Good morning. And welcome to the Iron Mountain Q3 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. I will now turn the conference over to Faten Freiha, Director of Investor Relations.

Thank you, Hula, and welcome, everyone, to our third quarter 2015 earnings conference call. This morning, I'll be filling in for Melissa Marsden, who couldn't be here with us today, due to a family matter. We'll begin the call with Bill Meaney, our CEO, who'll discuss highlights for the quarter and progress toward our strategic initiatives, followed by Rod Day, CFO, who will cover financial results. After our prepared remarks, we'll open up the phones for Q&A. As we've done for the last few quarters, we've posted our earnings commentary and supplemental disclosure package on the Investor Relations page of our website at www.ironmountain.com under Investor Relations/Financial Information. Referring now to page two of the supplemental, today's earnings call and slide presentation will contain a number of forward-looking statements, most notably, our outlook for 2015 and 2016 financial performance. All forward-looking statements are subject to risks and uncertainties. Please refer to today's press release, earnings commentary, the Safe Harbor language on this slide and our most recently filed Annual Report on Form 10-K for a discussion of the major risk factors that could cause our actual results to differ from those in our forward-looking statements. In addition, we use several non-GAAP measures when presenting our financial results. The reconciliations to these measures, as required by Reg G, are included in the supplemental reporting package. With that, Bill, would you please begin? William Leo Meaney - President, Chief Executive Officer & Director: Thank you, Faten, and good morning, everyone. We're pleased to be report a solid third quarter results that were at the upper end of our profit expectations and underscore the durability of our core business. It's based upon this continued demonstration of the growth and durability of our business that our Board of Directors has resumed our growth in…

The first question comes from Andy Wittmann of Robert W. Baird. Andrew John Wittmann - Robert W. Baird & Co., Inc. (Broker): Great. Good morning. William Leo Meaney - President, Chief Executive Officer & Director: Good morning, Andy. Andrew John Wittmann - Robert W. Baird & Co., Inc. (Broker): Thank you for the details. I wanted to ask about the relationship between some of the organic volumes and the organic revenue growth rates in your two mature markets. It looks like in North American RIM organic revenue was minus 1.2%. The volumes were about flat; kind of a similar relationship in Western Europe where revenue was down 3.3%, but – I'm sorry, organic volumes were up over 3%, but total revenue was just on the positive side of flat. So, is there a pricing dynamic that's in there or is there something else going on? If you can give us some color around that relationship it would be helpful. William Leo Meaney - President, Chief Executive Officer & Director: I think the – Andy, I think there's two aspects. One is the – one set of data, if we look at the price changes measured in revenue in terms of constant dollar storage, it's quarter-on-quarter. And when we look at volume, it's trailing 12 months. So, you can't quite put the two of them together. But if you kind of look at North America, North America is achieving similar types net volume growth organically, or before acquisitions, as we were last year. So, it's actually up in terms of volume. We've had some pricing adjustments this quarter due to some renewals, which I think we talked about a little bit on Investor Day. It's not unusual during certain times of the year. And if you go back over, say, the…

The next question comes from Kevin McVeigh of Macquarie. Kevin McVeigh - Macquarie Capital (USA), Inc.: Great. Thanks. Hey, nice job. Asking about Recall, but just one more time, because it'd probably be the last time before it closes. Bill, I know you're working through the regulatory, is it – are there any kind of goal post or anything that we should look out or is it just something you'll update once you're through the regulatory process? Because obviously something came out of the UK last week from the authorities, it looks like relatively benign. But is there any kind of disclosures you just think we should focus on as we get closer to the close process? William Leo Meaney - President, Chief Executive Officer & Director: Hi, Kevin. I appreciate the question. I think if you can imagine that the regulators like these discussions to be kept confidential as we go through them. I think the – but I mean just to give you guidance, I think it's pretty much what we said at Investor Day is, we're engaged with the four regulatory authorities that have shown interest in the transaction, which is the U.S., Canada, the UK, as you mentioned, and Australia. We feel that we're well engaged with those authorities, so on track for a Q1 close and the discussions are ongoing. But where we sit today, we feel good that it's in line with our expectations when we set out on the course. So, nothing has changed. I mean, generally, these things take six months to 12 months, when you go through a regulatory process in the United States, for instance, but we continue to guide at the lower end of that range because we feel good where we stand. Kevin McVeigh - Macquarie Capital (USA),…

The next question is from George Tong of Piper Jaffray. Adrian S. Paz - Piper Jaffray & Co (Broker): Hi. This is Adrian Paz on for George Tong. Just looking at your updated guidance, it seems like there's a slightly better OIBDA margins at the midpoint versus last quarter. Can you discuss what is making you incrementally more positive on margins? William Leo Meaney - President, Chief Executive Officer & Director: Okay. I'll let Rod answer that. I think just on a high level, there's a couple things. I think one is if you even look over time, we're pretty good at driving productivity out of the business. Because when you start off, what I was saying earlier is that, we get – currently, in this low inflation environment, we get somewhere between 0.5% to 1% increase in price. Obviously, our labor cost in certain markets goes up faster than that. So, we continually drive productivity through the business. And that's what really drives our OIBDA growth. And then, I think you can expect also when some of the transformation gets fully realized, now that we're through most of the restructuring cost in this quarter, you could expect that that will even pick up a little bit more. But, Rod, you may want to comment further. Roderick Day - Chief Financial Officer & Executive Vice President: Yeah, maybe just to build on what you're saying, you're absolutely right in terms of the point that was made. If you look at our guidance – take the C$ guidance that we updated at Investor Day, in effect what we're saying is that from a revenue point of view, we see ourselves at the middle of the range, and contribution, we see ourselves more towards the higher point of the range. And obviously,…

Our next question is from Andrew Steinerman of JPMorgan.

Hi, there. I know there's a couple of questions already on FX, but if it's possible, Rod, could you just give us the mix of currencies, so we could those calculations ourselves, the mix of currencies? Roderick Day - Chief Financial Officer & Executive Vice President: Well, really, obviously, we deal in quite a number of currencies in terms of what's impacting our numbers. And I think in terms of the short-term impact, the – where we've seen the hit is being Canadian dollar, Russian ruble, Aussie dollar, the Brazilian real and Colombian peso. So they've been hitting us during Q3. If you were to take a longer term view, so more looking year-on-year, there sort of wider effects coming in from sterling in particular, where obviously also we have quite a significant business.

Okay. William Leo Meaney - President, Chief Executive Officer & Director: The only thing I'd like to add to that, Andrew, is that, whilst you've seen the FX headwinds in revenue, you'll note that it gets muted pretty quickly as we start going through the OIBDA and the EPS line. And the – where we are at a stage is, in some sense the timing is not bad for us because we are using strong U.S. dollars to invest and build out this portfolio, which is still a relatively small portion in terms of the countries where the currency is mostly impacted, which is in the emerging markets. I'm not saying that the other markets aren't a factor. So, if you say 40% of our sales are in foreign currency, but the currencies that are impacted typically are in that, a little less than 15% emerging market area. And those are areas where our OIBDA margins at this point are lower because we're building scale in those markets. So we're taking strong U.S. dollars to build out these markets right now. And their impact – even with the negative FX impact, the impact on OIBDA in earnings is muted. It's obviously fully affected at the revenue line, but when you see what happens to earnings, it's muted. So, I agree you need to model it out, but the earnings is not as sensitive as you might think to the FX, whereas you do see the full sensitivity on the revenue line. That's why we feel comfortable about already starting to increase our dividend because we feel that we've got enough momentum in the business that we can continue and start back on our growth trend in terms of dividends.

That sounds natural (36:27). I'm hoping I could ask a second question. Could you, Rod, talk a little bit more about the OIBDA margin of 30.5% in the third quarter? Were there any one-off helps to that margin? And what puts and takes should we keep in mind as we compare the third quarter OIBDA margins to the implied fourth quarter margin in the guide? Roderick Day - Chief Financial Officer & Executive Vice President: No, nothing particularly unusual in Q3. Obviously, other than the fact, we actually booked the $9 million restructuring charge, which actually lowered the margin slightly. I think as we look to Q4, again, sitting here today, I'm not seeing anything particularly unusual that should come through. Obviously, we won't have a repeat of the $9 million charge and there would be some benefit from that actually hitting us in Q4 as a result of the slightly lower cost base. But other than that, I think it's pretty much steady as she goes.

Okay. Thank you so much.

The next question is from Shlomo Rosenbaum of Stifel. Shlomo Rosenbaum - Stifel, Nicolaus & Co., Inc.: Hi. Good morning. Thank you for taking my questions. I'm just trying to compare the storage revenue that was in North American RIM that was slightly negative versus the trends that we're seeing in the charts where you have positive volume growth. And the positive volume growth, if you exclude the acquisitions, has been kind of modestly creeping downwards, but you still got positive growth, but we're seeing kind of negative revenue on an organic basis. Can you kind of just explain that? William Leo Meaney - President, Chief Executive Officer & Director: Sure. Shlomo, let me start off and then Rod can add any color that he thinks that I missed out. So I think, first, let's look at the revenue growth. So if you go back, say, to Q4 2013, right, and you just look at the number of quarters, you'll see that North American storage rental revenue growth has gone negative 0.4%, negative 0.3%, plus 0.3%, plus 0.4%, plus 0.9%, plus 0.5%, and then in the last two quarters a negative 0.1% and negative 0.3%. So you'll see, first of all, which I was referring to earlier, you'll see that moving around and you can kind of get that – you can back into that through the supplemental. And so, on the revenue side, because as you can appreciate when we renegotiate large enterprise deals that you do get – in any given quarter, you can get a significant impact in terms of the revenue associated per cube. So there's a disconnect between that volume growth. Over a long period of time, though – if you look at the trend over a long period of time, we still see, if…

There are no questions in queue. William Leo Meaney - President, Chief Executive Officer & Director: Okay. Thank you, operator. Well, thank you, everyone, for joining us. I know it's a busy time for everyone, but just to sum up. We're very pleased the way the quarter came out. It was a very good quarter driven by the strong – or continued strong operating performance I should say and has delivered profit that set the upper end of our expectations. So we feel really good about the quarter and hence the recommencing of our dividend increases that we declared this morning. So, thank you, everyone, and have a good day.

Thank you. This concludes call. You may now disconnect.