It's now my pleasure to turn the call over to Ellen.Ellen Kullman Great. Thank you, Karen, and good morning, everyone. The DuPont delivered a strong finish to a great year. And during the fourth quarter and throughout the year, we've been steadfastly focused on our 2010 directives with disciplined execution across the board. Our consistent focus on market-driven innovation, cost and capital productivity and differential allocation of resources delivered very strong results for the year. And we will look back on 2010 as the year we benefited from recovery, created our own momentum and emerged as a stronger, well-positioned company. We did it by building on the aggressive actions we took in response to the global financial crisis and I'm not just talking about the restructuring and cost-cutting, I'm referring to the thoughtful, strategic choices that we made, specifically to prepare for global economic recovery and truly emerge a more agile and disciplined company. To site up a few examples, we accelerated the implementation of the DuPont production systems at our plant site. We redeployed employees on megaprojects to structurally reduce working capital, and we made tough choices on our underperforming assets and we had afforded not to cut our R&D spend. Our 2010 results are summarized on Slide 2. So with that winded in a way that is consistent with our internal set of directives. We delivered sales growth of 21% with a wide variance by business reflecting how different markets were affected by the global financial crisis and how our business has responded. We delivered strong topline growth in areas that were minimally affected by the global crisis such as production agriculture and photovoltaics. These businesses executed well with new product launches, share gains, improved margins and strong momentum as we head into 2011. We also delivered outstanding growth at certain businesses benefited from early recovery and restocking such as TiO2, electronics, parts of our chemical businesses and polymers. As an example, we were prepared when auto builds recovered more than twice as fast as expected last year.
Certain industrial markets were slower to recover as expected mid-cycle businesses such as Nomex and Kevlar started to rebound midyear. And while their recovery has been a bit more muted, we expect more to come in 2011. In the meantime, we continue to develop new applications for fine denier Kevlar in anticipation of the Cooper River plant startup, which will occur later this year.Finally, construction markets remained weak throughout the year. While total company sales were up 21% for the year, sales in developing markets grew 27%. We delivered exceptionally strong performance in China and India. Sales in greater China, including Taiwan, were over $3.3 billion, increasing more than 50%. All of our segment contributed to this growth with especially strong results in electronics and communications and performance materials. Sales in India were up over 40% to $678 million with the biggest gains coming from our performance chemicals and Ag & Nutrition segments. The backbone of our topline growth this year remains market-driven innovation. Our steadfast investment in R&D-driven recession allowed us to intensify our efforts in new product introductions. So we did it by staying close to our customers, and I mean that literally as well as figuratively. We partnered with customers to run product tests and commercial prove outs in their facilities. New product introductions were up 23% in 2010 on the hills of a 60% increase in 2009. Moving on to cost, we delivered more than $650 million in fixed cost productivity and benefits from restructuring. We exceeded our original goal of $600 million. We're poised to deliver an additional $300 million of fixed cost productivity in 2011. Raw materials were up 6% last year and our price increase more than covered higher cost with an impressive full year spread of $0.44, something we could only deliver because our customers recognize the value and competitive advantage that our products provide. Read the rest of this transcript for free on seekingalpha.com