When backing out the 2020 T&E benefit, the midpoint of the guidance represents a 50 to 100 basis point increase in 2021 operating margin, despite an expected headwind from foreign exchange.

Apr 29, 2021 / CFO / receipt, needs a key / Keith Collins, CFO | earnings call 2021-04-29 | transcript 95d420c4-25c7-42b2-988e-33cbe51894e3 | chars 15737-15926 | segment 15