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April 24, 2012 09:00 AM ET
Molly Salky - VP, IR
Jim Gooch - President and CEO
Dorvin Lively - EVP, CFO, CAO
David Schick - Stifel Nicolaus
Michael Lasser - UBS
Matt Fassler - Goldman Sachs
Vincent Sinisi - Bank of America
David Gober - Morgan Stanley
Mike Baker - Deutsche Bank
Dan Wewer - Raymond James
Gregory Melich - ISI
Carla Casella - JPMorgan
Expectations and are subject to certain risks and uncertainties that may cause actual results to differ materially from our forward-looking statements about those results. These risks are detailed in our various filings with the SEC, such as our most recent Form 10-K, as well as our news releases and other communications. The company does not undertake to update or revise any forward-looking statements, which speak only as of the time they are made.
We may also refer to free cash flow in our discussions today. Our definition of free cash flow is operating cash flow minus capital expenditures and dividends. Read page 21 of our Form 10-Q for a full description and reconciliation of free cash flow.
Finally, following our prepared remarks today, we have allowed ample time to address any questions that you may have. Please limit yourself to one question and one follow-up so that we can get to everyone's question during the call. Feel free to re-queue if you have additional questions.
Members of the media are participating in this call on a listen-only basis and should contact us after the call with their questions.