Hello, this is Laura Brown, Senior Vice President of Communications and Investor Relations. With me is Bill Chapman, Senior Director of Investor Relations. The purpose of this podcast is to provide you with additional information regarding Grainger's first quarter 2013 results. Please also reference our 2013 first quarter earnings release issued today, April 16, in addition to other information available on our Investor Relations website to supplement this podcast. Before we begin, please remember that certain statements and projections of future results made in the press release and in this podcast constitute forward-looking information. These statements are based on current market conditions and competitive and regulatory expectations and involve risk and uncertainty. Please see our Form 10-K for a discussion of factors that relate to forward-looking statements. Today, we reported results for the 2013 first quarter and raised our 2013 sales and earnings guidance. We raised the low end of the guidance ranges to reflect the solid start to the year and account for an increase in growth spending. We now expect sales to grow 5% to 9% and are forecasting EPS of $11.30 to $12 for the full year 2013. At the end of this recording, we'll talk more about our revised guidance and assumptions. Company sales for the quarter increased 4% versus the 2012 first quarter, 6% on a daily basis. We had 63 selling days in the quarter, 1 less than the previous year. Operating earnings and net earnings increased 13%. Earnings per share were $2.94 for the quarter, an increase of 14% versus the 2012 first quarter. Let's now walk down the operating section of the income statement in more detail. Gross profit margins increased 80 basis points to 45.2% versus 44.4% in 2012, primarily driven by the United States segment. Company operating margin increased 120…

Thanks, Laura. Since we've already analyzed company operating performance, let's jump right into performance by reportable segment. Operating earnings in the United States increased 11% versus the 2012 first quarter, while the operating margin increased 110 basis points to 18.7%. This performance was driven by the 4% sales growth, higher gross profit margins and positive operating expense leverage. Gross profit margins for the quarter increased 80 basis points driven by price increases exceeding cost inflation and growth of private label products, partially offset by unfavorable selling mix. Operating expenses grew at a slower rate than sales and included $20 million in incremental growth-related spending on areas such as new sales representatives, eCommerce and advertising. Let's move on to our business in Canada. Operating earnings increased 11% versus the prior year in both U.S. dollars and local currency. The improvement in operating performance was driven by higher sales and positive operating expense leverage, despite an incremental $2 million in growth-related spending. Gross margins in Canada were essentially flat versus the prior year. The 4% growth in sales and lower operating expenses contributed to a 70 basis point increase in the operating margin to 11.6%. The Other Businesses generated $8 million in operating earnings in the 2013 first quarter versus $11 million in the 2012 first quarter. The decline in earnings performance for the quarter versus the prior year was primarily driven by operating losses for the acquired business in Brazil and lower earnings for some of the smaller businesses in Asia and Latin America. The earnings decline was partially offset by strong earnings growth in Japan and operating earnings growth in Europe, related to lower expenses from restructuring actions taken in the 2012 fourth quarter. Below the operating line, interest expense, net of interest income, was $2.3 million in the 2013…