“Our expectations for full year 2023 capital expenditures have not changed in part, because the costs associated with our network evolution and rural construction initiatives are coming in as planned.”

In context

“by Charter’s subsidized rural construction initiative and continued network expansion across residential and commercial greenfield and market fill-in opportunities. I would also note that in the first quarter we saw a sequential decline in total CapEx associated with our subsidized rural construction initiative as we purchased a significant amount of rural construction equipment inventory as supply chain issues improved in the fourth quarter. First quarter capital expenditures, excluding line extensions, totaled $1.6 billion compared to $1.3 billion in the first quarter of 2022. We spent more on upgrade rebuild given our network evolution initiative. Customer premise equipment, which includes installation costs, was higher year-over-year, and support capital was also up just given timing. Our expectations for full year 2023 capital expenditures have not changed in part, because the costs associated with our network evolution and rural construction initiatives are coming in as planned. For the full year, we continue to expect capital expenditures excluding line extensions to be between $6.5 billion and $6.8 billion. Following the expected completion of our network evolution initiative at the end of 2025 or the beginning of 2026, CapEx, excluding line extensions as a percentage of revenue, should decline to below 2022 levels and continue to decline thereafter. And we expect 2023 line extension and capital expenditures to reach approximately $4 billion. We continue to expect 2024 and 2025 line extension CapEx to look similar to our outlook for 2023 at approximately $4 billion per year. And our 2024 and 2025 line extension capital expenditure expectations assume that we win funding for or otherwise commit to additional rural spending. As Slide 10 shows, we generated $664 m”