FRODO:Wait... There are markings. It's some form of Elvish. I can't read it.
GANDALF:There are few who can. The language is that of Mordor, which I will not utter here.
GANDALF:In the common tongue, it says "One Ring to Rule them all, One Ring to find them. One Ring to bring them all, and in the darkness bind them." This is the One Ring, forged by the Dark Lord, Sauron in the fires of Mount Doom, taken by Isildur from the hand of Sauron himself.
FRODO:Bilbo found it. In Gollum's cave.
GANDALF:Yes. For 60 years the Ring lay quiet, in Bilbo's keeping, prolonging his life, delaying old age. But no longer, Frodo. Evil is stirring in Mordor. The Ring has awoken. It's heard its master's call.
FRODO:But he was destroyed. Sauron was destroyed.
GANDALF:No, Frodo. The spirit of Sauron endured. His life force is bound to the Ring, and the Ring survived. Sauron has returned. His Orcs have multiplied, his fortress of Barad-dûr is rebuilt in the land of Mordor. Sauron needs only this Ring to cover all the lands in a second darkness. He is seeking it. Seeking it, all his thought is bent on it. The Ring yearns above all else to return to the hand of its master. They are one. The Ring, and the Dark Lord. Frodo - he must never find it.
FRODO:All right. We put it away. We keep it hidden. We never speak of it again. No one knows it's here, do they? Do they, Gandalf?
GANDALF:There is one other that knew that Bilbo had the Ring. I looked everywhere for the creature Gollum. But the enemy found him first. I don't know how long they tortured him for. But amidst the endless screams and inane babble, they discerned two words.
GOLLUM: SHIRE! BAGGINS!
FRODO:Shire! Baggins?! But that would lead them here!
GANDALF:My dear Frodo. Hobbits really are amazing creatures. You can learn all that there is to know about their ways in a month, and yet after a hundred years, they can still surprise you.
SAM: This is it.
FRODO:This is what?
SAM: If I take one more step, it'll be the farthest away from home I've ever been.
FRODO:Sam! Wood Elves.
FRODO:They're going to the harbor beyond the white towers. To the Grey Havens.
SAM: They're leaving Middle-earth.
FRODO:Never to return.
SAM: I don't know why - it makes me sad.