Operator: Good morning, and welcome to CenterPoint Energy's Fourth Quarter and Full Year Earnings Conference Call with Senior Management. During the Company's prepared remarks, all participants will be in a listen-only mode. There will be a question-and-answer session after the managements' remarks.
I will now turn the call over to Carla Kneipp, Vice President of Investor Relations. Ms. Kneipp?
Carla Kneipp - VP IR: Thank you very much, Sarah. Good morning, everyone. This is Carla Kneipp, Vice President of Investor Relations. Welcome to our fourth quarter and full year 2012 earnings conference call. Thank you for joining us today.
David McClanahan, President and CEO; Scott Prochazka, Executive Vice President and Chief Operating Officer and Gary Whitlock, Executive Vice President and CFO will discuss our fourth quarter and full year 2012 results and provide highlights on other key activities. We also have other members of management who may assist in answering questions following the prepared remarks.
Our earnings press release, Form 10-K and supplemental materials are posted on our website at centerpointenergy.com under the Investors' section. These supplemental materials are for informational purposes and we will not be referring to them during the prepared remarks.
I'll remind you that any projections or forward-looking statements made during this call are subject to the cautionary statements on forward-looking information in the Company's filings with the SEC.
Before David begins, I would like to mention that a replay of this call will be available through Wednesday, March 6. To access the replay, please call 855-859-2056 or 404-537-3406, and enter the conference ID number 71670373. You can also listen to an online replay on our website and we will archive the call for at least one year.
With that, I will now turn the call over to David.
David M. McClanahan - President and CEO: Thank you, Carla. Good morning, ladies and gentlemen. Thank you for joining us today and thank you for your interest in CenterPoint Energy. This morning we reported full year earnings of $470 million or $0.97 per diluted share, as compared to $1.36 billion or $3.17 per diluted share in 2011.
I'd like to remind you of the unusual items that occurred during each year. In 2012, we recorded a non-cash goodwill impairment charge, as well as a non-cash pretax gain from an acquisition. In 2011, we recorded the results of the final resolution of our true up appeal. Excluding the effects of these unusual items, net income for 2012 would've been $581 million or $1.35 per diluted share, compared to $546 million or $1.27 per diluted share in 2011. Using the same basis that we used when providing guidance, full year adjusted earnings would have been $1.25 per diluted share in 2012, compared to $1.20 for 2011.
Our regulated electric and gas utilities benefited from strong service territories, timely rate recovery, mechanisms and effective expense management. Our midstream and energy services businesses performed well given the current market environment of low natural gas prices and minimal geographic price differentials. Our financial results, once again highlight the strength of our balanced energy delivery. We are looking forward to another good year in 2013. We are stronger financially than we've ever been and have good investment opportunities across all of our businesses.