Praxair (PX) Q4 2011 Earnings Call January 25, 2012 11:00 am ET Executives Kelcey E. Hoyt - Director of Investor Relations James S. Sawyer - Chief Financial Officer and Executive Vice President Analysts Robert Walker - Jefferies & Company, Inc., Research Division P.J. Juvekar - Citigroup Inc, Research Division David L. Begleiter - Deutsche Bank AG, Research Division Robert Koort - Goldman Sachs Group Inc., Research Division John E. Roberts - Buckingham Research Group, Inc. Michael J. Sison - KeyBanc Capital Markets Inc., Research Division Donald Carson - Susquehanna Financial Group, LLLP, Research Division Jeffrey J. Zekauskas - JP Morgan Chase & Co, Research Division David J. Manthey - Robert W. Baird & Co. Incorporated, Research Division Edward H. Yang - Oppenheimer & Co. Inc., Research Division Kevin W. McCarthy - BofA Merrill Lynch, Research Division Michael J. Harrison - First Analysis Securities Corporation, Research Division PresentationOperator
Good day, ladies and gentlemen, and welcome to the Fourth Quarter 2011 Praxair Earnings Conference Call. My name is Kathy and I'll be your operator for today's call. [Operator Instructions] As a reminder, this conference is being recorded for replay purposes. I would now like to turn the conference over to your host for today's call, to Ms. Kelcey Hoyt, Director of Investor Relations. Please proceed, ma'am. Kelcey E. Hoyt Thanks, Kathy. Good morning, and thank you for attending our Fourth Quarter Earnings Call and Webcast. I'm joined this morning by Jim Sawyer, Executive Vice President and Chief Financial Officer; and Liz Hirsch, our Vice President and Controller.