Doug Harned: Thank you. Good morning. On Pratt, you’re talking about 15% to 20% growth in the aftermarket and the legacy programs this year. One of the things that we’ve been concerned about has been capacity constraints just it’s taking longer if they get a V2500 into a shop for an overhaul and longer to get it through. When you look at that upside you’re forecasting, how are you thinking about the capacity issue labor availability? And is there potentially further upside from that if you can actually get €“ have more success there?
Greg Hayes: Doug, let me start with that, and maybe Chris will add. So as we think about the outlook, you’re right to say that we see the large commercial engine €“ legacy commercial engine shop visits up 15% to 20%. Think about the Vs being up around 20%, and if you think about the math there, we were a little over 700 or so as we exited 2022. So that puts us in the mid-800s, kind of a range expectation for 2023, which is a level we’ve been at before. So as it relates to capacity, we have that level of capacity for the legacy shop visits. And it really then comes back to the conversation we’ve been having here for the last hour about ensuring that the supply chain is there and ready to support that level of shop visit inductions, which again, we’ve been planning.
These expectations are in line with the numbers that Chris put out there back in May of 2021. So again, the supply chain, I think expects this level of an uptick in our shops to as well. In terms of €“ is there upside as you think about retirements of this aircraft, for example, it was 21 aircraft in the last year got retired that V2500 powered. So I’m not going to get ahead of ourselves. But I think that when you look at the dynamics around OE deliveries today of new aircraft, we think the V2500 still has a lot of life left in it. About a third of that fleet has yet to see its first shop visit, and so I’m cautiously optimistic that we will see that fly for a longer period of time at these elevated levels. Chris, I don’t know if there’s anything else you want to add to that?
Chris Calio: Doug, I would add that you’re right, turn times have been elevated on V and other platforms. And so we don’t see as many supply chain constraints there, perhaps as we do in other areas. I would say the labor is stabilizing. Again, you bring in people off the street to do MRO, there is a learning curve associated with that individual becoming a productive technician and maintenance personnel. But we believe we’ve got the plan in place there. In terms of upside, I mean, again, if you listen to lessors and others out there today, and Neil kind of referenced this, given the supply chain challenges we’re having on perhaps new production, you’re seeing airlines hold on to older assets longer, signing up for longer leases. So again, it kind of goes to the life of the V2500 maybe being some upside there.
Doug Harned: And just really quick, what was the favorable contract adjustment, the size of that Pratt for the quarter?
Neil Mitchill: From an operating profit, think about a few pennies.
Doug Harned: Okay. All right. Great. Okay. Thank you.
Neil Mitchill: Welcome.
Operator: Thank you. Our final question will come from the line of Seth Seifman of JPMorgan. Your question please, Seth.
