“So, we have tight thresholds. We use a lot of financial discipline around these things. And it's too early to really comment in terms of how much activity, but we do not -- as we anticipate the activity here, we do not anticipate any change to CapEx intensity from what we can see.”

In context

“months ahead leading up to opening day. Dave Watson: Hey, Craig, Dave here. So, on BEAD, obviously the process is ongoing. To the extent, we are successful and we will -- we're looking at it and planning around it. I think we certainly expect to be there. This is more of a 2025-and-beyond opportunity. So, this is active federal -- really the state levels -- a lot of the states have offices of broadband established to look at this. And the rules are being finalized as we speak, and assuming the final state BEAD participation rules allow for rational private sector investment and do not impose price controls or other things that exceed the statute, we will -- we do plan to participate with reasonable conditions, so -- and always -- as long as they're just consistent with our business goals. So, we have tight thresholds. We use a lot of financial discipline around these things. And it's too early to really comment in terms of how much activity, but we do not -- as we anticipate the activity here, we do not anticipate any change to CapEx intensity from what we can see. So, as always, if there are unique opportunities that fit within our financial returns, then we'll always evaluate that. Jason Armstrong: Hey, Craig, let me broaden that out to footprint expansion in general and just sort of our philosophy there. We've obviously accelerated our footprint expansion couple of years ago. If you rewind the clock, we were at 800,000 homes passed per year. Dave and team has sort of nicely driven that to 1.2 million homes and pacing towards that this year. What underpins that view and how we're underwriting it, because obviously we're putting capital towards it, is a view of sort of structural competitive environment over the long term. And from our perspective as we see it, the two key competitors, as you look at it this past year, fixed wireless has obviously”