“We will continue to generate very meaningful and growing levels of free cash flow.”

In context

“lity to reduce leverage by up to zero five turn annually over the next several years. But we have also heard our shareholders' preference for less leverage during a lower growth period. So today, we are moving our post transaction target leverage to the low end of a new 3.5 to 3.75 times range, which we expect to achieve within three years following close. Even with this delevering, we continue to expect significant ongoing capital returns to shareholders. Lower leverage will drive some impact to our weighted average cost of capital, which should in turn positively affect valuation. It should attract a broader constituency of holders to the stock, and open the potential for improved debt ratings, including an investment grade corporate family rating. Although that is not an explicit goal. We will continue to generate very meaningful and growing levels of free cash flow. And while we always reinvest in the business as our top capital allocation priority, there are no large scale projects like RDOF or Network Evolution on the horizon. We expect to revert to normalized CapEx in the range of 7.5 to $8,000,000,000 per year by 2028. We will have significant additional capital available to return to shareholders. To overcome the perception of negative perpetuity growth implied in our valuation today, we need to win in the marketplace. And as Chris outlined, that's where we are focused. And where we believe we can drive value going forward. With that, I'll turn it over to the operator for q and a. Thank you. Operator: At this time, if you would like to ask a question, please click on the raise hand button, which can be found on the black bar the bottom of your s”