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From a liquidity perspective, as I indicated above, during the quarter, we spent $13 million acquiring our shares pursuant to our share repurchase agreement -- program, of which we spent approximately -- pardon me, of which approximately $9.8 million remains available as of June 30, 2015.

We certainly believe that the changes in regulatory direction and some of the pressures on fees are having an effect on our business.

We expect EBIT in fiscal year '14 to be positive based on the initiatives announced today and other plans to follow.

And that's really, I would say, the biggest driver to expanding and renewing projects.

But certainly on a cost of services side of the ledger, we think there's opportunities and, we've already seen the benefits of the captives vehicle and it's hard to say, as we sit here now that it's sort of business as usual with the captive, having seen the benefits comes through in the fourth quarter and now just as expected, here in the first quarter as well to the June about $1.5 million benefit in cost of services line.

We expect our tax rate to be 36.5% to 37% on an ongoing basis.

So we're seeing some good things, and the number of companies that we'd cross-sell to is picking, pretty optimistic about the second half as we really get the products integrated, the service plays integrated, but still early day.

And how does it work, again, because, I guess, if the profitability in 2017 is going to -- the taxes isn't going to come due until 2018, I believe, because there is a 1-year lag.

Steve will address the bond buyback piece, but I'll tell you, just to reiterate, we're committed to allocating the dividend to leverage reduction, and as Steve mentioned, we expect to continue to do that.

So Victor, the net effect of the incorporation of GOL Smiles is that we created a goodwill and we also created this the goodwill is going to be amortized over a 5-year period and that is going to generate over this period around BRL 72 million of tax shields and tax credits over this period, so that's what you can expect.

As discussed on our last earnings call in November, this negatively impacted volumes the last couple of quarters due to the inefficiency we created, along with some destocking we believe that occurred in the supply chain in the December quarter in anticipation of lower resin pricing.

I mean you expect an acceleration of constant currency growth for recurring revenue, despite, I think, tougher comps.

Investments into the new OLED flat-panel display technology might peak this year since the installed capacity will soon be able to cover the current needs for new displays.

But as I indicated, capacity enterprise was a bit stronger than we expected which we're very pleased to see that.

And in one quarter, we have such a project.

I mean, at least what I've seen so far of the 70 projects, and I think I alluded to, we only need a handful in each segment, blue hydrogen, sustainable aviation fuel, low-carbon solutions to meet that target.

The business as both new contracts worth EUR 1.5 billion, reaching a total amount of project spending execution of EUR 7,244 million, representing an increase of 7% and 16% versus the last and first quarters of 2013, respectively.

Especially remarkable is that we are -- could increase our Phase III, where we have our projects in the permitting process from -- to a level of 1.1 gigawatt roundabout, which is an increase of [ 12 38 ] megawatts.

As we move forward through the end of this year into next year, what milestones do we be watching for, I guess specifically what I am thinking about is what events or what numbers or performance levels should we expect the company to achieve that, if they don’t achieve it by “x” date there is reasons to be concerned that the game plan isn’t being executed well or that those if these doesn’t unfolding as planned.

Capital expenditures for the first 9 months of 2013 were $12.4 million compared to $35.3 million for the same period in 2012, and our capital spending is currently on plan with our 2013 CapEx budget, and we will finish substantially lower than 2012.

Cash declined $56 million during the quarter, primarily due to capital spending activity associated with the completion of the Norfolk, Virginia plant and the final stages of spending on the Washingtonville and Otsego facilities.

During the next 12 to 18 months, we expect to reduce merchandise inventories by approximately $10 million, from which we may continue to see a negative effect on GAAP sales that isn't indicative of customer demand or product shipments.

Nevertheless, many uncertainties remain, for which reason we have not amended any of our full year guidance regarding sales or earnings.

So tomorrow, the whole hope and expectation is that the content creation, which will drive larger value will enrich both the content creation company as well as the company, which is using the content to monetize in the marketplace.

But like the Amarillo Rattler acquisition, those investments will have to clear high bar with respect to returns and not imped our deleveraging objective.We did not repurchase any of our equity or debt securities in the first quarter, but continue to have that flexibility as we generate cash and balance our capital allocation objectives.With that, I'll turn it back to Barry.

Early production results are meeting our expectations, with per-well rates as high as 20 million cubic feet equivalent per day.

We're confident that we will maintain this growth blistering momentum throughout the course of this year.

That said, we do not change in our outlook for growth in Title & Closing as we will be rationalizing other Title & Closing products into this growth.

Finally, the Board expects to deliver a resilient performance in 2020 and remains confident in the medium and long-term prospects for the group.

We expect to use the funds as long-term debt financing for the Cloverleaf and Lanier acquisition.

In addition to meaningful sales and adjusted earnings per share growth, we profitably grew our market share, exceeding the industry benchmark for same-restaurant sales by over 400 basis points, increased adjusted operating margins by over 200 basis points, leverage our scale, further optimizing our supply chain and managing costs, resulting in $95 million in annual cost-savings, which exceeded our initial targets and returned more than $450 million to shareholders through dividends and share repurchases.

Other income declined due to lower interest income related to our short-term investments as we used a portion of this for the Oehlbach acquisition and financed additional AR inventory for increased sales of accessory and electronic products in the coming quarters.

And we have generated the next wave of novel candidates that will drive a new phase of partnerships and progression of selective in-house programs.

On the dividends, what determines the range or where we end up in the range, depends on quite a few things like the financial strength of the company at that point, our views on our ability to be able to fund the investment program going forward, the macro conditions, the price outlooks, all of these things.

And that is something that we would like to continue in the future in terms of the expenditure on marketing.

As mentioned earlier, one of the very valuable IPs owned by Empire is its patented Flying Theater and the group's 74% owned subsidiary Dynamic Entertainment Group is leveraging the use of this Flying Theater IP on several prospects in this pipeline of opportunities.

And then there's a raft of games that talks about the R&D work that's going on, a raft of games that will come in the future for years '22, '23 and '24.

Next is the business outlook in Q1.

We believe our ability to automate and provide a seamless experience for our customers to move through this discovery, evaluation, and design process.

So, in terms of turnkey, and as you know it's bit of a lumpy business and we fully expect third quarter -- our fourth quarter and first quarter of next year that will be kind of back to normal run rates in turnkey revenue.

I think we'd say that the business will remain strong, but against the comps, you'll see a kind of decelerating growth.

We were expecting some dividends this quarter as well.

Now when it comes to the segments, good demand pretty much across all segments with, of course, a continued strong demand on plant-based alternatives, plant-based proteins and on pet food, while we've seen so far limited down-trading on packaged foods.

During the remainder of the first quarter, approximately 10% of the global fleet, which was primarily our Australian business unit, remained fully open and accessible to customers.

And then on the 2 Colombian rig that are down, do you have contracts in place for those to go back to work in Q3 and what are your expectations for start date and the terms on those contracts, are we looking at 18 months, 2 years, or a 1-year deal?

So jumping straight in, first and foremost, we delivered the financial commitments required to play our part in the the top end of expectations.

Please bear in mind that those expectations involve risks and uncertainties, and that we cannot guarantee the accuracy of any forecast or estimate.

As John mentioned, we look forward to the addition of 250 Kowa sales representatives promoting Vascepa.

We estimate that Afghanistan and North America events contributed $8.7 million more to revenue in the second quarter last year then this year.

Nonregulated activities will generate a cumulated EBITDA of EUR 350 million in 5 years, which means a EUR 50 million up versus the previous plan restated.

Access to targeted contracting opportunities, such as bids and RFPs, will always be a fundamental need of government contractors.

When adding the $44 million of remaining mark against the acquired loan portfolio, the adjusted allowance increases to 4.22% of total loans, which is down from 4.5% last quarter but at a very comfortable level, given our remaining acquired balances and our experience with the portfolio thus far.

We expected the domestics business to grow less than 1% in Q2 as we increased our trade and promotional spend.

[Foreign Language] The aim is to establish an oil and gas market system where it's multiplayer, multichannel supply of optimal resources, [ restrictions ] and concentrated transmission, pipeline transmission in the midstream and full competition in the downstream market.

It can do exactly what it could have done otherwise, but if you come up with models that have better performance that we anticipated and you have video codecs better performance then originally anticipated, we've could still achieve your targeted performance even though the satellite itself it somewhat impaired.

So my questions are, do you believe that the demand environment is strong enough to absorb these near-term restarts?

We do expect increased volatility in our allowance estimates and our provisioning after implementation.

The fundamentals of the Oxbryta launch remained strong.

Year-on-year, the comparison is harder because some of the initiatives that we are starting to put in place 3 years ago, like the voluntary employee retirement plan and the handset subsidy reduction, and I know there's -- the year-on-year comparison start to fade away, and therefore, it basically -- those are there to stay.

I would like to take this opportunity to thank our employees for their tireless work and commitment to our important mission as America's socially responsible bank.

The number of products in general, we remain a curated place for Home & Living.

First, we delivered a strong first quarter with top and bottom line performance better than our expectations.

And our backlog remains high at 7,584 aircraft.

Total shipment volume is projected to decline by 1.0% compared with the prior year with the growth of GFBs and the effect of the Gryson acquisition.

Our forecast reflects growth in the Americas, driven by power distribution assemblies, Harsh and Hazardous systems and moderate growth in the rest of the world.

Finally, we've updated our long-term financing plans over the next 3 years that includes a steady level of equity paired with operating company long-term debt in 2021 tied to our capital investments.

We showcased how cognitive computing provides richer personalization for B2B buyers and stronger demand forecasting for airlines using real-time data.

These funds did not include our traditional growth engines, global al and equity dividend, which I believe showcases BlackRock's highly scalable product breadth, which -- with representation across all major classes, client segment and importantly, geographies.

This is a decentralized company in which we've put a lot of faith in the skills and talents and experience of our field personnel to correctly estimate and bid projects at acceptable bid margins.

However, in line with total year projections and positioned for a more profitable business with our second Mexico facility coming online in late 2015.

And we'll close the call with a presentation of our outlook for the financial year 2021 before we turn it back over to you for the Q&A.

That is right or do you expect it unlikely to have any material impact on margin?

RumbleOn will finance the cash consideration through a combination of up to $280 million of debt and the remainder through the issuance of new equity.

Or if we see some normalization of supply chain and inflation, according to your accounting methodology, can we see margins recovering again to, I don't know, 12%, 13%, 14% the initial targets before all this inflation turmoil?

Unfortunately, this hedging action seems to come into the category of "no good deed goes unpunished," as we got little credit for the hedge and the treasury shares are included in the diluted earnings calculation, despite our intention to keep around 2 million shares available to facilitate the hedge.

It's fully dependent on the tenant's credit quality, your financial wherewithal, what kind of lease restructure, what level of rent relative to past and potential, current and future performance.

There were 2.2 million new housing starts at the time, but today, we have a much more balanced business, and we compete in a number of areas in addition to new residential construction, including commercial, public works, municipal water and wastewater treatment plant construction, meters and metering technology and soil stabilization.

But how those -- what the timeframe will be for a conclusion, and I don't expect that we'd have any meaningful -- if there was investments to be made, I think it would be beyond 2020.

Or maybe looking at M&A with higher flexibility in terms of the deal, so you're projecting, about the cash, plus [ beta ] with better value creation for shareholders?

As noted on S-15 of our supplemental and consistent with our expectations, our new lease rates, excluding leasing incentives, were down 5.8% in July compared to the prior year's period.

Subsequent to quarter end, we held successful initial closes for inaugural global transition fund and our fourth flagship real estate fund for a total of $16 billion and expect them to grow significantly with further closes over the next 12 months.

We are encouraged by some early signs of improved performance, but we recognize that our transformation will take time, and we continue to believe that fiscal 2019 is a transition year for our business.

While we cannot precisely calculate the effect of last year's extra week across each of our businesses, we believe that adjusting this quarter's revenue growth rates by reducing last year's revenue by approximately $200 million better reflects the adjusted operational growth.

On this base total revenue for the second quarter is expected to range between 400 and $420 million , which is driven by job mix including self sourcing of sand rather than activity, which we expect to increase.On our last earnings call, we shared our expectation for approximately $20 million of EBITDA tailwind exiting the first quarter including $10 million related to strategic investments in market-ready and staff capacity and $10 million from an abatement of activity disruption.

The majority of activity growth is still coming out of the Permian, but both the Northeast and Haynesville are steady from an activity perspective, and remain critical pieces of Nine's earnings.

Note that we're still awaiting approval of the European Commission competition authority to complete this transaction.

And of course, I mean, I hear what you're saying about a little bit of a delay in some Ontario projects.

We have multiple levers we use whether it's producing product, blending more as we look to manage that overall value and commit for PSX.

What -- I don't know if you can comment on ad spend, but how do you benchmark yourself when you're talking to growing your target, are you spending as much as Purina, just give us a sense of that.

General and administrative expenses for the full 2021 year totaled $21.7 million and the increase compared to last year is due to the ramp-up of activities and workforce at all the projects and the head office.

Committed to the feedstock side of the renewable business.

Now, we've said over time we'll increase the dividend when we believe it can be done on a sustainable basis, and we really look for improvement in our Southern log markets to help with that decision.

Q2 GAAP operating cost included $41.7 million relating to the amortization of intangibles, $11.7 million relating to stock-based compensation and $14.5 million of cost related to the TiVo integration and restructuring plan, and our ongoing transition and integration efforts.

Will you, at some point, provide with more of a, sort of, a colorful, it's just, call it, quite a regional exploration update as to where all those projects are at and how those things are going?

We believe this approach has been a balanced one, seeking to maintain the right level of resources to be able to deliver market-leading events just as soon as markets reopen.

And in inclosing, I want you to know that we remain confident in the future due to our industry leading value proposition, and our dedicated 41,000 employees.

And soon, we're going to roll this out to other partners other platform, other sellers.

Despite these short-term items, we're executing well and are confident in our business momentum and our ability to deliver on our full year commitments.

We expect Sortify to become a significant part of the group in a financial sense over the next several years.

In addition, there was a noncash adjustment to the carrying value of our contingent consideration payable to Pfizer if we reach a certain cumulative earnings target by the end of 2019.