The company is targeting an earnings-to-free-cash-flow conversion rate of 100 percent or more. -"Our Beam Global spirits business Yves Saint Laurent Shoes the year with continued momentum. Reported fourth quarter sales also benefited from a change in the trading terms with a major customer in Australia related to the way Manolo Blahnik Low-heels Apricot with Black Head record excise taxes. For the full year, our spirits sales achieved a new record on solid growth in the U.S., good performance in Europe, and double-digit growth in emerging markets and global travel retail. Reflecting the success of our strategic investments, we generated strong consumer demand for brands including Jim Beam, Maker's Mark, Sauza, Canadian Club, Courvoisier, Manolo Blahnik pink suede sandal and Cruzan. Notably, Maker's Mark exceeded one million cases sold for the first time ever with another year of double-digit growth. We also energized our categories with a record year of innovations, including Maker's Manolo Blahnik Rhinestone Buckle d'Orsay Gold, Cruzan 9, Teacher's Origin, Courvoisier's Connoisseur Collection and the continued growth of Red Stag by Jim Beam.
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