“that churn number in Q2 will reduce down to about $10 million or so.”

In context

“s is, last year, it ramped up from the first half of the back. There might be a slight ramp-down this year. But it's too early to know for sure how that's going to pan out. Rod Smith : Yeah, Batya, maybe I would just add a couple of things. One is in that in the U.S., of course, we do have Sprint churn. The timing of that is it will impact the organic tenant billings numbers over the first three quarters and then it will be absent in Q4. So the churn numbers, the raw numbers, we are looking at about $98 million to $100 million of churn revenue in 2025. We're going to start off the year at roughly a run rate of about $30 million a quarter of churn, and that includes Sprint churn. Sprint churn is a little more than half, it is about 140 basis points over those first three quarters. And then that churn number in Q2 will reduce down to about $10 million or so. Batya Levi: Got it. And the buyback? Rod Smith : And then on the new business [piece] (ph), you're right, we had about $180 million of new business in '24. That's going down to about $165 million, in that range, $170 million, right in that range. And we do see -- although we do see a dip as Steve talks about from the end of last year going into Q1 and Q2, we do think there is an acceleration -- modest acceleration that could be seen at the end of the year. When it comes to buybacks, we are we are at about 5.1 times leverage at the end of 2024. Our view is that we will be at or below 5 times early in 2025. That certainly returns us to full financial flexibility, so leverage would not be a kind of an overweight consideration as we move forward. Now with that said, we have to continue to loo”