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      "text": "* Constant Currency adjusted measures are non-IFRS measures. See \"Use of Non-IFRS Measures\" and \"Reconciliation of IFRS to Non-IFRS Results\" for additional information. * Last Twelve Months (LTM) represents annual performance covering the preceding 12 months relative to the last day of the quarter.",
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      "text": "As a reminder, Social Charges are payroll taxes associated with employee salaries and benefits in select countries where we operate. Since a portion of these taxes is tied to the intrinsic value of share-based compensation awards, movements in our stock price can lead to fluctuations in the taxes we accrue. This resulted in Social Charges related to share-based compensation of €82 million in the current period vs. €12 million in the prior year period.",
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      "text": "Operating Expenses declined 9% Y/Y in Q1. Y/Y changes in Social Charge movements elevated Y/Y expense growth by ~800 bps, while the lapping of the prior year charges related to efficiency initiatives lowered expense growth by ~400 bps. The remaining 13% Y/Y decline in Operating Expenses reflected a decrease in personnel and related costs and lower marketing spend. Currency movements had a <1% impact on reported Operating Expense growth.",
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