“with the year-over-year reported segment operating profit growth to be more than 25%.”

In context

“e Heck, visiting the F-35 production line as part of his Arsenal of Freedom industry tour. The visit underscored Lockheed Martin's role in driving acquisition transformation, delivering critical capabilities to the US and its allies. Our mile-long Fort Worth facility employs more than 19,000 people, and over 1,900 suppliers across the United States contribute to the F-35 supply chain, providing skilled jobs to many thousands more Americans nationwide. Together, these talented Lockheed Martin and supplier employees enable an F-35 production rate that is five times faster than any other allied fighter currently in production, highlighting the program's scale and maturity. With regard to our 2026 financial outlook, we expect year-over-year sales growth to be approximately 5% at the midpoint, with the year-over-year reported segment operating profit growth to be more than 25%. Free cash flow is anticipated to be in the range of $6.5 to $6.8 billion, which is well above our prior expectation and includes a year-over-year increase in investment of about 35%, with capital and independent research and development approaching $5 billion in 2026, which is a step function increase in internal investment. Given the size and scope of Lockheed Martin, in 2026, we will continue our disciplined and dynamic approach to capital allocation, enabling the step function increase in internal investment to fund capacity and growth. Evan will provide more detail on our 2026 outlook in a moment. Turning to our programs and highlights. First, on the F-35, during the fourth quarter, we delivered 48 F-35 aircraft, bringing total deliveries in 2025, as I said, to 191, beating our own ex”