David Strauss

I wanted to follow up on the 777X. If you could just update us on change incorp, kind of how you're thinking about that.

I think, Jay, you've talked about $1 billion kind of cash drag from Spirit this year. How do you see that progressing into '27

in terms of that change incorp, is it structural software? Kind of any color on kind of the big things that need to be done

I wanted to ask about MAX delivery guidance for this year and 787 as well. I think previously, Brian, you talked about 400 deliveries

Could you maybe dig in a little bit more on the status of the six KPIs specifically the progress you're seeing there

I wanted to ask how you viewed the restart on MAX, how that's gone

could you talk, maybe in terms of years of production, how far out that extends

is there a reason to believe that Marine growth meaningfully decelerates kind of from the levels that we've seen?

What was driving the -- what's driving the growth there? And maybe touch on the growth outlook from here

your updated thoughts on your ability to kind of recover that through working capital over the near term?

has there been a change in kind of the order activity or customer interest, any noticeable change that you've seen at Gulfstream

can you give an update on getting the money, the significant funding that was in the CR under contract

if you could just clarify the comment on the 650 versus the 800. I wasn't exactly clear what you were seeing there

What is the book-to-bill assumption for embedded within your comments around working capital for the year?

Are you effectively pulling forward work today that you might see now in the future with these durability upgrades

it sounds like you ultimately do expect an impact on services growth from your lower departures growth forecast, but maybe it sounds like you are thinking more so in 2027

the production rate assumptions that are underlying your loss forecast on the 9X, if you can give us some detail there

just wanted to dig in a little bit on that second half of the year assumption on departures

Maybe if you could go into -- it looks like you're assuming neutral-ish overall working capital, maybe a slight tailwind

obviously, the shipbuilding margins in total came through better than what you had guided to. Newport News got a fair amount better. Ingalls kind of continue to step back

Could you maybe talk about the opportunity to buy additional shipyard capacity? I think you've made some comments recently in the press around that.

Would you expect the free cash flow progression, given the CapEx and working capital investments you've had to make here, would you expect that free cash flow progression back to normal to maybe be...

could you kind of break that out what's baked into that for aero, defense and IGT and I guess, transportation wheels

if you wouldn't mind running through your assumptions on your other key programs, 787, 350 and so on

I wanted to ask you progress on yield on the upgraded 1A blades and how things are going on GTFA and when you expect timing of the OneBlade [ph] upgrade certification? Thanks.

what is assumed in the cash guide for working capital? It looks like usage similar to 2024. And you know, maybe somewhere between $100 and $200 million.

could you kind of rank by segment where you would expect to see the most growth kind of highest to lowest

On CAS, and that divestiture, I think you mentioned it, Ken, but what – exactly how much revenue is assumed there?

what your growth rate would have been ex the work week comparison if you had the same number of work weeks this quarter

have you received a debrief from the Air Force and gotten some feedback there? And how are you thinking about the way forward in terms of potentially protesting the award?

is it possible that revenue growth could be in the high single digit range next year

could you give a rundown on F-35, the status there, how you're going across your different efforts there

if you were to agree with the Air Force on increased production, you wouldn't anticipate a further charge on the program

NGAD F-47, could you talk about what role, if any, you have on the Boeing aircraft?

when do you plan to incorporate the reusability for Neutron? And then how will that kind of impact cadence

Maybe could you specifically address the state of negotiations with Airbus and what they're desiring to get in terms of engines from you?

Any sort of quantification of what that might look like in terms of how much we should expect AOGs to come down in the second half of the year?

V2500, the shop visit assumption there this year, if that's held and how you think V2500 shop visits would hold up in a, let's say, flattish kind of flight hour environment

Could you just be a little bit more precise where exactly you're booking GTF aftermarket today

Could you just talk on the margin performance year-to-date and what you're expecting in Q4?

How do you see that gap closing going forward, you know, timeframe-wise?

would you expect to kind of recouple on the aftermarket relative to your peers?

Can you give us any idea by the different submarkets where you think volumes are relative to 2019?

Q1 would be the weakest aftermarket quarter, did the aftermarket end up coming in a little bit better than you would have thought

you typically target around 100 to 150bps a year of margin improvement

What are you assuming just commercial airline revenue passenger miles or ASMs, flight hours however you want to cut it?

So is the sale of all of Industrial, the more likely path from here as compared to spinning it out?

what about timing on getting the LRIP contract? Any change to expectations on the size of the charge

I wanted to ask you about the potential acceleration on MV-75. What that could look like, what that could mean for your numbers

what's the outlook for King Air? I mean the volumes have come down a fair amount there. Where could that settle out for the year

could you touch on maybe what some of the offsets were to the higher tax rate to hold the guidance

how do you think about the demand environment for Kautex given what's going on with tariffs

Are there any proceeds from the Power Sports divestiture? And are you holding on to that aftermarket piece

how do you feel about the Aviation supply chain in terms of the ramp you're looking at in terms of deliveries for 2025