Thank you very much, Ms. Calhoun. You actually have 30 seconds left, so there you go. Everyone has been really great in terms of their timing.
Now we will begin our seven-minute question round. I'd like to explain this a little bit. Those seven minutes are for questions and answers. If you want to get a lot of questions in and a lot of response and interactivity, I think we would like to make sure that everybody gets to be as succinct as they can.
I will begin this round with Michelle Simson, for seven minutes.