cce has obtained the required approval from polish airports , which is the co-shareholder in cpl , and from the polish minister of finance . we anticipate closing the transaction in early april 2013. the following table summarizes the polish cities in which cpl operate d as of december 31 , 2012 , each casino 's location , number of slots and tables . replace_table_token_3_th cpl obtained an additional gaming license in the city of plock and opened a casino on february 10 , 2013 . plock , one of the oldest cities in poland , has more than 1 3 0,000 inhabitants and is located approximately 62 miles north of warsaw . cpl is also participating in other license applications , including another location in warsaw . decisions from the polish minister of finance on these applications are pending . 28 in december 2010 , we entered into a long-term management agreement to direct the operation of the casino at the radisson aruba resort , casino & spa . we receive a management fee consisting of a fixed fee , plus a percentage of the casino 's ebitda . we were not required to invest any amounts under the management agreement . we recognize in our statement of earnings , foreign currency transaction gains or losses resulting from the translation of casino operations and other transactions that are denominated in a currency other than u.s. dollars . our casinos in canada represent a significant portion of our business , and the revenue generated and expenses incurred by these operations are generally denominated in canadian dollars . a decrease in the value of this currency in relation to the value of the u.s. dollar would decrease the earnings from our foreign operations when translated into u.s. dollars , and an increase in the value of this currency in relation to the value of the u.s. dollar would increase the earnings from our foreign operations when translated into u.s. dollars . see note 2 `` significant accounting policies - foreign currency translation `` to the consolidated financial statements included elsewhere in this report . presentation of foreign currency amounts - the average exchange rates to the u.s. dollar used to translate balances during each reported period are as follows : replace_table_token_4_th 29 recent developments on november 30 , 2012 , cce signed credit and management agreements with united horseman of alberta inc. ( “ uha ” ) in connection with the development of a proposed racing entertainment center ( “ rec ” ) in balzac , north metropolitan area of calgary , alberta , canada . we would manage the rec upon completion . both the credit and management agreements are subject to development approvals and licensing from the aglc as discussed below . the proposed project would be located less than one mile north of the city limits of calgary and 4.5 miles from the calgary international airport . the location is ideally positioned at an exit off the queen elizabeth ii highway , which is the main corridor between calgary and edmonton and one of the most heavily used highways in wes tern canada . the location is also next to the crossiron mills shopping mall , a major regional attraction . the location would allow the rec to capture both the north and the northwest calgary markets , where there is not currently a casino . the rec would be located approximately 17 miles from century casino calgary and would serve what we believe is a different customer base including customers who also are interested in horse racing . the rec project would be the only horse race track in the calgary area and would consist of a 5.5 furlongs ( 0.7 miles ) race track , a gaming floor proposing 625 slot machines , a bar , a lounge , restaurant facilities , an off-track-betting area and an entertainment area . this rec license is the only license still available in any metropolitan area of alberta . the license application for this rec project pre-dates a recent three-year moratorium imposed by the alberta gaming and liquor commission ( “ aglc ” ) on new casinos and recs . the aglc also has an option to extend the moratorium for an additional two years . the rec project is subject to development approvals and licensing from the aglc . uha and cce have submitted the relevant applications , but there is no assurance that the needed approvals will be obtained or as to the timing of such approvals . horse racing alberta , the governing authority for horse racing in alberta , has already approved the rec project and issued a license . we anticipate that the rec would be completed 12 to 18 months following completion of the approval process . t here is no assurance that the needed approvals will be obtained or as to the timin g of such approvals . cce has agreed to loan to uha up to cad 13 million ( $ 13 million ) for the exclusive use of developing the rec project . the loan has an interest rate of libor plus 800 basis points and a term of five years and is convertible at cce 's option once the project becomes operational into an ownership position in uha of up to 60 % . the loan is secured by a leasehold mortgage on the rec property and a pledge of uha 's stock by the majority of uha shareholders . we intend to fund the loan with borrowings under our bmo credit agreement . we have paid $ 0.1 million in deferred financing costs related to legal fees incurred for the uha loan . in addition , we have placed $ 0.3 million in escrow related to the uha loan . story_separator_special_tag million in stock - based compensation expense as a component of general and administrative expenses . at december 31 , 201 2 , we had less than $ 0.1 million of total unrecognized compensation expense related to stock options . earnings from equity investment we own 33.3 % of all shares issued by cpl . our portion of cpl 's earnings is recorded as earnings from equity investment . we recorded a decrease in earnings fr om our investment in cpl of $ 0.2 million for the year ended december 31 , 2012 compared to year ended december 31 , 2011. the decrease for the year ended december 31 , 2012 compared to the year ended december 31 , 2011 is primarily the result of lower performing properties that were in a start-up phase during the second and third quarters of 2012 offset by increased gaming revenue . for the nine months ended september 30 , 2012 compared to the nine months ended september 30 , 2011 , cpl 's market share decreased from 58 % to 43 % . we believe the decrease is due to the addition of 19 operations to the market during 2012 and lower performing properties that were in a start-up phase during the second and third quarters of 2012 . on october 11 , 2012 , cce signed an agreement with lot polish airlines to acquire an additional 33.3 % ownership interest in cpl . cce has obtained required approval from the co-shareholder in cpl , polish airports and from the polish minister of finance . upon closing of the transaction , cce will own a 66.6 % ownership interest in cpl . the purchase price is approximately $ 6 . 9 million , and o n february 21 , 2013 , we borrowed cad 7.3 million ( approximately $ 7.2 million based on the exchange rate in effect on february 21 , 2013 ) from the bmo credit agreement to pay for the investment . we anticipate closing the transaction in early april 2013. once the transaction is final , we anticipate consolidating cpl as a majority-owned subsidiary for which we would have a c ontrolling financial interest . we would account for and report the 33.3 % polish airports ownership interest as a non-controlling financial interest . consolidation of cpl would increase our overall net operating revenue and operating costs and expenses because previously we have reported our interest in cpl under the equity method . in march 2011 , the polish internal revenue service ( “ polish irs ” ) conducted a tax audit of cpl to review the calculation and payment of personal income tax by cpl employees covering january 2011. based on this audit , the polish irs concluded that cpl should calculate , collect and remit to the polish irs personal income tax on tips received by cpl employees from casino customers . after proceedings between cpl and the polish irs , the director of the tax chamber in warsaw confirmed the opinion of the polish irs on november 19 , 2012 , and on november 30 , 2012 cpl paid pln 125,269 ( less than $ 0.1 million ) to the polish irs resulting from the decision . cpl appealed the decision to the regional administrative court in warsaw on december 21 , 2012. a final decision is not expect to be reached in 2013 and could take longer . similar litigation involving competitors concerning the treatment of tips is ongoing . 38 non-operating income ( expense ) non-operating income ( expense ) for t he years ended december 31 , 2012 and 2011 was as follows : replace_table_token_12_th interest income interest income is directly related to interest earned on our cash reserves . interest expense the decr ease in interest expense of $ 0.1 million for the year ended decem ber 31 , 2012 compared to the year ended december 31 , 2011 is due to interest expense savings from a lower average debt balance in 2012 of $ 5.1 million compared to a n average debt balance of $ 10.7 million in 2011. the decrease in interest expense was offset by prepayment penalties of $ 0.2 million related to the early payoff of the edmonton mortgage in may 2012 . taxes the company 's income tax expense by jurisdiction is summarized in the table below : replace_table_token_13_th the u . s . effective income tax rate has increased for the year ended december 31 , 2012 compared to the year ended december 31 , 2011 due to a one-time withholding tax payment of $ 0.1 million related to a canadian intercompany payable offset by the benefit associated with utilizing net operating losses that had been previously reserved . the canadian effective income tax rate increased for the year ended december 31 , 2012 compared to the year ended december 31 , 2011 due primarily to the translation effect of foreign currency gains and losses related to the change in the foreign exchange rate and interest expense related to lower principal balances on third party debt related to our canadian properties . the effective tax rates of our foreign properties are impacted by the movement of exchange rates primarily due to intercompany loans which are denominated in u.s. dollars . therefore , foreign currency gains or losses recorded in each property 's local currency do not impact our earnings reported in u.s. dollars . certain intercompany loans of our foreign properties are denominated in u.s. dollars . therefore , foreign currency gains or losses can significantly impact each jurisdiction 's effective tax rate . 39 liquidity and capital resources cash flows our business is capital intensive , and we rely heavily on the ability of our casinos to generate operating cash flow . we use the cash flows that we generate to maintain operations , fund reinvestment in existing properties for both refurbishment and expansion projects , repay third party debt , and pursue additional growth

cash an d cash equivalents totaled $ 24.8 million at december 31 , 2012 , and we had working capital ( current assets minus current liabilities ) of $ 13.5 million compared to c ash and cash equivalents of $ 2 5 .2 mil lion and working capital of $ 6.0 million at december 31 , 201 1 . the decrease in cash and cash equivalents is due to $ 9 . 1 million for the repayment of the edmonton mortgage , $ 3.8 million for various capital expenditures and $ 0.4 million for deferred financing and escrow costs related to the uha loan . these uses of cash were offset by $ 9.2 million cash provided by operating activities , $ 3.2 million in proceeds from bmo borrowings net of principal repayments and deferred financing costs and $ 0.3 million proceeds from the exercise of stock options . the increase in working capital is due to the $ 9.1 million repayment of the edmonton mortgage , which was classified as a current liability as of december 31 , 2011. net cash provided by operating activities was $ 9 .2 million and $ 10.7 million in 2012 and 2011 , respectively . our cash flows from operations have historically been positive and sufficient to fund ordinary operations .


 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.
     ```cash an d cash equivalents totaled $ 24.8 million at december 31 , 2012 , and we had working capital ( current assets minus current liabilities ) of $ 13.5 million compared to c ash and cash equivalents of $ 2 5 .2 mil lion and working capital of $ 6.0 million at december 31 , 201 1 . the decrease in cash and cash equivalents is due to $ 9 . 1 million for the repayment of the edmonton mortgage , $ 3.8 million for various capital expenditures and $ 0.4 million for deferred financing and escrow costs related to the uha loan . these uses of cash were offset by $ 9.2 million cash provided by operating activities , $ 3.2 million in proceeds from bmo borrowings net of principal repayments and deferred financing costs and $ 0.3 million proceeds from the exercise of stock options . the increase in working capital is due to the $ 9.1 million repayment of the edmonton mortgage , which was classified as a current liability as of december 31 , 2011. net cash provided by operating activities was $ 9 .2 million and $ 10.7 million in 2012 and 2011 , respectively . our cash flows from operations have historically been positive and sufficient to fund ordinary operations .
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 Suspicious Activity Report : cce has obtained the required approval from polish airports , which is the co-shareholder in cpl , and from the polish minister of finance . we anticipate closing the transaction in early april 2013. the following table summarizes the polish cities in which cpl operate d as of december 31 , 2012 , each casino 's location , number of slots and tables . replace_table_token_3_th cpl obtained an additional gaming license in the city of plock and opened a casino on february 10 , 2013 . plock , one of the oldest cities in poland , has more than 1 3 0,000 inhabitants and is located approximately 62 miles north of warsaw . cpl is also participating in other license applications , including another location in warsaw . decisions from the polish minister of finance on these applications are pending . 28 in december 2010 , we entered into a long-term management agreement to direct the operation of the casino at the radisson aruba resort , casino & spa . we receive a management fee consisting of a fixed fee , plus a percentage of the casino 's ebitda . we were not required to invest any amounts under the management agreement . we recognize in our statement of earnings , foreign currency transaction gains or losses resulting from the translation of casino operations and other transactions that are denominated in a currency other than u.s. dollars . our casinos in canada represent a significant portion of our business , and the revenue generated and expenses incurred by these operations are generally denominated in canadian dollars . a decrease in the value of this currency in relation to the value of the u.s. dollar would decrease the earnings from our foreign operations when translated into u.s. dollars , and an increase in the value of this currency in relation to the value of the u.s. dollar would increase the earnings from our foreign operations when translated into u.s. dollars . see note 2 `` significant accounting policies - foreign currency translation `` to the consolidated financial statements included elsewhere in this report . presentation of foreign currency amounts - the average exchange rates to the u.s. dollar used to translate balances during each reported period are as follows : replace_table_token_4_th 29 recent developments on november 30 , 2012 , cce signed credit and management agreements with united horseman of alberta inc. ( “ uha ” ) in connection with the development of a proposed racing entertainment center ( “ rec ” ) in balzac , north metropolitan area of calgary , alberta , canada . we would manage the rec upon completion . both the credit and management agreements are subject to development approvals and licensing from the aglc as discussed below . the proposed project would be located less than one mile north of the city limits of calgary and 4.5 miles from the calgary international airport . the location is ideally positioned at an exit off the queen elizabeth ii highway , which is the main corridor between calgary and edmonton and one of the most heavily used highways in wes tern canada . the location is also next to the crossiron mills shopping mall , a major regional attraction . the location would allow the rec to capture both the north and the northwest calgary markets , where there is not currently a casino . the rec would be located approximately 17 miles from century casino calgary and would serve what we believe is a different customer base including customers who also are interested in horse racing . the rec project would be the only horse race track in the calgary area and would consist of a 5.5 furlongs ( 0.7 miles ) race track , a gaming floor proposing 625 slot machines , a bar , a lounge , restaurant facilities , an off-track-betting area and an entertainment area . this rec license is the only license still available in any metropolitan area of alberta . the license application for this rec project pre-dates a recent three-year moratorium imposed by the alberta gaming and liquor commission ( “ aglc ” ) on new casinos and recs . the aglc also has an option to extend the moratorium for an additional two years . the rec project is subject to development approvals and licensing from the aglc . uha and cce have submitted the relevant applications , but there is no assurance that the needed approvals will be obtained or as to the timing of such approvals . horse racing alberta , the governing authority for horse racing in alberta , has already approved the rec project and issued a license . we anticipate that the rec would be completed 12 to 18 months following completion of the approval process . t here is no assurance that the needed approvals will be obtained or as to the timin g of such approvals . cce has agreed to loan to uha up to cad 13 million ( $ 13 million ) for the exclusive use of developing the rec project . the loan has an interest rate of libor plus 800 basis points and a term of five years and is convertible at cce 's option once the project becomes operational into an ownership position in uha of up to 60 % . the loan is secured by a leasehold mortgage on the rec property and a pledge of uha 's stock by the majority of uha shareholders . we intend to fund the loan with borrowings under our bmo credit agreement . we have paid $ 0.1 million in deferred financing costs related to legal fees incurred for the uha loan . in addition , we have placed $ 0.3 million in escrow related to the uha loan . story_separator_special_tag million in stock - based compensation expense as a component of general and administrative expenses . at december 31 , 201 2 , we had less than $ 0.1 million of total unrecognized compensation expense related to stock options . earnings from equity investment we own 33.3 % of all shares issued by cpl . our portion of cpl 's earnings is recorded as earnings from equity investment . we recorded a decrease in earnings fr om our investment in cpl of $ 0.2 million for the year ended december 31 , 2012 compared to year ended december 31 , 2011. the decrease for the year ended december 31 , 2012 compared to the year ended december 31 , 2011 is primarily the result of lower performing properties that were in a start-up phase during the second and third quarters of 2012 offset by increased gaming revenue . for the nine months ended september 30 , 2012 compared to the nine months ended september 30 , 2011 , cpl 's market share decreased from 58 % to 43 % . we believe the decrease is due to the addition of 19 operations to the market during 2012 and lower performing properties that were in a start-up phase during the second and third quarters of 2012 . on october 11 , 2012 , cce signed an agreement with lot polish airlines to acquire an additional 33.3 % ownership interest in cpl . cce has obtained required approval from the co-shareholder in cpl , polish airports and from the polish minister of finance . upon closing of the transaction , cce will own a 66.6 % ownership interest in cpl . the purchase price is approximately $ 6 . 9 million , and o n february 21 , 2013 , we borrowed cad 7.3 million ( approximately $ 7.2 million based on the exchange rate in effect on february 21 , 2013 ) from the bmo credit agreement to pay for the investment . we anticipate closing the transaction in early april 2013. once the transaction is final , we anticipate consolidating cpl as a majority-owned subsidiary for which we would have a c ontrolling financial interest . we would account for and report the 33.3 % polish airports ownership interest as a non-controlling financial interest . consolidation of cpl would increase our overall net operating revenue and operating costs and expenses because previously we have reported our interest in cpl under the equity method . in march 2011 , the polish internal revenue service ( “ polish irs ” ) conducted a tax audit of cpl to review the calculation and payment of personal income tax by cpl employees covering january 2011. based on this audit , the polish irs concluded that cpl should calculate , collect and remit to the polish irs personal income tax on tips received by cpl employees from casino customers . after proceedings between cpl and the polish irs , the director of the tax chamber in warsaw confirmed the opinion of the polish irs on november 19 , 2012 , and on november 30 , 2012 cpl paid pln 125,269 ( less than $ 0.1 million ) to the polish irs resulting from the decision . cpl appealed the decision to the regional administrative court in warsaw on december 21 , 2012. a final decision is not expect to be reached in 2013 and could take longer . similar litigation involving competitors concerning the treatment of tips is ongoing . 38 non-operating income ( expense ) non-operating income ( expense ) for t he years ended december 31 , 2012 and 2011 was as follows : replace_table_token_12_th interest income interest income is directly related to interest earned on our cash reserves . interest expense the decr ease in interest expense of $ 0.1 million for the year ended decem ber 31 , 2012 compared to the year ended december 31 , 2011 is due to interest expense savings from a lower average debt balance in 2012 of $ 5.1 million compared to a n average debt balance of $ 10.7 million in 2011. the decrease in interest expense was offset by prepayment penalties of $ 0.2 million related to the early payoff of the edmonton mortgage in may 2012 . taxes the company 's income tax expense by jurisdiction is summarized in the table below : replace_table_token_13_th the u . s . effective income tax rate has increased for the year ended december 31 , 2012 compared to the year ended december 31 , 2011 due to a one-time withholding tax payment of $ 0.1 million related to a canadian intercompany payable offset by the benefit associated with utilizing net operating losses that had been previously reserved . the canadian effective income tax rate increased for the year ended december 31 , 2012 compared to the year ended december 31 , 2011 due primarily to the translation effect of foreign currency gains and losses related to the change in the foreign exchange rate and interest expense related to lower principal balances on third party debt related to our canadian properties . the effective tax rates of our foreign properties are impacted by the movement of exchange rates primarily due to intercompany loans which are denominated in u.s. dollars . therefore , foreign currency gains or losses recorded in each property 's local currency do not impact our earnings reported in u.s. dollars . certain intercompany loans of our foreign properties are denominated in u.s. dollars . therefore , foreign currency gains or losses can significantly impact each jurisdiction 's effective tax rate . 39 liquidity and capital resources cash flows our business is capital intensive , and we rely heavily on the ability of our casinos to generate operating cash flow . we use the cash flows that we generate to maintain operations , fund reinvestment in existing properties for both refurbishment and expansion projects , repay third party debt , and pursue additional growth

