Before we begin the prepared remarks, I'd like to quickly state that this conference call will contain forward-looking statements under Federal Securities laws. These statements are based on current expectations, estimates and projections about the market and the industry in which Prologis operates, as well as management's beliefs and assumptions. Forward-looking statements are not guarantees of performance, and actual operating results may be affected by a variety of factors. For a list of those factors, please refer to forward-looking statement notice in our 10-K or on SEC filings. I'd also like to state that the first quarter results press release and our supplemental do contain financial measures, such as FFO and EBITDA that are non-GAAP measures. And in accordance with Reg G, we've provided a reconciliation to those measures. [Operator Instructions] Hamid, will you please begin? Hamid R. Moghadam Thanks, Tracy, and good morning, everyone. Welcome to our first quarter 2012 earnings call.