John Godyn

I was hoping that you guys could just paint the picture and illustrate the impact and contribution from BDS and BGS

BCA margins this year, next year, kind of how do you see the play-by-play evolution with so much going on

It stands to reason that the normalized free cash flow figures out could be much higher, many billions higher than $10 billion

I'm curious if there's a point where it becomes more of a strategic question about the fleet plan, accelerating retirement, getting out of an aircraft type

Is there anything you guys can just help us with kind of putting some bookends or some dimensions around back-half capacity growth, what the pivot points are?

is that the broader environment? Is that market share gains? Anything you can say to help us unpack that would be fantastic

Maybe you can speak a bit about the sensitivity of that portfolio to extended CRs

Do you feel like you guys are doing something special, obviously, executing well, but special

Can you elaborate a bit more on combat systems and technologies just in light of the priorities proposed in the $1.5 trillion

maybe you could just kind of remind us what the appetite and the view on buybacks may be if you continue to execute well this year

with commercial aerospace productions volumes ramping, do you think there's any knock-on impact on Bizjet supply chain, whether it's demand for materials, subcomponents, labor

I wanted to keep digging into the trend in munitions. You had so many positive callouts in the prepared remarks. Obviously, we've seen a lot of growth in the weapon systems and munitions subsegment

Are we just structurally underappreciating the resilience of the business and its ability to compound value through complex macro backdrops

I'm just curious to what extent this momentum has carried through to start the year

how to think about shipbuilding margins through the remainder of the year, just by quarter

there seems to be an argument to continue leaning into M&A. And I wanted to take your temperature there

How you're thinking about M&A versus buybacks. And with M&A, we saw the consolidated aerospace manufacturing deal, which was a bit larger.

how you're balancing growth investments versus M&A versus repurchases?

I wanted to revisit the shape of the year and the comments about kind of revenue and margins around the shape of the year

I wanted to ask about SMS and CSD. And I'm reminded of a very cool chart you guys had at the Investor Day

what the revenue outlook for RemainCo LHX RemainCo might look like over the next couple of years

give people confidence in the revenue growth outlook from here, the possibility of accelerating revenue growth

What is that impacting the competition for talent? How is that impacting contracting

how much incremental investment it takes to replicate assets that are thought to be impossible to replicate

you were pivotal and central to the [indiscernible] deal many years ago. I feel like there must be learnings from that

What is literally in that number and what isn't? It sounds like there's a low expectation of the ancillaries coming in, but it's not like you have 0

what is your overall broad assessment of demand for space as it relates to defense

I wanted to revisit the quarterly cadence in inorganic growth. I I think I I heard you say that it's going to accelerate throughout the year

you guys will be putting up the largest organic growth on the 10% comp this year. So the two year over year rate is gonna be quite dramatic

I wanted to just spend a second on the international opportunity in defense.

it feels like perhaps guidance is even a bit conservative. Maybe you could just revisit the outlook a bit and the shape of the year and how you see it playing out

Which one do you think has the most scope for exceeding guidance based on the demand signals that you're seeing recently?

you could talk a bit more about the CapEx outlook across the segments

when you think about the amount of new kind of industrial compounders, industrial roll-ups, companies focused on finding niche highly engineered products, et cetera, it definitely feels a little mo...

when we see all these strong demand trends in defense, is that going to translate immediately? Like can you maybe just talk about the short-cycle elements of your portfolio a little bit more?

talk about the customer reaction to that and talk about and elaborate on the very strong demand trends

the direction of rotorcraft innovation arcs and kind of where you see that market going and how Bell is positioned?

There's a lot of activity there and fuel prices have doubled. So on the aviation side, it's hard to believe that a doubling in fuel prices doesn't impact things

In a world where the budget was higher, is that part of, you know, a guiding light for adding capabilities, accelerating growth in what you call high-quality areas of A&D

between Bell and systems, by the math, you guys have a lot of defense exposure. But more specifically, where do you think the points of leverage would be to the upside

you're not expecting all the other carriers to slash capacity or something like that driving your pass-through. Is it safe to say that?

If we could maybe get a little bit of geographic color kind of how pass-throughs are evolving in your opinion, internationally versus in the domestic market

what you think equilibrium in the industry looks like