Thank you, Mr. Reeder.
Mr. Marder, do you have a separate presentation? You do not. All right, then we'll go now to questions.
I have learned, based on bitter experience, not to rely on the clocks in the room. My watch, however, has a fully recharged battery, as you'll be pleased to hear. The amount of time I give to you is based on whether people are willing to go a few minutes over our formal time, say to about seven minutes past. So is that okay? Okay, good. In that case, we have enough time for six-minute questions.
We'll begin with Mr. Sweet.