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January 25, 2012 11:00 am ET
Christopher M. Crane - Chief Executive Officer, President and President of Exelon Generation
Kenneth W. Cornew - Senior Vice President and President of Power Team
Stacie M. Frank - Vice President of Investor Relations
Matthew F. Hilzinger - Chief Financial Officer, Senior Vice President and Treasurer
John W. Rowe - Chairman, Chairman of PECO, Chairman of Exelon Enterprises, Chairman of Exelon Energy Delivery and President of Exelon Generation
Brian Chin - Citigroup Inc, Research Division
Greg Gordon - Morgan Stanley, Research Division
Hugh Wynne - Sanford C. Bernstein & Co., LLC., Research Division
Steven I. Fleishman - BofA Merrill Lynch, Research Division
James L. Dobson - Wunderlich Securities Inc., Research Division
Good morning. My name is Cassandra, and I would be your conference operator today. At this time, I would like to welcome everyone to the fourth quarter earnings conference call. [Operator Instructions] And now I would like to turn the call over to Stacie Frank, VP of Investor Relations. You may begin.
Stacie M. Frank
Thank you, Cassandra, and good morning. Welcome to Exelon's Fourth Quarter 2011 Earnings Conference Call. We issued our earnings release this morning. If you haven't received it, the release is available on the Exelon website. The earnings release and other matters we will discuss in today's call contain forward-looking statements and estimates that are subject to various risks and uncertainties, as well as adjusted non-GAAP operating earnings. Please refer to today's 8-K and Exelon's other filings for a discussion of factors that may cause results to differ from management's projections, forecasts and expectations and for a reconciliation of operating to GAAP earnings.