This presentation also includes non-GAAP measures. A reconciliation of each of these measures to the most directly comparable GAAP measure is included in the appendix and posted in the Investor section of our website.
CMS Energy provides financial results on both a recorded GAAP and adjusted non-GAAP basis. Management views adjusted earnings as a key measure of the company's present operating financial performance unaffected by discontinued operations, asset sales, impairments, regulatory items from prior years, or other items. Certain of these items have a potential to impact favorably or unfavorably the company's reported earnings in 2012.
The company is not able to estimate the impact of these matters and is not provided reported earnings guidance.
Now, I’ll turn the call over to John.John Russell Thanks, Laura. And good morning, everyone. Thanks for joining us today on our first quarter earnings call. I'd like to being by first congratulating Laura Mountcastle on her upcoming retirement, which was announced yesterday. Laura will be leaving us effective July 1, having served as a key financial officer of our company for 18 years. Laura has held the role most familiar to those of you on the phone as Vice President of Investor Relations and Treasurer since 1999. I know you will join me in wishing Laura the best and Laura, I'll tell you, I've always enjoyed working with you and I want to publically thank you for your great years of service to the company and on behalf of everyone of the company, we'll miss you. Laura Mountcastle Thank you, John. John Russell Good luck. Let me begin the presentation today with a few brief comments about the quarter before I turn the call over to Tom to discuss the financial results and outlook for the remainder of the year. Then we'll close with Q&A.
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