“return at least $18 billion to shareholders via dividends and repurchases”

In context

“implications and will have more to share when we report on our second quarter results. Lastly, we assume our programs are funded in a timely manner to support operational needs and the outlook does not include a pension contribution for this year. Looking beyond our strong 2025 guide, the current backdrop supports sustained backlog strength with improved U.S. and international budget opportunities. This provides a line of sight to stronger sales growth rates through 2027 than previously expected. This steady top-line growth combined with operational improvements are expected to provide a solid foundation for consistent free cash flow generation. That enables our capital deployment priorities over the next three years. Namely to invest over $10 billion in R&D and capital expenditures, and return at least $18 billion to shareholders via dividends and repurchases, all while continuing to fund required pension contributions. In summary, on Chart ten, we're off to a solid start in 2025 and have a strong focus on operational excellence to ensure we deliver on our customer and programmatic requirements while also building momentum towards delivering our full-year guidance. In parallel, we remain committed to investing for the future and creating long-term value for our customers and shareholders. With that, Sarah, let's open up the call for Q and A. Operator: You may remove yourself from the queue at any time by pressing star then one again. If you are using a speakerphone, please pick up the handset before pressing the number. Once again, if you have a question, please press star then one at this time. Your first question comes from David Strauss wit”