HCA Healthcare, Inc.

degrees on leverage and how much share repo is assumed in the 2021 guidance.

All right, Peter, thank you. Peter, this is Bill. Thank you. Yes, at a current level, you could probably assume most, if not all, of our free cash flow will be dedicated to share repurchase. But as we've said, we have ample capital capacity ending the year, both in terms of cash on the balance sheet as well as access to our short-term revolvers and bank commitments on there. So we've got capacity to execute. you know, as I said, on the majority of the share we purchased. And then we'll evaluate the market conditions as they present to fine-tune the cadence of that. As we said, we believe lowering the leverage ratio is the right thing to do given where we are today and what our outlook is. And we do anticipate a running at the, you know, mid to low end of that as we execute on all of our capital philosophies. And I think that leaves us in a a very strong position to pursue, you know, any acquisitions that may present themselves, as Sam talked about. So I think all of those are part of our comprehensive plan.

So just to sort of follow up, how much share repo do you assume in your 2021 EPS guidance? And do you think you guys can get to an SMG credit? at these current leverage rates? Yeah, thanks.