John Plant: Yes. So first of all, where we file our K, which I think we are anticipating to be this evening, you’ll see the final outcome for price in 2022. And the — and that just evolve straight, if you could almost like take Qs one through three and the pro rata for the year. So it’s a good outcome there. In 2023, I think you can expect a similar number in terms of price increase. So it is part of the methodology that I talked about for some years now, and it was not a one-off correction but more of the ongoing ability that we have to reflect value for the Howmet products that we bring to the marketplace. Our LTA cadence is pretty well set. We’ve already been in to now into the 2024s and so on because we are probably 85% to 90% complete already for 2023.
So that’s in good shape. Most of our conversations have been €“ it’s and conversation as I call it, it’s share because of our resiliency in terms of ability to build. And we started to see now an increase in spot business availability to us. So that’s again good. And, clearly, we’ve always sought in recent times to protect ourselves for, let’s call it, those inflation elements which are not part of that 95% plus raw material. So we’re in good €“ an improving condition there as well, Rob. So, across the whole sector or questions that you’re in good shape.
Robert Spingarn: Is there any way to quantify the share gain opportunity over time? Is there an algorithm or something we can look to?
John Plant: What I’d love to do one day is to call out for you, this is the aircraft build rate, and this is the amount of rates that should €“ a higher rate for Howmet. I haven’t done it yet. I’ve just felt, we’ve got so many different segments to cover. And so it’s been a particular skew of fundamentally relative differential rates of growth between Boeing and Airbus between narrow-body, wide-body, I felt that there have been so many elements of volatility of those demand pattern changes that come the day. And it will happen, Rob. One day, we’ll be in that more €“ equanimity, where Boeing and Airbus settle into a future pattern, narrowbody and widebody will settle into that future pattern. I think production rates are going to come up and steady.
And then that will be like the golden days, which are yet to come for all aerospace and aerospace suppliers at Howmet, in particular. So I think those conditions are coming, they’re not yet here. I don’t know I’m not saying, they’re here for 2023. That’s very clear what I talked to you earlier in this call about, but those things are going to happen. And I know, whether it’s back half of 2023 or is it 2024, or is it 2025? I don’t know yet. But at some stage, it will happen. And I think prior to that then I’d like to be able to say, this is the Howmet growth rate and to give you the percentage above aircraft build. And at that point, I feel confident in giving it to you rather than have it muddied by these €“ really these fundamental instability of narrow-body, wide-body Boeing, Airbus, et cetera, et cetera.
So I think that’s the appropriate time, Rob.
Robert Spingarn: That’s great. Thanks, John.
John Plant: Thank you.
Operator: Our next question will come from Ron Epstein with Bank of America. Please go ahead.
Ron Epstein: Hey. Yeah. Good morning, John.
John Plant: Good morning. Good morning.
Ron Epstein: Just a lot of the questions are focused on the company’s new supply, but let’s kind of go the other way. How is the health of your supply chain? And what are you seeing there? To help some of those suppliers out, I mean, what’s going on there, if you can give us a feel for that?
