AerCap reported fourth quarter 2012 net income was $11.2m, compared with $76.4m for the same period in 2011. Fourth quarter 2012 included a $54.6m charge, net of tax, relating to the sale of AerCap’s ALS portfolio which is essentially offset by expected future servicing fees and interest income. Fourth quarter 2012 adjusted net income was $67.5m, compared with $79.8m for the same period in 2011. For the full year 2012 AerCap reported income of $163.7m, compared with $172.2m for full year 2011. Full year 2012 adjusted net income was $258.0m, compared with $303.1m for full year 2011. Net interest margin earned on lease assets, or net spread, was $684.2m for the full year 2012 compared with $718.1m for full year 2011. Net interest margin as a percent to average lease assets was 8.70% for full year 2012 as compared with 9.05% for full year 2011. The decrease is attributable primarily to the sale of the ALS portfolio. Repurchases of 26.5 million shares were completed in 2012 with a total cost of $320m (average price per share of $12.06).