“On a year-to-date basis, Cable CapEx intensity was 10.4%, and we continue to expect Cable CapEx intensity to be around 11% for the year.”

In context

“are paused, results will also be impacted by the challenging economic environment in Europe. And we will incur higher sports costs in the first half of 2023, reflecting the higher number of games as the season is extended and the remainder of the paused games are played. Now, I'll wrap up with free cash flow and capital allocation on slide 8. We generated $3.4 billion of free cash flow this quarter. Consolidated total capital increased 24% due to increased spending at NBCUniversal and Cable, partially offset by a decrease at Sky. The increase at NBCUniversal was driven by higher CapEx at parks, as we continue to invest in attractions and make significant progress in building Epic Universe in Orlando. Cable capital spend increased 17% with CapEx intensity coming in at 12.2%, due to timing. On a year-to-date basis, Cable CapEx intensity was 10.4%, and we continue to expect Cable CapEx intensity to be around 11% for the year. Working capital was $1 billion for the third quarter, reflecting the continued ramp in content creation and the timing of annual sports rights payments. As we enter the fourth quarter and look to our year ahead, we remain focused on driving long-term growth during an increasingly challenged economic environment. As a result, we expect we'll be taking severance and other cost reduction-related charges in the fourth quarter in anticipation of expense reduction actions that will provide benefits in 2023 and beyond. Wrapping-up with capital allocation, last month, we increased our buyback authorization to $20 billion, up from $10 billion. And during the quarter, we repurchased $3.5 billion worth of our shares. In addition, dividend payments totaled $1.2 billion for a total return of capital i”