“That flips back to a headwind of a decent amount, we think, now in the fourth quarter.”

In context

“n normal seasonal step-up in the operating ratio in the fourth quarter versus the third quarter. Can you just sort of elaborate a little bit on that? That would be helpful. Jennifer Hamann : Sure, Chris, and thanks for that question. You did hear right. So the 60% is the reported operating ratio. So that does include the impact of the PEB, the $114 million that we took the charge for relative to the change in estimates as well as the ongoing impact, which, as I mentioned in my remarks, was $19 million in the third quarter and will be likely a similar amount in the fourth quarter. So we absolutely do have that cost inflation. You also, I think, referenced fuel. That is going to flip on us, we believe, from third quarter to fourth quarter where it was a tailwind for us in the third quarter. That flips back to a headwind of a decent amount, we think, now in the fourth quarter. So that's going to be an impact. And of course, mix was a little bit negative for us here in the third quarter. That's probably going to look a little bit worse as we move into the fourth quarter. So kind of putting all those things together cumulatively on a sequential basis, we are expecting the operating ratio to deteriorate some even as we're bringing more volume on and still working to take costs out of the network. But we have those headwinds. And as you know, with those inflationary things, in particular, while we're very confident we're going to offset that with price, there is some timing there. Operator: Our next question is from the line of Jason Seidl with Cowen and Company. Jason Seidl : Wanted to focus a little bit on the intermodal side and break up between both domestic an”