“For the year, we expect F-35 deliveries to be lower than previously anticipated due to software maturation with the Tech Refresh 3 program and hardware delivery timing.”

In context

“300 million of capital expenditures, as well as over $600 million of accelerated payments and continued support of the supply chain. Our cash deployment plan is on track, which we expect to accelerate throughout the year. In the quarter, we had $500 million of share repurchases and paid almost $800 million in quarterly dividends. Total cash return to shareholders in the quarter was 101% of free cash flow. Moving to segment results and starting with Aeronautics on chart seven. First quarter sales at Aero decreased 2% year-over-year. Lower F-35 production sales were partially offset by higher F-16 and classified program volumes. Operating profit was slightly lower than prior year as the impact from lower net profit adjustments and sales volume was partially offset by favorable contract mix. For the year, we expect F-35 deliveries to be lower than previously anticipated due to software maturation with the Tech Refresh 3 program and hardware delivery timing. We will refine the impact as the year progresses, but do not expect the change to Aero’s 2023 sales and profit ranges that we had previously communicated in January as we maintain our production cost throughput profile for the year. Looking at Missiles and Fire Control on page eight, sales decreased 3% as lower sales volume on sensors and global sustainment, as well as our tactical strike missile programs were partially offset by growth in integrated air and missile defense. Segment operating profit was down 2%, driven by lower sales volumes and net profit adjustments, partially offset by favorable contract mix. At Rotary and Mission Systems on page nine, sales were down 1% from 2022, driven by lower volume on Black Hawk production and our C6 ISR programs. These declines were partially of”