“And we expect on the 787, that will actually surpass what they were in 2018 by the end of the decade as well.”

In context

“Jay Malave (Executive Vice President and Chief Financial Officer): Doug, just on the program cash margins, there's really no change to what we've talked about before. And certainly, today, we're at depressed levels, slightly above breakeven on 737 and 787, and that's largely due to these pricing drags that I talked and walked you through in January. It does take some time for us — for those to fully dissipate and the benefit of our delivery cadence will drive that and dictate as those diminish. We'll also get the benefit of — as we increase rates, just the benefit of fixed-cost absorption on our costs. And in addition, we will see better priced delivery of the backlog. In addition to that, we also are compounded by that is the fact that we'll have better mix. And so all those taken together will drive us to margins that will approximate on the 737, what they were in 2018 by the end of the decade. And we expect on the 787, that will actually surpass what they were in 2018 by the end of the decade as well. And what I'll tell you there as well is that there's runway beyond that. As we go beyond the decade, there's even room for those to continue to improve. And that's because of what's in the backlog. The beauty of our backlog is that it's visible. And we talked about this. I think the team talked about this, I think, very clearly at the Airshow. It's all about execution for us, and we're all in this together. And if we can execute on these rate increases and deliver on our commitments to our customers, then the cash flow is going to follow.”