became our CEO. That is a huge change in the leadership team driving this company. People in the market are drawn to DXC. They want to be a part of our transformation journey. They see the trajectory and feel the momentum, and they want to be in early with us to drive the change. So now that I've shared a bit about our leadership team, let's go back to focus on what we did with that feedback we received during our fiscal 2021. Our people told us that they wanted three main things. First, to be recognized for the results they were driving and the contributions they were making to the company. Second, they wanted to understand how and why decisions were being made in the company. And third, they wanted to know what's in it for them at DXC and why is DXC the company for them, specifically around their career growth and their development. These three things came up again and again on each of our surveys. Our first initiative was to embark on a Pay the People campaign. There was no regular pay review cycle in the company when we arrived. We fixed that immediately for our offshore talent and specifically for India in January of 2020. Following that, throughout calendar year 2020, we continued to review the base salaries of our people. In total, we adjusted over 47,000 of our colleagues' base pay, and those people were the ones doing detailed work for our customers. We asked, they told us they hadn't had pay reviews, and we took action. We did what we said we were going to do to Pay the People. In fiscal 2021, we then committed to paying the annual bonus when we delivered results for the company, and we did that just this month to over 45,000 people, most of them not incentive-carrying people. So they were not on a pay program, recognizing them through discretionary awards, their contributions. Through these actions, we're building trust with our people. And currently, we are introducing that piece that was missing, that annual salary process review. It happens every year. It will be predictable for them. It will occur as a part of the annual performance and reward cycle. So we are ensuring that every year our people, as a part of receiving their performance, their pay will be reviewed relative to market. This is the new DXC. In complement to these rewards initiatives, we also introduced a global recognition platform. This platform enables our colleagues to celebrate one another around the globe. We have seen huge adoption in this platform, and we're continuing to invest in the tool, all based on feedback from our people. This further demonstrates how we're seeking to understand what is important to our people and continuing to act at pace. The next area of focus was all about transparency. There was a pattern of cost-cutting, headcount reductions happening in DXC, and it caused a lot of concern for our people and a lot of anxiety. This was further compounded by the fact that nobody knew how long it was happening or why it was happening. To address this head-on, Mike and the leadership team began global town halls for our people, regular sessions. In these sessions, Mike shared business updates and spoke clearly and plainly with them about how the company was performing. We also ended each of these forums in a Q&A where Mike took straight on all the difficult questions. Nothing was off the table. And it's not just there. Each of the leaders is also following with their own regional, global business, and functional area town halls. We believe our people deserve straight talk and nothing less. We've had a very open and transparent set of leaders leading this company, and we are all tackling the difficult questions. We may not have immediate action, but we are addressing what is important to them in order to build this culture of trust. But we didn't stop there. We also realized that we needed to have multiple channels for our people to tell us what they think. In June of last year, we launched a channel called Speak Up. Speak Up is a channel for people to raise issues, raise questions, or concerns for our review. We had a very strong response to Speak Up, and so this channel remains in place today. Again, it's an example of the new DXC. In addition, we launched a simplification effort, again, creating a channel for our people to tell us where we can do better. We crowdsource ideas on better ways of operating and focused on removing those barriers so our people could deliver for our customers. We had thousands of ideas come in, and we are well on our way to taking those ideas and applying them to simplify our processes and systems to reflect one global company. The third key area that we took focus on is all about making DXC the place for our people to achieve their career goals. Our people were feeling stuck, not knowing what their next assignment or role might be, and often in fear of these headcount reductions. We needed to provide them with line of sight to their future opportunities. An example of where we tackled this best is in India. We hired two top-notch leaders, Nacho to lead our business there and Loki to drive the people agenda as a part of my team. Loki is one of my 10 leaders that I brought to DXC. Together, they've brought to life an integrated workforce model, planning and managing our pyramid with an eye on growing careers and creating career paths for our people, not just a cost analysis. We've built a renewed focus on graduate hiring, providing for more stretch assignments for our existing people, bringing development opportunities for people at all levels in technical areas, but also in their people skills so we have well-rounded leaders, and creating a culture of development for our teams. This is the new DXC. Through this change, we have reduced our attrition to be below market, and we have a fresh, energized workforce with 25% of our people in India new to DXC within the last year. We want our people to be the best sort of talent for our open roles, and we are making that a reality in India. We are proud of our results. As I mentioned earlier, we've seen our engagement increase by 16 points in a very short time. That index is measured based on two statements. I would recommend DXC as a great place to work, and I am happy to work at DXC. On Glassdoor, we've seen an increase in the CEO approval rating from 35%- 80% since Mike began as CEO. We see these internal and external proof points as a signal to us that what we are doing is working with our people. Why do we think we can sustain this trajectory and keep this momentum going? Leaders at the top are broad industry experts unified on delivering excellence for our customers and our colleagues. We are attracting top talent every day as we build that next level of leaders. We've recruited people from some of the best brands in the industry, and we're able to do this because we have a leadership team that can attract talent. It is awesome to see how many people want to join us. They see the great trajectory for DXC. They see great opportunity for themselves, and they want to be a part of this people-first strategy. We talk about people in our leadership team meetings at least once a week. For me, that's a company I want to be a part of. The people agenda is not a one item on the to-do list. It is core to our strategy. I'm excited about the progress we've been making on our transformation journey and by the significant impact we're making every day for our people. Now we'll move to the second step in the transformation journey, focusing on customers. When people are engaged, they drive customer intimacy, and that drives favorable outcomes. Let's hear firsthand from our customers how our people are doing at delivering excellence for them. It's not an overstatement to say that we wouldn't be flying without DXC. Everything our marketplace does, whether it's an insurer or a broker or a loss adjuster or a partner, is connected in one form or another to that relationship with DXC. DXC is obviously a critical relationship for us in terms of running our business. I have seen a new DXC, and it's more visible on the priorities or focus on us, the customer, and their people. Brighthouse is more proactive, and we can see DXC acting more proactive. And what more could I ask for? P&G, as a fast-moving $70 billion consumer goods company, has an extremely complex supply chain, and the digital backbone that supports this is equally complex. DXC supports this, and we need to ensure that those operations are available 24/7, 365 days a year so we can make and ship the product consumers need. Since 2015, DXC has been providing Deutsche Bank with enterprise infrastructure services, spanning kind of data center management, compute storage, etc. And really, that's where the majority of our critical applications that support the bank's businesses are being run from. Hey, that video was awesome. They're tough to come by. And to hear our customers talk about and describe what makes DXC unique is something that we don't take for granted. We know when we build customer intimacy, we earn their trust, which will lead to more work. That's why Steve and I are so focused on our customers every day. We expect to keep what we have, and we will win new work in traditional and digital. Hi, I'm Jim Brady, and I have the privilege of leading the Americas region. Very simply, my job is to wake up every day and focus on our customers, build partnerships, bring innovation, inspire our teams to find and drive value for our customers, and of course, to drive the P&L for the region. Hey, I've known Mike for a long time. I worked for him in the past, and I'm excited to be back on his team here at DXC. It's really motivating having the scale and the quality of the customer base we have. Over 250 customers in the Fortune 500, some of those great brands you just heard. What we are driving with our customers is to create deep relationships based off of trust and delivery excellence. It's in our DNA. It's what we do. It's who we are. It's what we know. And we're building that into our teams. And it starts with a focus on our people and our customers. In being an operator for many years, there's nothing more energizing than engaging with our customers every day, focusing on building those relationships and ultimately helping them to solve some of the most critical challenges. As we focused on stabilizing the business, we focused on the top 175 accounts, our platinum accounts, which are our top accounts that represent 65% of our revenue. It doesn't mean the other 2,500 weren't important, but when you're going through a transformation, you must focus, and we were laser-focused on our top accounts. This leadership team is relentless about proactively engaging with senior leaders at our customers, helping to shape their future and modernize by bringing innovative solutions, and we are listening with a much more rigorous Voice of the Customer process that's helping us to align and guide our overall partnership. Hey, this is what me, Mike, the rest of this leadership team, we've been doing for years, and we brought to DXC. We get out there. We talk with them. We listen, and we just flat out engage. We are earning their trust through our actions and by showing up and helping them to achieve their business objectives. Because we all know customers buy from people they know and they trust. You're also hearing our teams showing up today and not only taking care of our customers' existing infrastructure, which is mission-critical, but being proactive and talking with them about building the bridge to the future, moving them to the hybrid cloud as an example, and in the post-COVID world, we earned their trust by doing what we said we would do, and we're building that customer intimacy, which will enable growth. You'll hear from Vinod in a bit about the excellent job we're doing in delivery for our customers. It's what we term silent running. This is important and foundational for growth as the operations are stable and we're continuing to improve their environments where they don't have to worry about them falling over. As the leaders of our regions, Steve and I are focused on bringing relevant and compelling value propositions to our customers based on our capabilities across the enterprise technology stack, and we do this through having deep institutional knowledge of their environment. In addition, our goal is to keep our competitors away from our customers by providing proactive solutions to them. This is a completely new way of operating and something that we know works from our experience. As I turn to the Americas region, we have many great customers, and I'm excited to be engaged with such companies. This is what fuels me as I have a deep passion for finding and driving value for our customers, and I'm instilling that within our teams, working on changing our culture one by one. In Americas, we have 69 platinum accounts, and 29 of them are doing over $50 million a year. I think what is more compelling is the average tenure of those relationships is 12 years. We are demonstrating revenue stability, and now we're focused on growth. You heard some of our customer testimonials. I couldn't be prouder than to hear the words coming from some of those leaders, Francisco from Campbell's or Eric from Brighthouse and Maya from American Airlines in her opening statements. It's not an overstatement to say that we wouldn't be flying without DXC. This is a 20-year partnership where the future is even brighter. We're going to continue to help them modernize, achieve their business objectives, all the while helping them to reduce their costs. Then we heard from Laura from P&G discussing how we are critical to their complex supply chain by supporting the digital backbone, ensuring the operations are available 24/7, 365. And even when the demands on the systems are greater than ever before, we partnered alongside P&G to help navigate through the supply challenges to ensure the operations could make and deliver goods. And finally, the biggest takeaway from the videos and something that I hear from our customers regularly is we see the new DXC showing up. That's what gives me the confidence that the momentum we built in 2021 will continue in the future. Now, let me hand it over to Steve, who's the leader of our EMEA region. Steve? Thanks, Jim. And hi, everyone. My name is Steve Turpie, and I run DXC's EMEA region. And like Jim, I am 100% focused on our customers. So look, what you heard from Jim in terms of what we are doing is pretty special. Unlike the Americas, I have a great platform, and it continues to amaze me that we have this many accounts, including 72 platinum accounts in EMEA. They've been with us for an average of 10 years, and this includes 32 customers that pay us more than $50 million a year. Now, on the video we just played you, you heard from some of these customers. So you heard Gordon from Deutsche Bank talk about the fact that we provide mission-critical systems. This is the same message for the customers that you heard Jim mention a few moments ago. And look, COVID-19 has clearly demonstrated our ability to successfully show up. And when a customer tells you that what we do protects lives, it makes me very proud of what we do. John Neal from Lloyd's of London explained the extent of our work in underpinning the services provided to 480 individual insurance companies. Again, I could not be more proud to support John in creating the new technologies that will underpin the largest insurance market in the world for years to come. I don't take any of this for granted. It comes from showing up and bringing the best of our talent to our platinum customers. It's these relationships together with the other platinum customers that I am focused on. Look, it's an annuity stream that gives me confidence that we're stabilized, and now I'm focused on growing. You've heard Mike and Ken say previously that revenue is not running away from us anymore. These customers are not only staying with us, but they're also growing. So let me now turn to the operating model where we have to make sure that we are set up for success. And this is an important change. And it starts with the customer at the center of everything that we do. The entire organization, no matter where you sit, is geared up to ensure our customer success, and it is the account executives who manage the accounts. This is totally new. And then we've also invested in the technical sales consultants. Their sole job is to work with sales and delivery to support our customers. But the bigger thing that Jim mentioned two minutes ago is that our job is to bring the enterprise technology stack that you can see on the slide onto that customer account. That's how it works. And when Mike talks about delivering excellence for our customers, that is what we're doing. So the layers of the enterprise technology stack have scale. They're distinct. And most importantly, they're focused on addressing our customers' needs. And my job is to ensure that we bring the best DXC talent to our customer accounts. And responsibility for all of this sits with me and Jim in the regions, whether it is delivery, whether it is growing the top and the bottom line, or managing the customers and ultimately growing the businesses. And when we build customer intimacy and continue to be proactive, that puts us on the right trajectory, which then builds momentum. So if I summarize what Jim and I have talked about, you can see that we're making a significant investment in our customers. This is helping us further keep the revenue and get more work. You heard that we're focused on platinum customers. We are placing our most talented business runners into our accounts as account executives to assure that we are building customer intimacy. And then finally, we've deployed technical sales consultants to each of our platinum accounts with their sole focus to listen to our customers and bring the best ideas from our Enterprise Technology Stack. And look, we cannot do any of this unless we deliver, unless we are simplified in terms of how we operate both externally and with our customers and internally with our colleagues. And this is where I will finish, which is to say that the most important part of our relationships with our customers is to deliver, do what we say we were going to do. And that's where Vinod is supporting Jim and I to make sure we do exactly that. We very much appreciate that partnership. With that, I'll hand over to Vinod. Thank you, Steve. I'm Vinod Bagal. I lead DXC's global delivery, which means I'm responsible for making sure we build competitive solutions to take to market and deliver our commitments to our customers and DXC stakeholders. That is our employees and investors. Since I started at DXC along with Mike, I'm proud of what we have achieved. We have clearly delivered for our customers. We are scaling our delivery of footprint. We are executing on our cost optimization program, and we are innovating operations. Let me cover each of these areas in some detail. On delivery, as you can see, we have dramatically reduced the number of critical operational issues measured by P1 incidents. These P1 incidents could have impact on customers' business. However, when an incident does occur, we have improved mean time to restore to minimize its impact, thereby reducing our service-level penalties. The number of P1 incidents is down 54% per quarter. Mean time to restore has been improved by 17%. These and other delivery improvements have led to a reduction in service-level penalties from $20 million a quarter to less than $1 million in the last quarter. That's a 96% reduction. To put these improvements in context, we manage nearly 650,000 servers, almost 700,000 MIPS on mainframe, 3,000 petabytes of storage, and more than 7 million devices. The environments we manage are complex, a mix of different technologies, makes, models, and versions. On top of such environments, as you heard from our customers and also from Jim and Steve, we run some of the largest mission-critical enterprise applications in the world. As part of simplifying our delivery footprint, over the last 12 months, we have established Global Innovation and Delivery Centers, GIDCs. The largest among them is India, followed by the Philippines, Eastern Europe, and Vietnam. India and the Philippines give us scale and cost advantage. Our Eastern European centers cater to European languages and regulatory requirements. Our Vietnam center supports English, Japanese, Chinese, and French languages. We have hired 5,000 graduates in GIDC last year and plan to hire additional 8,000 this year. We have nearly half our delivery capacity in GIDC. We will continue to increase this ratio in the coming year by further reducing the capacity in our regional delivery centers. Our attrition is at or below industry average as we've been able to attract and retain talent. The next area is our cost optimization program. We've delivered in four key areas in FY21, and we continue to deliver in FY22. As you can see from the charts, every metric shows a positive step change. In the previous slide, I showed how we are simplifying our delivery footprint and scaling our GIDCs. One of the key benefits of simplification has been significant reduction in our real estate cost, and we have more to go. Next, contractor optimization. From our perspective, the ratio of employees to contingent labor should be 90/10. We have significantly reduced the number of contractors in the past year, and we have opportunities to reduce it further to bring it in line with the industry standard. We have improved our GIDC headcount by 22%, lowering our delivery cost, and we expect to increase the GIDC headcount by double digits in the coming year. The last level that I'll cover is automation at scale. The pilot program in the initial deployment of 6,000 bots has resulted in 1,600 FTEs' worth of effort reduction. In FY22, we expect to significantly scale this. This is a strategy we have effectively deployed in our past, and it works. Eliminating manual handoff helps with silent running. Silent running means that environments do not fail, which helps improve efficiency and makes DXC a trusted partner to run mission-critical systems. Finally, as part of delivering efficiency and resiliency, I want to introduce DXC's Platform X, our AIOp s platform based on proprietary data hub. Platform X auto-detects and self-heals incidents across the technology stack. This is unique in the industry. Again, to get to silent running, you want to address issues by correlating incidents across the technology stack before they become real problems. And Platform X does that for us. Our customers have told us that Platform X is unique in the industry for driving automation across the stack, which is powered by our proprietary data hub. This is not a surprise to us because Mike and I and the teams that we have assembled have the experience and expertise to develop this unique asset. We are all engineers, and we find this automation not only a key differentiator for our customers, but it is key to attracting new talent. People want to work with companies that have true engineers building innovative solutions. Now, let me share a short clip about Platform X. The need for secure, resilient technology won't change, but how we deliver it will. AI-driven autonomy will work hand in glove with human innovation to power the self-healing and silent running of IT estates. Engineers will finally escape the silo and see well beyond any specific technology layer. This new enhanced visibility across the enterprise technology stack will allow humans and machines to detect and resolve issues faster while automatically predicting and preventing problems. Introducing DXC Platform X, an intelligent automation platform delivering resilient, self-healing IT. DXC's experience running mission-critical systems for global enterprises gives us the data to fuel AI, empowering full-stack engineers to drive proactive and continuous improvements. When systems run silently, IT operations go from top of mind to out of mind, enabling IT to secure the present and focus on the future. Thank you for your time. Next, I'd like to introduce my friend, Chris. Thanks, Vinod. As your internal customer, we are super excited about the possibilities Platform X brings us. Hi all. My name is Chris Drumgoole, and I joined DXC just over a year ago as our CIO. For the last few minutes, you've heard Mary, Vinod, and others talk about how important our people are to DXC's success. I'm going to take a few minutes with you today to share how we are embracing tools and technology to simplify our business, support our colleagues, and help DXC operate in a more disciplined, cost-efficient manner. While most IT teams like to focus mainly on technology, here at DXC, we frame up our mission into three simple buckets. Treat our colleagues like our customers. Give them an amazing, consumer-grade experience so they can be more productive, more efficient, and happier, differentiating us in the market. Give our colleagues the right tools, technology, and processes to free them up to deliver excellence for our customers. Learn on ourselves first so that we can lead from the front from an R&D point of view, then use those learnings to help shape our offerings in the market, and make it easier for our customers to do business with us. Simplify the process and remove friction and cost from the experience. Blur the lines from where our customer ends and where we begin, making it simple and easy for our customers to come on board and grow with us. These are the areas that we focus on day to day and where we are placing our bets to simplify and differentiate DXC in the market. It's important to note that while we focus on these areas, we constantly work to ensure that we are delivering our technology as efficiently as possible. Investments in our technology help us simplify our operations, giving us the opportunity to unlock value and really address overhead costs. For far too long, companies have looked at their internal technology bill as simply a cost with no return, something that needs to be dealt with in order to make the business run. The industry uses words like users, logins, and licenses when they're really talking about a company's most valuable asset, its people. At DXC, we have made significant strides to changing this mindset, and we firmly believe the industry will follow. We look at everything we do through that customer-focused lens, asking ourselves if we would be amazed by this level of service if we were using this technology for our personal life or for our family. It doesn't matter that your IT people are happy and have green reports if your employees are miserable and your costs are out of control. We take that thinking a step further using consumer NPS methodology and tools to gauge how things are working. With scores coming in weekly, we can judge in near real time what is working and what is not. A disciplined, data-driven approach to where we should be doubling down to see real benefit and also to see where we can cut our losses early before spending foolishly. With that as our foundation, we have kicked off a transformation of our experience that has already yielded a 26-point swing in NPS in less than a year. A great accomplishment that we believe has a direct impact on our ability to attract and retain talent. Mary and her team can now brag about our virtual experience when they are in the recruiting process. I'd like to take you through a few of the key initiatives that have helped us achieve that result and will continue to help us simplify our business and optimize our costs moving forward. First off, there's DXC Gear. This is our program for delivering technology tools directly to the homes of our virtual workforce through a curated retail-like buying experience. DXC Gear is a foundational piece of our entire virtual work ecosystem, helping us drive true virtual work while improving outcomes. Second, our next-generation network program, leveraging software-defined network, Zero Trust security, and consumer-grade hardware to deliver the same network experience wherever our virtual team happens to be working from on any given day, while also dramatically reducing our costs and dependency on the traditional telecom players. This network approach severs our technical tie to the office, allowing us to optimize our real estate footprint while improving the experience. Next, a combination of simple, one-touch tools combined with our efforts to reduce the number of systems like payroll systems and ERPs that simplify our operation and make our colleagues' day-to-day life easier. They get one place to handle all their administrative functions, whether they're home, or in a café, hopefully the office, or a customer site. And at the same time, DXC gets reduced costs and a simplified operation, which enables true virtual work. A great example of one of these tools is our new time entry system. We are moving from dozens of legacy discrete systems to one unified global platform that is accessible wherever the team is working from. The pilot is live in two countries today and rolling out globally this year. Not only does it simplify life for our colleagues, but for the first time since the creation of DXC, we will have the ability to manage utilization and productivity in near real time across the entire org. This is a huge step in improving insight into our business, laying the foundation for Vinod, Ken, and our other leaders to continue to optimize cost and unlock value in our business. These efforts bring us back to where I started the conversation. We believe that happy, productive people lead to happy, engaged customers. By making smart investments in the way we work, the way we interact with our customers, and the way we take care of our colleagues, we are directly impacting our customer relationship, giving our teams the tools they need to grow them, and ensuring that our cost basis remains extremely competitive. As some of you may know, before coming to DXC, I spent years at GE, one of the largest technology buyers in the world. As GE CIO, I saw every shape and size of technology vendor. I saw what great suppliers looked like, and I saw vendors who couldn't get kicked out of the office fast enough. Chatting with my peer CIOs at other companies, we would often discuss what good suppliers really looked like and how they could really help our companies grow. The reality of our plan here at DXC is not complex. We are building the kind of supplier that I wanted in my office, that I wanted to tell my peers about. A company that does the right thing, creates real value for CIOs, and delivers excellence in everything we do. As I talk to my friends and peers now, it is great to hear that they are feeling our progress and seeing our momentum in the market. With that, now I'd like to turn the call over to Michael, who is going to take you through how DXC is winning in the market. Thank you, Chris. I am Michael Corcoran. I have the privilege to lead DXC strategy. My job is primarily three things. First, help set DXC strategy. Second, help implement and execute the strategy. And third, drive DXC's investments to ensure we are unique and we continue to win in the market. Today, I'm going to highlight why we are unique. You will also hear from our customers. They will bring our uniqueness to life. We are already seizing the market. We have proven that we can win in the market. I want to highlight four reasons. First, our capabilities mirror how customers think across the Enterprise Technology Stack. Second, we are one of the few players that have both scope and scale across the Enterprise Technology Stack. Third, we are one of the few players that can both do traditional and digital. For us, traditional is mainly ITO, and digital is cloud, security, and Analytics and Engineering. And last, when we have delivered traditional and strengthened customer intimacy, we have gotten more work in both traditional and digital. So let's bring our uniqueness to life. Let's start with Modern Workplace. It is a $2.7 billion business. It's the largest in the market. Distributed workforce demand is accelerating. We don't see this demand going away anytime soon. We do this extremely well. We can track, support, and secure all the technology of a customer. We have intelligence for how employees are feeling, and we do this through an improved employee experience. Let's hear from Microsoft. We are privileged to be their partner to deliver Modern Workplace solutions. Hi, I'm Justin Althoff, and I lead Microsoft's worldwide commercial business. I want to thank Mike Salvino for having me today to talk about our partnership with DXC. DXC brings their best-in-class professional and managed services to our Microsoft Cloud services across Microsoft 365, Dynamics 365, and our cloud platform we call Azure. This helps our customers transform at a faster pace than ever before. I'm especially proud of the work our teams have been doing together over this past year to deliver a more personalized, intelligent, secure, and modern workplace experience to help companies address the rapidly evolving business challenges and customer and employee needs. We're working together to make sure that the modern workplace experience really enables employees to seamlessly and securely work together anytime, anywhere, and on any device. We're really glad to be on this journey with DXC. We're a proud, proud partner and optimistic about how we will empower our customers in the years ahead. Our ITO, cloud, and security capabilities work together. They partner to help customers modernize and transform their IT, including moving to the hybrid cloud. We have scope and scale across these businesses. ITO is $4.7 billion, cloud is $1.5 billion, and security is $500 million. We are filling a void in the industry. We are modernizing traditional, and we are leveraging our expertise to build a bridge to the digital future. A common issue with digital transformation is when traditional goes down. Customers are coming to us to mitigate this and to transform them to the hybrid cloud in a secure manner. We will now hear from American Airlines and FedEx. We are privileged to support their IT needs, modernizing their IT, and moving them to a secure hybrid cloud. Hi, I'm Maya Leibman, the Chief Information Officer for American Airlines. The work that DXC does for us is vast, including running some of our most critical systems. As a 90-year-old airline, it's safe to say that we have a lot of legacy technology around. DXC is helping us dramatically modernize by getting us off of old mainframes and onto new and modern infrastructure, which eliminates years of technical debt and saves us a lot of money. But it's not just the infrastructure. DXC is also helping us modernize the code base of these legacy systems, which allows us to build pipelines and automation and generally be more nimble as we respond to changing business conditions. DXC is bringing us expertise in new technology, such as robotic process automation, or RPA, the next generation of data and analytics platforms, as well as helping us on our journey to the cloud. These efforts have also saved us a lot of money. And in the case of RPA, we have literally automated thousands of manual hours' worth of tasks. DXC is showing up in a new and modern way and being really proactive in helping us solve the challenges that we face. I'm confident that together, we'll be able to meet the challenges that come in the dynamic and complex airline industry. Thank you. The DXC vision of how they go about modernizing, not just their company, but enabling other companies, is very much aligned with what FedEx wants from a vendor partner like DXC. As part of FedEx's digital transformation strategy, we have taken on a multi-year transformation journey. We started with stabilizing our network, then moved into modernizing our network, and now we are onto transforming our IT estate. All of this is to deliver faster speed to value and better offerings to our customers. We have embraced cloud-native, API-first, data-centric principles for our modernization journey. DXC has brought in very good talent to enable us to realize our vision. In particular about the cloud strategy, FedEx has adopted very deliberately a hybrid cloud strategy. We call it zero-50-50. We want 50% of our IT estate to run in our private cloud and 50% in public cloud. We are making very good progress on that. Applications is a $4 billion business. We are unique. We can deal with enterprise and custom-engineered applications. We can rationalize these estates and run these applications in a hybrid cloud estate. Let's hear from Procter & Gamble. We have the privilege to help enable and run their digital business backbone. DXC and P&G work together in that DXC is our largest systems integrator. P&G, as a fast-moving $70 billion consumer goods company, has an extremely complex supply chain, and the digital backbone that supports this is equally complex. Through COVID-19, DXC has been a strong partner. The demand on our supply systems has been extremely strong, and DXC has ensured that those systems are available even when the processing and the demands on them are more than ever before, and we've navigated together through these supply challenges. P&G is embarking on what we call constructive disruption. The way DXC supports this is by helping us take cost out of our legacy IT systems, ensuring we have operational excellence to get the consumers the products they want and need, and finally, even transforming how we do our work. DXC is helping us drive value. Analytics and Engineering is a $1.8 billion business. Our opportunity and our uniqueness are that we help customers clean their data. Our customers tell us they need help cleaning and managing their data to unlock its value. Once we clean the data, our next step is to develop the algorithms that produce insights to better manage their business. We will now hear from Brighthouse. We have moved beyond our existing work to deliver data insights. The growth trajectory that we're experiencing, I think, is being accelerated by the information we're getting from DXC. I feel that DXC is not just doing the job we originally hired them to do, but they're providing us with sort of that next-level information that eventually helps us grow our business and accelerate that growth. At Brighthouse, we are data-driven, and the management team at DXC, especially the new DXC, is data-driven, analytics-driven. So I would say that DXC and our partnership with them is actually having an impact in expanding, broadening how we think of the business, how we think about helping our clients more than we have historically, how we think about helping our distributors, and how we think about growing our business. Insights that we're gaining, data-driven insights, obviously, are the very best, and that's what DXC has been providing us a lot more of in the last year. Last but not least is insurance business processes as a service and BPO. It is a $1.5 billion business. We are the largest insurance infrastructure, software, and industry BPO business in the world. Insurance is a great example of DXC helping customers across the full enterprise technology stack. We leverage our insurance industry expertise to move from traditional to digital. Let's hear from Lloyd's of London. We are privileged to be at the heart of running their business. So many people won't understand the extent of the scope of work between Lloyd's and DXC. There are over 480 companies that operate in our marketplace that use DXC's services for accounting, for placement work, for settlement activity, and the volume of money that transfers in a year is close to GBP 100 billion. Many people will know that Lloyd's announced a very significant change in the way in which the market operates, so-called Future at Lloyd's program and digitalization. And we've been in active discussions with Mike Salvino and his team as to how that interacts with DXC, and we wanted to take the entire London market with us, not just Lloyd's, others in the London market that work. And we're very excited to have actually signed heads of terms between all the constituents of that marketplace as to what these digital solutions can actually look like in the future. So what does that mean? It means a right first-time mentality. It means a completely different way of processing business. It means a set of systems that will take us to the most complex technical accounting in seconds, something today that takes days and weeks. So we're super excited. Thank you, DXC, for turning up. It's made a real difference. These customers are very important to DXC. They represent $1.5 billion in annual revenue, and they are a sample of our most important customers, our platinum customers. I am so inspired by our customers. For me, there's nothing more inspiring than to hear from senior leaders at the largest global brands in the world. Senior leaders do not do this every day. Their willingness speaks to DXC's uniqueness and our impact. I hope this brought to life our uniqueness and the reason why we're winning in the market. I also hope it brought to focus why we are confident we will grow 1%-3% in FY24. As you have seen over the last four quarters, our book-to-bill in GBS has been strong, over 1.3. We expect GBS to continue its momentum and grow at a higher rate, continue to shift our revenue to higher margin and lower capital intensity. Longer term, we expect our GBS segment to grow in the mid-single digits, with growth accelerating in analytics and engineering. Our GIS segment will experience lower growth in GBS. We expect GIS declines to moderate through FY24 and ultimately grow in low single digits in FY24. We expect the growth primarily to come from cloud and security. Now, we would like to take questions as part of our first Q&A session. I will hand the mic back to John. Thanks, Michael. We'll now move to the first of our two Q&A sessions this morning. For the first session, we'll be taking questions over the phone from the speakers who have presented thus far. After that, we'll move to Ken Sharp, Chief Financial Officer, who will do a financial review. And with that, operator, we'll take the first question. The first question comes from Ashwin Shirvaikar of Citi. Hi. Thank you. Good presentation so far. I like the message of people first. Employee engagement is good to see, but supply of talent and retention are topics of great interest for investors. Can you speak about your attrition rate and how it compares with your peers? What's your target for attrition rate? If you could talk about that, thanks. Ashwin, good to hear from you. Mary, why don't you take that question? Great. Thanks, Ashwin, for the question. We feel good about attrition, and we too feel it's a very important measure of how we're retaining our talent. We're confident that we can continue and maintain being at or below market for our attrition in our key markets. Again, you touched on engagement. Engagement is really the measure we're focused on. Engagement measures your ability to retain your top talent, and we feel that we have made tremendous progress in the evidence that we shared, both internally in our survey where we came from 56- 72 in a very short time, and also externally in Glassdoor, where our CEO approval rating has moved from 35- 80 since Mike joined and this leadership team. So our people-first strategy is working, where we listen, seek to understand, and ensure that we're acting at pace and doing this regularly. And this leadership team that you're meeting today is unified in driving that first step of our transformation journey around inspiring and taking care of our people. Thanks, Mary. Thank you. Ashwin, do you have another question? I did have a question about financial targets, but I'll ask that on the second session, perhaps. Okay. Thanks, Ashwin, so much. Next question. The next question comes from Bryan Bergin of Cowen. Hi. Thank you. Hoping you could dig in a bit more about the changes in that go-to-market that's helping you win more new work within booking. So in that client account management structure, can you give more color there around on that approach now, really, versus before? What's different? And then anything to call out in refreshed sales compensation or go-to-market approach with key partners? Just really trying to key in on the factors that are giving you the confidence of maintaining the right trajectory and that healthy book-to-bill. Brian, thanks for that. And Jim, why don't you take that question? Sure. Thanks, Bryan. Hey, listen, focusing on our customers is absolutely a key part of this transformation. And it starts with building that customer intimacy. And that's what's different. And what we mean by that is, first of all, you have to have delivery excellence. And you saw from Vinod's presentation, we have that silent running. And that's key. Without that, we can't have the opportunity for that next discussion. The next thing that's different is we are truly, truly seeking the voice of the customer. We're spending time with them, seeking to understand. You heard Laura on that video from P&G talk about she sees us seeking to understand them. That is truly different because now we're getting ourselves aligned with what their objectives are, clear alignment moving forward. Another thing that we're doing is proactively engaging, bringing new ideas, innovation. For example, an example with Eric from Brighthouse. You heard him talk about not only are we doing what they asked us to do, we're going above and beyond, bringing them new information, new data insights to help them grow. It's a great place to be in as a CEO when somebody is helping you to grow the business versus always cost-cutting, so that's an example. I think another area is we're investing in our customers, and we're doing that through our technology consultants you heard Steve talk about, where they're out there. Those are senior leaders with deep technology experience working side by side with our account teams, helping to shape the future with our customers, and so that's a key element. Those are the things that are different and starting to show up, and at the end of the day, as we know, as we're building trust, building those relationships, we're earning their trust. We know that we'll keep the work we have and we'll win new work as we move forward in the future. Thanks, Jim. Brian, do you have another question? I actually have a quick one on delivery, if I could, maybe for Vinod. Just as you think about the optimal mix in that global delivery footprint into more of the centralized locations, what's the timing? What's the mix, first off, and what's the timing on getting there to those targets? Thanks, Bryan. Thanks for the question. As I mentioned, right, one of the things that we had to do when we started out is to stabilize the delivery. As part of stabilizing the delivery, we took a number of actions. One of the key actions was to make sure we simplify our delivery, which meant that we identify the key locations, which we identify by GIDCs, and drive the work to the right locations for the right costs. It's not only helping us to get to the right mix. It's helping us to simplify the organization and the delivery processes, which helps us to improve the performance of the delivery itself. It adds to the silent running that Jim just referred to. In terms of the ratio, as I mentioned in my presentation, nearly half of our work is now driven towards a GIDC. As you might have seen from the chart, when we first started 12 months ago or a little over 12 months ago, our net headcount in GIDC was going down. Now we have significantly turned that thing around. We've added 5,000 last year. We currently plan to add 5,000 more. And our goal is to continue to drive that to industry standards in driving the mix between onshore and offshore. That gives us not only cost advantage, but it gives us access to talent, which helps us with the delivery as well. So, Bryan, just to add to that, one of the things I would say is, when you look, I don't know if you printed the deck, but when you look at 26, the key thing that we know how to do when this team talks about us being operators and so forth, we want to scale those GIDCs because we have too many facilities. And that's one of the things that we're obviously targeting because not only does it help with the expansion of margin, but also helps with ESG and so forth. So we're pretty laser-focused on making sure those GIDCs scale. And not only are we scaling them, but you heard from Vinod that we're very focused on what's in them, meaning the contractor conversion piece is another piece that Vinod has brought to the table, where when you look at page 26, you see that contractor conversion going down towards what Vinod's shooting for in terms of 90-10, 90% being a DXC colleague and 10% being a contractor. Operator, please, next question. The next question comes from James Faucette of Morgan Stanley. Great. Thank you very much. And thanks for all the time and detail this morning. I guess I had a quick follow-up question on attrition versus retention and delivery, etc. One of the concerns that goes along with those key points from investors is just if you're seeing any hiccups, even if it's because of COVID interruptions, etc., in your ability to deliver to customers right now. It doesn't seem like it, but would love any color there as to what you're actually being able to do and how you're managing, if needs be, shifting around of assets and people. Vinod, let's take that first and then either pass it to Steve or pass it to Jim around and let's focus on how we've been delivering through COVID. That's a big deal, right, in terms of how we went to the distributed workforce supported by Chris, but then just how we've been delivering because people tend to agree with James. It's hard to believe that we did so well. Yeah. Great point and thanks for the question. Throughout the COVID, which we started a little over a year ago, we've done very well in terms of not only taking care of our people, but also making sure that we are delivering to our customer companies. What we learned in the early phases of COVID, which was quite severe in Europe, whether it was Spain or Italy, we took a lot of those lessons. As the surge picked up in India, we made sure that we had the right contingency plans in place, and as part of taking care of our people, we also made sure we had an accurate finger on the pulse in terms of what was happening with each of our colleagues in India. Just to call out a few things that we have done in addressing the COVID problems that are affecting our delivery colleagues in India. First thing that we did is made sure that we extended the insurance coverage for all our employees and added more coverage for them as the ill ones are getting impacted. Number two, we signed up with a large national hospital chain to make sure that our employees have access to beds and oxygen and so on and so forth. And the number three thing that we did was make sure that our own employees and colleagues were stepping up and volunteering to help support those that were impacted by COVID. So COVID has been quite devastating in different parts of the world. And as part of that, we also made sure that we tracked what our delivery commitments are on a weekly and monthly basis. And so far, we haven't had any delivery impact because of the COVID. People are impacted, but we are working through that, making sure that the delivery is taken care of by adjusting the demand and how we meet our commitments. Jim, Steve, do you guys have anything to add? Mike, let me add a couple of comments. So again, thanks for the question. What I would add to what Vinod just covered was, look, our customers have been incredibly happy about how we've shown up during COVID. I talked about that during the presentation. And what that's done, that's driven trust to a level of customer intimacy that we haven't had before. And what that's enabling us to do is to actually see that investment turning to growth. So the revenue is not running away from us. We're winning in the marketplace, and our customers are buying more from us. If you consider the book-to-bill numbers being greater than one for the last four quarters, that's the evidence, and those last four quarters have been smack bang in the middle of COVID. FedEx, Deutsche Bank, they both talk about this investment, and now we're investing in technology sales consultants, and their sole job is to bring the best of DXC onto the customer accounts. We've been doing this as a team with Mike for years, and when we get to that level of customer intimacy and we make these investments, we grow, so the revenue is not running away from us, and we're getting more work. So the only thing I would add to Steve is when he says we've been doing it for a number of years, when you see this team and you reflect back on the org chart that Mary showed you, when he says we've been doing it for years, this is in our DNA. This is what we've been doing in the industry for years. This is not something that's new to us. This is how we deliver in terms of outsourcing in the technology market. So operator, next question, please. The next question is from Rod Bourgeois of DeepDive. Hey, Rod. Oh, hey, guys. Hey, so I want to first ask about the Lloyd's deal, and then I've got a CIO-related question for Chris. So hey, on the Lloyd's deal, Lloyd's has a lot of experience in working with various IT services firms in the past. It's kind of an interesting background there, but I want to ask about DXC's role at Lloyd's. I'd like to know about the deal scope on that Lloyd's deal. And then also, can you give us some color on how you positioned DXC to win that work? Essentially, what's the deal scope and how did Lloyd's pick DXC for that deal? Steve back to you. Yeah. Look, I mean, look, Rod, thanks for the question. Look, in terms of why they pick us, it starts with how we turn up and how we deliver. So what you heard from John Neal is that they trust us. So they trust us. We've invested in the relationship by bringing the best of DXC Technology to them. And that's why John Neal has confidence. And as I said, ultimately, he trusts us. When we talk about customer intimacy, this is what I mean. And then in terms of scope, if you look at what we're doing, we are literally digitizing an entire marketplace. It's not just one company. John mentioned 480 individual organizations that form part of the London market. This is a market-making deal. It's pretty humbling when you sit behind a market that transacts GBP 100 billion every year. That's pretty mission-critical, not just to Lloyd's, but to the entire insurance industry. Got it. Thanks, guys. Okay. Hey, so follow-up question here for Chris. So I appreciate the presentation, but I'd like to ask for a little more depth here on the delivery side. You've got margin targets that require you to achieve additional cost cuts, and you've got employees working remotely on a pretty large scale, also during a time in the industry where there are skill shortages. With that as the backdrop, how do you address these challenges and also improve efficiency, execute the virtual work model, and ensure that the results are consistent while the workforce is continuing to evolve? I'd like to get some more color on how you handle all of those delivery challenges and use technology to perhaps help with that. Yeah. Hey, Rod, lots to unpack there. Thanks for the question. When we think, I'll start with how we think about the virtual model. We started this really, you mentioned going back pre-COVID. We talked about our people, our strategy, and asking them what they want. And they were really very clear to us that they wanted a virtual model where they were able to work from wherever they were and really that flexibility that came with that. We spent a lot of time and energy investing in our virtual model. You heard me mention DXC Gear. You heard me mention the network changes. That really gives them the tools and technology to kind of work from wherever they are. So that's everything from the basic stuff of making sure that the laptops and the networks work right to our system for making sure they have all their gear delivered to their home and whatever tools they need. So it's really ultimate flexibility. And then you mentioned talent. We think it's a big piece of the equation there, right? The ability to now attract people kind of regardless of their geographic location, wherever they happen to be, they're now a candidate for us. So that opens us up to new pools of people. And the retention is also good too, less people commuting, things like that. Our offices are staying around, but they're going to look very different. There'll be fewer of them. And to your point about margin in the question there, without getting into specifics, I'll just say we have 23 million sq ft of real estate in the pool. So there's a lot of flexibility there and a lot of opportunity to improve our margin as we continue to push virtually. Operator, thanks. The next question comes from Timothy Willi of Wells Fargo Securities. Hi. Thank you. Good morning. And thanks for the presentation. My first question, and I had a follow-up if there was time, was for Mary back on the people side. Could you maybe sort of compare and contrast it to the extent that you can the approach of managing the HR and the talent with the collaboration across the various, I guess, delivery product development as well as customers and sort of how that has informed the strategy and the process around the hiring, the recruitment, the training, which all has obviously been very reflected in the very positive metrics? Any additional color you can provide around that part of the journey that you could enlighten us on? Sure. Thanks for the question. Our people-first strategy really gave us a lot of information, and we continue to seek to understand so we can act at pace. And our people are telling us they want to know their next role and opportunity is within the company. We want our talent to be our best source to fill our open roles. So together, those two things come together nicely for us. The example I'll give is in India where, because of the hiring we've been doing to refresh that pyramid and refresh our talent, hiring graduates direct from the market, that allowed us to free up other capacity, other people, and stretch them into new roles, into new technologies, coupled with a development focus. Together, our people are feeling more energized. Again, our retention, we feel good about. Our engagement scores are up. It's a very natural flywheel, if you will, that is working for us. It's a very deliberate strategy. Our leaders are all very committed to having this people-first strategy. Our people are telling us that they like it, and they really like the new DXC. And I'll close by saying people, engaged workforce, a happy workforce is going to bring more ideas and more innovation. And that, in turn, will show up at our customers. And you can clearly see in those customer videos that they're referencing a new DXC, and they're really liking what they're seeing. Tim, you had a second question. I did. Just around the, pardon me, around the enterprise technology stack and sort of some of the high-level comments about growth, specifically around cloud and security. And I know in Q4, cloud, it was down a little bit, but the book-to-bill continued to trend nicely. So I guess that we should infer that as a leading indicator. I'm just sort of curious, when you think about very specific strategic moves around those businesses, whether it's just the intimacy with customers that you've referenced throughout the presentation, is it product development, delivery? Is there any one or two things you sort of point to that you really think still have yet to really impact the growth or the book-to-bill metrics around those areas that give you that confidence around sort of the 24-hour work for accelerated growth? Michael, do you want to take that? Then I'll draft in behind you. Thank you. Today, you heard from our customers. First, you heard we're delivering tangible business impact, and that's really important. Second, you heard we're doing it importantly because we're unique with our mission-critical knowledge. That's an important asset and foundation that, as you think about it, is a driver that's really important. So this is what gives us the confidence we're going to grow 1%-3% in FY 2024. You heard from a number of clients where we start with a foundation of IT, modernizing and running the IT. And when we're doing that, we're moving them to the hybrid cloud. You heard from Federal Express, American Airlines, P&G. You heard that Brighthouse has leveraged that capability to move up into analytics. And then lastly, but most importantly, you heard Lloyd's leverage their IT, and we are doing full enterprise stack capability. So there's four drivers I'd highlight to really bring to a head your question that really drives our confidence and growth. First is customer intimacy. And you heard from Jim and Steve. That is a critical foundation for us to understand their needs and then get positioned to be their partner to deliver their needs. And as you heard, that's a huge focus for us going forward, and we'll have a very material impact. Second is we feel really good about our capabilities in the enterprise technology stack. We have scope, scale, and relevancy. Scope is we focus on what are our most important needs for our client, and we have those capabilities. You heard today, scale, we have $1 billion plus in every layer of the stack. And in security, it's $500 million, but we are a market leader, and it's critical to everything we do. And last is relevancy is really important. You heard from our clients. We are delivering tangible business impact, and so we're very relevant to them. So the third and fourth that I'd highlight is we're very proud of and leveraging and leaning into our mission-critical knowledge in traditional IT. It's a very important asset. You heard today there's a void in the industry. Customers are coming to us and saying, "We need help. We know the future is hybrid. It's not all public. And you guys have the best capabilities in traditional IT to modernize it, run it, and optimize it." And then we also move them to the hybrid cloud. And when we're doing this, we're getting more work in traditional. So as you think about ITO and applications, we're modernizing. We're getting more work. We're moving into the hybrid cloud. So those two businesses will stay flat. And then at the same time, our mission-critical knowledge is super important, and no one else really has in the marketplace to build that bridge to the digital future for our clients and move them to the hybrid cloud. We all know that more digital transformations fail than are successful. We're having customers come to us and say, "Hey, can you be our partner and build us that bridge to the digital future and hybrid cloud, security, and analytics to really leverage that knowledge of you've been doing it for 20 years? It's just a different way to deliver the same things. Can you do it?" We feel really confident in hybrid cloud that we will move them to the right cloud for the client, not for DXC, and that'll grow. We're going to drive security to make that a foundation in everything we do and they do across the enterprise technology stack. This is really important because it's much more than just cyber software. This is really foundations of security, secure, and resiliency. Last is analytics. You heard we have all heard about data being the next oil, but you got to unlock it. You got to clean it. You got to manage it. And once you do that, you can unlock the proprietary insights for our clients. And so those are the four drivers that make us really confident that we're accelerating our momentum, and we can see in FY 24 the 1%-3% growth. Michael, thanks for that. Let me glue it together just a little bit further. So if you think about those capabilities, and then you think about what we're doing with the customers, the focus on the customers, the fact that we are also investing in those customers, that's key that we can have those discussions. Those discussions end up looking at either modernizing that ITO or moving it to the hybrid cloud. So that motion is key for us in terms of capabilities, then the focus on the customers. You heard Vinod talk about delivery. And then the final step in this whole process is the platinums. We need to focus on those customers, many of them that you guys heard today. That gets us the confidence that not only are we going to execute and deliver on FY 2022, but ultimately grow in FY 2024. Now, with that, appreciate everybody's comments. Let's go to Ken in the financial section. And then right after that, we'll have another Q&A. Thanks. Thank you, Mike. I'm Ken Sharp, DXC's Chief Financial Officer. It's great to be here today with my colleagues telling our story on how we stabilized the business and are building the new DXC. This slide shows in numbers how we delivered on the first phase of our transformation journey. Our revenues are stable on a sequential basis. Our margins are increasing every quarter, even with the headwinds from disposed businesses. We are winning in the market with a book-to-bill of over one for four straight quarters. And we reduced our debt by roughly $7 billion while maintaining significant liquidity. Reflecting on why stability is important, it means we are out of the penalty box, allowing us to focus more of our energy on building our growth foundation and winning in the market. It's not lost on us that investors look at revenue growth on a year-over-year basis. However, when a company has a period of significant decline and change to its business, strategy, and leadership, you first have to stabilize revenue sequentially. Once you achieve four quarters of sequential revenue stability, you achieve year-over-year revenue stability. Going forward, as we have stabilized the business, we will be talking more about year-over-year financial performance. Before I turn to our full-year FY 2022 financial targets, I want to confirm we are on track to deliver our Q1 guidance. Our FY 2022 financial targets demonstrate that we are continuing the momentum from FY 2021. Our guidance anticipates that we will deliver minus 1% to minus 2% organic growth. This is a significant improvement from negative 9.6% in FY 2021. We expect to expand margins from 6.2% in FY 2021 to a range of 8.2%-8.7%. Non-GAAP diluted earnings per share in the range of $3.45-$3.65, an increase of more than 40% over FY 2021, and we expect to deliver free cash flow of $500 million. As we move to the longer-term financial outlook, I want to reiterate that we delivered on our commitments in FY 2021. We delivered sequentially stable quarterly revenues and expanded margins in each of the past three quarters. We delivered our $550 million cost reduction, and we're winning in the market with a book-to-bill of over one in each of the past four quarters. All of this sets us up for sustainable growth in the longer term. Our FY 24 outlook anticipates organic revenue growth of 1%-3%, adjusted EBIT margin between 10% and 11%, non-GAAP diluted earnings per share in the range of $5.00-$5.25, and we expect to deliver $1.5 billion of free cash flow. Now turning to our financial priorities, first, we are working to build a stronger financial foundation and drive the company in a disciplined and rigorous fashion to unleash our true earnings power. Our second priority is to have a strong balance sheet. We are at a far more manageable $5 billion debt level. Further, we have relatively low maturities over the next three years. We remain committed to an investment-grade credit profile, and our actions more than demonstrate our commitment. Third, we will reduce restructuring and TSI expense to approximately $550 million in FY 2022 to under $100 million in FY 2024. Fourth, we will focus on improving cash flow, adopting a traditional free cash flow definition of cash flow from operations less capital expenditures. We expect this will improve our focus on our true earnings power and allow you to better understand our performance. Fifth, have a thoughtful and disciplined approach to capital allocation. As we generate free cash flow, we will appropriately deploy capital to invest in our business and return capital to our shareholders, all the while staying focused on maintaining our investment-grade credit profile. A key priority in building our financial foundation is remediating our material weakness and the impact it has on our corporate governance. From my perspective, a material weakness needs to be remediated in a fulsome manner. We are focused on improving our culture, talent, and level of accountability. And most importantly, we are focused on building a finance team that is proactive, engaged, and empowered, partnering with Mike and his team to deliver on our commitments. We are well underway to remediate our material weakness. These efforts include a comprehensive remediation plan. Chris Vose, our new corporate controller and principal accounting officer, and Jamie Musson, our new head of SOX, lead the execution of our plan, both of whom had leadership roles remediating six material weaknesses with me at a previous company. A change of approximately 75% of the finance leadership within the last 12 months. The new team members have experienced transforming finance organizations and/or closing out material weaknesses, creating increased transparency into our performance and what matters to run the business. Some of these changes are evident in our financial disclosures. Hopefully, you notice the difference in our earnings materials, investor website, and other public disclosures. Let me now highlight the importance of environmental, social, and governance at the new DXC. We are proud of our unwavering commitment to managing and minimizing our environmental impact, as reflected in our reduction in energy consumption and greenhouse gas emissions. As Vinod noted earlier, we will continue to move to a virtual model and rationalize our offices and data centers. We expect to further reduce our impact while improving the working environment for our colleagues. We have issued sustainability reporting leveraging the Global Reporting Initiative standards and a separate climate impact report in addition to CDP reporting. We are enhancing our processes and external reporting by adopting SASB and TCFD during this fiscal year. Moving on to strengthening our balance sheet, as you can see, we achieved a lot in this area, reducing our net debt leverage ratio by more than one turn from the high watermark of 2.4. Currently, we do not anticipate the need for further significant debt reductions. One of our key initiatives we are employing to improve the earnings power and ultimately drive free cash flow is to wind down our restructuring and TSI expenditures. Since DXC was formed four years ago, we have had significant cash outflows with approximately $900 million in expenditures per year on average. In FY 2022, this will be reduced to approximately $550 million, with a larger portion being allocated to facilities restructuring efforts to improve the work experience for our colleagues as we reshape our facilities portfolio to the virtual model. Longer term, we expect to drive down expenditures on restructuring and TSI to under $100 million. Now, let me turn to how we intend to drive cash. First, we have an unyielding focus on reducing restructuring and TSI expenditures. Second, our capital budgeting process needs more rigor, transparency, and accountability. Our capital expenditures, including capital leases, are quite elevated at almost 10% of our revenues. In comparison, our peer group ranges between 1%-5%. Based on our assessment, we have a significant opportunity. Third, we will rationalize our facilities footprint. Fourth, we are in the early stages of reviewing capital lease financing and believe we can reduce cash outflows over time. Fifth, improve our working capital efficiency, including unwinding take-or-pay purchase commitments. Finally, we see further portfolio shaping opportunities by selling businesses that are not core to our enterprise technology stack, ultimately improving our focus and liquidity. Once we ramp up our free cash flow generation, we expect to deploy capital in a disciplined way that drives value. Our first use of cash flow will be to invest in our business. This is where we expect the highest return on investment. We also have scheduled capital lease payments and debt maturities. As I noted earlier, our debt is now at a more manageable $5 billion level. We do not anticipate the need for further significant reductions. Lastly, it's important to Mike and me that we reward our shareholders, especially those that stayed with us through this challenging period. Based on our analysis, coupled with investor feedback, we favor buybacks over a structured dividend, as we believe it provides the highest return and is the most tax efficient for our investors. This allocation implies about $500 million of annual capacity for share repurchases in the out years. Finally, we are providing you our scorecard to track our progress over time. Our first goal, we intend to continue winning in the market with a book-to-bill of greater than one. We expect to continue our track record, delivering sequentially stable revenues that translates to year-over-year stable revenue in the second half of FY 2022, and ultimately moving the business to organic growth in FY 2024. We strengthened our balance sheet. We will continue to maintain our investment-grade credit profile with a target gross debt leverage ratio of 2.0. Our efforts to remediate our material weakness are bearing fruit, and we look forward to putting this behind us by the end of FY 2022. We expect to continue our momentum, expanding our margins, and as we improve cash flow, we fully expect to resume our capital deployment to shareholders. We are pleased with how we delivered on our stabilization phase and are encouraged with the firm foundation we are putting in place and look forward to driving organic revenue and profitable growth. With that, let me move to our second Q&A session and now turn it back to John. Thank you, Ken. We'll now move to the second Q&A session. Operator, please take the next question. The first question comes from James Friedman of Susquehanna Financial Group. Yeah, I may have to close that. Operator, please take the next question. The first question comes from James Friedman of Susquehanna Financial Group. Hey, guys, can you hear me okay? Hello? Yeah. Gabe, you go ahead. We had some feedback there. I apologize about that. Please go ahead with your question. Oh, I made the faux pas of having the computer and the phone on at the same time. So great first hour and a half. I just wanted to ask two things. I'll ask you upfront, but the first one is I noticed that the Moody's press release just came across the tape. Congratulations on that. And Ken, maybe I'll get your perspective on how you're thinking about the maybe flexibility that I'll give you. That's the first one. And then for Vinod, back to the delivery side, I'm just curious if you could kind of simplify for us what you saw as the kind of one or two main common themes in the delivery challenges previously from a technical perspective. I understand you're improving the headcount and the training and the offshore onsite, but from a technical perspective, is there anything that you could target that was blowing up the engine there? So those were my two. Thank you. All right. Perfect, Jamie. And Mike may want to jump in as well because he did a lot of work on the debt with our team. So I'll give you a little bit and then turn it over to Mike, and then we can go to Mike and Vinod on the delivery side as well. So look, I mean, it's been a lot of hard work by a lot of folks in the company, and we're really appreciative that Moody's gave us the time to demonstrate that we could deliver. And in this entire dialogue, we've been talking about stability and trajectory. And what I would say is Moody's coming back as yet another proof point that, one, we do what we say we're going to do, and we deliver. And hopefully, when you look at our guidance and you look at everything in here that you've heard over the last four quarters, that's what you see. And that's how I feel about it. Going into some numbers, we've done a great job. We've paid down $7 billion in debt. Some folks will say, "Where were you on a net debt basis?" 65% debt reduction, which is pretty monumental. Why it matters? It matters because we're building a foundation to grow the business, and having a company highly leveraged is not the place that we wanted to be as a company. With that, I'll turn it to Mike, and he can pick up the tail of that. So thanks, Ken. First of all, I do also want to thank Moody's because they listened. They let us have the time to deliver on what we said we were going to do. A lot of people didn't think we could have that kind of impact in a short period of time on the debt. $7 billion is quite a bit of money, no doubt. In addition to that, it's not just paying down the debt. It's the trajectory. It's the fact that we have momentum and we're heading in the right direction. So couldn't be more pleased about that. I think you guys have heard me say over and over and over again, our focus is to maintain an investment-grade profile. We're there, and now what we need to do is focus on executing our business, so with that, let me turn it over to Vinod, and then Vinod, I'll weigh in after a little bit because I've got a few points I want to make too. Okay? Sure, Mike, so in answer to your question around what we did to improve delivery, the question was related to technically what we did, right? I'll get to the technical part, but more importantly, we've taken quite a holistic look at how we improve delivery. We started out by looking at making sure we simplified the org and the delivery footprint itself, which I covered in one of my charts. Two that Mary has talked about, our people-first strategy, which means that we've tremendously added talent, and that has helped. Having the hearts and minds of our employees who are engaged to make sure we serve our customers well is also, in no small measure, a big help. Coming up to the technical aspects of delivery itself, the first thing that we did within the first few weeks of Mike and I being here, we put in place a high-priority incident management global command center, which is manned 24/7. When any delivery issue happens in our clients' environment, we get to it very, very quickly and resolve it before it makes a big impact on any of our customers. That is also what's put in place. It's been in place for more than 12 months now, and that has helped us to reduce our MTTRs, which you saw, and the last thing that we have done is the video that you saw related to PlatformX. A lot of automation has helped us to reduce issues and predict them and fix them ahead of time, and you heard from the P&G's Laura that they manage a very complex, we manage a very complex supply chain globally for them, and as I mentioned, the scope of our environments that we manage, many of them are quite complex and different versions and makes and models and so on and so forth, so the automation through PlatformX is also helping us tremendously. As part of the pilot itself, just to recap, we've deployed about 6,000 bots only so far, and we plan to scale that as we go forward. Mike, back to you, so Vinod, the only other thing, Jamie, I would say is, look, delivery is all about people. When you've got extensive attrition, when you asked us what's the biggest thing we changed right out of the shoot, it wasn't technology. This wasn't some sort of whiz-bang solution. This was, "Get the people to understand that we cared about them so they weren't leaving DXC." We don't have that issue anymore. When you have people sitting in the seat every day delivering for your customers, that's when you get to what Vinod and Brady and Turpie called silent running. The only reason Vinod can even implement Platform X is because everything is stable. When things are stable, then the next step is to go after all the manual handoffs. And when I look at PlatformX, Vinod and I have been doing this for years. PlatformX on one side gives us all of the potential issues that could occur in both the ITO estate and also the hybrid cloud. Then what it does is automatically, through AI, launch these bots. Nothing better than that. So Vinod knows that I'm pretty focused with him and his team making sure that scales this year. And that, again, is the arrow on page 26. So let's take the next question. The next question comes from Brian Keane from Deutsche Bank. The line is open. Hi, guys, and congrats on the transformation progress. I guess kind of two questions. Thinking about the GIS margins, they're depressed currently. Where can they ultimately go long-term in GIS? And then kind of secondly, looking at the bigger picture, thinking about steady-state growth beyond the fiscal year 2024 guidance, kind of what's the formula for DXC's model look like in the top line? Is it 1%-3% as well, or is it a little bit better than that? And what kind of EPS growth is normalized when you get beyond fiscal year 2024? What's achievable? Thanks. Okay. So let me start. I'll do the GIS question, and then Ken, hand it over to you for EPS. When I look at the trajectory of our margin, Brian, I sit there and I look at, first of all, 6.2% to now we're guiding 8.2%-8.7% and ultimately getting to 10%-11%. And when you look at the next click down in terms of GBS and GIS, both are going to follow. Right now, we've got GBS sitting at 15.8%, and we have GIS at 4.1%. The more and more we hone in on the cost levers, like real estate, like contractor conversion, like the scaling of the GIDCs along with Platform X, those will expand both margins appropriately so that we fit into both sets of those numbers, 8.2%- 8.7% along with 10%- 11%. Now, in terms of long-term EPS, Ken, you take that one, and I'll fold in. All right. Great, Mike, so look, we feel very bullish about our guidance and where the business is going long-term. Mike talks a lot about getting the business to the peer group growth and margins, so that's how I would think about our business long-term beyond the guidance range we gave. Just to make sure we're clear, right? We're looking at 1%-3% revenue growth in FY 2024. Then beyond that, like I said, we fully expect to be where the peer group is, and that's our focus of getting the business back to the peer group. Next question. The next question comes from Lisa Ellis of MoffettNathanson. Hi, good morning, guys, and thanks for doing the session. I had a couple of questions on the free cash flow outlook. Thanks for the additional detail and focus there. It's like the linchpin of the FY 2024 outlook. Two things, Ken, these are for you. I'll just ask them both upfront. First, you highlighted reducing TSI and restructuring as the primary lever of free cash flow improvement over the next couple of years. Can you just give a bit more color on what you're doing to reduce that line item, like specifically what's different or maybe what you are stopping doing that you were doing before? And then the second one, as you highlighted, over half of free cash flow is allocated to capital lease repayment. Can you just talk a little bit of, this isn't an item we've spent a lot of time on, just talk a little bit more about what the dynamics are there. Is that an item that could come down over time so that you have more cash flow available for investment and share purchases? Thank you. Lisa, thanks for the question. And I'm going to take the first one on restructuring and TSI. Ever since I've sat in the seat as CEO, this has been something of a thorn in our side. All right? So when you look at what we did last year, around $900 million of restructuring and TSI, we're basically going to pretty much cut that in half. And the focus there is around making sure that any integration that we've done, we're absolutely just going to make sure that, look, it's done in the appropriate way and move on from there. The restructuring, we're very focused on the real estate stuff. So the plans underneath these numbers now are very detailed as it relates to how we're going to go from $900 million- $550 million and then ultimately to $100 million and look like our peer group again as it relates to restructuring and TSI. So those were the comments I would make on that. Ken, over to you in terms of the next piece, the free cash flow. All right. Wonderful, Mike. Thank you. So, Lisa, just maybe touch on the TSI and restructuring. And Michael Corcoran's on the call as well. And you likely know this, but Michael runs our M&A process, and he's been working through each and every open WBS code on the TSI. And literally, we've been going through and evaluating and ending those projects and shutting them down, getting them completed, and getting them to the right result. So you'll see our TSI expense continue to decline as we kind of move on through the current fiscal year. So I think that's a great result. Mike's incredibly focused. I think it was, Mike, probably in my priorities that you gave me. I think it was number three coming in. So certainly, we've been drilling into that. And I do think we'll have a good outcome with it. You said, Lisa, I just want to make sure I get words right, but I think you were talking about our main lever. I would say we've got a lot of levers on cash flow. My list I put in there, I would say, is somewhat indicative, and we're going to go work all of these together. When you talk about leasing, so I'll pivot there. I look at that as a lever as well. Specifically, it's the CapEx lever. We've been probably outsizing our peers on the CapEx side for quite a while. The leasing side, maybe winding back a couple of years, the company was doing $2 billion in leasing, $1 billion or so in capital leasing a year. This last year, we've reduced it to somewhere around $400 million. So we'll continue to work that leasing number down because cash is cash at the end of the day, right? Whether it's in free cash flow or just sitting slightly below it on a geography side. So it's something that's very important to us. We're very focused on it. So I do expect the number to come down. I'm not guiding to a specific number at this point, but we'll keep working it. And I think everybody understands capital leases aren't necessarily short-term in nature. So there's a bit of an overhang we'll play through and continue to drive it down, which is a big focus of ours. Next question. Sure. Thank you. The next question comes from Keith Bachman of BMO Capital Markets. Thanks. And I wanted to congratulate on what I think is a very effective presentation and discussion today. I had to, the first, I wanted to go back to slide 31, the Enterprise Technology Stack, and really focusing on both applications within GBS and outsourcing. These are two of your largest segments. And I'm questioning the slope of the line. And you've indicated that growth through FY 2024 is flat. I want to try to understand, are you suggesting the market is flat in these areas and you'll gain share, or is the market declining? Because, for instance, if I looked at the application market, and just to pick on that one, most of the vendors are facing significant pricing pressure, which is causing revenues to decline. And I would submit that there's similar pressures in the IT outsourcing. So I just wanted to hear a little bit more about your thoughts on these two particular areas: applications and outsourcing, and try to understand the tensions around, can you deliver even flat growth if the markets are declining? And then I have a follow-up, please. So Keith, first of all, on both ITO and applications, what we've done over the course of the last 12 months is just that we've gotten out in front of a lot of our competition, hence the reason why the book-to-bill is over one. And the reason for that is the knowledge that we have in both the applications and the infrastructure. That knowledge is critical. And we've taken a very structured approach. We call these items IT estates that we have our account execs and our technical sales consultants look at. By doing that, we're getting our fair share of work. The other reason we didn't show growth on that is because we are very focused on now moving these to the hybrid cloud. If you didn't take anything away from the session today, you heard client or customer after customer say, "We run the mission critical." That stuff's not going away. And the fact that we've got such a large portion of that, that's on us to be proactive with these customers and either modernize those applications and IT estates or move them to the hybrid cloud. What we're seeing right now is we are winning more work in the what I call ITO or traditional way, and we are starting to win work in the hybrid cloud. And to me, that balances out. That's why we had the horizontal arrow on that page. You had a second? Okay. Yeah, I did, Mike. That relates to my second question. And it's really competitive differentiation. And what I mean by that, it seems to me that DXC in particular has more of an emphasis on the hybrid side than many of your competitors, perhaps notwithstanding IBM. But I'm also wondering, historically, DXC has had very strong service practices, particularly in ServiceNow and some of the other areas like Salesforce and maybe some of the other SaaS vendors like Workday. But ServiceNow has historically been a very strong area. As you approach your enterprise technology stack, do you think there's less orientation and less focus on what I'd call the traditional SaaS vendors as you generate your competitive differentiation? If you could just comment on that. Thank you. And then I'll cede the floor. Okay. Keith, the key thing for us is the reason why a lot of our competition doesn't talk about the hybrid is to be able to do the hybrid. You need that knowledge. And look, I've been in this space for 35 years, right, and sold when I didn't have the ability to deal with the existing estate. That knowledge to deal with the existing estate, Keith, these systems are 25, 30. I mean, you heard Maya talk about her estate. That's a tough estate. So you can't just go in there and say you're going to sell the cloud. And that's tough for our competition. And what's interesting is the market has come our way. Public, certainly, there's stuff still going to the public. But now this game is going to be around, what do you do with the mission-critical applications and infrastructure? And listen, that is our strength. That's where we've got the knowledge. That's where we delicately move pieces of it to the hybrid cloud where a lot of our competition has never touched the infrastructure piece. So this is why we think that we're very confident and positioned that we're going to do better than our fair share in this space as we move forward. So that's why when we looked at GBS and GIS, we signaled cloud, hybrid cloud, and security up, and also analytics. Because the other thing that people forget is sometimes we lose the plot of the story. The reason why we're putting in all these applications and infrastructure is ultimately to get to the data. Eric, the CEO of Brighthouse, did a great job talking about what DXC does, not only now deliver on what he asked us to do, which is applications and infrastructure, but now deal with the analytics piece. Listen, getting those sales engines in motion, we now can see that. Gone are the days where we're talking about stability, and now we're focused on building that foundation so that we can get to grow. That's the way I see that whole situation playing out. Next question. All right. Many thanks, Mike. The next question comes from David Grossman of Stifel. Hey, David, we lost you. You got me? Can you hear me now? Yep. David, we got you. Go ahead. Oh, great. So I really just wanted to follow up Keith's question, but perhaps ask it a little bit differently. Certain segments of this industry, as we all know, are deflationary by design, at least historically. And maybe we could take it up a level and provide some incremental insight into your vision for the growth algorithm of the business, given all these changes in the underlying stack and your go-to-market strategy. And maybe one way to address this is to help us understand how much of your future growth you think will be dependent on unit growth or new client growth versus how much you think it's going to come from enhancing wallet share or revenue per client. And I don't know if you have these, but any metrics that you can share on how these metrics have been trending since the transformation began would be very helpful. Okay. So, David, what I would start with is we believe a lot of this growth is going to come from our platinum accounts. That's the 175. That's why we laid out the 69 and the 72 for Americas and EMEA. There is enough work there to just start at the bottom of the stack, get that ITO layer modernized. And that's where we've got a lot of the knowledge. And then as we move up the stack, like I said, I mean, you guys don't have to listen to us anymore. You literally heard from our clients. We are moving them up into the hybrid cloud. And when you think hybrid, it's not just the cloud with Google and Microsoft and Amazon, but it's also selling security work to move all that information to a secured environment. Like I said, then the next piece is that application modernization. So you'll see us certainly modernize enterprise applications like SAP, like ServiceNow, and so forth. But a lot of these estates, David, have custom apps. So we also have that engineering capability to redo those, right? And then last but not least is the analytics piece where a lot of this market never talks about the hard part in the analytics piece, which is the data cleansing. And the fact that we've got a data cleansing factory that once you cleanse the data, nobody better than us to actually do the analytics is huge. So it's a very structured approach. Focus on the 175. We don't have to go and get a lot of new logos. We've got the logos in the market, 250 of the top 500 Fortune 500 folks. What we have to do is stay focused on them and move them up the stack. And again, I would go back to the videos in terms of clients telling you, "This is exactly the path we're going." So last but not least, we think this strategy not only gets us to one to three, but Ken mentioned it. What we're chasing is the peer group because we believe we can catch that peer group both in terms of revenue growth and margin. And when we do that, we obviously look like a different business. Next question. Thanks. Oh, go ahead, David. You've got another one. Go ahead. Yeah. Yeah. I just wanted to follow up. Just curious whether there's any metric you can share on the growth of the platinum account versus the residual core. I mean, the growth on the platinum is, that's where the growth is coming from. So I mean, when you see the growth of our business and so forth, and that's why I focused traditionally in the quarterly earnings calls to show you the growth of the stack. That growth is coming from the 175. That doesn't mean, like Jim Brady said, we're going to ignore the 2,500, but that's where the growth is coming from. And Jim and Steve and so forth, their main focus is to not only grow the total number of platinum accounts, but also grow the revenue in those accounts. Again, very focused approach. Okay. Next question, which will be our last question. The next question comes from Tien-tsin Huang of JP Morgan. Thanks for taking my question, and thanks for the presentation. Just a couple of quick ones. Just on the given revenue stabilization and automation will surely increase because Mike, I know you've got a great track record there. What does this mean for your hiring outlook or talent needs over the guidance cycle? Just a big picture question on the people side there. Thanks so much. And good to hear your voice again. Look, the focus on the hiring. It's amazing how many people in this industry are talking about hiring. And look, when I sat in the seat, whatever, 21 months ago, people didn't think I could put together this kind of team. This team is fantastic. And that team is the reason why we don't have a big issue hiring folks. The other thing I would say is this. When you talk about the trajectory of our business, and again, Moody's is the latest example that the trajectory is going in the right direction, is people want to work with a company that's going in the right direction. So, us hiring folks is not the issue, all right? The issue is we want to make sure that when we bring them in, you heard from Mary, we want to give them the appropriate career growth. And that's what our focus is. So, I very much like the position we're in in the industry in terms of getting the talent that we need. Gotcha. So, to that point then, just thinking about, again, big picture, just benchmarking pay on the people side. I know you gave some stats on attrition there, but how about on the engineering and technical side, let's say in your chain or some of the digital areas and benchmarking and training, things like that? Sounds like for sure great culture change is happening. Just trying to dig in a little bit deeper on those areas. Thanks. Okay. So look, it's been my experience that certainly you have to pay the people, but if all you're doing is paying the people, they're not going to stick. They won't stick. They'll move to the next competitor. And that's why I continue to always go back to the culture, the people-first strategy. We talk a lot about acknowledge, recognize, and reward. The reward is the pay piece. The recognition is literally saying thank you, which our recognition tool that Mary's put in is fantastic. And then the acknowledgment is the promotion. Meaning a lot of what happens in this industry is people want promoted. And some of our competition, it's hard to get promoted. I mean, we are heading into a situation where we've stabilized this company. We're headed towards growth. There's a ton of opportunities here. So that's the way I would answer that question. What I'd like to do before I close up is, first of all, thank all of our customers. Those videos, as you all know, are not easy to get. And those are great customers of ours. And for that, I say thank you. Second is I think our leaders did an outstanding job presenting today. And again, for that, I say thank you. And what I'd like to do is close with this. Our confidence is high as it relates to not only delivering FY22, but also the growth of FY24. And the reason I say that is because we have momentum. Now, what do I mean by momentum? You heard from Mary talk about our people-first strategy and the fact that we're inspiring our colleagues now. Now the focus will be to continue to inspire, but also make sure we're laser-focused. A number of you have mentioned the discussion on talent. We will make sure that we not only attract, but we retain the appropriate talent. Second, customers. Meaning hopefully now you have seen that the revenue is not running away from us. And when the revenue doesn't run away, when I show you quarter after quarter the book-to-bill, that part of that is renewals, the revenue is not going anywhere now, all right? That's why we guided. We went from minus 9.6 to now minus 1 to minus 2. That's incredibly important, and we've done that based on building customer intimacy. Third is you can do all this stuff and you still have to run a tight ship. With Vinod and Chris, when I think about optimizing costs, they're doing all the right things to simplify our organization. Fourth is the Enterprise Technology Stack. Major takeaway is nobody better than DXC to run your mission-critical systems, to modernize them, and then to move them to the hybrid cloud, ultimately delivering analytics. That's what we talk about in the industry. That makes us unique. Most people can't cover the entire enterprise technology stack. And last but not least is Ken. Ken, building that financial foundation to give us the discipline to run the place is outstanding. So look, I'm incredibly excited. You saw from my leaders, they're incredibly excited to be a part of DXC. We think our future is incredibly bright. With that, I want to thank all of you for joining the call today and your interest in DXC. And we'll look forward to seeing you on our Q1 call. And with that, operator, please close the call.