on a fifo basis , these monomers together represented approximately $ 609.5 million , $ 732.9 million and $ 658.9 million or 57.2 % , 61.5 % and 58.8 % of our total cost of goods sold for the years ended december 31 , 2013 , 2012 and 2011 , respectively . since the cost of our three primary raw materials comprise a significant amount of our total cost of goods sold , our selling prices for our products and therefore our total sales revenue is impacted by movements in our raw material costs , as well as the cost of other inputs . in addition , product mix can have an impact on our overall unit selling prices , since we provide an extensive product offering and therefore experience a wide range of unit selling prices . the cost of butadiene and isoprene is impacted by worldwide supply and demand for the monomers , prevailing energy prices and prices for natural and synthetic rubber . the cost of styrene is impacted by worldwide supply and demand for styrene , benzene and eth ylene and prevailing energy prices . in aggregate , average purchase prices decreased for butadiene and isoprene during 2013 compared to 2012 , with an increase in average purchase prices for styrene . average butadiene purchase prices were lower during 2012 compared to 2011. average isoprene and styrene purchase prices were higher in 2012 compared to 2011 , with a more significant increase in isoprene prices . we use the fifo basis of accounting for inventory and cost of goods sold , and therefore gross profit . in periods of raw material price volatility , reported results under fifo will differ from what the results would have been if cost of goods sold were based on ecrc . specifically , in periods of rising raw material costs , reported gross profit will be higher under fifo than under ecrc . conversely , in periods of declining raw material costs , reported gross profit will be lower under fifo th an under ecrc . in 36 recognition of the fact that the cost of raw materials affects our results of operations and the comparability of our results of operations we provide the difference , or spread , between fifo and ecrc . · in 2013 , reported results under fifo were lower than results would have been on an ecrc basis by $ 30.7 million ; · in 2012 , reported results under fifo were lower than results would have been on an ecrc basis by $ 30.5 million ; · in 2011 , reported results under fifo were higher than results would have been on an ecrc basis by $ 66.3 million . international operations and currency fluctuations . we operate a geographically diverse business , serving customers in over 60 countries from five manufacturing facilities on four continents . our sales and production costs are mainly denominated in u.s. dollars , euro , japanese yen and brazilian real . from time to time , we use hedging strategies to reduce our exposure to currency fluctuations . we generated our sales revenue from customers located in the following regions : replace_table_token_15_th our financial results are subject to gains and losses on currency translations , which occur when the financial statements of foreign operations are translated into u.s. dollars . the financial statements of operations outside the united states where the local currency is considered to be the functional currency are translated into u.s. dollars using the exchange rate at each balance sheet date for assets and liabilities and the average exchange rate for each period for revenue , expenses , gains and losses and cash flows . the effect of translating the balance sheet into u.s. dollars is included as a component of accumulated other comprehensive income ( loss ) . any appreciation of the functional currencies against the u.s. dollar will increase the u.s. dollar equivalent of amounts of revenue , expenses , gains and losses and cash flows , and any depreciation of the functional currencies will decrease the u.s. dollar amounts reported . our results of operations are also subject to currency transaction risk . we incur currency transaction risk when we enter into either a purchase or sale transaction using a currency other than the local currency of the transacting entity . the estimated impact from currency fluctuations amounted to a pre-tax loss of $ 4.8 million , a pre-tax loss of $ 6.4 million and a pre-tax income of $ 1.1 million for the years ended december 31 , 2013 , 2012 and 2011 , respectively . the primary driver for our pre-tax losses in 2013 and 2012 was the change in foreign currency exchange rates between the japanese yen and u.s. dollar and the euro and u.s. dollar , respectively . the primary driver for our pre-tax income in 2011 was the change in foreign currency exchange rates between the euro and u.s. dollar . seasonality . seasonal changes and weather conditions typically affect the paving and roofing end use market generally resulting in higher sales volumes into this end use market in the second and third quarters of the calendar year versus the first and fourth quarters of the calendar year . however , sales volumes into this end use market were lower in the second and third quarter of 2012 than in the first quarter of 2012 , during which demand was higher than normal , particularly in europe and north america paving . our other end use markets tend to show relatively little seasonality . outlook in the first quarter of 2014 we experienced weather-related downtime at our belpre , ohio facility . story_separator_special_tag · cariflex tm . sales revenue increased $ 6.6 million or 6.7 % to $ 105.9 million for the year ended december 31 , 2012 from $ 99.3 million for the year ended december 31 , 2011. excluding the $ 6.4 million impact from changes in foreign currency exchange rates , sales revenue improved $ 13.0 million or 13.1 % . the revenue increase reflects increased sales volume , mainly in surgical glove applications , and an increase in average selling prices across the cariflex portfolio . · other sales revenue decreased $ 4.5 million to $ 2.2 million for the year ended december 31 , 2012 . 40 cost of goods sold cost of goods sold increased $ 70.4 million or 6.3 % to $ 1,191.7 million for the year ended december 31 , 2012 from $ 1,121.3 million for the year ended december 31 , 2011. the increase was driven largely by increased monomer costs in the amount of $ 85.2 million , which includes the year-over-year $ 96.9 million negative impact assoc iated with the spread between the fifo and ecrc basis , increased sales volumes in the amount of $ 30.9 million , a $ 5.6 million charge associated with the resolution of a property tax dispute in france , storm related charges of $ 2.5 million and restructuring and related charges of $ 1.0 million , partially offset by a $ 53.9 million decrease from changes in foreign currency exchange rates , and a $ 6.8 million benefit associated with a refund received in settlement of a matter with lyondellbasell ( the “ lbi settlement ” ) . gross profit gross profit decreased $ 84.7 million or 26.8 % to $ 231.4 million for the year ended december 31 , 2012 from $ 316.2 million for the year ended december 31 , 2011. for the year ended december 31 , 2012 , our reported gross profit under fifo was lower than what it would have been under ecrc by approximately $ 30.5 million and for the year ended december 31 , 2011 was higher by $ 66.3 million . see “ —factors affecting our results of operations—raw materials and product mix ” above . operating expenses · research and development . research and development expense increased $ 3.0 million or 10.8 % , primarily due to an increase in employee related costs commensurate with additions to staffing levels among our scientists and increased lease expense for our research and development facilities , partially offset by lower maintenance and operational costs . research and development expenses were 2.2 % of sales revenue for the year ended december 31 , 2012 and 1.9 % of sales revenue for the year ended december 31 , 2011 . · selling , general and administrative . selling , general and administrative expense decreased $ 3.1 million or 3.0 % . the decrease was primarily due to $ 2.9 million in lower information technology costs , $ 1.8 million from changes in foreign currency exchange rates and $ 1.2 million in restructuring and related costs , partially offset by $ 1.1 million of increased non-cash compensation expense , $ 1.1 million retirement plan settlement charge and a $ 0.6 million charge associated with the resolution of a property tax dispute in france . selling , general and administrative expenses were 6.9 % of sales revenue for the year ended december 31 , 2012 and 7.1 % of sales revenue for the year ended december 31 , 2011 . · depreciation and amortization . depreciation and amortization increased $ 1.8 million or 2.9 % , primarily due to increased levels of capital expenditures and depreciation of our asset retirement obligations . · impairment of long-lived assets . we recorded a pre-tax charge of $ 5.4 million in the aggregate for the impairment of long-lived assets , of which $ 3.4 million was related to the hsbc facility in mailiao , taiwan and $ 2.0 million related to other long-lived assets . our subsequent entry into definitive documents for the joint venture did not affect these charges . story_separator_special_tag style= `` margin-bottom:0pt ; margin-top:12pt ; margin-left:0 % ; margin-right:0 % ; text-indent:4.54 % ; font-size:10pt ; font-family : times new roman ; `` > we believe the current assumptions and other considerations used to estimate amounts reflected in our consolidated financial statements are appropriate . however , should our actual experience differ from these assumptions and other considerations used in estimating these amounts , the impact of these differences could have a material impact on our consolidated financial statements . allowance for doubtful accounts . the allowance for doubtful accounts is our best estimate of the amount of probable credit losses in our existing receivables and is determined based on our assessment of the credit worthiness of individual customers , historical write-off experience and global economic data . we review the allowance for doubtful accounts quarterly . account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote . we do not have any off-balance sheet credit exposure related to our customers . inventories . our inventory is principally comprised of finished goods inventory . inventories are stated at the lower of cost or market as primarily determined on a first-in , first-out basis . we evaluate the carrying cost of our inventory on a quarterly basis for this purpose . if the cost of the inventories exceeds their market value , provisions are made for the difference between the cost and the market value . 42 property , plant and equipment . property , plant and equipment are recorded at cost . major renewals and improv ements that extend the useful lives of equipment are capitalized . repair and maintenance costs are expensed as incurred . disposals are removed at carrying cost less accumulated depreciation with any resulting gain or loss reflected in earnings . we capitalize interest costs

loss on extinguishment of debt in connection with the refinancing of our indebtedness in the first quarter of 2011 , we incurred a $ 3.0 million loss on the extinguishment of debt . interest expense , net interest expense , net decreased $ 0.6 million or 1.9 % to $ 29.3 million for the year ended december 31 , 2012 from $ 29.9 million for the year ended december 31 , 2011. the decrease was primarily due to charges aggregating $ 5.2 million associated with the debt refinancing in the first quarter of 2011 , partially offset by increased average debt balances . income tax expense our income tax expense was $ 19.3 million and $ 0.6 million for the years ended december 31 , 2012 and 2011 , respectively . our effective tax rate was 619.8 % and 0.6 % for the years ended december 31 , 2012 and 2011 , respectively . our effective tax rates differed from the u.s. corporate statutory tax rate of 35.0 % , primarily due to the mix of pre-tax income earned in foreign jurisdictions and our limited ability to utilize net operating loss carryforwards in certain jurisdictions , primarily in the united states . we record a valuation allowance when it is more likely than not that some portion or all of the deferred tax assets will not be realized . as of december 31 , 2012 and 2011 , a valuation allowance of $ 90.4 million and $ 54.2 million , respectively , has been provided for net operating loss carryforwards and other deferred tax assets .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```loss on extinguishment of debt in connection with the refinancing of our indebtedness in the first quarter of 2011 , we incurred a $ 3.0 million loss on the extinguishment of debt . interest expense , net interest expense , net decreased $ 0.6 million or 1.9 % to $ 29.3 million for the year ended december 31 , 2012 from $ 29.9 million for the year ended december 31 , 2011. the decrease was primarily due to charges aggregating $ 5.2 million associated with the debt refinancing in the first quarter of 2011 , partially offset by increased average debt balances . income tax expense our income tax expense was $ 19.3 million and $ 0.6 million for the years ended december 31 , 2012 and 2011 , respectively . our effective tax rate was 619.8 % and 0.6 % for the years ended december 31 , 2012 and 2011 , respectively . our effective tax rates differed from the u.s. corporate statutory tax rate of 35.0 % , primarily due to the mix of pre-tax income earned in foreign jurisdictions and our limited ability to utilize net operating loss carryforwards in certain jurisdictions , primarily in the united states . we record a valuation allowance when it is more likely than not that some portion or all of the deferred tax assets will not be realized . as of december 31 , 2012 and 2011 , a valuation allowance of $ 90.4 million and $ 54.2 million , respectively , has been provided for net operating loss carryforwards and other deferred tax assets .
```    
 Suspicious Activity Report : on a fifo basis , these monomers together represented approximately $ 609.5 million , $ 732.9 million and $ 658.9 million or 57.2 % , 61.5 % and 58.8 % of our total cost of goods sold for the years ended december 31 , 2013 , 2012 and 2011 , respectively . since the cost of our three primary raw materials comprise a significant amount of our total cost of goods sold , our selling prices for our products and therefore our total sales revenue is impacted by movements in our raw material costs , as well as the cost of other inputs . in addition , product mix can have an impact on our overall unit selling prices , since we provide an extensive product offering and therefore experience a wide range of unit selling prices . the cost of butadiene and isoprene is impacted by worldwide supply and demand for the monomers , prevailing energy prices and prices for natural and synthetic rubber . the cost of styrene is impacted by worldwide supply and demand for styrene , benzene and eth ylene and prevailing energy prices . in aggregate , average purchase prices decreased for butadiene and isoprene during 2013 compared to 2012 , with an increase in average purchase prices for styrene . average butadiene purchase prices were lower during 2012 compared to 2011. average isoprene and styrene purchase prices were higher in 2012 compared to 2011 , with a more significant increase in isoprene prices . we use the fifo basis of accounting for inventory and cost of goods sold , and therefore gross profit . in periods of raw material price volatility , reported results under fifo will differ from what the results would have been if cost of goods sold were based on ecrc . specifically , in periods of rising raw material costs , reported gross profit will be higher under fifo than under ecrc . conversely , in periods of declining raw material costs , reported gross profit will be lower under fifo th an under ecrc . in 36 recognition of the fact that the cost of raw materials affects our results of operations and the comparability of our results of operations we provide the difference , or spread , between fifo and ecrc . · in 2013 , reported results under fifo were lower than results would have been on an ecrc basis by $ 30.7 million ; · in 2012 , reported results under fifo were lower than results would have been on an ecrc basis by $ 30.5 million ; · in 2011 , reported results under fifo were higher than results would have been on an ecrc basis by $ 66.3 million . international operations and currency fluctuations . we operate a geographically diverse business , serving customers in over 60 countries from five manufacturing facilities on four continents . our sales and production costs are mainly denominated in u.s. dollars , euro , japanese yen and brazilian real . from time to time , we use hedging strategies to reduce our exposure to currency fluctuations . we generated our sales revenue from customers located in the following regions : replace_table_token_15_th our financial results are subject to gains and losses on currency translations , which occur when the financial statements of foreign operations are translated into u.s. dollars . the financial statements of operations outside the united states where the local currency is considered to be the functional currency are translated into u.s. dollars using the exchange rate at each balance sheet date for assets and liabilities and the average exchange rate for each period for revenue , expenses , gains and losses and cash flows . the effect of translating the balance sheet into u.s. dollars is included as a component of accumulated other comprehensive income ( loss ) . any appreciation of the functional currencies against the u.s. dollar will increase the u.s. dollar equivalent of amounts of revenue , expenses , gains and losses and cash flows , and any depreciation of the functional currencies will decrease the u.s. dollar amounts reported . our results of operations are also subject to currency transaction risk . we incur currency transaction risk when we enter into either a purchase or sale transaction using a currency other than the local currency of the transacting entity . the estimated impact from currency fluctuations amounted to a pre-tax loss of $ 4.8 million , a pre-tax loss of $ 6.4 million and a pre-tax income of $ 1.1 million for the years ended december 31 , 2013 , 2012 and 2011 , respectively . the primary driver for our pre-tax losses in 2013 and 2012 was the change in foreign currency exchange rates between the japanese yen and u.s. dollar and the euro and u.s. dollar , respectively . the primary driver for our pre-tax income in 2011 was the change in foreign currency exchange rates between the euro and u.s. dollar . seasonality . seasonal changes and weather conditions typically affect the paving and roofing end use market generally resulting in higher sales volumes into this end use market in the second and third quarters of the calendar year versus the first and fourth quarters of the calendar year . however , sales volumes into this end use market were lower in the second and third quarter of 2012 than in the first quarter of 2012 , during which demand was higher than normal , particularly in europe and north america paving . our other end use markets tend to show relatively little seasonality . outlook in the first quarter of 2014 we experienced weather-related downtime at our belpre , ohio facility . story_separator_special_tag · cariflex tm . sales revenue increased $ 6.6 million or 6.7 % to $ 105.9 million for the year ended december 31 , 2012 from $ 99.3 million for the year ended december 31 , 2011. excluding the $ 6.4 million impact from changes in foreign currency exchange rates , sales revenue improved $ 13.0 million or 13.1 % . the revenue increase reflects increased sales volume , mainly in surgical glove applications , and an increase in average selling prices across the cariflex portfolio . · other sales revenue decreased $ 4.5 million to $ 2.2 million for the year ended december 31 , 2012 . 40 cost of goods sold cost of goods sold increased $ 70.4 million or 6.3 % to $ 1,191.7 million for the year ended december 31 , 2012 from $ 1,121.3 million for the year ended december 31 , 2011. the increase was driven largely by increased monomer costs in the amount of $ 85.2 million , which includes the year-over-year $ 96.9 million negative impact assoc iated with the spread between the fifo and ecrc basis , increased sales volumes in the amount of $ 30.9 million , a $ 5.6 million charge associated with the resolution of a property tax dispute in france , storm related charges of $ 2.5 million and restructuring and related charges of $ 1.0 million , partially offset by a $ 53.9 million decrease from changes in foreign currency exchange rates , and a $ 6.8 million benefit associated with a refund received in settlement of a matter with lyondellbasell ( the “ lbi settlement ” ) . gross profit gross profit decreased $ 84.7 million or 26.8 % to $ 231.4 million for the year ended december 31 , 2012 from $ 316.2 million for the year ended december 31 , 2011. for the year ended december 31 , 2012 , our reported gross profit under fifo was lower than what it would have been under ecrc by approximately $ 30.5 million and for the year ended december 31 , 2011 was higher by $ 66.3 million . see “ —factors affecting our results of operations—raw materials and product mix ” above . operating expenses · research and development . research and development expense increased $ 3.0 million or 10.8 % , primarily due to an increase in employee related costs commensurate with additions to staffing levels among our scientists and increased lease expense for our research and development facilities , partially offset by lower maintenance and operational costs . research and development expenses were 2.2 % of sales revenue for the year ended december 31 , 2012 and 1.9 % of sales revenue for the year ended december 31 , 2011 . · selling , general and administrative . selling , general and administrative expense decreased $ 3.1 million or 3.0 % . the decrease was primarily due to $ 2.9 million in lower information technology costs , $ 1.8 million from changes in foreign currency exchange rates and $ 1.2 million in restructuring and related costs , partially offset by $ 1.1 million of increased non-cash compensation expense , $ 1.1 million retirement plan settlement charge and a $ 0.6 million charge associated with the resolution of a property tax dispute in france . selling , general and administrative expenses were 6.9 % of sales revenue for the year ended december 31 , 2012 and 7.1 % of sales revenue for the year ended december 31 , 2011 . · depreciation and amortization . depreciation and amortization increased $ 1.8 million or 2.9 % , primarily due to increased levels of capital expenditures and depreciation of our asset retirement obligations . · impairment of long-lived assets . we recorded a pre-tax charge of $ 5.4 million in the aggregate for the impairment of long-lived assets , of which $ 3.4 million was related to the hsbc facility in mailiao , taiwan and $ 2.0 million related to other long-lived assets . our subsequent entry into definitive documents for the joint venture did not affect these charges . story_separator_special_tag style= `` margin-bottom:0pt ; margin-top:12pt ; margin-left:0 % ; margin-right:0 % ; text-indent:4.54 % ; font-size:10pt ; font-family : times new roman ; `` > we believe the current assumptions and other considerations used to estimate amounts reflected in our consolidated financial statements are appropriate . however , should our actual experience differ from these assumptions and other considerations used in estimating these amounts , the impact of these differences could have a material impact on our consolidated financial statements . allowance for doubtful accounts . the allowance for doubtful accounts is our best estimate of the amount of probable credit losses in our existing receivables and is determined based on our assessment of the credit worthiness of individual customers , historical write-off experience and global economic data . we review the allowance for doubtful accounts quarterly . account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote . we do not have any off-balance sheet credit exposure related to our customers . inventories . our inventory is principally comprised of finished goods inventory . inventories are stated at the lower of cost or market as primarily determined on a first-in , first-out basis . we evaluate the carrying cost of our inventory on a quarterly basis for this purpose . if the cost of the inventories exceeds their market value , provisions are made for the difference between the cost and the market value . 42 property , plant and equipment . property , plant and equipment are recorded at cost . major renewals and improv ements that extend the useful lives of equipment are capitalized . repair and maintenance costs are expensed as incurred . disposals are removed at carrying cost less accumulated depreciation with any resulting gain or loss reflected in earnings . we capitalize interest costs

