“I wouldn't view that higher pension contributions as limiting, otherwise limiting our ability to continue our cash deployment strategies, and that's the key point.”

In context

“o those run out, and so we'll see a significant increase. As you know, that's pretty much noncash, but it will affect EPS. On the cash side of it, we'll see a little bit of a slight reduction anywhere between $25 million to $50 million reduction. But again, the biggest piece there is on FAS. From a cash contribution, we talked about anywhere between $500 million to $1 billion of contributions required starting in 2025. Right now, given where things are, we would expect that to be in the higher range, if not higher for 2025. And if we stay where we are, it could trigger some contributions in 2024. But I will say, when you think about cash contribution to pension and what that means, we've got an enviable position in our balance sheet. We've demonstrated that we're willing to use it. And so I wouldn't view that higher pension contributions as limiting, otherwise limiting our ability to continue our cash deployment strategies, and that's the key point. Operator: The next question is from the line of Ken Herbert from RBC Capital Markets. Please go ahead. Ken Herbert: Yes, hi. Good morning, Jay and Jim. Maybe, Jay, just to follow up on a comment you made in the prepared remarks. I think you made a comment around the buyback activity in the fourth quarter sort of dependent upon timing of the fiscal '24 budget and whether or not there is a shutdown potentially. Can you just talk about how you're thinking about the timing of the '24 budget, but very specifically, if there's any sort of shutdown, how much does that put at risk sort of the buyback activity expected in the fourth quarter? Or if it's very short, does that not impact me? Maybe you can walk through how you're viewing sort of the risks around that and impact on the fourth quarter c”