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Covanta Holding's CEO Discusses Q4 2011 Results - Earnings Call Transcript

Today's slide deck is substantial to say the least. We have a number of appendix slides that Tony and Sanjiv will reference throughout their remarks, but might not discuss in detail. We continue to try to improve this level of transparency around our results. You will see additional data and analysis and hopefully will find it useful. As always, we look forward to your input. If you have any additional questions on these slides, we can discuss them during the Q&A portion of the call or offline.

Now, on to the Safe Harbor. The following discussion may contain forward-looking statements and our actual results may differ materially from those expectations. Information regarding factors that could cause such differences can be found in the company's reports and registration statements filed with the SEC.

The content of this conference call contains time sensitive information that is only accurate as of the date of this live broadcast, February 9, 2012. We do not assume any obligation to update our forward-looking information unless required by law. Any redistribution, retransmission or rebroadcast of this call in any form without the express written consent of Covanta is prohibited.

The information presented includes non-GAAP financial measures. Reconciliation to the most directly comparable GAAP measure and management's reasons for presenting such information is set forth in the press release that was issued last night as well as in the slides posted on our website. Because these measures are not calculated in accordance with U.S. GAAP, they should not be considered in isolation from our financial statements, which are prepared in accordance with GAAP. It should also be noted that our computations of free cash flow, adjusted EBITDA and adjusted EPS may differ from similarly titled computations used by other companies.

With that, I'd like to turn the call over to our President and CEO, Tony Orlando.

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