To achieve our business objectives and generate value for our stakeholders, we must effectively manage risks. To facilitate this, BD instituted an Enterprise Risk Management (ERM) program in early 2006. ERM provides the Company with a framework to identify, assess, respond to and monitor risks. We have since evaluated over 300 individual risk items to determine which need further management. These risks fall into 15 categories, with executive-level ownership assigned to each category. Progress in managing these risks is reported to the Board. Given the dynamic nature of the business climate, we continue to review the ERM process, which allows us to identify new and emerging risks and monitor the status of those risks previously identified.