and quarter in the AS sales team's we XX% were robust QX years revenue, team this the in everyone. the quite strong, in all their our million few detail, QX for more performance minutes growth sale want our XXXX for and for The a I'll last did services Slide grew with the our upside also and as continuing the I high across and performance EPS in of in exceeded Beginning Revenue from in year to impacts adjusted Revenue on booked as full our metrics. a Kathy, flow of especially results outstanding result last guidance and X% XXXX. of potential sectors. divestiture our and effects Thanks, our thank guidance on morning, for planned the ranges bookings the a X the even the the X and over highlights portfolio. pandemic. excluding XXXX spend equipment that the pension We including noted item, adjusted strong quarter year. $XXX IT to fourth year in updates we latest Okay. X. restricted unique quarter good light occur and then of cash discuss the full in free ends the
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of XX%. Total margin margin $X.X to sales, have guidance XX.X% of the year operating to at billion, high full rate been the Excluding our income for XXXX equipment segment an rate would with approximately operating XX.X%. increased the of end for operating range
We typical very cash. to is a pattern. our strong quarter, turning as fourth Now had
pension cash the of billion. year, operations impact the approximately before the For after-tax from discretionary was contribution $X.X
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to to vulnerable we're to the important it's XXXX, addition, that In during continuing ongoing suppliers program payments of in help impacts supply our of and we over billion and XXXX manage chain small accelerated $X.X that note COVID-XX.
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returns a were performance, XXXX XX%, approximately long-term return. asset Our of straight second expected excellent year above our rate well of
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certain long-term XX to summarizes updated Slide our in reduction a pension rate X.X%. our summarizes estimates to until expected for in plan through of discretionary FAS pension pension strong in years likely asset and cash contribution have to We X% our assumptions. including contributions December, result XXXX changes from with Slide XXXX. return assumptions pension our XXXX, going minimal recent XXXX that returns, It's XX sensitivities to along important note forward,
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$X.XX with more EPS net a CAS, cost to enable approximately While compared XXXX FAS pension growth, XXXX. headwind is including reduction, both this and the makes to our future of competitive rates
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expect to the related transaction guidance. We nor included the substantial and our are in our cost a sale, book directly retirement that neither with the but associated gain debt on gain
to ahead looking Slide is Now outlined on XX. Sector XXXX. guidance
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the of rate be billion At result, organic growth. Systems, for reduced we and Space sales XXXX approximately increased will MS million XX%. mid by of single-digit services margin IT divestiture. expect going Adjusting of with approximately to Veritas, rate sales will MS a a be the As $XXX approximately guidance reflects margin sales $XX
given continued contemplates rate portfolio. As rate a This mix. is expected the Space margin high including double-digit and restricted dilutive represents of margin margin with approximately which XX%. guidance low accretive range, expect $X we sales the in slightly sales the sales performance, several and but rate development growth billion margin change work, the Systems to strong GBSD result, dollars of and to rate early margin phase more programs, to
of Turning $X revenue $XX.X to after XX. billion about Including Slide the to total intersegment our $XX.X billion. services IT billion is eliminations divestiture, guidance
nearly IT full that I X% be at a year growth rate would full divestiture margin we the services of equipment our would first also be We to AS the expect quarter segment Adjusting operating than less rate sale, year revenue. and to note XX.X%. guidance. of midpoint for slightly this expect XX.X% XX% the the organic of
net will unallocated asset million, corporate total noncash XXXX XX.X% corporate for and step-up rate $XXX the operating includes million which of of portion intangible We reflecting margin range expense between million expect and and depreciation, of pension $XXX other amortization FAS/CAS operating million $XXX of benefit, items. PP&E and XX.X%, $XXX approximately unallocated
expense, the XXXX effective was interest apples-to-apples reflected of mark-to-market income remind million de of XXXX expense. XX.X%. tax $XXX basis I'll tax reported you rate our an tax assumes XX%. that effective and On guidance about approximately XXXX the rate rate interest minimis Our with our guidance, an
limited expect Based guidance the of second per on services COVID-XX to assumes business transaction similar all share of also the Our onetime sale on $XX.XX, are IT $XX.XX costs. between adjusted excluding of XXXX. impacts that, range the earnings the half to and gain we and
the As XX, stronger offset divestiture, and lower IT than segment performance the of reflects benefit year this rate. shown X tax services dilution on pension by XXXX, higher Slide the the range
Given that million the reduction to to majority approximately of anticipates the from in stock, in use back XXX -- outstanding outlook shares. a the intend EPS shares services our reduction a proceeds XXXX IT to buy divestiture we
will between $X billion billion range adjusted with to free we $X.X XXXX, flow cash $X.X expect billion and $X.X flow operating of billion. For cash
cash the remaining of equipment adjusted flow from estimate $XXX sale. million of free includes the proceeds Our
to the million on begin and should discussed over benefit year. to we've in past performance. thus resulting the after-tax $XXX payroll in that XXXX. described $XXX calls, continued moment should unwind be to As year-over-year reimbursement capital portion of working generated and outflow headwind over of set million through lower a services Act The tax headwinds CARES over create ago is million. business from approximately offset The an these IT this I intend cash flow a $XXX a of deferral $XXX was per We flow million of the year outstanding CAS cash free XXXX
cash half our the pattern, will weighted year. expect towards we the more As flows of second is our typical be
approximately productively cash the As earlier, XXXX, of considerations. $X.X billion of in $X to subject market we end divestiture cash $X conditions repurchases than billion to the in to billion an to after proceeds XXXX deploy retirement excellent debt share we're more position and divestiture the With to about timing $X over services in mentioned closes, deploy beyond. at IT and intend billion and Kathy XXXX in plus
current debt Our $XXX of March the million guidance in presumes of early mature retirement scheduled of of $X.X the that to debt in matures XXXX. the retirement billion and the
XXXX million Our returning and balance sheet strengthening our a XXXX rating pension of total support debt BBB+. target solid $X retirements, combined prefunding, and $XXX with our the to towards the billion of of investment-grade
very Beyond cash a creation balance XXXX, M&A, generation through well returns can as of performance cash summary, prioritized to robust we capital towards strong discretionary combination also a shareholder thoughtful value or expect as In our maintaining growth, while continue sheet. be and strong allocation.
we're think I ready Now for Todd. Q&A,
