Let me provide additional color on our financial performance. In the upper left quadrant, we summarized our capital expenditures for the second quarter of 2012 and our guidance for the full-year 2012, which includes $25 million for the relocation of three of our factories in China. Jon will comment on these projects later.
In the upper right quadrant, we summarized our effective income tax rate in the second quarter of 2012. We expect the ETR to be approximately 30% for the second half of 2012 driven by the estimated distribution of our global earnings.
In the lower left quadrant, we highlight our strong free cash flow results in the second quarter of $111 million, equal to 177% of net income for the quarter. This is the 5th consecutive quarter that we generated free cash flow equal to or greater than net income. We are focused on generating free cash flow for debt reduction to improve shareholder value, pay dividends and fund our future growth.