Time Warner (TWX) Q1 2012 Earnings Call May 02, 2012 10:30 am ET Executives Douglas Shapiro - Head of Investor Relations Jeffrey L. Bewkes - Chairman and Chief Executive Officer John K. Martin - Chief Financial Officer and Chief Administrative Officer Analysts Spencer Wang - Crédit Suisse AG, Research Division Michael Nathanson - Nomura Securities Co. Ltd., Research Division Benjamin Swinburne - Morgan Stanley, Research Division Anthony J. DiClemente - Barclays Capital, Research Division Richard Greenfield - BTIG, LLC, Research Division Vasily Karasyov - Susquehanna Financial Group, LLLP, Research Division Douglas D. Mitchelson - Deutsche Bank AG, Research Division Barton E. Crockett - Lazard Capital Markets LLC, Research Division David W. Miller - Caris & Company, Inc., Research Division PresentationOperator
Welcome to the Time Warner First Quarter 2012 Earnings Conference Call. My name is Hilda, and I will be your operator for today's call. [Operator Instructions] Please note that this conference is being recorded. I will now turn the call over to Mr. Doug Shapiro, Senior Vice President of Investor Relations. Mr. Shapiro, you may begin. [Technical Difficulty] Douglas Shapiro Our 2012 business outlook. Before we begin, there are 2 items I need to cover. First, we refer to certain non-GAAP financial measures. Schedules setting out reconciliations of these non-GAAP measures to the most directly comparable GAAP financial measures are included in our earnings release and trending schedules. These reconciliations are available on our website at timewarner.com/investors. Reconciliations of our expected future financial performance are also included in the business outlook release that's available on our site.