“And we know that’s what you expect from the premier, transmission and distribution company one that’s deploying $31 billion of capital for our customers with rate-based growth and ROEs resulting in 6% to 8% earnings and dividend growth and a total shareholder return of 9% to 11%.”

In context

“e making returns on our investments in line with those allowed by our jurisdictions, earning ROEs in the 9% to 10% range. As a result, we expect to deliver on our earnings guidance for 2023, maintain our focus on a strong balance sheet and execute on a number of rate cases this year to sustain operational and financial performance in the future. As we deliver on this plan, we will continue to focus on the value we are providing our customers. This includes not only continuing to advocate for policies that keep the customers as top priority, but also continuing to evaluate our own business to find efficiencies as a more focused transmission and distribution only utility. Like 2022, we have a lot we want to accomplish in 2023. But we again, expect to be successful because that’s what we do. And we know that’s what you expect from the premier, transmission and distribution company one that’s deploying $31 billion of capital for our customers with rate-based growth and ROEs resulting in 6% to 8% earnings and dividend growth and a total shareholder return of 9% to 11%. As always, thank you for your time and support. And we’ll now take your questions. Operator: Thank you. [Operator Instructions] Our first question comes from the line of Nick Campanella from Credit Suisse. Nick Campanella: Hey team. Thanks. Calvin Butler: Good morning, Nick. Nick Campanella: Thanks for taking my question here. Good morning. Good morning. I think in your prepared remarks, you said you’re going to include the CMAT as a deferred tax asset. And just – can you just give us more color on what’s informing your position on regulatory treatment here? And then separately, it sounds like the CMAT is not included in the FFO to debt metrics. You’re at the bottom of the 13% to 14%, but where did you kind of shake out in 2022? Thanks. Calvin Butler: Sure, Nick. Thank you. I’ll start, an”