Wyndham Worldwide (WYN) Q2 2012 Earnings Call July 25, 2012 8:30 am ET Executives Margo C. Happer - Senior Vice President of Investor Relations Stephen P. Holmes - Chairman, Chief Executive Officer and Chairman of Executive Committee Thomas G. Conforti - Chief Financial Officer and Executive Vice President Analysts Joseph Greff - JP Morgan Chase & Co, Research Division Steven E. Kent - Goldman Sachs Group Inc., Research Division Carlo Santarelli - Deutsche Bank AG, Research Division Charles Patrick Scholes - SunTrust Robinson Humphrey, Inc., Research Division Christopher Agnew - MKM Partners LLC, Research Division Nikhil Bhalla - FBR Capital Markets & Co., Research Division Harry C. Curtis - Nomura Securities Co. Ltd., Research Division PresentationOperator
Welcome to the Wyndham Worldwide Second Quarter Earnings Conference Call. [Operator Instructions] Today's conference is being recorded. If you have any objections, you may disconnect at this time. I would now turn the call over to Margo Happer, Senior Vice President of Investor Relations. You may begin. Margo C. Happer Thank you. Good morning. Thank you for joining us. With me today are Steve Holmes, our CEO; and Tom Conforti, our CFO. Before we get started, I want to remind you that our remarks today contain forward-looking information. This information is subject to a number of risk factors that may cause our actual results to differ materially from those expressed or implied. These risk factors are discussed in detail in our form 10-Q filed April 25, 2012 with the SEC. We will also be referring to a number of non-GAAP measures. A reconciliation of these measures to GAAP is provided in the tables to the press release. It is also available on the Investor Relations section of our website at wyndhamworldwide.com. Steve?