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During this call, we may make certain statements related to our business that are forward-looking statements under federal securities laws. That said, the pipeline rate remains robust, and the demand for our core policy, regulatory, geopolitical, macroeconomic, security, and operational risk products continues to be strong.
Actual results may differ materially from those in forward-looking statements as a result of a number of factors, including those described from time to time in Blue Owl Capital's filings with the Securities and ExchangeCommission. The company assumes no obligation to update any forward-looking statements.
Further information on these and other factors that could affect our business performance in the financial results is included in filings we make with the Securities and ExchangeCommission from time to time, including the section titled Risk Factors in our most recently filed annual report and quarterly reports.
During this call, we may make statements related to our business that would be considered forward-looking statements under federal securities laws, including projections of future operating results for our first quarter and full year ending December 31st, 2024. After preliminary remarks, we will open the call to a question-and-answer session.
During this call, we anticipate making projections and forward-looking statements based on our current expectations and pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Of note, cash flow excluding the purchase of marketable securities used approximately $130 million for all of 2023.
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