Operator: Good morning, ladies and gentlemen, and welcome Baxter International's Third Quarter Earnings Conference Call. Your lines will remain in a listen-only mode until the question-and-answer segment of today's call. As a reminder, this call is being recorded by Baxter and is copyrighted material. It cannot be recorded or rebroadcast without Baxter's permission. If you have any objections, please disconnect at this time.
I would now like to turn the call over to Ms. Mary Kay Ladone, Corporate Vice President, Investor Relations at Baxter International. Ms. Ladone, you may begin.
Mary Kay Ladone - Corporate VP, IR: Thanks Sean. Good morning, and welcome to our Q3 2011 earnings conference call. Joining me today are Bob Parkinson, CEO and Chairman of Baxter International; and Bob Hombach, Chief Financial Officer.
Before we get started, let me remind you that this presentation, including comments regarding our financial outlook, new product developments, and regulatory matters contain forward-looking statements that involve risks and uncertainties, and of course, our actual results could differ materially from our current expectations. Please refer to today's press release and our SEC filings for more detail concerning factors that could cause actual results to differ materially.
In addition, in today's call, non-GAAP financial measures will be used to help investors understand Baxter's ongoing business performance. A reconciliation of the non-GAAP financial measures being discussed today to the comparable GAAP financial measures is included in our earnings release issued this morning and available on our website.
Now, I'd like to turn the call over to Bob Parkinson.
Robert L. Parkinson, Jr. - Chairman and CEO: Thanks, Mary Kay. Good morning. Thanks for calling in. We're pleased today to announce financial results for the third quarter, and also to provide you with an update on our full year 2011 outlook. As you saw in this morning's press release, adjusted EPS of $1.09 per diluted share increased 8% versus the prior year and was at the high end of our guidance of $1.07 to $1.09 per diluted share. Third quarter sales growth was 8% on a reported basis and after adjusting for FX, sales growth was 3%. Excluding the sales that were related to the generics injectables business that we divested earlier in the year, sales growth was 10% on a reported basis and 4% excluding the impact of foreign currency.
The evolving global macro environment will exert ongoing pressures on our business creating challenges that we will manage with disciplined execution of our strategies. We continue to benefit from the diversified and medically necessary nature of our portfolio, our broad geographic reach and strong financial position, which provides us with the flexibility to invest in innovation, advance our new product pipeline and augment future growth with select business development initiatives.
In the third quarter, R&D spending accelerated 15%, supporting progress of investigational therapies in late-stage clinical development and success in obtaining approvals and launching innovative products in the global marketplace.