Operator: Ladies and gentlemen, thank you for standing by. Welcome to the Third Quarter 2012 Earnings Teleconference. At this time, all lines are in a listen-only mode, later we will conduct the question-and-answer session. Instructions will be given to you at that time. As a reminder, today's conference call is being recorded.
I would now like to turn the conference over to Mr. Eric Durant. Please go ahead.
Eric Durant - SVP, IR: Thank you, Cynthia. Good morning. Welcome to Prudential's expanded third quarter call to cover third quarter results and our financial outlook for 2013. Slides supporting the financial outlook presentation are available at our Investor Relations website, www.investor.prudential.com.
Representing Prudential today are the usual suspects; John Strangfeld, CEO; Mark Grier, Vice Chairman; Rich Carbone, Chief Financial Officer; Charlie Lowrey, Head of Domestic Businesses; Ed Baird, Head of International Businesses; and Peter Sayre, Controller and Principal Accounting Officer.
In order to help you to understand Prudential Financial, we will make some forward-looking statements in the following presentation. It is possible that actual results may differ materially from the predictions we make today. Additional information regarding factors that could cause such a difference appears in the section titled 'Forward-Looking Statements' and 'Non-GAAP Measures' of our earnings press release for the third quarter of 2012, which can be found on our website at www.investor.prudential.com.
In addition, in managing our businesses, we use a non-GAAP measure we call adjusted operating income, to measure the performance of our Financial Services Businesses. Adjusted operating income excludes net investment gains and losses as adjusted and related charges and adjustments, as well as results from divested businesses. Adjusted operating income also excludes recorded changes in asset values that are expected to ultimately accrue to contractholders and recorded changes in contractholder liabilities resulting from changes in related asset values.
Our earnings press release contains information about our definition of adjusted operating income. The comparable GAAP presentation and the reconciliation between the two for the quarter are set out in our earnings press release on our website. Additional historical information relating to the Company's financial performance is also located on our website. John?
John R. Strangfeld - Chairman and CEO: Thank you Eric and good morning, everyone, and thank you for joining us. We appreciate your interest in Prudential. I'll be reasonably brief to leave more time for Rich and Mark to expand their comments as well as for your questions, so let me begin.
In the third quarter last year EPS based on operating income based increased for the two quarter of this year 82%, reflecting -- compared to last year, which is a reflection of weak equity market performance last year and favorable equity markets this year. Excluding the effect of market driven industry items, such as DAC unlockings from the results of each period earnings per share increased by 17% from $1.49 in the third quarter of 2011 to $1.75 in the third quarter of 2012. On the same basis, our annualized return on equity for the third quarter reached 11.8%.