Operator: Good morning. Welcome to the St. Jude Medical Second Quarter 2013 Earnings Conference Call. Hosting the call today is Dan Starks, Chairman, President and Chief Executive Officer of St. Jude Medical.
Before we begin, let me remind you that some of the statements made during this conference call may be considered forward-looking statements. The Company's 10-K for fiscal year 2012 and 10-Q for the fiscal quarter ended March 30, 2013 identifies certain factors that could cause the Company's actual results to differ materially from those projected in any forward-looking statements made this morning. The Company does not undertake to update any forward-looking statements as a result of new information or future events or developments. The 10-K and 10-Q as well as the Company's other SEC filings are available through the Company or online.
During the call, non-GAAP financial measures may be used to provide information pertinent to ongoing business performance. Tables reconciling these measures to most comparable GAAP measures are available in the Company's press release issued earlier this morning or on the St. Jude Medical website at www.sjm.com.
At this time, all participants may have been – maybe placed in listen-line-only and the floor will be opened for your questions following management's prepared remarks.
It is now my pleasure to turn the floor over to Dan Starks.
Daniel J. Starks - Chairman, President and CEO: Thank you, Matt. Welcome to the St. Jude Medicals' second quarter 2013 earnings conference call. With me on the call today are John Heinmiller, Executive Vice President; Mike Rousseau, Group President; Eric Fain, President of our Implantable Electronic Systems Division; Don Zurbay, Vice President and Chief Financial Officer; and Rachel Ellingson, Vice President of Corporate Relations.
Our plan this morning is for John Heinmiller to provide his normal review of our financial results for the second quarter and to give sales and earnings guidance for both the third quarter and full year 2013. I will then address several topics and open it up for your questions.
Go ahead, John.
John C. Heinmiller - EVP: Thank you, Dan. Sales for the quarter totaled $1.403 billion, slightly less than the $1.410 billion reported in the second quarter of last year. Unfavorable foreign currency translations versus last year's second quarter reduced this quarter sales by about $31 million.
On a constant currency basis, second quarter sales increased approximately 2% versus last year. We will update our currency assumptions in a moment, but the actual average exchange rates during the second quarter were within our previous guidance range.
During the second quarter, we recognized $160 million or $0.56 per share in after-tax charges, primarily related to the make-whole provisions of outstanding notes that were retired during the quarter prior to their scheduled maturity. For further information regarding these charges, please refer to details provided in our press release.
Comments during this call referencing second quarter and full year 2013 results, including earnings per share amounts will be exclusive of these items.