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Ralph Izzo - Chairman, Chief Executive Officer, President, Chairman of Executive Committee, Chairman of PSEG Power LLC, Chairman of Public Service Electric & Gas Company, Chief Executive Officer of PSEG Power LLC and Chief Executive Officer of Public Service Electric & Gas Company
Caroline D. Dorsa - Chief Financial Officer and Executive Vice President
Paul B. Fremont - Jefferies & Company, Inc., Research Division
Nathan Judge - Atlantic Equities LLP
Jonathan P. Arnold - Deutsche Bank AG, Research Division
Michael Goldenberg - Luminus Management, LLC
Michael J. Lapides - Goldman Sachs Group Inc., Research Division
Julien Dumoulin-Smith - UBS Investment Bank, Research Division
Ladies and gentlemen, thank you for standing by. My name is Brent and I am your event operator today. I'd like to welcome everyone to today's conference, Public Service Enterprise Group Fourth Quarter 2011 Earnings Conference Call and Webcast. [Operator Instructions] As a reminder, this conference is being recorded, today, Thursday, February 23, 2012, and will be available for telephone replay beginning at 1:00 p.m. Eastern today until 11:30 p.m. Eastern on March 1, 2012. It will also be available as an audio webcast on PSEG's corporate website at www.pseg.com.
I would now like to turn the conference over to Kathleen Lally, please go ahead, ma'am.
Kathleen A. Lally
Thank you, Brent, and good morning, everyone. Thanks for participating this morning in our earnings call. As you are aware, we released our fourth quarter and full year 2011 earnings statements earlier this morning. The release and attachments are posted on our website, which is www.pseg.com, under the Investor section. We also posted a series of slides that detail the operating results by company for the quarter. Our 10-K for the period ended December 31, 2011 is expected to be filed shortly. I will go through the full disclaimer statement or the comments we have on the difference between operating earnings and GAAP results, but I do ask that you read all those comments contained in our slides and on our website.