Textainer’s adjusted net income benefited from an increase in the size of the owned container fleet in the second quarter of 2012, compared to the year ago quarter, partially offset by an increase in interest expense due to an increase in debt required to fund the expansion of our owned fleet.During the quarter, one of Textainer’s subsidiaries issued $400 million of container-backed notes (the "Notes"). The Notes are fully amortizing notes payable on a straight-line basis over a scheduled payment term of ten years, with a maximum payment term of fifteen years. The Notes have a fixed interest rate, payable monthly, of 4.21% per annum. The Company also restructured its securitization facility, increasing the size from $850 million to $1.2 billion and adding four new participant banks. The interest rate on the new facility is 2.625% over one-month LIBOR during the initial two-year revolving period. Textainer ended the quarter with a debt-to-equity ratio of 2.3:1. The additional liquidity created by the recent financings puts the Company in a strong position to continue purchasing both new and used containers to meet the needs of shipping lines and their increased preference to lease containers. In the second quarter of last year, net income included a gain on sale of containers to NCI of $14.8 million net of the related impact on NCI as a result of restructuring Textainer’s primary asset-owning subsidiary, Textainer Marine Containers Limited ("TMCL") and eliminating a minority partner. As a result of the restructuring, the Company’s wholly-owned subsidiary, Textainer Limited, now owns 100% of TMCL. The non-cash gain was the result of recognizing the fair value of containers and direct financing and sales-type leases in excess of their book value exchanged for TMCL's common shares at the time of the transaction and is excluded from the adjusted net income and adjusted EBITDA amounts.