<p>Ben Affleck at the 85th annual&nbsp;Academy&nbsp;Awards</p>

Ben Affleck at the 85th annual Academy Awards

Credit: AP Photo

Ben Affleck's 'Argo' named Best Picture of the year at the 85th annual Academy Awards

Jack Nicholson presents the honor with First Lady Michelle Obama

Crowning off an industry awards running of the table, from the Critics' Choice Movie Awards the night director Ben Affleck was passed over for a Best Director Oscar nomination through a guild circuit that brought high profile recognition from the likes of producers, directors, actors and writers, Warner Bros. Pictures' "Argo" has been named Best Picture of 2012 by the Academy of Motion Picture Arts and Sciences.

"I know what you're thinking. The three sexiest producers alive," said producer Grant Heslov said between co-producers George Clooney and Ben Affleck on the stage of the Dolby Theatre, able to accept a prize as producer despite being left off the directors' line-up. "I want to acknowledge my partner in crime and my great friend George Clooney. Everybody should be so lucky to have a partner as talented, as humorous and with so much integrity. On behalf of George and myself, I want to thank you, Ben. You directed a hell of a film."

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<p>Meryl Streep presents the Best Actor Oscar to&nbsp;&quot;Lincoln&quot;&nbsp;star Daniel&nbsp;Day-Lewis at the 85th annual Academy&nbsp;Awards.</p>

Meryl Streep presents the Best Actor Oscar to "Lincoln" star Daniel Day-Lewis at the 85th annual Academy Awards.

Credit: AP Photo

'Lincoln' star Daniel Day-Lewis wins Best Actor Oscar

And he sets a new record in the process

Daniel Day-Lewis has broken an Oscar record this evening. The "Lincoln" star picked up the Best Actor trophy for his performance in the Steven Spielberg film, making him the first actor to win three lead actor prizes.

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<p>Jennifer Lawrence at the 85th annual Academy&nbsp;Awards</p>

Jennifer Lawrence at the 85th annual Academy Awards

Credit: AP Photo

Jennifer Lawrence wins Best Actress at the Oscars for 'Silver Linings Playbook'

She edges out stiff competition from Jessica Chastain and Emmanuelle Riva

Jennifer Lawrence, the 22-year-old star of "Silver Linings Playbook," has won the Oscar for Best Actress at the 85th annual Academy Awards.

"Thank you to the women this year," she said in her acceptance speech. " You were so magnificent and so inspired. It's been so amazing getting to know you…you've made this experience unforgettable."

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<p>Ang Lee at the 85th annual&nbsp;Academy&nbsp;Awards</p>

Ang Lee at the 85th annual Academy Awards

Credit: AP Photo

Ang Lee wins Best Director Oscar for 'Life of Pi'

His second Academy Award to date

In a race lacking the frontrunner for Best Picture ("Argo" director Ben Affleck was left off the list by his fellow filmmakers in the Academy), Best Director boiled down to the visionary, watercolor vision of "Life of Pi" helmer Ang Lee.

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<p>Quentin Tarantino at the 85th annual&nbsp;Academy&nbsp;Awards</p>

Quentin Tarantino at the 85th annual Academy Awards

Credit: AP Photo

'Argo' and 'Django Unchained' win screenplay Oscars

Tarantino picks up his second Academy Award to date

Quentin Tarantino and Chris Terrio will be the lucky writers walking out of the Dolby Theatre tonight with Oscars in hand. The two men won their prizes for "Django Unchained" (Best Original Screenplay) and "Argo" (Best Adapted Screenplay) respectively.

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<p>Adele performing at the 85th annual Academy&nbsp;Awards</p>

Adele performing at the 85th annual Academy Awards

Credit: AP Photo

Adele wins the Best Original Song Oscar for 'Skyfall' at the Academy Awards

007 finally gets his due for the tunes and Shirley Bassey performs!

Pop music sensation can add an Oscar to the countless American Music Awards, Billboard Awards and Grammys she's amassed to date. The "Rolling in the Deep" vocalist won Best Original Song at the Academy Awards this evening for her title track to the James Bond film "Skyfall."

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<p>The cast of &quot;Les Mis&quot; flex their vocal cords at the Academy Awards.</p>

The cast of "Les Mis" flex their vocal cords at the Academy Awards.

Credit: AP Photo

Academy pays tribute to movie musicals as Bassey and Adele represent for Bond

This year's show has taken the movie music theme to heart

"Life of Pi" have have taken the Best Original Score Oscar for long-serving Canadian composer Mychael Danna -- his first ever win -- but that was far from the only celebration of music in the movies at tonight's ceremony.

The odds may be against "Les Miserables" taking Best Picture at the Academy Awards tonight, but don't tell that to telecast producers Craig Zadan and Neil Meron, who gave the film the most generous showcase of any of the nominees in a glittery number dedicated to three of the Academy's favorite musicals of the last decade.

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<p>&quot;Anna Karenina&quot;</p>

"Anna Karenina"

Credit: Focus Features

'Anna Karenina,' 'Les Mis,' 'Lincoln split Oscars for costumes, makeup, production design

No surprise the big period pieces reign at the Academy Awards

It's no surprise the three big period pieces up for awards at tonight's 85th annual Academy Awards ceremony dominated on the design front. Joe Wright's adaptation "Anna Karenina," Tom Hooper's musical "Les Misérables" and Steven Spielberg's biopic "Lincoln" ended up splitting the awards for Best Costume Design, Best Makeup and Hairstyling and Best Production Design.

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"Zero Dark Thirty"

Credit: Sony Pictures

It's a tie! 'Zero Dark Thirty,' 'Skyfall' share sound editing Oscar as 'Les Mis' takes sound mixing

The Academy Awards spring their first dead heat since 1994

There hasn't been a tie at the Academy Awards since 1994, when two films shared the award for Best Live Action Short. That dry spell was broken tonight in the biggest surprise of tonight's Academy Awards so far, as "Skyfall" and "Zero Dark Thirty" split the difference for Best Sound Editing. 

This category was widely seen as one of the night’s toughest awards to call. “Skyfall” won the top prize at the Motion Picture Sound Editors’ Golden Reel Awards last week, but “Life of Pi” won two lesser awards from the same group.

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<p>Anne Hathaway at the 85th annual Academy&nbsp;Awards</p>

Anne Hathaway at the 85th annual Academy Awards

Credit: AP Photo

'Les Misérables' star Anne Hathaway dreamed a dream that came true at the Oscars

No, really. 'It came true.'

For her performance in Universal's musical hit "Les Misérables," actress Anne Hathaway has won the Oscar for Best Supporting Actress at the 85th annual Academy Awards.

"It came true," she nearly whispered upon accepting the prize. She then thanked each of her fellow nominees in the category. "I look up to you all so much and it's been such an honor…here's hoping that someday in the not too distant future, the misfortunes of Fantine will only be found in stories, and never more in real life."

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