Operator: Good afternoon, my name is Stephanie and I will be your conference operator today. At this time, I would like to welcome everyone to the Skilled Healthcare Group, Inc. Q2 2012 Earnings Conference Call. Thank you.
I will now turn the conference over to Roland Rapp, Please go ahead sir.
Roland Rapp - EVP, General Counsel, and Chief Administrative Officer: Thank you, Stephanie. Good morning. I'd like to welcome everybody to Skilled Healthcare's quarterly earnings conference call and introduce our presenters, Boyd Hendrickson, Chairman and Chief Executive Officer; and Dev Ghose, our Chief Financial Officer.
Before we begin, I'd like to note that certain statements and information that we discuss this morning maybe deemed to be forward-looking statements. These statements include statements relating to our objectives, plans and strategies, as well as statements that are not historical fact, but that address activities, events, or developments that we expect or anticipate will occur in the future.
Any forward-looking statements discussed on this call are made as of this date and Skilled Healthcare undertakes no duty to update or revise them. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties. Important factors that could cause actual results, developments, and business decisions to differ materially from our forward-looking statements are described in our filings with the Securities and Exchange Commission.
Additionally, as we discuss performance, we'll be referring to adjusted net income and adjusted net income per diluted share. We will also be discussing EBITDA, EBITDAR, adjusted EBITDA and adjusted EBITDAR, and adjusted net income per share which we use as measures of performance, but are not considered measures of financial performance under generally accepted accounting principles.
EBITDA is net income before depreciation, amortization and interest expense, net of inertest income, and the provision for income taxes. Adjusted EBITDA excludes from EBITDA non-recurring, non-core business items, which for the periods reported includes debt retirement cost, losses on disposal of assets, the expenses related to the expiration of strategic alternatives and the exit costs related to our Northern California divestiture. EBITDAR is EBITDA excluding rent cost of revenue. Adjusted EBITDAR is adjusted EBITDA excluding rent cost of revenue. Adjusted net income per share is net income per share excluding certain non-recurring, non core business items noted in the earnings release that we issued yesterday.
Please see the definitions in reconciliation of the non-GAAP measures included in our earnings release that we issued yesterday, which can be located on the Investor Information section of our website at www.skilledhealthcaregroup.com.
With the exception of the foregoing measures, this report and our discussion today are presented on a consolidated basis under generally accepted accounting principles, and as such, references to the Company, Skilled Healthcare Group, Skilled Healthcare, us, we, and our, refer to Skilled Healthcare Group, Inc. and each of its consolidated subsidiaries.