Steven Nielsen: Yes. So we do provide a wide range of services. AT&T, Noelle, as I mentioned or as we had in our comments, we are starting a large locating agreement with them. We’re going to hire 200, 300 people for that contract in the fourth quarter. So we see that as a growth area. We have the wireless. And then, of course, we have the maintenance MSAs as well as the fiber programs. And I guess what I would say is last week at an investor conference, AT&T reiterated a long-term plan through 2025, talked about the components of those fiber passings. And certainly, that is a significant factor in our business. But it’s not the only thing we do for them and we still see some good opportunities there.
Noelle Dilts: Okay. And then, just on — you mentioned the federal capital coming into the market. It looks like they’re moving through the mapping process. Any thoughts on how you’re thinking about the timing of the federal capital flowing in? Is that kind of a late calendar 2023, 2024 event? Any thoughts there would be appreciated.
Steven Nielsen: Yes. So the map was, I think, published November 18 or sometime last week. And that starts a challenge process to refine the addresses that are truly unserved or underserved. That concludes in January. And then the NTIA announced that they’d like to have final decisions made by the end of June. I thought it was interesting, Noelle in the approach that they’re taking around the challenges that you can both challenge on actual capability to an address or also what’s advertised to that address. And so we may find out that there are more underserved addresses than people think. So I think it’s encouraging but I don’t want to diminish the impact that we’ve seen in the rural fiber with RDOF with state funds and actually CARES Act and ARPA, there’s just a number of programs that are already underway in providing public capital.
Operator: And our next question comes from the line of Avi Draswood with UBS.
Unidentified Analyst: It’s Avi Draswood on for Steve Fisher. So it looks like headcount is continuing to grow at about 2% year-over-year. Just wondering you could have hired more people; would you have done so? Or how much of a restraint on growth has labor been?
Steven Nielsen: Yes. I think what we’d say, Avi, is that it’s still a tight labor market. We’re sub-4% unemployment. It’s a little bit easier to hire than 6 months ago. But that just means a little bit. There’s still — it’s still something that we’re working hard at. We continue to improve on our ability to recruit and onboard. And so I do think that it’s a little bit better. It’s always — we always get the work done that we get done. Had we got more people, we probably would have gotten more work done but it’s always hard to quantify that exactly.
Unidentified Analyst: Makes sense. And I guess also, so you booked a few 3-year contracts. Are you getting more comfortable booking muti-year deals? And how are you managing the cost risk in these contracts compared to, say, earlier in the year or a year ago?
Steven Nielsen: Well, I think clearly, we as well as everybody else in our industry is aware of the effects of inflation. So we have to be thinking about when we make those commitments, what the cost curve is going to be not only now but next year and the years after. I think we continue to be comfortable in doing that as long as we make sure that we get it right because we don’t want to make commitments that we can’t keep. And that’s always our first objective, particularly in a time of uncertainty and where you still have pretty significant inflation. I mean, cost inflation, particularly on the capital equipment side, labor, I mean it’s still there.
