Patrick Grismer – CFO David Novak – Chairman and CEO Richard Carucci – President Timothy Jerzyk – SVP, Investor Relations

Jeff Omohundro - Davenport and Company John Glass - Morgan Stanley Andy Barish - Jefferies Diane Geissler - CLSA Jason West - Deutsche Bank John Ivankoe – JPMorgan David Tarantino – Robert W. Baird Keith Siegner - Credit Suisse Joseph Buckley - Bank of America Merrill Lynch Howard Penney - Hedgeye Risk Management Brian Bittner – Oppenheimer Larry Miller – RBC Jeffrey Bernstein – Barclays Eric Gonzalez – UBS Michael Kelter - Goldman Sachs Mitch Speiser – Buckingham Research

John Ivankoe – JPMorgan:

John Ivankoe – JPMorgan:

John Ivankoe – JPMorgan:

Jeff Omohundro - Davenport and Company:

David Tarantino – Robert W. Baird:

David Tarantino – Robert W. Baird:

Keith Siegner - Credit Suisse:

John Glass - Morgan Stanley:

John Glass - Morgan Stanley:

Andy Barish - Jefferies:

Joseph Buckley - Bank of America Merrill Lynch:

Joseph Buckley - Bank of America Merrill Lynch:

Joseph Buckley - Bank of America Merrill Lynch:

Howard Penney - Hedgeye Risk Management:

Howard Penney - Hedgeye Risk Management:

Brian Bittner – Oppenheimer:

Diane Geissler - CLSA:

Jason West - Deutsche Bank:

Larry Miller – RBC:

Jeffrey Bernstein – Barclays:

Eric Gonzalez – UBS:

Eric Gonzalez – UBS:

Michael Kelter - Goldman Sachs:

Michael Kelter - Goldman Sachs:

Mitch Speiser – Buckingham Research:

Mitch Speiser – Buckingham Research: