Today's results represent only our very first 90 days together, and I'm delighted with what the team has already been able to accomplish in just that short amount of time.
As Marshall will discuss in a moment, we are now tracking to a 30% non-GAAP earnings per share accretion, which is above the 25% that we previously targeted.
Specific to the PC ecosystem, we remain cautiously optimistic given the opportunities in the commercial space with the Windows 11 refresh cycles and upgrade for advanced security features, offset by some moderation in the consumer segment.
I am proud of our teams who collaborated well, executed flawlessly, and adjusted to many changes in our first 90 days together.
Total worldwide revenue came in at 15.6 billion, down 2% from the prior year.
We are pleased with this result, given the tough comparison to prior year, supply chain constraints, and newness of operating as one company as well as an approximate 1% FX headwind due to the euro weakening against the dollar.
Gross profit was 943 million, and gross margin was 6%, reflecting solid execution by the team and a continued favorable mix of products and services.
Total adjusted SG&A expense was 559 million, representing 3.6% of revenue and in line with our expectations.
Non-GAAP operating income was 408 million and non-GAAP operating margin was 2.6%.
Non-GAAP interest expense and finance charges were 42 million and the non-GAAP effective tax rate was 24%.
Total non-GAAP income from continuing operations was 276 million and non-GAAP diluted earnings per share from continuing operations was $2.86.
We ended the quarter with cash and cash equivalents of 994 million and debt of 4.1 billion.
Our gross leverage ratio was 2.6 times and net leverage was two times.
Accounts receivable totaled 8.3 billion and inventories totaled 6.6 billion.
Our net working capital at the end of the fourth quarter was 2.7 billion, and our cash conversion cycle for the fourth quarter was 14 days, which was in line with our expectations.
Cash provided from operations was approximately 561 million in the quarter.
Given the numerous positive drivers for the company, we remain on course of delivering approximately 1 billion of free cash flow by the end of fiscal 2023.
Our long-term capital allocation strategy over the next two to three years is to distribute approximately 50% of our free cash flow to our shareholders in the form of dividends and share repurchases.
For the current quarter, our board of directors has approved a quarterly cash dividend of $0.30 per common share.
Negatively impacting these gross expectations are FX, which is expected to impact us by approximately 1.1 billion; and gross versus net revenue adjustment of 1.2 billion, which is the result of aligning policies between the two companies.
Given this progress and the view regarding fiscal 2022, we now expect to realize a 30% accretion to non-GAAP earnings per share in fiscal 2022 compared to fiscal '21 legacy SYNNEX stand-alone results.
This represents an improvement from our initial target of 25% accretion.
For fiscal '22, we expect non-GAAP earnings per share to be between $10.80 and $11.20 per diluted share.
This also assumes a negative 22 million headwind to non-GAAP net income or $0.18 per share, primarily associated with the weakening of the euro since the date we first performed our merger accretion assessment.
We expect total revenue to be in the range of 14.75 billion to 15.75 billion, which, when adjusted for FX of approximately 450 million and gross versus net adjustments of approximately 300 million, represents an expected year-over-year growth rate in the mid-single digits.
Our backlog level continues to be elevated, and we estimate the impact of fiscal Q1 revenue to be approximately 5%.
Non-GAAP net income is expected to be in the range of 245 million to 275 million and non-GAAP diluted earnings per share is expected to be in the range of $2.55 to $2.85 per diluted share based on weighted average shares outstanding of approximately 96 million.
Interest expense is expected to be approximately 38 million, and we expect non-GAAP tax rate to be approximately 24%.

Summary:
For fiscal '22, we expect non-GAAP earnings per share to be between $10.80 and $11.20 per diluted share.
We expect total revenue to be in the range of 14.75 billion to 15.75 billion, which, when adjusted for FX of approximately 450 million and gross versus net adjustments of approximately 300 million, represents an expected year-over-year growth rate in the mid-single digits.
Non-GAAP net income is expected to be in the range of 245 million to 275 million and non-GAAP diluted earnings per share is expected to be in the range of $2.55 to $2.85 per diluted share based on weighted average shares outstanding of approximately 96 million.