“We intend to stay at or just below the high end of our 4 to 4.5 times target leverage range.”

In context

“er CPE and scalable infrastructure spending. We continue to expect core cable capital expenditures to be between $7.1 billion and $7.3 billion for the full year 2022. As Slide 10 shows, we generated $1.5 billion of consolidated free cash flow this quarter versus $2.5 billion in the third quarter of last year. The decline was primarily driven by higher cash tax payments and higher CapEx, mostly driven by our rural construction initiative. Excluding cash taxes, our rural construction initiative and litigation settlements, free cash flow grew by 5% year-over-year. We finished the quarter with $96.8 billion in debt principal. Our current run rate annualized cash interest is $4.8 billion. As of the end of the third quarter, our ratio of net debt to last 12-month adjusted EBITDA was 4.48 times. We intend to stay at or just below the high end of our 4 to 4.5 times target leverage range. During the quarter, we repurchased 5.8 million Charter shares and Charter Holdings common units totaling about $2.6 billion at an average price of $445 per share. Operator, we're now ready for Q&A. Operator: Thank you. [Operator Instructions] Thank you. Our first question will come from Doug Mitchelson with Credit Suisse. Your line is now open. Doug Mitchelson : Thanks so much. I think perhaps two questions. Tom, what a career and Chris, congratulations. I wanted to ask about Spectrum One first. And Tom reminds me of when you launched the triple play. The 2005 back when FiOS U-verse were launching, and it looked like a really intriguing price and value for customers, but also kind of lower than perhaps prior promotions. So I'm just hoping that you and Chris can walk through the strategy b”