“I don't see a big step up in CapEx relative to that multiyear PAC-3 because, for the most part, we've made the major investments already going forward in terms of CapEx.”

In context

“e enter into a new opportunity where we get to reprice, we want to make sure that we, as Jay has said, underwrite that contract to ensure it's a fair contract, and we can make money on that. You know, as I look at the broader question about increasing in rate or increasing an investment from the executive order and the Department of War. Look. We've invested ahead of contract on F-47. I think it was a key part of our win strategy, and I think the department clearly recognizes that we went out at risk and made significant investments. We have also invested in the PAC-3 capital to increase the PAC-3 production line. I suspect we will get to a multiyear similar to what you've seen elsewhere with the government on the PAC-3 contracts. So we're in discussions now with the Air Force on that. So I don't see a big step up in CapEx relative to that multiyear PAC-3 because, for the most part, we've made the major investments already going forward in terms of CapEx. You know, the rest, finishing the F-47 investment is probably our major, you know, our major capital investment here going forward in our defense portfolio. Seth Seifman: Great. Thank you very much. Operator: Your next question comes from the line of Ron Epstein from Bank of America. Your line is open. Ronald Epstein: Yeah. Hey. Hey. Good morning, guys. Kelly, maybe a broader, bigger picture question for you. You know, we can, I guess, nail that on some of the financial details with Eric after the call. But so you've been to the company now for well over a year. Doing god's work, running around. Fixing things. But here's the question. It's an effective duopoly with you guys in Airbus. I mean, there's some folks on the fringe, but it's really the two of you guys. And it seems like on a ver”