Brad Hicks: I’ll start, Jason. And I think maybe you’re asking about what we might see on the truckload side and then how we think about that impacting in any way, shape, or form, Intermodal contract rates, if I understood the question correctly. We certainly have seen and expect to see downward rate pressure on the highway side. The good news is from where we sit in the evolution of our truck line and now with the combination of ICS and JBT, we are for the most part variable on our power and so we’re able to ebb and flow with that fluctuation in a much more favorable light than perhaps we were when we were an asset provider. But we do fully expect, you know I’m not going to give guidance on what we anticipate or what we’re planning for on the overall rate movement, but we certainly expect it to be down somewhat substantially just as we saw it go up somewhat substantially or abnormally two to three years ago.
We are seeing that kind of correction back downward. I think on the intermodal front, the only thing I would say is, historically and then I don’t think it’ll be any different today. Intermodal will outperform a downturn in truckload rates. I’m not going to ignore that certainly becomes a dialogue and a talking point for our customers, but the savings Intermodal offers against a truckload price continues to be significant and whatever is happening in the truckload contract pricing, Intermodal will continue to be advantageous for our customers for now and for the long-term, particularly when you add the cost of fuel in there.
Operator: Our next question comes from Bruce Chan from Stifel. Your line is open.
Bruce Chan: Hey, good morning everyone. Appreciate the time. Maybe another one for you, Brad Hicks on ICS. You talked a bit in the release about a pickup in in 2022. And I just wanted to get maybe a little bit more color on whether that was tied directly to volumes in that business, you know whether that was a structural investment in the platform or whether that was more inflationary? And then as you think about some of your comments around volumes this year, how much of an opportunity do you have to get more leverage on those costs? Thank you.
Brad Hicks: Thank you, Bruce. Part of that was by design, it was just making the point that it was a step-up from prior year as we look to continue to finish out some of the tech investments that we’ve made both at ICS and for JBT in Highway. Really focused on our ability to get productivity gains both from our people and also better transparency and visibility of our platform for both our carriers and our shippers. And so, do we feel like there’s upside as we continue to move forward? Absolutely. We’ve started to realize the benefit of those tech investments as we’ve talked about for the last few quarters, but there’s still work to be done. Even inside of 2023, we expect further build out of those technologies that will help us on productivity and overall execution of the business.
All focused on really if you think about the platform, it has enabled us to really think about how we would blend what’s historically been our live freight business, which is ICS versus our business in JBT. And through that blending, we’re able to make better decisions. The drive efficiencies help improve service and then ultimately can be a benefit to our customers through a low cost. So, that’s what our focus is going into 2023 and we expect to make continuous improvements throughout.
Operator: Our final question today comes from Jeff Kauffman from Vertical Research. Your line is open.
