HGI’s Fiscal 2012 results include an income tax benefit of $85 million, reflecting the net release of $198 million of valuation allowance by FGL, which is based on FGL’s assessment of the amount of FGL’s deferred tax assets that are more-likely-than-not realizable, and a $41 million gain resulting from a reduction in the contingent purchase price of FGL. These favorable items were partially offset by the $157 million increase in the fair market value of the equity conversion feature of HGI’s preferred stock which results in a charge to earnings.HGI continued to have a strong financial position to support its business strategy. At September 30, 2012, HGI had corporate cash and short-term investments of approximately $433 million. The non-cash accretion rate on HGI’s preferred stock is determined based on the value of HGI’s net assets (the “Preferred Stock NAV”) as calculated in accordance with the terms of the Certificates of Designation of HGI’s preferred stock. The non-cash accretion rate on HGI’s preferred stock reduced from 2% for the third and fourth fiscal quarters to 0% commencing in the first fiscal quarter of 2013 due to an increase in Preferred Stock NAV. The accretion rate is calculated as of September 30 and March 31 of each year, and is set for six months after the date of calculation. The Preferred Stock NAV as of September 30, 2012, calculated in accordance with the Certificates of Designation, was approximately $1.46 billion. This calculation will result in a quarterly non-cash accretion at an annualized rate of 0% for the first two quarters of Fiscal 2013, although it could increase to 2% or 4% in subsequent periods based upon changes in the Preferred Stock NAV. Consumer Products: Consumer Products operating income increased to $302 million in Fiscal 2012 from $228 million in Fiscal 2011, representing an increase of 32% driven primarily by higher sales and efficiency gains. Consumer Products delivered record Adjusted EBITDA of $485 million, up 6% year-on-year (or 10% excluding the negative impact of foreign exchange). Adjusted EBITDA is a non-U.S. GAAP measure that excludes interest, income tax expense, restructuring and related charges, acquisition and integration related charges, intangible asset impairment and depreciation and amortization expenses - see “Non-U.S. GAAP Measures” and Table 3 for a reconciliation of Adjusted EBITDA to the Consumer Product segment’s operating income.