“At the end of the third quarter, we had $310 million remaining under our current share repurchase program, which we expect to complete by the end of the year.”

In context

“sses on our 2023 tax return. $3.2 billion of these capital losses offset capital gains related to the IQOS transaction and the partial sale of our investment in ABI. We have $5.6 billion of capital losses remaining from the Juul investment, including $900 million that are available to offset capital gains through 2028. For financial statement purposes, none of the tax benefit for the $5.6 billion has been recognized. We remain committed to returning significant value to shareholders and maintaining a strong balance sheet. We demonstrated this commitment in the third quarter when we paid approximately $1.7 billion in dividends and raised our dividend by 4.1% in August, marking our 59th increase in the last 55 years. In the third quarter, we repurchased 13.5 million shares for $680 million. At the end of the third quarter, we had $310 million remaining under our current share repurchase program, which we expect to complete by the end of the year. In addition, our balance sheet remains strong. Our total debt to EBITDA ratio as of September 30th was 2.1 times in line with our target of approximately two times. With that, we'll wrap up and Billy and I will be happy to take your questions. While the calls are being compiled. I'll remind you that today's earnings release and our non-GAAP reconciliations are available on altria.com We've also posted our usual quarterly metrics which include pricing, inventory and other items. Let's open the question-and-answer period. Operator, do we have any questions? Operator: Thank you. [Operator Instructions] Our first question comes from Matt Smith with Stifel. Please go ahead. Matt Smith: Hey, good morning. Billy Gifford: Good morning Matt. Matt Smith: If we could start with you reiterated the gu”