“And so that lands you in a range, which is what our long-term algorithm says, 4% to 6%. And the ambition clearly is to be at the higher end of that on a sustained basis.”

In context

“John Murphy (President & Chief Financial Officer): Let me just add one additional piece. Just keep in mind, the long-term algorithm is a long-term algorithm. And it's rooted in, first of all, what the industry typically grows by. And if you go back 30 years, there's been a handful of anomalous years, but it typically is in the 3% to 4% range. And so that's one key consideration to think about longer term. And then the second one is, as we have worked hard over many, many years now is to continue to build a differential set of capabilities to win more than our fair share of that growth. And so that lands you in a range, which is what our long-term algorithm says, 4% to 6%. And the ambition clearly is to be at the higher end of that on a sustained basis.”