TO OUR STOCKHOLDERS 2013 was a year of strong growth and record  profitability for Lennox International. Revenue grew  8 percent to $3.2 billion, and GAAP diluted earnings  per share from continuing operations increased 35  percent to a record $3.55. Total segment profit margin  expanded 180 basis points to a record 9.4 percent for  the year. GLYPH<T_h> e company’s performance in 2013 was led by our  Residential business, which again outpaced the market  on strength in both replacement and new construction  business. Residential profit was up 75 percent on 15  percent revenue growth. Residential margin expanded  390 basis points to 11.4 percent.  Our Commercial business also outpaced the market  in 2013 on growth in national account equipment  and service, as well as from our strategic expansion  in the emergency replacement market. Commercial  profit rose 19 percent on 8 percent revenue growth.  Commercial margin expanded 130 basis points to a  record 14.0 percent. Our Refrigeration business had strong operational  performance despite choppy market conditions globally  in 2013. Refrigeration revenue was down 2 percent, but  profit increased 10 percent as segment margin rose 130  basis points to 11.7 percent. GLYPH<T_h> e company had solid cash generation for the year  with cash from operations of $210 million. With the  company’s strong performance throughout the year  and solid balance sheet, we repurchased $125 million  of stock and raised the dividend 20 percent in 2013.  Capital expenditures were $78 million compared  to $50 million in the prior year as we continued to  make transformational investments in the business.  Focused on our five strategic initiatives, we continued  in 2013 to position the company for further growth  and profitability. GLYPH<T_h> e company continued its consistent increase in  Research and Development investment, an important  factor in maintaining our leadership in energy-e ffi cient  climate control systems across our businesses. With a  stronger consumer environment and housing market  in 2013, we saw a larger percentage of Residential  sales coming from our high-e ffi ciency systems. Sales  of our Ultimate Comfort System ™ , the most advanced  and e ffi cient air conditioning, heating, and air quality  system ever created, exceeded expectations.  GLYPH<T_h> e system  includes our most advanced controls—our iharmony ® zoning system configured with our new icomfort  Wi-Fi ®  to control the entire system by smartphone,  tablet, or computer for the most precise, e ffi cient and  comfortable heating and cooling in the home.  Our Commercial business acquired 18 new national  accounts in 2013 as customers continue to select  Lennox for our leading high-e ffi ciency rooftops,  Energence ®  and Strategos ® , and our advanced Prodigy ® controls. In the emergency replacement market, we  expanded the range of our Raider ®  rooftops up to 12.5  ton units to further capitalize on the opportunities in  that market.  In Refrigeration, we continue to advance our leadership  position with energy-e ffi cient and environmentally  friendly platforms. Our products include innovative  alternative refrigerant systems used globally by food  retailers, and a composite mechanical enclosure that  utilizes recycled materials and is 40 percent lighter.  INNOVATIVE PRODUCT SYSTEMS AND SOLUTIONS 2